Okay, Bitcoin looney birds, take notice what the Winklevoss twins did today

[tto827]

if you had bought $1000 worth of Bitcoins in 2009 when they were valued at a little less than half a cent (0.0048), you'd have owned over 208,000 Bitcoins.

at current price of 750, that $1000.00 stake would be worth over $156 MILLION.

out of 6 billion people on the earth, someone surely did this, shoved an offline wallet in their sock drawwer and hit paydirt after completelyly forgetttign about it? a time capsule somehwere perhaps?


there are people set for life now with this toilet paper currency

It's all unrealized wealth. Until you successfully get a legit asset, you don't got much. Granted it'll always be more than $.50 so they'll still get quite a nice return.

Sooner or later the selling has to start..... Right?

[sourtwist]

I always miss the boat

[Nut_Flopper]

if you had bought $1000 worth of Bitcoins in 2009 when they were valued at a little less than half a cent (0.0048), you'd have owned over 208,000 Bitcoins.

at current price of 750, that $1000.00 stake would be worth over $156 MILLION.

out of 6 billion people on the earth, someone surely did this, shoved an offline wallet in their sock drawwer and hit paydirt after completelyly forgetttign about it? a time capsule somehwere perhaps?


there are people set for life now with this toilet paper currency

Read this article a few weeks ago

http://www.dailymail.co.uk/news/article-2479011/Bitcoin-investor-forgot-bought-17-currency-checks-years-later-worth-551-000.html

I bought 10 bitcoin in January @ $13 per. Sold it months ago at $180 and kicking myself I didn't go in large. Just wanted to try some of the bitcoin based books wasn't looking at it as an investment. Figured when it hit $240 a while back it had peaked. I bought and sold a little off and on but cautious thinking it will eventually tank and I would go in big. Just watch the charts and ride the wild swings.

[Optional]

Imagine how much some of the geek teenagers would have made that started mining these things at the start.

[sbrhedge]

Imagine how much some of the geek teenagers would have made that started mining these things at the start.

They already spent it on pizza:

http://motherboard.vice.com/blog/this-pizza-is-worth-750000

now those 10K bitcoins are worth $7,000,000

[broadway6]

I guess the twins made a few dollars. What's a coin worth now?

[PAULYPOKER]

[PAULYPOKER]

											338,672,336.04 CNY
USD	<nobr>Mt. Gox</nobr>mtgoxUSD	8690 min ago	<canvas width="60" height="30" style="display: inline-block; width: 60px; height: 30px; vertical-align: top;"></canvas>	414.74454.26 109.53%	1,082,758.27449,065,069.17 USD	175.30001742.46 (24h)	900.97998889.99999 (24h)	868.38499	868.385	811.0157.99 7.15%	24,929.5320,218,025.57 USD
]USD	<nobr>BitStamp</nobr>bitstampUSD	853.584 min ago	<canvas width="60" height="30" style="display: inline-block; width: 60px; height: 30px; vertical-align: top;"></canvas>	372.71480.87 129.02%	957,348.59356,816,782.25 USD	156.2734.01 (24h)	853.58853.58 (24h)	853.58	854	790.0663.52

[elgreco]

I made threads, SBR laughed.

Bitcoin was $7 when I made this thread:
http://forum.sbrforum.com/saloon/1526199-bitcoin-thread.html

Bitcoin was $12 when I made this thread that got pulled over and over by SBR:

http://forum.sbrforum.com/nominated-posts/2127378-using-bitcoin-bet-sports.html

You suckers.

[PAULYPOKER]

I made threads, SBR laughed.

Bitcoin was $7 when I made this thread:
http://forum.sbrforum.com/saloon/1526199-bitcoin-thread.html

Bitcoin was $12 when I made this thread that got pulled over and over by SBR:

http://forum.sbrforum.com/nominated-posts/2127378-using-bitcoin-bet-sports.html

You suckers.

[QuantumLeap]

I made threads, SBR laughed.

Bitcoin was $7 when I made this thread:
http://forum.sbrforum.com/saloon/1526199-bitcoin-thread.html

Bitcoin was $12 when I made this thread that got pulled over and over by SBR:

http://forum.sbrforum.com/nominated-posts/2127378-using-bitcoin-bet-sports.html

You suckers.

I don't see any bitcoin sportsbooks reviewed on SBR. I think it would serve SBR well to do some reviews on these books.

[elgreco]

That second link is all that's left from a thread with thousands of views and hundreds of posts. SBR pulled that thread over and over, i reposted a few times and then was told my account would be suspended if i tried to post it again. *shrug*

[BriGuy]

I made threads, SBR laughed.

Bitcoin was $7 when I made this thread:
http://forum.sbrforum.com/saloon/1526199-bitcoin-thread.html

Bitcoin was $12 when I made this thread that got pulled over and over by SBR:

http://forum.sbrforum.com/nominated-posts/2127378-using-bitcoin-bet-sports.html

You suckers.

The only suckers are the ones holding the bitcoins when the Ponzi scheme - uh I mean market - finally collapses. You got out. Good for you. The first people in and out on a Ponzi scheme are always the ones who make money.

[ACoochy]

18 trillion and dipshit above wants to talk Ponzi schemes other than the one his country is running

Hey Biguy, worry about your own backyard...18 trillion

Cant make this level of stoopid up...

[PAULYPOKER]

^Priceless!

[PAULYPOKER]

The only suckers are the ones holding the bitcoins when the Ponzi scheme - uh I mean market - finally collapses. You got out. Good for you. The first people in and out on a Ponzi scheme are always the ones who make money.

[PAULYPOKER]

USD	Mt. GoxmtgoxUSD	927.33344 0 min ago		480.66446.67 92.93%	1,027,235.79493,753,870.78 USD	189765 (24h)	950950 (24h)	928.005	930	863.3064.03 7.42%	39,066.2233,725,911.69 US

[PhillyFlyers]

USD	Mt. GoxmtgoxUSD	927.33344 0 min ago		480.66446.67 92.93%	1,027,235.79493,753,870.78 USD	189765 (24h)	950950 (24h)	928.005	930	863.3064.03 7.42%	39,066.2233,725,911.69 US

Where's Sam Diamond? Those damn Winklevoss twins destroyed Bitcoin.

[pico]

it is going to 1300 usd per coin soon

[elgreco]

[PAULYPOKER]

USD	<nobr>Mt. Gox</nobr>mtgoxUSD	1020 0 min ago	<canvas height="30" style="width: 60px;"></canvas>	494.41525.59 106.31%	1,035,859.55512,140,924.03 USD	200.42860.001 (24h)	10441044 (24h)	1007.48	1012.8	949.0071.00 7.48%	34,955.8633,173,000.45 USD
USD	<nobr>BitStamp</nobr>bitstampUSD	954.76 28 min ago	<canvas width="60" height="30" style="display: inline-block; width: 60px; height: 30px; vertical-align: top;"></canvas>	441.34513.42 116.33%	945,174.59417,144,000.04 USD	190.8829.86 (24h)	963.16963.16 (24h)	945	945	886.2568.51 7.73%	30,518.5627,047,192.37 USD
USD	<nobr>btc·e</nobr>btceUSD	922.626 0 min ago	<canvas width="60" height="30" style="display: inline-block; width: 60px; height: 30px; vertical-align: top;"></canvas>	469.39453.24 96.56%	745,525.53349,939,096.62 USD	181.201797 (24h)	937.113937.113 (24h)	917.1	922.626	856.7665.86 7.69%	32,014.6227,428,986.60 USD
USD	<nobr>LocalBitcoins</nobr>localbtcUSD	1008.04 6 min ago	<canvas width="60" height="30" style="display: inline-block; width: 60px; height: 30px; vertical-align: top;"></canvas>	386.43621.61 160.86%	18,521.617,157,378.37 USD	122.35700 (24h)	1882.041882.04 (24h)	3671.92	847.42	902.45105.59 11.70%	464.05418,781.18 US

[PAULYPOKER]

USD	Mt. GoxmtgoxUSD	1053 0 min ago		502.09550.91 109.73%	1,051,590.27527,987,829.87 USD	200.42914.31556 (24h)	10731073 (24h)	1040.20001	1046.00001	984.1468.86 7.00%	40,036.0939,401,105.70 USD
USD	BitStampbitstampUSD	964 0 min ago		448.82515.18 114.79%	959,247.05430,528,152.93 USD	190.8863.24 (24h)	969969 (24h)	963.01	963.01	926.2337.77 4.08%	33,176.3730,728,900.02 USD
USD	btc·ebtceUSD	939 0 min ago		471.98467.02 98.95%	749,797.40353,892,324.06 USD	181.201840 (24h)	950950 (24h)	938.344	939	884.4454.56 6.17%	23,496.0520,780,920.04 USD
USD	LocalBitcoinslocalbtcUSD	1103.9 1 min ago		396.97706.93 178.08%	18,838.567,478,432.48 USD	122.35700 (24h)	2003.42003.4 (24h)	3671.92	847.42	972.27131.63 13.54%	573.50557,593.46 USD

[Jikos]

This shit is a mess waiting to happen

[ACoochy]

This shit is a mess waiting to happen

Agree BUT with china's backing ive no idea how high this will go...

[PAULYPOKER]

Just you wait and see what happens on black Friday

[Optional]

Time to short yourself and be ready to take a profit next correction.

[terpkeg]

The only suckers are the ones holding the bitcoins when the Ponzi scheme - uh I mean market - finally collapses. You got out. Good for you. The first people in and out on a Ponzi scheme are always the ones who make money.

What's a ponzi scheme?

[onemoregoal]

I still dont know what bitcoins are but this made me lol

http://www.dailymail.co.uk/sciencetech/article-2514580/Bitcoins-worth-4m-hard-drive-thrown-Newport-landfill-accident.html

[Optional]

I still dont know what bitcoins are but this made me lol

http://www.dailymail.co.uk/sciencete...-accident.html

Funny funny comments on that article.

[ACoochy]

What's a ponzi scheme?

The US dollar

[Optional]

What's a ponzi scheme?

The state lottery

[SteelRain]

Imagine how much some of the geek teenagers would have made that started mining these things at the start.

The graphics cards that mine the bitcoins were sold out. They've been sold out since 2007 and when they were selling they were selling for $1400 apiece.

Also mining bitcoins takes a bit of know how and the heat/electricity produced by running the cards 24/7 would run you in the negative in real cash flow for a couple of years because bitcoin prices back then were super low.

[Optional]

The graphics cards that mine the bitcoins were sold out. They've been sold out since 2007 and when they were selling they were selling for $1400 apiece.

Also mining bitcoins takes a bit of know how and the heat/electricity produced by running the cards 24/7 would run you in the negative in real cash flow for a couple of years because bitcoin prices back then were super low.

is it true an ordinary laptop could mine them to start with?

I was tech savvy enough to do it. And heard about it and knew how to get hold of the vid cards at the time. But wasn't convinced it was worth it honestly. To be fair I had been involved a bunch of other digital cuirrencies, most of which failed, so was sceptical of anything trying to circumvent the banking system by then.

When is it estimated mining will virtually end due to the size of the computations?

[elgreco]

is it true an ordinary laptop could mine them to start with?

Oh yea. (This upcoming example isn't absolutely correct, but its the simplest way I can put it without writing a novel) There are 3600 brand new bitcoins minted every day. That number is constant, it doesn't change. When you are mining, you are fighting for your share of those coins. Your share of those coins is directly proportional to the amount of work you put in. If there are 100 units of work being performed for the network, and you are doing 10 of them, then you will get 3600*0.1=360BTC a day. In the beginning, there weren't that many units of work being performed, so your laptop was contributing a significant amount. Today, there is a ridiculous amount of work being performed, so even though your laptop can still do the work, its such a tiny amount that it wouldn't be profitable.

At 2 MH/s, you should earn 0.00000142 BTC/day on average (0.00000006 BTC/hr)

^^^ That's what your lappy would probably do now.

When is it estimated mining will virtually end due to the size of the computations?

If what I wrote above communicated effectively, then you should now understand that the answer is "never".

[Optional]

Oh yea. (This upcoming example isn't absolutely correct, but its the simplest way I can put it without writing a novel) There are 3600 brand new bitcoins minted every day. That number is constant, it doesn't change. When you are mining, you are fighting for your share of those coins. Your share of those coins is directly proportional to the amount of work you put in. If there are 100 units of work being performed for the network, and you are doing 10 of them, then you will get 3600*0.1=360BTC a day. In the beginning, there weren't that many units of work being performed, so your laptop was contributing a significant amount. Today, there is a ridiculous amount of work being performed, so even though your laptop can still do the work, its such a tiny amount that it wouldn't be profitable.

At 2 MH/s, you should earn 0.00000142 BTC/day on average (0.00000006 BTC/hr)

^^^ That's what your lappy would probably do now.



If what I wrote above communicated effectively, then you should now understand that the answer is "never".

Thanks for the informative answer.

I thought there might be a point that the complexity of the computation might mean there is not enough computing power available to solve 3600 within 24 hours.