| There are 25 comments on this blog. This blog is locked and no further comments are permitted. |
|
|
you spend your money on it, make a lil profit, then the bubble pops, then your money goes to the rich smart men
|
|
|
You can learn a lot from Ted Talks
|
|
|
or big bang theory
|
|
|
Truth..
|
|
|
Already got answers for you. (You're welcome.)
|
|
|
Fake info...
|
|
|
The time your Hx community gives you advice about bitcoin is the exact time you should be selling your bitcoin.
|
|
|
It's a bubble. Don't invest.
|
|
|
You send it to me and Iāll take care of it for you.
|
|
|
It was designed to be a currency to buy and sell things without any central authority or government to back it (or mess it up). Invented as a reaction to the banking meltdown a few years ago.
The technology (blockchain) is basically a distributed public record book that holds all the transactions encoded so anyone can look at them but no one can fake them, so anyone can verify. It prevents people from spending money twice.
It requires work (you have to solve a math problem) to make an entry in the record book (add a block to the blockchain). The difficulty of the problem to solve is automatically tuned so a new block is added about every ten minutes. If miners start to find faster ways to add a block, the system tunes it to require solving a harder problemk and slow them down.
There are tho and it is messy. There are several Bitcoin varieties now because of disagreements in the community and conflicts between miners and holders that caused splits (hard forks they are called where the system changes but not everyone adopts it so you have both the old and new coin systems in play).
It does not scale well. Every transaction has to be entered into the blockchain by a miner (who gets fees and a bitcoin for their work). There is only one blockchain and a new block is added every ten minutes. A block can only hold a set number of transactions. So to make a transaction, you compete for limited space in a new block. You pay a large fee for each transaction. You may also have to pay extra to encourage the miners to include your transaction when there are more transactions than space.
So a transaction can take hours, days, or never happen if you don't pay enough to get the attention of a miner and make it worth their while.
Imagine an accountant kept all your money. You have to pay her a fee even to buy a pack of gum with your own money or she won't write it down and it never happened.
Another problem is that it takes huge amounts of electricity to mine a new bitcoin (create a new block). And as more people enter the mining and the technology gets better, the mining problem is automatically tuned to make it harder so they will slow down again--one every 10 minutes or so.
Some estimates are before long mining a new block/coin will require as much electricity as the entire US uses.
|
|
|
But you really probably want to know about investing in it.
It's like many things that people collect--if enough people want them and supply is limited, the price goes up.
But with Bitcoin, you aren't buying anything tangible--just creating an entry in a logbook that says you own this thing.
The way you make money is by encouraging others to put their money in after you--so everyone who invests has an agenda to get others to buy in and drive the price up. You essentially get the money of people who buy in after you.
Sounds like a Ponzi scheme? Some say it is. You still can make a lot of money. Or lose a lot...
|
|
|
I have been buying penny marijuana stock for about 18 months now. I have stock in 8 different companies. Right now I am down about 15% of the amount I invested. 2 stocks I own are up approx. 52% this year., 1 is up about 22%, 2 others are starting to go up and 2 are complete dogs. I am hoping to break even in January with the legalization in CA and start showing some profits next year.
I use a online broker that charges a straight $4.99 per trade plus the small amounts to the exchanges
that are a few pennies per trade. I believe you are better off in penny stocks then in crypto- currencies.
|
|
|
and make it up by volume.
|
|
|
Did you know that to mine 1 Bitcoin, it takes enough power to run 9 houses for 1 day?
No one knows why the other fake cryptos havent taken off like BC has
If the creator(s) dumped all of their BC it would collapse?
BC has enabled the rise of ransom ware, which is becoming more of a challenge and threat every day?
This whole thing is an unsustainable house of cards that will eventually collapse.
If another Mt Gox happens there is no one you can run to or call about it?
Enjoy Monopoly Money!
|
|
|
Good read
|
|
|
If you can melt it down and make jewelry then it's not fake
|
|
|
Bitcoin is melting down on its own just fine.
|
|
|
There are those who will say not to invest and then there are those who will say to invest. Those who say not to invest are with the system and believe in the central bank and government control. those who don't believe int he central bank and government will invest in any concurrency.
i don't believe in the central bank. i dont like the idea of someone watching over my shoulder as i transfer thousands of dollars from one account to another. Bitcoin is about financial freedom, freedom from big brother, freedom to transfer money to someone else without anyone knowing or any middleman involved.
if you want to invest in bitcoin, sign up on coinbase and attach a credit card to the account. buy on a weekly basis, $50 (to start), and then read, watch youtube videos, and learn.
send me a pm and i will be happy to help out with information.
|
|
|
Example. You put $100 on your credit card so you can send it to them via internet. Then with all the handling fees you pay it's now worth $90. So you have $90 you can't spend for anything normal like groceries or to pay your utilities. Then it sits in your account that some rice ball in Hong Kong controls where your money is not really money it's just a credit item on a computer. After about a year, it's worth $75 and when you try to use it the charges taxed on make it worth $50, if you can find the electronic address of the guy that got your money. So it's like a bank but without the Federal government insurance provided by theFDIC.
|
|
|
awesome brooke
bitcoin and global warming
|
|
|
How's that Bitcoin going for you now...
|
|
|
Can someone explain the āminingā process?
Isnāt a bitcoin some sort of code that isnāt supposed to be able to be duplicated?
|
|
|
Just got into Bitemyass. Newer crypto but looks verrrry promising. I'm in for a long, long time.
|
|
|
^^selling or buying?
|
|
|
Has anyone given you any bitcoin???
(How do I put a bitcoin into a Salvation Army pot? Ahhh, forget it, too much trouble.)
|
| There are 25 comments on this blog. This blog is locked and no further comments are permitted. |
