Taipei ,
Sunday. Decided to give coffee a miss today and instead ordered a Ten Ren dark oolong iced tea I bought on the other side of Linsen Park near where I live , the coffee around here isnt good, Taiwans definetly a tea culture.
After riding into Taipei on one of the youbikes ( they're bikes that can be rented with the MRT (card Smartrd))
I caught the train out to Xianshan station to hike Elephant mounain it was quite hot and almost raining. At the base there's a magnificent temple and a little further along a monk standing with a wooden bowl asking for donations.Outside the Taoist temple I happened to notice a girl sitting at a desk with some Taro cards and a crystal ball (about 20 feet away from where this picture was taken)
I asked her if she could read the crystal ball . She said she read the Taro, so I asked what type of Taro is it and she said Egyptian . I thought thats kind of cool this girl and here with an egyptian taro deck. I asked
how much I would pay for that and she said one question is free. It was quite fun and I liked the look of her so I sat down and she made me fill out a small form with my parents names, my age and address. Then she said I should think of a question and she spread out the cards and said pick 3 cards . Then I was to pick one card of the three, and she turned it over. The card I picked appeared to be five coins each with a what looked like a capital B with a kind of line through it *. And there was something that looked like a rake with 5 prongs, and on the card was one word - investing. She held a kind of paint brush pendulum over it while staring at it intensely for a few minutes then gave me an answer to my question. I said that's cool the coins look like some sort of money that I might be investing in. The other two cards were unasked questions but not free.
It was really a cross on the coins, I've got a good imagination.
Bitcoin
I dont have a crystal ball but I've noticed that at the moment
the price seems reluctant to jump much above 750 . 700 may be the actual value above that might be the bubble, but luckily for everyone buying into the bubble the actual value may be set to rise and could do so before the bubble bursts
https://bitcoinity.org/markets .
It will probably continue to until after the mining rewards halving date on July 10 in 20 or so days but who knows what might happen on that day.
http://www.bitcoinblockhalf.com/ Looking on the bright side,
So much infrastructure is in place for bitcoin now.
The Mount Gox era is past and people have a renewed interest in it( Ethereum is looking good too.)The price rise is apparently coming from china in anticipation of a 10 percent rise after july 10 and because the yuan is becoming devalued investors are buying and looking for a safe haven. Next year apparently governments could take an interest in it. if the chinese government decides to buy, it could cause a bitcoin war with nations competing for the largest stakes
https://vinnylingham.com/bitcoin-2016-there-has-been-an-awakening-164b42d38927#.m6o5jft2k
So its likely the price will go up and maybe even cataclysmically . The question on veryones mind is:
How to go about getting bitcoin?
The first step is to get a wallet, and the easiest way is to go to https://blockchain.info/ and click wallets. You will also need an email address. Then you can either buy it, mine it or receive it in return for products or services.
Its probably easier to buy it if you're starting out . You have the option of buying it from an individual or an exchange. With an exchange you will have to register but its safer. Buying off individuals who have bitcoin however is just like buying any commodity: You give them the money and they give you what is its you want. Possibly while you are having a coffee together. You could start off with them sending small amounts while you slowly hand over the cash.
To recieve bitcoin in return for products or possibly services you could try listing on https://openbazaar.org/ which is a bitcoin marketplace. Or you can mine bitcoin. If you decide to mine before you invest in expensive hardware and a high electricity bill maybe you could take a look at cloud mining https://hashocean.com/ I haven't tried it but I've heard its good. I'm guessing the cloud mining company has investments in bitcoin mining equipment somewhere and what you are doing is paying for it. What you are buying is like mining shares but the returns are definite and start right away and are minus the hassle of having to have to pay the power bill etc . There is a middle man in this though and that's the cloud mining company.
How much bitcoin would you make if you spent 30 thousand dollars on mining equipment ?
Maybe not 1 bitcoin a day but if it was with the price of bitcoin at say 700 you would have your money back in 43 days At 0.1 bitcoin a day in 430 days. I really don't know what the returns are but say its 0.1 it still might be worthwhile so long as your equipment is still running a year and a half later then by that time you may have made about 12 bitcoins in profit. I'd be interested to know what the figures are . Lets have a look. Say I buy the Antminer listed here at 2100 US
https://www.bitmaintech.com/productDetail.htm?pid=0002016052907243375530DcJIoK0654 at the current rate
for bitcoin of $742 and at a speed of 14 TH/S
http://www.unitconversion.org/frequency-wavelength/terahertz-to-megahertz-conversion.html
http://www.alcula.com/calculators/finance/bitcoin-mining/
The returned profits per day above the power consumption are about 22 dollars
It may not be economical to buy 14 of them but say I did for 30000
they should return 300 dollars a day or .4 bitcoin
so they should pay for themselves after 100 days
but its 0.2 next month I guess when. So 200 days, and then you will be making a bitcoin every 5 days . By that time bitcoins will be worth 1000-10000 dollars each so it should be a good investment.