If this is true it's funny asf
My friends and I set up a bit mining crew to get paid faster since there’s like a 100-150 minimum we have to earn. We’ve made over $100 in mining and we are investing hardcore. If you have a good graphics card and processor and you wanna join the team to earn your money faster instead of waiting a trolly amount of time add Biariuakbar Allahmajalimashmaj on Steam. Highly recommended if you are trying to make some fat $$$
@GMOD RULEZ, how exactly would this work? I might be iterested in joining since Im looking for a new pool to mine with since the nicehash crash? I have 2 980s, a 1080, a 1080ti, and an intel 7700K Id be willing to contribute?
I feel as if I've been living under a rock.. What's a bitcoin?
@Im Mom, bitcoin is an online currency. It is gained through "bitcoin mining" which is basically renting out your computer to a company to help with complex calculations. Part of the bitcoin mining is the more bitcoins that people collect, the slower you can get them. When bitcoin started, you could get 3 or 4 every hour. Now you get about a quarter of one a week. Bitcoin soared in value once people realized it could be used for illicit purchases with little to no paper trail.
@tiburon, ohhh ok. I don't believe I'll be taking part. Thanks for the info
@tiburon, digital currencies like Bitcoin and ethereum are horribly inefficient in power consumption for mining though. People set up Btc & ether mining rigs and can end up using more power in a few transactions than the typical US household uses in a month. Makes you appreciate the efficiency of centralized systems.
@TheGreatPwn, there's charts and such to get efficient miners. And the people who made any significant money got their bitcoins when they were really only worth less than a dollar each and could be made in piles of hundreds a week.
@tiburon, I tried to buy a graphics card awhile back but miners drove up the price because they were building mining rigs. Can't imagine it's worth it anymore... at least for most digital currencies. Although I know some are trying to push for greater power efficiency for transaction verification.
@tiburon, I think what also is helping this recent boom is the government of South Korea banned the creation of any more forms of e-currency
5 minutes later: thats it james stop calling me
For those who actually know something about it...would you recommend buying Bitcoin right now? I'm genuinely interested.
@whiteemikee, I'm pretty sure it's not legally valid currency, and if you use it to purchase items in the US you are committing tax fraud.
I could be wrong though.
@whiteemikee, it's the future of currency, will probably replace the us dollar as a global currency in the next 50 years. It has grown 400% in just the past 2 months. If you had bought a whole bunch a few years ago when they were cheap you would be a multi millionaire by now. So yes check out Bitcoin and other alt coins .
@whiteemikee, imho it's been growing a bit too big too fast. At this point I'd take caution investing in something with that much growth because it's starting to look like a bubble ready to burst.
@Komrad Krunch, what he said, you invest while it's still growing
@whiteemikee, it’s not even really worth mining anymore (at least casually), since the difficulty of mining is increasing at an absurd rate. For 90% of people, the electricity and wearing down of your GPU costs more than any bitcoins you’ll earn from said mining.
@whiteemikee, at this point I wouldn't say throw your life savings into it but if you have little extra cash or maybe something you want to raise money to buy try doubling your cash a little bit buy a few pieces and see how it does it. Just
@Komrad Krunch, It's for sure due another crash... the truly interesting thing to look at is the block chain though. That right there is the future of our economy.