Overclock.net › Forums › Industry News › Software News › [DailyMail] Bitcoin in freefall: Value of virtual currency dropping after China questions its legal status.
New Posts  All Forums:Forum Nav:

[DailyMail] Bitcoin in freefall: Value of virtual currency dropping after China questions its legal status. - Page 12

post #111 of 120
Not intended to be pretentious; I'm an AMD guy myself all the way, couldn't be happier with their resurgence. I simply took exception to the "good fortune" comment. Fortune has little to none to do with it. AMD makes a superior product in the GPU arena, especially where raw compute power is concerned. Nvidia has several fine cards themselves, but they misfired badly with OpenCL, and it is now glaringly apparent.
Up in the Air
(14 items)
 
  
CPUMotherboardGraphicsRAM
FX-8350 Asus M5a99fx Pro r2.0 PowerColor 7850 2GBD5-2DHE/OC + Arctic Accelero S1 Kingston HyperX 8GB 1866MHz 
Hard DriveHard DriveOptical DriveCooling
WD Blue 1 TB 7200 RPM WD Blue 1 TB 7200 RPM Asus 24x DVD-RW Zalman CNPS14X 
OSOSMonitorPower
Ubuntu 14.04 x64 Windows 8.1 x64 HP w2207 Seasonic SS-660XP2 ATX 
CaseOther
Corsair 540 Air Crucial MX100 256GB 
  hide details  
Reply
Up in the Air
(14 items)
 
  
CPUMotherboardGraphicsRAM
FX-8350 Asus M5a99fx Pro r2.0 PowerColor 7850 2GBD5-2DHE/OC + Arctic Accelero S1 Kingston HyperX 8GB 1866MHz 
Hard DriveHard DriveOptical DriveCooling
WD Blue 1 TB 7200 RPM WD Blue 1 TB 7200 RPM Asus 24x DVD-RW Zalman CNPS14X 
OSOSMonitorPower
Ubuntu 14.04 x64 Windows 8.1 x64 HP w2207 Seasonic SS-660XP2 ATX 
CaseOther
Corsair 540 Air Crucial MX100 256GB 
  hide details  
Reply
post #112 of 120
Quote:
Originally Posted by SCollins View Post

Imagine what would happen if we stopped adding money to the economy

much of the super ultra rich, who would see their portfolios explode in value, while everyone else was beggared drool at the thought. It's one reason you see the gold standard pushed so hard by them.

Also one of the reasons the folks who control the coin systems don't like to increase the amount of coins released. They make their money by mining a ton of coins before anyone else has a chance to. They make their money on deflation. They have little interest in making coins more available unless it affects whether the coin system is destroyed. Remember something like 40 people control a third of all coins.

Tight money is awesome for the people who already have the money. It's just miserable for everyone else.
New gaming rig
(15 items)
 
  
CPUMotherboardGraphicsRAM
4770k some mid range asrock. extreme 4 maybe? 2x gigabyte windforce 7950 2 x 8 corsair balistix sport 
Hard DriveOptical DriveCoolingOS
crucial ct960 LG blu-ray used venamous x win 8.1 pro 
MonitorKeyboardPowerCase
Crossover 30Q5 PRO 30" 2560X1600  cheapest piece of crud I could find antec HCG 750 some thermaltake microcenter blue-light-special... 
MouseMouse PadAudio
came with the cheapass keyboard who cares? some $30 no name 2+sub speakers I bought at mic... 
  hide details  
Reply
New gaming rig
(15 items)
 
  
CPUMotherboardGraphicsRAM
4770k some mid range asrock. extreme 4 maybe? 2x gigabyte windforce 7950 2 x 8 corsair balistix sport 
Hard DriveOptical DriveCoolingOS
crucial ct960 LG blu-ray used venamous x win 8.1 pro 
MonitorKeyboardPowerCase
Crossover 30Q5 PRO 30" 2560X1600  cheapest piece of crud I could find antec HCG 750 some thermaltake microcenter blue-light-special... 
MouseMouse PadAudio
came with the cheapass keyboard who cares? some $30 no name 2+sub speakers I bought at mic... 
  hide details  
Reply
post #113 of 120
Quote:
Originally Posted by galaxyy View Post

Dogecoins are up 300% in the past 48 hours. I have over a million already and making some sweet sweet cash!

Are any of these alternative coins even convertible? Bitcoin and Litecoin are speculative enough, but now anyone with a crypto background can create/inflate their own crypto-currency bubble?
post #114 of 120
Quote:
Originally Posted by Forceman View Post

Are any of these alternative coins even convertible? Bitcoin and Litecoin are speculative enough, but now anyone with a crypto background can create/inflate their own crypto-currency bubble?

First, doge coins are now up 600% in past 72 hours and at one point was 750%

You can trade doge for BTC at coinedup.com and they don't even take fees there! Cryptsy.com is a good exchange for most other altcoins.

And yes, anyone can create any coin they want, which is good both a good and bad thing.
post #115 of 120
Quote:
Originally Posted by Forceman View Post

Are any of these alternative coins even convertible? Bitcoin and Litecoin are speculative enough, but now anyone with a crypto background can create/inflate their own crypto-currency bubble?


Someone in class deserves an A+ . You may leave early from class today you now understand the problem with cryptocurrencies.


Kiddos.. Take note of your classmate. HE GETS THE PROBLEM.
 
4th time
(18 items)
 
3rd time
(11 items)
 
CPUMotherboardGraphicsRAM
5820k ASrock x99 Fatal1ty professional Gigabyte 1080 ti Corsair Vengeance DDR4 CAS 15 32GB 
Hard DriveCoolingOSMonitor
Samsung EVO 850 1TB SSD Corsair 110i GTX Microsoft Windows 10 Professional Acer 24 inch IPS 
MonitorMonitorMonitorKeyboard
Acer 24 inch IPS Acer 24 inch IPS Samsung 40 inch Corsair Strafe RGB MX cherry blue 
PowerCaseMouseMouse Pad
Corsair HX1000i Corsair Air 540 Corsair M65 RGB  Razer Manticor  
CPUMotherboardGraphicsRAM
i7 2600k ASROCK Fatal1ty p67 EVGA GTX 980 SC 16380 MBMBDDR3-SDRAM (Gskill) 1600mhz 
Hard DriveHard DriveCoolingOS
Samsung HD103SJ x 2 Samsung 850 EVO  Corsair H100i Windows 10 Professional 
MonitorMonitorMonitorMonitor
Samsung - LN40D550 - 40" LCD TV - 1080p ACER R240HY ACER R240HY ACER R240HY 
KeyboardPowerCaseMouse
razer black widow Corsair TX850 Coolermaster HAF 932 CM Storm Recon 
CPUMotherboardGraphicsRAM
955 MSI 870S-G54 2 x 6850 HIS IceQ-x 8 Gigabytes Gskill 1600 
Hard DriveCoolingOSMonitor
Samsung F3 1TB zalman 90mm Windows Ultimate x64 LG 47'  
MonitorPowerCase
Vizio 37' E370L  OCZ Modstream 700W Logisys CS888CL 
  hide details  
Reply
 
4th time
(18 items)
 
3rd time
(11 items)
 
CPUMotherboardGraphicsRAM
5820k ASrock x99 Fatal1ty professional Gigabyte 1080 ti Corsair Vengeance DDR4 CAS 15 32GB 
Hard DriveCoolingOSMonitor
Samsung EVO 850 1TB SSD Corsair 110i GTX Microsoft Windows 10 Professional Acer 24 inch IPS 
MonitorMonitorMonitorKeyboard
Acer 24 inch IPS Acer 24 inch IPS Samsung 40 inch Corsair Strafe RGB MX cherry blue 
PowerCaseMouseMouse Pad
Corsair HX1000i Corsair Air 540 Corsair M65 RGB  Razer Manticor  
CPUMotherboardGraphicsRAM
i7 2600k ASROCK Fatal1ty p67 EVGA GTX 980 SC 16380 MBMBDDR3-SDRAM (Gskill) 1600mhz 
Hard DriveHard DriveCoolingOS
Samsung HD103SJ x 2 Samsung 850 EVO  Corsair H100i Windows 10 Professional 
MonitorMonitorMonitorMonitor
Samsung - LN40D550 - 40" LCD TV - 1080p ACER R240HY ACER R240HY ACER R240HY 
KeyboardPowerCaseMouse
razer black widow Corsair TX850 Coolermaster HAF 932 CM Storm Recon 
CPUMotherboardGraphicsRAM
955 MSI 870S-G54 2 x 6850 HIS IceQ-x 8 Gigabytes Gskill 1600 
Hard DriveCoolingOSMonitor
Samsung F3 1TB zalman 90mm Windows Ultimate x64 LG 47'  
MonitorPowerCase
Vizio 37' E370L  OCZ Modstream 700W Logisys CS888CL 
  hide details  
Reply
post #116 of 120
Quote:
Originally Posted by Darkpriest667 View Post

Someone in class deserves an A+ . You may leave early from class today you now understand the problem with cryptocurrencies.


Kiddos.. Take note of your classmate. HE GETS THE PROBLEM.

Fiats don't suffer from the same problem and with considerably more catastrophic results when they inevitably go bust?

Cryptos may suffer from the same problems, but ultimately it is up to individuals as to whether or not they want to play the speculation game and assume the risk of a rapidly-oscillating value. I view this as considerably healthier than being forced to adopt a (rapidly-devaluing) national or global reserve currency at the point of a gun. We all talk about how much we all love competition. Currencies should be no different; these deserve their day in the sun.
Edited by PiOfPie - 12/14/13 at 7:58pm
Claire
(8 items)
 
Asus N56JR
(5 items)
 
Die "Neue" FXe
(11 items)
 
CPUMotherboardGraphicsRAM
AMD Ryzen 5 1600 ASRock X370 Taichi MSI Radeon R9 390 GAMING 8G G.Skill Flare X 3200 MHz CL14 
Hard DriveOSPowerCase
Samsung 960 EVO 500 GB Solus Seasonic SSR-550RM NZXT S340 Elite Matte White 
CPUGraphicsHard DriveOS
Intel Core i7-4700HQ GeForce GTX 760M Samsung 840 EVO 250 GB Microsoft Windows 10 Education 
Other
Intel Wireless-AC 7260 
CPUMotherboardGraphicsRAM
AMD FX-8120 Asus SABERTOOTH 990FX MSI Radeon R9 390 GAMING 8G G. Skill Ripjaws (DDR3-1600) 
Hard DriveOptical DriveCoolingOS
Samsung 840 EVO 250 Asus DRW-21B1ST Cooler Master Hyper 212 Evo Microsoft Windows 7 Home Premium 
PowerCaseAudio
Cooler Master RS-600-AMBA-D3 Cooler Master CM690 II Advanced Asus Xonar DG 
  hide details  
Reply
Claire
(8 items)
 
Asus N56JR
(5 items)
 
Die "Neue" FXe
(11 items)
 
CPUMotherboardGraphicsRAM
AMD Ryzen 5 1600 ASRock X370 Taichi MSI Radeon R9 390 GAMING 8G G.Skill Flare X 3200 MHz CL14 
Hard DriveOSPowerCase
Samsung 960 EVO 500 GB Solus Seasonic SSR-550RM NZXT S340 Elite Matte White 
CPUGraphicsHard DriveOS
Intel Core i7-4700HQ GeForce GTX 760M Samsung 840 EVO 250 GB Microsoft Windows 10 Education 
Other
Intel Wireless-AC 7260 
CPUMotherboardGraphicsRAM
AMD FX-8120 Asus SABERTOOTH 990FX MSI Radeon R9 390 GAMING 8G G. Skill Ripjaws (DDR3-1600) 
Hard DriveOptical DriveCoolingOS
Samsung 840 EVO 250 Asus DRW-21B1ST Cooler Master Hyper 212 Evo Microsoft Windows 7 Home Premium 
PowerCaseAudio
Cooler Master RS-600-AMBA-D3 Cooler Master CM690 II Advanced Asus Xonar DG 
  hide details  
Reply
post #117 of 120
Quote:
Originally Posted by bombastinator View Post

No, They're just the largest, most economically powerful country in the world. The Us is in debt to them something like a trillion dollars. Also it is the place buying the most bitcoins. The chinese have the most need for an untrackable currency, and the most citizens. Losing China wouldn't kill electronic coins but it would hurt them badly.

Guessing you are from China?

You know China is in Debt to the US as well right?

You also know it is not even close to the place buying the most bitcoins right?
Chatterwhite
(17 items)
 
  
CPUMotherboardGraphicsGraphics
Intel Core i5 4670k GRYPHON Z87 NVIDIA GeForce GTX 970 NVIDIA GeForce GTX 970 
GraphicsRAMHard DriveHard Drive
Intel(R) HD Graphics 4600 g.skill sniper 1866 8GB Mushkin Chronos 120GB Kingston SSD Now v300 256GB 
Hard DriveCoolingOSMonitor
2x WD Black in RAID 0 4TB Coolermaster Nepton 140XL Windows 10 Pro Yamakasi Catleap 1440P 
MonitorKeyboardPowerCase
ASUS V24H Corsair C70 EVGA Supernova 750 Thermaltake core v21 
Mouse
Roccat Kone+ 
  hide details  
Reply
Chatterwhite
(17 items)
 
  
CPUMotherboardGraphicsGraphics
Intel Core i5 4670k GRYPHON Z87 NVIDIA GeForce GTX 970 NVIDIA GeForce GTX 970 
GraphicsRAMHard DriveHard Drive
Intel(R) HD Graphics 4600 g.skill sniper 1866 8GB Mushkin Chronos 120GB Kingston SSD Now v300 256GB 
Hard DriveCoolingOSMonitor
2x WD Black in RAID 0 4TB Coolermaster Nepton 140XL Windows 10 Pro Yamakasi Catleap 1440P 
MonitorKeyboardPowerCase
ASUS V24H Corsair C70 EVGA Supernova 750 Thermaltake core v21 
Mouse
Roccat Kone+ 
  hide details  
Reply
post #118 of 120
Not from china. What IS the place buying the most bitcoins pray tell? Source please. I have no data myself, but I'm going to guess it's the US, and the place selling the most is south america. Why? drugs.
Edited by bombastinator - 12/16/13 at 2:16pm
New gaming rig
(15 items)
 
  
CPUMotherboardGraphicsRAM
4770k some mid range asrock. extreme 4 maybe? 2x gigabyte windforce 7950 2 x 8 corsair balistix sport 
Hard DriveOptical DriveCoolingOS
crucial ct960 LG blu-ray used venamous x win 8.1 pro 
MonitorKeyboardPowerCase
Crossover 30Q5 PRO 30" 2560X1600  cheapest piece of crud I could find antec HCG 750 some thermaltake microcenter blue-light-special... 
MouseMouse PadAudio
came with the cheapass keyboard who cares? some $30 no name 2+sub speakers I bought at mic... 
  hide details  
Reply
New gaming rig
(15 items)
 
  
CPUMotherboardGraphicsRAM
4770k some mid range asrock. extreme 4 maybe? 2x gigabyte windforce 7950 2 x 8 corsair balistix sport 
Hard DriveOptical DriveCoolingOS
crucial ct960 LG blu-ray used venamous x win 8.1 pro 
MonitorKeyboardPowerCase
Crossover 30Q5 PRO 30" 2560X1600  cheapest piece of crud I could find antec HCG 750 some thermaltake microcenter blue-light-special... 
MouseMouse PadAudio
came with the cheapass keyboard who cares? some $30 no name 2+sub speakers I bought at mic... 
  hide details  
Reply
post #119 of 120
Quote:
Originally Posted by Modus View Post

Didn't someone buy a Telsa with bit coins last week?

No, the dealership had the seller convert the bitcoins to US dollars, then purchase the vehicle. The dealership did not directly take bitcoin as payment.
post #120 of 120
Thread Starter 
Quote:
Originally Posted by Cryosis00 View Post

No, the dealership had the seller convert the bitcoins to US dollars, then purchase the vehicle. The dealership did not directly take bitcoin as payment.

Yup, they used an exchange/currency converting service. So the article was a little misleading with how it stated the facts....

Basically the buyer sold his coins to a middle man, who then took their fee, and handed the balance off to the dealership as pure cash.

Years ago I sold cars for a very brief period of time, and a guy bought a truck with gold and silver, but the dealership wouldn't take the gold and silver right out. Instead the dealer had the local gold buyer come in, buy the gold and silver off the guy in the showroom, write him a check, and then the guy selling the gold signed the check over to the dealership.

I asked why we had to do it this way and it had something to do with not being able to "sell" a product or item for gold, there are laws against it. You can "trade" gold for items, but then you are in an entirely new area of write offs, inventory, and accounting.
    
CPUMotherboardGraphicsRAM
Intel i7 5820K AsRock Extreme6 X99 Gigabyte GTX 980 Ti Windforce OC 16 GB Corsair Vengeance LPX 
Hard DriveHard DriveCoolingOS
Samsung 840 EVO 250GB - HDD Speed Edtition Samsung SM951 512 GB - I still hate Samsung!  Noctua NHD14 Windows 10 
MonitorMonitorMonitorKeyboard
Achieva Shimian QH270-Lite Overlord Computer Tempest X27OC  Acer Predator XB270HU Filco Majestouch 2 Ninja 
PowerCaseMouseMouse Pad
Seasonic X-1250 Fractal Design R5 Razer Naga Razer Goliathus Alpha 
AudioAudio
AKG K702 65th Anniversary Edition Creative Sound Blaster Zx 
  hide details  
Reply
    
CPUMotherboardGraphicsRAM
Intel i7 5820K AsRock Extreme6 X99 Gigabyte GTX 980 Ti Windforce OC 16 GB Corsair Vengeance LPX 
Hard DriveHard DriveCoolingOS
Samsung 840 EVO 250GB - HDD Speed Edtition Samsung SM951 512 GB - I still hate Samsung!  Noctua NHD14 Windows 10 
MonitorMonitorMonitorKeyboard
Achieva Shimian QH270-Lite Overlord Computer Tempest X27OC  Acer Predator XB270HU Filco Majestouch 2 Ninja 
PowerCaseMouseMouse Pad
Seasonic X-1250 Fractal Design R5 Razer Naga Razer Goliathus Alpha 
AudioAudio
AKG K702 65th Anniversary Edition Creative Sound Blaster Zx 
  hide details  
Reply
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Software News
Overclock.net › Forums › Industry News › Software News › [DailyMail] Bitcoin in freefall: Value of virtual currency dropping after China questions its legal status.