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Thread: Bitcoin

  1. #637

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    Default Re: Bitcoin

    I'd bet there is some entity in the world that can break an IronKey, but not for this kind of usage.

    Stefan Thomas, a German-born programmer in San Francisco, told The New York Times this week that he forgot the password to his IronKey, a secure hard drive with the keys to his wallet with 7,002 Bitcoins, or about $US220 million ($280 million) worth. IronKey gives users 10 guesses to get their password right before encrypting the hard drive’s contents; Thomas has two more tries left.
    https://stockhead.com.au/tech/a-germ...0m-in-bitcoin/

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  3. #638

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    Default Re: Bitcoin

    Any thoughts on technical setup right now? Bullish pennant breakdown or still intact? Support at 30,000?

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  5. #639

    Default Re: Bitcoin

    Quote Originally Posted by Bullitt View Post
    Even if you can get your hands on a powerful graphics card, the amount you'll spend in energy and cooling costs will never offset the money spent.

    The majority of miners are in China where they often get "free" electricity from state run (coal) entities. It's a whole system with involvement to the top of the CCP chain.

    One thing I'll agree with gold bugs on is they have a physical thing. When the apocalypse/meltdown/collapse that they talk about comes, at least they'll have their gold coins. When it ends, so does electricity and so does bitcoin. Personally, I think the 2nd amendment is a much better option than any of the above if you're planning on the end of times.

    RE: Ponzi scheme. Probably not Bitcoin or Ethereum, but what about the thousands of alt-coins out there just doing it for an initial offering?
    Oh I didn't want the card for mining, I want it to play games lol. But I guess the idea is, even if its not profitable to mine now, you are hoping the coins will be worth much more later, and then it would have been very cost effective. The guy I sold my parts to said he had 26 GPUs and was getting "a little over 1 Ethereum a month". So at current prices, it would take 1-2 years to get your money back for just the GPUs

    Quote Originally Posted by bmneveu View Post
    Miners also process the transactions.
    I knew the mining resources was what does the transactions, but surely that is a small percentage, right? Otherwise NEEDING this massing computational power just to have the system running would seem like a massive downfall.
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  7. #640

    Default Re: Bitcoin

    Some reasons for concern although the one thing it may have going for it now is that it has been rebounding just before testing the 50-day EMA in the last few months.




    Longer term it looks like the 200-day EMA may want back in the picture...

    Tom
    Market Commentary | My Blog | TSP Talk Plus | |

    I am not a Registered Investment Advisor. Do your own due diligence.

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  9. #641

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    Default Re: Bitcoin

    Winter is coming.


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