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Equate
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May 04, 2013, 04:09:54 PM |
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my mistake was sold I sold 5 BTC @ $30 each when prices were rising  |
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Windsock
Newbie
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Activity: 5
Merit: 0
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May 04, 2013, 04:10:38 PM |
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Not getting into bitcoin mining when a friend recommended years ago.
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trustableman1964
Newbie
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Activity: 4
Merit: 0
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May 04, 2013, 04:31:35 PM |
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BEFORE I might need to post sad stories in the next year, listen ladies and gentlemen, what do we need to learn from this: http://www.coinchoose.com/ Why the feathercoin, Freicoin, Mincoin, Bytcoin Litecoin and co are indicated as more profitable than BC??? Coin Algo Blocks Difficulty Reward Best Price (BTC) Exchange % Profitability of BTC Feathercoin scrypt 31089 122.352 200 0.004000000 Bter.com 263.54% Freicoin SHA-256 26352 37346.892 229.75004659 0.000990000 Bter.com 245.47% Mincoin scrypt 47110 1.519 2 0.003100000 mcxNOW 164.51% Bytecoin SHA-256 16861 8948.631 50 0.000670000 Bytecoin Exchange 150.89% Litecoin scrypt 346424 482.51251079 50 0.032000000 Bter.com 133.65% PPCoin SHA-256 46303 388718.077 400.44961824746 0.002660000 BTC-e 110.45% I don't get the reference measure in percentage here. In percentage of what? risks? invested $ £ @ Please help, so I don't need to post another Worst/Unluckiest noob mistake with digital currency thanks a lot |
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limbaugh
Legendary
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Activity: 1311
Merit: 1000
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May 04, 2013, 04:38:39 PM |
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Finding out about bitcoins 4 years too late
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BitshireHashaway
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May 04, 2013, 04:51:04 PM |
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Not looking into it earlier!  Ditto. I just got started a week ago, and I would have loved to have been working with the growing currency as it became more popular, especially when everything was easier and you could make a GPU system without needing to worry about Asics making it utterly not worth it. I would have liked to been involved and watched what happened when someone figured out how to mine with GPU's ect. |
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BitshireHashaway
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May 04, 2013, 05:05:33 PM |
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I stopped mining and forgot about bitcoin 2 years ago. Now that small amount of btc which at the time i thought was not worth the hassle to convert to my currency is worth 200+usd. It took ~4 days to mine that...
I wouldn't necessarily call this a bad thing. Because if you had stayed, you could have converted the currency you got earlier for a lot less than the $200+. The question is, if you had stayed and gotten more, would you have converted it, which for most people would be yes, and if you converted it as you went, would you still have gotten that $200+ by today taking in all costs. |
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LaggedOnUser
Newbie
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Activity: 56
Merit: 0
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May 04, 2013, 05:05:48 PM |
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BEFORE I might need to post sad stories in the next year, listen ladies and gentlemen, what do we need to learn from this: http://www.coinchoose.com/Why the feathercoin, Freicoin, Mincoin, Bytcoin Litecoin and co are indicated as more profitable than BC??? Coin Algo Blocks Difficulty Reward Best Price (BTC) Exchange % Profitability of BTC Feathercoin scrypt 31089 122.352 200 0.004000000 Bter.com 263.54% Freicoin SHA-256 26352 37346.892 229.75004659 0.000990000 Bter.com 245.47% Mincoin scrypt 47110 1.519 2 0.003100000 mcxNOW 164.51% Bytecoin SHA-256 16861 8948.631 50 0.000670000 Bytecoin Exchange 150.89% Litecoin scrypt 346424 482.51251079 50 0.032000000 Bter.com 133.65% PPCoin SHA-256 46303 388718.077 400.44961824746 0.002660000 BTC-e 110.45% I don't get the reference measure in percentage here. In percentage of what? risks? invested $ £ @ Please help, so I don't need to post another Worst/Unluckiest noob mistake with digital currency thanks a lot I believe the table represents a simple formula. The newer coins are more profitable to mine than Bitcoin because, although they are worth less than Bitcoin per coin, they have a higher reward for mining. That is because most coins favor early adopters. Typically they start off with high rewards then drop over time. Bitcoin is one of the older coins now, so it has less rewards. Another possible interpretation is that the market is shifting toward the possible adoption of new coins. Bitcoin is so much huger than the other coins that it is almost a monopoly of the market. Look how small the other values are in the Best Price column. The other coins are trying to break out and become second coin to Bitcoin, like a new search engine trying to compete with Google. Since the other coins have almost the same qualities as Bitcoin, they are adequate substitutes (except not accepted in as many places), and so people are bidding them up in speculation that some might succeed. The percentage is a simple formula compared to Bitcoin. If you mine Feathercoin for 24 hours and exchange your Feathercoin for Bitcoin, you are expected to earn 272% of what you would have earned if you mine Bitcoin directly. I personally would recommend that you invest in a few handfuls of any coin that shows a pulse, and hold for the long term. You have no idea which coin will succeed or fail. Get them while they are cheap. And if you are mining, mine the top one on the list, Feathercoin. |
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wachtwoord
Legendary
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Activity: 2324
Merit: 1125
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May 04, 2013, 05:08:34 PM |
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And if you are mining, mine the top one on the list, Feathercoin.
You can merge mine coins that use the same algorithm. |
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BitshireHashaway
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May 04, 2013, 05:15:43 PM |
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My first time buying a Bitcoin was on ebay, I had no idea what I was doing and ended up paying $3.65 for 0.001 (.13 cents at the time) looool!
New ATH: $3650/ BTC! I'm going to start selling BTC on ebay:) |
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JoeChmoe
Member
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Activity: 91
Merit: 10
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May 04, 2013, 05:18:44 PM |
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Saw pictures of bitcoin mining rigs on reddit three years ago, thought well if I need 20 gpus there is no point me trying. If only I had started mining then.
Ouch! That one stings. Definitely selling extremely too early would be my worst mistake, lost alot of capital. |
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Inedible
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May 04, 2013, 06:36:49 PM |
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Yes, my point being, what are you actually going to do when you meet this guy? Do you seriously think you will be able to get bitcoins out of him?
In my head I see someone being shaken till Bitcoins fall out of him but I suspect this isn't how it happens in real life. |
If this post was useful, interesting or entertaining, then you've misunderstood.
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bitleif
Sr. Member
Offline
Activity: 351
Merit: 250
I'm always grumpy in the morning.
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May 04, 2013, 07:04:17 PM |
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Yes, my point being, what are you actually going to do when you meet this guy? Do you seriously think you will be able to get bitcoins out of him?
In my head I see someone being shaken till Bitcoins fall out of him but I suspect this isn't how it happens in real life. Excuse me as I don't know the history of this story, but isn't this what the police are for? Should be possible to prove fraud in this case? |
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Inedible
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May 04, 2013, 08:29:24 PM |
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Excuse me as I don't know the history of this story, but isn't this what the police are for? Should be possible to prove fraud in this case?
It's a very long story most of which I've forgotten. You're best off looking it up. Trendon Shavers - pirateat40. The only relevant detail would be if he falsely represented his dealings (which I think he did). If so then fraud charges are possible but no-one seemed to want to do it. Not sure why. |
If this post was useful, interesting or entertaining, then you've misunderstood.
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trustableman1964
Newbie
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Activity: 4
Merit: 0
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May 04, 2013, 09:39:53 PM |
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And if you are mining, mine the top one on the list, Feathercoin.
You can merge mine coins that use the same algorithm. Okay, I will spend some time to chose one of the more sexy hot winners from that digital currency contest. It seems a bit as it works in the good old investors world with eary and late investors, its the same mechanismen, I believe. Thanks to both of You for the clarifications above. What are Your most important criteria's when chosing one of these toys? publicity? tradeability? easy to mine? seriousity and references of the founders? quality of the technical or financial story? What are the killer criteria's getting believers in the crypto-currency community? thanks a lot, I am fast learning here. M. |
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freedomno1
Legendary
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Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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May 04, 2013, 10:14:35 PM |
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^^^
Too early to tell on that one Mate!
Haha na it did go back up predicted my own mistake  Well Rebought in at 110 And sold for more cash But less bitcoins worth more so still a mistake But I guess reading the thread my worst mistake is not learning about bitcoin earlier Or maybe its not investing in one or all of the alt currencies in small amounts since I don't know what will win and just have 10 wallet accounts  |
Believing in Bitcoins and it's ability to change the world
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movellan
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May 04, 2013, 11:07:34 PM |
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[/quote]
why don't you guys pay him a visit?
i don't see whats holding you back.
i would hunt him down for far less.
[/quote]
In New Jersey, we would make him an offer he can't refuse.
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Gleason
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May 04, 2013, 11:41:54 PM |
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I wish I had heard about it, and gotten into it sooner.
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Rampion
Legendary
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Activity: 1148
Merit: 1018
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May 04, 2013, 11:46:50 PM |
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Not buying ASICMINER shares I was offered at 0.3 BTC each - I thought x3 IPO price was "a tad too much", what a fool I was |
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Bit Banger
Newbie
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Activity: 5
Merit: 0
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May 05, 2013, 12:29:44 AM |
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I was all in on BTC and was about to sell at ~$240, but decided to wait a few more days. Ended up cashing most of it out at around $130. I hedged what I still had in for a few days on bitfloor, and went all cash right before they closed. Now I'm waiting to get my $2k out. Not as bad as it could have been though if I didn't cash out everything else first.
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MoneyCoin
Newbie
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Activity: 14
Merit: 0
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May 05, 2013, 01:31:13 AM |
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My biggest mistake is that I did not buy BitCoin when it was almost worthless... lol
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