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  • Dec 16th, 2017 9:56 pm
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Deal Addict
Sep 13, 2016
1076 posts
453 upvotes
XtremeModder wrote:
Dec 4th, 2017 11:48 am
I could be wrong, completely wrong. But my father invests some money into Aurora Cannabis, which apparently is backed with millions of dollars and an in-construction warehouse whereas bitcoin, etc aren't really backed by anything other than speculation. Had I have listened to my dad about buying into aurora @ $4/share my money would have been doubled already. Funny that you say that because I buy crypto he buys weed stocks. He doesn't smoke that much weed though.
I think among all Crypto currencies, Bitcoin is and remains the original idea. If any currency has something to offer apart from speculation, it is Bitcoin. With increasing adoption, it truly has a potential to become a feasible payment mechanism. However, it still has to mature a lot before that happens. The kind of volatility that we currently see is not going to help.
Deal Fanatic
Aug 14, 2007
8347 posts
646 upvotes
Toronto
IndyBeak wrote:
Dec 4th, 2017 12:10 pm
I think among all Crypto currencies, Bitcoin is and remains the original idea. If any currency has something to offer apart from speculation, it is Bitcoin. With increasing adoption, it truly has a potential to become a feasible payment mechanism. However, it still has to mature a lot before that happens. The kind of volatility that we currently see is not going to help.
Doesn't the volatility help in some way? As when people see the price drop significantly they start buying in and the value starts to go back up...
Deal Addict
Sep 13, 2016
1076 posts
453 upvotes
XtremeModder wrote:
Dec 4th, 2017 12:52 pm
Doesn't the volatility help in some way? As when people see the price drop significantly they start buying in and the value starts to go back up...
There are 2 sides to it. If you ask me, I would love BTC to reach 100K within next 6 months. But that is my greed, which all speculators have as well. But if this type of volatility continues, Bitcoin will only remain an instrument of speculation, it will never become a tangible product useful in daily life. How do you expect a grocery store to accept bitcoin payments when there is a possibility that all the coins they collected as payments throughout the day now values 30% less at 10PM.. This kind of risk is simply unacceptable for a technology which aspires to become a viable decentralized payment system.
Bitcoin is getting a lot of media attention for last few weeks, there are articles being written in major financial papers everyday. The Big Bang Theory has an episode on it in the current season. Institutional investors are more and more interested in joining the bandwagon. All this makes me feel that a 100K BTC by 2020 is not a pipe dream. It could be a reality. But if Bitcoin has to have a future and compete with systems like Swift, Visa, or Mastercard, the volatility has to go, otherwise the bubble will pop, and it will pop real hard.
Deal Expert
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Oct 26, 2003
27360 posts
1790 upvotes
Winnipeg
IndyBeak wrote:
Dec 4th, 2017 1:31 pm
There are 2 sides to it. If you ask me, I would love BTC to reach 100K within next 6 months. But that is my greed, which all speculators have as well. But if this type of volatility continues, Bitcoin will only remain an instrument of speculation, it will never become a tangible product useful in daily life. How do you expect a grocery store to accept bitcoin payments when there is a possibility that all the coins they collected as payments throughout the day now values 30% less at 10PM.. This kind of risk is simply unacceptable for a technology which aspires to become a viable decentralized payment system.
Bitcoin is getting a lot of media attention for last few weeks, there are articles being written in major financial papers everyday. The Big Bang Theory has an episode on it in the current season. Institutional investors are more and more interested in joining the bandwagon. All this makes me feel that a 100K BTC by 2020 is not a pipe dream. It could be a reality. But if Bitcoin has to have a future and compete with systems like Swift, Visa, or Mastercard, the volatility has to go, otherwise the bubble will pop, and it will pop real hard.
the future doesn't need to depend on btc, the coin can go but blockchain will remain, this technology is sound and there will be coins in the future that is better than btc in every way. btw mining difficulty is so high now it is very hard to mine without industrial hardware setup.
Deal Addict
Sep 13, 2016
1076 posts
453 upvotes
divx wrote:
Dec 4th, 2017 1:48 pm
the future doesn't need to depend on btc, the coin can go but blockchain will remain, this technology is sound and there will be coins in the future that is better than btc in every way. btw mining difficulty is so high now it is very hard to mine without industrial hardware setup.
True. But I was not commenting on the future of Blockchain as technology. I was commenting on the future of Bitcoin itself. A volatile environment is not going to help.
Deal Expert
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Oct 26, 2003
27360 posts
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Winnipeg
IndyBeak wrote:
Dec 4th, 2017 1:50 pm
True. But I was not commenting on the future of Blockchain as technology. I was commenting on the future of Bitcoin itself. A volatile environment is not going to help.
that's one of the flaws of btc, not inherent to blockchain, therefore it can be fixed with a new coin based off the blockchain, ether is moving to the right direction.
Newbie
Dec 31, 2016
32 posts
4 upvotes
Mississauga, ON, CA
divx wrote:
Dec 4th, 2017 1:52 pm
that's one of the flaws of btc, not inherent to blockchain, therefore it can be fixed with a new coin based off the blockchain, ether is moving to the right direction.
Any views about Litecoin?
Penalty Box
Apr 8, 2013
7341 posts
244 upvotes
IndyBeak wrote:
Dec 4th, 2017 1:50 pm
True. But I was not commenting on the future of Blockchain as technology. I was commenting on the future of Bitcoin itself. A volatile environment is not going to help.
You still have to be aware of the future of Blockchain technology if you want to know the future of Bitcoin. ICO's are popping up everyday trying to figure out how to take a chunk of BTC or even replace it. Alot of it are simply ideas.

This environment will be volatile for the next few years. Its new technology and it will interrupt industries, currencies and lifestyle worldwide.

IMHO. ETH is way more prepared for the future but to "beat" BTC as far as its function goes another coin has to surpass the amount of transaction it has already made.

Its one thing for a coin to have 100 different theories on how it can be used but its another to actually put it in practice. BTC is leading the "practice". Its very stressed and its still in one piece.

People will have different needs so different altcoins will be used. BTC wont be able to cater to that but what it can do is lead the way.
Diversity Is Our Strength 😎
Member
Nov 13, 2011
445 posts
133 upvotes
Vancouver, BC
How are you guys filing taxes for your mining profits? Do you need to set up a business to deduct hardware/electricity costs?
Deal Expert
User avatar
Oct 26, 2003
27360 posts
1790 upvotes
Winnipeg
accessarpit wrote:
Dec 4th, 2017 2:12 pm
Any views about Litecoin?
failed attempt at making asic resistant, this applies to all the coins based on scrypt algorithm, ether is the true new replacement for coins for the masses.
Member
Mar 8, 2012
337 posts
41 upvotes
Montreal
How many GPU on stock can these PSU handle?

Considering I would be using risers


1000W GOLD
750W GOLD
Deal Expert
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May 22, 2005
18609 posts
3709 upvotes
Thornhill
darkcloud8282 wrote:
Dec 6th, 2017 10:49 am
People suspect nice hash got hacked

https://reddit.com/r/NiceHash/comments/ ... sh_hacked/
Yah, thats pretty serious stuff. Tons of speculation considering it went down around this morning and has been down since. There hasn't been any communication and people are panicking haha. Makes sense, theres a lot of confusion and even more trolling. There's a lot of info, though who knows whats made up and whats not. The whole cryptocurrency market has a ton of strings being pulled all the time.

I got paid out last Friday to my external wallet so I only had like 0.0003 in the balance but I'd imagine some people mine to the internal NH wallet to save on fees (2%?). Ouch.
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Oct 26, 2003
27360 posts
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Winnipeg
akinos1 wrote:
Dec 5th, 2017 5:48 pm
How many GPU on stock can these PSU handle?

Considering I would be using risers


1000W GOLD
750W GOLD
for your 570, you can do x6 undervolt of course
i see you are using risers, so how do you get them mounted? with custom aluminium hss channel?
without riser you can only fit 3 cards even though a standard atx board can have 6 pcie slots. i would prefer using 3x vega56 without risers but i can't get my hands on them hahaha.

also, do not hold coins in the same place as you mine.
Deal Addict
Sep 13, 2016
1076 posts
453 upvotes
So with Nicehash gone, may be forever, what are people switching to? What are the alternatives? And how much you lost with NiceHash?

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