Bitcoins - can I get rich? ponzi scheme?

[canon.docre]

Anyone use these?

https://en.bitcoin.it/wiki/Trade

Can I get them for free? Can I mine them? Is it too late for me to buy some and see their value go up? It looks like (locally?) I can buy them for around $90cad and sell them for $67cad. But apparently they were selling for ~$30cad a month ago? I think I missed the boat.

[Friendly Goatus]

Yeah, if you'd have bought into it a couple years ago you'd be rolling in it now. Now may not be a good time to get into the bitcoin market but who knows? maybe there'll be a big value jump in the near future.

[Krieg]

Bitcoins are not yet good long term investment because you can't do anything with them except speculating. If you are willing to invest some time then there is some money to be done, it is kinda like a wild west version of FOREX. It is basically a massive online multiplayer speculation game. I invested a few dollarbux last year but lost interest in playing with it. Then in the past months there has been lots of publicity and tons of people wanted to buy them and suddenly the market started to move incredible fast. I bought a bit more and played and it was fun, specially the last three days which were a rollercoaster. I managed to make money but because my investment is low (highest point has been so far 7 BTC) and I do not care if I lose it all, but some people can't stomach seen their hard earned bitcoins go from $200 to $60 in a matter or hours. Now that things are getting stable again everything looks like people had a mental barrier at $200 and everyone waited until it reached that price and then start to sell making it go down fast, and then repeat.

Plus all the hackers DDoSing the systems in order to profit make things more fun. And I guess more than one cried 2 days ago when the main trading platform went down, I guess they were not prepared for having all those avid new players wanting to get some action.

Yes, fun times.

[escape goat]

A month old post on reddit.

[valgalder]

>http://www.youtube.com/watch?v=jWTRhZwe7B8&feature<

[Krieg]

[Retarded female British accent]

Bitcoins are good because you can lose maximum 100% of your investment.

[/Retarded female British accent]

[Zap Rowsdower]

The bitcoin jump is nothing more than the consequence of a CNBC or Bloomberg reporter without a story scrounging up something that caused a surge in the price. It's a classic bubble, herding is driving up the price past its discounted present value. The surging price is the result of a trend and not any inherent value, people buy because they believe they can get more when they sell to someone else, who thinks they can sell for more than they paid ad infinitum until the bubble pops.

Unlike other forex, the number of actual end users of bitcoins is extremely low, and typically the type of people who want to stay off the grid (drug dealers, CP etc.) You think these people will want to keep using this form when federal regulators will start taking an interest? Now the people paying $200 for one bitcoin will be left with nothing more than an encrypted Zelda rupee.

Not to mention, once a "hot" investment makes it to the news, and once retail investors start to take an interest, it's probably time to get out of the investment.

[Zerohero]

I'm thinking of investing in a radioactive uranium mine on staten island that also makes organic pepperoni and medicinal marajuana...

[Zap Rowsdower]

I'm looking for stable long-term growth. ZH, should I put my bitbux into banana milk, or diversify and hedge my fart on tits exposure?

[Honky Kong 64]

I'm looking for stable long-term growth. ZH, should I put my bitbux into banana milk, or diversify and hedge my fart on tits exposure?

[Zerohero]

I'm looking for stable long-term growth. ZH, should I put my bitbux into banana milk, or diversify and hedge my fart on tits exposure?

I'm bullish on Dragon Lord Frodo attacks....


http://www.cnbc.com/id/100610863

[Cascade Whore]

I'm thinking of investing in a radioactive uranium mine on staten island that also makes organic pepperoni and medicinal marajuana...

[Zap Rowsdower]

Price dropped by like 80% today. Looks like fart on tits is a safe bet.


I hate how there's a TV with CNBC on in front of my face all day and I know this shit

[How Are Mortiis Goatse?!]

Probably the best way to make money off bitcoins is to mine them, buy drugs wholesale on the internet with them and then sell the drugs at a profit IRL.

[FVBTVS]

yall should've just switched over to my faggot based economics back in the beginning on the ground floor..

[Toxicarius]

If cash is king, this pretend money must surely be the jester.

[How Are Mortiis Goatse?!]

But you can use this pretend money to buy real passports

[canon.docre]

I'm mining approximately 0.01 bitcoins overnight using deepbit.net. I'm not going to be fat for very much longer.

[james]

[featherboa]

I'm mining approximately 0.01 bitcoins overnight using deepbit.net. I'm not going to be fat for very much longer.

welp. it took way too long, but i got it setup on my Nvidia ION onboard GPU.

Thread 0: 0.9 Mh/s
Thread 1: 0.9 Mh/s

I think it's going to take more than a night to earn 0.01 coinbux

[Krieg]

You will probably end up spending more in electricity.

[Zxcccccccccccc]

You will probably end up spending more in electricity.

Yep. Unless you have built a high end system specifically for mining you're just giving money to the electric company

[canon.docre]

I'm mining approximately 0.01 bitcoins overnight using deepbit.net. I'm not going to be fat for very much longer.

welp. it took way too long, but i got it setup on my Nvidia ION onboard GPU.

Thread 0: 0.9 Mh/s
Thread 1: 0.9 Mh/s

I think it's going to take more than a night to earn 0.01 coinbux

Yeah dude that's dumb. I'm doing around 200 Mh/s and that's with my shit way underclocked so it doesn't overheat.

[canon.docre]

You will probably end up spending more in electricity.

At this point yeah its pretty much a wash, but in 2050 when bitcoins are worth $5000 each .. I will be literally swimming in ten's of dollars of profit.

[featherboa]

0.00008338 BTC
Balance is updated once per hour


This machine is already running all the time and it's a like 18 watts or something.

Let's go halfsies on one of those ASIC boxes