Interesting new money

[perfor8]

$50,000

 

[tRidiot]

I am looking into it now... with my new gaming rig, I can make it profitable. Thinking of mining ETH, I have a lot to learn, but several guys on another forum I frequent have been doing it for years and have made some money. I'm thinking it's worth a shot.

Wish I'd gotten into it years ago, I remember when BTC was newbie stuff. There are literally dozens if not hundreds of options now in types of cryptocoins to "mine".

 

[HoLeChit]

I’m kicking myself. I remember looking at Bitcoin when it was work $100. Had a spare grand, wanted to get some, figured I would t see enough profit for it to be worth my time, didn’t wanna learn how to set up a wallet. Now, several years later, went to buy some when it was at 7k recently. Transfer took too long and I forgot about it. Ended up buying $1500 worth while it’s worth 17k, and I’m kicking myself.

 

[swampratt]

My son bought 100 bit coins for $1 each and bought Pizza with them.
Told me to get some I said NO ..His friend got 100 of them, spent some then forgot his pass word.

Hindsight ya know.

 

[Snattlerake]

Many years ago, when bitcoin was just breaking into public notice, I installed the bitcoin wallet and back then there was a public bitcoin faucet where you could receive .05 bitcoin for free.
It was a way to publicize the cryptocurrency and make ordinary people feel like they had something interesting to watch.

At the time when bitcoin was worth only a few dollars that .05 bitcoin had a value of a few cents.
Today, at almost $35,000 per, that same .05 bitcoin is worth roughly $1,700.
It's a shame I didn't backup and preserve my bitcoin wallet.
It was lost during one of my computer upgrades; I probably wasn't interested in a file worth less than a dollar.

I had a stack of old harvested hard drives from all the computers I had gone through. I drilled all of them with my 1/4 inch drill last year and pitched them. Funny thing is I do remember getting 1 bitcoin back when it started and had a password about a mile long. Oh well.

 

[SoonerP226]

His friend got 100 of them, spent some then forgot his pass word.

Leo and Steve from the Security Now podcast are in the same boat. Steve got started with Bitcoin in its very early days as a technical curiosity (basically, so he could explain it to the podcast's listeners), and his computer "mined" 50 Bitcoin one night. He subsequently forgot that his "wallet" was on it and securely erased the drive.

Leo had some Bitcoin, as well. Technically, he still has it, but he's forgotten the password. Every now and then, they'll cover a cryptocurrency story and Leo will tell Steve how much their Bitcoin wallets would be worth if they still had access to them...

 

[perfor8]

$60,000

 

[tRidiot]

yup, 61k today.

I finally got on board, my new machine is currently mining Ethereum, which is running about $1900 per right now. It's gonna take a while, but... Hey, gotta start the empire somewhere.

 

[dennishoddy]

I don't understand this "mining". Anybody willing to explain how this works?

 

[tRidiot]

You remember SETI?

You set up your computer to run when you're not using it, it decodes data and shares it over the web, along with thousands of others, you get 'credit' for it, and it's electronic currency, can be bought and sold on a marketplace where people pay real money for it. you pay for the electricity and the 'cycles' your hardware is running.

Low end, older hardware doesn't earn much - a few cents a day. High end, new hardware can earn a few bucks a day.