Made My First Purchase with Bitcoin!

in Off-Topic
I posted about Bitcoins not too long ago (mainly about starting to mine). About a month ago I picked up a few USB ASIC miners and used one of my older systems to let it mine. I had an ok amount built up and was trying to figure out what to do with it (no one likes to let money just sit there haha). Anyhow, I'm not a huge fan of Halloween and usually go to the movies. I found an app that lets you purchase gift cards with your Bitcoins. Regal happened to be one of the providers, so I figured why not give it a spin?
I have a mobile app for my wallet, so I set my threshold for my mining pool and had it send the coins to my wallet. Top of the hour, autopay happens and just about 15 seconds later I get an email that the coins are in my wallet. Pull up the gift card app, set the amount for the purchase, and pay. Again 15 seconds later the gift card appears in the app! Small headache is Regal doesn't accept mobile gift cards yet so I'll have to print off the gift card in order to use it.
Overall, a very nice and quick experience. I tend to think Bitcoins will take off, but who knows.
I have a mobile app for my wallet, so I set my threshold for my mining pool and had it send the coins to my wallet. Top of the hour, autopay happens and just about 15 seconds later I get an email that the coins are in my wallet. Pull up the gift card app, set the amount for the purchase, and pay. Again 15 seconds later the gift card appears in the app! Small headache is Regal doesn't accept mobile gift cards yet so I'll have to print off the gift card in order to use it.
Overall, a very nice and quick experience. I tend to think Bitcoins will take off, but who knows.
WIP:
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
Comments
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
just a few days ago!
I could use a few more like this one, plug it in to a USB Hub like you mention and let it go! Nice tip!
Curious what the App name is for the bitcoins to giftcard, care to share?
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
Didn't they drop in price because of the link to drugs? (Silk Road)
Certs: RHCSA, LFCS: Ubuntu, CNCF CKA, CNCF CKAD | AWS Certified DevOps Engineer, AWS Solutions Architect Pro, AWS Certified Security Specialist, GCP Professional Cloud Architect
Learn: Terraform, Kubernetes, Prometheus & Golang | Improve: Docker, Python Programming
To-do | In Progress | Completed
Complete: 55/120 credits SPAN 201, LIT 100, ETHS 200, AP Lang, MATH 120, WRIT 231, ICS 140, MATH 215, ECON 202, ECON 201, ICS 141, MATH 210, LING 111, ICS 240
In progress: CLEP US GOV,
Next up: MATH 211, ECON 352, ICS 340
Right - Financially, it doesn't really make any sense right now. But it sounds like the OP is a bit of an enthusiast, so the enjoyment factor is worth something.
Also as ptilsen hinted at, mining is no longer profitable. CPU miners were forced out by GPU miners, GPU miners were forced out by ASIC's, and now ASIC's are being forced out by difficulty, in an extremely watered down explanation. People are dumping their X GH/s devices which only came out a few months ago because it is no longer worth the price of the device, which will never be recouped.
Best investment strategy is to buy in and hold on for the long run.
Also--
I kinda laughed...for something that started at a fraction of a penny in value, to peak at $264 within 3 years and currently holds at ~$200 per BTC...it's already taken off
I tend to think the price drop came due to the availability of ASIC's with much higher hash rates (you can buy one with a rate of 10 GH/s for $250 not including the power supply and other things you'd need to set it up) so people all, but left using the USB ASICs I use.
Yeah I'm definitely not in it for the cash that's for sure. I find the whole idea very interesting and thus decided to support it. Making a little something (whether I break even or not) is really just icing on the cake.
Ah true I guess it has taken off, but I'm thinking more along the lines of it lasting. That's the big question, will they stay relevant? Lots of questions around it right now so it will definitely be a wait and see type of deal.
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
If you guys want to make some money with Bitcoins, and your halfway decent at poker, I have a great site for you to come check out! I'm not sure if I can say it because it's kind of advertising, but it's really not hard to figure out as there is really only 1 popular poker bitcoin site. I have made over 30 Bitcoins since I started about a month ago. There's a few solid regs, but plenty of fish. Cashouts to wallet = less than 6 hours. If you want a HUD, PM me and I can hook you up. (It's 100% legal if your wondering)
This is the only way I have found to easily "generate" some bitcoins as I don't have a dozen ascii's sitting around and I don't have anything to sell on the dark web.
WGU Indiana - BS IT Security (Started: August 1st, 2013)
Transferred: AGC1 CDP1 BVC1 CLC1 CVV1 DHV1 DJV1 GAC1 CIC1 CDC1 UBT1 IWC1 IWT1 TCP1 TJP1 TJC1 EBV1 WFV1 EUP1 EUC1 CJC1 UBC1 TBP1
Completed: CUV1 BOV1 DRV1 DSV1 CTV1 CJV1 COV1 CQV1 CNV1 TPV1 MGC1 TXC1 TXP1 BNC1 TYP1 TYC1
Required: SBT1 RGT1 RIT1
Disclaimer: NOT A BITCOINER
If you actually wanted to have Bitcoins then it would be more efficient for you to just buy them directly with your money instead of throwing it away on miners and electricity. You would actually end up with more internet funbux doing it this way.
Just an FYI
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
I feel like trading bitcoins is a great stepping stone to learn trading stocks/currencies/etc for anyone that is interested in these things.
WGU Indiana - BS IT Security (Started: August 1st, 2013)
Transferred: AGC1 CDP1 BVC1 CLC1 CVV1 DHV1 DJV1 GAC1 CIC1 CDC1 UBT1 IWC1 IWT1 TCP1 TJP1 TJC1 EBV1 WFV1 EUP1 EUC1 CJC1 UBC1 TBP1
Completed: CUV1 BOV1 DRV1 DSV1 CTV1 CJV1 COV1 CQV1 CNV1 TPV1 MGC1 TXC1 TXP1 BNC1 TYP1 TYC1
Required: SBT1 RGT1 RIT1
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
WGU Indiana - BS IT Security (Started: August 1st, 2013)
Transferred: AGC1 CDP1 BVC1 CLC1 CVV1 DHV1 DJV1 GAC1 CIC1 CDC1 UBT1 IWC1 IWT1 TCP1 TJP1 TJC1 EBV1 WFV1 EUP1 EUC1 CJC1 UBC1 TBP1
Completed: CUV1 BOV1 DRV1 DSV1 CTV1 CJV1 COV1 CQV1 CNV1 TPV1 MGC1 TXC1 TXP1 BNC1 TYP1 TYC1
Required: SBT1 RGT1 RIT1
I was thinking about it today and I think the biggest limitation right now with Bitcoin is honestly that people convert it. It won't catch on as a currency if people don't actually use it to buy things. Obviously, a portion of that is there aren't a ton of options when looking to purchase things, but the options need to be advertised more. I would think that they would advertise on Mt Gox or Coinbase saying "hey we take Bitcoins". Very interesting none the less.
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
Bitcoin
PHP
Kotlin
Intro to Discrete Math
Programming Languages
Work stuff
WGU Indiana - BS IT Security (Started: August 1st, 2013)
Transferred: AGC1 CDP1 BVC1 CLC1 CVV1 DHV1 DJV1 GAC1 CIC1 CDC1 UBT1 IWC1 IWT1 TCP1 TJP1 TJC1 EBV1 WFV1 EUP1 EUC1 CJC1 UBC1 TBP1
Completed: CUV1 BOV1 DRV1 DSV1 CTV1 CJV1 COV1 CQV1 CNV1 TPV1 MGC1 TXC1 TXP1 BNC1 TYP1 TYC1
Required: SBT1 RGT1 RIT1
Is the end goal a universal/global currency? Is the majority of the hype (for lack of a better word) fueled by users who view this as a money making endeavor?
WGU MSISA
Start Date: 10/01/2014 | Complete Date: ASAP
All Courses: LOT2, LYT2 , UVC2, ORA1, VUT2, VLT2 , FNV2 , TFT2 , JIT2 , FMV2, FXT2 , LQT2