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Sep 16 2014 10:31am
Quote (Ididitfortehlulz @ Sep 16 2014 09:29am)
Well he had some change left over still and ended up selling his rigs.
He has a job now and shit but I think he learned :P



I was thinking about it and when it got to serious thinking the market crashed.

This will put me off of anything like the sort from now on though.


Should jump on doge coins imo.

Quote (Mitchellway @ Sep 16 2014 09:30am)
Basically you can build or buy pc's specifically designed to mine for bitcoins.

That's where they all come from. Then people buy and sell them.


Mine them how?
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Sep 16 2014 10:32am
Quote (Raze @ 17 Sep 2014 02:31)
Should jump on doge coins imo.



Mine them how?


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Sep 16 2014 10:34am
Quote (Raze @ Sep 16 2014 04:31pm)
Should jump on doge coins imo.



Mine them how?


Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain ofblocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain aproof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.

Copy pasta'd from bitxoin wiki.

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Sep 16 2014 10:35am
Have fun with that 8% which will get eroded by hyperinflation in the next few years
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Sep 16 2014 10:36am
Quote (RavEyes @ Sep 16 2014 09:07am)
That you all flamed me about?

No big deal it's only up 8% today. I'm not a genius or anything.

Oh wait, I am.


PBR


The reason people flamed you? Because you came in here acting like an expert.

You're not an expert, and from what I can tell, most of this is luck. You haven't made a single statement about analyzing a chart by using a metric such as StochRSI, which means you have the same access to information as everyone else on the planet. You're not thinking about how other traders are going to trade, and therefore I have no interest in what you're trying to push.

But what do I know, I'm only friends with a BlackRock advisor. :rolleyes:
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Sep 16 2014 10:36am
Quote (dro94 @ 17 Sep 2014 02:35)
Have fun with that 8% which will get eroded by hyperinflation in the next few years


Investments are one of the better ways to avoid having your wealth lost through inflation.
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Sep 16 2014 10:38am
Quote (Gannon @ Sep 16 2014 09:36am)
Investments are one of the better ways to avoid having your wealth lost through inflation.


One of...? Investments are the ONLY way to combat inflation. If money isn't invested, it isn't growing.
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Sep 16 2014 10:38am
Quote (Mitchellway @ Sep 16 2014 09:34am)
Mining is the process of adding transaction records to Bitcoin's public ledger of past transactions. This ledger of past transactions is called the block chain as it is a chain ofblocks. The block chain serves to confirm transactions to the rest of the network as having taken place. Bitcoin nodes use the block chain to distinguish legitimate Bitcoin transactions from attempts to re-spend coins that have already been spent elsewhere.Mining is intentionally designed to be resource-intensive and difficult so that the number of blocks found each day by miners remains steady. Individual blocks must contain aproof of work to be considered valid. This proof of work is verified by other Bitcoin nodes each time they receive a block. Bitcoin uses the hashcash proof-of-work function.The primary purpose of mining is to allow Bitcoin nodes to reach a secure, tamper-resistant consensus. Mining is also the mechanism used to introduce Bitcoins into the system: Miners are paid any transaction fees as well as a "subsidy" of newly created coins. This both serves the purpose of disseminating new coins in a decentralized manner as well as motivating people to provide security for the system.Bitcoin mining is so called because it resembles the mining of other commodities: it requires exertion and it slowly makes new currency available at a rate that resembles the rate at which commodities like gold are mined from the ground.

Copy pasta'd from bitxoin wiki.


So bitcoin mining=/=price of electricity
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Sep 16 2014 10:39am
Quote (AnimeFTW @ 17 Sep 2014 02:38)
One of...? Investments are the ONLY way to combat inflation. If money isn't invested, it isn't growing.


Buying assets, is another. I suppose they can be seen as investments too, even if that's not their purpose.
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Sep 16 2014 10:39am
Quote (AnimeFTW @ Sep 16 2014 09:38am)
One of...? Investments are the ONLY way to combat inflation. If money isn't invested, it isn't growing.


Invest in cocaine
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