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bitcoins

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Cool. Not sure what they mean by loss.
Although one of the comments did mention that profit goes down, and it might not be worth it.
 
UDRider said:
Cool. Not sure what they mean by loss.
Although one of the comments did mention that profit goes down, and it might not be worth it.
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In order to make money mining today, you have to have a very robust computer setup. Like how many tens of thousands of computers would you need to control to make up 1 running at max capacity?

From a malware standpoint you really don't want the pc owner to know you've take control. I've mined on my rig before and it worked great to heat my living room for very little in return. Reduce that significantly and I can see the effort not being worth it long run.

How often is malware identified and shut down? I think it's an effort statement of creating the malware and deploying it fast enough to make any money before it's caught by current detection methods.
 
Yakoo752 said:
In order to make money mining today, you have to have a very robust computer setup. Like how many tens of thousands of computers would you need to control to make up 1 running at max capacity?

From a malware standpoint you really don't want the pc owner to know you've take control. I've mined on my rig before and it worked great to heat my living room for very little in return. Reduce that significantly and I can see the effort not being worth it long run.

How often is malware identified and shut down? I think it's an effort statement of creating the malware and deploying it fast enough to make any money before it's caught by current detection methods.
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Right I understand that. I just wasn't sure what they were referring to by loss. If it's in terms of it being discovered then it makes sense.
 
I typed it out to make sure I understood it ;) and thanks for confirming my understanding to be acceptable :thumbup

but that's how I see it from a loss standpoint
 
also, there is something about how the wallets are generated/deployed and every machine has to have it's own.

So you would have to manage that part as well.
 
Ugh, one of my employees has been going on and on about some scheme wherein they buy a membership from someone, who then allows them to purchase some kind of "Stock" in Bitcoins. After a week of buying into this membership, she then invests $5,000 and within 1 month gets $1,039,000 return. The number was very specific, I don't remember it exactly.

I kept telling her to run away from whoever is selling this scheme.

It boggles my mind how a couple with Masters degrees and a fairly high income can fall prey to something as stupid as this.
 
Meter Man said:
Ugh, one of my employees has been going on and on about some scheme wherein they buy a membership from someone, who then allows them to purchase some kind of "Stock" in Bitcoins. After a week of buying into this membership, she then invests $5,000 and within 1 month gets $1,039,000 return. The number was very specific, I don't remember it exactly.

I kept telling her to run away from whoever is selling this scheme.

It boggles my mind how a couple with Masters degrees and a fairly high income can fall prey to something as stupid as this.
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:wtf
 
Lunch Box said:
I don't know squat about bitcoin and I likely fall into the "too old to trust it" bracket. :laughing It kind of reminds me of my grandmother who insisted on writing checks or paying cash for everything. A debit card seemed, to her, like a massive and unnecessary risk.
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The broader scope of your grandmother's wisdom needs to be embraced today more than ever.

Proponents say that crypto-currency will liberate us from the oppressive system. I think Bitcoin is controlled opposition and a pilot test for a global digital reserve currency (SDR, coming soon) that will end up stripping us of what little economic sovereignty we have left in this world. Blockchain could be used for the greater good of common people, but - like so many other technologies - it won't. A technocracy does not exist to empower people, it exists to empower itself while oppressing everyone else. When I hear the word "blockchain", I picture this

Defender.jpg


shackled to my leg, preventing my own individual pursuit of financial freedom.
 
Meter Man said:
Ugh, one of my employees has been going on and on about some scheme wherein they buy a membership from someone, who then allows them to purchase some kind of "Stock" in Bitcoins. After a week of buying into this membership, she then invests $5,000 and within 1 month gets $1,039,000 return. The number was very specific, I don't remember it exactly.

I kept telling her to run away from whoever is selling this scheme.

It boggles my mind how a couple with Masters degrees and a fairly high income can fall prey to something as stupid as this.
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Reminds me of those radio ads saying you can achieve 15-25% return with no risk, investing in tax liens.

If there really was no risk, everyone and their mother would be doing it, and returns would collapse to 1-2%.

Plus, anytime someone is advertising a get-rich scheme, it's because the scheme wasn't successful enough for them to become rich on their own. Thus they decide to advertise to bring in fresh blood, build a pyramid scheme, and/or sell books.
 
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Reli said:
Reminds me of those radio ads saying you can achieve 15-25% return with no risk, investing in tax liens.

If there really was no risk, everyone and their mother would be doing it, and returns would collapse to 1-2%.

Plus, anytime someone is advertising a get-rich scheme, it's because the scheme wasn't successful enough for them to become rich on their own. Thus they decide to advertise to bring in fresh blood, build a pyramid scheme, and/or sell books.
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I've heard those ads.

But properly tax liens are a "normal" investment vehicle. They are very state specific. The return is defined by law in many states and buyers can pay more initially - making the actual return lower.

Risk exists, but it isn't a scam. To me it is a much more complicated investment like currency or options trading.

The biggest risks are valueless property, other liens that supersede yours and localized rules regarding redemption periods. I know two people who do alright with this type of investment. One had to stop because they used privileged information (he is an attorney) to create some kind of complex scheme to buy a property at below market rate and bought the tax lien for another property because he knew neither party had money to pay the tax or live without selling. The BAR punished him and he is back to practicing law. : |
 
bojangle said:
JP Morgan Chase calls bitcoin a fraud.

https://www.cnbc.com/2017/09/12/jpm...es-20-percent-fall-for-the-third-quarter.html
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Sounds like a guy that doesn't want investors going outside of the "banking" system. I wonder if someone at JP Morgan might have a vested interest in your investments outside of the bank or lack there of.

Bitcoins do not perish, are easily transportable, are easy to divide, and are not controlled by one entity. Tulips have none of these traits. There are only 21 million bitcoins ever to be produced, many have already been lost. The value should rise with scarcity.
 
jiffy said:
Sounds like a guy that doesn't want investors going outside of the "banking" system. I wonder if someone at JP Morgan might have a vested interest in your investments outside of the bank or lack there of.

Bitcoins do not perish, are easily transportable, are easy to divide, and are not controlled by one entity. Tulips have none of these traits. There are only 21 million bitcoins ever to be produced, many have already been lost. The value should rise with scarcity.
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If they dont perish how can some be lost?
 
If you lose the wallet they are in and don't have a recovery seed then its the same as if you dropped your wallet with a bunch of cash in it. Its gone. Those coins will never make it back to the bitcoin system. Yes they are technically still there but no one can access them without the seed.
 
Tulips and Bitcoins are alike in that both require an energy source to exist and afford their owners with value. Cut off their respective energy source (sunlight/water : electricity/internet connection) and both die.

Apparently, they both have seeds in common as well.
 
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