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Old 12-05-2017, 10:18 PM   #1
biggunsbob   biggunsbob is online now
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Bitcoin not so good for the environment

http://www.motherjones.com/environme...e-environment/
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Old 12-06-2017, 07:32 AM   #2
tomdalton22   tomdalton22 is online now
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I still don't understand the hype behind Bitcoin
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Old 12-06-2017, 08:17 AM   #3
michchamp   michchamp is offline
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Originally Posted by tomdalton22 View Post
I still don't understand the hype behind Bitcoin
It's been around for a while. I remember around 2010 or so, a coworker asked if he thought we could use the 10 workstations in the room where we staffed temps to mine bitcoin. ("There is no way IT would miss the unusual data traffic and when they figure out it's you, you'll get fired.")

this year Goldman Sachs, and I assume other i-banks have been hyping it. they figured out how to make money inflating another asset bubble. maybe they're charging their muppets exhorbitant fees to invest in bitcoin for them?
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Old 12-06-2017, 08:25 AM   #4
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I've downloaded Bitcoin mining apps and software beginning years ago, but never got around to installing and running them. Silk Road was once THE site to use them on, but obviously the Rx and illegal drug trade being permitted to grow and flourish there led to its eventual doom. Now virtually no home user has anywhere near the computing power to mine them any longer. The other problem is that they must be stored/saved on disk or thumbdrive or cloud, making them vulnerable to (accidental) deletion. I read one story about a Bitcoin investor who inadvertently lost the external HDD that he had his $10K worth of coins stored on, and learned that it wound up in a landfill. His vanished cache is probably worth more than 10x that amount now.

The other way to acquire Bitcoins, is having items to sell (or live"view") on the Darkwebs which are desirable to those who possess them. Wouldn't be surprised if there are many wealthy celebs and execs who have Bitcoins, just b/c of their relative scarcity, the fact that they can easily afford to, and owning something unusual and unique to brag about to their golfing buddies @ their country club.

I imagine that posessing cryptocurrency that is not controlled by the Fed Reserve, or the IMF, would be kinda sublime for awhile.
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Old 12-06-2017, 09:17 AM   #5
turok   turok is offline
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Originally Posted by michchamp View Post
It's been around for a while. I remember around 2010 or so, a coworker asked if he thought we could use the 10 workstations in the room where we staffed temps to mine bitcoin. ("There is no way IT would miss the unusual data traffic and when they figure out it's you, you'll get fired.")
If you guys were going to try to mine them in a short period of time back then, IT would likely have caught on, but had you been more patient, and did so over a year or two for a smaller amount created, then maybe the extra activity might have passed unnoticed.
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Old 12-07-2017, 11:56 AM   #6
Mitchrapp   Mitchrapp is online now
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First time I heard about bitcoin was on an episode of The Big Bang Theory.
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Old 12-07-2017, 11:57 AM   #7
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NiceHash looted of $62M in cryptocurrency, including members' bitcoins...yikes!!

One of the drawbacks of not being insured, apparently.

https://www.theregister.co.uk/2017/1...coin_pilfered/

Can't say I feel sorry for them, or their well-heeled clientele.

The ether giveth, the ether taketh away.
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Old 12-09-2017, 09:36 PM   #8
tigermud   tigermud is offline
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I've been studying it for a few weeks now and playing around with it with lottery money bought into an ethereum competitor cheap. Eventually could see this becoming gold backed and looks like one can even obtain gold money with crypto, interesting stuff.

Approx 80m baby boomers
50m generation x'ers (me)
89m millennials

Whether you like it or not (I for one do not) but the future is digital money, the kids out number us, and this is what they are in to, after a super large crash wouldn't be surprised if the banks find away to take it all over and enslave us all into this beast coin or whatever derivative they cook up. But heck throw a few darts at some alt coins and tuck it away for a few years. The increased demands on the electrical grids from all the Mining and blockchain will drive innovation and force us to finally rebuild the grid which is long over due, need to protect it againts emp and or cme before it's too late.

The world is changing at an ever increasing pace, heck just updated my iPhone to iOS 11 today and now it keeps bugging me to set up an apply pay account. NO! Leave me alone don't want no damn Apple Pay account which is just another digital money system, one of hundreds out there. Everybody's got thier own, there is even one for pot shops potcion

Futures market starts for bitcion tommorrow that will let the bankers short the shit out of it now, when everybody is shouting I told you so about it crashing and being a bubble I'll be slowing throwing darts at alt coins at much lower prices and backing up the wallets for the safe then see what survived and still there in 5-10 years, it will only take one, gold will benefit from this greatly as well IMO, eventually I can see this being used as a way to flush debt out of the system into a new system backed by gold slowly of course as to not cause major disruption

Last edited by tigermud; 12-09-2017 at 10:07 PM.
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Old Yesterday, 12:16 AM   #9
biggunsbob   biggunsbob is online now
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Implants in the head at birth .. oh yeah they are a coming !!!!!
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