Talking stocks, trading, and investing in general

amerikajinda · Nov 27, 2013

I read an article a few months back about some guy who put ALL his money (even maxed out his credit cards) into Bitcoin... Wonder if he's cashed out yet or whether he's going to ride it all the way down to nothing.

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idfnl · Nov 27, 2013

I would never touch it because its too hard to judge if it has any legs or not.

It very well many, but its too risky.

otc · Nov 27, 2013

The key would not be people who threw some money at it early on.

It would be the kids who thought it sounded cool and started mining early on. Mining is pretty hard these days (you need specialized hardware to be truly effective), but way back when, mining with a normal CPU would generate a few coins...if you got a GPU based setup going early on (on your gaming rig, using mom and dad or the dorm's electricity so you didn't care about running at 100% 24/7), you could have built up some decent coins.

I wish I had done some mining, but I thought it sounded dumb. Probably would have sold during one of the early bubbles though...

cdubyee · Nov 27, 2013

Anyone have a good day trading service to recommend? Realized way too long that Schwab and Scotrade are no bueno for any kind of quick trades, or trades in general ($7 a pop is not fun to stomach).

GreenFrog · Nov 27, 2013

Liquidity ******* dried up because everyone's heading out for holiday travels.

No good for me

.

NOT ENOUGH VOLATILITY!!

stevent · Nov 27, 2013

cdubyee said:
Anyone have a good day trading service to recommend? Realized way too long that Schwab and Scotrade are no bueno for any kind of quick trades, or trades in general ($7 a pop is not fun to stomach).

Interactive brokers is just over $1

amerikajinda · Nov 27, 2013

idfnl said:
I would never touch it because its too hard to judge if it has any legs or not.

It very well many, but its too risky.

found the article! Reddit...

http://www.reddit.com/r/Bitcoin/com...ire_retirement_and_savings_invested/?sort=top

cdubyee · Nov 27, 2013

stevent said:
Interactive brokers is just over $1

Wow that's great-n thanks stevent. Are there limitations to how soon I can sell after I buy? I primarily use Schwab right now and I have to wait 3 days or something if I want to trade it again.

amerikajinda · Nov 27, 2013

otc said:
The key would not be people who threw some money at it early on.

It would be the kids who thought it sounded cool and started mining early on. Mining is pretty hard these days (you need specialized hardware to be truly effective), but way back when, mining with a normal CPU would generate a few coins...if you got a GPU based setup going early on (on your gaming rig, using mom and dad or the dorm's electricity so you didn't care about running at 100% 24/7), you could have built up some decent coins.

I wish I had done some mining, but I thought it sounded dumb. Probably would have sold during one of the early bubbles though...

Sorry to be dense, but what does "mining" mean? What exactly is mining for bitcoins?

amerikajinda · Nov 27, 2013

Ok now I'm even more confused:

[VIDEO][/VIDEO]

idfnl · Nov 27, 2013

stevent said:
Interactive brokers is just over $1

This is the correct answer.

otc · Nov 27, 2013

It's too late to get into bitcoin mining (well maybe I shouldn't say that...it was "too late" to get into it a while ago, but at current values, some moderate mining last year would have been worthwhile). You might be able to more than cover your electric bill, but without an ASIC miner, I don't think you are going to make any real money with it.

Still though, there have to be some kids who are seniors in college now who heard about bitcoin back in 2009. They might have switched their computers that were previously looking for aliens (SETI@Home)/searching for prime numbers (GIMPS)/folding protein models (folding@home) into bitcoin mining. Decent computers (and later, decent video cards) could mine early coins at a pretty decent clip and some of those kids might have paid for college if they held on. Nowadays, you probably have to join a mining coop where anything you do find is split based on the amount of effort you put in.

amerikajinda · Nov 28, 2013

otc said:
It's too late to get into bitcoin mining (well maybe I shouldn't say that...it was "too late" to get into it a while ago, but at current values, some moderate mining last year would have been worthwhile). You might be able to more than cover your electric bill, but without an ASIC miner, I don't think you are going to make any real money with it.

Still though, there have to be some kids who are seniors in college now who heard about bitcoin back in 2009. They might have switched their computers that were previously looking for aliens (SETI@Home)/searching for prime numbers (GIMPS)/folding protein models (folding@home) into bitcoin mining. Decent computers (and later, decent video cards) could mine early coins at a pretty decent clip and some of those kids might have paid for college if they held on. Nowadays, you probably have to join a mining coop where anything you do find is split based on the amount of effort you put in.

I still don't understand the concept of mining. Can anybody explain it in simple terms please?

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idfnl · Nov 28, 2013

amerikajinda said:
I still don't understand the concept of mining. Can anybody explain it in simple terms please?

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Solve math problems, get money.

GreenFrog · Nov 28, 2013

I wish the markets were open today... :angry:

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