Doctor Smith Posted February 23, 2014 Report Share Posted February 23, 2014 Made 1000% profit last year in Bitcoin. I'm now investing in other Crypto currencies like Litecoin and Quark. Quark is only 6 cents per coin todyay so you can still buy many for very little. If any of you think you might want to invest in this type of thing I will help. I have through trial and error found the best and cheapest ways of doing this. I'll come back periodically to answer any reasonable questions any of you may have for free. Link to comment Share on other sites More sharing options...
twolincs Posted February 23, 2014 Report Share Posted February 23, 2014 Hello Doctor Smith, I have to say your post is an answer to my prayers. I just recently became aware of the industry and have been reading as much as I can to get educated. I answered a add offering to sell 50% profit sharing mining contract allegedly for life for a one time 5k investment for a 5000KH mining rig for life. I am not understanding all the lingo yet but what I've seen is lease contracts for rigs at 10GH for $700 a year that I can get into. I don't really know where to start but know that NOW is the time as I've seen reports of BitCoin ATM machines beginning to be placed in the states as well as many other positive readings on the industry. It would be an honor to speak with an experienced trader that's been through the trenches of trial and error with this. I'm ready to jump in and want to get involved in at least a small contract for March to get started. Any support or advise would be much appreciated as my investing grade to date would be in the gutter for sure. I'm looking at a particular company to get involved in SHA and Script contracts. Thank you for your time and hope to hear back from you. God Bless Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 23, 2014 Author Report Share Posted February 23, 2014 (edited) I hope the Lord was in time. Stay away from the mining. Lot's of scams. Plus, you can generally buy much more coins directly for the same money. Never buy any mining equipment without a credit card and or Pay Pal. Mining contracts are sometimes ok but you generally get more coins buying direct. Without the hassles or worry. To start. Set up an account with Coinbase. Directly linked to your bank account. Then you can purcase Bitcoin with Dollars for the lowest fees. Then you can go to exchanges and trade for other Cryptos as you want. https://coinbase.com/ Edited February 23, 2014 by Doctor Smith Link to comment Share on other sites More sharing options...
Darin Posted February 23, 2014 Report Share Posted February 23, 2014 I hope the Lord was in time. Stay away from the mining. Lot's of scams. Plus, you can generally buy much more coins directly for the same money. Never buy any mining equipment without a credit card and or Pay Pal. Mining contracts are sometimes ok but you generally get more coins buying direct. Without the hassles or worry. To start. Set up an account with Coinbase. Directly linked to your bank account. Then you can purcase Bitcoin with Dollars for the lowest fees. Then you can go to exchanges and trade for other Cryptos as you want. https://coinbase.com/ Mining is essential to keep the block chain going. It can be a tough decision to make, but if done wisely, mining can get your initial investment & than some back. Pros/Cons Mining - you aren't set to one coin (you can switch to what is most profitable at one given time). Once your original investment is gained back, everything beyond that is profit. If cryptos were to suddenly crash in an overnight sensation... You still have computer gear you can sell off (GPUs to gamers). Cons - can't take advantage of surges in value if they present themselves (i.e., blahblah coin went up 10 times in value) Buying, holding, trading: - Day trading can be tricky and not ideal for newcomers. You can't really follow traditional market trading strategies. But you are easily able to trade if you wish. I.e., if you wish to convert btc to ltc or vice versa or any other promising alt coins. You would get an initial larger volume buy buying them straight up. If the value surges you win (much more than if you had mined since you hold more volume). Id say if your not great with computers - buying is likely the better way to hold as a speculative investment. If you're PC savvy, you could possibly setup yourself to mine instead. New coins emerge all the time - some may surge in value. Think of penny stocks in this sense.. 1 Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 23, 2014 Author Report Share Posted February 23, 2014 I don't know of one case of someone making more money mining, then if they just spent the money on Bitcoin instead. Most mining doesn't even return your initial investment. You also have to think of the electricity costs. I know some who mine and like it. You have to move from coin to coin increasing your chance of malware etc. I don't recommend day trading either. Most lose money day trading. Just buy and hold. Trade as little as possible. Link to comment Share on other sites More sharing options...
zantac Posted February 23, 2014 Report Share Posted February 23, 2014 I've seen reports of BitCoin ATM machines beginning to be placed in the States Now i must admit thats really got me confused....if bitcoin is a cyber currency then what is the point in an ATM....you cant take the money out of the machine as its COINS & moreover if its a cyber currency how the heck are they going to do that....print you out a picture of 10 bitcoins you withdraw Everyone thinking it I am just saying??? 2 Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 23, 2014 Author Report Share Posted February 23, 2014 I'm not sure about that one. Maybe for a fee you can trade back and forth. Fiat for Bitcoin or other Crypto's. Thy are always trying to make it more available to mainstream. Link to comment Share on other sites More sharing options...
twolincs Posted February 23, 2014 Report Share Posted February 23, 2014 Yahoo Business has the report . . . can't get the link to post If I had the answer I wouldn't be here asking questions Link to comment Share on other sites More sharing options...
Darin Posted February 24, 2014 Report Share Posted February 24, 2014 I don't know of one case of someone making more money mining, then if they just spent the money on Bitcoin instead. Most mining doesn't even return your initial investment. You also have to think of the electricity costs. I know some who mine and like it. You have to move from coin to coin increasing your chance of malware etc. I don't recommend day trading either. Most lose money day trading. Just buy and hold. Trade as little as possible. Hard to mine BTC & be profitable. Script-based coins, different scenario. As listed in above scenario - you invest in an alt coin & it fails entirely to become worthless, initial investment is lost. Mining, you can switch coins.. Most miners dump their rewards quickly anyways (paying for costs, upgrades, etc). Now i must admit thats really got me confused....if bitcoin is a cyber currency then what is the point in an ATM....you cant take the money out of the machine as its COINS & moreover if its a cyber currency how the heck are they going to do that....print you out a picture of 10 bitcoins you withdraw Everyone thinking it I am just saying??? I'm thinking the concept is to transfer BTC to the machine so you can withdraw FIAT Probably pretty handy if you wanted to get cash to spend where crypto is not accepted Link to comment Share on other sites More sharing options...
64jaguar Posted February 25, 2014 Report Share Posted February 25, 2014 (edited) If your into Bitcoin, You'll want to have a position in GBBG BitBillions. Although they have several Bitcoin Businesses running right now and give away Free bitcoin and a 1/2 price cash site, their plans are to introduce an entirely new system for Bitcoin so that it becomes very user friendly. It's free to join right now and about $30.00 bucks to gain a co-founder position which they estimate will be worth over $400,000.00 dollars in the future. It's worth a look. ************************ Cheers! ******Do not post affiliate links unless you have prior approval from Adam Montana *********** It is against forum rules Edited February 25, 2014 by TexasGranny removed affiliate link Link to comment Share on other sites More sharing options...
coorslite21 Posted February 25, 2014 Report Share Posted February 25, 2014 Don't mean to rain on the Bit Coin Parade. But, how do you view/explain the recent events happening with Bit Coin? "Mt Gox, once the world's largest bitcoin exchange, has lost 744,000 bitcoins, or 6 percent of total units in circulation. Technical glitches in February have forced the trading platform to consider filing for bankruptcy." the link has the whole article. http://rt.com/business/mtgox-bitcoin-exchange-offline-603/ 3 1 Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 26, 2014 Author Report Share Posted February 26, 2014 Don't mean to rain on the Bit Coin Parade. But, how do you view/explain the recent events happening with Bit Coin? "Mt Gox, once the world's largest bitcoin exchange, has lost 744,000 bitcoins, or 6 percent of total units in circulation. Technical glitches in February have forced the trading platform to consider filing for bankruptcy." the link has the whole article. http://rt.com/business/mtgox-bitcoin-exchange-offline-603/ I never keep any Bitcoin up on any exchanges. You would have to be a fool. At most I send a few Bitcoins up to an exchange and trade it quickly. Then send the coins back to my wallets. Then Cold storage. I check to see if the exchange is having any trouble and if they are I don't do business with them. Because Bitcoin takes so long to properly verify, Mt Gox didn't wait for full verification and lost Bitcoins to hackers. Quark Coin is ten times faster and more secure. Quark Coin was coded by coders from Bitcoin. Quark Coin is now only 5 Cents per coin! When Bitcoin crashes it's just a chance for me to grab more coins. I hope Bitcoin crashes below 100 dollars and scares the crap out of everyone. I will buy as much as I can until the money is gone. Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 26, 2014 Author Report Share Posted February 26, 2014 If your into Bitcoin, You'll want to have a position in GBBG BitBillions. Although they have several Bitcoin Businesses running right now and give away Free bitcoin and a 1/2 price cash site, their plans are to introduce an entirely new system for Bitcoin so that it becomes very user friendly. It's free to join right now and about $30.00 bucks to gain a co-founder position which they estimate will be worth over $400,000.00 dollars in the future. It's worth a look. ************************ Cheers! ******Do not post affiliate links unless you have prior approval from Adam Montana *********** It is against forum rules Haven't heard about this. Beware. Plenty of scammers out there trying to keep everyone confused so they can prey on them. Link to comment Share on other sites More sharing options...
Darin Posted February 26, 2014 Report Share Posted February 26, 2014 I never keep any Bitcoin up on any exchanges. You would have to be a fool. At most I send a few Bitcoins up to an exchange and trade it quickly. Then send the coins back to my wallets. Then Cold storage. I check to see if the exchange is having any trouble and if they are I don't do business with them. Because Bitcoin takes so long to properly verify, Mt Gox didn't wait for full verification and lost Bitcoins to hackers. Quark Coin is ten times faster and more secure. Quark Coin was coded by coders from Bitcoin. Quark Coin is now only 5 Cents per coin! When Bitcoin crashes it's just a chance for me to grab more coins. I hope Bitcoin crashes below 100 dollars and scares the crap out of everyone. I will buy as much as I can until the money is gone. No doubt - online exchange storage is not the smartest move... You should only be there for their purpose, which is a trade. Little background on MtGox, it used to be an online trading site for Magic the Gathering Cards... It later picked up BTC to trade & was sold to Mark in 2011. On a side note, if it were to hit the $100/mark, it most definitely would be worth buying up. Pretty sure the buying support of the coin won't let it fall that low. However, I'm surprised it hasn't fallen lower. Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 26, 2014 Author Report Share Posted February 26, 2014 No doubt - online exchange storage is not the smartest move... You should only be there for their purpose, which is a trade. Little background on MtGox, it used to be an online trading site for Magic the Gathering Cards... It later picked up BTC to trade & was sold to Mark in 2011. On a side note, if it were to hit the $100/mark, it most definitely would be worth buying up. Pretty sure the buying support of the coin won't let it fall that low. However, I'm surprised it hasn't fallen lower. So many now know about Bitcoin that it isn't crashing the way It did in the past. I expected it to go back to $400 and hang their for a while. I expected 400 to be the new level after it settled down from the last wave. Mt Gox has been having trouble for a long time. I knew not to do business with them when it was reported they wouldn't let anyone withdraw fiat or Bitcoin. This has been going on for over 6 months. They offered a high price for bitcoin so fools kept sending it up to Gox even though they knew withdrawls were frozen. Lose it all for a good deal. What a joke. Link to comment Share on other sites More sharing options...
Darin Posted February 26, 2014 Report Share Posted February 26, 2014 So many now know about Bitcoin that it isn't crashing the way It did in the past. I expected it to go back to $400 and hang their for a while. I expected 400 to be the new level after it settled down from the last wave. Mt Gox has been having trouble for a long time. I knew not to do business with them when it was reported they wouldn't let anyone withdraw fiat or Bitcoin. This has been going on for over 6 months. They offered a high price for bitcoin so fools kept sending it up to Gox even though they knew withdrawls were frozen. Lose it all for a good deal. What a joke. Doesn't seem that it wants to hit that point ($400 level)... Either way, the news gives BTC a negative connotation for those not to aware of how they work. But if $500 level is as low as it'll go with recent bad news (& something of that serious nature) there is obviously a lot of support for it. Link to comment Share on other sites More sharing options...
Zigs Posted February 26, 2014 Report Share Posted February 26, 2014 Made 1000% profit last year in Bitcoin. I'm now investing in other Crypto currencies like Litecoin and Quark. Quark is only 6 cents per coin todyay so you can still buy many for very little. If any of you think you might want to invest in this type of thing I will help. I have through trial and error found the best and cheapest ways of doing this. I'll come back periodically to answer any reasonable questions any of you may have for free. I would be interested. Where do you think Quark is going to go? Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 26, 2014 Author Report Share Posted February 26, 2014 I would be interested. Where do you think Quark is going to go? I'm betting that Quark will go up to many Dollars. It's about number 10 already and it came out last summer. It isn't just a copy clone hype coin either. It has something new to offer. But their are many coins and anything can happen. Link to comment Share on other sites More sharing options...
divemaster5734 Posted February 27, 2014 Report Share Posted February 27, 2014 I hope the Lord was in time. Stay away from the mining. Lot's of scams. Plus, you can generally buy much more coins directly for the same money. Never buy any mining equipment without a credit card and or Pay Pal. Mining contracts are sometimes ok but you generally get more coins buying direct. Without the hassles or worry. To start. Set up an account with Coinbase. Directly linked to your bank account. Then you can purcase Bitcoin with Dollars for the lowest fees. Then you can go to exchanges and trade for other Cryptos as you want. https://coinbase.com/ Mining is essential to keep the block chain going. It can be a tough decision to make, but if done wisely, mining can get your initial investment & than some back. Pros/Cons Mining - you aren't set to one coin (you can switch to what is most profitable at one given time). Once your original investment is gained back, everything beyond that is profit. If cryptos were to suddenly crash in an overnight sensation... You still have computer gear you can sell off (GPUs to gamers). Cons - can't take advantage of surges in value if they present themselves (i.e., blahblah coin went up 10 times in value) Buying, holding, trading: - Day trading can be tricky and not ideal for newcomers. You can't really follow traditional market trading strategies. But you are easily able to trade if you wish. I.e., if you wish to convert btc to ltc or vice versa or any other promising alt coins. You would get an initial larger volume buy buying them straight up. If the value surges you win (much more than if you had mined since you hold more volume). Id say if your not great with computers - buying is likely the better way to hold as a speculative investment. If you're PC savvy, you could possibly setup yourself to mine instead. New coins emerge all the time - some may surge in value. Think of penny stocks in this sense.. Here in the Seattle Area mining is the new frontier. I just did an estimate for a guy that has so many servers in his garage it keeps the otherwise unheated garage warmer than the house, and it was around 38 outside when I was there. He had to run extension cords for extra power and was blowing circuit breakers anytime someone turned on certain lights in the house. We started talking about mining, but after the first 3 words my eyes glazed over.(I was lost) He works out of town at lots of different locations, so at night he uses remote access to work the mining to keep him busy when he isn't at home with his family. It's going to take over 6000 watts to drive the servers, running 27/7, that will wind up costing a little over $20 a day, $7,463.00 over a year.( as long as KWPH rates don't change) Each tower was at least mid level build, I just did a mid level gamer and it cost $4,500, for one. That's a butt load of money to invest. I think I would rather just invest in a portfolio and wait. Had a chance to buy bit coins last year and turned it down 1 Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 27, 2014 Author Report Share Posted February 27, 2014 Theirs one of those miners born every day. Curent difficulty of BTC is 2,147,483,647 That's why they keep inventing new coins. So they can mine them before the difficulty gets too high. then trade them for other better coins or cash. Link to comment Share on other sites More sharing options...
rulesforrebels Posted February 27, 2014 Report Share Posted February 27, 2014 I don't know of one case of someone making more money mining, then if they just spent the money on Bitcoin instead. Most mining doesn't even return your initial investment. You also have to think of the electricity costs. I know some who mine and like it. You have to move from coin to coin increasing your chance of malware etc. I don't recommend day trading either. Most lose money day trading. Just buy and hold. Trade as little as possible. I agree, if someone has to ask about bitcoin or mining they are not going to be successful, they will either be taken advantage of in the contract or dont know enough to be profitable. The only mining I feel which is worth it which is still a gamble is the up and comming coins Link to comment Share on other sites More sharing options...
Doctor Smith Posted February 28, 2014 Author Report Share Posted February 28, 2014 Here in the Seattle Area mining is the new frontier. I just did an estimate for a guy that has so many servers in his garage it keeps the otherwise unheated garage warmer than the house, and it was around 38 outside when I was there. He had to run extension cords for extra power and was blowing circuit breakers anytime someone turned on certain lights in the house. We started talking about mining, but after the first 3 words my eyes glazed over.(I was lost) He works out of town at lots of different locations, so at night he uses remote access to work the mining to keep him busy when he isn't at home with his family. It's going to take over 6000 watts to drive the servers, running 27/7, that will wind up costing a little over $20 a day, $7,463.00 over a year.( as long as KWPH rates don't change) Each tower was at least mid level build, I just did a mid level gamer and it cost $4,500, for one. That's a butt load of money to invest. I think I would rather just invest in a portfolio and wait. Had a chance to buy bit coins last year and turned it down I was thinking of buying $1000 of Bitcoin when it was 8 cents. That would have been 7 million dollars today. But it was hard to find a way to buy it without getting ripped off. So I gave up and forgot about it. I agree, if someone has to ask about bitcoin or mining they are not going to be successful, they will either be taken advantage of in the contract or dont know enough to be profitable. The only mining I feel which is worth it which is still a gamble is the up and comming coins If I was going to mine at this point. I would get a good deal on a prebuilt GPU and an Asic. Not spending too much I could then get a feel for it. And then decide of it would be worth it to expand. Link to comment Share on other sites More sharing options...
Darin Posted February 28, 2014 Report Share Posted February 28, 2014 I was thinking of buying $1000 of Bitcoin when it was 8 cents. That would have been 7 million dollars today. But it was hard to find a way to buy it without getting ripped off. So I gave up and forgot about it. If I was going to mine at this point. I would get a good deal on a prebuilt GPU and an Asic. Not spending too much I could then get a feel for it. And then decide of it would be worth it to expand. I know the feeling - hindsight is 20/20 I think an article circulated on DV after it topped $30 & crashed... Who would of thought even than was a great time to buy right? Mining can be a fun hobby - but it really depends on a lot of factors Low difficulties can be good (achieve coins easier) Higher block rewards (large rewards) Good balanced pool (too small of a setup vs a large pool means you're getting a small % of shares - too small of a pool and no blocks are being found) Than luck is a factor over all (finding blocks) If you have a decent setup and start mining on a fairly new coin & rake in a large # of coins, the value sometimes has gone up and people who were early adopters have made money. If you have a pretty well built setup or rig and lets say its paid off, you can make money on a daily basis just running it. There really is pros & cons to buying vs mining. If you have more of a long-term goal in mind; buying is the way to go... If you were hoping for quicker/faster returns (although smaller ROI%) mining may be the answer. Mining; you don't have to worry about the risk of $ put in with the exception of a little bit of your time & electricity while buying can get you more coins, you have to keep in mind the risks involved... Regardless, prices fluctuate all the time and patience can really pay off. If we all bought BTC when it was $0.08, who here would of held to present day? The select few who forgot about it or those so greedy that patience & time was no issue to them. Link to comment Share on other sites More sharing options...
64jaguar Posted March 1, 2014 Report Share Posted March 1, 2014 If your into Bitcoin, You'll want to have a position in GBBG BitBillions. Although they have several Bitcoin Businesses running right now and give away Free bitcoin and a 1/2 price cash site, their plans are to introduce an entirely new system for Bitcoin so that it becomes very user friendly. It's free to join right now and about $30.00 bucks to gain a co-founder position which they estimate will be worth over $400,000.00 dollars in the future. It's worth a look. ************************ Cheers! ******Do not post affiliate links unless you have prior approval from Adam Montana *********** It is against forum rules Thanks TexasGranny, Sorry bout that, wasn't aware of that rule! As far as Bitbillions goes, no investment necessary, it's free to join. Link to comment Share on other sites More sharing options...
Sage449 Posted March 3, 2014 Report Share Posted March 3, 2014 An article I received on bitcoins and suit filed - still seems like a tremulous investment - one that I don't know enough about the entire process to do it correctly or likely safely. Found the article interesting given the activity and news on bitcoins. http://fpn.advisen.com/fpnHomepagep.shtml?resource_id=2141441021174375080&userEmail=ann.donegan@ch2m.com#top Mt. Gox sued over 8,50,000 Bitcoins loss [Asian News International] Publication Date 03/01/2014 Source: Asian News International Washington, Mar. 01 (ANI): A Chicago based law firm has filed a suit against Mt. Gox, which was once the largest Bitcoin exchange in the world, over loss of 8,50,000 Bitcoin units. Mt. Gox, which is in outstanding debt of about 63.6 million dollars, had earlier filed for bankruptcy protection over their loss of Bitcoin units including 7,50,000 units belonging to customers worth 477 million dollars. According to Tech Crunch, the law firm, Edelson PC, filed the lawsuit on behalf of someone named Gregory Greene and all the other U.S. residents who are affected by the collapse of Mt. Gox. A managing partner at Edelson PC, Jay Edelson, said that proving fraud would be their main concern as Mt. Gox's bankruptcy protection would not be able to shield it and further added that if people could 'go in' and 'hack' it, then there was nothing more than it being monopoly money. Edelson further added that not only was Mt. Gox not secure, but they also didn't pay attention to their security and if people had understood that they weren't minding the store, they wouldn't have invested. Another Mt. Gox client had sent in an email stating that the exchange was clearly operating with the intentions of minting money, neglecting the fact that their actions were costing huge setbacks in a lot of peoples' life, the report added. (ANI) © 2014 aninews.in All rights reserved. Provided by Syndigate.info, an Albawaba.com company Link to comment Share on other sites More sharing options...
Recommended Posts