Page 1 of 2 12 LastLast
Results 1 to 10 of 11

Thread: BitCoins

  1. #1

    Default BitCoins

    anyone here of Bitcoin mining. I have a friend tring this out rite now and he is using a laptop computer and over a week has tells me he made 20$. I don't know much about this. has anyone tried this ?

  2. #2

    Default

    In my opinion the time to make any real money mining your own coins is long over. On the surface it sounds great, but the cost of the electricity over the average time needed to find one is almost always higher than the value earned with consumer gear. If you have access to cheap or free power (keeping in my a huge spike in energy usage usually doesn't go un-noticed by landlords) then ok, maybe. Otherwise, you'll probably lose money, not to mention wear and tear on your gear.

  3. #3

    Default

    seconded here I've read quite a bit about bitcoins when a friend brought it up to me wanting to know if it was real, if you wanted to make any decent amount of money from mining them you needed to be there at the start, the algorythm they use basically makes coins rarer and take longer to mine the longer the system operates and (at least in theory) has a peak at which no more can be found (at least within the span of a human lifetime). They also devalue as well, its probably best to consider it over and done with and stick to real money.

  4. #4

    Default



    Quote Originally Posted by Belarin View Post
    the algorythm they use basically makes coins rarer and take longer to mine the longer the system operates and (at least in theory) has a peak at which no more can be found (at least within the span of a human lifetime).
    Indeed. It's at a point where the people making money are using ASICs (application specific integrated circuits, in this case chips make specifically to mine bitcoin), and even there the margins are shrinking.

  5. #5

    Default



    Here's an interesting 10 minute documentary filmed at a bitcoin farm in China.
    It seems like some people are really going big and investing in bitcoin a lot. Some brick and mortar stores around me even accept them.

    I wonder if they really are the future of currency. Probably if the currency were more stable, and investing in it would be as safe as buying Euros or Yen, then it would probably be a better way to send money than a credit card or bank transfer.

  6. #6

    Default



    Quote Originally Posted by DBBaby View Post
    anyone here of Bitcoin mining. I have a friend tring this out rite now and he is using a laptop computer and over a week has tells me he made 20$. I don't know much about this. has anyone tried this ?
    I don't believe anyone who says they could earn that amount of money using a consumer-grade laptop. CPU-mining has long been overtaken by GPU-mining, and the GPU on a laptop will almost certainly be relatively basic. Even mining on a powerful desktop PC with a couple of decent graphics cards will probably end up costing you more in electricity than you earn in Bitcoins. If you want Bitcoin to be profitable, you really need to buy dedicated hardware.

    http://www.bitcoinmining.com/getting-started/

  7. #7

    Default

    Unless your friend is talking to you from about four years in the past, he's not mining bitcoin on a consumer laptop or anything remotely resembling one. Nothing wrong with bitcoin, as it's an extremely interesting concept, but mining is only possible on an industrial scale these days, and even then it's questionable if there's any money in it currently, given the price slump.

  8. #8

    Default

    Bitcoins are last year's shark cartilage enema and will be remembered with a chuckle in the near future.

  9. #9

    Default



    Quote Originally Posted by Nam Repaid View Post
    Bitcoins are last year's shark cartilage enema and will be remembered with a chuckle in the near future.
    I still think there may be a future in bitcoin as it becomes more stable and more accepted.

    Bitcoin mining is approaching the level of traditional mining, where it requires significant investment and serious equipment. It's actually an interesting rehash of the history of gold and silver, with us witnessing the end of the early prospector stage.

    The days of people making thousands of dollars using spare CPU cycles may be done, but it can still be a viable currency.

  10. #10

    Default

    well I though I would give it a try for a mouth using my computer, I'm trying a new coin ziftr coin I'm trying ziftrcoin core wallet. pool mining. after the mouth and see if I can brake evan.

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
ADISC.org - the Adult Baby / Diaper Lover / Incontinence Support Community.
ADISC.org is designed to be viewed in Firefox, with a resolution of at least 1280 x 1024.