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.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
CTA513
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.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
dougdirt
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
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
Raisor
Full disclosure: Douglas lives on Mars
Only in my mind.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
dougdirt
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?
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
BernieCarbo
Have you done it lately?
I've never run my house off of a 650 watt power supply.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
dougdirt
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.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
BernieCarbo
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.
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.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Up five bucks for the day so far.
Crushing it with crypto-currency
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
dougdirt
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.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
BernieCarbo
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.
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
dougdirt
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?
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
Cyclone792
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
Re: Buying Altcoins/Bitcoins and investing in the stock market
Quote:
Originally Posted by
dougdirt
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.