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Bitcoin Plummet

Discussion in In The News started by Ghost, Apr 10, 2013

  1. May 14, 2011
  2. Dec 6, 2011
    Always tried to figure out the exact use for this. What is Bitcoin besides another currency?
  3. Jan 11, 2012
  4. Dec 6, 2011
  5. Jan 11, 2012
    As far as I understand, people send you files that you deal with & send them back, mostly some graphical stuff.
    The stronger your ??? is the more coins you get, but yet I don't know if it's the whole power of the PC, the CPU or the videocard that does the work.
  6. Dec 6, 2011
    Do you know how many per how much power? That'd be damn nice to set up while I'm AFK.
  7. Mar 12, 2008
    if you want more info, visit the bitcoin subreddit.

    It's basically digital currency that has only as much value as people place in it. Imagine back in the day with first edition pokemon cards. They only sold for a lot because people placed value in them.

    This is more or less the same thing. It caught my interest a few months back, but the more I look at it and try to understand it the more i just get turned off to the whole deal. You can try and bitcoin "mine" with your computer but you won't make anything off of it. You need really high-end gear to even have a chance at making something worth it. Even then you would need multiple setups like you see in that video up there and it costs a ton of time and power.

    edit: @Satsukii it's dependent on CPU (sometimes) , mostly GPU, and power usage.

    Taken from the "will i earn money from mining" link on the subreddit:
    and from the top comment:
    Taters, Apr 10, 2013 Last edited by Taters, Apr 10, 2013
  8. Dec 6, 2011
    Well I'm quite sure my 2500k @ 4.0GHz and 7950 @ 1GHz and 1450 mem clock should generate at least something (my next rig will be even bigger and better).
  9. Jan 11, 2012

    You know what or how much megahash your PC has? Then calculate it. Exchangerate B/$ 1 to 157.49999
    Yeah you can't make the big money but if you have nothing else to do you can get some little little pieces from the cake
  10. May 14, 2011
    Nope. You would need an array of systems to actually "mine" anything worth while. Otherwise more people would actually do it.

    Here: http://bitcoin.org/en/download

    If you are still interested.
  11. Dec 6, 2011

    Already have that set up. And reading through a couple forums, apparently I can actually make a little scrap of something on the side.
  12. Jun 11, 2012
    lol...E-gold. I remember and lost money on it. Not much but enough to give up on it.
  13. Mar 12, 2008
    If you get free power, go for it.

    otherwise it'll cost you more in power than you will make mining.
  14. Dec 6, 2011
    So it's literally less than a dollar a day running it all day?
  15. Jun 11, 2012
    Kinda yes and no. By mining you are providing a gear that can handle the constant updating of the Bitcoin network. The faster and ease you are providing mathematical response, the better your return will be. So that 48GH guy...he's kinda set for a while in terms of finances.
  16. Dec 6, 2011
    But he pays a shitton for hardware/maintenance/power consumption, but I can see how it eventually adds up. Reading through forums, people were saying you could easily get $5-10 a day or something with a high end computer.
  17. May 14, 2011
    That may actually be true given the recent price bump. Let us know how you get along. :shock:
  18. Dec 6, 2011
    And shit, when I upgrade to two 8970's when Sea Island graphics cards release, and Haswell's 4670k comes out, I should do twice as much.
  19. May 14, 2011
    By then the price will have dropped considerably considering.