DailyDi Posted February 23, 2015 Share Posted February 23, 2015 Restarting my bitcoin mining thread that got lost in the reboot yesterday. Link to comment
LittleMegan Posted February 23, 2015 Share Posted February 23, 2015 Can someone explain all this to me? I never got bitcoin or how you mine. Link to comment
DailyDi Posted February 24, 2015 Author Share Posted February 24, 2015 Can someone explain all this to me? I never got bitcoin or how you mine. Link to comment
LittleMegan Posted February 24, 2015 Share Posted February 24, 2015 I understand that much. What is the work exactly though? Do you just generate new coins? How is it a stable currency? Link to comment
Santiago Posted February 24, 2015 Share Posted February 24, 2015 It is far from a stable currency with wild fluctuations over the value of a bitcoin even over a period of a few minutes... Link to comment
SunOfSheep Posted February 24, 2015 Share Posted February 24, 2015 The 30$ miners never break even and the USB ones are worthless now, back in the day they wear good. Link to comment
DailyDi Posted February 24, 2015 Author Share Posted February 24, 2015 I'll be running an Antminer S3+ as of Thursday Link to comment
DailyDi Posted February 28, 2015 Author Share Posted February 28, 2015 Got the new rig up and running. Very happy with it. It's much quieter than the small one despite being 15x as powerful. And it's a standalone rig not connected to my computer so I can plug it in to the network and just let it run. Did a 12 hour test last night and it mined continously with no errors. Link to comment
Darkfinn Posted February 28, 2015 Share Posted February 28, 2015 You do realize that the whole bitcoin thing is borderline illegal and being heavily monitored by governments around the world. Not exactly something to dabble with. Link to comment
DailyDi Posted February 28, 2015 Author Share Posted February 28, 2015 Not illegal at all unless you are using it for illegal purposes, which I am not. My bitcoin will be sold for cash, or used for computer hardware from reputable sites. Link to comment
tommyp Posted February 28, 2015 Share Posted February 28, 2015 I heard on the Joe Rogan Experience about this. Just looked it up and there are some restaurants that accept it. http://bitcoinrestaurants.net Link to comment
DailyDi Posted February 28, 2015 Author Share Posted February 28, 2015 You can even join our paysites with bitcoin as verotel takes it Link to comment
DailyDi Posted March 4, 2015 Author Share Posted March 4, 2015 0.23832538 earned now. About $65 US Link to comment
SunOfSheep Posted March 5, 2015 Share Posted March 5, 2015 Bitcoin is no more or less legal then any other currency, Sadly some bad apples have used it for shady things witch gives it a bad name. Every currency has Link to comment
Baby Brian Posted March 5, 2015 Share Posted March 5, 2015 Bitcoin is no more or less legal then any other currency, Sadly some bad apples have used it for shady things witch gives it a bad name. Every currency has Link to comment
robert_dl Posted March 6, 2015 Share Posted March 6, 2015 Might have to look into this, back in the day I used to earn a fair bit 'promoting' ab/dl websites (aka partner programs) - never had to declare a cent, because the money was generated from an overseas source, and paid into an overseas account. Wonder if I could wangle bitcoins into a similar category - for instance if I earned coins from a server hosted outside my country through automation hosted outside my country, then technically I am not earning that income in my country, so probably no problem! Link to comment
DailyDi Posted March 7, 2015 Author Share Posted March 7, 2015 Had a good night last night, now up to 0.418 bitcoin (about $115) Link to comment
DailyDi Posted March 20, 2015 Author Share Posted March 20, 2015 Made it to .54 bitcoin ($140 or so) then ended up spending it for a better miner, so back down to .2 now lol Link to comment
DailyDi Posted March 30, 2015 Author Share Posted March 30, 2015 I officially have a bitcoin! Almost 1.4 actually Link to comment
Jamesy Posted March 30, 2015 Share Posted March 30, 2015 Ok, 10 days to mine 1.2 Bit Coins. I see this will never be a source of revenue for your retirement fund. Possibly you may need a few more mining machines? Link to comment
DailyDi Posted March 30, 2015 Author Share Posted March 30, 2015 purely a hobby. Have a higher power miner coming though. Link to comment
dlsmd Posted March 31, 2015 Share Posted March 31, 2015 i bet there is someone that has a bitfarm farm running Link to comment
~*PrincessZozo*~ Posted March 31, 2015 Share Posted March 31, 2015 I used to mine when GPU's were king and ASICs just hit the market. Made about 21btc in my time. Link to comment
DailyDi Posted April 17, 2015 Author Share Posted April 17, 2015 I used to mine when GPU's were king and ASICs just hit the market. Made about 21btc in my time. Link to comment
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