Bitcoins, do you use them?

Discussion in 'The Pub' started by Deimos, Mar 15, 2012.

  1. Deimos

    Deimos Well-Known Member

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    'Aight, so for those who haven't heard before of bitcoin, you can check this out: http://en.wikipedia.org/wiki/Bitcoin

    http://bitcoin.org/

    [youtube]http://www.youtube.com/watch?v=Um63OQz3bjo[/youtube]

    So does anyone here use them? Does anyone trade? I'm curious because ive always tried to get started on this, but i keep hearing some negative feedback regarding your electricity costs at the end of each month are bigger than what you make, and that it's not worth it.
     
  2. greg770

    greg770 Nomene tengo

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    Why would I want to know what's Biticon?
     
  3. Shibby

    Shibby Womanizer

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    If you pay your own electricity, chances are it is not worth it for you because you will spend more in electricity than what you're earning until bitcoins are worth at least 10 USD again. I live on campus and I use my 7970 to mine because I don't pay electricity. I will get just 3 coins a week if I do it 24/7. It's slow as hell but its free money to buy stuff on SR.
     
  4. Deimos

    Deimos Well-Known Member

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    Damn, i'm so jelly. I remember this school teacher saying he would use his classroom with computers to farm the points. lol But, srly doesn't this look like the best scheme ever invented by the energy tycoons? Satoshi Nakamoto...you fiend!
     
  5. Shibby

    Shibby Womanizer

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    It was awesome when each coin was worth $30 USD a piece and the difficulty to mine them was next to none. Then it crashed and now the mining difficulty is higher so you don't see much payout unless you own a few rigs dedicated to mining 24/7 and you don't pay your own power. The only thing good about it now is that it's anonymous currency.
     
  6. d2sharp

    d2sharp Hot Jimmies Starship

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    But can you actually turn it into real monis.

    gib monis plz.
     
  7. Deimos

    Deimos Well-Known Member

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    Yeah, but the point is your computer over charges so much while mining for coins that at the end of year if you draw a line, you will pay more for the electricity bills than your actual worth/net profit. not to mention that you'll be damaging your pc in the process. slowly, but steady.
     
  8. d2sharp

    d2sharp Hot Jimmies Starship

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    hurting your pc? Seroiusly what the fuck does this do? I could possibly abuse it as my electricity is paid off for the next few months. Hence why I'm interesting.
     
  9. Deimos

    Deimos Well-Known Member

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    i have no idea either, im curious as well. but i dont think i need to tell you the things that could happen to your pc when it overheats. as for the bills, not sure how it all works there, but i doubt you pay your monthly fees then spend as much electricity as you want. might as well set up a solar tan system over there if so and abuse it to the fullest. xD
     
  10. WatermelonRat

    WatermelonRat Long Live Derpy

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    [SP][​IMG][/SP]
     
  11. Shibby

    Shibby Womanizer

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    You have to take measures to make sure it won't overheat. Overheating isn't really the problem unless you actually are overheating, but then you're retarded. It's people increasing the voltage of their graphics card to achieve higher overclocks which produce higher mhash speeds for mining. When your card is running such a high voltage, that voltage starts to hurt the card over time and will leak onto other components and ruin them as well. If you know what you're doing, you can find a happy medium. There is still wear and tear over time on your graphics card regardless because when you mine, your card is running at 99-100%.
     
  12. Deimos

    Deimos Well-Known Member

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    True. then again if you have a compact computer where you can't alter your coolers or upgrade it in any other way, then you have a problem. (I should seriously consider working at an internet cafe joint though lol)
     
  13. Shibby

    Shibby Womanizer

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    If you have a computer like that, mining bitcoins would be completely retarded slow and definitely not worth it.
     
  14. Deimos

    Deimos Well-Known Member

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  15. greg770

    greg770 Nomene tengo

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    Is it possible to explode a microwave by running bitcons on it?
     
  16. Shibby

    Shibby Womanizer

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  17. lanif1

    lanif1 Rawr

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    I don't use such a thing and I doubt I will.
     

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