Was anyone else long on Bitcoin Cash before today?

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

  1. sdiver

    sdiver Well-Known Member

    :D can you do 10? I'll let you know when I'm ready
     
  2. SPL170db

    SPL170db Trackday winner

  3. BigBird

    BigBird blah

  4. SPL170db

    SPL170db Trackday winner


    Yes I know. Stealing crypto-currency will become more of a reality once quantum-computing starts making it into the mainstream.
     
  5. Used2Bfast 2

    Used2Bfast 2 Still in the saddle

    When in doubt.. if you can’t hold it.. (it was due, sorry lol)
     
  6. 05Yamabomber

    05Yamabomber Dammit Haga

    Buy the dip! Looks like the sword is done falling. I bet some of that stock market $$ being sold off is going to go into Currency market. I’m still a believer it’s the future. Good thing is, I’m not betting my house and have only bought when low so these corrections don’t hurt me.


    Sent from my iPhone using Tapatalk
     
  7. DucatiBomber

    DucatiBomber DJ Double A

    Why didn’t you sell when it was high to buy more when it dipped again?
    This whole I’m in it for the long run ... never mind.
    About those tulips...


    Ride safe,
    AAron
     
  8. 05Yamabomber

    05Yamabomber Dammit Haga

    Well, people evolve and also learn from previous mistakes. You should always review your previous performance to improve. This is no different.
     
  9. GixxerBlade

    GixxerBlade Oh geez

    Exploiting the lack of internet security isn’t something new. Using it to mine crypto currency is. Hackers having using SCADA and IoT devices as bots for years now. I can see a future where the blockchain is used to protect critical infrastructure.
     
  10. kangasj

    kangasj Well-Known Member

    Man, I am with you. I have been reading about bitcoins this morning and my weak ass brain can't understand what the hell these bitcoins are or what they're mining.

    "Bitcoin mining is the process by which new bitcoins are created and transactions are sent across the network. Both the people who engage in it and the devices that are used for mining are called "miners". In the process of mining, the miners' computers perform the so-called "hashing", producing proof-of-work - they take a series of randomly generated input data strings and apply a specific cryptographic function to it (SHA-256 in Bitcoin's case).

    WTF? What are the transactions for? What the hell is hashing? Producing "proof of work" What is the work used for? This is too confusing for my addled brain to understand where the value comes from.
     
  11. Mongo

    Mongo Sacko

    So glad it's not just me.
     
  12. BigBird

    BigBird blah

    This is what I've gathered.

    No different than current currency, except that drug dealers are harder to find, and people somehow value this more #becauseDrugDealers. Lots of middle people in these transaction, costing lots of transaction fees. Umm, Ponzi scheme. Umm It uses LOTS of energy to create this nothing currency. And anyone can create a currency.

    Should we start MongoCoin?
     
  13. Mongo

    Mongo Sacko

    Go for it! I want 3% for naming rights :D
     
    BigBird likes this.
  14. kangasj

    kangasj Well-Known Member

    Aaaaaaalllllllrighty then. Thanks for clearing it up. So you're saying a bitcoin has value because it takes a lot of computing power to create a shit ton of 1's and 0's. That makes perfect sense. I'll take .02537 of those. It's all the risk I can afford.
     
  15. BigBird

    BigBird blah

    .02537 Bitcoins....that's about $220USD * transaction fees * power fees * some more transaction fees = $750 USD please and it'll take about 3 weeks for you to get it.

    Thanks. Where shall I send the receipt?
     
  16. kangasj

    kangasj Well-Known Member

    Please send these imaginary coins to my imaginary address post haste! I will send you some imaginary coins that I mined in my backyard using complex TI-35 calculations that only I can re-create. They will be difficult to see when you get them because of the encryption I use but take my word for it. They are there....somewhere...
     
    BigBird likes this.
  17. BigBird

    BigBird blah

    pretty much sums up bitcoin :crackup:
     
  18. kangasj

    kangasj Well-Known Member

    Or I can just ship ya a chicken..:D
     
    BigBird likes this.
  19. SPL170db

    SPL170db Trackday winner

    When its as volatile as it obviously is I seriously can't see drug dealers and other criminals making wide use out of it.
     
  20. kangasj

    kangasj Well-Known Member

    True. Criminals in general, tend to be risk adverse.........yes assholes, that is whatcha call sarcasm...
     

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