Antonio 116 Share Posted January 11, 2015 Hahaha when I was using BTC, there were less than a $1 a coin. It was amazing, earlier last year I checked a old wallet, and found I still had .1 BTC in my account, looked at the price, and ended up making close to $80 after everything finalized. The best part, I paid maybe a dollar for the entire BTC when I originally bought them! multiplied your money by 80 in a matter of months.. Why didn't we all invest our bank accounts into this?? haha Link to comment Share on other sites More sharing options...
Explicit 213 Share Posted January 11, 2015 Very informative post. I regret not investing in them a few months back, imagine the profits that could have been made You gotta go back longer than a few months bud I remember when I used to trade these back and forth with people on Sythe for membership pins. You could sell one 30 day pin for one coin. Why didn't we all invest our bank accounts into this?? haha Because there's thousands of cryptocurrencies, the fact that BitCoin got big was just pure luck (as far as I'm aware). It's also unregulated, which makes it extremely risky. A BitCoin exchange was hacked a little bit ago and everyone who had their coins stolen are now shit out of luck with no chance of getting any sort of compensation. Link to comment Share on other sites More sharing options...
Ericthecmh 184 Share Posted January 11, 2015 You gotta go back longer than a few months bud I remember when I used to trade these back and forth with people on Sythe for membership pins. You could sell one 30 day pin for one coin. Because there's thousands of cryptocurrencies, the fact that BitCoin got big was just pure luck (as far as I'm aware). It's also unregulated, which makes it extremely risky. A BitCoin exchange was hacked a little bit ago and everyone who had their coins stolen are now shit out of luck with no chance of getting any sort of compensation. Yeah pretty much. Bitcoin is a good way to transfer money quickly, but I wouldn't trust much money into it. The hack, for anyone who cares to know, was a result of someone broadcasting that their link (on the internet) had an extremely low cost, causing traffic to run through the hacker's node, thereby allowing him to modify the data. BitCoin performs transactions and verifies by having a bunch of other bitcoin users verify. Therefore, if you can compromise a large portion of the space, you can verify or create transactions that aren't legitimate, which is what the hacker did. Link to comment Share on other sites More sharing options...
Chris 154 Share Posted January 11, 2015 I've personally made >$10k in the bitcoin industry. All of it was legal. They're not only used to buy drugs. https://blockchain.info/address/1CmguJhwW4sbtSMFsyaafikJ8jhYS61quz You gotta go back longer than a few months bud I remember when I used to trade these back and forth with people on Sythe for membership pins. You could sell one 30 day pin for one coin. Because there's thousands of cryptocurrencies, the fact that BitCoin got big was just pure luck (as far as I'm aware). It's also unregulated, which makes it extremely risky. A BitCoin exchange was hacked a little bit ago and everyone who had their coins stolen are now shit out of luck with no chance of getting any sort of compensation. Bitcoin was one of the first of its kind. There are many knock off coins which also use SHA256 encryption which won't get big because they're knockoffs. Other coins like litecoin, etc use scrypt processing which utilize x86 instructions. Research costs to make ASICS for this process is too much for too little return Link to comment Share on other sites More sharing options...
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