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-   -   Money Bitcoin Take? (https://chiefsplanet.com/BB/showthread.php?t=270065)

AustinChief 04-06-2013 02:34 PM
With the new ASIC hardware coming out later this month... bitcoin mining is going to explode. In theory, a $10k investment in hardware would pay itself off in less then a month and be all profit from there on out. Of course you only would have a year or two max to make that profit in... but hell if it is 20 months of $10k+ profit, that's not too shabby.

Hog's Gone Fishin 04-06-2013 02:38 PM
Quote:
Originally Posted by WhitiE (Post 9561397)
Bump?
My brother is talking to me about mining. Anyone got advice/info?

Yes. Wear a helment.

WhitiE 04-06-2013 03:36 PM
Quote:
Originally Posted by Hog Farmer (Post 9561672)
Yes. Wear a helment.
The light on the front optional?

AustinChief 04-06-2013 03:37 PM
Quote:
Originally Posted by WhitiE (Post 9561803)
The light on the front optional?
no way! that is mandatory!

WhitiE 04-06-2013 03:40 PM
I guess ill just duct tape my flashlight....

WhitiE 04-06-2013 03:42 PM
Quote:
Originally Posted by AustinChief (Post 9561663)
With the new ASIC hardware coming out later this month... bitcoin mining is going to explode. In theory, a $10k investment in hardware would pay itself off in less then a month and be all profit from there on out. Of course you only would have a year or two max to make that profit in... but hell if it is 20 months of $10k+ profit, that's not too shabby.
My brother is wanting to buy two of the ACIS from BFL. He said theres a waiting list so he is looking for other options

Hammock Parties 04-06-2013 03:50 PM
It's great for buying drugs and underage pr0n on the deep web.

You're burning money if you invest for any other reason.

AustinChief 04-06-2013 04:04 PM
Quote:
Originally Posted by Wonton Prejudice (Post 9561832)
It's great for buying drugs and underage pr0n on the deep web.

You're burning money if you invest for any other reason.
Unless you are mining.. in which case you are "creating" money.. so long as there is a market for it... and until it hits its cap in a few years (or more)

Hammock Parties 04-06-2013 04:10 PM
Aren't the electricity costs prohibitive?

AustinChief 04-06-2013 04:20 PM
Quote:
Originally Posted by Wonton Prejudice (Post 9561869)
Aren't the electricity costs prohibitive?
not with the new ASICs but yeah in the past you ate up all your profits by running a crapload of high wattage GPUs. I think the current gen ones coming out in Late April will cost less then $1/day to run. Which is why I expect an explosion in miners.

WhitiE 04-06-2013 05:39 PM
Quote:
Originally Posted by AustinChief (Post 9561894)
not with the new ASICs but yeah in the past you ate up all your profits by running a crapload of high wattage GPUs. I think the current gen ones coming out in Late April will cost less then $1/day to run. Which is why I expect an explosion in miners.
Thanks for a little info AC

Fish 04-10-2013 08:15 PM
Wow.... Bitcoin is kinda going crazy right now.

Quote:
Bitcoin, the digital currency, lost more than $160 (£104) in value on Wednesday, just hours after hitting a record high.

The currency hit a new high of $266 before falling to $105 and then bouncing back to $130. The fall is unlikely to put off speculators. Two months ago, a Bitcoin was worth $20.

http://www.guardian.co.uk/technology...igh-losing-160
I just looked at my Bitcoin balance... I've made several hundred dollars on the value of my Bitcoins.. Sounds like if I would have checked yesterday and cashed some out, I would have had twice as much.. When I bought Bitcoins, I only paid $20 a piece..

Simply Red 04-10-2013 08:17 PM
I've got to do it again - sorry in advance.


<iframe width="560" height="315" src="http://www.youtube.com/embed/rZOaaLLX1po" frameborder="0" allowfullscreen></iframe>

Simply Red 04-10-2013 08:19 PM
Quote:
Originally Posted by AustinChief (Post 9561894)
not with the new ASICs
Onitsuka Tigers for the win...:p

CoMoChief 04-10-2013 08:22 PM
<iframe width="560" height="315" src="http://www.youtube.com/embed/lVkXvwiVN8k" frameborder="0" allowfullscreen></iframe>


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