Re: Wall Observer BTC/USD - Bitcoin price movement tracking & discussion
Thanks dude. I always adhere strictly to the first rule, but it does bear repeating
yes, I understand completely, and it's not something I would recommend to anyone.
I think it was Christmas of 2011 when I first borrowed against the unsecured line of credit my bank gave me to buy some 7970's. I've since become addicted to having that access to instant liquidity, and just like my other addictions like beer and cigarettes, I simply write that money off to the cost of my own stupidity.
7970 is a kind of mining rig, correct? If so, did it pay for itself, and for how long were you able to use it? Did you have to retire it? Were you able to sell it to recoup some money, too?
It's a kind of graphics card that's used in a rig. I can't speak for mining profitability of bitcoin during that timeframe, but if he mined and held litecoins with his 7970's he would have made a killing.