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Old 03-05-2013, 11:34 AM   #1
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Bitcoins anyone?

Anyone on RS mining or trading or speculating Bitcoins?
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Old 03-05-2013, 11:56 AM   #2
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I almost bought one of these new super mining rigs. almost.
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nipples neways...wat is with those fuck'n asians! i mean you would think they've never seen a dentist in their life. are dentists really that rare over there in ricey ricey and? looks like they're star trek ferrengi rejects! fuck'n have broken glass for teeth! goddaymn! and the smell....did a rat crawl in there and shit itself then marinate in its own shit as it decayed?ewwwwwwwwww! i swear...if one of those ferrengi asian girls gave head...when u pull the dick out it looks like it went thru a meat grinder! prolly shaved off a few slices of meat! *shudder*
Greebo i t-boned some guy and killed their baby, it was funny
silvia i have a couple asian guy friends that do very well with the ladies. but guess what, they go to the gym, they dont have long hair, they dont wear orange pants, and they dont play counterstrike. its not the ethnicity that the girls dont like, its the style and personality.
450HP Supra I am about to use your eye sockets as a shoe rack for my nuts. ...something about chinks, j-bodys, I can't quite remember as I was drunk and looking for a girl to punch in the clit. Think of it as a digital urinal, and you are the mint, except, instead of actually smelling mint, you smell like mothballs, rotten kimchee and virginity. I'm about to start drinking heavily now and you better be gone before I get back or I swear to god I will break the internet over my knee and use the pieces to beat you in the deformed skull with, cock muffler.
Iceman-19 If your gf cooks and cleans, good, tell the guy to take a fucking hike. If she doesnt, fuck, that joker can have her. Lifes too short to cook your own meals and do your own laundry, thats what women are for!
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Old 03-05-2013, 12:31 PM   #3
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I bought some bitcoins when they were $11/btc through cavirtex.com.

Now they're at $35/btc so I might hold onto them or invest-but they were $35 18 months ago, and then the price plummeted.

Bitcoin mining is not recommended unless you have an extremely powerful PC-find odd jobs that pay in bitcoins, or just buy them with cash.
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Old 03-05-2013, 12:36 PM   #4
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Been mining for a year now on my single 7970, made quite a bit with the recent spike @$40USD/BTC. Not worth it anymore to GPU mine.
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Old 03-05-2013, 12:54 PM   #5
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where they not like a buck each last year?
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Old 03-05-2013, 01:47 PM   #6
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My knowledge about bitcoins is extremely limited, but I thought there was a finite number of bitcoins available? How does mining them work, then?
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Old 03-05-2013, 02:05 PM   #7
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I think there is only 21mill bitcoins available, fuck I have no clue how that shit works at all or how you even mine them.
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Old 03-05-2013, 02:15 PM   #8
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Data is recorded in the Bitcoin protocol through "blocks". Blocks are records of the most recent Bitcoin transactions that have not been recorded in previous blocks (think of a stock transaction ledger). When you mine a block, there is a difficult mathematical puzzle to solve-each block has unique solutions. It uses the Hashcash proof-of-work system, which is used to limit email spam and denial of service attacks. When you solve the puzzle, you get rewarded with Bitcoins. The amount of bitcoins rewarded halves every 210,000 blocks, or four years. The reward for solving the puzzle will be the first transaction recorded in each block. Additionally, each newly mined block will have a reference (or hash) to the previous block to ensure it was mined legitimately, and is added to the end of the record of all blocks, which is known as the block chain. The block chain is the database of all Bitcoin transactions and is Bitcoin's main innovation. It serves to limit spending Bitcoins twice.

A bitcoin is divisible to 8 decimal places. Once the reward for Bitcoins becomes 0.00000001, it turns into 0 when halved and no more Bitcoins will be produced. This will happen when block 6,929,999 is mined, which should happen in the year 2140. Right now there are about 224,300 blocks, and a new block is added to the block chain every 10 minutes or so. Blocks will continue to be generated without end as long as people are trading Bitcoins, since it's the record of all transactions. If you go onto Black Market Reloaded and buy some Adderall because MSP doesn't cover it, that transaction of Bitcoins will be added to the block record.

Computational power is used to mine bitcoins. You can use CPU or GPU power to mine them, with a specialized program. Unfortunately, the amount of processing power needed, combined with the cost of electricity for home miners, makes it extremely difficult to turn a profit.

For an explanation in plain English: http://codinginmysleep.com/bitcoin-m...-plain-english

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Old 03-05-2013, 02:18 PM   #9
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i have access to multiple servers, how easy is it to mine bitcoins.
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Old 03-05-2013, 02:23 PM   #10
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i have access to multiple servers, how easy is it to mine bitcoins.
Depends on the power of your hardware. Check here: https://en.bitcoin.it/wiki/Mining_Hardware_Comparison
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Old 03-05-2013, 02:49 PM   #11
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with all theses ASIC's coming out... unless you have one, there's no point trying to mine.

as soon as these become wide spread, it will be the standard for mining.

I couldn't get the first wave shipments (i calculated you'd mine like 150-300 bux a day)... but as soon as they become wide spread it becomes like 150 bux a month....

not worth it in my opinion.

in BC we do have really cheap electricity vs other places... but the costs are negligible.


if u order an ASIC now you wont get it for a few months. in my opinion that's too late.

the window of opportunity for benefiting from having an ASIC machine was the end of last year to this april/may. after that anyone GPU mining will be paying more for electricity than the amount they mine.
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nipples neways...wat is with those fuck'n asians! i mean you would think they've never seen a dentist in their life. are dentists really that rare over there in ricey ricey and? looks like they're star trek ferrengi rejects! fuck'n have broken glass for teeth! goddaymn! and the smell....did a rat crawl in there and shit itself then marinate in its own shit as it decayed?ewwwwwwwwww! i swear...if one of those ferrengi asian girls gave head...when u pull the dick out it looks like it went thru a meat grinder! prolly shaved off a few slices of meat! *shudder*
Greebo i t-boned some guy and killed their baby, it was funny
silvia i have a couple asian guy friends that do very well with the ladies. but guess what, they go to the gym, they dont have long hair, they dont wear orange pants, and they dont play counterstrike. its not the ethnicity that the girls dont like, its the style and personality.
450HP Supra I am about to use your eye sockets as a shoe rack for my nuts. ...something about chinks, j-bodys, I can't quite remember as I was drunk and looking for a girl to punch in the clit. Think of it as a digital urinal, and you are the mint, except, instead of actually smelling mint, you smell like mothballs, rotten kimchee and virginity. I'm about to start drinking heavily now and you better be gone before I get back or I swear to god I will break the internet over my knee and use the pieces to beat you in the deformed skull with, cock muffler.
Iceman-19 If your gf cooks and cleans, good, tell the guy to take a fucking hike. If she doesnt, fuck, that joker can have her. Lifes too short to cook your own meals and do your own laundry, thats what women are for!
http://ho316.tumblr.com
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Old 03-05-2013, 05:48 PM   #12
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the price went up so much the last month, it almost seem like a huge bubble again.
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Old 03-05-2013, 06:24 PM   #13
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Is this a gaming currency? I'm lost =/
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Old 03-05-2013, 06:50 PM   #14
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where they not like a buck each last year?
I think about 15-20USD.
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Old 03-05-2013, 06:53 PM   #15
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Old 03-05-2013, 07:03 PM   #16
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in BC we do have really cheap electricity vs other places... but the costs are negligible.


if u order an ASIC now you wont get it for a few months. in my opinion that's too late.

the window of opportunity for benefiting from having an ASIC machine was the end of last year to this april/may. after that anyone GPU mining will be paying more for electricity than the amount they mine.
Most RS users still live at home anyways and probably don't pay rent or have to contribute to the household so it could still be worth it for such individuals.
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Old 03-05-2013, 07:08 PM   #17
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so you mine these bitcoins and then they can used to buy things?
but... how does the mining thing work and how long does it take to get the coins???
so its based on GPU? so having the best GPU would yield the most coins?
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Old 03-05-2013, 08:33 PM   #18
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I have nVidia cards so it's not worth it
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Old 03-05-2013, 10:06 PM   #19
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If you want to mine at home, it depends on the hardware. I just posted this AMD vs Nvidia review yesterday, comparing a couple GPUs:



The 7870 does a decent job of mining... I don't know what all the rates are, so I just used this conversion calculator. According to it, mining with the Radeon 24/7 would bring in 1.45 BTC per month, worth about $62 USD a month.

Looking at the power consumption then:



It depends on the power cost of your country. For me in HK, it would cost about $17 a month to do, which is a net profit of $45 a month. In BC it would only cost about $8 a month to mine 24/7.

There is certainly more efficient hardware out there, which would be more profitable to run, but then you have to factor in the cost of the hardware itself.

IMO if you have a high end Radeon card, it might be worth mining a bit just to recover the cost of the card itself
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Old 03-05-2013, 10:11 PM   #20
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I have the radeon hd 7870 but would it be harmful to my graphic card if i was to run this 24/7 for a month?
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Old 03-05-2013, 10:13 PM   #21
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I bought a few days ago. Already made 30 bucks

https://blockchain.info/charts/market-price

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so you mine these bitcoins and then they can used to buy things?
but... how does the mining thing work and how long does it take to get the coins???
so its based on GPU? so having the best GPU would yield the most coins?
Yes but mining isn't the only way to aquire. You can buy them off people who usually charge a % for profit just like currency exchange shops. You can mine from pretty much anything. GPU is just yields better results than CPU.

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Is this a gaming currency? I'm lost =/
Think of it as another currency that isn't controlled by banks. Some really smart guy came up with a really cool way to distribute money and you can use it wherever its supported. For example... Google stripcoin (nsfw)

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Old 03-06-2013, 12:21 AM   #22
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can anyone provide a step by step on how to get started thats geared for total noobs?
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Old 03-06-2013, 12:21 AM   #23
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I have the radeon hd 7870 but would it be harmful to my graphic card if i was to run this 24/7 for a month?
no but having it at pretty much full load 24/7 (i presume) would likely mean a shorter lifespan.

For some this isn't an issue because they just use the money earned from mining to get a new card every other year.
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Old 03-06-2013, 01:25 AM   #24
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dude these ppl r nuts,
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Old 03-06-2013, 02:29 AM   #25
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Only time I heard about bitcoin is when I was reading about "deep web" and how there were merchants in there that accepted bitcoin.

E.g. You would have drug dealers, from hard-to-attain prescription drugs to weed. Interesting part was how weed was delivered via regular USPS.
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