1

Do you Bitcoin?

randomteddys500's Avatar randomteddys5009/1/15 6:58 pm
9/2/2015 10:47 am
randomteddys500's Avatar randomteddys500
I was curious, Who here know what bitcoin is, i'm really new to crypto currencies
and i have started bitcoin mining, so im wondering who knows about these things.

And if you dont:

Posted by randomteddys500's Avatar
randomteddys500
Level 28 : Expert Miner
15

Create an account or sign in to comment.

13

1
09/02/2015 5:24 am
Level 61 : High Grandmaster Terraformer
Ivain
Ivain's Avatar
True, exchange works better. then its all just up to timing it right, and you might even make a profit.
1
09/02/2015 10:00 am
Level 28 : Expert Miner
randomteddys500
randomteddys500's Avatar
yeah, there is a bitcoin atm near me so i used that to buy some bitcoin, to buy some things online XD
1
09/02/2015 4:56 am
Level 42 : Master Mage
Pixel
Pixel's Avatar
Bitcoin is extremely useful because:
- It is not controlled by anybody; it's controlled by everybody.
- Transaction fees are almost non existent, costing 6p to send £1,000,000.
- You can generate as many addresses as you want.
- It's pseudonymous. Tracking is impossible is you do things correctly.
- You can send as little as $0.0012 (500 satoshi, 1 satoshi is 1/10,000,000 of a bitcoin).
- No age limit. All you need is a computer and internet access.
- http://bitcoin.org/

I use it a lot.

PS: don't bother mining it. Buy it via an exchange.
1
09/02/2015 1:57 am
Level 53 : Grandmaster Network
NathanLithia
NathanLithia's Avatar
Bitmining is only useful for integrating with popular software nowdays, its how "free apps" make money i guess

say if someone made a decent and popular phone game, which seems to be rare in my opinion (great market for someone to take over atm) they could rake up a few bunch of devices for background bitmining, that's if the community is going to steer away from Clash of clans and the many "pay to grind" games out there atm
1
09/02/2015 1:37 am
Level 60 : High Grandmaster Answer
black_hat
black_hat's Avatar
I don't reckon Bitcoin is profitable to mine for the individual anymore. Sure, early on in its existence it was - but now, I surmise the only miners profiting, are the dudes with floors filled with dedicated cryptominers.
1
09/02/2015 12:26 am
Level 17 : Journeyman Miner
anonpmc1231920
anonpmc1231920's Avatar
[deleted]
1
09/01/2015 9:01 pm
Level 61 : High Grandmaster Terraformer
Ivain
Ivain's Avatar
I tried bitcoin mining for a bit, but you have to actually get separate pieces of hardware to do it with if you want to stand any chance.
The software is annoying af though, and I never saw a penny for the several months I tried with just my PC. It also slowed it down a lot.
1
09/01/2015 8:39 pm
Level 36 : Artisan Blockhead
Woodilicious
Woodilicious's Avatar
Bitcoin mining isn't worth the damage it does to your hardware. Pushing your PC to 100% use 24/7 to make fractions of cents per hour is not worth it at all.

By the time you make a respectable amount, the power bill and cost to replace the computers will overdraw the profit you've made.
1
09/02/2015 10:40 am
Level 21 : Expert Ninja
zoecGxhbmV0bWluZWNyYWZ0
zoecGxhbmV0bWluZWNyYWZ0's Avatar
If you use Raspberry pi's and ASICs, it can be well worth it.
1
09/02/2015 10:47 am
Level 28 : Expert Miner
randomteddys500
randomteddys500's Avatar
yeah, i was considering getting a antminer s3+
1
09/01/2015 8:47 pm
Level 28 : Expert Miner
randomteddys500
randomteddys500's Avatar
true but im cloud mining so i have no worries
1
09/01/2015 7:01 pm
Level 6 : Apprentice Network
iVSniperHD
iVSniperHD's Avatar
I would use it, if i knew how to use it.. lol
1
09/01/2015 7:03 pm
Level 28 : Expert Miner
randomteddys500
randomteddys500's Avatar
yeah XD
Planet Minecraft

Website

© 2010 - 2024
www.planetminecraft.com

Welcome