http://www.youtube.com/watch?v=Um63OQz3bjo
Do you have a decent computer, or more than one computer? Are you on a desktop? Will you not be doing anything for a while?
Then you should totally help everyone out. We [Sean, Wolfy and I] have created a bitcoin mining group, what this means is that we contribute to help make bitcoins. We will share the bitcoins with whoever helps, because the more people who help, and the more computers that are used, the faster and easier these bitcoins can be made and shared among us. If you are interested, talk to Me, Sean or Wolfy and we'll discuss how we can go about this, how many hours you should mine, explaining everything, ectectect.
Bitcoins are currently worth $649, and are expected to go down soon, so if you can help, please do so soon.
Quote from: Nazo on November 18, 2013, 07:27:16 AM
http://www.youtube.com/watch?v=Um63OQz3bjo
Do you have a decent computer? Are you on a desktop? Will you not be doing anything for a while?
Then you should totally help everyone out. We [Sean, Wolfy and I] have created a bitcoin mining group, what this means is that we contribute to help make bitcoins. We will share the bitcoins with whoever helps, because the more people who help, and the more computers that are used, the faster and easier these bitcoins can be made and shared among us. If you are interested, talk to Me, Sean or Wolfy and we'll discuss how we can go about this, how many hours you should mine, explaining everything, ectectect.
Excuse me for being a bit skeptical.
what do you mean by "mining" bitcoins?
Quote from: {Your Lovely Kyo}~ on November 18, 2013, 07:33:40 AM
what do you mean by "mining" bitcoins?
So a server sends a mathematical equation to your computer, depending on how fast your computer solves the equation, you get a bitcoin, if you're too slow, then someone else gets it. That's what mining is, your computer attempting to solve a problem and send it in before anyone else's computer can.
And this earns us money...how...?
Quote from: jkid101094 on November 18, 2013, 07:41:22 AM
And this earns us money...how...?
When your computer solves an equation correctly, you gain a fraction of a bitcoin, depending on the current market. When you have enough bitcoins, you can cash out and translate the electronic currency to your country's currency to use wherever you see fit. It's 100% legal and is approved by several countries across the world. You can also decide to keep your bitcoins as bitcoins and spend them like that.
So I can make money by sitting on my ass and letting my computer do what it does normally? Once again, excuse me for being skeptical but it seems really unlikely that governments are going to give people money for having fast computers. It makes no sense to me.
Quote from: jkid101094 on November 18, 2013, 07:49:41 AM
So I can make money by sitting on my ass and letting my computer do what it does normally? Once again, excuse me for being skeptical but it seems really unlikely that governments are going to give people money for having fast computers. It makes no sense to me.
It's not given to you from the government, it's given to you from other computers that generate it while mining. You're also generating bitcoins for others while mining. It's only government enforced for online trade seeing as it's the one of 6 decentralized online currency. The reason why it's so good is that you can use it in any country and it would be worth the same thing. So instead of, with normal currency, $20 here won't equal the same in say, zimbabwe. But with bitcoin it would equal the same thing here as it would in zimbabwe, england, pakistan, china, ectectect
But then who converts it? From my understanding the process goes like this;
>You computer connects to a server to send data back and forth.
>If your computer is fast enough you get a fraction of a 'bitcoin' which can also be taken from you by other computers.
>Once you have a bitcoin it can currently be cashed it for $649 worth of your countries currency.
So when you cash in a bitcoin, where does that money come from? Aren't you a little skeptical about a system that openly allows other computers to access your information? Aren't there a stupid amount of exploits?
Quote from: jkid101094 on November 18, 2013, 08:03:33 AM
But then who converts it? From my understanding the process goes like this;
>You computer connects to a server to send data back and forth.
Yes, it does.
Quote from: jkid101094 on November 18, 2013, 08:03:33 AM
>If your computer is fast enough you get a fraction of a 'bitcoin' which can also be taken from you by other computers.
Yes and no, the first part is correct, but the second part is false, others can't take your own personal pool of bitcoins, they generate for you and you generate for them. once you have it saved there's no way anyone can take it unless you gave it to them or they copied down your hash, which should be next to impossible. It's like a password.
Quote from: jkid101094 on November 18, 2013, 08:03:33 AM
>Once you have a bitcoin it can currently be cashed it for $649 worth of your countries currency.
So when you cash in a bitcoin, where does that money come from? Aren't you a little skeptical about a system that openly allows other computers to access your information? Aren't there a stupid amount of exploits?
That money is already there, it doesn't poof out of nowhere. Others don't connect to your computer directly as I said above. And any exploit is found almost immediately and the people who maintain the system are fast as all hell in getting a patch out to fix it.
So if the money doesn't just poof out of nowhere, where does it come from?
Quote from: jkid101094 on November 18, 2013, 08:22:57 AM
So if the money doesn't just poof out of nowhere, where does it come from?
That's the hard part to explain, as I have an Idea but have no way to explain where it comes from. The person to explain something like that would be MT. He knows alot more about economics than I do and how this type of stuff works.
Hahaha, good luck. A 'decent computer' isn't gonna cut it to mine anything these days, and it'll only get harder and harder to mine Bitcoins the more time goes on. Unless you have a dedicated mining rig (http://assets.sbnation.com/assets/1742045/bitcoin_mining_with_fans_tumblr.jpg) you're just wasting your time.
Quote from: Elija2 on November 18, 2013, 09:35:52 AM
Hahaha, good luck. A 'decent computer' isn't gonna cut it to mine anything these days, and it'll only get harder and harder to mine Bitcoins the more time goes on. Unless you have a dedicated mining rig (http://assets.sbnation.com/assets/1742045/bitcoin_mining_with_fans_tumblr.jpg) you're just wasting your time.
Well i'm wasting my time then. Because if I can get something out of this then I will.
Nope, with my electric bill, I can't afford to have my desktop on all the time.
Quote from: Nazo on November 18, 2013, 10:40:19 AM
Well i'm wasting my time then. Because if I can get something out of this then I will.
But you won't. Besides, aren't you already rich? Why don't you just buy some the next time their value crashes?
Quote from: Elija2 on November 18, 2013, 11:06:02 AM
But you won't. Besides, aren't you already rich? Why don't you just buy some the next time their value crashes?
He spent all his money on friend chicken and watermelons.
Quote from: Elija2 on November 18, 2013, 09:35:52 AM
dedicated mining rig (http://assets.sbnation.com/assets/1742045/bitcoin_mining_with_fans_tumblr.jpg)
Elija, be serious. Nobody needs 6+ fucking Radeon cards to make a decent amount of money through bitcoins.
Quote from: jkid101094 on November 18, 2013, 11:07:13 AM
He spent all his money on friend chicken and watermelons.
(https://dl.dropboxusercontent.com/u/11408288/Neuer%20Ordner2/D4qrQmL.gif)
Quote from: Elija2 on November 18, 2013, 11:06:02 AM
But you won't. Besides, aren't you already rich? Why don't you just buy some the next time their value crashes?
That was a long time ago. I'm broke.
Quote from: Wolfy on November 18, 2013, 12:46:18 PM
Elija, be serious. Nobody needs 6+ fucking Radeon cards to make a decent amount of money through bitcoins.
Let me know how much money you make with your cruddy PC.
Quote from: Elija2 on November 18, 2013, 03:48:57 PM
Let me know how much money you make with your cruddy PC.
>mfw wolfy has one of the best rigs on this site
Quote from: Nazo on November 18, 2013, 05:34:12 PM
>mfw wolfy has one of the best rigs on this site
As I said, that still wouldn't be good enough. Even if he makes a dollar, he'd likely spend twice as much on the electricity he uses up.
Quote from: Elija2 on November 18, 2013, 05:50:17 PM
As I said, that still wouldn't be good enough. Even if he makes a dollar, he'd likely spend twice as much on the electricity he uses up.
I seem to be the only one in the whole entire world that doesn't pay for electricity.
Quote from: Wolfy on November 18, 2013, 12:46:18 PM
Elija, be serious. Nobody needs 6+ fucking Radeon cards to make a decent amount of money through bitcoins.
(http://stickerish.com/wp-content/themes/mio/sp-framework/timthumb/timthumb.php?src=http://stickerish.com/wp-content/uploads/2011/09/SuspiciousGuyBlackSS.png&h=500&w=500&zc=2&q=100&a=c&s=&f=&cc=&ct=)
Or do they...?
Quote from: Nazo on November 18, 2013, 05:58:33 PM
I seem to be the only one in the whole entire world that doesn't pay for electricity.
How do you have electricity then?
I can start continuously helping out around the beginning of January. I will have a strong build by then and I should have internet at my place again cause my mom is finally kicking my dad out. I usually have all my stuff on for very long periods of time and if there is at least a tiny chance at making profit by sitting on my ass, then I'm more than willing to help.