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Author Topic: Bitcoin mining?  (Read 58686 times)

  • Offline bear

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  • Offline Leon

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Re: Bitcoin mining?
Reply #16 on: June 09, 2011, 22:32:00 PM
Soon to be even rarer and worth even more! :P
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Re: Bitcoin mining?
Reply #17 on: June 09, 2011, 22:33:53 PM
Quote from: Dooms on June 09, 2011, 22:32:00 PM
Soon to be even rarer and worth even more! :P

Moral to that story, buy bitcoins now, get cheep drugs later :P
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  • Offline Dave

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Re: Bitcoin mining?
Reply #18 on: June 09, 2011, 23:49:07 PM
Quote from: Clock'd 0Ne on June 08, 2011, 18:43:57 PM
Plus, no one seems to know what's going to happen with them, there seemed to be some thoughts that they might be banned by governments because they are untraceable.

But bearer bonds or the £20 notes in your pocket are untraceable to a similar extent. They can perhaps be uniquely identified by a serial number or similar but there is no central mechanism in place for keeping track of them all or for linking any to a particular person.
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  • Offline Clock'd 0Ne

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Re: Bitcoin mining?
Reply #19 on: June 10, 2011, 00:48:47 AM
As you know this is why dodgy folk always pay cash, Dave ;)
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Re: Bitcoin mining?
Reply #20 on: June 10, 2011, 19:51:02 PM
Right, so ive installed the bitcoins app ... now what? Just looks like a simple payment / exchange app to me.

I want to mine me some bitcoins and buy something illegal!!
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Formerly sexytw

  • Offline Dave

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Re: Bitcoin mining?
Reply #21 on: June 10, 2011, 20:59:42 PM
Would be rather amusing to buy some drugs using an amount of made up currency you've generate using your GPU...
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  • Offline Leon

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Re: Bitcoin mining?
Reply #22 on: June 11, 2011, 00:09:03 AM
Geek drugs?¿! Yes please!
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Re: Bitcoin mining?
Reply #23 on: June 11, 2011, 00:21:00 AM
Quote from: sexytw on June 10, 2011, 19:51:02 PM
Right, so ive installed the bitcoins app ... now what? Just looks like a simple payment / exchange app to me.
I want to mine me some bitcoins and buy something illegal!!

you have to run something else to mine them... but i got bored before i figured out what/how
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Re: Bitcoin mining?
Reply #24 on: June 11, 2011, 01:55:20 AM
http://www.newslobster.com/random/how-to-get-started-using-your-gpu-to-mine-for-bitcoins-on-windows

bah.... you have to download all the "blocks" before you can start mining.... it takes bloody hours!... i should have been in bed hours ago, early start and lots of driving tomorrow, I'm off to bed !   (there's 128k blocks total to d/l)
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  • Offline skidzilla

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  • Offline Clock'd 0Ne

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Re: Bitcoin mining?
Reply #26 on: June 12, 2011, 00:20:33 AM
From reading, it's dipped slightly for the first time in 3 days and this writer has leapt on it. I can't see them going anywhere for a while yet until the full scale of media exposure catches up with it. Once it hits the real news networks then we will see the future of Bitcoins change.
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  • Offline matt5cott

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Re: Bitcoin mining?
Reply #27 on: September 30, 2011, 09:04:36 AM
Interesting times, this whole occupy wallstreet thing has people trading in bitcoins, also a major publication in China has now covered bitcoins and there's been a sharp rise of Chinese users.

Worth a spare few quid on mtgox if you fancy a speculative punt  ;)
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  • Offline Clock'd 0Ne

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Re: Bitcoin mining?
Reply #28 on: September 30, 2011, 09:16:43 AM
Are there actually gains to be had though? Last time we looked at this it wasn't really profitable.
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  • Offline matt5cott

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Re: Bitcoin mining?
Reply #29 on: September 30, 2011, 09:33:28 AM
Quote from: Clock'd 0Ne on September 30, 2011, 09:16:43 AM
Are there actually gains to be had though? Last time we looked at this it wasn't really profitable.

The current market price is low, speculation is based upon wider uptake which increases with media exposure, and more importantly people writing iIdiot friendly user interfaces.  Potential wise it could absolutely explode, but it's most certainly a punt.

One interesting thing is that if anyone here has looked into investment unless you have a stack of monetary assets you get crucified by fees/even bothering to look, not so with bitcoin, mtgox for example charges a maximum trade fee of 0.6%, so if you put £25 in you get 15p in fees 'oh noes'

Also I find the workings behind it absolutely fascinating, after using it and having a wallet with BTC in it and everything guvnah the potential is geniunely world changing.
Last Edit: September 30, 2011, 09:35:36 AM by matt5cott #187;
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