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Forums - General - Do you mine bitcoins ?

Mr Khan on 03 June 2013

The US Treasury Department regards Bitcoin as a money-laundering operation. They knocked over LibertyReserve (or whatever it was called) recently, although Bitcoin is much less traceable.

If Bitcoin can be sold for cash, this could be a worthwhile endeavor, though.



Monster Hunter: pissing me off since 2010.

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mrstickball on 03 June 2013
Mr Khan said:
The US Treasury Department regards Bitcoin as a money-laundering operation. They knocked over LibertyReserve (or whatever it was called) recently, although Bitcoin is much less traceable.

If Bitcoin can be sold for cash, this could be a worthwhile endeavor, though.


You can sell Bitcoins for cash... Its not too hard. CoinBase is a processor of BTC, and you can pull money from it pretty easily. It also makes it so that AltCoins can be mined rather easily too.

At current prices, I make about $150 a day. At times, I've been doing $500+



Back from the dead, I'm afraid.

mrstickball on 04 June 2013
Miguel_Zorro said:
mrstickball said:
Mr Khan said:
The US Treasury Department regards Bitcoin as a money-laundering operation. They knocked over LibertyReserve (or whatever it was called) recently, although Bitcoin is much less traceable.

If Bitcoin can be sold for cash, this could be a worthwhile endeavor, though.


You can sell Bitcoins for cash... Its not too hard. CoinBase is a processor of BTC, and you can pull money from it pretty easily. It also makes it so that AltCoins can be mined rather easily too.

At current prices, I make about $150 a day. At times, I've been doing $500+


A few questions..

- How much up front investment was required?

- Do you mean $500+ profit, or before electricity costs and so on.

- How much effort, if any, is required?

1. About $20,000 in total.

2. In profit. Electricity is maybe 5% of profits.

3. Viewing monitors and making sure nothing blows up.



Back from the dead, I'm afraid.

FrancisNobleman on 30 November 2013

1 bitcoin is now worth 1,226 US dollars.

Double of that when I started this thread.