Bitcoins - magic digital fairy dollars - wtf

[MrCrohns]

Has anybody been following the pricing trend of bitcoins over the last couple of weeks? It seems like it's a great way to make a lot of money, I just wish I was more technically savvy to take advantage of the system.

brb 300% increase in value in a few days
brb spending thousands to construct massive server farm to mine bitcoins
brb retiring tomorrow
brb digital ninja
brb millionaire overnight


srsly tho, anybody here actually invest in BTC? Really fascinating stuff...

[Drunkbeard]

I've been mining bitcoins for the past couple weeks, free moneh.

[InvidGurab]

One thing I never understood about mining is where are you mining them from? Are they just out there ready to be claimed or are you stealing them from another source?

[TheBlackHombre]

aware me on bitcoins

[MrCrohns]

I've been mining bitcoins for the past couple weeks, free moneh.

what's your setup like? do you have a spare bedroom full of servers or just using your main home pc? how many coins can u make in a day on avg?

[Drunkbeard]

i'm not a master miner, i'm just using my main PC for mining. I have the program running all the time, at the rate my video card mines i'll make like 150 dollars a month, but as the price keeps rising for bitcoins i could make like 200 a month for doing nothing O.O

[MrCrohns]

i'm not a master miner, i'm just using my main PC for mining. I have the program running all the time, at the rate my video card mines i'll make like 150 dollars a month, but as the price keeps rising for bitcoins i could make like 200 a month for doing nothing O.O

how do you plan to cash out?

[Drunkbeard]

what you mean?

[MrCrohns]

what you mean?

i mean how do you plan to get real USD for your bitcoins?

[Drunkbeard]

apparently you can sell them on Mt Gox, i haven't looked to much into it yet just been mining.

[Drunkbeard]

if you'd like tips on how to mine, feel free to message me.

[Errorist]

One thing I never understood about mining is where are you mining them from? Are they just out there ready to be claimed or are you stealing them from another source?

Orphan children's souls.

[MrCrohns]

apparently you can sell them on Mt Gox, i haven't looked to much into it yet just been mining.

yeah the reason I ask is because there seems to be a TON of ways to buy and sell BTC and they all seem overly risky/complicated...like having to go through dwolla, liberty reserve etc.

[Behemoko]

i'm not a master miner, i'm just using my main PC for mining. I have the program running all the time, at the rate my video card mines i'll make like 150 dollars a month, but as the price keeps rising for bitcoins i could make like 200 a month for doing nothing O.O

I wish they would have stayed at $30, I would be making over $400 a month at that rate.

how do you plan to cash out?

Make a dwolla account that links to your bank account and sell them on mtgox and use dwolla to transfer the $$$ to your bank account.

apparently you can sell them on Mt Gox, i haven't looked to much into it yet just been mining.

I've sold the 5 coins I've made so far over the past 2 days and already made back the video card I bought to mine with. I made 28 mh/s with my old card, and I make about 290 with my new one. I'm 27 cents ahead so far Its all profit from here.

[MrCrohns]

Make a dwolla account that links to your bank account and sell them on mtgox and use dwolla to transfer the $$$ to your bank account.

Eh, don't feel 100 percent comfortable doing that, but maybe Im just being paranoid

[MA5Bergey]

in for info on bitcoin mining

[MrCrohns]

in for info on bitcoin mining

its the same concept as using bittorrent to download movies - you basically have your pc run a program that does some form problem-solving and you earn bitcoins in return for your time - the coins are anonymous as they are distributed over a p2p network - they were worth less than a dollar earlier this year, lately they have been in the 20-30$/coin range - the founder of bitcoin has 1.5 million bitcoins...



someone please correct me if im wrong on anything - yes talking out my ass to sound cool on the misc

[jmc2323]

you guys pool or do you go solo?

[MrCrohns]

you guys pool or do you go solo?

not even competent enough with BTC to be aware on pool buys - care to aware?

[Behemoko]

Eh, don't feel 100 percent comfortable doing that, but maybe Im just being paranoid

I just sent the transfer to my dwolla account, I'll tell you how it goes if I remember.

you guys pool or do you go solo?

not even competent enough with BTC to be aware on pool buys - care to aware?

Pooling is referring to the mining process, and most people mine in a pool because of faster results. I'm in Slushs pool for example. That way I get a bitcoin every other day instead of 50 every few months.

[EatingPancakes]

This has intrigued me. From just taking a glance from the wiki, what mining program do you guys use?

[anotheruser]

does someone want to be awesome and share some links/programs/howtos on mining.

And to think I thought bitcoins were only good for buying drugs...

[Behemoko]

This has intrigued me. From just taking a glance from the wiki, what mining program do you guys use?

guiminer. It works so I haven't tried any other.

does someone want to be awesome and share some links/programs/howtos on mining.

And to think I thought bitcoins were only good for buying drugs...

I totally went on silk road for the lulz, but never bought anything. As of 4 or 5 days ago, the site is no longer accessible without an account, which my dumb-ass never made. Kinda raging because it made for an interesting read. If somebody here knows how to still get in without an account, feel free to share. maybe i'm just being dumb, but its asked for a username and password just to view the site every time i've tried in the last few days.

bitcoin.org

- For obvious reasons


https://en.bitcoin.it/wiki/Mining_hardware_comparison

- Helped me choose what video card to buy. I bought a cheap card that mines really well, and has completely payed itself off as off yesterday. It took like 10 days to pay itself off pretty much.

[Spungey]

Oh lordy, free money, srsly ?

My card is about 300 on that list, is that any use. Is the money you get highly based on your gfx card ?

Is it the mhash number thats important on that wiki list ?

[Burgerbuger]

fuuuuuu @ nvidia cards under performing vs Ati.

Anyone wanna recommend a decent priced ati card?

[Behemoko]

Oh lordy, free money, srsly ?

My card is about 300 on that list, is that any use. Is the money you get highly based on your gfx card ?

Is it the mhash number thats important on that wiki list ?

If by 300, you mean megahashes, you're wasting your time not mining right now, thats better than the new card I just bought does. And yes, megahashes is the important number.

[MrCrohns]

guiminer. It works so I haven't tried any other.



I totally went on silk road for the lulz, but never bought anything. As of 4 or 5 days ago, the site is no longer accessible without an account, which my dumb-ass never made. Kinda raging because it made for an interesting read. If somebody here knows how to still get in without an account, feel free to share. maybe i'm just being dumb, but its asked for a username and password just to view the site every time i've tried in the last few days.

bitcoin.org

- For obvious reasons


https://en.bitcoin.it/wiki/Mining_hardware_comparison

- Helped me choose what video card to buy. I bought a cheap card that mines really well, and has completely payed itself off as off yesterday. It took like 10 days to pay itself off pretty much.

yeah it sucks about silk road I was curious too just to check it out and was bummed when I saw the log in - in all the articles I've read it mentions that btc aren't 100 percent untraceable so also in it purely for the lulz

[MrCrohns]

Oh lordy, free money, srsly ?

looks like it....if you have a pc w/decent grfx card....

[anotheruser]

guiminer. It works so I haven't tried any other.



I totally went on silk road for the lulz, but never bought anything. As of 4 or 5 days ago, the site is no longer accessible without an account, which my dumb-ass never made. Kinda raging because it made for an interesting read. If somebody here knows how to still get in without an account, feel free to share. maybe i'm just being dumb, but its asked for a username and password just to view the site every time i've tried in the last few days.

bitcoin.org

- For obvious reasons


https://en.bitcoin.it/wiki/Mining_hardware_comparison

- Helped me choose what video card to buy. I bought a cheap card that mines really well, and has completely payed itself off as off yesterday. It took like 10 days to pay itself off pretty much.

they're reopening in July I believe. You have to be super, super, super careful with the sellers, but there are some who are respected. And, of course, you buy in small amounts. Ya, you kinda pay out the ass with shipping and all, but it prevents you from getting taken for a bunch of cash.

[Spungey]

If by 300, you mean megahashes, you're wasting your time not mining right now, thats better than the new card I just bought does. And yes, megahashes is the important number.

Damn, i was about to get into affiliate marketing to make money online but this sounds way easier.

Also why do all the Nvidia cards on that list have such shítty mshash values. I mean the equivalently powered Nvidia card to mine is the GTX460 and thats only like 66.