CryptoCurrency (I.E. BitCoin)

 
prophead
Member
Posts: 25
Joined: Tue. Dec. 28, 2010 8:48 am
Location: Lebanon, Pa
Stoker Coal Boiler: Gentleman Janitor GJ-61
Coal Size/Type: Buckwheat

Post by prophead » Tue. Feb. 27, 2018 10:42 am

What does everyone think of the BitCoin hype over the last few months/Year? Is Cryptocurrency a fad or here to stay?

Cryptocurrency was something I never paid much attention to, but with all the hype over the last few months have been attempting to educate myself a little bit. In the process I came across JSECoin which I find rather intriguing.

https://platform.jsecoin.com/?lander=2&utm_source ... m_content=

Thoughts?


 
grumpy
Member
Posts: 12790
Joined: Sat. Jan. 02, 2010 12:28 am

Post by grumpy » Tue. Feb. 27, 2018 11:10 am

It's here to stay, some of them anyway. I stopped at anyone can mine, you need the hardware, the time and the money.

 
User avatar
Freddy
Member
Posts: 7310
Joined: Fri. Apr. 11, 2008 2:54 pm
Location: Orrington, Maine
Stoker Coal Boiler: Axeman Anderson 130 (pea)
Coal Size/Type: Pea size, Superior, deep mined

Post by Freddy » Tue. Feb. 27, 2018 11:39 am

I'd be some bummed out if I bought 8 or 10 bitcoins at $20,000. It's close to half that today. How do they think that kind of volatility can be used as any form of payment?

 
User avatar
freetown fred
Member
Posts: 30324
Joined: Thu. Dec. 31, 2009 12:33 pm
Location: Freetown,NY 13803
Hand Fed Coal Stove: HITZER 50-93
Coal Size/Type: BLASCHAK Nut

Post by freetown fred » Tue. Feb. 27, 2018 11:47 am

Freddy, "THEY" don't give a damn. Hell, "THEY" got enough suckers to be sittin back laughin!!!!!!!!!!!

 
prophead
Member
Posts: 25
Joined: Tue. Dec. 28, 2010 8:48 am
Location: Lebanon, Pa
Stoker Coal Boiler: Gentleman Janitor GJ-61
Coal Size/Type: Buckwheat

Post by prophead » Tue. Feb. 27, 2018 12:02 pm

I stopped at anyone can mine, you need the hardware, the time and the money.
Thats what intrigued me so much about this one. It's designed from the ground up to be mined by browsers, with a limit on the hash rate, only one machine per IP address allowed to mine Etc. I figured I had nothing to lose so I signed up for an account and mined 1.59 coins since Friday (02-23-18) just by leaving my browser mine while I was at work.

The idea is to allow web masters to replace advertising with mining. This has been tried before without much success, but this is the first one (I believe) that was built from the ground up for that purpose.

Time will tell...but I think it looks promising.

 
grumpy
Member
Posts: 12790
Joined: Sat. Jan. 02, 2010 12:28 am

Post by grumpy » Tue. Feb. 27, 2018 12:10 pm

So your mining the JSE coin? I cant find it anywhere, whats it worth ?
Last edited by grumpy on Tue. Feb. 27, 2018 12:40 pm, edited 1 time in total.

 
prophead
Member
Posts: 25
Joined: Tue. Dec. 28, 2010 8:48 am
Location: Lebanon, Pa
Stoker Coal Boiler: Gentleman Janitor GJ-61
Coal Size/Type: Buckwheat

Post by prophead » Tue. Feb. 27, 2018 12:34 pm

It would be JSE Coin.... Its not listed on any of the exchanges yet. They are planning to list this year. Maybe I'm a sucker, but I figure it doesn't cost me anything to mine, and IF when it lists the speculators get on it, maybe I'll actually gain something. :yes:


 
grumpy
Member
Posts: 12790
Joined: Sat. Jan. 02, 2010 12:28 am

Post by grumpy » Tue. Feb. 27, 2018 12:41 pm

Well good luck, keep us informed..

 
coalnewbie
Member
Posts: 8601
Joined: Sat. May. 24, 2008 4:26 pm
Location: Chester, NY
Hot Air Coal Stoker Stove: LL AnthraKing 180K, Pocono110K,KStokr 90K, DVC
Hand Fed Coal Stove: Invader 2
Baseburners & Antiques: Wings Best, Glenwood #8(x2) Herald 116x
Coal Size/Type: Rice,
Other Heating: Heating Oil CH, Toyotomi OM 22

Post by coalnewbie » Tue. Feb. 27, 2018 2:16 pm

Sorry, game set and match to the Rothschilds..

https://www.coindesk.com/coinbase-tells-13000-use ... o-the-irs/

 
User avatar
BigBarney
Member
Posts: 2136
Joined: Wed. Feb. 08, 2006 2:48 pm

Post by BigBarney » Tue. Feb. 27, 2018 11:12 pm

All Fiat currencies have failed since they were used. This will be no different.

Our constitution says that all currency has to be gold or silver in specific

values and up to 1972 bills could be exchanged for silver or gold coins ,

no more. Gold and silver really do not move in price , only the fiat

currency go up and down , because they are affected by inflation.

Silver coins pre 1964 are worth $1200-$1300 per $100 face , so the

value in ~53 years has gone down 12-13 times.



This explains money and currency are two different things.

Crypto's could never be either.


BigBarney

 
coalnewbie
Member
Posts: 8601
Joined: Sat. May. 24, 2008 4:26 pm
Location: Chester, NY
Hot Air Coal Stoker Stove: LL AnthraKing 180K, Pocono110K,KStokr 90K, DVC
Hand Fed Coal Stove: Invader 2
Baseburners & Antiques: Wings Best, Glenwood #8(x2) Herald 116x
Coal Size/Type: Rice,
Other Heating: Heating Oil CH, Toyotomi OM 22

Post by coalnewbie » Wed. Feb. 28, 2018 5:35 am

Good one BB, but derivatives have made it essential that we keep going for now. DB is on the verge of bringing the house down. The point is govts can control bitcoin just like they did gold.

 
User avatar
BigBarney
Member
Posts: 2136
Joined: Wed. Feb. 08, 2006 2:48 pm

Post by BigBarney » Wed. Feb. 28, 2018 9:01 am

Governments can't control gold it is too dispersed and a small amount

holds a large value in other fiat currencies . People will not give up the one

thing they own that will maintain its buying power no matter what fiat unit

is used anywhere in the world. Easy to store , does not degrade , valued in

every country , what ever could replace it. Currency is for daily use in the

economy , fiat of the day , but your "REAL MONEY" should be in hard assets

that keep pace with inflation like land , metals , houses , etc.

BigBarney

 
User avatar
lsayre
Member
Posts: 21781
Joined: Wed. Nov. 23, 2005 9:17 pm
Location: Ohio
Stoker Coal Boiler: AHS S130 Coal Gun
Coal Size/Type: Lehigh Anthracite Pea
Other Heating: Resistance Boiler (13.5 KW), ComfortMax 75

Post by lsayre » Wed. Feb. 28, 2018 9:20 am

BigBarney wrote:
Wed. Feb. 28, 2018 9:01 am
People will not give up the one thing they own that will maintain its buying power no matter what fiat unit is used anywhere in the world.
They gave it up in 1934. Why wouldn't they do it again?

 
User avatar
BigBarney
Member
Posts: 2136
Joined: Wed. Feb. 08, 2006 2:48 pm

Post by BigBarney » Wed. Feb. 28, 2018 10:24 am

In 1934 some people did give up their gold , but many did not , judged

by the availability of many gold and silver pieces on the market now.

These were held by people , who valued what they had worked for and

would not surrender their life savings to the government at any cost.

How would a government even try to get at this wealth which is real money

because no records are kept on transactions ?

One of the best ways to hold "REAL MONEY" is in the form of junk silver ,

1964 and older silver 90% , easy to buy and sell at any time. You can buy

bags of $50- $1000 face value for the scrap silver 715 oz per $1000 face. You

will pay about $0.25 - $ 1.00 over the spot price at the second of the transaction

per OZ. $1000 of junk silver weighs about 54 pounds.

https://www.huffingtonpost.com/colm-mulcahy/a-pou ... 88962.html

ALL common silver coins are interchangeable in a bag but are usually sold as one denomination

per bag , with most people preffering the larger coins like dollars or halves , and usually at a

slightly higher premium over spot.



BigBarney

 
coalnewbie
Member
Posts: 8601
Joined: Sat. May. 24, 2008 4:26 pm
Location: Chester, NY
Hot Air Coal Stoker Stove: LL AnthraKing 180K, Pocono110K,KStokr 90K, DVC
Hand Fed Coal Stove: Invader 2
Baseburners & Antiques: Wings Best, Glenwood #8(x2) Herald 116x
Coal Size/Type: Rice,
Other Heating: Heating Oil CH, Toyotomi OM 22

Post by coalnewbie » Wed. Feb. 28, 2018 12:42 pm

An investment that has gone precisely nowhere in the last decade. This is despite continual blethering about silver shortages from the "experts" and constantly complaining about JPM manipulation. Just for chit an giggles I phoned Dart coin down the road. I stated I had cash and wanted bags of junk silver. NO problem... GATA is a farce too.


Post Reply

Return to “Technology”