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Thread: Bitcoin Talk!

  1. #1
    Administrator J's Avatar
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    Bitcoin Talk!

    Here's my tiny Bitcoin rig. I just got it setup a few nights ago. It's hashing away at 1.68 GH/s. Well, less now because I gave one to Jamie.



    You're looking at 5 ASICMINER Block Erupters


  2. #2
    dimedropper
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    Last edited by loonywop; 06-28-2013 at 12:25 AM.

  3. #3
    Administrator J's Avatar
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    It generates Bitcoins! Each one of those will generate about 1/3 of a bitcoin per month!

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    Senior Member missbad's Avatar
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    K so I am trying hard to understand this, and in my defence I'm kinda computer stupid, but this is like computer, for lack of a better term, geek currency?


    Quote Originally Posted by sogs View Post
    Nothing matters but the lesbian.

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    Southern Undertaker Key West Digger's Avatar
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    My question is - is it a game?

  6. #6
    Senior Member bermstalker's Avatar
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    This is what I got doing a google search????

    Geeks have had their own ?money? for some time, but typically it is within the context of online gaming. While this digital currency does possess intrinsic value, the market for it is usually limited to other gamers. However, 2009 gave rise to another form of digital currency, bitcoin, which has demonstrated some global demand as a medium for exchange.
    http://www.howtogeek.com/141374/htg-...-does-it-work/

    If you’ve ever played a video game that allows you to collect coins and use them to purchase in-game items, then the concept of Bitcoins is an easy one to digest. Bitcoins are really just digital currency that can be used to purchase tangible items in the real world. You can, for example, buy a pair of socks with Bitcoins, or server space, or even buy Euros or U.S. dollars.

    Bitcoin is a decentralized, digital currency.
    http://inthecapital.streetwise.co/20...u-should-care/



    Last edited by bermstalker; 06-10-2013 at 05:11 AM.

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    Chin Checker g r ee n ey e s's Avatar
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    .. Fucking crazy. I want a bitcoin machine to generate money for me.


    Quote Originally Posted by MoonDancer View Post
    And apparently you fuck the mods here.

  8. #8
    Administrator J's Avatar
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    Quote Originally Posted by bermstalker View Post

    this is a good explanation for how it works.

  9. #9
    dimedropper
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    Last edited by loonywop; 06-28-2013 at 12:25 AM.

  10. #10
    Administrator J's Avatar
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    right now a full bitcoin is worth $109

  11. #11
    Senior Member ImBatman!'s Avatar
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    I tried....this is way outta my league. Thanks berm for the google search!

    J: Do like your titty pics though!
    Last edited by ImBatman!; 06-21-2013 at 06:17 PM. Reason: ETA
    "Most people do not listen with the intent to understand; They listen with the intent to reply." ~ anonymous
    "Keep calm and sing Soft Kitty"
    "it is what it is!"

  12. #12
    dimedropper
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    Quote Originally Posted by ImBatman! View Post
    I tried....this is way outta my league. Thanks berm for the google search!

    J: Do like your titty pics though!
    you sent J titty pics?

  13. #13
    dimedropper
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    Last edited by loonywop; 06-28-2013 at 12:26 AM.

  14. #14
    Administrator J's Avatar
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    i have 6 running right now. the whole thing cost about 1300. currently makes about $5.55 a day.

  15. #15
    dimedropper
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    Last edited by loonywop; 06-28-2013 at 12:26 AM.

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    Southern Undertaker Key West Digger's Avatar
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    At $5.55 a day, it'll take approximately 234.34 days to recoup his $1300.00 startup costs. How can you increase your revenue assuming it is from gaming?

  17. #17
    Senior Member bermstalker's Avatar
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    The DEA just seized somebody's. From the article, it says it's the First person

    http://letstalkbitcoin.com/post/5370...-seized-by-dea

  18. #18
    Administrator J's Avatar
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    Quote Originally Posted by Key West Digger View Post
    At $5.55 a day, it'll take approximately 234.34 days to recoup his $1300.00 startup costs. How can you increase your revenue assuming it is from gaming?
    These units are more of a novelty. They were the first to the market so they're very expensive. The ROI on them sucks. But I will be able to sell them in a few months for more than what I paid for them. Currently that's the plan.

  19. #19
    Administrator J's Avatar
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    Quote Originally Posted by bermstalker View Post
    The DEA just seized somebody's. From the article, it says it's the First person

    http://letstalkbitcoin.com/post/5370...-seized-by-dea

    BTC Bible is invoking the Freedom of Information Act.
    http://btcbible.com/dea-foia-request

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    Southern Undertaker Key West Digger's Avatar
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    Senior Member Cap-n Meow's Avatar
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    Quote Originally Posted by J View Post
    right now a full bitcoin is worth $109
    And now they're worth $99.

    How strong is the bitcoin market and what's the future look like as far as safety for your investment? I don't see why regular consumers would make the switch to bitcoins.

  22. #22
    Administrator J's Avatar
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    Quote Originally Posted by Cap-n Meow View Post
    And now they're worth $99.

    How strong is the bitcoin market and what's the future look like as far as safety for your investment? I don't see why regular consumers would make the switch to bitcoins.
    the price has large fluctuations. there's a few advantages. like nobody can seize your assets. right now banks can just seize your funds. this cannot be done with bitcoin. the cost of transactions is also very low. if i wanted to send bitcoin anywhere around the world, it cost almost nothing. transactions aren't reversible, so if you want to sell something online you don't have to worry about paypal or other things. also if you run a business that the banks don't like. right now VPN is an example, visa and mastercard are refusing service to any VPN company because of their high rate of fraud. so bitcoin is perfect to takeover for that.

    also, right now you can mine your own bitcoins. so instead of purchasing them, you can buy hardware, which will mine them for you.

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