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Cryptocurrency?

Posted: Mon Jan 01, 2018 3:58 pm
by Nightshade
I'm sure you have all heard about Bitcoin for the last year or two if not earlier...and it's most likely too late to ride the bubble to make some money off of it-

but has anyone here dabbled in mining or using these currencies? Just curious.

Re: Cryptocurrency?

Posted: Mon Jan 01, 2018 4:06 pm
by Krom
My cousin apparently lost like $100,000 worth of bitcoin when the outfit he used to store his digital wallet got cleaned out by hackers. Though it might be worth more than that now. There are a lot of different cryptocurrencies out there these days, most of them branches of bitcoin, but in general it is something you can pour like $120 worth of electricity into getting $140 worth of coin out of per month if you are lucky. Waste of time and energy, if you wanted to be in on bitcoin and get something from it, that was in 2008 when it came out and was worth fractions of a cent per coin, not the $15,000-20,000 it is worth today.

Re: Cryptocurrency?

Posted: Tue Jan 02, 2018 2:38 pm
by vision
Krom wrote:
Mon Jan 01, 2018 4:06 pm
if you wanted to be in on bitcoin and get something from it, that was in 2008 when it came out and was worth fractions of a cent per coin, not the $15,000-20,000 it is worth today.
Yup. Guy I know was trying to get me into Bitcoins back in 2009-ish. Not only did I not have hardware strong enough to mine coins at any reasonable rate, I simply wasn't interested in investing in something I couldn't use. I'm still not interested and can't see a practical use for Bitcoins (although that guy I know seems to have done well for himself in that regard, he's got a really nice house!). Crypo Currency will likely be the status quo in the future, but there are a lot of hurdles to overcome before that day.