What is Bitcoin Mining?

[CDZI Nasdaq]

What is Bitcoin Mining? I have no clue what it is or how its done?

 

[bigstuffpoppin]

To my knowledge it's very hard to do but before Bitcoin blew up I guess somehow if you had a really good fast server and computer you could do it. I don't really know myself but I believe the ship has sailed on thag unless you have like a $300k computer

 

[Deleted member 186928]

What is Bitcoin Mining? I have no clue what it is or how its done?

FFS, don't be such a lazy cunt asking dumb questions that can be found easily enough using a Google search, mummy still have to wipe your ass for you?

http://lmgtfy.com/?q=What+is+Bitcoin+Mining

 

[Pakal]

This should cover the basics

https://www.youtube.com/watch?v=GmOzih6I1zs

 

[MaFiaStyle]

Don't waste time on bitcoin mining now. You will need to invest heavily on ASIC before you can see decent mining and you also need access to a lot of cheap electricity as well as good area for cooling.

 

[flowwx]

If you had been interested in mining BTCs in 2010-2011, you would have made a big chunk of money even with an average computer - nowadays, it's not worth it anymore. The best you can do is buy BTCs in bulk and expect them to increase in value - but that's too risky, and really, only those who are already well-established in the game earn money. The rest are just losing their time.

 

[coltreign]

I have thousands of dollars in bitcoin and I've also lost thousands of dollars in bitcoin. I've been playing the cryptocurrency game for a while now. Not always worth it. Just recently, for example, I invested a large amount of money in the DAO cryptocurrency as well as Ethereum. A week after I made the big investment, the DAO blockchain was hacked and I literally watched it's value tick down to almost zero. Because the DAO was built on the Ethereum blockchain, Ethereum took a hit too. In one day, I think I lost $1,200. Real bummer.

As far as BTC mining is concerned, you'd be an idiot to get involved unless you could compete with massive server farms in China that mine by the thousands 24/7.

 

[Renovo]

I think bitcoin mining is a thing of the past to make good money anyway.

 

[chichapomme]

nowadays it is a waste of time, you make just 0.0006 BTC/day for example

 

[Kei]

Best place for bitcoin mining: https://itunes.apple.com/us/app/bitcoin-billionaire/id911117141?mt=8

 

[chichapomme]

you don't really earn bitcoins with this

 

[Kei]

you don't really earn bitcoins with this

No shit sherlock

 

[Deleted member 186928]

Best place for bitcoin mining: https://itunes.apple.com/us/app/bitcoin-billionaire/id911117141?mt=8

You stupid spamfuck

 

[Elsayed galal]

Also following don't waste time on bitcoin now.

 

[castlebrwn85]

mining has gone down long time ago. Now they are big companies who mine.

 

[dh_vendor]

ASIC Mining is useless, I cloud mine and I do make money with Hashflare

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[Groovy92]

in my opinion it's better minning altcoin, because you can still use your cpu and gpu to mine. CMIIW

 

[inusa victor]

bitcoin mining doesn't really work like before anymore. you'll find out that you are spending so much time for a very small amount of btc. i think the best way to increase your btc is by engaging in genuine btc referral programs like i'm currently doing

 

[TheNumbersGuy]

bitcoin mining doesn't really work like before anymore. you'll find out that you are spending so much time for a very small amount of btc. i think the best way to increase your btc is by engaging in genuine btc referral programs like i'm currently doing

What programs are you currently doing?

 

[urviews]

i think bitcoin is a way to make money easier