Mining as a part of prepping

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Deeps
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Re: Mining as a part of prepping

Post by Deeps » Thu Oct 12, 2017 6:29 pm

Wood cutter wrote: :lol: I have noticed that the odd thread seems to get derailed around here.
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What's your point caller ????? :P

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saint-pete
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Re: Mining as a part of prepping

Post by saint-pete » Fri Oct 13, 2017 11:08 am

Sorry, I didn't even think about 'mining' in its traditional meaning and it came to be a little confusing :?
I still can't figure out the whole thing with bitcoin no matter how much I try, guess it's all just way beyond me
Wood cutter wrote:I'd also add, that blockchain tech is here to stay, and is going to make its way into a lot of different industries sooner rather than later.
Agree here. And we can't ignore it. Feel like I need to do something, but still don't know where to start

Wood cutter
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Re: Mining as a part of prepping

Post by Wood cutter » Fri Oct 13, 2017 11:47 am

With limited knowledge, investing in any cryptocurrency is only a little more scientific than going to the bookies and placing a bet. I know people who've got significant amounts of Bitcoin and at the moment they are making a killing. In my opinion you'd stand a good chance of making a few quid if you could afford to risk a reasonable sum. Having said that, if your investment was only going to be a few grand then there are lots of easier and less risky ways to make money.

Early adopters of bitcoin have made a fortune. The price could either continue to rise as it has been, or could crash at any time. As with most investments, performance is very closely related to world politics. Become an expert in world politics, and you'll be an expert in making money from cryptocurrency.

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peejay
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Re: Mining as a part of prepping

Post by peejay » Fri Oct 13, 2017 12:39 pm

Wow, it's REALLY volatile at the moment!

I "invested" a tenner for a laugh a couple of months ago which turned into £9.80 after fees.

I watched it rise steadily up to around £11.64, then drop again to £10.18 last week some time.

A few days ago I took another look and it was back up to around £11.80.

Just took another look after reading this topic again and it's now £13.80!

Wood cutter
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Re: Mining as a part of prepping

Post by Wood cutter » Fri Oct 13, 2017 12:54 pm

peejay wrote:Wow, it's REALLY volatile at the moment!

I "invested" a tenner for a laugh a couple of months ago which turned into £9.80 after fees.

I watched it rise steadily up to around £11.64, then drop again to £10.18 last week some time.

A few days ago I took another look and it was back up to around £11.80.

Just took another look after reading this topic again and it's now £13.80!
With those percentages there's serious money to be made. A lot of the recent rise was due to whispers that China was going to lift a ban on Cryptocurrency (now common knowledge).

If you'd have stuck a million into Bitcoin a few months ago you'd now be the best part of 400 grand better off.

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JBird
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Re: Mining as a part of prepping

Post by JBird » Fri Oct 13, 2017 1:04 pm

The only real winners for Bitcoin were the initial investors.

Bitcoin has its uses for buying items anonymously, but for a SHTF scenario I think its uses are quite limited.

Wood cutter
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Re: Mining as a part of prepping

Post by Wood cutter » Fri Oct 13, 2017 1:11 pm

JBird wrote:The only real winners for Bitcoin were the initial investors.

Bitcoin has its uses for buying items anonymously, but for a SHTF scenario I think its uses are quite limited.
Did you not see Peejay's post? He's made 38 % in a few months. I'd say that's a win.

As I mentioned above, early adopters made most, however, many recent investors have also made a fortune.

Mortblanc
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Re: Mining as a part of prepping

Post by Mortblanc » Sat Oct 14, 2017 3:17 pm

Allow me to share a story about tulip bulbs and Holland. Blind faith in something with absolutely no intrinsic value.

Even as we speak the world economists are comparing the current bitcoin rampage to the events of the 17th century in one of the first recorded stock market "bubbles".

https://en.wikipedia.org/wiki/Tulip_mania

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Deeps
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Re: Mining as a part of prepping

Post by Deeps » Sat Oct 14, 2017 3:51 pm

Wood cutter wrote:
JBird wrote:The only real winners for Bitcoin were the initial investors.

Bitcoin has its uses for buying items anonymously, but for a SHTF scenario I think its uses are quite limited.
Did you not see Peejay's post? He's made 38 % in a few months. I'd say that's a win.

As I mentioned above, early adopters made most, however, many recent investors have also made a fortune.
Not that I'm suggesting it as a get rich quick scheme but about a month ago I has £1.56 in my online betting account, as of this morning I had just over 8 quid and in about 5 minutes I should be just shy of a tenner.

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I do bet like an 8 year old though. :oops:

Not a bad return too. :D

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peejay
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Re: Mining as a part of prepping

Post by peejay » Thu Nov 02, 2017 10:23 pm

Just checked my "investment" again, my original £9.80 as of 12th August is now worth £17.70 so I reckon by the time I hit 3 months on 12th November there's a good chance it'll have doubled the original investment.

Would be great if the investment was somewhat larger :)

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