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Old 12-06-2017, 06:03 PM   #176
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I used my credit card to fund the deposit through PayPal. It is my regular Visa though, not a PayPal credit card.

Im actually kind of surprised to see your take on all of this. You and I both have finance degrees and have been around the block once or twice on these type of things. I would of thought you'd have the same suspicious attitude.

I just have a really hard time putting my trust in something that is all done electronically, which isn't backed by an agency or government, and can easily be manipulated. I wouldnt mind throwing a few hundred into this just to see it go up or down, but i sure as hell am not linking any of my accounts or paypal with it. I'll take a cashier check or tell the UPS or FEDEX guy to deliver me cash.
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Old 12-06-2017, 06:11 PM   #177
 
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Im actually kind of surprised to see your take on all of this. You and I both have finance degrees and have been around the block once or twice on these type of things. I would of thought you'd have the same suspicious attitude.

I just have a really hard time putting my trust in something that is all done electronically, which isn't backed by an agency or government, and can easily be manipulated. I wouldnt mind throwing a few hundred into this just to see it go up or down, but i sure as hell am not linking any of my accounts or paypal with it. I'll take a cashier check or tell the UPS or FEDEX guy to deliver me cash.
I had zero intention of investing in BTC. I have been using BTC to pay for pirated TV services for 5 or so years. I would use Virwox because I could use my credit card to pay through Paypal. I figured if it was a scam, I'd have PayPal and my CC company to fall back on.

I paid $28 for 1 full BTC when I started, and I used that to pay for 1 year of NFL Sunday Ticket...LOL!!!!!!!

When it hit ~$2k USD per BTC over the summer I threw in a few hundred dollars for the hell of it. I'm letting it ride for a while.
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Old 12-06-2017, 11:59 PM   #178
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Woops

https://techcrunch.com/2017/12/06/nicehash-hack/amp
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Old 12-07-2017, 12:35 AM   #179
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You don't say..........
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Old 12-07-2017, 08:06 AM   #180
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Hm...
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Old 12-07-2017, 10:37 AM   #181
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Bitcoin is sitting over 16k now....
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Old 12-07-2017, 01:39 PM   #182
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over 17K now...
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Old 12-07-2017, 01:45 PM   #183
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lol
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Old 12-07-2017, 01:46 PM   #184
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Am I rich yet?
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Old 12-07-2017, 02:00 PM   #185
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WTF?! That's crazy.

I'm going make up my own digital currency so I can get rich.
I'm calling it "Bytecoin" and it's 8 times better than Bitcoin.
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Old 12-07-2017, 02:01 PM   #186
 
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Coinbase went down this morning. Errrbody wanna get rich.

Bitcoin: Coinbase is Offline Amid Skyrocketing Prices | Fortune
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Old 12-07-2017, 02:03 PM   #187
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Am I rich yet?
My 50$ is worth $63!

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Old 12-07-2017, 02:04 PM   #188
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That must mean mine too....once it actually clears.
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Old 12-07-2017, 02:05 PM   #189
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I just read that prices for Bitcoin are varying over different exchanges right now.
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Old 12-07-2017, 03:30 PM   #190
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That must mean mine too....once it actually clears.
Yeah and who knows what the market will look like when that happens.
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Old 12-07-2017, 03:35 PM   #191
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Guess Ill find out on or before the 14th.
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Old 12-07-2017, 07:15 PM   #192
 
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Very interested to see how bitcoin is going to react when futures are going to be offered.
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Old 12-08-2017, 08:22 AM   #193
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Cracked 18k yesterday....now back down to 15k.

But the ALTcoins are rising today
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Old 12-08-2017, 12:21 PM   #194
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@tinfoilhat, why the fuck is my purchase taking so god damn long with coinbase?
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Old 12-08-2017, 12:25 PM   #195
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@tinfoilhat, why the fuck is my purchase taking so god damn long with coinbase?
mine is the same. says the 13th for me.

I think because you have to be verified and send an ID to make it faster? idk for sure though
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Old 12-10-2017, 09:04 AM   #196
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Someone posted a good TLDR on Reddit. Helps explain Bitcoin and how it works.

Quote:
edit: **Thanks for the gold, kind stranger!**

*

Bitcoins are created by computers doing math problems that are so hard and complicated that they cannot be faked, at least into the foreseeable future. While solving the math problems, they are also confirming transactions on the Bitcoin network.

*

These math problems are bundled together in groups called "Blocks". These hard math problems ensure that no one miner could just swoop in and confirm all the transactions for themselves and claim the reward. The math problems are the miner's "Proof of work."

*

When a block of these math problems is solved, Bitcoins are issued to the miner that solves the block of problems. The miner also receives the transaction fees of all of the transactions that were processed in that block. (Users pay a transaction fee every time they want to send a Bitcoin.)

*

Right now, each block of solved math problems and confirmed transactions rewards 12.5 Bitcoins.

*

If you have a mining farm (a bunch of computers solving these math problems and processing Bitcoin transactions) that solves a block, you will get the reward. So, you would get 12.5 Bitcoins plus all transaction fees that were paid for the Bitcoin transactions in that block.

*

This goes on and on and on. Once a block is solved and the coins issued, all of the work being done by miners goes into a new block and on and on and on...

*

Once all Bitcoins are issued in 2140, the miners will only earn the transaction fees for mining.

*
*

You can think of this whole process like an automated accountant. The purpose of all this hard work is to:

*


1) Process Bitcoin transactions on the network.

2) Limit the supply of Bitcoins so that they are not worthless.

3) Serve as the "Proof of work" that a miner was actually doing work mining for the network the whole time.

4) To create the public ledger of all transactions that take place on the Bitcoin network.

*

**TLDR, super simplified version:**

You know how Folding @Home works? It's kinda like that but each person who uses their computer to help the network gets paid in Bitcoins.

*

EDIT:

Here is a live feed of all Bitcoin transactions on the network and blocks being solved:

https://blockexplorer.com

Bitcoin miners are doing all that work.

You see the search box at the top of the page? You can search for any Bitcoin address or any transaction that's ever happened on the network.

The entire Bitcoin public ledger of transactions is known as the "Blockchain." The Blockchain is kept by all miners. It's a distributed public ledger. This allows the Bitcoin public ledger to exist without a centralized server farm controlled by one entity.

Right now the Blockchain is over [145 GB in size](https://blockchain.info/charts/blocks-size?timespan=all) and grows larger every time a new block is solved and added to the Blockchain.

edit: Clarified how the Bitcoins are issued to miners. I confused pool mining with individual mining.

Pool mining is just where a bunch of people pool their computers together to mine and then the pool operator divides the rewards evenly among all the miners in the pool. Kind of like a lottery pool, but with a fairly predictable payout.

edit:

**"Math problems" in this case refers to the [SHA-256](https://en.bitcoin.it/wiki/SHA-256) secure cryptographic hashing function created by the NSA.** It is used as a tool to secure the network, confirm transactions, and create secure Bitcoin addresses (you can think of a Bitcoin address as a Bitcoin account.) **The Bitcoin network is not used to process real world math problems.** It's all about cryptography and securing the network.
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Old 12-11-2017, 07:10 PM   #197
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Cause why not?

https://www.cnbc.com/2017/12/11/peop...seph-borg.html
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Old 12-11-2017, 07:11 PM   #198
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I can't wait for it to burst even more so.
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Old 12-11-2017, 07:11 PM   #199
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Still waiting for my measly 50 bucks to clear WHAT FUN THIS HAS BEEN SO FAR
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Old 12-11-2017, 07:13 PM   #200
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I threw 500 in when it was 7000. Also threw 300 at litecoin when it was 58
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