cryptocurrency mining

Bible_Belt · Feb 10, 2014

Does anyone know anything about this topic?

http://en.wikipedia.org/wiki/Cryptocurrency
http://www.coinwarz.com/cryptocurrency

A friend of mine is about to drop $20k on computers that will cost about $800/month in electricity to operate. And he thinks he will make money. He says bitcoin is done, but there is potential in litecoin and some of the newer cryptocurrencies.

The mining rigs are so expensive, I told him he should just build those and sell them:
http://www.ebay.com/itm/Monster-220...1243012530?pt=Desktop_PCs&hash=item417b63cdb2

And from what I see at this site: https://coinmkt.com/#/ cryptocurrency can be traded on electronic markets just like stocks. It seems to be a completely separate angle from the mining idea.

n00bPimp · Feb 10, 2014

I made some good money in bitcoin last november and i think it could happen again with the other cryptocurrencies. In regards to mining, it is probably not very cost effective now, but if cryto currency prices go up then they will get a return on their investment

Vice · Feb 10, 2014

Those who became the wealthiest and STAYED the wealthiest during the California gold rush were not the speculators; it was those who sold the speculators their equipment and supplies.

Bible_Belt · Feb 10, 2014

Vice, that was my advice to the guy. He says he can build a mining computer and flip it for a $700-900 profit. I told him the story of Levi Straus making his fortune selling denim for tents to miners. The jeans for which he is known were an afterthought, made with the leftover scraps.

I told him that another reason to stick to building computers was that he avoids the questionable legality of cryptocurrency. Converting it to real money is money laundering, and the government has started making their first arrests. They don't take threats to the almighty dollar very lightly.

Vice · Feb 10, 2014

Bible_Belt said:
Vice, that was my advice to the guy. He says he can build a mining computer and flip it for a $700-900 profit. I told him the story of Levi Straus making his fortune selling denim for tents to miners. The jeans for which he is known were an afterthought, made with the leftover scraps.

I told him that another reason to stick to building computers was that he avoids the questionable legality of cryptocurrency. Converting it to real money is money laundering, and the government has started making their first arrests. They don't take threats to the almighty dollar very lightly.

Arrests huh? Sometimes I look up at a flagpole and expect to see the hammer and sickle waving in the wind.

Vulpine · Aug 5, 2014

I looked into the bitcoin mining thing, and cryptocurrency.

Funny, about the gold mining reference, because I ultimately drew the conclusion that my time would be better spent actually mining gold.

I would bypass legalities, fiat currencies, and investing by holding gold in my hands.

I could see through the whole cryptocurrency marketing hustle, though. It was assumed that it was all a "buy this so you can make these" deal, and a flimsy one at that. Creating a need... for what, exactly? Things that you have to turn into other things with risk? Nah, a fool's errand to be sure.

taiyuu_otoko · Aug 13, 2014

Bible_Belt said:
Vice, that was my advice to the guy. He says he can build a mining computer and flip it for a $700-900 profit. I told him the story of Levi Straus making his fortune selling denim for tents to miners. The jeans for which he is known were an afterthought, made with the leftover scraps.

I told him that another reason to stick to building computers was that he avoids the questionable legality of cryptocurrency. Converting it to real money is money laundering, and the government has started making their first arrests. They don't take threats to the almighty dollar very lightly.

You really want to make some money with minimal investment, just write a "How To" guide like you explained to your friend. Go through, step by step, even explain what Vice said. Outsource the whole thing, fill it with videos, etc.

Spend maybe 2K up front, and then sell the finished product again and again and again for $99 a pop or something.

-----------------------------------------------------------------------

Your Guide To Profiting From The Coming Gold Rush

Dear Friend,

Did you know that the biggest money makers during the LAST gold rush weren't the miners, but the people who sold them the equipment?

Let me tell you a story. See I used to be broke and living in my car, but then I overheard these two guys talking about something called "Bitcoin."

"What-coin" I said. Well,....

dasein · Aug 14, 2014

The regulatory uncertainty would preclude this from my list of interesting business plans. This is just the kind of thing that bureaucracies like to grow on. When it's time for the big power grab, new bureaucracies and massive spending, we will start to see MSM coverage of e-currencies in relation to drug-dealing, terrorism, fraud and ponzi schemes, slavery even. "WHAT IS GOVERNMENT DOING ABOUT THIS NEW THREAT!?" The plaintiff's bar will also be sharpening their knives on this in the background as well. The industry has no juice, lobby, power-base to prevent this reaming, so unless one has a crystal ball, caveat emptor.

cryptocurrency mining

Bible_Belt

Master Don Juan

n00bPimp

Master Don Juan

Vice

Master Don Juan

Bible_Belt

Master Don Juan

Vice

Master Don Juan

Vulpine

Master Don Juan

taiyuu_otoko

Master Don Juan

dasein

Master Don Juan