BitCoin Miner

BobbyPropane

Dr Silly Bollox MD wrote: »

Alot of it is on the back of the Government Thieving that went on in Cyprus, alot of that Money was dodgy Russian apparently and when you look at Google Trends it is Russia thats driving the searches.

American News Sites/Reddit then constantly running stories the price rises got the dumb herd in on it, lots of them after getting burned in the last few days, Ponzi scheme is all it is.

80%+ of all trades going through the one exchange, guys with all the coins have sold all, hit the exchange with DDoS to start Panic selling, price starts to drop and when it gets down to a certain price, stop the attack and buy buy buy. It's happened a few times.

The whole thing is probably planned, rotten the whole lot of it.

Sure what trading is not planned nowadays? Thanks for the explanation

LaVail

Where could I buy 2 bitcoins lads? Have no idea about these things but would like to try em out...whats one bitcoin making in € these days?

Khannie

Most use mtgox to buy (I used bitcoin-central and found it excellent). Exchange rate is a mere google away (~86 euro to 1btc as of writing).

LaVail

Khannie wrote: »

Most use mtgox to buy (I used bitcoin-central and found it excellent). Exchange rate is a mere google away (~86 euro to 1btc as of writing).

Cheers Khannie,

appreciate the help

ED E

FYI gox is really busy the last while, you may have to wait a few days for confirms from their staff.

Dr Silly Bollox MD

Who's Building Bitcoin? An Inside Look at Bitcoin's Open Source Development

Read more: http://motherboard.vice.com/blog/whos-building-bitcoin-an-inside-look-at-bitcoins-open-source-development#ixzz2SqGRB0Qs

stephenodea01

anyone know if this is worth the money? i will run it on a raspberry pi
http://www.amazon.co.uk/ASICMINER-Block-Erupter-336MH-Generation/dp/B00CUJT7TO/ref=lh_ni_t?ie=UTF8&psc=1&smid=A1I9LN6UNLYND8
i want to get into mining but i dnt want to spend a lot of money unless it is worth it

smee again

stephenodea01 wrote: »

anyone know if this is worth the money? i will run it on a raspberry pi
http://www.amazon.co.uk/ASICMINER-Block-Erupter-336MH-Generation/dp/B00CUJT7TO/ref=lh_ni_t?ie=UTF8&psc=1&smid=A1I9LN6UNLYND8
i want to get into mining but i dnt want to spend a lot of money unless it is worth it

It'd be years before you'd get a return on your investment.

ironclaw

smee again wrote: »

It'd be years before you'd get a return on your investment.

Exactly.

Running on a Raspberry PI? :pac:

Only way your making money now is with ASIC and dedicated hardware, and even still, every day the complexity increases. Just like social networks, the ship has sailed and there ain't much point trying to hop on now.

stephenodea01

ok so thats not a worth while investment. but i saw a jalapeno for €120 and i think that would be a worth while investment?
and can i run a butterfly jalapeno 5gh/s on a raspberry pi to cut down electricity prices?

smee again

stephenodea01 wrote: »

ok so thats not a worth while investment. but i saw a jalapeno for €120 and i think that would be a worth while investment?
and can i run a butterfly jalapeno 5gh/s on a raspberry pi to cut down electricity prices?

No, bitcoin mining requires a hefty multi-core processor.

stephenodea01

nd the jalapeno doesnt have one internally? as it only conncets to the pc via usb

smee again

stephenodea01 wrote: »

nd the jalapeno doesnt have one internally? as it only conncets to the pc via usb

Yes, it's a gpu, which needs a cpu to process. A Raspberry Pi is a lightweight, it's equivalent to the cpu in a smartphone.

stephenodea01

so what would you recommend if i wanted to see profits? because my pc is real heavy on power

smee again

stephenodea01 wrote: »

so what would you recommend if i wanted to see profits? because my pc is real heavy on power

Forget mining them, it's not worth it unless you have serious power and low cost electricity. if you want a return on an investment buy some and wait for the price to rise, then sell.

stephenodea01

you think it will keep rising?

ironclaw

stephenodea01 wrote: »

you think it will keep rising?

No one can answer that question. Its like any stock. That said, BitCoin is extremely volatile. It dropped massively a few months ago and then rose again. Its not for the faint hearted. You would probably make better money playing online poker to be honest.

smee again

stephenodea01 wrote: »

you think it will keep rising?

Who knows, see this thread
http://www.boards.ie/vbulletin/showthread.php?t=2057072456

stephenodea01

but with the reopening of silk road it is supposedly to rise?

stephenodea01

i wish i got into it a year ago like my mates

ozmo

Re that amazon aisc for the rpi- Theres calculators on line -

Eg. http://www.bitcoinx.com/profit/
Could be a over 200 days til you get your 20 pounds an aisc back...

If ever.

but its a bit of a lottery and you could breakeven earlier...
Wish i had of got more into it earlier when i first heard about it it was $20 a bitcoin.

stephenodea01

Soooo after ye telling me not to get invlove in bitcoins last month the treble in price

smee again

stephenodea01 wrote: »

Soooo after ye telling me not to get invlove in bitcoins last month the treble in price

We told you buy some

returnNull

stephenodea01 wrote: »

Soooo after ye telling me not to get invlove in bitcoins last month the treble in price

they told you not to buy a raspberry pi to mine with.....

Also dont go on the internet looking for advice of randomers:pac:

stephenodea01

ahh well itll go pop like d property soon

vibe666

stephenodea01 wrote: »

Soooo after ye telling me not to get invlove in bitcoins last month the treble in price

look on the bright side, at least you're not this guy: http://arstechnica.com/information-technology/2013/11/it-pro-says-he-threw-out-7500-bitcoins-now-worth-7-5-million/

Many people have a tale of a lost or broken hard drive containing some bit of precious data they wish they could recover. But perhaps no one on the planet has thrown out a hard drive as valuable as the one James Howells says is now buried in a landfill.

According to an article in The Guardian today, Howells threw out the hard drive, "rescued from a defunct Dell laptop," this past summer. "And then last Friday he realised that it held a digital wallet with 7,500 Bitcoins created for almost nothing in 2009," the story notes.

Howells, an IT pro, says his mistake likely occurred in mid-July, at which time a single bitcoin was worth about $90. Today, the value of a single bitcoin passed $1,000 for the first time, making 7,500 bitcoins worth $7.5 million.

advertsfox

vibe666 wrote: »

look on the bright side, at least you're not this guy: http://arstechnica.com/information-technology/2013/11/it-pro-says-he-threw-out-7500-bitcoins-now-worth-7-5-million/

I don't know what's crazier, that he works in IT and just threw out a full computer without even considering checking / removing the hard drive / RAM etc or the fact that it only took him a week to do it by running the miner on an everyday Dell laptop (that he turned off because his missus complained of the noise).

He obviously knew about Bitcoins well before the surge - yet no key backups anywhere? Sickening!

Cuddlesworth

advertsfox wrote: »

I don't know what's crazier, that he works in IT and just threw out a full computer without even considering checking / removing the hard drive / RAM etc or the fact that it only took him a week to do it by running the miner on an everyday Dell laptop (that he turned off because his missus complained of the noise).

He obviously knew about Bitcoins well before the surge - yet no key backups anywhere? Sickening!

Bit coins were discussed on this forum back then, I had mined about 200 on a work machine. They are well gone now, since they were effectively worthless then. You couldn't give them away.

Username99

Dare I ask, but what the hell is Bitcoin mining?

vibe666

Username99 wrote: »

Dare I ask, but what the hell is Bitcoin mining?

http://bit.ly/sbmhRK

long story short, it *was* a way to use the spare power of your computer to make online 'money' that has turned out to be worth quite a lot of real money in the real world.

unfortunately though, the way it was designed, the more of it that exists, the more difficult it is to produce it, so now unless yoiu have a few hundred grand to invest in dedicated hardware, nobody is going to make any money mining it.

you *might* make some money trading it, but it's very volatile and could be worth nothing by next week/month/year, or double what it's worth now next week.