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Bitcoin

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Bitcoin

Postby sacharlie » 11 Jun 2017, 23:27

Did a search here and nothing!
Just read that if you bought 10k of them, for pennys, 9 years ago when it was developed today they would bring over $22mil.
But where do you buy anything with bitcoin? Never noticed a payment option on amazon or ebay.
What banks exchange money for them?
Here in the USA GREED is GLORIFIED. The TOP 0.25% live off the backs of the WORKING MIDDLE CLASS.
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Re: Bitcoin

Postby Burgerman » 12 Jun 2017, 00:13

http://www.coindesk.com/information/sell-bitcoin/

Never done any of this personally. But may well be doing so soon.
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Re: Bitcoin

Postby Rye » 16 Jul 2017, 17:20

I think there are many Bitcoin Exchanges. Some of the bigger ones:

https://www.coinbase.com
https://www.bitstamp.net
https://blockchain.info/charts

Might be a bit (no pun intended) late to make millions with Bitcoin, but there are several cryptocurrencies popping up and many more will soon follow.
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Re: Bitcoin

Postby Burgerman » 29 Jul 2017, 13:18

My new hosts that we are typing on, accepts bitcoin. And cards, paypal, worldpay etc.
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Re: Bitcoin

Postby Gnomatic » 07 Dec 2017, 17:51

Bitcoin sitting around $17K on the Coinbase exchange! :shock: drunk2 drunk2
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Re: Bitcoin

Postby Burgerman » 07 Dec 2017, 20:14

I dont have any... banghead
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Re: Bitcoin

Postby Gnomatic » 07 Dec 2017, 23:06

I bought $25 worth this spring just for the hell of it. Wished I would have been a bit more ambitious! :lol:
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Re: Bitcoin

Postby Burgerman » 08 Dec 2017, 00:53

Where?
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Re: Bitcoin

Postby Gnomatic » 08 Dec 2017, 02:44

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Re: Bitcoin

Postby Burgerman » 17 Dec 2017, 16:05

Well I put 500 pounds on 8th dec. 8.5 days later its now about 800 pounds. Dangerous buying high but so far so good!
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Re: Bitcoin

Postby Gnomatic » 17 Dec 2017, 17:21

Yeah I'm thinking of dumping mine after Christmas LOL.
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Re: Bitcoin

Postby expresso » 18 Dec 2017, 21:02

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Re: Bitcoin

Postby Gnomatic » 18 Dec 2017, 21:37

He's wrong in calling Bitcoin a "scam," but he's likely right that the price could easily crash hard and soon. Since Bitcoin came on the seen, there have been several price spikes, followed by a 70%-90% crash. That's just how it goes.

Anybody buying it(especially now) should only be doing so with $$$ they are prepared to lose.
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Re: Bitcoin

Postby expresso » 18 Dec 2017, 21:53

yes -- only money you are OK loosing - or else dont gamble - everything sounds great - i can be sure with my luck - they be very bad Odds - but great for anyone who is making a quick profit - you have to really study this fast - do it and get out - that alone is giving me a headache - good luck to everyone who jumped in :thumbup:
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Re: Bitcoin

Postby expresso » 19 Dec 2017, 19:33

use this for bitcoin
Attachments
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Re: Bitcoin

Postby Burgerman » 19 Dec 2017, 20:24

Things have moved on a tiny bit!
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Re: Bitcoin

Postby expresso » 19 Dec 2017, 20:28

:lol:
Burgerman wrote:Things have moved on a tiny bit!
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Re: Bitcoin

Postby Burgerman » 19 Dec 2017, 21:31

https://www.ebay.co.uk/itm/SanDisk-Ultr ... SwBt5ZLvAf

This is 128GB and way more than 1000 times faster. Thats also 2400 times bigger storage. And at least 10,000 times physically smaller! And at LEAST 1000 times cheaper. And easier to carry.

Image

Image

:joint
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Re: Bitcoin

Postby expresso » 21 Dec 2017, 21:28

Quickie P222se - - 60ah ADD on pack -
Quickie S646se - - 105ah LifePo4 Pack + 30ah ADD ON - 135ah total
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Re: Bitcoin

Postby Gnomatic » 25 Dec 2017, 20:46

Not the best pic, but this is now a 13 GPU mining rig my nephews and I built while they're home on their Christmas break.

Image

Took some doing, flashing the BIOS of each GPU, underclocking the GPU processor and overclocking the VRAM. Puts out some heat LOL. Currently mining Ethereum. At current pricing it'll pay for itself in a few month. If prices crash, and they might, it will obviously take longer.
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Re: Bitcoin

Postby Burgerman » 25 Dec 2017, 21:03

Are those 1080s?

How do you mine?
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Re: Bitcoin

Postby Gnomatic » 25 Dec 2017, 22:44

No they are not 1080's. Although 1080's are decent miners and more power efficient. These are RX 580's 4GB, can be had for $250/unit if you hunt around and in general AMD cards are better at mining. With bios mods etc they're each running ~29Mh/s which isn't too bad.

Unless you have a full warehouse of mining rigs, you're going to need to join a mining pool to make any money. Easiest one to get going on your Windows machine is probably Nanopool.org. If you have a Coinbase account, you can use your Ethereum wallet address there to have payouts sent to that wallet.

This video gives you a basic overview how to set things up.

If you're building a dedicated mining there are dedicated mining linux distros for mining that are a bit more efficient and stable if you really want to go down the mining rabbit hole.
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Re: Bitcoin

Postby Burgerman » 25 Dec 2017, 23:43

Does the rabbit hole make money though? Or just burn watts?
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Re: Bitcoin

Postby Gnomatic » 26 Dec 2017, 01:30

Depends on how expensive your electricity is. Here's a calculator.

https://www.cryptocompare.com/mining/ca ... erkWh=0.12

I'm guessing your 1080 can get ~20MH/s if mining ethereum, maybe more, while drawing ~200W if this is accurate.

So, if paying $0.12/KWh using the above calculator with 1080 mining performance and power draw, you're pulling in per ~$38/mo per card. So that's not a great mining card. But hey, if you have one or two already, and your electricity isn't crazy expensive, it can print some $ for you.
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Re: Bitcoin

Postby Burgerman » 26 Dec 2017, 12:24

http://1stminingrig.com/nvidia-geforce- ... ce-review/

I have this.

And another in a different machine. Both water cooled. I could put both in one computer. That is by all accounts bEtter. Whats MH?
All chinese to me. Both cards clock well.
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Re: Bitcoin

Postby expresso » 26 Dec 2017, 17:39

Gnomatic wrote:Not the best pic, but this is now a 13 GPU mining rig my nephews and I built while they're home on their Christmas break.

Image

Took some doing, flashing the BIOS of each GPU, underclocking the GPU processor and overclocking the VRAM. Puts out some heat LOL. Currently mining Ethereum. At current pricing it'll pay for itself in a few month. If prices crash, and they might, it will obviously take longer.


Nice Job - - i guess this is the future - good luck :thumbup:
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Re: Bitcoin

Postby Gnomatic » 26 Dec 2017, 18:06

1070 is actually a better mining card. Hash rate is simply how many calculations your card can process per second. Essentially its processing transactions on the bitcoin or ethereum or whatever crypto network you're mining on. And recording them on a peer-to-peer ledger(aka blockchain). Think of it as a decentralized version of Visa. The miner is rewarded for processing these transactions by transaction fees, and newly minted "coins" the network randomly generates every so often. The chances of just a couple cards getting the newly generated coins are very very low which is why its best to join an online pool where profits are distributed evenly based on how much the % of processing power you are contributing to the pool. Measured in hashrate.

So a 1070 has a hsshrate of about 32Mh/s, x 2 cards = 64Mh/s. So if you're paying $0.12.KWh, and both cards are drawing a combined 250W, you're generating a hair less than $160/mo profit at current pricing.(assuming they're running 24/7) Not bad at all, and you already have the hardware.
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Re: Bitcoin

Postby Burgerman » 26 Dec 2017, 19:22

What if you are paying 16p or 20cents per kwh because your government wants to "save" the planet and subsidise thousands of fossil fueled power stations to charge your neibours 6k subsidised electric car that is all added to YOUR power bill?

You have all this to come! Can it still work at that level?

If so I am tempted to get a load more water cooled 1070s...
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Re: Bitcoin

Postby Gnomatic » 26 Dec 2017, 19:51

Just plug the figures into this(or another) calculator.

https://www.cryptocompare.com/mining/ca ... erkWh=0.20

One 1070 is going to draw 125w, with 32Mh/s of processing power. With Ethereum @ ~$750, and your electricity at $0.20/KWh, that works out to $72/mo per 1070.
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Re: Bitcoin

Postby Gnomatic » 26 Dec 2017, 20:20

Lets say your cards are duds and can only get a hashrate of 30Mh/s, and need to pull 150w per to achieve that. That still works out to $62.80/month profit per 1070 *IF* Ethereum prices hold at these levels

Now, you can mine other crypto currencies, or even dual mine something like Ethereum and Zcash to maximize profit. But for now we're just starting out mining ethereum, keeping things simple making sure the rig is stable etc. Its pretty new to us. For once it was my nephews who led the charge on our project, and its been me learning this from them. Is been fun.
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