• Welcome to Theos PowerBasic Museum 2017.


Attachments are only available to registered users.
Please register using your full, real name.

Main Menu

Bitcoin - my experiences

Started by Theo Gottwald, November 21, 2013, 07:37:06 AM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

Theo Gottwald

Why is it interesting?
BITCOIN has also to do with Computers. It is virtual "Money" that is generated as hashsums.

Actually 12 Mio. Bitcoins are produced. A maximum of 21 Mio. is possible.
No inflation danger!

Anyway I would say its not money - its not a Coin. Its like Artwork ... somehow like a Picture from Picasso or like that.
The value is there because people pay for it.
But anyway what is the EUR? IS also Artwork. The difference is the value.

2010 you could have bought "5000 Bitcoins" für  around $20.
TODAY 1 Bitcoin is about $600.

A person from Norway bought some BitCoins at this time and remembered some weeks before.
He was Millionaire overnight.

Does it have any real value? Does a Picasso have a real value?
The value comes from that people use it for paying and deal with it.
And people buy it and sell it in banks. Somehow like stocks.

Self Minning?
In earlier days, people could use their home-computers to generate their own Bitcoins.
Today this is not more possible. Even the GPU is much to slow.
They actually use ASIC Hardware that makes thousands of GHs per second (Giga Hash per second).
You can buy such hardware here.

How can sou take part?
Yes, its a success story, and with the inflation of the paper money, also the electronic currencies will get their friend.
Its not my opinion, you can see it how high the price for 1 Bitcoin is. And you can sell it anytime.
In this way its like money. You can exchange it here: www.bitcoin.de or http://www.bitcoin.com/

An interesting way is to participate by getting a share in "BitCoin Manufacruring".
This way people will produce constantly Bitcoins for you.

Buy and sell Bitcoins

Even 1 just one Bitcoin, that is at this time sold for 500 EUR can be 1 Mio. US$ or other future currencies in a few years.
Its just a "connect the points" game. Take the History and connect the points.
Get YOUR part today.

Anyway, think about getting a part of a Bitcoin and
just let it be there for a year or two and then look back and remember me.

Aslan Babakhanov

Mine tested with 4 head ATI GPU card and generated 1 BT per 2 days.
I think, distributed GPU network might do some job... maybe in future?

Theo Gottwald

Do you still have them, Aslan?
They are worth $1000 right now ... you can sell them any time.
Currently i can give you an example from LTC (LightCoin) thats another sort of "Bitcoin" which is more CPU intensive to calculate. It can however be exchanged into Bitcoin.

My actual "NVIDIA 560 Ti" makes about 85 kHs (KiloHashes) per Second.
The actual Top_Runner computer makes 120.000 Khs per second and earns with this 119 LTC per day. The current LTC/Bitcoin exchange rate is 0.01357 BTC per LTC. This means the machine generates about $900 per day. While mine will just generate about 6 Cent ...
Thats because ATI Cards are ways ahead to NVIDIA about HASH calculations.

Actual virtual coin exchange rates

Aslan, take your two bitcoins and join here:

Thats better then selling. Let them work for you.
PS: Tell me when you have joined, then i tell you the next step.

Aslan Babakhanov

Charles Pegge

I suspect the Bitcoin market is vulnerable to price manipulation - for instance, indirect purchase of own bitcoins at a high price to inflate the perceived market value.

Theo Gottwald