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Is anyone in the BITCOIN market?


Lambofan35
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Litecoin is moving up a lot today. from $5 last week to $28 now.

 

What I don't get is other then trying to make money off the coins going up in value. What is the every day use for crpyocurreny?

 

Why would I want to use it to buy things instead of cash?

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no transaction fees for merchants is a big deal... instant payments... if you made $$ with bitcoin, you could buy things without having to exchange it for cash, which there are transaction fees for...

 

 

 

Litecoin is moving up a lot today. from $5 last week to $28 now.

 

What I don't get is other then trying to make money off the coins going up in value. What is the every day use for crpyocurreny?

 

Why would I want to use it to buy things instead of cash?

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no transaction fees for merchants is a big deal... instant payments... if you made $$ with bitcoin, you could buy things without having to exchange it for cash, which there are transaction fees for...

 

Also no chargebacks for merchants is a big deal.

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Discouraging for consumers though...

 

You mean the consumers who commit fraud all the time without consquence while leaving the merchants with the bag? :P

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Also remember that if cybercurrencies becomes a currency that stays there are a lot of shady business that it makes a lot easier. Cybercurrency stays outside of the nosy banks and officials and is sort of an untraceable currency which I think many criminals would love to exist.

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I ordered parts yesterday for a litecoin mining right for the fun of it. At current difficulty I would recoup the equipment cost in 1.5 months.

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I ordered parts yesterday for a litecoin mining right for the fun of it. At current difficulty I would recoup the equipment cost in 1.5 months.

 

Linux rig? How many GPUs?

 

 

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I ordered parts yesterday for a litecoin mining right for the fun of it. At current difficulty I would recoup the equipment cost in 1.5 months.

 

 

what parts did you order?

 

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i got a flux capacitor on order.. should be great!. but in all seriousness this stuff is interesting. love the updates. got me reading more about it for sure.

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what parts did you order?

 

I wanted to get AMD 7950s but they are sold out everywhere. I ordered 8x 7970s and 8x R9 280X. The 7970s are XFX which are not ideal for scrypt mining, but I'm hoping I can get them up to a decent speed.

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sounds like an easy $100/day with that setup....

 

 

I wanted to get AMD 7950s but they are sold out everywhere. I ordered 8x 7970s and 8x R9 280X. The 7970s are XFX which are not ideal for scrypt mining, but I'm hoping I can get them up to a decent speed.

 

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indeed, just have to go the LTC route, which has been great lately.....

 

however, these ASIC's are going way up in value as BTC goes up... a unit that was $5k a few weeks ago is going for $25k+ on ebay now....

 

 

I think GPU mining is better. At the end of the day you at least have hardware that's not worthless. Keep boxes and throw it back on Amazon for a discount when you upgrade equipment vs worthless ASICs.

 

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I come in here and feel like an old man. I have not a flying fcuk what you guys are talking about. But good for you for being smart and doing this kind of stuff.

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I come in here and feel like an old man. I have not a flying fcuk what you guys are talking about. But good for you for being smart and doing this kind of stuff.

I'm with you. Huh, what, oh, wait what?

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Seems like the "wild west" a bit...like a virtual stock market that's unregulated and ready to bubble. The whole thing relies on people having faith in it, much like the stock market. I would not doubt that some people will make some money off of it, but I think the risk factor is a bit high (especially now) for new players to think about investing.

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