Was anyone else long on Bitcoin Cash before today?

Discussion in 'General' started by Knotcher, Nov 12, 2017.

  1. Knotcher

    Knotcher Well-Known Member

    This insanity might fund a couple of SC1s...
     
  2. GRH

    GRH Well-Known Member

    No, but I've been watching it quite a bit over the last couple years
    On another topic of Bitcoin. What incentive will there be for the computers used to mine and also validate transactions after the 21 million coins are are mined? I understand it gets exponentially more difficult as the number approaches the 21 so will there be a tipping point of power consumed versus the mining ? If these same computers are used to validate the open source wallets will there be a reason for them to stay online?
    Will John McAfee hold up his bet : )
     
  3. zertrider

    zertrider Waiting for snow. Or sun.

    I still do not understand what the hell bitcoin is, and I have tried to make sense of it a couple if times. What is the 'currency' backed by?
     
  4. baconologist

    baconologist Well-Known Member

    The full faith and credit of the digital .gov
     
    tigerblade, BigBird and _indy like this.
  5. dtalbott

    dtalbott Driving somewhere, hauling something.

    Isn't there a difference between Bitcoin and Bitcoin Cash?
     
  6. HPPT

    HPPT Admin/Mod

    :stupid: The longest it has ever made sense to me is about five minutes after it was all explained to me. Every time. :D
     
    SpeedyE, Paige, G2G and 5 others like this.
  7. shakazulu12

    shakazulu12 Well-Known Member

    I actually forgot I had some in a wallet since the notifications from it go to my spam folder. Not a huge amount, but it's increased nicely.

    Looks like I'm buying another gun tomorrow.
     
  8. DucatiBomber

    DucatiBomber DJ Double A


    Absolute truth.
    I had a entire class on BitCoin. It made perfect sense until I tried to explain it again. Lol
    This much is for sure ... it’s not insured and extremely high risk.


    Ride safe,
    AAron
     
    bbsteinnewyork likes this.
  9. Knotcher

    Knotcher Well-Known Member

    Bitcoin cash is a fork of bitcoin core. There was a rift in the community over some of the core aspects of bitcoin. It started as basically the same software but a new ledger. Over time, it has drifted a bit in design and capabilities.

    Math, which creates scarcity because resources are required to mine the "coins". It's also backed by people deciding that it is worth something. In other words... more than what your USD are backed by.

    It should be considered high-risk. Also, almost nothing as an investment that will return anything meaningful is insured. Your USD are not insured.
     
    GixxerBlade likes this.
  10. sdiver

    sdiver Well-Known Member

    I sold mine for bitcoin right after the fork. So no I didnt see this coming. And still dont believe its anything but a pump and dump with grab for power elements.
     
    bbsteinnewyork and shakazulu12 like this.
  11. sdiver

    sdiver Well-Known Member

    Nobody knows for sure but probably transaction fees. Wont happen for at least 100 years.
     
  12. Knotcher

    Knotcher Well-Known Member

    If anyone is playing stupid games for power it is the core team.
     
  13. sdiver

    sdiver Well-Known Member

    Reversion to reality today.
     
    Knotcher likes this.
  14. Knotcher

    Knotcher Well-Known Member

    If that was reality... I don't know what is happening now.
     
  15. TurboBlew

    TurboBlew Registers Abusers

    damn... it got some vertical! :D
     
  16. I paid for a all amount of Christmas, few donations and a nice piece of jewelry for the wife today.
     
  17. Dave K

    Dave K DaveK über alles!

    Can you cash out? Sell your bitcoins for actual cash? What kind of impact is there with these things on your taxes?
     
  18. auminer

    auminer Renaissance Redneck

    It's anonymous, maaaannn... like, no taxes and stuff...

    -- anonymous & soon to be incarcerated dude on the goretubes
     
  19. Knotcher

    Knotcher Well-Known Member

    Yes.

    Depends.
     
  20. Knotcher

    Knotcher Well-Known Member

    Yeah. It's best to just keep it above board.
     

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