Billy Young's Blog - Posts Tagged "bitcoins"
29th March 2013
I’m on holiday fro the Easter break. A week off to enjoy. During the week I plan to write a short story which I only came up with this week while at work. Sorry but I can’t really tell you much about the project at the moment though I may post it on Goodreads or Authonomy once I complete it. Like always when you have an idea I’m filled with the excitement that you get from it. That strange rush which makes it seem like it is the best thing ever. Of course I know that everyone who create think this way. Now I have to put the idea into words and hope I do justice to the crystallizing tale in my head.
With winter still holding the land to ransom the gardening season is still to start. I was hoping to get started planting the veg for this year but it isn’t warm enough to begin that. I will be going to the garden centre next week to make plans on what to grow this year. Any plants that I get will need to be kept indoors for now though till spring truly arrives. Sadly there is little sign of that yet. Very frustrating with the sun shining brightly today.
I order a new graphic card using Bitcoins, a crypto currency which you mine using your computer. I’ve been doing this for about the past year and a half. Over the past couple of weeks though the price that they are worth has shot up this led me to decide to spend some to beef up my computer. For this reason I ordered a Radeon HD7970 from Bitcoinstore.com. After a slight delay I got an email today confirming that it has finally been sent and a tracking number. I have also been looking at a new laptop for Magz but will wait till I receive my graphics card first or the price of the coins go up before committing to getting the one I was looking at for her. Of course the price of the coins may go down as such things can do. Still Magz does need a new computer as hers is beginning to creak at the seams. I did say to her when I began mining that I would spend some of the proceeds on a new one for her so it seems like I finally might just manage that goal.
With winter still holding the land to ransom the gardening season is still to start. I was hoping to get started planting the veg for this year but it isn’t warm enough to begin that. I will be going to the garden centre next week to make plans on what to grow this year. Any plants that I get will need to be kept indoors for now though till spring truly arrives. Sadly there is little sign of that yet. Very frustrating with the sun shining brightly today.
I order a new graphic card using Bitcoins, a crypto currency which you mine using your computer. I’ve been doing this for about the past year and a half. Over the past couple of weeks though the price that they are worth has shot up this led me to decide to spend some to beef up my computer. For this reason I ordered a Radeon HD7970 from Bitcoinstore.com. After a slight delay I got an email today confirming that it has finally been sent and a tracking number. I have also been looking at a new laptop for Magz but will wait till I receive my graphics card first or the price of the coins go up before committing to getting the one I was looking at for her. Of course the price of the coins may go down as such things can do. Still Magz does need a new computer as hers is beginning to creak at the seams. I did say to her when I began mining that I would spend some of the proceeds on a new one for her so it seems like I finally might just manage that goal.
5th April 2013
It has been good to get a week off of work, though it hasn’t all been easy sailing. I tried to sell some of my Bitcoins through Mt Gox, an online exchange for that currency, which didn’t go to plan. The company in question is based in Japan so I needed to send the money that I raised from the sale via International Bank Transfer. I got all the information from my bank but the transfer failed and Mt Gox has been fairly unhelpful. In the end it was easier to put the cash back into Bitcoins. Sadly this meant that because of the increasing price for this crypto currency I have fewer coins.
Why sell? I hear you ask. Well I found out that ordering goods from the US will mean I have to pay an import tax. This is around twenty percent of the value. It was for this reason I thought of trying to save a few pennies by getting my coins turned into cash and buying locally. This would also mean getting items quicker. Sadly I will now be forced to continue with using the US retailers to get my goods. There is a real opportunity for someone in the UK with the finance to make a killing. There is also a gap in the UK market for retailers to take advantage of. Bitcoins has seen some growth over the past few years as well as soared in price in the past three or four months. I wish I had the financial ability to take advantage of this situation.
I have been tracking my new graphics card as it wings its way to me. At the moment it has just cleared customs so I will get a card through the door any day. I also got a start on the story I told you about last week but sadly didn’t manage to finish it yet. Too many distractions. One positive was the visit to the garden centre. I got some new containers fro my bushes. They were in much need of replanting which they now have been. I also planted out the corn, onions and potatoes for this year. There is still more to be planted but Magz has her tomato plants and they are now in the propagator to protect them from the frosty nights. Yes the frost is still with us though spring is finally in the air. It has been a long winter.
Why sell? I hear you ask. Well I found out that ordering goods from the US will mean I have to pay an import tax. This is around twenty percent of the value. It was for this reason I thought of trying to save a few pennies by getting my coins turned into cash and buying locally. This would also mean getting items quicker. Sadly I will now be forced to continue with using the US retailers to get my goods. There is a real opportunity for someone in the UK with the finance to make a killing. There is also a gap in the UK market for retailers to take advantage of. Bitcoins has seen some growth over the past few years as well as soared in price in the past three or four months. I wish I had the financial ability to take advantage of this situation.
I have been tracking my new graphics card as it wings its way to me. At the moment it has just cleared customs so I will get a card through the door any day. I also got a start on the story I told you about last week but sadly didn’t manage to finish it yet. Too many distractions. One positive was the visit to the garden centre. I got some new containers fro my bushes. They were in much need of replanting which they now have been. I also planted out the corn, onions and potatoes for this year. There is still more to be planted but Magz has her tomato plants and they are now in the propagator to protect them from the frosty nights. Yes the frost is still with us though spring is finally in the air. It has been a long winter.
12th April 2013
It has been a very big turn around for the price of Bitcoins over the past couple of days. From a high of over a hundred and fifty pounds it has fallen to under fifty. Sadly I hadn’t ordered Magz new computer and now don’t have enough to get it till the price comes up again. That is of course if it does. Like all such things, stocks, shares, and money market speculation it is a risk you have to weigh up. Yes it is a gamble but I’m mining the coins so less so for me.
I did finally get my new graphics card. I was worried at first because it runs very hot ninety five degrees Celsius. I did some research on the net and found that it isn’t something to worry too much about unless it hits a hundred and twenty so I feel easier. I was leaving my computer on at night to work away at earning bitcoins but Magz doesn’t feel as happy with the new card being so hot so now I turn it off. I see her point and it is best to be safe.
Magz had to go to Glasgow to collect the package on the bus. She had a long walk to the sorting office after that. She was knackered by the time she got home which was after I got home. I just wish I could have gotten her that laptop ordered before the crash. Well we can’t have everything. I’ll just have to find some way to make it up to her for going all that way for me. The worst is she found out when she got there I could have paid the import tax and handling charges online then had the thing delivered in a day or two. We’ll know next time though.
I did finally get my new graphics card. I was worried at first because it runs very hot ninety five degrees Celsius. I did some research on the net and found that it isn’t something to worry too much about unless it hits a hundred and twenty so I feel easier. I was leaving my computer on at night to work away at earning bitcoins but Magz doesn’t feel as happy with the new card being so hot so now I turn it off. I see her point and it is best to be safe.
Magz had to go to Glasgow to collect the package on the bus. She had a long walk to the sorting office after that. She was knackered by the time she got home which was after I got home. I just wish I could have gotten her that laptop ordered before the crash. Well we can’t have everything. I’ll just have to find some way to make it up to her for going all that way for me. The worst is she found out when she got there I could have paid the import tax and handling charges online then had the thing delivered in a day or two. We’ll know next time though.
12th July 2013
I finally got my replacement graphics card from XFX. It is working great but not for mining bitcoins as it is now to slow. With difficulty increases over the past few months with the advent of ASIC miners coming online graphics card mining has become far too slow to be worthwhile. As for my order from Butterfly Labs, well that is still some way off. I might get it for Christmas if I am luck. Though BFL are sending out pre-orders they aren't really catching up on all the back order very quickly. What does that mean for me? Probably by the time I get mine I might see my investment returned in a year as the difficulty will have risen to make my ASIC as slow at mining as my graphics card is now. Slowly but surely bitcoin mining is becoming the reserve of those with the money to invest in the equipment of the future squeezing out the little guy like me. Well it was bound to happen as it became more successful.
While I was unable to mine I have been play the speculative game through MountGox.com. Though I did make early gains those are now slowly being eaten into over the past week or so. That is the danger of gambling and that is what speculating is really. My reason was that I had some spare coin left from mining but not enough to buy anything with. So I thought what the heck. I didn't take all of what I had left though just in case. Well you never know the price may rise to make what is left a good longer term investment. It is always wise not to have all your eggs in the one basket as they say.
My garden has been yielding strawberries all week. Magz has enough now to make some jam. Not sure when she plans to do so. I have also been harvesting one or two small baby lettuces as well as some coriander. The coriander makes great mayo. You chop the coriander, soak it in some lemon juice for about half an hour, and then just add the mayonnaise. It is great in wraps or on a sandwich. Remember to leave the mix to rest for about an hour before use. My family love it as do I.
While I was unable to mine I have been play the speculative game through MountGox.com. Though I did make early gains those are now slowly being eaten into over the past week or so. That is the danger of gambling and that is what speculating is really. My reason was that I had some spare coin left from mining but not enough to buy anything with. So I thought what the heck. I didn't take all of what I had left though just in case. Well you never know the price may rise to make what is left a good longer term investment. It is always wise not to have all your eggs in the one basket as they say.
My garden has been yielding strawberries all week. Magz has enough now to make some jam. Not sure when she plans to do so. I have also been harvesting one or two small baby lettuces as well as some coriander. The coriander makes great mayo. You chop the coriander, soak it in some lemon juice for about half an hour, and then just add the mayonnaise. It is great in wraps or on a sandwich. Remember to leave the mix to rest for about an hour before use. My family love it as do I.
