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| Thread ID: 136487 | 2014-03-04 20:51:00 | Any Bitcoin miners on this forum? | Webdevguy (17166) | PC World Chat |
| Post ID | Timestamp | Content | User | ||
| 1369416 | 2014-03-04 20:51:00 | I still don't quite get what all the fuss was about but anyways.. apparently the site was hacked (www.computerworld.co.nz ft), the coins stolen and now it is no more.. | Webdevguy (17166) | ||
| 1369417 | 2014-03-04 21:27:00 | Indirectly yes. I mine various Scrypt coins and convert them to Bitcoins then sell those. It's not something you'll get rich off and I don't really reccomend it. Recovering the cost of the hardware will be a challenge for me. I started Mid December, spent around $3k on hardware. I've made back about $1050 in earnings and had to pay about $400 in power costs so my net loss at present is about $2400 :) Not so bad when you consider I have 4 Graphics cards and 2 complete systems including windows licences that I can resell but hardly an impressive earner. I'm Just trying to break even and have some fun doing it though. As to the Story, I don't understand why anyone would trust their Bitcoins to a "Bank" in the first place. You can store them yourself in an encrypted wallet and keep a Backup. If you had a lot of them you could even set up a secure PC just for that purpose. Personally I don't accumulate them I cash out weekly so no issues here. |
dugimodo (138) | ||
| 1369418 | 2014-03-04 21:45:00 | Although $600,000 is a lot of money, it seems fairly insignificant when compared to what happened with Mt Gox. The fuss with bitcoin is that it is an anonymous way (to a degree) to move money. I would assume you also dodge a whole lot of bank fees and probably even taxes by using it. |
icow (15313) | ||
| 1369419 | 2014-03-04 21:57:00 | Although $600,000 is a lot of money, it seems fairly insignificant when compared to what happened with Mt Gox. The fuss with bitcoin is that it is an anonymous way (to a degree) to move money. I would assume you also dodge a whole lot of bank fees and probably even taxes by using it. You can try and dodge as much as you want in life, but the old adage will always remain true and that is that the only two things in life that will always be guaranteed are death and taxes... and eventually karma will bit you in the ass if you manage to dodge either of the previous for long enough. |
Webdevguy (17166) | ||
| 1369420 | 2014-03-05 02:03:00 | Well it's not so much a "tax" as it is a transaction verification fee, and that goes to the miners, not to a Govt or bank. Only ASIC miners worth doing for BTC now, given you can spend roughly double what dugimodo did and get back approx 2000x faster hashrate. I do likewise with LTC. Been going ~3 weeks, sitting on 18 LTC. Best part is their twitter page: i.imgur.com |
Chilling_Silence (9) | ||
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