Post
Topic
Board Bitcoin Discussion
Re: I am pretty confident we are the new wealthy elite, gentlemen.
by
QuestionAuthority
on 22/09/2014, 14:13:14 UTC

The difficulty is now too high for investments in mining to really be profitable unless you do it really big... which most people cannot afford to do..

Honestly I can make 100 or 200 per day selling BTC on localbitcoins.com, which I think is a lot more profitable and less risky than mining.


Do you buy from exchanges and sell locally?

Coinbase and sell locally/online.

I would actually make a lot more $ if I didn't have to wait 4 damn business days between purchases.

It is possible to wire $ to an exchange but you still have to wait 2-3 days for the wire to go through and it is possible the price could rise before then, causing a loss on the trade.

You're eventually going to get caught and prosecuted for money laundering and unlicensed money transmitting. I hope you're not in the US.

http://www.fincen.gov/statutes_regs/bsa/title18b.html
And your name is QuestionAuthority?

Bill Maher questions authority. Edward Snowden breaks the law and gives up his life to question authority. I believe in people banding together to make change happen not vigilante crusades by single individuals that act unilaterally on my behalf. If you want to be a prison martyr go right ahead. Charlie Shrem decided against that idea when he made his plea deal and it was the right decision.