Anyone got any bitcoins?

[JJonas]

Bitcoin Turmoil After Mt Gox Exchange 'Theft'

[CHR1S]

My 300 euro loss seems much easier to swallow today, looks like I took the right decision at the right time.

[rickjames]

Bitcoin Fighting Championship

 

LOL

[Arthur]

And another one...

 

After $620,000 theft, another Bitcoin service shuts down « The Verge

 

In the wake of Mt. Gox, a six-figure bitcoin heist has resulted in another shuttered service. This time, the service is Flexcoin, a wallet and banking service that lost 896 bitcoins to attackers, and has announced it will be unable to continue functioning after the loss. The attack emptied the service's hot wallet, where funds were kept for easy access, but the attack did not reach into the offline storage, and Flexcoin has promised to return those funds to customers as soon as possible.

 

While not as central to the Bitcoin economy as Mt. Gox, the Flexcoin shutdown is another blow to an ecosystem that's facing growing doubts from would-be regulators in government. According to a Flexcoin statement, the company "will attempt to work with law enforcement to trace the source of the hack," but judging by the preemptive shutdown, they do not seem optimistic about recovering the funds. Already, the news has attracted Bitcoin skeptics; as one security researcher put it, "BTC is just too easy to steal to be usable."

[flyinghaggis]

Bitcoin Soars to Record as Buyers Look Beyond Miners' Split

 

Looks like bitcoin is back in the news and trading on record highs following the split the other week. I personally don't understand how it's managed to surge in value despite it recently being forked into two separate currencies? I'd have thought a split would drive it's value down?

 

I'll confess to not really understanding the workings of bitcoin and being pretty sceptical of its future as a currency. As far as I can see it's a virtual commodity (backed by nothing) primarily used to buy goods anonymously and currently being pumped up in value by speculators hoping to make a quick buck from it. It's 'mined' into existence by an algorithm (which made it easier at the beginning for the early adopters) yet isn't backed by anything tangible or otherwise (governments/physical assets/etc) . Everything I've read about it makes it sound like a pyramid scheme to me!

 

I don't get it......

Edited August 9, 2017 by flyinghaggis

[markwilfan]

I've still got 9. Bought 60 for £300 back when they were a fiver each. Kicking myself for selling them now but got our initial stake back plus a nice firepit table and money towards our wedding.

[snagrat]

I've still got 9. Bought 60 for £300 back when they were a fiver each. Kicking myself for selling them now but got our initial stake back plus a nice firepit table and money towards our wedding.

 

60 would be about £150k now!!!

 

#JustToRubItIn

[markwilfan]

60 would be about £150k now!!!

 

#JustToRubItIn

 

yeh thanks for that. Could have wiped out my mortgage and had 50k spare to do other things with, but hey ho! I don't think anybody could have predicted this. I have a friend who is quite senior in a european bank and he laughed at me when I put £300 in. I'm gonna sit on them until they are worth $1 million each. https://www.cryptocoinsnews.com/bitcoin-will-hit-1-million-5-10-years-says-paypal-director/

[cpjitservices]

is the bitcoin business a load of old hat now and not worth anything ?

[JATSO]

You have to be in it to win it and also be prepared to lose it.

[cpjitservices]

yeah there where stories of people having there account hacked and the bitcoins gone. was a while ago like but still.

[andydis]

yeah there where stories of people having there account hacked and the bitcoins gone. was a while ago like but still.

 

rule number 1 , Always store your coins in a OFFLINE PAPER WALLET, no exceptions.

[cpjitservices]

Ill be the first to say I know nothing at all about bitcoins or how much they are worth, but we have struggled to get graphics cards lately for gaming builds apparently due to high demand by bit miners for graphics cards

[andydis]

I have to say I'm an accidental "miner" , not just bitcoins but for altcoins,

I had a project running just before the graphics cards rush by miners that needed GPU's for recobering passwwords ( HashCat Online | Online password Cracker )

but I found while the Rigs are IDLE i can actually mine zcash and other altcoins, The only reason I need bitcoin is to convert altcoins into bitcoin to cash out .

[ICTDirect_Dave]

Ill be the first to say I know nothing at all about bitcoins or how much they are worth, but we have struggled to get graphics cards lately for gaming builds apparently due to high demand by bit miners for graphics cards

 

The demand is huge at the moment. Mostly for Etherum which has seen some pretty huge price fluctuations recently.

 

https://www.worldcoinindex.com/coin/ethereum

 

It was the hot topic at this years Edit conference as @Dos_Box and @ZeroHour were bragging about their stock

 

The owner of the company who looks after our phone system has a basement mining operation in his house.

 

Currently 10 x Dell workstations with 3 x GTX 1070 in each, all running 24/7.

 

His house is entirely solar powered thanks to a roof and garden array and his running costs are zero. Currently he's producing 5ish Etherum each week.

 

I'm jealous! as I have neither the startup capital or the space to run anything like it.

[Bompalompalomp]

Still kicking myself for not buying when they were £5... And then kicking myself again when they were even £100....

 

I bought a year of a VPN with bitcoins in December, and decided to leave some extra in the wallet just to sit there. It's gone from £20 to £150, which I guess is nice. Too paranoid to actually withdraw it yet though...

[siuko]

Currently mining Ethereum Classic (ETC) on my 2 x GTX 1060 6Gb, 1 x GTX 970 4Gb rig - makes about £3 a day! lol

[andydis]

Currently mining Ethereum Classic (ETC) on my 2 x GTX 1060 6Gb

 

Another fellow miner , what pool and miner are you using?

[siuko]

Using nanopool and Claymore Dual Miner (EthDcrMiner64.exe)

 

Nanopool takes 1% fee and Claymore Miner takes 1% fee (2% if you dual mine)

 

What are you using?

[andydis]

Claymore and flypool, currently mining Zcash with a average hashrate of 3.2KH/s , i'm just trying to build up a few different coins as an investment for a few years,

So far i've got some hushcoin , eth, zcash, NEO and 0.07 bitcoin :-)

[jaminben]

To be honest your probably better off just buying coins than mining... it's far easier:- no initial outlay and you don't have to maintain your rigs.

 

Congrats on the Neo... it's certainly taken off recently.

[LosOjos]

Currently mining Ethereum Classic (ETC) on my 2 x GTX 1060 6Gb, 1 x GTX 970 4Gb rig - makes about £3 a day! lol

 

Is that £3 a day after running costs?

[matt40k]

Is that £3 a day after running costs?

GPUs alone would cost you £36.75 per month just in terms of electricity. If its before, you MIGHT just break even. Still that's pretty good for IT equipment. Not exactly a good investment idea. Just a way to poss fund your next gaming machine upgrade

Edited August 16, 2017 by matt40k

[siuko]

Is that £3 a day after running costs?

 

Sadly no it isn't

 

I think I'm paying about £1 or so a day in electricity

 

So there isn't a great margin for profit... depending on how well the coins do (and etc doesn't seem to fluctuate much unlike the bigger coins - BTC, ETH)

 

- - - Updated - - -

 

GPUs alone would cost you £36.75 per month just in terms of electricity.

 

The electricity cost is a little lower as I have them at 65% power limit (doesn't seem to affect hashing rate too much)

 

2 x GTX 1060 + 1 x GTX 970 is running at 350w (using a power draw meter thing I have plugged in)

Edited August 16, 2017 by siuko

[Garacesh]

Predictions by people in the know are that after Etherium starts to get floppy in another few months, ZCash will be the next 'big one'.