Page 2 of 6 FirstFirst 1234 ... LastLast
Results 21 to 40 of 118

Bitcoin and Other Cryptocurrencies - Page 2

| Off Topic Discussions
  1. #21
    Otto's Avatar
    SMF Badges of Honor


    Member since
    Nov 2011
    Location
    Ottawa, Ontario
    Posts
    335
    Thanks
    494
    Thanked 322 Times in 166 Posts
    Quote Originally Posted by HipoGear View Post
    If the government can eliminate cash, they will be able to track and control everyone a bit easier. Wonder what the drug dealers will use?
    History shows that people will use durable goods as currency. In Germany, post WWII, cigarettes, liquor, chocolates, nylons, etc. were used as mediums of exchange. In the Communist times, blue jeans and coffee could get you almost anything.


  2. The Following 5 Users say Thank You for This Post by Otto:



  3. #22
    Patriot76's Avatar
    SMF Badges of Honor


    Member since
    Dec 2012
    Location
    Buffalo Commons
    Posts
    2,949
    Thanks
    10,589
    Thanked 7,220 Times in 2,256 Posts
    For a thread I knew nothing about, I have made numerous posts. In my research on this topic this was found. Very impressive.

    If you bought $100 of bitcoin 7 years ago, you'd be sitting on $72.9 million now after new record high
    Last edited by Patriot76; 05-22-2017 at 09:29 AM.
    Give back more to this world than we take.

  4. The Following 2 Users say Thank You for This Post by Patriot76:


  5. #23
    t00nces2 started this thread.
    t00nces2's Avatar
    SMF Badges of Honor


    Member since
    Jul 2014
    Location
    Sarasota, FL
    Posts
    1,693
    Thanks
    1,187
    Thanked 2,341 Times in 958 Posts
    Quote Originally Posted by Patriot76 View Post
    For a thread I knew nothing about, I have made numerous posts. In my research on this topic this was found. Very impressive.

    If you bought $100 of bitcoin 7 years ago, you'd be sitting on $72.9 million now after new record high
    I heard that. I have regretted not buying when I first thought I should buy. I did buy ethereum about three months ago for $10 a coin. It is at $170 a coin at this point. I cashed out 8 coin at $43 a coin and basically doubled the fiat I put in.

  6. The Following 2 Users say Thank You for This Post by t00nces2:


  7. #24
    DiamondN's Avatar
    SMF Badges of Honor


    Member since
    Oct 2012
    Location
    Indiana
    Posts
    912
    Thanks
    2,150
    Thanked 378 Times in 243 Posts
    There's an interesting dvd and/or video out there entitled 'The Rise and Rise of BitCoin' that explains the history of BitCoin.

  8. The Following 2 Users say Thank You for This Post by DiamondN:


  9. #25
    hobo finds's Avatar
    SMF Badges of Honor


    Member since
    Nov 2010
    Location
    tucson, az
    Posts
    4,746
    Thanks
    6,035
    Thanked 5,906 Times in 2,555 Posts

  10. The Following 2 Users say Thank You for This Post by hobo finds:


  11. #26
    ryanw's Avatar
    SMF Badges of Honor


    Member since
    Oct 2012
    Location
    TX
    Posts
    1,312
    Thanks
    526
    Thanked 1,290 Times in 648 Posts
    111111
    Last edited by ryanw; 07-26-2022 at 04:00 PM.

  12. The Following 3 Users say Thank You for This Post by ryanw:


  13. #27
    mikeinreco's Avatar
    SMF Badges of Honor


    Member since
    Dec 2011
    Location
    TENNESSEE
    Posts
    4,972
    Thanks
    1,257
    Thanked 5,023 Times in 2,350 Posts
    Quote Originally Posted by ryanw View Post
    Hey I haven't been to the forum in awhile, but I am deep into cryptocurrencies now. Don't sell any more ETHER! Keep it, seriously. In 10 years you will be glad you did. I am invested in several different currencies, and am mining a couple. My brother has set up an Etherium mining rig as well. I didn't jump in as early as you, but my investment has increased 20X, and I'm in for the long haul. At minimum, I will consider selling around 5 years from now, unless some target prices are met before then, and I cash some out. I started a thread about a coin I think is special here: https://www.scrapmetalforum.com/off-...ive-space.html

    I can say that I'm on the fence about investing into it vs other currencies, but it's cheap to buy right now at about 1 cent each, and easy to mine. The community is what got me hooked on it.
    Ryan my good buddy when you become a multi-millionaire off cryptocurrency don't forget about your lowly friends here at the SMF.........Hope you do well!!!!!!!!!!!!!!!!!!!

  14. The Following 4 Users say Thank You for This Post by mikeinreco:


  15. #28
    ryanw's Avatar
    SMF Badges of Honor


    Member since
    Oct 2012
    Location
    TX
    Posts
    1,312
    Thanks
    526
    Thanked 1,290 Times in 648 Posts
    111111
    Last edited by ryanw; 07-26-2022 at 04:00 PM.

  16. The Following User Says Thank You to ryanw for This Post:


  17. #29
    Patriot76's Avatar
    SMF Badges of Honor


    Member since
    Dec 2012
    Location
    Buffalo Commons
    Posts
    2,949
    Thanks
    10,589
    Thanked 7,220 Times in 2,256 Posts
    Just an update and a reminder that any currency is vulnerable.

    Now bitcoin is crashing as technology stocks drop

    Physical assets we can control, currency is another story.

  18. The Following User Says Thank You to Patriot76 for This Post:


  19. #30
    RLS0812's Avatar
    SMF Badges of Honor

    Member since
    Feb 2014
    Location
    Bucks County Pennsylvania
    Posts
    895
    Thanks
    155
    Thanked 633 Times in 358 Posts
    $400 in 1 day ... ouch !

  20. The Following User Says Thank You to RLS0812 for This Post:


  21. #31
    t00nces2 started this thread.
    t00nces2's Avatar
    SMF Badges of Honor


    Member since
    Jul 2014
    Location
    Sarasota, FL
    Posts
    1,693
    Thanks
    1,187
    Thanked 2,341 Times in 958 Posts
    Quote Originally Posted by Patriot76 View Post
    Just an update and a reminder that any currency is vulnerable.

    Now bitcoin is crashing as technology stocks drop

    Physical assets we can control, currency is another story.
    For Bitcoin to "crash", it would have to drop below $1,000. How much did the market drop today? How is the dollar doing? How has copper? Gold? Silver? Aluminum? done? Just sayin'.

  22. The Following 3 Users say Thank You for This Post by t00nces2:


  23. #32
    SMF Badges of Honor


    Member since
    Apr 2012
    Location
    Youngstown, OH
    Posts
    606
    Thanks
    6
    Thanked 282 Times in 193 Posts
    Kind of hard to judge the value of bitcoins since very little actually gets cashed out and used. Small quantities cashed out are no problem, but once more is cashed then people want to purchase the value drops like a rock (just like stocks that are worthless until somebody wants to buy yours).

    Lets say you did make $1M in bitcoins over the years, exactly how are you going to cash it in without the taxman robbing you blind (can you prove you didn't get it selling drugs?)? Eventually you need to hit a bank or buy something pricey from a store that uses the currency (not that many do).

  24. The Following User Says Thank You to unknownk for This Post:


  25. #33
    ryanw's Avatar
    SMF Badges of Honor


    Member since
    Oct 2012
    Location
    TX
    Posts
    1,312
    Thanks
    526
    Thanked 1,290 Times in 648 Posts
    111111
    Last edited by ryanw; 07-26-2022 at 03:59 PM.

  26. The Following 2 Users say Thank You for This Post by ryanw:


  27. #34
    t00nces2 started this thread.
    t00nces2's Avatar
    SMF Badges of Honor


    Member since
    Jul 2014
    Location
    Sarasota, FL
    Posts
    1,693
    Thanks
    1,187
    Thanked 2,341 Times in 958 Posts
    Quote Originally Posted by unknownk View Post
    Kind of hard to judge the value of bitcoins since very little actually gets cashed out and used. Small quantities cashed out are no problem, but once more is cashed then people want to purchase the value drops like a rock (just like stocks that are worthless until somebody wants to buy yours).

    Lets say you did make $1M in bitcoins over the years, exactly how are you going to cash it in without the taxman robbing you blind (can you prove you didn't get it selling drugs?)? Eventually you need to hit a bank or buy something pricey from a store that uses the currency (not that many do).
    Quote Originally Posted by ryanw View Post
    A big reason for the volatility in cryptocurrency is the current market size. All it takes is a couple big players to move prices substantially. Bitcoin's market cap is around $45billion....I read that just Apple's market cap hit $800billion last month. Once the cryptocurrency markets get larger and mature, theoretically the volatility will start evening out as well.
    Ok, guys. I am not trying to get you to throw the retirement fund into Bitcoin, but you may want to consider a couple hundred just for $hit's and giggles. If you are anything like me, I waste a couple hundred bucks on beer and bullcocka in a very short time. It may pay out and there is a good chance it will. I think the run up is just starting. If every person in the U.S. wanted one Bitcoin, there are not enough Bitcoins to satisfy the demand. If $200 is the rent money, don't gamble. But if you piss away money like a lot of people do, take a shot. You have a lot better chance than the lottery.
    Last edited by t00nces2; 06-13-2017 at 02:33 PM.

  28. The Following 2 Users say Thank You for This Post by t00nces2:


  29. #35
    ryanw's Avatar
    SMF Badges of Honor


    Member since
    Oct 2012
    Location
    TX
    Posts
    1,312
    Thanks
    526
    Thanked 1,290 Times in 648 Posts
    111111
    Last edited by ryanw; 07-26-2022 at 03:59 PM.

  30. The Following User Says Thank You to ryanw for This Post:


  31. #36
    hobo finds's Avatar
    SMF Badges of Honor


    Member since
    Nov 2010
    Location
    tucson, az
    Posts
    4,746
    Thanks
    6,035
    Thanked 5,906 Times in 2,555 Posts

  32. The Following 3 Users say Thank You for This Post by hobo finds:


  33. #37
    hobo finds's Avatar
    SMF Badges of Honor


    Member since
    Nov 2010
    Location
    tucson, az
    Posts
    4,746
    Thanks
    6,035
    Thanked 5,906 Times in 2,555 Posts

  34. The Following 3 Users say Thank You for This Post by hobo finds:


  35. #38
    RLS0812's Avatar
    SMF Badges of Honor

    Member since
    Feb 2014
    Location
    Bucks County Pennsylvania
    Posts
    895
    Thanks
    155
    Thanked 633 Times in 358 Posts
    Folks are very upset that they lost $$$ from gambling ( speculating ) in virtual currency - to the point that these people want guarantees that their "investment" can't lose value.

  36. The Following User Says Thank You to RLS0812 for This Post:


  37. #39
    hobo finds's Avatar
    SMF Badges of Honor


    Member since
    Nov 2010
    Location
    tucson, az
    Posts
    4,746
    Thanks
    6,035
    Thanked 5,906 Times in 2,555 Posts
    Quote Originally Posted by RLS0812 View Post
    Folks are very upset that they lost $$$ from gambling ( speculating ) in virtual currency - to the point that these people want guarantees that their "investment" can't lose value.
    I did hear that a guy bought it on the glitch drop at $.10 and now he has millions as the price corrected itself

  38. The Following User Says Thank You to hobo finds for This Post:


  39. #40
    ryanw's Avatar
    SMF Badges of Honor


    Member since
    Oct 2012
    Location
    TX
    Posts
    1,312
    Thanks
    526
    Thanked 1,290 Times in 648 Posts
    111111
    Last edited by ryanw; 07-26-2022 at 03:59 PM.

  40. The Following User Says Thank You to ryanw for This Post:



  41. Similar threads on the Scrap Metal Forum

    1. Bitcoin Mining Server Board
      By HiTechMike in forum General Electronics Recycling
      Replies: 7
      Last Post: 09-28-2016, 08:11 AM

Page 2 of 6 FirstFirst 1234 ... LastLast

Thread Information

Users Browsing this Thread

There are currently 1 users browsing this thread. (0 members and 1 guests)

 
Browse the Most Recent Threads
On SMF In THIS CATEGORY.





OR

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  

The Scrap Metal Forum

    The Scrap Metal Forum is the #1 scrap metal recycling community in the world. Here we talk about the scrap metal business, making money, where we connect with other scrappers, scrap yards and more.

SMF on Facebook and Twitter

Twitter Facebook