Re: Bitcoin plummets
[Re: trapper les]
#7469866
01/23/22 10:55 AM
01/23/22 10:55 AM
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Joined: Dec 2006
Posts: 4,907 PA
elkaholic
trapper
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trapper
Joined: Dec 2006
Posts: 4,907
PA
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70's From what I understand the reason most of the mining is done in China and Russia is the electricity costs are much lower.
Helium mining sounds interesting. I don't have a computer capable to even think about doing it. My son is currently building one though that may just be the ticket.
Millions of trees die every year to print environmentalist publications
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Re: Bitcoin plummets
[Re: trapper les]
#7469883
01/23/22 11:12 AM
01/23/22 11:12 AM
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Joined: Dec 2008
Posts: 1,745 eastern washinghton
70sdiver
trapper
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trapper
Joined: Dec 2008
Posts: 1,745
eastern washinghton
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They have been shutting down mining in China for the last year saying it’s costing to much energy but the real reason are to many people were making to much money.You can use bitcoin in China and lots of people are exchanging it between there selves for good and services and China doesn’t like that.china is also working on their own digital currency,this in my option is one of the biggest threats to freedom in the world.Our government is also talking about going digital currency,We must never let this happen if we do they can totally control what you can buy ,they can seize all you’ve money and if everything is digital any future earning could still seized as we will all be assigned a digital wallet for life.
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Re: Bitcoin plummets
[Re: trapper les]
#7469885
01/23/22 11:13 AM
01/23/22 11:13 AM
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Joined: Dec 2006
Posts: 4,907 PA
elkaholic
trapper
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trapper
Joined: Dec 2006
Posts: 4,907
PA
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Do you have a dedicated server just for mining?
Millions of trees die every year to print environmentalist publications
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Re: Bitcoin plummets
[Re: newfox1]
#7470044
01/23/22 02:17 PM
01/23/22 02:17 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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So talk me through this, Bitcoin is very valuable, but the value that we gauge it with is in U.S. dollars, which are going to be worthless????? The value today is measured in US Dollars. IMHO Bitcoin will have failed if it's always denominated in central bank controlled currencies.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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Re: Bitcoin plummets
[Re: elkaholic]
#7470099
01/23/22 03:11 PM
01/23/22 03:11 PM
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Joined: Dec 2008
Posts: 1,745 eastern washinghton
70sdiver
trapper
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trapper
Joined: Dec 2008
Posts: 1,745
eastern washinghton
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Do you have a dedicated server just for mining? I’m running a Linux operating system for mining called hiveos.Im in a pool of miners that’s mining from hiveon pool.As the pool finds a coin the profits are split on how many meghash your farm is running.
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Re: Bitcoin plummets
[Re: newfox1]
#7470105
01/23/22 03:14 PM
01/23/22 03:14 PM
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Joined: Feb 2015
Posts: 1,934 SE WI
DuxDawg
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trapper
Joined: Feb 2015
Posts: 1,934
SE WI
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What puzzles me is, do you use real money to buy imaginary money????? No. It's one form of imaginary money used to purchase another form of imaginary money. Fed reserve notes (what everyone thinks of as a dollar these days) is fiat currency, which means imaginary. Along that same line of thought, Cryptos could also be considered imaginary. However, since we can purchase tangible goods with either, "imaginary" is more hyperbole than fact.
"All that is necessary for the triumph of evil is that good men do nothing." -Edmund Burke "We are fast approaching... rule by brute force." -Ayn Rand
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Re: Bitcoin plummets
[Re: DuxDawg]
#7470112
01/23/22 03:21 PM
01/23/22 03:21 PM
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Joined: Dec 2006
Posts: 21,536 Sandhills Nebraska
Gary Benson
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trapper
Joined: Dec 2006
Posts: 21,536
Sandhills Nebraska
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What puzzles me is, do you use real money to buy imaginary money????? No. It's one form of imaginary money used to purchase another form of imaginary money. Fed reserve notes (what everyone thinks of as a dollar these days) is fiat currency, which means imaginary. Along that same line of thought, Cryptos could also be considered imaginary. However, since we can purchase tangible goods with either, "imaginary" is more hyperbole than fact. Thats interesting. We've been programmed to get excited when we have a big handful of ink on paper. The more the Gubmint prints the less it's worth. Now there's many more digital dollars than paper dollars.
Life ain't supposed to be easy.
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Re: Bitcoin plummets
[Re: trapper les]
#7470464
01/23/22 08:09 PM
01/23/22 08:09 PM
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Joined: May 2012
Posts: 5,895 michigan,USA
seniortrap
trapper
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trapper
Joined: May 2012
Posts: 5,895
michigan,USA
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At the Fort Mackinaw area (between the Lower peninsula and Upper) it was the trade for pelts from 18 hundreds and the gateway to the west by way of water.
Vietnam--1967 46th. Const./Combat Engineers
"Chaotic action is preferable to orderly inaction." "After the first shot, all plans go out the window!"
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Re: Bitcoin plummets
[Re: trapper les]
#7470656
01/23/22 10:22 PM
01/23/22 10:22 PM
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Joined: May 2010
Posts: 10,421 mn north of blakely
Steven 49er
trapper
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trapper
Joined: May 2010
Posts: 10,421
mn north of blakely
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Do you listen to what I say? I'm never selling it as you put it for cash to make money. To me it's insurance for what I believe is coming. I will use it when it's a universal medium of exchange and I'll trade it for goods and services
I'll worry about the income taxes when that happens. Who knows what the tax laws will be then. If I die? The kids will get it, then it will be their problem.
Last edited by Steven 49er; 01/23/22 10:23 PM.
"Inflation is always and everywhere a monetary phenomenon". Milton Friedman.
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