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Falcon98 (OP)
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July 14, 2014, 07:58:38 AM |
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I'm not sure about lending btc , because Im not sure if I can pay back the loan(collateral) in time . I'm new to BTC and only have a few shares on cryptostocks(wanna buy more) .
any advice? thanks in advance!
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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waterpile
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July 14, 2014, 08:03:13 AM |
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Try joining sig campaigns like mine they are accepting newbie. Better yet buy BTC its the fastest way to get it
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Falcon98 (OP)
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July 14, 2014, 08:07:50 AM |
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Well , gotta wait for Jr. Member status  |
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Sydboy
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July 14, 2014, 09:01:41 AM |
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do you want the bitcoins to hold as investment, gamble or to buy something ? you are probably one of the first people to say they might not be able to pay back haha. you have integrity and are honest. good attitude to not just want, nice to see some people are stll civilized  |
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Falcon98 (OP)
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July 14, 2014, 10:35:08 AM |
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Thanks for the reply Sydboy. So people aren't honest in this Lending section? Im looking into using the btc for an investment. buy more shares , trade etc. Wanna make profit. Cex.io can be a thing. |
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DRK
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July 14, 2014, 04:55:55 PM |
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You shouldn't invest more you can afford to lose (or repay)... in this case you're taking a loan and assuming you have no collateral (or you'd just risk that instead) the risk will be with the lender. Integrity and honesty aren't enough for a loan. If you need the BTC, earn them.
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Falcon98 (OP)
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July 14, 2014, 04:58:19 PM |
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Yeah , it will take way to much time to repay if I loan any btc.
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byt411
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July 14, 2014, 05:11:03 PM |
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You can use cryptostocks shares as collateral.
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Falcon98 (OP)
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July 14, 2014, 05:13:17 PM |
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Aha , nice idea !  |
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Sydboy
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July 14, 2014, 06:54:27 PM |
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don't take a loan out to buy mining equipment is the best advice, not that you mentioned mining but i thought i would anyways lol.
don't take out a loan for anything on second thought. a lot of people got caught out when the price went from $200 to $1400. You need to ask yourself that. i.e if i borrow 3 bitcoins @ 600 each could I afford to repay if they went to $2000 each, as an example.
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Falcon98 (OP)
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July 14, 2014, 07:39:25 PM |
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Neh , I have decided to keep away from lendings. btw , is it dumb to mine with my gpu , Nvidia 740m?
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byt411
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July 14, 2014, 07:42:57 PM |
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Neh , I have decided to keep away from lendings. btw , is it dumb to mine with my gpu , Nvidia 740m?
Yes, it is very dumb to do so. |
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Falcon98 (OP)
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July 14, 2014, 07:50:06 PM |
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Can you tell me more about why its dumb? ;P I don't know , will I kill it ?
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roslinpl
Legendary
 Offline
Activity: 2212
Merit: 1199
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July 14, 2014, 08:33:29 PM |
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I'm not sure about lending btc , because Im not sure if I can pay back the loan(collateral) in time . I'm new to BTC and only have a few shares on cryptostocks(wanna buy more) .
any advice? thanks in advance!
If you are anyhow IT related there's a bunch of people who search to hire someone to do some kind of a job... A logo ... script ... web page ... and not only. Look everyday in here: https://bitcointalk.org/index.php?board=52.0and here: http://www.reddit.com/r/Jobs4bitcoinsJust remember that if you will find suitable payable task for yourself you need to think for who do you work and will he pay. So best method is ask for an escrow or negotiate to pay 50% upfront 50% after a job. It all depends on you. If someone don't want to use an escrow and don't want to pay upfront - he want to scam you (99% chances) - so be aware. Believe me it will change your life! PS. And if you don't have $1000++ stop thinking about Cex.io ... and when you will have >$1000 don't even think about Cex.io. What I mean is - if you want to mine and you have few $100 - stop thinking about mining. Start thinking how to earn and became a miner (and buy a rig) Good luck and kind regards. |
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ThomasCrowne
Full Member
Offline
Activity: 210
Merit: 100
★☆★ 777Coin - The Exciting Bitco
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July 15, 2014, 07:54:13 AM |
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I'm not sure about lending btc , because Im not sure if I can pay back the loan(collateral) in time . I'm new to BTC and only have a few shares on cryptostocks(wanna buy more) .
any advice? thanks in advance!
I've got some really good advice. Avoid crypto::stocks :p |
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Light
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July 15, 2014, 08:05:33 AM |
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Can you tell me more about why its dumb? ;P I don't know , will I kill it ?
It's dumb because the reward your getting is extremely small compared to your cost. First off Nvidia cards make poor miners (even when GPU mining was viable) and the hash rate you'll generate is going to be so small you'll be lucky to make a few cents in a week running your card at full blast the whole time. With that kind of workload you'll probably overheat/brick the card giving you a lot of hassle for at best a few bucks. |
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Falcon98 (OP)
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July 15, 2014, 08:14:28 AM |
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Can you tell me more about why its dumb? ;P I don't know , will I kill it ?
It's dumb because the reward your getting is extremely small compared to your cost. First off Nvidia cards make poor miners (even when GPU mining was viable) and the hash rate you'll generate is going to be so small you'll be lucky to make a few cents in a week running your card at full blast the whole time. With that kind of workload you'll probably overheat/brick the card giving you a lot of hassle for at best a few bucks. yeah , I read a little more about this and it is completely true...it's very dumb to just mine for a few cents a week risking killing you gpu that will cost me a hundred bucks to repair or even more  I'll keep on with cpu mining new altcoins and sell it when its more worth. depends. |
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