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anzel2002

A few years ago a sound mixer was offered Bitcoin for a job. Bitcoin was worth 600 back then...

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A few years ago a sound mixer was offered Bitcoin for a job.  Bitcoin was worth 600 back then.  Everyone here including OP, mocked, scoffed. and laughed at that offer.  Today Bitcoin is worth 18 Thousand dollars, I don't know if it was a one day job or longer, but now OP is out tens of thousands of dollars, if not $100,000.

 

OP, are you still here? Was just thinking about that situation/you and that offer recently and wanted see if you are here/and remembered that offer from back then, 

 

Just curious, that is all,

 

 

 

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That reminds me about the time I found out that a major pharma company was about to release a drug that would allow a certain appendage to operate like it used to when a man was younger.  I had $16K in my pocket.  I was a young man and my thing worked just fine, so I didn't get what the fuss was about.  I bought a sports car.

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Ok fair but until I can pay my rent in bitcoins, or pay for groceries in bitcoins, I still think the OP was correct in holding out for other currency. 

 

We're not in this business to speculate - if we wanted to do that we can always play the stock market or invest in bitcoins in our own time. We do work, and expect to get paid a fair wage in hard currency.

 

-Mike

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You make the assumption that the mixer would have sat on that bitcoin until this day.  I'm sure he tried to find a way to convert it to legal tender as soon as he received it.  Just like I spend the money I make today to pay my bills.

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2 hours ago, Tom Visser said:

That reminds me about the time I found out that a major pharma company was about to release a drug that would allow a certain appendage to operate like it used to when a man was younger.  I had $16K in my pocket.  I was a young man and my thing worked just fine, so I didn't get what the fuss was about.  I bought a sports car.

haha brilliant !! - Zen master Visser

 

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Buying and selling Bitcoin is simply speculating, like buying and selling Gold, or classic cars, or fine wine, or houses, or stocks. The idea, of course, is to buy cheap and sell high, so I wouldn't even consider buying BTC at $18k or anywhere near that amount.

 

Mining for crypto currencies is a whole different ballgame. It is a very 'interesting' scenario, and at present it has potential to both make and lose quite significant amounts. Be warned though - the miner computers are super loud, and kick out a lot of heat, oh.. and they use a LOT of power.

 

Regards to all, Simon B

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3 hours ago, Bash said:

Buying and selling Bitcoin is simply speculating, like buying and selling Gold, or classic cars, or fine wine, or houses, or stocks. The idea, of course, is to buy cheap and sell high, so I wouldn't even consider buying BTC at $18k or anywhere near that amount.

 

Mining for crypto currencies is a whole different ballgame. It is a very 'interesting' scenario, and at present it has potential to both make and lose quite significant amounts. Be warned though - the miner computers are super loud, and kick out a lot of heat, oh.. and they use a LOT of power.

 

Regards to all, Simon B

Yep.

CrewC

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That could very well be true, Jay. But I read somewhere that this is the fifth time this year it has had a big drop like this. Still it’s up over 1400% from one year ago. Futures are apparently now available and some are betting it will go to $50,000 next year.

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IIRC, there's a "mystery" investor or group who bought about $1,000,000 worth of options contracts with the call at $50,000.

 

Could be someone really optimistic, or could be someone like the Winklevoss twins (who hold nearly(?) a billion dollars worth of Bitcoins) hoping to create the impression that Bitcoin is a good investment...so please don't sell! 

 

But I have no idea.

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On 12/19/2017 at 1:22 PM, Bash said:

Mining for crypto currencies is a whole different ballgame. It is a very 'interesting' scenario, and at present it has potential to both make and lose quite significant amounts. Be warned though - the miner computers are super loud, and kick out a lot of heat, oh.. and they use a LOT of power.

 


Can be quite luctrative if you have access to free power ;-)

I've heard tales of system admins at schools mining on all the school's PCs nonstop over the holidays and making bank. 

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Mining on school PCs is unlikely to do very well as their individual hashrate is going to be so slow, but... I guess if you direct some hundreds of PCs at it and pool any results then you might have a chance. I'd be interested to know the hashrate of a standard lowish spec school PC vs an S9 or similar? In fact - a quick search tells me an average PC might get 1-100MHs, vs an S9 at 14THs. You would need an awful lot of school PCs to make it worthwhile losing your job over ;-) sb

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Oh for sure, this was back in the early days of Bitcoin (before GPU mining became essential, which was even before ASIC mining took over).

Though was still somewhat doable later on with some of the other alt-coins which placed more reliance on CPU mining instead.

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