If you can read this, either the style sheet didn't load or you have an older browser that doesn't support style sheets. Try clearing your browser cache and refreshing the page.

(Daily Express)   Kim Jong-Un will profit off of Bitcoin rather handsomely (possible nsfw content on page)   ( express.co.uk) divider line
    More: Creepy, North Korea, North Korean hackers, Korean War, digital currency, South Korea, Pyongyang, Korean language, Korea  
•       •       •

6297 clicks; posted to Main » on 13 Dec 2017 at 8:10 AM (30 weeks ago)   |   Favorite    |   share:  Share on Twitter share via Email Share on Facebook   more»



66 Comments     (+0 »)
 
View Voting Results: Smartest and Funniest


Oldest | « | 1 | 2 | » | Newest | Show all

 
2017-12-13 07:19:18 AM  
off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?
 
2017-12-13 08:07:43 AM  
I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.
 
2017-12-13 08:18:07 AM  
North Korea has been printing counterfeit US currency for decades, and they have been printing enough to impact the value of US dollar itself. If they can mine Bitcoin more cheaply than printing fake greenbacks then it's a win for everyone, IMHO.
 
2017-12-13 08:19:47 AM  

fragMasterFlash: North Korea has been printing counterfeit US currency for decades, and they have been printing enough to impact the value of US dollar itself. If they can mine Bitcoin more cheaply than printing fake greenbacks then it's a win for everyone, IMHO.


But think of the libertarians!
 
2017-12-13 08:29:51 AM  

Shakin_Haitian: fragMasterFlash: North Korea has been printing counterfeit US currency for decades, and they have been printing enough to impact the value of US dollar itself. If they can mine Bitcoin more cheaply than printing fake greenbacks then it's a win for everyone, IMHO.

But think of the libertarians!


Why should I?  It's not in my rational self interest to do so.
 
2017-12-13 08:33:16 AM  

colinspooky: off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?


"Gotten" has been around for at least 400 years. Not sure why you'd think it's misbegotten.

/get off of my cloud
 
2017-12-13 08:36:50 AM  

Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.


I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.
 
2017-12-13 08:40:28 AM  
He will just spend the profits on Zingers and high dollar Scotch.
 
2017-12-13 08:42:38 AM  

Monkeyfark Ridiculous: colinspooky: off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?

"Gotten" has been around for at least 400 years. Not sure why you'd think it's misbegotten.

/get off of my cloud


Not over here, it hasn't
 
2017-12-13 08:43:36 AM  

colinspooky: off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?


You are from the UK, where a sizable chunk of your population has managed to bastardize your language more than Americans ever have.
 
2017-12-13 08:44:29 AM  

colinspooky: Monkeyfark Ridiculous: colinspooky: off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?

"Gotten" has been around for at least 400 years. Not sure why you'd think it's misbegotten.

/get off of my cloud

Not over here, it hasn't


Innit?

Or do you use annit for past tense?
 
2017-12-13 08:46:26 AM  

colinspooky: off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?


We 'get it' when its written and we don't care as long as it conveys meaning to us.  That's how it happens.
 
2017-12-13 08:48:00 AM  
img.fark.netView Full Size

Big Hat #1 Does Dear Leader know he is playing Sonic and those are not bitcoins that he is harvesting?
Big Hat #2 Do you want to stand in front of anti aircraft gun?
Big Hat #1 No.
Big hat #2  Then assist me in cheering on Dear Leader's harvest of bitcoins.
Big Hat #1  Yeah, Dear leader.  Get those bitcoins.  Go super fast through the loop de loops.  Watch out for agents of American Imperialism.  They will try and stop you and swipe your bit coins away!
 
2017-12-13 08:48:34 AM  
Ah, The Express. I now doubt the existence of Bitcoin, and Korea.
 
2017-12-13 08:48:41 AM  
http://grammarist.com/usage/got-gotte​n​/

This says gotten predates the United States, as does wiki.

Piss off you wanker pillock, and go eat a bacon butty with some crisps or something.

:)
 
2017-12-13 08:48:48 AM  

This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.


Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.
 
2017-12-13 08:52:43 AM  

Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.


A thing's intrinsic value is not necessarily equal to its production cost.

I do hope I don't need to explain why in further detail.
 
2017-12-13 08:53:58 AM  
There are reports of a Best Korean AN-2 Colt landing near a London landfill with Best Korean soldiers deploying and digging through the landfill looking for a hard drive and possibly some lunch that 'isn't too far gone'.
Residents are advised to stay away from the area.  And under no circumstance are they to approach the area with fish and chips or even eel pie.  The Army has been alerted and is en-route.  They should be there in a fortnight or sooner if they take the metro or use trucks.
 
2017-12-13 08:55:31 AM  

colinspooky: Monkeyfark Ridiculous: colinspooky: off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?

"Gotten" has been around for at least 400 years. Not sure why you'd think it's misbegotten.

/get off of my cloud

Not over here, it hasn't


Well when you finally get Shakespeare and the KJV Bible over there you're in for a treat.
 
2017-12-13 08:56:29 AM  

Smackledorfer: Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.

A thing's intrinsic value is not necessarily equal to its production cost.

I do hope I don't need to explain why in further detail.


So... what then is the intrinsic value of Bitcoin?
 
2017-12-13 08:57:21 AM  
img.fark.netView Full Size
 
2017-12-13 09:03:59 AM  

Harry Freakstorm: [img.fark.net image 850x478]
Big Hat #1 Does Dear Leader know he is playing Sonic and those are not bitcoins that he is harvesting?
Big Hat #2 Do you want to stand in front of anti aircraft gun?
Big Hat #1 No.
Big hat #2  Then assist me in cheering on Dear Leader's harvest of bitcoins.
Big Hat #1  Yeah, Dear leader.  Get those bitcoins.  Go super fast through the loop de loops.  Watch out for agents of American Imperialism.  They will try and stop you and swipe your bit coins away!


Send him Sonic Forces.  Maybe getting to be Sonic's bestie will help him calm down.

Just don't send him Sonic '06...
 
2017-12-13 09:08:33 AM  

Tr0mBoNe: Smackledorfer: Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.

A thing's intrinsic value is not necessarily equal to its production cost.

I do hope I don't need to explain why in further detail.

So... what then is the intrinsic value of Bitcoin?


Probably zero.

Consider gold. One could say it has extrinsic value equal to what it trades at. But is its intrinsic value its cost to mine? Of course not. It would be the actual value it adds via usefulness at any given time as a conductive, non-corrosive metal.

If I start my own blockchain and run it for a decade, do smacklecoins go up in value? Absolutely not.

The value of a Zimbabwe physical dollar can never really fall below the paper it is printed on + whatever processing might be necessary to retool it. World of Warcraft gold will someday be worth zero if people stop playing the game.

Crypocurrency is a neat thing and I'm not some complete hater who would claim they are currently worthless, fwiw.
 
2017-12-13 09:12:39 AM  
Dictator to become wealthier, news at 11.
 
2017-12-13 09:15:30 AM  

colinspooky: off of?   I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?


Comrade Subby's English is pretty good considering it's not his first language.
 
2017-12-13 09:15:41 AM  
Is a size 30 boot crafted from from the finest leather made from genetically recreated mammoths who are masturbated daily by virgins and fed the most expensive of celebrity chef prepared meals intrinsically worth the cost to create it?

The answer of course is no. Thus my original statement, and the incorrectness or your assumption upthread.
 
2017-12-13 09:20:16 AM  
And consider any other processed or mined good. Surely you wouldn't claim the intrinsic value of a barrel of oil equals extraction cost. That would mean two identical barrels of oil extracted from different locations are worth different amounts.
 
2017-12-13 09:23:27 AM  

Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.


I think eventually it has to collapse.  A currency, any currency, only has value as long as the populace believes it has value. From time to time pretty much any currency has slumps due to events.  What gets them through them is the vested interest of someone, these days a government, who will do whatever they need to to prop up the value of the currency. That gives people confidence that someone will step in to prevent a complete crash. Just like there is federal insurance on bank deposits that prevent runs on banks.   Who stands behind Bitcoin? Nobody. Hell they don't even know really who made it.  The only thing that can save it is Automatic trading algorithms. They'll jump in at their programmed levels to buy a ton of bitcoins just because it dropped x percent in x amount of time.  But eventually there will be a dip big enough that those atms will start to run out of money to buy bitcoins, surpassed their safeties, or the people behind them will hit the panic switch.  The atms will go wide and them nothing will stop the free fall.
 
2017-12-13 09:23:34 AM  

Harry Freakstorm: [img.fark.net image 850x478][View Full Size image _x_]


I've always been under the impression they are all patiently waiting to pick the next hilarious Youtube video to show Dear Leader.
 
2017-12-13 09:58:55 AM  
As long as North Korea holds significant amounts of Bitcoin they are much less likely to try and nuke or EMP attack the US. Bitcoins only have value for as long as the blockchain remains operational and disrupting US infrastructure would go a long way towards crippling it. So Bitcoin miners are basically doing more to ensure global stability than Donald Trump ever will.
 
2017-12-13 09:59:38 AM  
i.ytimg.comView Full Size

Kim Jong-Un, when the bubble popped.
 
2017-12-13 10:02:30 AM  

Monkeyfark Ridiculous: /get off of my cloud


Hi, hello, how are you?
 
2017-12-13 10:06:04 AM  
Look, it's our daily media reason to take out NK.
 
2017-12-13 10:11:43 AM  
Anyone with enough computers can make money from mining bitcoin.  That's the entire point of crypto, it is not tied to any government.  China is also making a ton of money from mining coins.  It's just distributed computing.

The people losing money on bitcoin are idiots paying cash to buy it on an exchange.
 
2017-12-13 10:13:43 AM  

Shakin_Haitian: fragMasterFlash: North Korea has been printing counterfeit US currency for decades, and they have been printing enough to impact the value of US dollar itself. If they can mine Bitcoin more cheaply than printing fake greenbacks then it's a win for everyone, IMHO.

But think of the libertarians!


That's what they get for investing in fiat currency.
 
2017-12-13 10:19:13 AM  

Smackledorfer: Tr0mBoNe: Smackledorfer: Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.

A thing's intrinsic value is not necessarily equal to its production cost.

I do hope I don't need to explain why in further detail.

So... what then is the intrinsic value of Bitcoin?

Probably zero.

Consider gold. One could say it has extrinsic value equal to what it trades at. But is its intrinsic value its cost to mine? Of course not. It would be the actual value it adds via usefulness at any given time as a conductive, non-corrosive metal.

If I start my own blockchain and run it for a decade, do smacklecoins go up in value? Absolutely not.

The value of a Zimbabwe physical dollar can never really fall below the paper it is printed on + whatever processing might be necessary to retool it. World of Warcraft gold will someday be worth zero if people stop playing the game.

Crypocurrency is a neat thing and I'm not some complete hater who would claim they are currently worthless, fwiw.


by your reasoning the USD could theoretically be worth the SAME as the actual paper it's printed on also. A penny would have more instrinsic value the the $100 bill.
 
2017-12-13 11:05:15 AM  
Fark. Arguing pedantic points and impossible ideal-condition scenarios with self-righteous furor since before "gotten" was a thing.
 
2017-12-13 11:06:06 AM  
The university said: "Many excellent technical questions were asked about the inner working of bitcoin, its risks, and the measures taken to ensure security."

"What are Bitcoin 's greatest vulnerabilities and how could a hacker best exploit them?"
 
2017-12-13 11:08:44 AM  

Promo Sapien: Fark. Arguing pedantic points and impossible ideal-condition scenarios with self-righteous furor since before "gotten" was a thing.


Fark predates the US?

;)
 
2017-12-13 12:02:32 PM  

colinspooky: Monkeyfark Ridiculous: colinspooky: off of? I know language evolves, but please don't let this become so commonplace it is accepted. Like 'gotten' - how did that happen?

"Gotten" has been around for at least 400 years. Not sure why you'd think it's misbegotten.

/get off of my cloud

Not over here, it hasn't


Says the guy who can't spell 'color' correctly
 
2017-12-13 12:06:50 PM  
Where will you be when the Bitcoin crashes.
 
2017-12-13 01:01:07 PM  

stuffy: Where will you be when the Bitcoin crashes.


The only question is what multiple of what we bought it at will it crash to.
 
2017-12-13 01:38:24 PM  

SuperNinjaToad: Smackledorfer: Tr0mBoNe: Smackledorfer: Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.

A thing's intrinsic value is not necessarily equal to its production cost.

I do hope I don't need to explain why in further detail.

So... what then is the intrinsic value of Bitcoin?

Probably zero.

Consider gold. One could say it has extrinsic value equal to what it trades at. But is its intrinsic value its cost to mine? Of course not. It would be the actual value it adds via usefulness at any given time as a conductive, non-corrosive metal.

If I start my own blockchain and run it for a decade, do smacklecoins go up in value? Absolutely not.

The value of a Zimbabwe physical dollar can never really fall below the paper it is printed on + whatever processing might be necessary to retool it. World of Warcraft gold will someday be worth zero if people stop playing the game.

Crypocurrency is a neat thing and I'm not some complete hater who would claim they are currently worthless, fwiw.

by your reasoning the USD could theoretically be worth the SAME as the actual paper it's printed on also. ...


Yes, welcome to the wonderful world of economics. In many ways it is the greatest con-game ever played.
 
2017-12-13 02:02:59 PM  

Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.


That cost to mine bitcoin is not fixed.

The bitcoin puzzle difficulty can be changed and it could easily cost 10 to 100 times more.

As the value of bitcoin rises, it will cost more to mine bitcoin because more computers and equipment is added to mine bitcoin.
 
2017-12-13 02:07:23 PM  

captjc: SuperNinjaToad: Smackledorfer: Tr0mBoNe: Smackledorfer: Tr0mBoNe: This Face Left Blank: Tr0mBoNe: I highly doubt anyone who hasn't already profited from bitcoin investments will do so in the future.

I think it has a few more crashes and booms left.  I wouldn't put much on it (because I'm poor and I'm risk-adverse), but I figure it will boom and bust some more.  At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.  Volatility has a value of it's own - just not a long-term value.

Trust me, I'm a random guy on the internet.

Wash trading is also illegal in most areas, but that doesn't stop them from using it to pump up trading volume. The intrinsic value of bitcoin is around $2000/coin as that's the approximate mining cost of one coin plus a nice profit for the miner. I could see things settling around that level, but it's entirely possible it won't matter - all of the exchanges could go away or be blocked where you live.

A thing's intrinsic value is not necessarily equal to its production cost.

I do hope I don't need to explain why in further detail.

So... what then is the intrinsic value of Bitcoin?

Probably zero.

Consider gold. One could say it has extrinsic value equal to what it trades at. But is its intrinsic value its cost to mine? Of course not. It would be the actual value it adds via usefulness at any given time as a conductive, non-corrosive metal.

If I start my own blockchain and run it for a decade, do smacklecoins go up in value? Absolutely not.

The value of a Zimbabwe physical dollar can never really fall below the paper it is printed on + whatever processing might be necessary to retool it. World of Warcraft gold will someday be worth zero if people stop playing the game.

Crypocurrency is a neat thing and I'm not some complete hater who would claim they are currently worthless, fwiw.

by your reasoning the USD could theoretically be worth the SAME as the actual paper it's p ...


does that mean that if I rob a bank vault (FDIC insured of course) when no one is there I'm actually a good guy? conning the con game if you will.
 
2017-12-13 02:15:12 PM  

jjorsett: The university said: "Many excellent technical questions were asked about the inner working of bitcoin, its risks, and the measures taken to ensure security."

"What are Bitcoin 's greatest vulnerabilities and how could a hacker best exploit them?"


Bitcoin itself has the Goldfinger attack.

If you had enough computational power to control about 51% of the hash power, you could make Bitcoin worthless by completely breaking the consensus protocol. No bitcoin transactions would be possible and so bitcoin would be worthless.

The other huge attack is the secret key. If you know the secret key of the bitcoin address, you have full control over all the funds there. Even if the original owner found out that you have seen the secret key, there is nothing they can do to reverse any of the transactions.

One very common attack is to get the phone company to switch to another phone not owned by you (the hard part; lots of social engineering required). Most two factor authentication of e-mails, bank accounts etc use phone number to verify that you lost your password. The attacker can get into your accounts and once a bitcoin transaction happens then its gone.
 
2017-12-13 02:15:25 PM  

degenerate-afro: Anyone with enough computers can make money from mining bitcoin.  That's the entire point of crypto, it is not tied to any government.  China is also making a ton of money from mining coins.  It's just distributed computing.

The people losing money on bitcoin are idiots paying cash to buy it on an exchange.


Only if you bought years ago when it was with nothing.

I wish i did, I would have used it to buy gold and switch when I could. Another missed opportunity.
 
2017-12-13 02:22:20 PM  

degenerate-afro: Anyone with enough computers can make money from mining bitcoin.  That's the entire point of crypto, it is not tied to any government.  China is also making a ton of money from mining coins.  It's just distributed computing.

The people losing money on bitcoin are idiots paying cash to buy it on an exchange.


Mining is barely profitable.

First mining bitcoins hasn't been economical with computers for a long time. The cost of electricity is higher using computers than the bitcoin it will generate (not considering future increases in value of bitcoin).

The only economical way is to make custom chips that are made in China. Also then they will put the price of the mining device just a tad below the profit expected from it. So, the profit from mining it yourself is razor thin. If not, then the manufacturer would themselves just mine it rather than sell you the hardware.

The only reason anyone has ever made money is because they had bitcoin which went up in value thousand fold.

So, you barely make money mining and you have to deal with shady Chinese companies, run these things in your hours and account for the electricity prices.

A sane person would just spend what they do on mining hardware to buy bitcoins. It is easier and has almost the same result.

There are other coins that can only be mined on computers but not bitcoin.
 
2017-12-13 02:36:02 PM  

HumanSVD: degenerate-afro: Anyone with enough computers can make money from mining bitcoin.  That's the entire point of crypto, it is not tied to any government.  China is also making a ton of money from mining coins.  It's just distributed computing.

The people losing money on bitcoin are idiots paying cash to buy it on an exchange.

Only if you bought years ago when it was with nothing.

I wish i did, I would have used it to buy gold and switch when I could. Another missed opportunity.


There are plenty of coins that are worth next to nothing. Would you buy some? I'm sure some of them will go thousand fold up but which one?

It's all just gambling. It always looks obvious in the past but it's next to impossible to predict in the future.
 
2017-12-13 02:39:35 PM  

This Face Left Blank: At some point, ppl are gonna cash out on the current boom and buy into another coin, ride THAT wave, then rinse and repeat.


And that's when the value of Dogecoin will go to the moon!

/the future belongs to meme based currency
//can grumpycoin be far behind?
///googles... oh, it already exists... and is worth virtually zero
 
Displayed 50 of 66 comments


Oldest | « | 1 | 2 | » | Newest | Show all


View Voting Results: Smartest and Funniest

This thread is archived, and closed to new comments.

Continue Farking

On Twitter





Top Commented
Javascript is required to view headlines in widget.
  1. Links are submitted by members of the Fark community.

  2. When community members submit a link, they also write a custom headline for the story.

  3. Other Farkers comment on the links. This is the number of comments. Click here to read them.

  4. Click here to submit a link.

Report