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Bitcoin exchange Mt. Gox goes offline amid serious trouble

By Scorpus ยท 29 replies
Feb 25, 2014
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  1. captaincranky

    captaincranky TechSpot Addict Posts: 15,075   +4,083

    Isn't that how a Ponzie scheme works?
     
  2. dividebyzero

    dividebyzero trainee n00b Posts: 4,840   +1,268

    Sounds like a fitting denouement for a what amounts to the pyramid scheme that cryptocurrencies are based around.
     
  3. captaincranky

    captaincranky TechSpot Addict Posts: 15,075   +4,083

    Nah man, we're all inside the matrix, and everything else is an illusion.\

    Don't listen to me, I'm a bitter old man, who's just pissed because I don't have a video card powerful enough to, "mine" a fortune.

    In other news, here in PA, many of the people that ran to change their electric suppliers, (after it became legal in PA), opted for a "variable rate plan". They were hit with bills ranging up to 25 cents a KW hour in January. A couple of old farts, (much as myself), pooped out a goldie when they got an $800.00 electric bill. (Our local utility would have cost them about $330.00).

    Ironic huh? Just when the bottom fell out of the bitcoin market, the power companies jacked up the price of the power to mine them.

    Wait, I know! Miners unite, all of you rush out and equip your houses with solar panels. You should be able to amortize that investment "quickly", with the returns from a mining operation. Say maybe, 2 or 3 decades?
     
  4. dividebyzero

    dividebyzero trainee n00b Posts: 4,840   +1,268

    A wise man* might start mining big time, and once a electricity usage pattern had been established, maybe switch to hydroponic cultivation. Resale of the Whatevercoin mining rig to some Johnny-come-lately at an inflated price should cover the new start up costs.

    * Local pricing and demand, and whether you live in Colorado or Washington State dependant I guess.
     
  5. captaincranky

    captaincranky TechSpot Addict Posts: 15,075   +4,083

    (captaincranky picks up lit thought provocation rollyerown, and inhales deeply)
    (cranky exhales with great force and a little cough).....Then says slowly, (still coughing), "Dude, what a positively stellar idea".....! *nerd*(y)
     
    Last edited: Feb 26, 2014

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