Grapefruits Posted January 17, 2014 Share Posted January 17, 2014 I still don't understand this thing...Someone explain it I've been trying to figure it out for a week or so now. I found a bunch of helpful info here: http://www.reddit.com/r/Bitcoin/ So far I've managed to create a wallet: https://blockchain.info/ I've tried mining, but I've had no luck really figuring it out. Youtube seems to be a good source for info, Google as Well, but be aware of scam pages and such. There are a tonne of them. At this point, I just want to know I'm mining correctly, even if I'm not getting anywhere with it because my computer is a pos. Link to comment Share on other sites More sharing options...
î мцšт вяздк чфµ Posted January 17, 2014 Share Posted January 17, 2014 (edited) not interested, local escort declined bitcoins. surprisingly, she accepted canadian tire money. Edited January 17, 2014 by î мцšт вяздк чфµ Link to comment Share on other sites More sharing options...
Grapefruits Posted January 17, 2014 Share Posted January 17, 2014 (edited) Canadian Realtor Accepts Bitcoin Deposits for Residential Properties http://www.coindesk....epting-bitcoin/ looks more and more that Bitcoin is here to stay. Still wonder how easy it would be for the central banks to crush it like a bug though? This looks to be a good site to start mining through as well: https://bitminter.com/ Only one I've managed to figure out, and I'm actually getting results... I think, LOL! Edited January 17, 2014 by Grapefruits Link to comment Share on other sites More sharing options...
M A K A V E L I 96 Posted January 17, 2014 Share Posted January 17, 2014 I've tried mining, but I've had no luck really figuring it out. Youtube seems to be a good source for info, Google as Well, but be aware of scam pages and such. There are a tonne of them. At this point, I just want to know I'm mining correctly, even if I'm not getting anywhere with it because my computer is a pos. Mining bitcoin is a waste of time since the difficulty is so high. You can mine litecoin and make around $150 per month with a decent video card. Link to comment Share on other sites More sharing options...
Grapefruits Posted January 17, 2014 Share Posted January 17, 2014 Mining bitcoin is a waste of time since the difficulty is so high. You can mine litecoin and make around $150 per month with a decent video card. I've heard of litecoin and have read a little about it, but does it have a chance of becoming big? There are so many digital currencies trying to ride the coat tails of bitcoins it seems. Would mining be such a waste of time if a person invested in some quality mining hardware? There must be money in mining since so many are still doing it. I assume they are depending on the price to double or triple to make a profit, but it does seem possible. I've made money (and lost) money on investments before, this strikes me as an interesting opportunity, wish I would have found out about it a couple years ago. Link to comment Share on other sites More sharing options...
SabreFan1 Posted January 17, 2014 Share Posted January 17, 2014 Mining bitcoin is a waste of time since the difficulty is so high. You can mine litecoin and make around $150 per month with a decent video card. Even though I still think that virtual currency is going to bust at some point, mining Litecoin is the best bang for your electric bill buck right now. It hasn't quite matured yet, but it's worth per coin is high enough to make some cash for now. Link to comment Share on other sites More sharing options...
SabreFan1 Posted January 17, 2014 Share Posted January 17, 2014 (edited) I've heard of litecoin and have read a little about it, but does it have a chance of becoming big? There are so many digital currencies trying to ride the coat tails of bitcoins it seems. Would mining be such a waste of time if a person invested in some quality mining hardware? There must be money in mining since so many are still doing it. I assume they are depending on the price to double or triple to make a profit, but it does seem possible. I've made money (and lost) money on investments before, this strikes me as an interesting opportunity, wish I would have found out about it a couple years ago. Do not invest in mining hardware. As of right now 2 or 3 specialized rigs running several cards in each of them can easily cost you thousands. If you want to casually mine some Litecoins, think about joining a medium sized distribution pool. www.litecoinpool.org/pools As to missing out be thankful you aren't Lilly Allen. She thought she was too good to perform a small session on a chatsite a few years ago after being offered what is now today a small fortune in Bitcoins. http://www.independ...ns-9046211.html Edited January 17, 2014 by SabreFan1 1 Link to comment Share on other sites More sharing options...
SabreFan1 Posted January 17, 2014 Share Posted January 17, 2014 (edited) Is anybody else getting an "untrusted site" message from my above link? That's kinda odd for a well read news site. If so, and you are interested in the story, just Google "Lilly Allen bitcoin". The story was posted on a handful of UK news sites as well as some U.S. sites. Edited January 17, 2014 by SabreFan1 Link to comment Share on other sites More sharing options...
Grapefruits Posted January 17, 2014 Share Posted January 17, 2014 Is anybody else getting an "untrusted site" message from my above link? That's kinda odd for a well read news site. If so, and you are interested in the story, just Google "Lilly Allen bitcoin". The story was posted on a handful of UK news sites as well as some U.S. sites. Yeah I got the untrusted site thing. Just Googled it and I'm pretty sure the same site popped up with no issues. I'm sure the fact she's worth over 10 million already lessons the sting of it. My piss off with Bitcoin is that I was sitting on disability a couple years ago waiting for back surgery and Bitcoin would have made for a great hobby. My wonder with Litecoin, is there going to be enough room for 2 to make it worth while? I get that mining hardware for Bitcoin can cost a few grand, but minus the cost of hardware, would there be a profit to be made if Bitcoin takes off to where they're saying it could go? Link to comment Share on other sites More sharing options...
SabreFan1 Posted January 17, 2014 Share Posted January 17, 2014 Yeah I got the untrusted site thing. Just Googled it and I'm pretty sure the same site popped up with no issues. I'm sure the fact she's worth over 10 million already lessons the sting of it. My piss off with Bitcoin is that I was sitting on disability a couple years ago waiting for back surgery and Bitcoin would have made for a great hobby. My wonder with Litecoin, is there going to be enough room for 2 to make it worth while? I get that mining hardware for Bitcoin can cost a few grand, but minus the cost of hardware, would there be a profit to be made if Bitcoin takes off to where they're saying it could go? Like I said in an earlier post, I still remember when Bitcoin first started. It would have been cool if I mined them back then, but it was something that I really doubted would take off. Bitcoin mining is at a point where it's really not worth mining unless you are part of a mining pool coupled with your own very expensive hardware. Then, as said before, you have to consider your electric bill. As to the Litecoin issue, only time will tell how that goes. Until the Bitcoin bust hits and takes the rest of the virtual currency with it, Litecoin is your best option when it comes to mining. Fun Fact: When Bitcoin first started, the majority of people were using their CPU's to mine the coins. Link to comment Share on other sites More sharing options...
î мцšт вяздк чфµ Posted January 17, 2014 Share Posted January 17, 2014 http://www.zerohedge.com/news/2013-12-25/trip-through-bitcoin-mines http://preev.com/btc/cad Link to comment Share on other sites More sharing options...
Grapefruits Posted January 21, 2014 Share Posted January 21, 2014 (edited) Edited January 21, 2014 by Grapefruits Link to comment Share on other sites More sharing options...
Grapefruits Posted January 22, 2014 Share Posted January 22, 2014 Seattle Seahawks now accepting bitcoin: https://plus.google.com/+Bitpay1/posts/GVFubWzVmsm Link to comment Share on other sites More sharing options...
LuckyLuciano Posted January 22, 2014 Share Posted January 22, 2014 I've got 15 bit coins what do I do with them? Link to comment Share on other sites More sharing options...
SabreFan1 Posted January 22, 2014 Share Posted January 22, 2014 (edited) I've got 15 bit coins what do I do with them? Sell them. Here's a look at the current Bitcoin market figures. Canadian Market http://bitcoincharts.com/markets/currency/CAD.html US Market http://bitcoincharts...rrency/USD.html Edited January 22, 2014 by SabreFan1 Link to comment Share on other sites More sharing options...
ronthecivil Posted January 22, 2014 Share Posted January 22, 2014 Just do your research and stick with the well known sites so you don't get scammed. Use Blockchain for now until you get more comfortable with Bitcoin. If you're going to mine for Bitcoins, just keep an eye on your electric bill. If you're going to use your own cash to buy and trade Bitcoins, then be careful. Buying and trading them on an online exchange takes big cajones of steel. You then have to look at the "risk vs. reward" aspect. I would just as soon stick with safer things like forex trading or investing in junior mining and gas exploration startups. If that's too complex just take the money you would "invest" in bitcoin and put it all on black (or red, depending on how your luck works) at your local casino. If you happen to do it in vegas they will even give you a beer to either drown your sorrows or celebrate your doubling up! Link to comment Share on other sites More sharing options...
Lancaster Posted January 23, 2014 Share Posted January 23, 2014 I would just as soon stick with safer things like forex trading or investing in junior mining and gas exploration startups. If that's too complex just take the money you would "invest" in bitcoin and put it all on black (or red, depending on how your luck works) at your local casino. If you happen to do it in vegas they will even give you a beer to either drown your sorrows or celebrate your doubling up! Worst case scenario, you can claim it as a capital loss, lol. Link to comment Share on other sites More sharing options...
SabreFan1 Posted January 23, 2014 Share Posted January 23, 2014 I would just as soon stick with safer things like forex trading or investing in junior mining and gas exploration startups. If that's too complex just take the money you would "invest" in bitcoin and put it all on black (or red, depending on how your luck works) at your local casino. If you happen to do it in vegas they will even give you a beer to either drown your sorrows or celebrate your doubling up! No doubt. I keep telling people that Bitcoin is a poor investment. More power to anybody who does invest though. I personally don't have the cajones to do it. Right now some large companies are making press releases stating that they will now accept Bitcoin. They aren't doing it hoping that people will flock to them with Bitcoin "in hand", they are doing it because it's mostly free advertising. When the bubble does burst though, I'm gonna necro bump this thread to see if anybody will fess up to buying them. Link to comment Share on other sites More sharing options...
Grapefruits Posted January 23, 2014 Share Posted January 23, 2014 I've got 15 bit coins what do I do with them? You could donate them here: 12MUnP2WZgn51fJsDjXRKcSJSL8EwmiLb5 No doubt. I keep telling people that Bitcoin is a poor investment. More power to anybody who does invest though. I personally don't have the cajones to do it. Right now some large companies are making press releases stating that they will now accept Bitcoin. They aren't doing it hoping that people will flock to them with Bitcoin "in hand", they are doing it because it's mostly free advertising. When the bubble does burst though, I'm gonna necro bump this thread to see if anybody will fess up to buying them. Bitcoin has been a bad investment from the start, we've all seen how that worked out. Fact is, more and more companies are accepting it as payment. We shall see what happens. Link to comment Share on other sites More sharing options...
SabreFan1 Posted January 23, 2014 Share Posted January 23, 2014 (edited) Bitcoin has been a bad investment from the start, we've all seen how that worked out. Fact is, more and more companies are accepting it as payment. We shall see what happens. Initially Bitcoin was an excellent investment at the start, up until the point where people started using powerful video cards to mine them. In the very beginning people used CPU power to mine them. CPU's only sip power, video cards however guzzle it. Once people started to mine them that way the cost to benefit ratio started to swing into the negative. That's when more and more people jumped into using pools to mine. The thing about pools is that the more powerful your setup is, the more coin you receive. The bigger the pool becomes, the less coin you receive for your efforts if you have a weaker computer. Nowadays that leaves two options. 1. You spend a boatload of cash in equipment and energy costs in the hope that you can mine enough coin to make your investment back and earn a profit selling the coins along the way before the big players in the game cash in and the market collapses. 2. You spend your money buying the coins in the hope that their worth grows over time. Overall, Bitcoin is a rich man's game right now, and if anybody wants to play it now, they need to be ready to spend a huge chunk of change if they decide to join in. Like I said in my post above, the big companies that are accepting it are more interested in the free press. The smaller retailers that began accepting Bitcoins a while back are the ones who truly believe in it. Edited January 23, 2014 by SabreFan1 Link to comment Share on other sites More sharing options...
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