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Bitcoins?


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8 replies to this topic

#1 Quantum41

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Posted 12 November 2013 - 02:02 AM

Ok so I have been hearing loads and loads about these bitcoin things. I really want to know what they are, how they work and what is there point, and further on, what will they do for me? 

 

Thanks! :)


Edited by hamluis, 12 November 2013 - 02:13 PM.
Moved from Win 7 to Gen Chat - Hamluis.

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#2 TsVk!

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Posted 12 November 2013 - 03:09 AM

they are an imaginary digital currency that is secured by group verification of transactions. the only thing you need to trade bitcoins is a bitcoin wallet, which is basically an encrypted archive that keeps your bitcoin keys. you can trade them for pretty much anything that people are willing to accept them for.

 

the beauty of it is all transactions are anonymous.

 

the weakness of it is there is no actual value, just perceived value. It has been tried before and people have lost huge swags of money, though never as successfully. it is a VERY volatile currency and you should not put your life savings in it.



#3 Quantum41

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Posted 12 November 2013 - 03:23 AM

Hmm Aight interesting! :) thanks for the reply.

Also I wanted to ask about bitcoin mining. How does that work? And basically if it's as simple as run the program and get coins and sell them... Isn't it easy money? But easy money doesn't really exist so what's the catch?

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#4 noknojon

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Posted 12 November 2013 - 03:32 AM

Bitcoin - Wikipedia, the free encyclopedia
how to get bitcoins
bitcoins exchange rate
 

Take your choice, or Google it for more -   :devil:



#5 Quantum41

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Posted 12 November 2013 - 03:39 AM

Lol thanks for the links but I posted this after I already looked over all of that. I am looking for information on bitcoin mining. I want to mine with my Gpu and I tried it and currently can mine at 110 MH/s. Idk if this is good, bad, awful.

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#6 TsVk!

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Posted 13 November 2013 - 04:00 AM

Bitcoin mining often costs as much in electricity as it earns. The best way to do it is build a botnet and mass array it. Of course that is completely illegal.

 

here's a guide for beginners

 

http://startbitcoin.com/



#7 Animal

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Posted 13 November 2013 - 01:06 PM

Masive Bit Coin Mining looks like this:

ku-bigpic.jpg

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#8 TsVk!

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Posted 13 November 2013 - 07:32 PM

Awesome pic Animal! great share! Amazing array!



#9 Quantum41

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Posted 14 November 2013 - 03:48 AM

Yea I've seen that pic a few times. That's crazy expensive

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