Cryptocurrency

[Frozenbeernuts 1,652]

 

Oh man this is going to have to be up to you. You get a 2.5 leverage on margin trading with the margin bot. You take the higher risk of losing your initial investment but the silver lining is you need a smaller initial investment.

 

With these bots I highly advise you to only invest what you are comfortable with. They work for me and other people. But they can also be fickle. If you start the bot at 3:03pm and it catches some wrong signals it will throw the bot off for days. Its all about timing.

 

So what I did is Polo has linked accounts. I created 3 different Polo accounts for the margin bot (there is only one master so once you are verified your linked accounts are automatically verified). All trading BTC/ETH. I started one at what would have been 9am in the US, 9am in the UK and 9am in Shanghai. I think you understand why I did that without me explaining it to you, but yeah thats what I did, give it a go if you want.

I can't get verified on poloniex It has been weeks since I submitted my profile. Nor have they responded to my support ticket asking why I haven't been verified. I don't get it. It just says Pending review. Submit profile for verification.... I already did... so annoying.

[WhiteWonder 2,171]

I didnt find a LTC/IOTA exchange listed there so had to use BTC and ETH to buy IOTA.

Hrmmmm. Okay thanks for the info

[IMMensaMind 459]

I can't get verified on poloniex It has been weeks since I submitted my profile. Nor have they responded to my support ticket asking why I haven't been verified. I don't get it. It just says Pending review. Submit profile for verification.... I already did... so annoying.

Same thing happened to both me and a friend of mine.

[Mookz 1,287]

Guys, thanks very much for using my Binance referral link. I'm up to $0.23.

 

But even more important, it says I have 3 friends.

 

Hope you are enjoying your IOTUMs.

 

Once more for posterity: https://www.binance.com/?ref=12137633

 

 

[Reality 2,710]

Guys, thanks very much for using my Binance referral link. I'm up to $0.23.

 

But even more important, it says I have 3 friends.

 

Hope you are enjoying your IOTUMs.

 

Once more for posterity: https://www.binance.com/?ref=12137633

 

 

 

Looking into this over the next few days.

[vuduchile 1,941]

eBay considering accepting bitcoin

 

https://www.yahoo.com/finance/news/ebay-seriously-considering-accepting-bitcoin-164410989.html

[IMMensaMind 459]

Guys, thanks very much for using my Binance referral link. I'm up to $0.23.

 

But even more important, it says I have 3 friends.

 

Hope you are enjoying your IOTUMs.

 

Once more for posterity: https://www.binance.com/?ref=12137633

 

I am one!

[IMMensaMind 459]

eBay considering accepting bitcoin

https://www.yahoo.com/finance/news/ebay-seriously-considering-accepting-bitcoin-164410989.html

All commerce is going to fall like dominoes.

[nobody 2,037]

Anybody want to get rich with me on Ripple or do we want to just stick to the bitcoin, litecoin, ether, and iota?

[RaiderHaters Revenge 3,577]

so if I wanted to set up 4 computers to farm in a pool all running THZ+ speed where would I start

 

looking at getting 4 of these to add to 4 I7 with top end video cards

 

according to guides, then I buy into a good pool and collect up to .05 bitcoin per system a day

[vuduchile 1,941]

Anybody want to get rich with me on Ripple or do we want to just stick to the bitcoin, litecoin, ether, and iota?

Whats ripple and where do you buy it

[RaiderHaters Revenge 3,577]

just ordered 4 systems will be setting em up in next couple days, now to find a good pool. Putting 1 on ETH, BTC, and LTC, 1 more on IOTA if I can find a hash program, otherwise will split bandwidth 3 ways for it

[frank 2,144]

Whats ripple and where do you buy it

[iam90sbaby 2,122]

You shouldnt buy Ripple it goes against all the principles that cryptos were founded upon.

[titans&bucs&bearsohmy! 2,745]

so if I wanted to set up 4 computers to farm in a pool all running THZ+ speed where would I start

 

looking at getting 4 of these to add to 4 I7 with top end video cards

 

according to guides, then I buy into a good pool and collect up to .05 bitcoin per system a day

If you want, my buddy that is running the crypto mine in Mongolia is looking for clients. You buy the rig. Set up a wallet. He keeps 10% and hosts the machine. You pay electric. Each rig mines 0.0022 bitcoin a day. He also has machines for ETH and LTE if preferred. Machine costs $2,190.

 

And yes, in full disclosure, I get a cut of his cut of any referrals. So its out in the open.

 

Me and a friend just bought one. Scheduled to go online feb 10. If anyone is interested, let me know.

[vuduchile 1,941]

Watching The Rise and Rise of Bitcoin

 

Interesting that 3 of the main companies profiled in the doc are defunct and disgraced.

 

Mt Gox, Bitinstant and Trade Hill

 

Somewhat like like the dotcom craze. Many of the early pioneers went down in flames but others came along to build on what they did and make it better.

[Mookz 1,287]

If you want, my buddy that is running the crypto mine in Mongolia is looking for clients. You buy the rig. Set up a wallet. He keeps 10% and hosts the machine. You pay electric. Each rig mines 0.0022 bitcoin a day. He also has machines for ETH and LTE if preferred. Machine costs $2,190.

 

And yes, in full disclosure, I get a cut of his cut of any referrals. So its out in the open.

 

Me and a friend just bought one. Scheduled to go online feb 10. If anyone is interested, let me know.

 

Sounds like you might be able to start making money in the third month. Any idea how much ETH and LTC would be mined per day? Or the cost of electricity? If he closed up shop, what would happen to the rig?

[mmmmm...beer 691]

If you want, my buddy that is running the crypto mine in Mongolia is looking for clients. You buy the rig. Set up a wallet. He keeps 10% and hosts the machine. You pay electric. Each rig mines 0.0022 bitcoin a day. He also has machines for ETH and LTE if preferred. Machine costs $2,190.

 

And yes, in full disclosure, I get a cut of his cut of any referrals. So its out in the open.

 

Me and a friend just bought one. Scheduled to go online feb 10. If anyone is interested, let me know.

PM

[titans&bucs&bearsohmy! 2,745]

 

Sounds like you might be able to start making money in the third month. Any idea how much ETH and LTC would be mined per day? Or the cost of electricity? If he closed up shop, what would happen to the rig?

Dont know about the eth or Ltc rate per day. Went with a btc rig the first go round.

 

Electricity is low, thats why he put it in Mongolia in the first place (that and the cold weather, saves on cooling costs).

 

He has sixty rigs of his own going in there, along with many from clients. If he has to move, he will be putting them somewhere else.

 

Oh, and your name is nowhere on anything. So that makes tax decisions up to you.

 

I just feel more comfortable investing this way than buying coin outright. Then if the price plummets, Im still making money, just slower.

 

If youre interested, I can ask him. Be probably doesnt have an answer on the electric yet. Hes just opening the mongolia facility this month.

[Mookz 1,287]

PM

 

[mmmmm...beer 691]

 

This makes more sense.. buy the cabbage patch factory.. better yet... who sells the "rigs"? We should invest in them.

[titans&bucs&bearsohmy! 2,745]

Im getting many similar questions in pm. So let me post this here.

 

Im gonna tell you everything I know. Bottom line, there isnt much security here at all.

 

This guy is from Poland. He and I taught together for a couple of years here in china. He always talked about how he was buying bitcoin and urged us to do so. Last year, he quit teaching to run his business (he has jewelry manufactured and sells it all over china at big profit).

 

Weve kept in touch, and he tells me he cashed out everything. Sold his btc for $100,000. Sunk every dime he could raise into buying sixty rigs and the facility in Mongolia. He is flying there in a couple of weeks to get it up and running.

 

He has showed me pictures of all the machines. Thats about the only proof I can offer. Im sure if you wanted, he could probably provide pics or video of the facility once he gets it going. If you really wanted to sink some coin, hed probably be ok with taking you there, if you want to go to Mongolia.

 

It sounds shady as hell I know. The only reason Im doing it is I know the guy. And Im starting with half a machine, just to see first. I want to see the money being made before I go farther.

 

Thats really all I can tell you at this stage. The bitcoin machine costs $2.190. Takes about five weeks to get it delivered and installed. You can get them faster if youre willing to pay more he says.

 

Anyway, given the international nature of the transaction, there would be very little recourse if he vanished one day. I plan on taking quite a bit of profit as I go, personally.

 

Thats all I can tell you. Im not necessarily recommending it. Just throwing it out there. I suppose if you trust me at all (why would you really) I could go check out the plant myself at some point. But I dont know how much that would assuage fears.

 

I cant stress enough that there is no security here. I dont think the guys a crook, or I wouldnt be doing this myself. But if he is, good luck with any legal remedy. This is, obviously, an rather large risk.

[vuduchile 1,941]

So, cold weather is desirable for these machines, as is low cost electricity?

 

I have a storage warehouse I was planning on getting rid of in MI. We have several MI geeks here as I recall. Maybe I should change directions with this warehouse.

[titans&bucs&bearsohmy! 2,745]

So, cold weather is desirable for these machines, as is low cost electricity?

 

I have a storage warehouse I was planning on getting rid of in MI. We have several MI geeks here as I recall. Maybe I should change directions with this warehouse.

From what I am told, these machines put out a lot of heat. So you want them in a cold place, otherwise you have to pay to keep them cool.

 

I was thinking of starting a farm in the Philippines, since land is cheap and I have quasi family there to watch over it. But apparently that wont fly.

 

I would think electricity cost in the us will be a problem. Not to mention the feds will think you have a grow house going.

[RaiderHaters Revenge 3,577]

If you guys know what one of my businesses are then you know I'm not worried about elec.

 

My warehouse stays 75 and runs over 150000 watts of current continually. I also have 320 solar panels. I have an office there that actually is too freezing to work in cause of shared venting in order to keep the rest of the warehouse cool that room drops into the 50s. I have room for about 10 desktops in there maybe more if I wall mount stuff so thinking 4 is a good start

[RaiderHaters Revenge 3,577]

As far as the Feds. I'm in California come at me lol. They don't hold illegal murderers they won't f with me if they are getting almost 200k a yr in state and local taxes

[vuduchile 1,941]

From what I am told, these machines put out a lot of heat. So you want them in a cold place, otherwise you have to pay to keep them cool.

 

I was thinking of starting a farm in the Philippines, since land is cheap and I have quasi family there to watch over it. But apparently that wont fly.

 

I would think electricity cost in the us will be a problem. Not to mention the feds will think you have a grow house going.

Yeah. Its hard to know what the break even is on something like that until youve set it up and had it running for awhile.

 

I suppose the feds could investigate all they want.

 

Mining cryptos isnt illegal in the US.

[joneo 529]

just looked and nearly every coin is gaining. Everything is green

[vuduchile 1,941]

just looked and nearly every coin is gaining. Everything is green

Its a wild ride. I just bought more BTC and IOTA tonight.

 

Bubble schmubble. I still dont understand all of it but theres something big brewing here and now.

[titans&bucs&bearsohmy! 2,745]

So I talked to my friend. He says he doesnt want to do one machine deals. Hes getting orders in the 50 machine level, and says it is more headache than it is worth to do one at a time. He says ten at a time is the least he wants to Fock with.

 

I told him nobody is going to send $20,000 to some random guy on the other side of the planet. He says he gets that.

 

So what I think Im gonna try to do is build little 10 person consortiums. Find ten people. Charge $2400 a machine and 15% per month. Do it that way. Something like that.

[peenie 1,690]

I punked out. My fear and lack of knowledge on how to make transactions has paralyzed me.

[nobody 2,037]

Whats ripple and where do you buy it

It solves two of the biggest problems with other blockchains. Fees and speed. People don't like it because you can't mine it and it works with banks instead of trying to compete with them. All you really need to know, though. is it's up 4000% this year. Get rich!

 

buy it on kracken

[titans&bucs&bearsohmy! 2,745]

So help me out here guys...

 

I'm really struggling with the decision of whether to buy this rig or not.

 

I've heard 90's say that this is an investment in the technology... But then today when I was talking to my guy, I asked him, "How would people send you money to pay for rigs? Bitcoin?"

 

He said, "No, Bitcoin is too slow, and has too high fees. Have them buy LTC and send that."

 

So I'm thinking... why would I want to mine a crypto currency that even people who are heavily invested in crypto and are big believers don't even want to use?

 

Then I'm thinking... why would the people who make and sell these machines be selling them? If they pay for themselves in two months time, why not just plug them in and mine them themselves?

 

My head is just telling me that this is too easy. Too good to be true. It seems like crypto, and bitcoin in particular, is being treated not as a product that fills a service or a consumer need as much as it is a commodity, where much if not all of the value is people speculating.

 

 

 

But again, I don't know much about it.

 

Tell me why I'm wrong.

[patweisers44 697]

 

My head is just telling me that this is too easy. Too good to be true. It seems like crypto, and bitcoin in particular, is being treated not as a product that fills a service or a consumer need as much as it is a commodity, where much if not all of the value is people speculating.

 

 

 

But again, I don't know much about it.

 

Tell me why I'm wrong.

I agree with a lot of this sentiment. I have said (partially due to lack of understanding of the whole thing) for a while now that this was the type of thing I would invest in only to it collapse and I would lose everything.

[peenie 1,690]

I read an article that said Bitcoin was created to avoid fees and yet has the highest fees.

[Gladiators 1,904]

So help me out here guys...

 

I'm really struggling with the decision of whether to buy this rig or not.

 

I've heard 90's say that this is an investment in the technology... But then today when I was talking to my guy, I asked him, "How would people send you money to pay for rigs? Bitcoin?"

 

He said, "No, Bitcoin is too slow, and has too high fees. Have them buy LTC and send that."

 

So I'm thinking... why would I want to mine a crypto currency that even people who are heavily invested in crypto and are big believers don't even want to use?

 

Then I'm thinking... why would the people who make and sell these machines be selling them? If they pay for themselves in two months time, why not just plug them in and mine them themselves?

 

My head is just telling me that this is too easy. Too good to be true. It seems like crypto, and bitcoin in particular, is being treated not as a product that fills a service or a consumer need as much as it is a commodity, where much if not all of the value is people speculating.

 

 

 

But again, I don't know much about it.

 

Tell me why I'm wrong.

 

This. I have asked so many questions in this thread that have gone unanswered. It is EXACTLY like a Ponzi scheme, in my opinion, at this point. There is a bunch of buzz. There are a ton of people buying to get in on gains. However, they're not buying because they truly believe it's the "future" currency everyone will used. They're not buying it because they want to be ready for when the mortgage company says, "You need to start paying in ABC coin." Sure, there are some that buy because they believe in the technology behind it and believe that it'll be the future currency, but the average Joe buying is only doing so in hopes of making a nice return. Absolutely nothing wrong with that...just saying. It's like a snowball rolling downhill right now, and it keeps on picking up speed.

 

Very interesting thread. It's fun to follow!

[Alias Detective 1,179]

So help me out here guys...

 

I'm really struggling with the decision of whether to buy this rig or not.

 

I've heard 90's say that this is an investment in the technology... But then today when I was talking to my guy, I asked him, "How would people send you money to pay for rigs? Bitcoin?"

 

He said, "No, Bitcoin is too slow, and has too high fees. Have them buy LTC and send that."

 

So I'm thinking... why would I want to mine a crypto currency that even people who are heavily invested in crypto and are big believers don't even want to use?

 

Then I'm thinking... why would the people who make and sell these machines be selling them? If they pay for themselves in two months time, why not just plug them in and mine them themselves?

 

My head is just telling me that this is too easy. Too good to be true. It seems like crypto, and bitcoin in particular, is being treated not as a product that fills a service or a consumer need as much as it is a commodity, where much if not all of the value is people speculating.

 

 

 

But again, I don't know much about it.

 

Tell me why I'm wrong.

The last people in always get screwed. Just don't be the last....and yes, making only was almost this easy in the 90's with tech. Your friends concern is exactly yours......The big what if. This is why he is willing to risk $120,000 or so. Otherwise, he'd be raising capital and have loans out the ears. Instead, he is spreading the risk AND making money off of your rig and likely off the price of the rig you buy from him.

[edjr 5,556]

woke up at 3, couldn't get back to sleep. all i could think about was focking Crypto Currency. Get out of my head!

[patweisers44 697]

This is definitely the 50 year old, tech un-savvy, guy speaking ....but explain to me the difference between this and beanie babies, baseball cards, or collector Elvis plates from the Franklin Mint.

[edjr 5,556]

This is definitely the 50 year old, tech un-savvy, guy speaking ....but explain to me the difference between this and beanie babies, baseball cards, or collector Elvis plates from the Franklin Mint.

 

none of those things went up in value 467% in a month

 

 

 

$348.18

LITECOIN PRICE

+$286.78

SINCE LAST MONTH (USD)

+467.07%

$697.28

ETHEREUM PRICE

+$380.86

SINCE LAST MONTH (USD)

+120.37%

SINCE LAST MONTH (%)

$17,417.03

BITCOIN PRICE

+$10,787.41

SINCE LAST MONTH (USD)

+162.72%

SINCE LAST MONTH (%)