Bitcoin Forum
November 18, 2017, 06:03:45 PM *
News: Latest stable version of Bitcoin Core: 0.15.1  [Torrent].
 
   Home   Help Search Donate Login Register  
Pages: « 1 ... 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 [92] 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 ... 196 »
  Print  
Author Topic: I am pretty confident we are the new wealthy elite, gentlemen.  (Read 607276 times)
boumalo
Legendary
*
Offline Offline

Activity: 1204


View Profile
September 20, 2014, 02:07:56 PM
 #1821

I don't think the original poster realize the amount of resistance bitcoin will get from the government and banking industry.

When all rules and regulation are put in place for bitcoin, it will be little different from fiat and wire transfer.

The hope is to have less regulation and rules with Bitcoin and when the fiat system and the central banks actions will look like what they are, horrible, people may start using bitcoins more and more

1511028225
Hero Member
*
Offline Offline

Posts: 1511028225

View Profile Personal Message (Offline)

Ignore
1511028225
Reply with quote  #2

1511028225
Report to moderator
1511028225
Hero Member
*
Offline Offline

Posts: 1511028225

View Profile Personal Message (Offline)

Ignore
1511028225
Reply with quote  #2

1511028225
Report to moderator
The Bitcoin network protocol was designed to be extremely flexible. It can be used to create timed transactions, escrow transactions, multi-signature transactions, etc. The current features of the client only hint at what will be possible in the future.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1511028225
Hero Member
*
Offline Offline

Posts: 1511028225

View Profile Personal Message (Offline)

Ignore
1511028225
Reply with quote  #2

1511028225
Report to moderator
1511028225
Hero Member
*
Offline Offline

Posts: 1511028225

View Profile Personal Message (Offline)

Ignore
1511028225
Reply with quote  #2

1511028225
Report to moderator
1511028225
Hero Member
*
Offline Offline

Posts: 1511028225

View Profile Personal Message (Offline)

Ignore
1511028225
Reply with quote  #2

1511028225
Report to moderator
chopstick
Legendary
*
Offline Offline

Activity: 1005


View Profile
September 20, 2014, 02:13:08 PM
 #1822

Need advice !

This question is more directed to the bitcoin miners. I have been Bit-coining for about 8 months now and I really enjoy doing it. The only problem is I'm not making any profit, long story short I have spent around $1500 and only made $ 500.00/ I have 4 miners pumping out 450 gh, and on a good day I might make .01 bt which means I will most likely never see a profit with my current set up... So here are my questions;

1) Is bit coin mining dead ?, should I though in the towel.
2) If it is not dead, should I buy a really big bitcoin miner $2000.00+, or lots of smaller ones ?.
3) What should I buy next and where should I buy them ?.

Thanks for the advice.

The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.

If you want to keep mining, you need to find one of those websites that calculates the profit you make over time vs. cost and figure out ahead of time whether or not your miners will be profitable.

You will have to do your research if you want to be successful and find a reputable company that sells cost-effective miners. If you buy from one of the overpriced companies, or scam companies, then you're fucked.
Oscilson
Sr. Member
****
Offline Offline

Activity: 434



View Profile
September 20, 2014, 03:08:51 PM
 #1823


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?
stevegee58
Hero Member
*****
Offline Offline

Activity: 773



View Profile
September 20, 2014, 05:22:32 PM
 #1824

I don't think the original poster realize the amount of resistance bitcoin will get from the government and banking industry.

When all rules and regulation are put in place for bitcoin, it will be little different from fiat and wire transfer.

That doesn't make any sense.  There's no way any authority can prevent 2 people from engaging in a business transaction where one pays BTC in exchange for goods/services from another.  By its very nature BTC cannot be regulated in fact, only in appearance.

I have BTC in my wallet, somebody has something for sale.  I send some negotiated BTC from my wallet to his.  I receive my goods.
Where does regulation enter into this transaction?

You are in a maze of twisty little passages, all alike.
elux
Legendary
*
Offline Offline

Activity: 1458



View Profile
September 20, 2014, 07:48:36 PM
 #1825

kingscrown
Hero Member
*****
Offline Offline

Activity: 672


http://fuk.io - check it out!


View Profile WWW
September 21, 2014, 02:41:22 AM
 #1826

I don't think the original poster realize the amount of resistance bitcoin will get from the government and banking industry.

When all rules and regulation are put in place for bitcoin, it will be little different from fiat and wire transfer.

That doesn't make any sense.  There's no way any authority can prevent 2 people from engaging in a business transaction where one pays BTC in exchange for goods/services from another.  By its very nature BTC cannot be regulated in fact, only in appearance.

I have BTC in my wallet, somebody has something for sale.  I send some negotiated BTC from my wallet to his.  I receive my goods.
Where does regulation enter into this transaction?

exactly, goods vs btc can never be regulated.
propably is fiat vs btc can cause problems at some point but i can imagine there will be countires that wont care [just like offshore companies now] so.. theres no real problem here.

vipgelsi
Legendary
*
Offline Offline

Activity: 1274

Solarcoin.org


View Profile
September 21, 2014, 02:50:23 AM
 #1827

Great time to buy cheap coins.

chopstick
Legendary
*
Offline Offline

Activity: 1005


View Profile
September 21, 2014, 03:07:18 AM
 #1828


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

arbitrage001
Legendary
*
Offline Offline

Activity: 1065


View Profile
September 21, 2014, 03:35:53 AM
 #1829


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

Where are you located?

I would be surprise if you can keep doing it for long if you are located in US or Europe before authority knocking on your door.
Arriemoller
Sr. Member
****
Online Online

Activity: 374



View Profile
September 21, 2014, 07:56:42 AM
 #1830


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

Where are you located?

I would be surprise if you can keep doing it for long if you are located in US or Europe before authority knocking on your door.

Why would they do that? It's not illegal to trade bitcoins.

Demokrati: Två vargar och ett lamm röstar om lunchmenyn.      Democracy: Two wolfes and a lamb votes about the lunch menu.
Frihet: Ett väl beväpnat lamm opponerar sig mot omröstningen.  Freedom: A well armed lamb opposes the outcome.
cr1776
Legendary
*
Offline Offline

Activity: 1708


View Profile
September 21, 2014, 12:10:50 PM
 #1831


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

Where are you located?

I would be surprise if you can keep doing it for long if you are located in US or Europe before authority knocking on your door.

Why would they do that? It's not illegal to trade bitcoins.

Unlicensed money transmitting is what was being referred to, I believe.

QuestionAuthority
Legendary
*
Offline Offline

Activity: 1694


You lead and I'll watch you walk away.


View Profile
September 21, 2014, 03:00:30 PM
 #1832


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

You're eventually going to get caught and prosecuted for money laundering and unlicensed money transmitting. I hope you're not in the US.

http://www.fincen.gov/statutes_regs/bsa/title18b.html

bitcool
Legendary
*
Offline Offline

Activity: 1441

Live and enjoy experiments


View Profile
September 21, 2014, 04:37:18 PM
 #1833


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

You're eventually going to get caught and prosecuted for money laundering and unlicensed money transmitting. I hope you're not in the US.

http://www.fincen.gov/statutes_regs/bsa/title18b.html
And your name is QuestionAuthority?
BlindMayorBitcorn
Legendary
*
Offline Offline

Activity: 1050



View Profile
September 21, 2014, 06:35:46 PM
 #1834


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

You're eventually going to get caught and prosecuted for money laundering and unlicensed money transmitting. I hope you're not in the US.

http://www.fincen.gov/statutes_regs/bsa/title18b.html
And your name is QuestionAuthority?

Sometimes when you question authority the answer is "no" Undecided

Forgive my petulance and oft-times, I fear, ill-founded criticisms, and forgive me that I have, by this time, made your eyes and head ache with my long letter. But I cannot forgo hastily the pleasure and pride of thus conversing with you.
stevegee58
Hero Member
*****
Offline Offline

Activity: 773



View Profile
September 21, 2014, 06:43:19 PM
 #1835


Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

You're eventually going to get caught and prosecuted for money laundering and unlicensed money transmitting. I hope you're not in the US.

http://www.fincen.gov/statutes_regs/bsa/title18b.html
[/quote]

Meh.  The Feds only care about the big guys.  Those they'll notice and regulate.  They won't bother with the guys exchanging BTC for USD in a Starbucks.

You are in a maze of twisty little passages, all alike.
Lohoris
Hero Member
*****
Offline Offline

Activity: 616


Bitgoblin


View Profile
September 21, 2014, 09:47:49 PM
 #1836

Meh.  The Feds only care about the big guys.  Those they'll notice and regulate.  They won't bother with the guys exchanging BTC for USD in a Starbucks.
Wishful thinking.

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
DefaultTrust is very BAD.
justusranvier
Legendary
*
Offline Offline

Activity: 1400



View Profile WWW
September 21, 2014, 10:07:15 PM
 #1837

Meh.  The Feds only care about the big guys.  Those they'll notice and regulate.  They won't bother with the guys exchanging BTC for USD in a Starbucks.
Wishful thinking.
Remember that kid in grade school who would get caught doing something then would immediately start naming all the other people who hadn't been caught to get them in trouble too?

Apparently most adults never emotionally mature beyond the grade school level, or at least enough of them don't that the feds can count on somebody complaining about the people exchanging BTC for USD in a Starbucks to give them an excuse to take action.

http://contrariancompliance.com/2014/09/19/us-money-transmission-laws-are-worthless-and-unconstitutional/

Quote from: Aaron Greenspan
so far the only company subjected to it appears to have been mine. The vast majority of my competitors operate today without a license in any state, or operated for years without them until I sued them in federal court.
Lohoris
Hero Member
*****
Offline Offline

Activity: 616


Bitgoblin


View Profile
September 22, 2014, 01:06:34 PM
 #1838

Apparently most adults never emotionally mature beyond the grade school level, or at least enough of them don't that the feds can count on somebody complaining about the people exchanging BTC for USD in a Starbucks to give them an excuse to take action.

http://contrariancompliance.com/2014/09/19/us-money-transmission-laws-are-worthless-and-unconstitutional/

Quote from: Aaron Greenspan
so far the only company subjected to it appears to have been mine. The vast majority of my competitors operate today without a license in any state, or operated for years without them until I sued them in federal court.
Well, this makes sense.

It's the basic principle of justice, actually.

Not sure how it is related to the posts you quoted, though.

1LohorisJie8bGGG7X4dCS9MAVsTEbzrhu
DefaultTrust is very BAD.
QuestionAuthority
Legendary
*
Offline Offline

Activity: 1694


You lead and I'll watch you walk away.


View Profile
September 22, 2014, 02:13:14 PM
 #1839


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

You're eventually going to get caught and prosecuted for money laundering and unlicensed money transmitting. I hope you're not in the US.

http://www.fincen.gov/statutes_regs/bsa/title18b.html
And your name is QuestionAuthority?

Bill Maher questions authority. Edward Snowden breaks the law and gives up his life to question authority. I believe in people banding together to make change happen not vigilante crusades by single individuals that act unilaterally on my behalf. If you want to be a prison martyr go right ahead. Charlie Shrem decided against that idea when he made his plea deal and it was the right decision.

boumalo
Legendary
*
Offline Offline

Activity: 1204


View Profile
September 22, 2014, 08:10:07 PM
 #1840


The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

You're eventually going to get caught and prosecuted for money laundering and unlicensed money transmitting. I hope you're not in the US.

http://www.fincen.gov/statutes_regs/bsa/title18b.html
And your name is QuestionAuthority?

Bill Maher questions authority. Edward Snowden breaks the law and gives up his life to question authority. I believe in people banding together to make change happen not vigilante crusades by single individuals that act unilaterally on my behalf. If you want to be a prison martyr go right ahead. Charlie Shrem decided against that idea when he made his plea deal and it was the right decision.

Bill Maher is a comic who says marxist ideas to make tens of millions of dollars a year, be loved and connected; snowden scarified everything for its beliefs but he may have broke the law doing so

Pages: « 1 ... 42 43 44 45 46 47 48 49 50 51 52 53 54 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 [92] 93 94 95 96 97 98 99 100 101 102 103 104 105 106 107 108 109 110 111 112 113 114 115 116 117 118 119 120 121 122 123 124 125 126 127 128 129 130 131 132 133 134 135 136 137 138 139 140 141 142 ... 196 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!