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Thread: Buying Altcoins/Bitcoins and investing in the stock market

  1. #61
    Sprinkles are for winners dougdirt's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Wait: One bitcoin transaction uses the same amount of power as running my house for 9 days? Bull. Freaking. Crap. My computer can solve a bitcoin transaction. My computer isn't capable of running my freaking house.

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  3. #62
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by CTA513 View Post
    I bought $508 ($8 fee) more in September and its worth about $2400 right now.
    I should probably sell $500 and let the rest ride.
    Yes, you should. Can't lose then.
    “When I use a word,” Trumpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Trumpty Dumpty, “which is to be master—that’s all.”

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  5. #63
    RaisorZone Raisor's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by dougdirt View Post
    Wait: One bitcoin transaction uses the same amount of power as running my house for 9 days? Bull. Freaking. Crap. My computer can solve a bitcoin transaction. My computer isn't capable of running my freaking house.
    Full disclosure: Douglas lives on Mars

  6. #64
    Sprinkles are for winners dougdirt's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Raisor View Post
    Full disclosure: Douglas lives on Mars
    Only in my mind.

  7. #65
    Member BernieCarbo's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by dougdirt View Post
    Wait: One bitcoin transaction uses the same amount of power as running my house for 9 days? Bull. Freaking. Crap. My computer can solve a bitcoin transaction. My computer isn't capable of running my freaking house.
    Have you done it lately?

  8. #66
    Sprinkles are for winners dougdirt's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by BernieCarbo View Post
    Have you done it lately?
    I've never run my house off of a 650 watt power supply.

  9. #67
    Member BernieCarbo's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by dougdirt View Post
    I've never run my house off of a 650 watt power supply.
    You haven't mined bitcoins with one either, at least not this year.

  10. #68
    Sprinkles are for winners dougdirt's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by BernieCarbo View Post
    You haven't mined bitcoins with one either, at least not this year.
    That's true, but I've also seen where people with my GPU have.... and how it broke down last month in terms of the electricity usage.

  11. #69
    Mailing it in Cyclone792's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Doug, no idea what your long-term plans are, but the first best thing you could do for yourself is open up a Roth IRA and buy index funds. Put the max in the Roth if you can afford (currently $5,500 per year).

    Want to keep it really simple? Buy three index funds. Put one-third of your Roth money in a US total market index fund, one-third in an international index fund and one-third in a bond index fund. Dollar cost average once or twice a month into those three funds. Rebalance once or twice per year.

    Do that for 30+ years, and you'll accomplish two things ... 1) you'll outperform 80-90 percent of financial professionals, and 2) you'll have a barrel of money.

    As for bitcoin, I haven't bothered and I don't lose sleep over it.
    The Lost Decade Average Season: 74-88
    2014-17 Average Season: 69-93

  12. #70
    RaisorZone Raisor's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Up five bucks for the day so far.

    Crushing it with crypto-currency

  13. #71
    Member BernieCarbo's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by dougdirt View Post
    That's true, but I've also seen where people with my GPU have.... and how it broke down last month in terms of the electricity usage.
    Technically you could do it on a smart phone, and you might make five cents a year. No one is going to even pay the electricity cost without specialized hardware.

  14. #72
    Sprinkles are for winners dougdirt's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by BernieCarbo View Post
    Technically you could do it on a smart phone, and you might make five cents a year. No one is going to even pay the electricity cost without specialized hardware.
    I can pay the electricity right now with what I've got in my computer I'm typing this on. I wouldn't be making a bunch of money, but it's enough to actually profit.

  15. #73
    Member Redsfaithful's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by dougdirt View Post
    I can pay the electricity right now with what I've got in my computer I'm typing this on. I wouldn't be making a bunch of money, but it's enough to actually profit.
    This is factoring in electricity and burning out a video card every month or two?
    “When I use a word,” Trumpty Dumpty said, in rather a scornful tone, “it means just what I choose it to mean—neither more nor less.” “The question is,” said Alice, “whether you can make words mean so many different things.” “The question is,” said Trumpty Dumpty, “which is to be master—that’s all.”

  16. #74
    Member redsfandan's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by Cyclone792 View Post
    Doug, no idea what your long-term plans are, but the first best thing you could do for yourself is open up a Roth IRA and buy index funds. Put the max in the Roth if you can afford (currently $5,500 per year).

    Want to keep it really simple? Buy three index funds. Put one-third of your Roth money in a US total market index fund, one-third in an international index fund and one-third in a bond index fund. Dollar cost average once or twice a month into those three funds. Rebalance once or twice per year.

    Do that for 30+ years, and you'll accomplish two things ... 1) you'll outperform 80-90 percent of financial professionals, and 2) you'll have a barrel of money.

    As for bitcoin, I haven't bothered and I don't lose sleep over it.
    OR split your money like this:

    40+ % into a total market fund/etf
    15+% split between a tech and health care fund/etf
    25+-% into a broad based intl fund/etf
    15+-% into a fund/etf focused on asia
    "Now that's a real shame when folks be throwin' away a perfectly good white boy like that."

  17. #75
    Member BernieCarbo's Avatar
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    Re: Buying Altcoins/Bitcoins and investing in the stock market

    Quote Originally Posted by dougdirt View Post
    I can pay the electricity right now with what I've got in my computer I'm typing this on. I wouldn't be making a bunch of money, but it's enough to actually profit.
    I don't think you understand how the bitcoin transactions have evolved. Yes, you would profit, just as the people in the article are profiting. But you would be making pennies each month because your hardware isn't capable anymore. You would need specialized hardware that uses tons of electricity to make a living, just as the article explains.


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