Bitcoin is an innovative payment network and a new kind of money.

[Num7]

The banks will probably make sure they don't miss the boat next time!

 

[TimeWizardCosmo]

I actually built a mining rig a few months ago... About 3.5Mh/s or so (Scrypt mining though; I trade my Scrypt based coins for BTC). One month I netted over $100 (after electricity costs) and it's been going strong ever since.

Bitcoin is definitely a good investment; the value changes wildly but I've always been able to sell when it peaks.

 

[Num7]

You should post a thread about your rig with details and pictures.

 

[Martelis]

Let's not forget though that if Bitcoin tanks or crashes, nothing is backing it.

 

[Num7]

Let's not forget though that if Bitcoin tanks or crashes, nothing is backing it.

That's right. You just loose all your bitcoins and their value, end of story.

It's a risk you take. A risk that gave some huge money to several people who were aboard early.

 

[TimeWizardCosmo]

Let's not forget though that if Bitcoin tanks or crashes, nothing is backing it.

Well, there's nothing really backing USD either. What matters is if people are willing to accept it in trade, which in BTC's case things are looking pretty good.

 

[TimeWizardCosmo]

Let's not forget though that if Bitcoin tanks or crashes, nothing is backing it.

That's right. You just loose all your bitcoins and their value, end of story.

It's a risk you take. A risk that gave some huge money to several people who were aboard early.

Sure! Once I relocate it to the garage this weekend I'll take some pictures and post some specs.

 

[Martelis]

True. But the value is based solely on how much is bought and not sold. Therefore potentially driving the value up.

 

[Martelis]

China alters the value of their money at will. They are also notorious for buying things up with the intention of altering its value.

 

[Martelis]

Are you Post Stalking me Cosmo? Lol