Anyone into cryptocoins? Bitcoin, litecoin, etc?
- Thread starter Juanitierno
- Start date
I've been interested in it for some time now, but my computer knowledge is not sufficient enough to make a good profit out of it.
I tried mining some normal bitcoins for an hour or so, just to see how fast I could mine, and it was not profitable at all, so I quit
I tried mining some normal bitcoins for an hour or so, just to see how fast I could mine, and it was not profitable at all, so I quit
Yeah, bitcoins cant be mined with normal computers anymore (you spend more in power than what you earn) because specialized hardware made PCs obsolete.
If you have a good ATI video card tho it can be quite profitable to mine for other coins, like litecoin. Specially if you already have the card you can set your computer to mine while you sleep and make some money off it.
There was a project by someone to create a crypto-based minecraft server. You would basically use the currency as ingame currency, and the idea was that you could take it with you to other servers and such. Not sure what happened to that project tho.
EDIT: Out of curiosity googled it and found this: http://craftcoin.net/
yea, you really need alot of knowledge about computers if you want to make a profit out of it...
I've a pretty damn good computer, but because I don't know alot of computers it's pointless for me to start with bitcoins, I'd just be wasting money on power rather then earning money with it
nah, it's fine. I really was just curious to see how everything worked and such
Yup, there is not enough people using the coin yet, so the market is still too easy to manipulate.
As more and more people start using it you will need many millions to move it a couple points, so it will stabilize greatly.
So far I follow/like its evolution from 3 standpoints
1) I do believe it has a potential to be "a" (not necessarilty "the") coin for the future. Its vastly superior in several aspects to normal cash and I think those will be exploited.
2) Technologically, its a very fun experiment/project! (Its sad to see TV people interview economists who cant understand why its secure or different from a scam scheme, you see them always repeating the same 3 or 4 arguments other economists like them say)
3) Even if it doenst become a mainstream coin that you can buy candy with at every shop, i strongly believe it will become a VERY strong cross-boundary online payment system (think amazon, newegg, whatever without having to worry for the exchange rate for foreign people, and much cheaper transaction fees)
I hope it becomes big!
Alright, I did some research, and do not understand cryptocoins. Can anyone please explain like you would explain to an idiot?
I'm not sure if I'm saying this right, but I think cryptocoins are smaller bitcoin networks that work similar to Bitcoin, but have their own system
...What is a bitcoin? I understand its digital currency, but how does mining them work?
well, I'm not really into that either, but it's as you said, it's a digital currency. you can mine bitcoins by taking on mathematical codes and have your computer decipher them. if your computer does it first and correctly, you'll be rewarded with a bitcoin... anyone can correct me if I'm wrong, as I've no idea if I've actually explained it right
I've been happily mining dogecoin for several weeks. It's a pretty good cryptocurrency to get into if you want something fun and easy rather than something that's all serious and stressful.
http://dogecoin.com/
http://dogecoin.com/
I always wonder... how much do normal people really make with bitcoins and cryptocoins?