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Forums - General - Do you mine bitcoins ?

I've just heard about the bitcoin currency recently and how you can "mine" it yourself and produce digital money out of thin air using your own gpu at home. Trick is: you need an efficient gpu with a good MHash per watt rate, otherwise you will end up with a bigger electricity bill than the money you are mining.

You can do it alone all by yourself at home 24/7 or you can join mining guilds. No bank or entity rule its value, only miners and public perception of the value of this money. Its a new concept, but I'm kinda falling for it.

I was first introduced in 2009 and it is gaining some traction, Zimbabwe government recently officialized it as the official currency of the country. http://ireport.cnn.com/docs/DOC-957375

 

Are we on the verge of a rising digital economy ? Early adopters of this are swiming in bitcoins as we talk.

Get more info here on these video explanations:

http://theweek.com/article/index/242564/whats-a-bitcoin-watch-this-video-explanation

http://vimeo.com/63502573

and share your knowledge on the matter. I'm getting really hyped for this.



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no, energy costs are not that great in germany but if i would live anywhere with low energy costs i would do it already for years.



Big countries will never allow this to become a major currency.



No, but surprise! You're all mining bitcoins for me.



crissindahouse said:
no, energy costs are not that great in germany but if i would live anywhere with low energy costs i would do it already for years.


yeah right? There once was a documentary on ZDF I guess that showed how the price of energy and gas thats imported from other countries suddenly quadruppls or even increased tenfolds as soon as the stuff crosses the German border.

Thats what you get for privatizing essential companies.  Look at Telekom, Post, public transportation  everything is CRAP now. And the shitty EU wants to privatize WATER  too   stupid idiots.


Well back to topic  I will give this a try anyways to see how much I "farm" coins while playing games. I wont leave my PC turned on simply for this that would not make much sense. (to bad there is no WiiU app for this since the system is powerful for its low power consumption!)



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superchunk said:
Big countries will never allow this to become a major currency.

Big countries have no power over it I learned. 

Nowadays, the totall ammount of bitcoin in existence stack up to an equivalent of 100 million US dollards. There are already many digital and physical stores who accept bitcoin as a payment method.



badgenome said:

No, but surprise! You're all mining bitcoins for me.



I mine my boogers, nose hairs, dingleberries, nail clippings, dead skin cells, pubic hairs, eye lashes, and tears just for you.



I don't know about this bitcoin.

When world war 3 comes along, and our houses are rubble, and no currency is worth anything...I doubt bitcoins are going to be worth anything. I personally would stock up on silver to trade for horses, food and such.



There is way too much fluctuation in value for bitcoins to interest me. Also "mining" bitcoins takes forever I hear. What are they doing with your computer when you are "mining" bitcoins? Are they using your computer to process information or help solve cancer?



disolitude said:
I don't know about this bitcoin.

When world war 3 comes along, and our houses are rubble, and no currency is worth anything...I doubt bitcoins are going to be worth anything. I personally would stock up on silver to trade for horses, food and such.



You should be like badgenome and stock up on guns and ammo. Then you could take or trade whatever you needed with guns!