Any one do it?  Who do you trust?

Ethereum

As part of my side business developing websites and hosting websites I also sold software licenses for certain types of online software such as some commercial shopping cart software. Anyway, someone offered me almost quadruple the value (About $350) for a software license if I would except it in Bitcoin. I asked him why he was willing to pay almost 4 times the price using Bitcoin? I told him I accepted CC's and Paypal but he said he sold someone something and they gave him Bitcoin and he was having trouble getting it converted to real currency. He was in the UK. Since I didn't even have an account that I could deal with Bitcoin I turned him down. That  same $350 value is worth a lot more now. Only problem is I don't buy anything from anyone that accepts Bitcoin. I am glad I didn't bother with it as at that time it seemed like a big hassle to me. Not sure if it still holds true or not?

As part of my side business developing websites and hosting websites I also sold software licenses for certain types of online software such as some commercial shopping cart software. Anyway, someone offered me almost quadruple the value (About $350) for a software license if I would except it in Bitcoin. I asked him why he was willing to pay almost 4 times the price using Bitcoin? I told him I accepted CC's and Paypal but he said he sold someone something and they gave him Bitcoin and he was having trouble getting it converted to real currency. He was in the UK. Since I didn't even have an account that I could deal with Bitcoin I turned him down. That  same $350 value is worth a lot more now. Only problem is I don't buy anything from anyone that accepts Bitcoin. I am glad I didn't bother with it as at that time it seemed like a big hassle to me. Not sure if it still holds true or not?

Bitcoin trading has increased in value 500%+ in the last year.  Bitcoin isn't backed by any financial institution, like The Fed in the US backs US currency.  That makes it tough to exchange for hard currency.

If you can't find others willing to accept bitcoin, you're basically stuck with it until you can.  By then, it'll likely be worth more, so there's that upside.

I considered doing the Bitcoin calculations to make income, but haven't jumped in yet.  The downsides seemed a little risky.

You can thank Hawaii lawmakers for screwing things up again.

I believe it was last year they passed some virtual currency regs that require companies dealing in bitcoin etc that they have to hold an equal value in USD to customers bitcoin.  Since nobody wanted to do that, you wont find anybody legit to service you in Hawaii.  You'll need an out of state address and bank account if you want to convert to cash easily.

At this stage in the game with the coin at all time highs, I'd sit on the sidelines and watch it play out if I were you.  If you're bored and want to gamble, the trend is still up.

You can thank Hawaii lawmakers for screwing things up again.

I believe it was last year they passed some virtual currency regs that require companies dealing in bitcoin etc that they have to hold an equal value in USD to customers bitcoin.  Since nobody wanted to do that, you wont find anybody legit to service you in Hawaii.  You'll need an out of state address and bank account if you want to convert to cash easily.

At this stage in the game with the coin at all time highs, I'd sit on the sidelines and watch it play out if I were you.  If you're bored and want to gamble, the trend is still up.

Yeah up until this stupid law it was very easy to exchange via sites like Coinbase

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I'll take gold and dead presidents.  I don't accept cyber currency and don't know anybody that does.

I'll take gold and dead presidents.  I don't accept cyber currency and don't know anybody that does.

Its kinda useful, even for us in Hawaii.  I havent paid for anything on Amazon for years now.  Been spending coins through purse.io.  Basically, people want bitcoin and they gift you things via the amazon wish list function and you pay them in bitcoin.  You get maybe 15% off every amazon order and in times like these, a good spot price conversion.  It is harder to use than just regular amazon, however.

Other than that, its all speculation and gambling.  If I were starting now, theres no real reason other than bubble mania.

sold my 6.5 coins when they were $500   oh well.

sold my 6.5 coins when they were $500   oh well.

If you paid less than $500, you did OK.

Its all completely speculative.  If you guys want more info, let me know and I'll get you started rolling the dice.

If you paid less than $500, you did OK.

Its all completely speculative.  If you guys want more info, let me know and I'll get you started rolling the dice.

I did ok, enough to pay for the video cards that I used to mine alt-coins and home theater system when overstock started taking bitcoins and a few other things. 
Mining is rather useless now unless you had dedicated hardware and dont live in $0.34 / KW Hawaii. 

The price is way too high to justify the usefulness of bitcoin right now,  I suspect it will crash again and I'll pick up a few and wait for the next bubble. 

I still have a 1000 dogecoins in a paper wallet.  Hopefully they will make a comeback before I die 

Basically the average person doesn't  have enough money to buy a bitcoin. Lately they been fluctuating around  $6000. Or so. But if you understand it is just as liquid and easy to get your cash from it. I guarantee if you had bitcoins you could easily sell it for cash if you offered it under market value. I envy the idiots who bought it at .02 because they wanted to buy game apps with it and forgot about it and realized Lol I have a wallet full of them that equal $500k. They literally paid all $2.00 for I actually know a couple of people. But there are actual trading index that you can buy stocks in crypto currencies. This platform is no longer a fluke governments and banks trade and invest.

If anyone is confused about Bitcoin and has Netflix ....

https://www.netflix.com/title/80154500

Is bitcoin mining not worthwhile?  A friend is looking to move operations so he can expand.
I'm worried he may take on too much risk

The new location has a 75kva tsf.   If that isn't enough juice, I'm guessing upgrading the electrical system at 30-40k.   This assumes the building is fully permitted as is.

My wife's business hit a major snag when they found out a location that they were looking at had passed state health inspection but didn't have city permits for alterations to the building.  Getting after the fact permits would have costed a lot.  City said they would have to permit the old stuff before the city would give a permit for an electrical upgrade

Is bitcoin mining not worthwhile?  A friend is looking to move operations so he can expand.
I'm worried he may take on too much risk

The new location has a 75kva tsf.   If that isn't enough juice, I'm guessing upgrading the electrical system at 30-40k.   This assumes the building is fully permitted as is.

My wife's business hit a major snag when they found out a location that they were looking at had passed state health inspection but didn't have city permits for alterations to the building.  Getting after the fact permits would have costed a lot.  City said they would have to permit the old stuff before the city would give a permit for an electrical upgrade

Well that's what the fears are with mining becoming very expensive and the rewards being reduced and solve times getting longer and more complicated.

I would do it if I had extra cash to spend a few thousand on...or you could buy another pistol/rifle/ammo.

My friend bought in at $1700.  But he didn't sell any coins yet.

From what he told me, he's going to sell $1700 worth so at least he doesn't lose anything.

I would do it if I had extra cash to spend a few thousand on...or you could buy another pistol/rifle/ammo.

My friend bought in at $1700.  But he didn't sell any coins yet.

From what he told me, he's going to sell $1700 worth so at least he doesn't lose anything.

Lol that would be difficult because each coin as of yesterday is $7400. He could sell a partial coin. I know people who kokua on coins because they can't afford to buy a whole one.

You don't need  to buy a whole one. They are divisible to 7 or 8 decimal places.

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Now I'm really sad. 

I just found this e-mail from another offer someone made me for one of my websites:

"Hello.  I just got a payment from one of my advertisers in Bitcoin.  I got 2 BTC which is worth about $800.  If you're interested in taking 2 BTC for the site, let me know."

This was on 9/23/14. And I turned this offer down as well. [Kicking myself] 

You don't need  to buy a whole one. They are divisible to 7 or 8 decimal places.

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^^^This, because there are only so many coins in existence, similar to stock shares.  Bitcoin can't just create more coins due to the demand.  But the problem is he needs to wait to find a buyer.  So right now because it's so hot, it shouldn't be an issue.  But if it ever crashes, it's going to be impossible to sell anything.  Unlike stocks, you can sell at what ever the market price is.  Don't need to wait for a buyer.

But from what he told me, many EU and Japan take coins as currency to buy items.  Not in Hawaii yet though.