chad362wiley
Supreme Member
- Dec 8, 2011
- 1,341
- 848
Can someone explain to me what bitcoin mining is? I looked it up but still can't find out what it is.
Thanks
Chad
Thanks
Chad
What is bitcoin?
- Thread starter chad362wiley
- Start date
G-S-T
Elite Member
- Jan 20, 2011
- 1,762
- 9,092
A waste of time...
You can find stories of people who have invested thousands on mining rigs, (racks of processors) that they run 24/7
The majority of people barely recover their running costs, nevermind their investment.
And then when you get paid, its not even in a real currency, you have to find people who will take bitcoins as value and exchange them for something you find valuable.
You can find stories of people who have invested thousands on mining rigs, (racks of processors) that they run 24/7
The majority of people barely recover their running costs, nevermind their investment.
And then when you get paid, its not even in a real currency, you have to find people who will take bitcoins as value and exchange them for something you find valuable.
cherub
Senior Member
- Dec 18, 2006
- 973
- 576
It's a P2P electronic currency. Very in-depth beginner's guide to mining is here: https://bitcointalk.org/index.php?topic=9430.0
BTW it's very hard to mine bitcoins now without heavy-duty hardware
BTW it's very hard to mine bitcoins now without heavy-duty hardware
chad362wiley
Supreme Member
- Dec 8, 2011
- 1,341
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What is mining it? What do you have to do?
chad362wiley
Supreme Member
- Dec 8, 2011
- 1,341
- 848
G-S-T
Elite Member
- Jan 20, 2011
- 1,762
- 9,092
bitcoin is a waste of time....
unless you're selling the rigs
In the old days of the gold rush, they called it mining the miners
Freezerburn
Registered Member
- Jan 17, 2012
- 63
- 8
I think the bitcoin market pretty much crashed. It's not worth the time.
cioraneanu
Newbie
- Mar 25, 2013
- 15
- 2
Good to know... skipping this
ShadeDream
BANNED
- Nov 27, 2008
- 2,296
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Retards bumping old posts... ^^
- Sep 10, 2010
- 11,806
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Not retards actually. Just posted to say thanks to everyone who participated in this thread. It isn't a method or anything which is not recent anymore. Infact, I have been looking for the merits and demerits of bitcoin for some days. I got the definitions but not the real life experiences before I got this one. Sounds good now?
ShadeDream
BANNED
- Nov 27, 2008
- 2,296
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Definitely but that's not the thing, those insights are dated. The thread is over a year old and a lot has changed.
On the other side, if all you had to say was "Hey thanks everyone for the insights." you could have just pressed the "Thanks" button. It's there for a reason.
- Sep 10, 2010
- 11,806
- 26,658
I was drunk hehe
Yes, the rates seems be up again, so a bit back dated as I am guessing now.. Still looking for some updated resource on this...
Yes, the rates seems be up again, so a bit back dated as I am guessing now.. Still looking for some updated resource on this...
Definitely but that's not the thing, those insights are dated. The thread is over a year old and a lot has changed.
On the other side, if all you had to say was "Hey thanks everyone for the insights." you could have just pressed the "Thanks" button. It's there for a reason.