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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 277

post #2761 of 22873
Quote:
Originally Posted by Kip69 View Post

Wow, what a hard question. The short answer is "who knows" if you do, you would be rich not a geek on a computer forum.

Are you asking if it will go up steadily over a year on average? Impossible to tell. Sure, investment bloggers will sell you the answer, but that is the fun of stocks, no one knows. Remember, only invest monies you can afford to loose. You will loos money some times. But, if you had asked that question years ago, everyone would have said no. And look what $27 worth of bit coins made that lucky fella! That would have been a nice present.

http://mashable.com/2013/10/30/bitcoin-investment-blows-up/
I just thought maybe instead of using bitcoins that i gained by mining, maybe i can just save up. But i guess Bitcoin being 204 USD it doesnts ound like a good investment tongue.gif And that article was what influenced my thought on possibly investing.
post #2762 of 22873
Quote:
Originally Posted by Rar4f View Post

I just thought maybe instead of using bitcoins that i gained by mining, maybe i can just save up. But i guess Bitcoin being 204 USD it doesnts ound like a good investment tongue.gif And that article was what influenced my thought on possibly investing.

If by that you mean that you've already mined a number of coins... then save them until you need them (I've got a nice little stash from when I mined a couple years ago). On the other hand if you're talking about now... and you're considering starting mining today... then don't bother. On the other hand - just because it's $204/BTC right now - doesn't mean anything at all. Remember that Microsoft was giving away their 'worthless' stock their first year as Christmas bonuses... which at the time was a really crappy bonus (like $100 worth crappy). The employees that held theirs are millionaires today.

If nothing happens to destroy the BTC market, or crypto-currencies as a whole (which is unlikely, but possible) then it's entirely conceivable that there could be a day where it's more like $2K/BTC! Like everything, and especially currency speculation, there is a large amount of risk involved... so don't put your whole nest egg in it.

In interest of full disclosure, I'm continuing to acquire coins on a cost-averaged basis (1BTC per week) and will probably continue to do so until it's at least up to $500/BTC. At the present time there are probably somewhere in the area of 8-10M people holding at least some BTC (but if that's the case... most of them hold less than 1BTC). Bitcoin is a largely deflationary currency... i.e. there is a fixed number of coins that can ever be mined... and as wallets are lost, so then are the coins - permanently. This means that unless the demand suddenly drops off (legal reasons, hacks/abuse, competition that has more widespread acceptance, etc..) the value should always increase - at least around a trendline... there will always be times where it drops dramatically (silk road announcement) or where it starts soaring (Cyprus banking crisis)... but overall it should move steadily upward.

There's lots of analysis of the opportunities, risks, overall economy, etc... all over the place. Do your due diligence and make your decision based on what you find - not the ramblings of some people on a forum (certainly not me of all people). biggrin.gif
post #2763 of 22873
Quote:
Originally Posted by Rar4f View Post

I just thought maybe instead of using bitcoins that i gained by mining, maybe i can just save up. But i guess Bitcoin being 204 USD it doesnts ound like a good investment tongue.gif And that article was what influenced my thought on possibly investing.

Investments are investments. There is an inherent risk with an investment, even real estate. London could get severely flooded, or San Francisco might get hit by another Loma Prieta.

You could do what Digicidal said about getting a BTC (depending on your budget) and playing it like a long term investment plan. Keep a certain amount of BTC in your wallet, and use a small amount to play the alt-coin market. It's very volatile there, but there's the possibility of gaining some BTC if you do your research and can anticipate the market.
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post #2764 of 22873
How can I setup primecoin mining for beeer.org in Ubuntu 13.04?
Edited by ABD EL HAMEED - 11/4/13 at 5:32am
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post #2765 of 22873
Thread Starter 
Quote:
Originally Posted by ABD EL HAMEED View Post

How can I setup primecoin mining for beeer.org in Ubuntu 13.04?

That's a question better suited for the ppcointalk beeeeer support thread...

You have to compile the miner, clone it from github or bitbucket and run it. Better search for some compiling guides at bitcointalk, like this one:
https://bitcointalk.org/index.php?topic=259022.0;topicseen
(keep in mind that's for the solo mining wallet, not the primeminer for beeeeer, so you have to replace some stuff with primeminer, or just do the basic compile that's in the ppcointalk thread)

EDIT: here's a proper guide: http://www.peercointalk.org/index.php?topic=798.0
Edited by ivanlabrie - 11/4/13 at 10:36am
post #2766 of 22873
Hey guys just wanted to get your thoughts,

I read that article within news section and thought i'd check out this thread.

From what I understand, it's nowadays implausible to mine Bitcoins for profit but what about mining altcoins? is there a reasonable chance for net gain in doing so? and what currency would you reccomend?

I'm not planning any sort of mining rig or set-up to run 24/7, i'm just looking for something else to muck around with when i'm not gaming or whatever else, and thought this could be a bit of fun.

Cheers.
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post #2767 of 22873
That is much what I do, mostly with Ivan help. And I repay him by trying to spell his name correctly. That v is sneaky. smile.gif

The suggest Prime and light coins, mostly, for steady mining. If you have time and thoughts you can make more picknig better ones each hr, but those are good. I made more than 1 bit-coin following him.
 
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post #2768 of 22873
IVan is the savior. In time this humble peasent will join his party. thumb.gif
post #2769 of 22873
Quote:
Originally Posted by Rar4f View Post

IVan is the savior. In time this humble peasent will join his party. thumb.gif

thumb.gif

IVan?
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post #2770 of 22873
Quote:
Originally Posted by Im Batman View Post

thumb.gif

IVan?
Typo lol biggrin.gif
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