The Steel Guitar Forum

I know I'll get flamed for this and it might not be in the right section but here goes...

I invested $300 at this site

https://bitconnect.co/?ref=DroopyPawn

3 months later, it's worth $1200 and still growing.

It involves Bitcoin.

That's all I'm saying. You decide if it's right for you.

Pick on!


PS... If you decide to join, please list DroopyPawn as your sponsor.

The good news is that my computer's security blocked the website. As it should.

Interesting. But I've been in for 3 months. The company has been going for nearly a year. Anyway, have a good day. Tune up that Bb lever.

Jon Light wrote:The good news is that my computer's security blocked the website. As it should.

Yup......out of curiosity I clicked on the link.
Malwarebytes gave me the "Malicious Website Blocked".
As it should..........

The primary reason for any website involving Bitcoins being blocked by Malwarebytes', is because it detected a Bitcoin Miner Trojan that is foisted on visitors landing on those pages.

Yeah I just looked it up. Malware Bytes added the site on Nov. 4, 2017 because they think it's a Ponzi. It very well could be a Ponzi but I can tell you for sure that I'm being paid every day.

I knew I would catch flack over this post but I still wanted to share the link. I'm not offering advice, just info.

Gary;
Can you check the scripts to see if there are any Minero, or Coinhive Miners loaded on the landing page?

I use the Coinbase app on my phone to track Bitcoin, Ethereum and Litecoin. A $400 investment in Bitcoin 18 months ago would now be worth $7,000. It's now easy to get Bitcoin converted to cash or spend it online. It's now 2017 and this is another great way to invest as long as you don't listen to all the currency fearmongers in the government that BTW can't figure out how to tax Bitcoin profits.

I don't see anything suspicious in the html. Just some java scripts for drawing the page and menus.

I AM running NiceHash miner here on my system. In addition to the bitconnect site, I've been mining bitcoin for about 3 months. I've made around $500 extra from it... and bitcoin price keep going up.

I figured since my computer is always on anyway, why not let it make some money. Makes a little over $5/day mining. Of course you need the right hardware for that.

In any case, I didn't want to start up a bunch of crap here. Just wanted to let people know what I'm doing. You guys can decide if it's something you're interested in or not. If you don't like how it looks, stay away. No harm to any of us that way.

I can't personally confirm it, but I've heard it said that the IRS regards Bitcoin as a capital asset and any profits made are subject to capital gains tax.

So, the IRS doesn't regard it as a currency.

Reports are that the IRS is seeking court permission to scan trading records in search of unreported capital gains.

Keep track of your cost basis. I guess you'd report any bitcoin gains on Schedule D, just like it was a stock.

I've heard that Bitcoin mining uses a lot of processor power, slowing down your computer and draining laptop batteries. Wordpress recently blocked a plugin that was pushing a mining trogan onto unsuspecting viewers.

This stuff seems evil to me.

Gary Shepherd wrote:I don't see anything suspicious in the html. Just some java scripts for drawing the page and menus.

I AM running NiceHash miner here on my system. In addition to the bitconnect site, I've been mining bitcoin for about 3 months. I've made around $500 extra from it... and bitcoin price keep going up.

I figured since my computer is always on anyway, why not let it make some money. Makes a little over $5/day mining. Of course you need the right hardware for that.

Could you elaborate on the hardware you are running to mine Bitcoins? Have you calculated the cost of the electricity above what your PC would normally use being on all the time?

Mitch, as for capital gains, there would be nothing to report until a gain was realized (bitcoin was sold or spent). I'm just holding all of mine expecting the price to continue rising.

b0b, yes. Bitcoin mining use a lot of power and you need pretty good hardware. I doubt there's a laptop anywhere nowadays that could be profitable mining. Several years ago maybe, but not now.

I'm spending about $30/month extra on power now but making $200/month. Additionally, the price of bitcoin keeps rising. It was around $2k when I started 3 months ago. Over $8k per bitcoin now. That's a 4x growth already.

There's also the cost of the hardware (video cards) but I was already build a new system. I upgraded my wife's and kid's computers with new cards. They mine when not being used.

Wiz, you need either ASIC miners, or in my case, video cards. I'm using GTX 1060 and 1070 cards. My 1070 runs almost all the time, and I play games on the 1060. The 1060 mines when I'm not playing or when I'm at work.

Gary Shepherd wrote:Wiz, you need either ASIC miners, or in my case, video cards. I'm using GTX 1060 and 1070 cards. My 1070 runs almost all the time, and I play games on the 1060. The 1060 mines when I'm not playing or when I'm at work.

Thanks Gary.

For another view... click here

Most of the establishment that can't profit from Bitcoin is against it. That includes gov't, banking, investment firms etc. Want to know what's really not backed up by anything but printing presses, it's the USA currency. Lot's of people are making huge profits on Bitcoin so it's certainly not a fraud. Why be so afraid of something just because it's new?

You don't need to "mine"Bitcoin" to profit greatly from it. Simple old fashioned Bitcoin purchases and sales at the right time can yield great results. Much greater results than JPMorgan has been able to produce.

Hey where did the steel guitar forum go ?

Daryl Thisdelle wrote:Hey where did the steel guitar forum go ?

This portion of the SGF deals with all things to do with computers, software and smart devices.

Wiz Feinberg wrote:This portion of the SGF deals with all things to do with computers, software and smart devices.

....and snake oil...IMHO. Just sayin'

$300 converted into $1,200 is not snake oil. It is real profit! A few major financial exchanges are now planning to list Bitcoin and the other 3 major digital currencies. More stories abound bout major Bitcoin successes involving the common man than any other phenomenon. The computer part of this that fascinates me is the mining aspect!

I wonder how many of the government and financial icons that are dissing Bitcoin are secretly investing in Bitcoin. Do as I say, not as I do?

It's sometimes difficult to to accept a paradigm shift as reality. Tubes to transistors, CD's to digital media, cable/satellite to streaming video, gas cars to electric, incandescent lights to LED's and now (maybe) hard currency to digital currency.

Microsoft, Tesla, Newegg and Subway don't accept snake oil, but they do accept Bitcoin.

Two decades ago, I took part in a distributed computer research project called the SETI@Home Project. PCs around the world donated some of their CPUs and RAM to run a screensaver that downloaded telemetry. We were analyzing tiny portions of the sky that were scanned by a huge radio telescope at the Arecibo Observatory, in Puerto Rico. We searched for signs of life out there.

The bitcoin mining projects are reminiscent of that SETI@Home project. They are much more intense than the SETI research, mainly because making money, not gaining knowledge, is the object now.

BTW: The SETI@Home project is still functioning.

I'm holding off waiting for 2bitcoin!!

Greg Cutshaw wrote:$300 converted into $1,200 is not snake oil. It is real profit!

So was the money I made when tech stocks were amazing everyone with their record-setting profits some years back. Then the goose, along with all it's "golden eggs", blew up, and a lot of people, including me, who accepted that paradigm shift, lost a LOT of money. The old saying "All that glitters is not gold" comes to mind.