OT, Bitcoin, for rent? (by Homer [TX]) Nov 7, 2017 5:18 PM|
OT, Bitcoin, for rent? (by Dave [MO]) Nov 7, 2017 5:27 PM
OT, Bitcoin, for rent? (by Nicole [PA]) Nov 7, 2017 5:40 PM
OT, Bitcoin, for rent? (by Skunk [KY]) Nov 7, 2017 5:59 PM
OT, Bitcoin, for rent? (by Homer [TX]) Nov 7, 2017 6:17 PM
OT, Bitcoin, for rent? (by BRAD 20,000 [IN]) Nov 7, 2017 7:50 PM
OT, Bitcoin, for rent? (by John... [MI]) Nov 7, 2017 7:51 PM
OT, Bitcoin, for rent? (by John... [MI]) Nov 7, 2017 7:52 PM
OT, Bitcoin, for rent? (by Chris [CA]) Nov 7, 2017 8:23 PM
OT, Bitcoin, for rent? (by rentON [PA]) Nov 8, 2017 2:43 AM
OT, Bitcoin, for rent? (by S i d [MO]) Nov 8, 2017 5:06 AM
OT, Bitcoin, for rent? (by Skunk [KY]) Nov 8, 2017 5:12 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 7:32 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 7:33 AM
OT, Bitcoin, for rent? (by James [GA]) Nov 8, 2017 7:47 AM
OT, Bitcoin, for rent? (by Homer [TX]) Nov 8, 2017 7:57 AM
OT, Bitcoin, for rent? (by allin [VA]) Nov 8, 2017 8:51 AM
OT, Bitcoin, for rent? (by cjo'h [CT]) Nov 8, 2017 10:25 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 11:08 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 11:14 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 11:17 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 11:20 AM
OT, Bitcoin, for rent? (by Oregon Woodsmoke [ID]) Nov 8, 2017 11:24 AM
OT, Bitcoin, for rent? (by Homer [TX]) Nov 8, 2017 11:48 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 2:17 PM
OT, Bitcoin, for rent? (by S i d [MO]) Nov 8, 2017 2:32 PM
OT, Bitcoin, for rent? (by Pmh [TX]) Nov 8, 2017 2:43 PM
OT, Bitcoin, for rent? (by John... [MI]) Nov 8, 2017 2:58 PM
OT, Bitcoin, for rent? (by Homer [TX]) Nov 8, 2017 3:05 PM
OT, Bitcoin, for rent? (by Pmh [TX]) Nov 8, 2017 3:16 PM
OT, Bitcoin, for rent? (by Homer [TX]) Nov 8, 2017 3:38 PM
OT, Bitcoin, for rent? (by allin [VA]) Nov 8, 2017 3:39 PM
OT, Bitcoin, for rent? (by AllyM [NJ]) Nov 8, 2017 4:38 PM
OT, Bitcoin, for rent? (by Pmh [TX]) Nov 8, 2017 4:48 PM
OT, Bitcoin, for rent? (by Homer [TX]) Nov 8, 2017 5:14 PM
OT, Bitcoin, for rent? (by James [GA]) Nov 9, 2017 1:59 AM
OT, Bitcoin, for rent? (by AllyM [NJ]) Nov 9, 2017 4:32 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 9, 2017 10:50 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 9, 2017 10:54 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 9, 2017 10:58 AM
OT, Bitcoin, for rent? (by Pmh [TX]) Nov 9, 2017 5:28 PM
OT, Bitcoin, for rent? (by AllyM [NJ]) Nov 9, 2017 5:38 PM
OT, Bitcoin, for rent? (by frank [NY]) Nov 9, 2017 7:48 PM
OT, Bitcoin, for rent? (by John... [MI]) Nov 10, 2017 6:12 AM
OT, Bitcoin, for rent? (by Chris [CT]) Nov 10, 2017 8:12 AM
OT, Bitcoin, for rent? (by S i d [MO]) Nov 13, 2017 4:39 AM
OT, Bitcoin, for rent? (by John... [MI]) Nov 13, 2017 7:20 AM
OT, Bitcoin, for rent? (by S i d [MO]) Nov 13, 2017 7:49 AM
OT, Bitcoin, for rent? (by S i d [MO]) Nov 13, 2017 7:59 AM
OT, Bitcoin, for rent? (by Colin [CO]) Nov 13, 2017 12:00 PM
OT, Bitcoin, for rent? (by John... [MI]) Nov 13, 2017 12:43 PM
OT, Bitcoin, for rent? (by Pmh [TX]) Nov 13, 2017 2:15 PM
OT, Bitcoin, for rent? (by John... [MI]) Nov 14, 2017 6:33 AM
OT, Bitcoin, for rent? (by S i d [MO]) Nov 14, 2017 6:41 AM
OT, Bitcoin, for rent? (by Bill [NY]) Nov 19, 2017 10:39 AM
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OT, Bitcoin, for rent? (by Homer [TX]) Posted on: Nov 7, 2017 5:18 PM
We all have been hearing about Bitcoin for a few years now. I finally took the plunge with a small investment today. ( gambling ) As I have been reading about Bitcoin. One article even mentioned paying rent With Bitcoin. I was making a silver purchase last week and saw that even my precious metal supplier was taking Bitcoin as payment. I have a feeling that we will see more and more places of business accept it. As a landlord. Would you accept Bitcoin?
OT, Bitcoin, for rent? (by Dave [MO]) Posted on: Nov 7, 2017 5:27 PM
Homer, I would not accept Bitcoin, now. Later maybe. Only because I don't understand it other than a person to person transaction. No third party as in Federal Reserve?. Last weekend I started watching a show on Netflix about BitCoin.
Is it virtual , can your elaborate? --72.24.xx.xx
OT, Bitcoin, for rent? (by Nicole [PA]) Posted on: Nov 7, 2017 5:40 PM
never. don't know what it really is, don't understand it, no reason for it. just last month a company went under that was in the middle of rent collection. I may not be up with modern stuff but good old cash and/or local checks work for me, especially with local business dealings.
If I were an international business person, perhaps I'd need to learn what this is but for someone living within three miles of my house? nope. --72.95.xx.xxx
OT, Bitcoin, for rent? (by Skunk [KY]) Posted on: Nov 7, 2017 5:59 PM
It is virtual. There is not a Fed Reserve/third party/watchdog/overseer of all. Instead, there is a ledger that everyone using Bitcoin has access to. It's known as the blockchain. The blockchain stores all the transactions between parties.
If you want to check it out, I would recommend playing with it for a bit, say, with 0.01 bitcoins to start. Do some basic transactions, gambling is popular too, make your mistakes with small amounts first. Expect some bumps and learning curve on converting to $. Bitcoin can be very volatile too, for better or for worse.
One landlord specific tip. If you did decide to take it....make sure that tenant pays the electric bill, not landlord. There's this process known as Bitcoin mining. The short version is that mining can generate new Bitcoins.....and mining can consume impressive amounts of electricity in that process.
Not sure how to possibly explain all this during an eviction hearing if the tenant decided not to pay rent!
OT, Bitcoin, for rent? (by Homer [TX]) Posted on: Nov 7, 2017 6:17 PM
Skunk, good explanation and warning. BTW, cool screen name! I trapped 5 of those things a few weeks ago, one right after the other 5 days in a row, lol --75.141.xxx.xxx
OT, Bitcoin, for rent? (by BRAD 20,000 [IN]) Posted on: Nov 7, 2017 7:50 PM
Was it here that someone explained their bag was pulled for search because the TSA agent spotted some bitcoins??
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 7, 2017 7:51 PM
As a Bitcoin enthusiast, I'd certainly accept it as rent payment right now. I'm willing to "gamble" that little bit. I'd have no problem taking it.
I have small investments in Bitcoin, Ethereum, Bitcoin Cash (mostly due to getting it for free during the fork), and Dogecoin.
I also mine in exchange for Bitcoin using two mining rigs that I've built -- with a 3rd one on the way (put the rack for it together today). It is only worth it because my electric is free at work. :)
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 7, 2017 7:52 PM
Brad: How do you "spot some bitcoins"? It doesn't have a physical presence. It's like saying that someone spotted your stock investment in Apple at the airport. It isn't something someone can really "see."
Maybe they had something Bitcoin related on them (such as their wallet address as a QR code or something).
OT, Bitcoin, for rent? (by Chris [CA]) Posted on: Nov 7, 2017 8:23 PM
Why should I? Convince me! Paypal? Heck no!! After 4 weeks, some bogus issue and the rent will be deducted?
I like cleared funds! --14.166.xxx.xxx
OT, Bitcoin, for rent? (by rentON [PA]) Posted on: Nov 8, 2017 2:43 AM
I have a Tenant that keeps telling me about the tremendous appreciation in Bitcoin. I don't know enough about it to start dabbling in.
I also diversify some with precious metals. Maybe I'll try Bitcoin for a future purchase. --73.236.xxx.xxx
OT, Bitcoin, for rent? (by S i d [MO]) Posted on: Nov 8, 2017 5:06 AM
John...I could be wrong, but the way I read it is Brad was making a joke. To underscore the original poster's point that a lot of folks don't really understand bitcoin or any type of crypto currency. --173.19.xx.xxx
OT, Bitcoin, for rent? (by Skunk [KY]) Posted on: Nov 8, 2017 5:12 AM
Brad - yup! Despite it being a virtual currency, TSA has at least once insisted on a search due to 'seeing' bitcoin in luggage. The incident I know of, TSA said it looked like medallions, which is hilarious. You can get a physical version but it's rare to do and is usually just a printout.
Homer - TY! Maybe it fits, I'm usually the one under the foundation. Although I am sawzalling old plumbing instead of looking for grubs..
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 7:32 AM
Chris: There is no way to pull back Bitcoin payments. Once you have them confirmed in your account (which takes up to an hour at the most and usually much quicker than that), they are "cleared" forever. It isn't like PayPal at all.
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 7:33 AM
On a side note, my mining rigs made around $10 yesterday. So, I'm currently getting around $300/month (on a $1200 investment). Not bad. :)
OT, Bitcoin, for rent? (by James [GA]) Posted on: Nov 8, 2017 7:47 AM
What is your preferred rig? How much in electricity do you estimate you use? --185.17.xxx.xxx
OT, Bitcoin, for rent? (by Homer [TX]) Posted on: Nov 8, 2017 7:57 AM
John, does it take a computer geek to set up one of the mining Rigs? I have found them on Amazon for less than 500. $300 per month on a $1200 investment is better than rent houses. I am looking for other income producers, besides houses. ( have plenty ). I've been reading about mining on the web, and am very interested. If it doesn't take a geek, I would like to set up a few operations --75.141.xxx.xxx
OT, Bitcoin, for rent? (by allin [VA]) Posted on: Nov 8, 2017 8:51 AM
Never for me. Currently they are paying people to setup these servers with bitcoins. This reduces the value of bitcoins, because there are more bitcoins. Currently bitcoins value is going up because there are more new people getting into it. Those new people are needed to put actual money/goods/services into the system. At best it is a ponsi scheme. I would rather respond to a chain letter.
If you collect bitcoins for rent then your tax math looks like this...
Jan rent 1 bit coin currently valued at $1000 for tax purposes.
Feb rent 1 bitcoin valued at $1100 for tax purposes.
What a pain. Same as if you took collectable baseball cards for rent. --174.226.xx.xx
OT, Bitcoin, for rent? (by cjo'h [CT]) Posted on: Nov 8, 2017 10:25 AM
Homer, think I'd rather deal with the boy with the white stripe,at least you have a better idea where he is.......Charlie..................even you don't see him............................... --174.199.x.xxx
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 11:08 AM
James: Because I don't need to pay for electricity, I went a different route than most should. I went with lower-end graphics cards (GPUs) that suck a lot of power, but are cheap to buy. So, I'm buying (used) $125 GPUs (AMD R9 280X or HD7970) -- but they aren't that efficient from a power standpoint so most, who pay for power, would avoid.
I currently run two rigs: one with 5 280X GPUs and one with a mix of different ones (nVidia GTX 970, GTX 1060, and one 280X).
Total I'm pulling around 1700 watts at the wall. Here, that'd be around $140/month in electric. So, I'd be losing half of my profit to electric. (Still not bad even with electric to be making $160/month on a $1200 investment.)
If someone were to get into it today, they'd probably be better off buying a higher-end GPU in the $200-$250 range -- but then there is more risk involved, of course. I tried to be cheap.
Also, note that the work to mine gets more difficult on a regular basis. So, I may be making $10/day right now -- but that could be a lot less a month or two from now. So, it is hard to say if it is worth doing for someone new.
Finally, the bottom line is this: in many cases, if you are going to MINE or just INVEST in a coin, you may be better off to invest in a coin and just sit and hold it. I spent only $1200 on my rigs a few months ago. If I had taken that same $1200 and bought Bitcoin with it instead (and then didn't have to have ANY technical knowledge), then I'd probably be ahead of where I am right now as far as earnings go.
If you go read forums about mining, you'll find that the most common recommendation is to just take whatever you were thinking of putting into a mining rig -- and buy some coins directly instead. (Either Bitcoin or Ethereum or whatever.) In most cases, you'll come out ahead doing that instead of mining.
Personally, I do a bit of both.
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 11:14 AM
Homer: For what I'm doing (mining with a stack of video cards), it takes a bit of a geek, yes.
The "plug and go" option would be to buy a device called an AntMiner. These you just plug into the wall and into an ethernet cable -- configure a few minor things -- and let them run. But, they are more expensive -- and, again, no one can tell you what they will be making a few months from now.
You can go here and select an option for something to mine with -- along with your cost for electricity -- and it will tell you what you would make per month right now: www.nicehash.com/profitability-calculator
So, for example, go to EBay and see which AntMiners are available -- then go there and put in that model -- and see what it would make per month so that you can decide if it is worth doing.
The problem is that it is surging right now. So, you literally can't even buy an AntMiner new right now in most cases. They company is backordered for months. And, because of that, it is real risky -- because the rate could be very different in a few months when you actually get it.
In the end, you might just be better off buying some coins and sitting on them -- than trying to mine them.
- John... --207.241.xxx.xxx
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 11:17 AM
Allin: Your logic doesn't work with Bitcoin. More people mining does NOT devalue Bitcoin -- because it is locked at a total of 21,000,000 Bitcoins. It avoids inflation that way.
Bitcoin has increased miners hugely over the past year -- and it has done nothing but go up. It's up 54% just in the past month along (to right around $7350 right now)!
I agree that most of the current value is speculation, of course -- but it is NOT because of mining.
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 11:20 AM
(Sorry for all the replies -- just trying to answer individuals.)
Finally, if people just want to invest in Bitcoin (which a lot are doing these days), the easiest way to get into it and just own some is probably through CoinBase:
If you use that link to join, you get an extra $10 after you buy your first $100 worth.
You can link a bank account with CoinBase and then use your checking or savings account to buy Bitcoin (or Ethereum or Litecoin) directly.
I own both Bitcoin and Ethereum and actually think that Ethereum has better long-term real-life usage and potential down the road. But, right now, Bitcoin is just going nuts because of the press that it gets. So, depends on if you want to buy a real/usable currency for the future -- or if you just want to try to ride the Bitcoin train. Once again, I do both.
OT, Bitcoin, for rent? (by Oregon Woodsmoke [ID]) Posted on: Nov 8, 2017 11:24 AM
I won't accept it. If my tenant is making lots of money with bitcoin, they can cash one in and pay me the rent with good old American currency.
OT, Bitcoin, for rent? (by Homer [TX]) Posted on: Nov 8, 2017 11:48 AM
John, thanks for sharing your knowledge on the Bitcoin. I would love to play with mining, but I am technally challenged. I doubt I could pull it off. As far as electric goes, I have a small solar system that produces around 450-500 watts per sunny hour, I couldn't easily double or triple that for $ 1 per watt. I wouldn't mind a 3000 watt system. Is it possible for the store bought machines to run off of 12 volt, or would I need to run off of 110? I could still easily use a grid tied inverter to offset my power bill. --75.141.xxx.xxx
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 2:17 PM
You'd need to run off of 110v or 220v. The off-the-shelf Antminer stuff uses 1250w or more.
There has been some talk of people trying to do solar-powered setups -- but, so far, most of it has not really worked out for various reasons.
And, I haven't run any of the Antminer systems myself, so I'm not a great one to ask there, unfortunately.
You can buy hashing power on a system like NiceHash.com (which is where I sell my hashing power to -- and then they pay me in Bitcoin). But, even then, probably better off to just buy coins more directly instead.
OT, Bitcoin, for rent? (by S i d [MO]) Posted on: Nov 8, 2017 2:32 PM
I don't own any crypto currency.
I'm a fan of the school of evaluating investments which says if a person can't tell me when an investment is a bargain or overpriced, it's not an investment. It's speculating / gambling. If someone want to speculate / gamble with a few thousand bucks...go for it. I'm not interested. I don't play slots either.
Bitcoin price is so volatile no one knows what's a peak and how far away that peak is. To give an example, I have a friend who "invested" in them recently when the price was in the low $5,000s range. Today's price is $7,200ish when I just checked, so I bet he's feeling pretty smart right now...unless he sold when the price crashed in early Sept. Haven't asked him yet what he did. But even if he held on what did he know other than the price was trending sharply upward? So far his results are nothing other than luck.
More recently, we could ask someone who bought at 8 AM yesterday (price $7050ish) and is still doing okay, but someone who bought today at the mid-day peak of almost $7,850 is probably not as happy.
In Sept, the price on the 1st was $4,950, but it dropped to $3,225 14 days later, a loss of $1,750 (approx 35%). Think that couldn't happen again, or worse?
Looking at the history chart of prices, it reminds me of the 90s tech bubble and the 2008-09 real estate bubble, except the time frame is considerably compressed. Bitcoin has achieved "returns" that dwarf the equities and real estate markets of the 90's and early 2000s, but did it in about 1-2 years vs. a decade.
There's your sign folks. It's gambling, pure and simple. If you like playing the slots...by all means. Gamblers hit it big once in awhile. Doesn't mean it's not gambling.
I don't know about calling it a Ponzi scheme per se, but it shares many characteristics of one, although a rather high tech version I will grant.
To make any meaningful difference in my life at today's prices, I'd need to buy about $100,000 worth of it, see it double or triple in price, and sell it before it crashes. How many of us are comfy with putting that kind of money at risk...given what we know about how markets boom and bust?
I have friends who trade penny stocks too. They make $25-$50 every so often. I guess that's a fine hobby.
Many of us aren't buying houses now because we think a market correction is coming. Meanwhile, what are Bitcoin buyers doing? If people stop or even slow down buying their coins, those who are "holding for investment" will see a sharp drop in prices. I think we're seeing Bitcoin euphoria right now. Folks are talking about it in chat rooms and at the water cooler. Most investment analysts agree that once the average Joe at the office starts talking about an investment, the majority of the profits have been made and the only ones buying are suckers coming in at artificially high prices.
I'm sure folks who bought Vegas / Cali / Flordia real estate in 2007 felt pretty smart at the time too.
Will Bitcoin crash? Heck, I don't know. I told you all I don't gamble because I can't predict the future and my crystal ball isn't working today. It may quadruple in value or more. Still...I'm not buying any. It may drop back to $1 a coin. I simply don't know, and even John with all his knowledge on the process doesn't have any fundamental investment strategy on this other than, "It keeps going up." Maybe he'll make $1 million. I hope so. Hope, a key word.
Whatever floats your boat. But if you accept it for rent, convert it to cash immediately, before we have another early Sept crash. --173.19.xx.xxx
OT, Bitcoin, for rent? (by Pmh [TX]) Posted on: Nov 8, 2017 2:43 PM
bitcoin could be considered more as a commodity rather than as a currency (?) --104.218.xxx.xx
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 8, 2017 2:58 PM
As I said, I don't have any significant investments in it. I'm doing it for fun with fun money. I don't even own one whole Bitcoin. Just so people get where I'm coming from on this.
OT, Bitcoin, for rent? (by Homer [TX]) Posted on: Nov 8, 2017 3:05 PM
John, thanks for sharing your knowledge. My investments will also be fun money. I started yesterday. I may set it up for a hundo a week for dollar cost averaging. Just looking for other things to put money into now that I am finished buying houses. ( at least until the next downturn ). Also playing with lending club, and thinking about life settlements. --75.141.xxx.xxx
OT, Bitcoin, for rent? (by Pmh [TX]) Posted on: Nov 8, 2017 3:16 PM
Homer: I strongly suggest you research what has happened in the life settlements market the last 5 years. not a good place to park $ anymore.....I never did bc of the lack of transparency and the costs. certainly I would not do now. lending sites I do with mad $. --104.218.xxx.xx
OT, Bitcoin, for rent? (by Homer [TX]) Posted on: Nov 8, 2017 3:38 PM
PMh, thanks for the warning on life settlements, I haven't looked into them in a few years. Just trying to find places for money. You know how high houses have gotten around here, I can't justify paying that much when I was paying half that just a few years ago. The cd is paying 1.5 percent right now, cant stand locking money up for that amount. --75.141.xxx.xxx
OT, Bitcoin, for rent? (by allin [VA]) Posted on: Nov 8, 2017 3:39 PM
So I think that Bitcoin is locked at 21M coins but they have not been released and are being released to the miners. Once the max is reached I think people will shutdown their bitcoin servers, because they are not getting paid. Otherwise where would the bitcoins for the miners come from? If I were to try to predict a crash it would be when the miners are not being paid. Or a some point before then when the amount of bitcoin mining is reduced to the point where its not profitable.
Interesting idea but I can not see it being used in the long long term. It lacks backing.
How long have you had your server setup? Defentely the right time and place for you. Good luck.
OT, Bitcoin, for rent? (by AllyM [NJ]) Posted on: Nov 8, 2017 4:38 PM
Silver? You have been watching those stupid commercials haven't you? You want real money? Get a stock based retirement account and keep it while he is in office. I am getting thirty grand every three months from mine. TIAA/CREF.
They have discovered lots of gold and silver in Mongolia. That's why big investors are running those commercials and trying to pawn it off on you. --73.33.xxx.xxx
OT, Bitcoin, for rent? (by Pmh [TX]) Posted on: Nov 8, 2017 4:48 PM
Ally: I, as well as many others here, would appreciate you telling us what stocks you have that spin $30k every 3 mos (irrespective of the $ invested). Thx --97.94.xxx.xx
OT, Bitcoin, for rent? (by Homer [TX]) Posted on: Nov 8, 2017 5:14 PM
Ally, I haven't seen those commercials you speak of. I have actually been a fan of silver since I was a young teen, in 1978 or 1979, I went with my granddad and helped carry in hundreds of ounces of silver he had been collecting for more than 20 years, and watched him walk away with tens of thousands of dollars. That got me hooked. In 2001 or 2002, I started buying silver at around 5 or 6 an ounce. I sold all my silver in 2008 or 2009 in the low 40s to help purchase houses that were being sold super cheap. I'll continue to buy monthly until it's too high, then I'll sell again. I do dabble in the market, but haven't been lucky enough to get 30k every few months, if you could share those symbols with me? I will look into that as well --166.137.xxx.xx
OT, Bitcoin, for rent? (by James [GA]) Posted on: Nov 9, 2017 1:59 AM
I do understand bitcoin a bit, but haven't followed or kept up on it. One question, have you heard of anyone mining offline? My assumption would be that you could potential get a duplicate, which would be ignored as it would already be claimed. The likely hood of that would be small if you reconciled say every week or so, correct? --88.217.xxx.xx
OT, Bitcoin, for rent? (by AllyM [NJ]) Posted on: Nov 9, 2017 4:32 AM
OK, TIAA CREF is a company that provides retirement 401K accounts for teachers and others in education and related fields. They have been advertising for other clients on tv. recently. You can google them. They have accounts that contain a particular kind of stock like all Silicon Valley related or mixed stocks. They have real estate funds and bond funds. What I say is that they run these groups of stocks so well that they are constantly going up and up and in the bad time not so much down The did send me a booklet of the companies they invest in but I threw it away. There are many so they are spreading out the risk. What I am saying is get an account with them and they will wake it grow. To get 30 K every quarter, yes, I have a ton of money in there. But if you have a lot or a little, they will make it grow. I have been with them since 1985 through the Silicon Valley stock rises so I have a lot in there. But Mr. Pres is making it go up 30 K per quarter because these folks know what they are doing. I have some Public Service Electric and Gas that my mother bought. It is a very good stock. Never goes down. It goes up to around 60 and then it splits. It has done that a few times while she had it. That is one I would recommend and they send me $1400 every quarter right into my bank accoung. --73.33.xxx.xxx
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 9, 2017 10:50 AM
Allin: Correct -- they are released for mining. However, that is how it works -- it HAS to be that way. For any transactions to occur with Bitcoins, mining needs to be happening to process those transactions. In exchange for processing transactions on the blockchain, miners are paid with new Bitcoins.
Once the 21M is reached, how it works will change, yes. It is hard to predict how things will work then, but there are several plans in place. (Current estimates put hitting that mark around 2032 -- so we have significant time to figure that out.) What MOST think will happen is that, by then, computing power will have increased to make it affordable for miners to continue to process transactions simply in exchange for the transactions fees -- without any need for more Bitcoins.
So, again, this has been planned out -- and will continue to work even after the 21,000,000 have been "mined."
In any case, we will all have to see how it goes. Bitcoin works VERY well in many foreign countries that have been ravaged by inflation or have governments that make normal banking very difficult. I think it will continue to survive and grow.
I've been investing and mining for only a few months. To be honest, the best time to get in was years ago, of course. But, like they said, the best time to get in might have been a long time ago, but the 2ND BEST time to get in -- is now. :)
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 9, 2017 10:54 AM
James: These days, you can't "solo mine" (meaning without a group of others working on the same thing) without having a setup that costs at least 6 figures. So, very few groups are doing that. So, what you do is mine as part of a "pool" of others that are all working on the same problem. But, to do that, you need to be online -- since you are sending tiny pieces of it back and forth constantly. So, no, you can't really mine offline any more.
Also, to note it, almost no one like us mines Bitcoin any more. You need some custom hardware to mine Bitcoin these days. Instead, people like us mine other alternative cryptocurrencies (such as Ethereum, Zcash, and so on). And you can choose to either mine them directly (so that you actually get pieces of those coins) if you want -- or you can use a service like I do (NiceHash) where you mine whatever they tell you -- and they pay you in Bitcoins when you hit a certain minimum (which, for me, is every week or two).
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 9, 2017 10:58 AM
AllyM: I think most of us know who TIAA CREF is. They've been around forever. I think the question was more about how you're getting $10k per month there. What TIAA CREF funds do you own?
Doing some quick math based on an average of their funds, you'd need to have somewhere between $4-7 million invested with TIAA CREF to get that kind of quarterly income.
Do you have over $4,000,000 invested with TIAA CREF?? That's very impressive. Nice work!
OT, Bitcoin, for rent? (by Pmh [TX]) Posted on: Nov 9, 2017 5:28 PM
I have a lot less than $4m so all I ask for Ally are the stock symbols of what you hold so I can get to $4m...thx. --97.94.xxx.xx
OT, Bitcoin, for rent? (by AllyM [NJ]) Posted on: Nov 9, 2017 5:38 PM
Actually I don't have 4m and I'm still getting that ten percent per quarter. --73.33.xxx.xxx
OT, Bitcoin, for rent? (by frank [NY]) Posted on: Nov 9, 2017 7:48 PM
I love this discussion. We need people on the "no way " side. If bitcoin goes mainstream too quickly it will create too much of a bubble.
I will start taking rent in bitcoin. However, I won't hold more than 5% in bitcoin. That is my tolerance.
When I talk to folks and I tell them I'm a slumlord, they tell me "wow, isn't that risky?" insurance, tenants, markets, illiquidity , etc.
But real estate is not very risky for us. Why? because we have done our homework, lost money, learned, continue to learn and still make mistakes.
Bitcoin is the same. It will be the currency that our grandchildren will use before they are "allowed" to open a bank account @ bankofamerica.
Bitcoin is risky.
I'm sure someone back in the day might have had said " I will never take that green paper money, I want it in gold coin or nothing! ever!" "they can just print more of it"
If you are interesting in diving into this mess take a look at this guy talking around the world about bitcoin.
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 10, 2017 6:12 AM
AllyM: Again, all people asked is which fund you have invested in where you are getting $10K per month ($30K per quarter like you said -- and you are now saying that is 10% per quarter!). Which TIAA CREF fund(s) do you own?
You're recommending them. At least say which fund is apparently earning you 10% per quarter...
OT, Bitcoin, for rent? (by Chris [CT]) Posted on: Nov 10, 2017 8:12 AM
No greenbacks only thanks.
OT, Bitcoin, for rent? (by S i d [MO]) Posted on: Nov 13, 2017 4:39 AM
For kicks I checked prices over the weekend...I rest my case regarding the volatility of this asset. --173.19.xx.xxx
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 13, 2017 7:20 AM
I don't think anyone anywhere argued that Bitcoin wasn't volatile. So, I'm not sure what your point is.
BitcoinCash went a bit crazy this weekend due to some China influence. For those of us holding it, it went from $300 to $2500 and then back down to around $1000. I'm still very find with that. :)
OT, Bitcoin, for rent? (by S i d [MO]) Posted on: Nov 13, 2017 7:49 AM
My point--as laid out in my initial post--is that Bitcoin is unstable, speculative, and akin to gambling, although somewhat worse as I will discuss in a few minutes. Therefore, accepting it for rent, just like "investing" in it, is a gamble. It is generally not wise to gamble with one's business revenue. The post's original purpose asking should we accept "Bitcoin, for rent?" is my concern.
John, I'm glad your Bitcoin cash has been up overall to date. Good for you. However, this is not sufficient evidence that it is wise to accept rent payments in cryptocurrency. As I'm sure you know but I will reiterate: One function of any currency is as a store of value, and no cryptocurrency to date has established a firm base as a store of value. Some day, things may stabilize, and I will then need to re-evalute my view of cryptos based on the data available at that point. But as for today, it's a craps shoot if you get all your money, some of your money, or tons of money.
I know you're a tech guy like me, so I think one reason you like cryptos are they are cool and techy. If it were tulips (see "Dutch Golden Age" circa 1636-1637), would you be as enthused? Maybe so. I don't know. But cryptocurrency is, essentially, the same thing. Crypto value is drive almost entirely by the "greater fool theory", and the fools appear to be piling on betting that someone else will pay them $10,000 tomorrow for something that costs $2,000 today. But there is no underlying method for determining value, no metrics, no earnings, and only scant volatile history to use as a guide. The only reason it's going crazy is there are crazy people betting on it and/or against it. Your numbers from the weekend prove this out. 60 minutes from now, a bitcoin cash that cost $300 could be worth $0.01 or $10,000, but no one can tell me which way it's going or how soon it will reverse direction. Back to our casino analogy, at least with casino gambling I can tell you what the odds are and in what scenarios the "house" has a greater or lesser favor...but yes, the house always have the favor.
For anyone who wants to keep gambling that's fine and dandy, but we cannot call it "investing." No one on this board should accept it for rent unless it is truly money to burn. John and I agree on this point: a $1000 rent payment in bitcoin today could be worth $100 tomorrow when you need it for your expenses, payday, mortgage, etc. You simply...don't...know. And no one else does either. --173.19.xx.xxx
OT, Bitcoin, for rent? (by S i d [MO]) Posted on: Nov 13, 2017 7:59 AM
For the sake of avoiding any nitpicking, I amend my statement about "no earnings" that there are transaction costs associated with many--if not all--cryptos. I don't know if there are any that have zero transactions costs, having neither the time nor desire to look at all of them. Ultimately, any form of currency transaction has a transaction cost though, so for the purposes of this discussion I consider them a wash. Folks hopping in and out of crytos are not making their decisions based on this fact; they're doing it because a buddy of theirs tripled his "investment" (gambling stake) over the weekend, and so I regard these earnings as irrelevant. --173.19.xx.xxx
OT, Bitcoin, for rent? (by Colin [CO]) Posted on: Nov 13, 2017 12:00 PM
The investments Miss Ally is referring to is probably a variable annuity.
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 13, 2017 12:43 PM
Sid: I never said it was wise to accept rent payments in Bitcoin.
I think we're actually on the same page. I agree with you in general. So, I don't see a reason to push it further.
That being said, I don't believe it is quite as volatile as you suggest. It isn't straight random gambling as you suggest. The chances of Bitcoin being $1 tomorrow are almost nil. There is more to it than just "what some other schmuck will pay." You seem to be ignoring the actual USE of many of the cryptos out there (even if not Bitcoin for that matter). Some of them have much more behind them than just random investors.
But, again, if we're just talking about taking Bitcoin for rent payments, then I agree with you, in general. (But just in general -- because I would still take one for a rent payment and be fairly confident that it would not dive to being worthless tomorrow.)
OT, Bitcoin, for rent? (by Pmh [TX]) Posted on: Nov 13, 2017 2:15 PM
still Colin, even for that she wound still have a ton of $ locked up (?) --104.218.xxx.xx
OT, Bitcoin, for rent? (by John... [MI]) Posted on: Nov 14, 2017 6:33 AM
Sorry, but Ally likes to give advice here, but then tends to fall apart when it comes to the actual details. This applies to investing, ghosts, premonitions, magic, planet alignment, earthquakes, and so on...
OT, Bitcoin, for rent? (by S i d [MO]) Posted on: Nov 14, 2017 6:41 AM
John...yep, you got my point, thanks. --173.19.xx.xxx
OT, Bitcoin, for rent? (by Bill [NY]) Posted on: Nov 19, 2017 10:39 AM
Absolutely would accept Bitcoin along with Litecoin, Ethereum, Dash, Zcash. The rise of Crypto represents the failing state of the dollar. The dollar and banking system is crumbling and is becoming obsolete. The fastest way to send dollars is by wire transfer, cost $20-30 and takes up to 24hrs. You can send litecoin for a few pennies, and is almost instantaneous. Cryptos can be easily converted into dollars instantly and automatically deposited into your bank account without running around trying to cash or deposit checks or setting up auto payment systems which cost a ton compared to crypto currencies. I've been into bitcoin since it was $150, now it's around $8,000 per coin. Essentially being paid in crypto increases my purchasing power exponentially when being paid in dollars, year after year your purchasing power decreases along with almost nothing in earning interest with bank savings. I have been a landlord for about 10 years and only wish i found it earlier. Only 1 percent of the population even really knows about it, so any news calling a bubble is nonsense. When all your neighbors are talking about it and how much money they made, then it's a bubble. The stock market is an all time high being pumped up with federal reserve printed funny money, that is a bubble. Having everything in dollars is risky. Being diversified in the stock market alone is like being diversified in the titanic, the whole thing comes down at once. diversify in real estate, metals, cryptos and dollars. Asia is going full steam into crypto, major banks are coming in as well. Never trust what they say on the mainstream media. They move the market down by saying bitcoin is terrible, then they buy it up at a low price. Bitcoin projected to be around $10,000 by the end of the year and $15,000 + easy next year. There's a lot of volatility now since it's still such a small market compares to the stock market, but will steady out over time. Buy the dips and realize the banks and governments want in on it as well as they see blockchain technology as the future. --67.240.xx.xxx
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