[QUOTE=demonguard;30559702]Are you 12 or something?
Also you're costing your parents more than you're making on that setup.[/QUOTE]
Well then, I'll try to BitCoin when I'm on my own.
BitCoin's easy money, but I can't let my family to get bankrupt.
[QUOTE=DanTehMan;30556837]The only thing I have trouble understanding is how Bitcoins have any value at all. This is kind of a hard question for me to phrase. Like, let's say I'm doing manual labor to dig a ditch and I'm getting payed for it. Alright, in essence I've been given money to dig a hole. However, in Bitcoins what is the equivalent? We're being given money to do what, exactly?
It would be easy to understand if perhaps this was some kind of metagame for a folding@home simulation where out CPU and GPU power was going to physically do something, but here it is literally doing nothing.[/QUOTE]
You are given bitcoins to confirm the validity of transactions occuring over the bitcoin network. Transactions are divided into chunks called "blocks" and once you find a transaction confirmation that follows a certain pattern - like having the hash start with 10 0s, you declare the start of a new block and the first transaction in each block is giving yourself 50 BTC.
Giving yourself the 50BTC, however, has to be confirmed and validated by other people before you have access to it. And hashing algorithms work one-way, so you can't just make up a transaction hash and claim it's real, because other people hashing together the same transaction will get a different hash.
[editline]19th June 2011[/editline]
so essentially you're getting money making sure other people are exchanging money legitimately.
[QUOTE=Fedly;30559830]Well then, I'll try to BitCoin when I'm on my own.
BitCoin's easy money, but I can't let my family to get bankrupt.[/QUOTE]
If you are using the computer or leaving it on all the time, then you really arent changing that much by bitmining.
[QUOTE=DanTehMan;30556837]The only thing I have trouble understanding is how Bitcoins have any value at all. This is kind of a hard question for me to phrase. Like, let's say I'm doing manual labor to dig a ditch and I'm getting payed for it. Alright, in essence I've been given money to dig a hole. However, in Bitcoins what is the equivalent? We're being given money to do what, exactly?
It would be easy to understand if perhaps this was some kind of metagame for a folding@home simulation where out CPU and GPU power was going to physically do something, but here it is literally doing nothing.[/QUOTE]
Value is assigned by the society that houses it. Gold and other precious metals have no actual practical value to the average Joe Shmo, however, Joe can trade a 1 ounce gold nugget he randomly found (without doing any labor) to John and get an 80 inch flat panel screen.
Bitcoins have a special function that other currencies do not. They are essentially an anonymous form of currency. Transactions are untraceable, and for that they have a purpose when buying goods and services from the darknet.
Gold and Silver are used heavily in electronics so saying that are useless is bullshit.
I do agree on the point that bitcoin is not that different to any other currency.
Lulz, bitcoinz have no vulue. Is just virtuallyy xDD
Yeah, and real money is just paper.
Seriously, if someone wants to trade services for BitCoins, its currency.
I have a question, can you actually exchange it for real money at a specific place? I've been looking a bit around for this, but I can't really find any answer. Is the only way to exchange them for real money making a deal with another user. I'm looking into this, as I've got 6950, and I wouldn't mind getting some extra dollars here and there for new parts and such.
[QUOTE=GoDong-DK;30561528]I have a question, can you actually exchange it for real money at a specific place? I've been looking a bit around for this, but I can't really find any answer. Is the only way to exchange them for real money making a deal with another user. I'm looking into this, as I've got 6950, and I wouldn't mind getting some extra dollars here and there for new parts and such.[/QUOTE]
[url]http://bitcoincharts.com/markets/[/url]
[QUOTE=Darkimmortal;30561575][url]http://bitcoincharts.com/markets/[/url][/QUOTE]
This is more complex than I expected, but I'll figure it out, I guess. Thanks!
[QUOTE=Nohj;30555291]Gold looks nice and can be used to make cool/useful things (you wouldnt have a cell phone without it) but Bitcoins are fictional currency that has an artificial worth.[/QUOTE]
Keyword: from a currency standpoint
Gold being useful in select electronics has nothing to do with it's value as a currency. Gold would be worth just as much as copper would if it wasn't for the fact that people put artifical worth on it.
So yes, gold is more valuble in the sense that you can use it in very limited applications. As a currency though? Both are equal.
i'm gonna kill myself
remember how i said i left my PC on sleep mode on friday? my balance on Bitclockers is 0.0974 and I can't cash out until 0.1
[editline]19th June 2011[/editline]
[QUOTE=Themage;30559101]Except gold has a actual physical presence and can be used for things.[/QUOTE]
i could say "gold isn't worth anything it's just a metal"
but i'd be wrong because it actually has value
just like BTC
So what pool is a good pool to join?
[QUOTE=darkgodmaste;30563374]So what pool is a good pool to join?[/QUOTE]
Just pick any.
[QUOTE=robmaister12;30560071]You are given bitcoins to confirm the validity of transactions occuring over the bitcoin network. Transactions are divided into chunks called "blocks" and once you find a transaction confirmation that follows a certain pattern - like having the hash start with 10 0s, you declare the start of a new block and the first transaction in each block is giving yourself 50 BTC.
Giving yourself the 50BTC, however, has to be confirmed and validated by other people before you have access to it. And hashing algorithms work one-way, so you can't just make up a transaction hash and claim it's real, because other people hashing together the same transaction will get a different hash.
[editline]19th June 2011[/editline]
so essentially you're getting money making sure other people are exchanging money legitimately.[/QUOTE]
Are the transactions that we participate in confirming bitcoin transactions? Or of another currency?
How long does it take to finish a round with 230mhas?
price just PLUMMETED to 14.5 and still dropping
buy buy buy buy
edit: down to 13!
No it's still dropping - Wait for it to start going back up, THEN buy. You won't get the *best possible deal* but you should come out pretty good.
[editline]19th June 2011[/editline]
Dropping like a fucking rock, was there some announcement somewhere? This can't be normal, it has to be some sort of news post knee-jerk reaction.
probably the largest sell order mtgox has ever experienced
Down to 10.7 as of this posting
[QUOTE=djshox;30564805]price just PLUMMETED to 14.5 and still dropping
buy buy buy buy
edit: down to 13![/QUOTE]
Hnng my dwolla account isn't set up yet and I only have .15 bitcoins
10.1 now, i don't know if this is overloading gox's servers but i can't even place trades, saying that "another trade is in progress, please retry in a few seconds"
yep, the site is overloaded "too many connections"
How do I add bitcoin s from my wallet to the site?
click on add funds and then enter the amount, has to be at least 1.0, then send the amount to the address they give
The Sell price for me still shows 13.9.
check the active charts
[img]http://img535.imageshack.us/img535/3317/sierrachart717scforexda.png[/img]
It's at 9 and still going, dear god.
Ugh, I can't add ANY funds right now. This is so painful to watch.
[QUOTE=djshox;30565235]check the active charts
[img]http://img535.imageshack.us/img535/3317/sierrachart717scforexda.png[/img][/QUOTE]
Though how would I buy Bitcoins at that price if it still shows 13.9 on the Mt. Gox site?
down to 7 as i speak, it's going to be a massive bull market for these next few days
[editline]19th June 2011[/editline]
[QUOTE=thf;30565265]Though how would I buy Bitcoins at that price if it still shows 13.9 on the Mt. Gox site?[/QUOTE]
you can enter your own desired buy price, but you'll have to wait until the market reaches that level for it to be accepted
edit: pointless now because this giant sell order going through is preventing ANYONE from trading
Down to 6... Too bad I don't have an account set up.
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