Cryptocurrency

[Jurgens Smit]

Howsit all, just wanted to find out how many cryptocurrency investers there are on the hub?

What are your opinions?

Methods?

Tips and advice?

 

I just ordered myself a Antminer D3 and already have a bitcoin Antminer L3+ running at home.

I've got a 100mb/s fiber link with traffic prioritized for them during the day (5AM - 5PM).

 

Doing decent so far.

[GrumpyOldGuy]

The only Antminer I know of is a mammalian long nosed Anteater which usually lives in South America. 

 

Everyone talks about these Bitcoins and other Cryptocurrencies and I have absolutely no idea what they are on about, I simply cannot see how you change a Cryptocurrency into real dollars that I can take to the store and buy something, and how do you get change?... its totally beyond me, so I will follow this thread with interest and see if I can learn something.   

[Goodbadugly]

Ask yourself:

Did Warren Buffett invest in cryptocurrencies?

[Rocket-Boy]

Crypto is great when you mine it, not so much when you buy it.

[bertusras]

investors

 

https://thenextweb.com/contributors/2017/05/28/difference-investing-speculating/

[Jurgens Smit]

Ask yourself:

Did Warren Buffett invest in cryptocurrencies?

 

Cryptocurrency wasn't around when warren buffet made his money.

To get started in Forex/Bonds/Stocks you need huge(massively huge) amounts of capital to make a decent living.

 

The first Miner cost me around 30k and it's already been made back to me.

[Jurgens Smit]

The only Antminer I know of is a mammalian long nosed Anteater which usually lives in South America. 

 

Everyone talks about these Bitcoins and other Cryptocurrencies and I have absolutely no idea what they are on about, I simply cannot see how you change a Cryptocurrency into real dollars that I can take to the store and buy something, and how do you get change?... its totally beyond me, so I will follow this thread with interest and see if I can learn something.   

 

You get paid for processing cryptocurrency transactions online(essentially your miner is a glorified bank teller). These transaction fees get paid into an online wallet in whichever currency you are processing for (ex Bitcoin). You then sell your bitcoin online as you would forex.

 

That's a really vague description, but it covers the absolute basic process.

[jcza]

Mining Litecoin and not BTC? 

[GrumpyOldGuy]

You get paid for processing cryptocurrency transactions online(essentially your miner is a glorified bank teller). These transaction fees get paid into an online wallet in whichever currency you are processing for (ex Bitcoin). You then sell your bitcoin online as you would forex.

 

That's a really vague description, but it covers the absolute basic process.

Aah okay, so if I understand correctly then, once you have a Bitcoin (whatever a bitcoin is) you can / have to trade (sell) this Bitcoin for real dollars? (ie) That is Dollars that I can take to McDonald's and buy a burger and shake or put gas in my car etc? 

 

If that is correct who then is controlling the value of this Bitcoin, or is it sort of an auction value, (ie) I have one to sell and whoever pays the most gets it.?

 

Sorry for the questions, but you will need to be patient with me, I am old and I dont understand this stuff.    

[lerouc]

I am also interested but dont know enough...i saw that PNP is going to start accepting bitcoin as payment options at tills:

[eddy]

Cryptocurrency wasn't around when warren buffet made his money.

 

 

The first Miner cost me around 30k and it's already been made back to me.

 

 

I put 30k on red and made it back in 30 seconds..........

 

 

 

.

[Squier]

There's value in a universally accepted digital currency. Holding a currency in your wallet that you can use anywhere in the world. Germany has formally accepted Bitcoin as a digital currency, you can buy your train tickets in Swtizerland with Bitcoin, Pick 'n Pay is exploring the possibility locally, etc. The wider it is accepted the more valuable it will become.

 

The main challenge is regulating it, as no one owns the currency, like the SARB owns the ZAR.

[DIPSLICK]

Howsit all, just wanted to find out how many cryptocurrency investers there are on the hub?

What are your opinions?

Methods?

Tips and advice?

 

I just ordered myself a Antminer D3 and already have a bitcoin Antminer L3+ running at home.

I've got a 100mb/s fiber link with traffic prioritized for them during the day (5AM - 5PM).

 

Doing decent so far.

i hit  translate and google was still wtfffff

[MTBeer]

i hit  translate and google was still wtfffff

you and me both bru'.

 

All the toppies all like huh?

[Skubarra]

Ask yourself:

Did Warren Buffett invest in cryptocurrencies?

 

 

 

Sorry for the questions, but you will need to be patient with me, I am old and I dont understand this stuff.    

 

 

i hit  translate and google was still wtfffff

 

 

Just curious (to me) to see this in the same thread. As I understand one of Warren Buffet's principles in investment is that he only invest in things he understands (Gillette, Coke, Heinz etc) and generally avoids investment in things that doesn't make sense to him ( which is why he rarely invests in new technologies) This is partly how he managed to avoid the Dot Com & sub-debt market crashes.

 

I think I am going to follow his principle on this, as long as this bit-coin thing doesn't make sense to me and I have no idea whether it is going to bancrupt me or make me rich, I would rather avoid and leave the speculation to braver people. (As per Bertus's article)

Edited September 28, 2017 by Skubarra

[Zatopek]

I follow this Rolling Alpha blog that have a good number of articles related to crypto currencies. 99% of the time I have no idea what he is talking about 
 
This Tether article finish with a comment that really put me at ease: 
 

"Someone (or a group of someones) is manipulating the Bitcoin market"