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Bitcoin minning - what is it ?

Discussion in 'BlackHat Lounge' started by ANITechnologies, Aug 11, 2013.

  1. ANITechnologies

    ANITechnologies Registered Member

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    Bitcoin minning - what is it ? I've been trying to understand using Google, but that isn't working out too well. Someone willing to help ?
     
  2. Guyon Dantonio

    Guyon Dantonio Newbie

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    I can't post videos or links yet, but this gives you an idea about Bitcoin mining.

    (Btw, this is NOT my video bro)

    youtube /watch?v=GmOzih6I1zs
     
  3. lmxftw

    lmxftw BANNED BANNED

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    this is a bitcoin farm even if it's a bit outdated... you basically get paid to solve currency conversion equations
    xvE6YHS.jpg
     
  4. PageMarketingSEO

    PageMarketingSEO Regular Member

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  5. slaya212

    slaya212 Newbie

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    basically you make a computer solve problems to get more money, most people don't do it though, can be a long and annoying process unless you enjoy that kind of thing
     
  6. zacatictac

    zacatictac Power Member

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    It's a way to get bitcoins on autopilot. You must have an extremely fast GPU in order to even get maybe one bitcoin a month. It's getting harder and harder to mine bitcoins do to people buying ASIC miners. Basiccly your GPU is solving Hash codes, once you solved one you have solved a "block". A block gives you a certain amount of bitcoins when its solved. Unfortunetly it is so difficult to sovle one of these now unless you have a fast miner you cant expect to get anywhere at home. Look into Litecoins. Hope this helped, its a very complex thing and im not even sure if i understand it all. Look into bitcoin mining pools if you want to start mining,
     
  7. KELLOGGS

    KELLOGGS Supreme Member

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    Basically there is coded problem that has to be fixed but as time goes on it gets increasingly difficult to solve. It's no longer really financially viable to mine yourself as the power costs of rigs outweigh the cost you get from the bitcoins.

    Recently, people have taken to infecting computers with code that will mine secretly.