Ask a bitcoin miner anything

ask a bitcoin miner anything..

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ksfm.cbslocal.com/2012/04/23/how-much-are-your-body-parts-worth-on-the-black-market/
news.bitcoin.com/bitcoin-stable-euro-pound-brexit/
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how do you know where to dig

just select the best pool for the competitive hardware, for the old if you feel lucky just mine solo.

I don't know what this means but I have a desire to dig

How many computers are you using to mine?

Im jealous, thats an awesome job.
I like to imagine its not much different from old western prospecting, am I wrong?

OP what do you do with the bitcoins you find?

How much do you actually get? The best i could find with about 30 minutes of searching translated to $0.2 for a full 24 hours

how does mining work? what is the result, do you just end up with more bitcoin or something?

*$0.02

What do you use for a rig? Do you actually turn a profit?

no computers, it's not worth it, just asic

exchange it for money

do you have enough to buy her new feet?
because...

search for asic miners, the halvening just happened yesterday and the earnings go to half but it's still profitable if you can be efficient and get some money to invest.

How haven't you killed yourself after yesterday? Are you still making profit now?

when you are mining you maintain the blockchain integrity (all bitcoins transactions are registered there), so basically you cooperate so the bitcoin can exist and you get a reward in bitcoins then just sell it..

where do you run them?
since I'm in the middle of europe, electricity prices make profit completely impossible even with free hardware.

Faggot, no shit.
>not exchanging on a website for other people to buy, monopolizing a business. You would make more selling the bitcoins instead of exchanging.

i turn off the old hardware :( .. still profit but in the best scenario the half than before

ok bitcoin miner. what do you use your coins for? I have been working on a bitcoin auction site similar to ebay, and I will be launching soon. is that a service you would use, or do you do derpweb shit with it?

yeah it´s pretty hard with the actual cost of electricity, i live in mexico so it's not that expensive

How much did you have to invest? When you mine do you have to actively do anything or just make sure your machines are all up and running?

sorry i select the wrong term, i sell it on localbitcoin

just make sure the asic it´s mining and nothing more, take care of the electricity bill

i sell it to people who buy, pretty easy

Nah brah, I mean why not sell what you find for other currencies - currencies worth more than the American dollar? Then with what money you make you can hire people online from all over the world to buy and sell Bitcoins you find for other currencies, split the difference on currency trade, and turn a profit. You've started your own business.
>I gotchu fam

Where do you keep your pickaxe?

fair enough. i really wanna finish the site, but im not sure how many people would use it.. though, blockchain.info's live tracker shows that the currency is still VERY strong

Can you give me some more info about that asic thing? I'm very new to this

have you seen the volatility on bitcoin? just in a few minutes/hours can go down or up in a considerable percentage. it's not as stable as any real coin, but yep not all of the bitcoins i get are trade it, i leave some of them as a high risk investmen

Do you even know anyone on the black market? do you have any clue what is sold on the black market? Do yuo have any clue what unrestricted items any country can buy from the black market?

Stop exchanging your bitcoins for money and start exchanging them for other currencies, and repeat. Can you imagine how much some countries would pay for something like bitcoins with prices like yours'!?

mostly ebay

Are you prepared to lose 50 percent profits now that they are cutting reward in half?

it's strong but volatile, just be careful

it's hardware design just for mining, you can google it

>Checked

thats going to drive the market price up


you're right, but if i only have, say 300 hours into writing the web app... the whole thing could crash and im only out my time.

besides, the site shows the current price for two markets right in the navigation, as it is currently, so it should be a clear indicator to any users.

yep i know something about that but it's not my primary business

That's exactly what everyone is doing, which is why the volatility is so high.
The only reason bitcoins were made is because:
>People think all world economies will end
>The internet is the new world - needs a currency
>Black market, silk road, etc.
You're gambling with an imaginary currency for real world wealth and services. These things we clearly have too much of.

So my question;
What is it you really wish to buy with what you earn?

How do you get into bitcoin mining?

I've thought about it but it seemed too complicated and I didn't want to sink money into something I knew nothing about.

this whole thread is cringe

I'm already losing it

how do you compete against 1.5 exahashes/s?

ksfm.cbslocal.com/2012/04/23/how-much-are-your-body-parts-worth-on-the-black-market/
>How much is the human body worth on the black market?

The tragic price of ivory. Poachers are now slaughtering up to 35,000 of the estimated 500,000 African elephants every year for their tusks. A single male elephant's two tusks can weigh more than 250 pounds, with a pound of ivory fetching as much as $1,500 on the black market.
>How much is ivory?

Wouldn't it be easier to buy an elephant gun and kill a few elephants or rhinos than hire an assassin?

it's another income to me and kind of a hobby/game, i'm an IT engineer

read, read and then read again it's not that hard but not easy

ant miner do the work, not like days before but sure it can

Well do you ever come across counterfeit bitcoins? Like faulty codes and shit?

I prefer to stay legal, in that case why not to sell drugs or get some hookers

>buying hookers with bitcoins
lol okay, but like that's any more legal?

i'm not sure if that even exist

I had 6 antminers at my old apartment.

If you want to reenact this scenario buy 20 electric space heaters, turn them them up full blast till you're genuinely afraid of an electrical fire and sweating, then turn on an airplane propeller full throttle.

Wonderful

100% legal my friend

Was it worth it in the long run?

it's not a business for the weak for sure

My electric bill was 300 bucks a month and would sometimes go days without finding coin. That sucked.

But I made around 500 a month on average. If you have free electricty in a space you don't have to live in go for it

if you know how to be efficient, reinvest and got some luck yes it is

So are you just saving up so that in time the price skyrockets and you end up with enough money to buy an island like those guys in the articles I've read about?

Have you ever bought anything with your bitcoins?

How is the total network hashrate after the halving?

I was going to flip bitcoin but it seemed boring as a profession(way of making money?). I didn't see the long game as fitting my personality. How has your day been friend?

Can i save some cash by building my own rig? Is that even possible?

So do you use Tor?

And if you use Tor, do you use it to connect to foreign proxies to widen your search?
People always think Tor is just for cheese pizza, drugs, and hitmen.

How many btc do you have ?

How much profit a week could i make with one miner in my basement?

Not OP but that's impossible. Bitcoins cannot be counterfeit. Look at it as digital gold, it is limited to only 21 million total Bitcoins. Cannot be counterfeit. Different from gold in alot of ways, much more divisable for instance. (up to 8 decimal points)

All currencies are imaginary, the only difference is bitcoin don't have a central bank.

it's not like that but if you have a big farm it can happen like in 2013

Lel, it's more stable than the GBP and Bitcoin is the best performing, most valuable currency in the world.

news.bitcoin.com/bitcoin-stable-euro-pound-brexit/

i don't know at this time but it was predicted to get down about a 30%

I forgot to add, there will only ever be 21 million max. I suggest everyone I know to own just 1 before it's too late. If they can't, then 0.5, 0.25, etc.

You're selling yourself and future family short if you don't buy and hold one bitcoin. 7.4 billion people in the world and only 21 million bitcoin.

it's another income to me and kind of a hobby/game, i'm an IT engineer

it will be more costly

it's 100% legal, you don´t need to hide

there are some variables that can affect your income, google bitcoin calculator and get an idea.

(me again)
I'm currently in a BioPsych/Neuroscience program at my university. I was going to become a mechanical/electrical engineer and work for a tech company. Then I got sick, chronic nerve damage, and realized there are a lot of people less fortunate than me who suffer as I do daily. Except, they don't have help. I'm going to get my PHD and make a firm based on helping/treating those with Chronic Diseases on a Psychological level. The treatment will be based upon my studies on how having a Chronic disease affects the brain.

Engineering is badass, but helping people is what I want to do :]

Except for people who actually own the bitcoins...? You would be saving and lending bitcoins for future investments and interest building. Why wouldn't you? You can trust us. We're FCA Secured.

So bitcoins to you are just like Kriegerands?
You have to assume the the cycle of spending will outlast the saving, otherwise you wil eventually have nothing. And if the original creators of Bitcoin don't actually exist anymore and people have to create more, is that not counterfeit or imaginary? All your bitcoin values will plummet.

>Am I wrong?

it suppose that the real money it's backed up in gold but not nowadays

kek, fucking whiteknight

So hows your electrical bill? Is it still profitable?

White knight? Are you fucking retarded? Summerfags man.

Assuming that's true (i don't know) then who owns enough precious metal to back a worldwide currency?
>i think I know
Bitcoins aren't collateral are they?

it is grateful to know that there is still people like you in this world, i wish you the best (honestly)

...

it's a mathematical currency, it can't be change but of course it can be down to 0

It's not to hide.
How will you read the latest foreign news firsthand?
An upper advantage would lie with the person who can be everywhere at once.

The same can be said for any word currency. The money is only as valuable as people's will to use it. Since bitcoin is used for illegal activities and a lot od "private" trading I'd say they'll never collapse unless someone really tries to break them, and again the same can be said for any currency.

how the fuck can i mine with an antminer s7 using LTE internet stick?

>chronic nerve damage
I know this feel. Congrats for making something of it.

>hardware design
>no computer

it suppose that all governments have vaults, you can do some research there is a crisis in he US about this but they are trying to hide it and not only US

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Please give

Because what, 1000x people own pennies of bitcoins as opposed to the select few who own actually bitcoins?

Let's be honest here, you're mining fractions of bitcoins every good month, just enough to pay the electric bill in hopes of striking it big.
I fucking love it. That's some sick rogue shit. Moonshine jug blowing, two tooth, overall wearing, prospecting.

What pickaxe do you use?

I read somewhere that there is a recursive feature that once it gets to 21mil it will create new bitcoins that have a seperate id so once it hits 21mil it will be as easy to mine bitcoin as when they first came out, effectivly crashing the market. Not sure how credible the story I read was though so dont take my word.

Because who has the technology to mine bitcoins quickly and efficiently? And the US relies on who to run their online security, including credit tracking and online terrorism?
if there really is a crisis, it's because people are trying to start their own separate states from the US government, on their owl soil. This is anarchism 101.

Localbitcoins already exists faggot we don't need you

Dude, some local shops and plumbers and shit actually accept bitcoins for their services.

Well read
I'll tell you a short true story.
Old American mining businesses use to set up camps as large as common American cities and counties. These camps would bring in their own food and drinks. They would also have living accommodations and stores that you could buy anything you want. But with what you bought were actual currencies manufactured by the mine owners. these were companies that mined coal and shit. I live in a town that was practically founded on a local coal mining camp, they tuned the old site in a racetrack and swimming lake.

These new forms of currencies today are similar to those ancient methods of trading one commodity for another through tickets or pieces of paper that validated the trade or sell between two people or entities.

We can hope that people stop spending their bitcoins, and people make more. but these currencies will hold more value for specific country based commodities.
It's the people of the web starting their own communities. Actual fucking states. It's FUCKING AWESOME

4chin would be the fucking Sodom and Gomorrah of online communities.

I guess Google would be something similar to Babylon.

I hope you are eventually in the position I am in. Lyrica changed my life. Seeing an amazing pain psychologist my mind. Thank you.

Thank you man, hope you do well too!