Re: [Chugalug] If you bought $100 in Bitcoin 7 years ago, you'd have $75

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Re: [Chugalug] If you bought $100 in Bitcoin 7 years ago, you'd have $75

Joel Swanson-2
For me, bitcoin solves a practical problem (& creates another one). I live & work in France, helping the French Protestant Reformed Evangelical union of churches start new churches, but I'm paid in the US by our sending organization, Mission to the World. I could wire a portion of my salary each month, but my bank charges$40 per wire, & my French bank takes a 35€ cut when I receive it - nearly $75, so I would need to wire at least $7,500 to only pay 1% in wire fees---but that's way more than my monthly paycheck. Transferwise can send from USD to EUR for a flat 1%, so that's an option.

However, I can use Bitsquare (peer to peer libre software like bittorrent but for bitcoin) to buy in the US, then sell that bitcoin here for EUR, and even with bitcoin's current "high" fees due to network congestion, I pay about $1 or $1.5, so usually under $3 to move from USD to EUR via bitcoin. Even back when 1bitcoin was in the $600 range last year, my cost was usually 0.3% or less, so I'm saving money and using a technology I enjoy.

The problem bitcoin creates for me is that the IRS currently treats bitcoin as property rather than a currency, so I have to track my cost basis and capital gains/losses for every bitcoin transaction. Even using ledger CLI to keep my books, its a bit of a headache. But I'm learning more stuff, and hope to write some shell scripts or a simple program to automate the bits I can... bitcoin allows us to have programmable money, after all. I put up with the hastle because I enjoy learning the technology.

Le 25 mai 2017 19:28:41 GMT+02:00, [hidden email] a écrit :
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Today's Topics:

1. Re: If you bought $100 in Bitcoin 7 years ago, you'd have $75
million right now (William D. Roush)
2. Re: OT: FS Dell T7600 Workstation and R210 Server (Aaron Welch)





Message: 1
Date: Thu, 25 May 2017 17:19:26 +0000
From: "William D. Roush" <[hidden email]>
To: "Cha. Unix Gnu Android Linux User Group" <[hidden email]>
Subject: Re: [Chugalug] If you bought $100 in Bitcoin 7 years ago,
you'd have $75 million right now
Message-ID: <[hidden email]>
Content-Type: text/plain; charset="utf-8"

I’m pretty sure anyone shoveling any decent amount of money out of BTC into another currency doesn’t want to talk about it, considering a lot of the reasons for people using BTC now-a-day (ransomware, illegal activities, etc.).

I doubt we’ll see numbers that high, I do wonder how much of that volume is just internal transactions vs. money in and out of the system.

William Roush | https://www.roushtech.net/
Office: 423.933.2114 | Cell: 423.463.0592 | Email: [hidden email]<mailto:[hidden email]>

From: Chugalug [mailto:[hidden email]] On Behalf Of Stephen Kraus
Sent: Thursday, May 25, 2017 12:19 PM
To: Cha. Unix Gnu Android Linux User Group <[hidden email]>
Subject: Re: [Chugalug] If you bought $100 in Bitcoin 7 years ago, you'd have $75 million right now

Please show me someone who actually managed to extract $75 million out of Bitcoins. Thanks.

On Thu, May 25, 2017 at 11:42 AM, William D. Roush <[hidden email]<mailto:[hidden email]>> wrote:
Interesting question: BitCoin has a market cap of 43b based off circulating supply, but how much of that is lost due to lost wallets and whatnot from the days where mining coins was easy as pie?

Someone brought this up to me a couple days ago and I was curious how difficult it would be to liquidate $75m of Bitcoin, but looking at the market volume (>1b/week), apparently not too hard.

Volume is up 10x since last month though, that’s insane… any speculation on the reason?

William Roush | https://www.roushtech.net/
Office: 423.933.2114<tel:(423)%20933-2114> | Cell: 423.463.0592<tel:(423)%20463-0592> | Email: [hidden email]<mailto:[hidden email]>

From: Chugalug [mailto:[hidden email]<mailto:[hidden email]>] On Behalf Of Lynn Dixon
Sent: Thursday, May 25, 2017 10:59 AM
To: CHUGALUG <[hidden email]<mailto:[hidden email]>>
Subject: [Chugalug] If you bought $100 in Bitcoin 7 years ago, you'd have $75 million right now

That statement was made when the exchange rate was at $2200 USD / BTC. The rate is now sitting at roughly $2700 USD / BTC and its expected to hit $3000 very soon.


CNBC did a decent article on the exchange rate: http://www.cnbc.com/2017/05/22/bitcoin-price-hits-fresh-record-high-above-2100.html


Japan is widely adopting the currency, even creating regulation to allow its use for normal transactions inside the country.



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Message: 2
Date: Thu, 25 May 2017 13:28:39 -0400
From: Aaron Welch <[hidden email]>
To: "Cha. Unix Gnu Android Linux User Group" <[hidden email]>
Subject: Re: [Chugalug] OT: FS Dell T7600 Workstation and R210 Server
Message-ID: <[hidden email]>
Content-Type: text/plain; charset="utf-8"

So as it turns out, I do need that K2000 card instead of the FX3800 yours was supposed to include. Is there a way I can swap them back out?

Aaron

Sent from my iPhone

On May 22, 2017, at 11:55 AM, Sparky <[hidden email]> wrote:

I am interested in the T7600.

On Mon, May 22, 2017 at 8:42 AM, Aaron welch <[hidden email]> wrote:
T7600
This is one of the coolest machines I have ever seen. Here are the specs:

Single 6C Xeon E5 2630 2.3Ghz (dual capable up to 16C total)
32GB RAM (up to 512GB)
Nvidia Quadro FX 3800
1300W PSU
4x 3.5" drive sleds
missing front cover over drives
$400 (about $150 below eBay)

R210
Single 2C i3 2.93ghz
16GB RAM
2x 160GB drives
$125
Small form factor would be a great pfSense box.


--
Aaron Welch
Chief Mechanic @ Geek Ventures
423-505-9999
[hidden email]
"Enabling people to do great things with their own ideas."



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