Facekicker Posted October 4, 2013 Report Share Posted October 4, 2013 Bitcoins = reward for your computer solving a complicated math problem. Difficulty has risen beyond using your desktop computer, now it takes specialized hardware. On the Silk Road thing, because of the confiscations of DPR's computers, the feds removed 26,000 Bitcoins from the current circulating 11 million. The two points to consider are, first, when availability of a commodity lessens, value generally increases albeit not immediately in all cases. Secondly, any drop in BTC value as a result of the bust were people getting scared and selling low, it took only a day to recover about 10% of the 15% dip - there are and were plenty of people to replace those that backed out of BTC: The market will rise back where it was, and likely higher. 2002 Monte Carlo Started a build log Fi, DC, Mechman, XS Power Link to comment Share on other sites More sharing options...
Ram Posted October 31, 2013 Report Share Posted October 31, 2013 I've become really interested in this the past few days. Anyone have suggestions on equipment to use? I've seen ASIC equipment for sale but the investment is so enormous and I just want to use something to start out and let run. What do you guys suggest? Link to comment Share on other sites More sharing options...
Nightshade Posted October 31, 2013 Author Report Share Posted October 31, 2013 I've become really interested in this the past few days. Anyone have suggestions on equipment to use? I've seen ASIC equipment for sale but the investment is so enormous and I just want to use something to start out and let run. What do you guys suggest? I honestly reccomend getting a rig that runs at least 80g/hs. If not it won't be worth your time since the difficulty is so high. I've been using a 16g/hs rig and making around .18 btc a day. Which turns out to be about 5.4 btc a month. With the price at right around $200 a bitcoin I am making about $1000 a month and then I have to pay for electricity out of that. I paid $2200 for the rig and I'm going to sell it soon because the difficulty is going up again soon and my machine won't be worth a shit. There are some rigs coming out that do 600g/hs and can make you over a grand a day. 2013 VW Jetta GLI 2.0 Turbo 1 Sundown Audio SCV2000 1 Sundown Audio X15 V2 1 XS Power D3100 Audio Control LC6i Stock Deck 146.4 sealed on the dash at 37hz 2001 Focus ZX3: RETIRED Team Sundown Audio, Team XS Power, 2 time NSPL Car 3601-Up Champion, 2 time NSPL Car Hardcore ChampionHighest NSPL Scores to date:154.3db on the dash sealed at 46hz, 156.2db in the kick at 46hz155.2db unofficial on dash at 43hz Link to comment Share on other sites More sharing options...
Tribe Called Bass Posted October 31, 2013 Report Share Posted October 31, 2013 It's a good idea, but A LOT of black markets thrive of this currency. The most popular black market, silk road, was recently busted...brought down bit coins currency down quite a bit.. Link to comment Share on other sites More sharing options...
Facekicker Posted October 31, 2013 Report Share Posted October 31, 2013 I've become really interested in this the past few days. Anyone have suggestions on equipment to use? I've seen ASIC equipment for sale but the investment is so enormous and I just want to use something to start out and let run. What do you guys suggest? Buy BTC right now instead. I'm serious. The only option for you at this moment without getting something free and be profitable is to buy BTC for USD on an exchange, or even better, face to face. I can go into more detail if you want. I honestly reccomend getting a rig that runs at least 80g/hs. If not it won't be worth your time since the difficulty is so high. I've been using a 16g/hs rig and making around .18 btc a day. Which turns out to be about 5.4 btc a month. With the price at right around $200 a bitcoin I am making about $1000 a month and then I have to pay for electricity out of that. I paid $2200 for the rig and I'm going to sell it soon because the difficulty is going up again soon and my machine won't be worth a shit. There are some rigs coming out that do 600g/hs and can make you over a grand a day. I don't believe you, please, no offense. I am an experienced miner and I have many banks of machines mining. A 20gh/s bank will yield ~0.05 BTC every 24hrs which is around $10 daily. Something is wrong with your calculations, or you're in a pool that doesn't share fairly (?? wouldn't exist) so I would like to know what you've done to come up with that amount. You're right about the current value and the 600gh machines though. I have one. It produces about 1.2-1.4 BTC daily. Just over $200 a day, not $1000. It's a good idea, but A LOT of black markets thrive of this currency. The most popular black market, silk road, was recently busted...brought down bit coins currency down quite a bit.. Check out my post at the top of this page. I called it. Value was at $140 days leading into Silk Road bust. It dipped for a few days and was right back to $140. Today they are at $200 per BTC. Silk Road was nothing, nothing, to do with Bitcoin as a whole. 2002 Monte Carlo Started a build log Fi, DC, Mechman, XS Power Link to comment Share on other sites More sharing options...
DubNDodge Posted October 31, 2013 Report Share Posted October 31, 2013 Buy BTC right now instead. I'm serious. The only option for you at this moment without getting something free and be profitable is to buy BTC for USD on an exchange, or even better, face to face. I can go into more detail if you want. Please '01 Dodge Stratass Sealed Trunk Build Log 2008 Honda Fit Sport Build Log On 10/3/2013 at 10:00 AM, ROLEXrifleman said: Anyone who says they knew everything they wanted out of life at 19 can go suck a bag of dicks cause they are lying to themselves or brought up in a cult. Link to comment Share on other sites More sharing options...
KiKaZz74 Posted October 31, 2013 Report Share Posted October 31, 2013 Jw. How would I know what my computer is doing g/hs wise? I doubt I'd do it but could be fun to bs with. Msi raedon 7870 ghz and overclocked. Amd fx8350 8core. Or is this shit and not even remotely worth it? My SPL to SQ Build Log Vehicle:1997 Dodge Dakota Ext Cab 4x4 2009 Dodge Journey SXT5.2L V8 Magnum 3.5L V6 Stock AltEquipment: Headunit- Alpine CDE-147BT Mids/Highs Amp- JL Audio G6600 Class AB 6 Channel Sub Amp- Hifonics BRZ1700.1D @ 2 Ohms Taramps DSP3000.1D Sub- Hertz Hi Energy 12" HX300D SounDrive SDA3 12 Tweeters- Rockford Fosgate Power Series Silk Domes Hertz Hi-Energy Mids- Dayton Audio Reference 4" Full Range Drivers Midbass- Silver Flute 6.5" Hertz Hi-Energy 6.5" Processor- MiniDSP 2x4 RCA- 6 channels of SounDrive HF series Wire- EB Flex 2/0 -Member of Team SounDrive Link to comment Share on other sites More sharing options...
Nightshade Posted October 31, 2013 Author Report Share Posted October 31, 2013 @ Facekicker, I don't care if you believe me or not. Between my brother and I we are running a total of416 g/us. The 16 is mine and the 400 is his. The setup is at my house and I pay for all the electricity. This is why I get .18btc a day. He keeps the other .35btc a day. We don't mine in a pool and this is our average. The reason he gives me that is because I pay for electricity, attend to the machines, and he is my brother. So don't believe me if you don't want. Sorry I didn't give all the details but its really not anyone's business why I get a .18 payout per day but since you want to doubt me this is why. If you still don't believe me run the numbers and you'll see I'm right but whatever I could care less about your opinion. I'll spend my money I make and not give a shit about what others think. Have a nice day and happy mining. Also I forgot about the difficulty change a month or so ago and has effected the profitability. We were making quite a bit more. Also this is when I checked on the newer rigs and honestly haven't crunched the numbers since then when we were looking at getting a third rig that did 600 g/hs. 2013 VW Jetta GLI 2.0 Turbo 1 Sundown Audio SCV2000 1 Sundown Audio X15 V2 1 XS Power D3100 Audio Control LC6i Stock Deck 146.4 sealed on the dash at 37hz 2001 Focus ZX3: RETIRED Team Sundown Audio, Team XS Power, 2 time NSPL Car 3601-Up Champion, 2 time NSPL Car Hardcore ChampionHighest NSPL Scores to date:154.3db on the dash sealed at 46hz, 156.2db in the kick at 46hz155.2db unofficial on dash at 43hz Link to comment Share on other sites More sharing options...
Ram Posted October 31, 2013 Report Share Posted October 31, 2013 so im looking at this setup right now, wouldnt it make sense to just build my own and work out cheaper? http://www.ebay.com/itm/Bitcoin-Litecoin-Mining-Rig-Ready-to-ship-7GH-s-700MH-s-/161098644846?_trksid=p2054897.l4276 Link to comment Share on other sites More sharing options...
Facekicker Posted October 31, 2013 Report Share Posted October 31, 2013 @ Facekicker, I don't care if you believe me or not. Between my brother and I we are running a total of416 g/us. The 16 is mine and the 400 is his. The setup is at my house and I pay for all the electricity. This is why I get .18btc a day. He keeps the other .35btc a day. We don't mine in a pool and this is our average. The reason he gives me that is because I pay for electricity, attend to the machines, and he is my brother. So don't believe me if you don't want. Sorry I didn't give all the details but its really not anyone's business why I get a .18 payout per day but since you want to doubt me this is why. If you still don't believe me run the numbers and you'll see I'm right but whatever I could care less about your opinion. I'll spend my money I make and not give a shit about what others think. Have a nice day and happy mining. Also I forgot about the difficulty change a month or so ago and has effected the profitability. We were making quite a bit more. Also this is when I checked on the newer rigs and honestly haven't crunched the numbers since then when we were looking at getting a third rig that did 600 g/hs. Your first comment to Ram you went off like you consider yourself an expert, and then lie about your machine by triple. I call you out, and you have a backstory as to why your 16gh/s is special. Your 16gh/s is NOT getting you .18BTC daily no matter how you want to put it. Now you're adding in another 400gh and saying you get some trickle down from your brother. The point still stands you inflated what you could possibly get from a 16gh/s machine by 3x. Now you're getting defensive, which is funny, I really meant no offense. I feel like I just asked the kid that claims 170db with a 10" Kicker in his mom's minivan for clarification and he's got his head all wrapped up and wants to argue. The truth is, you wanted to mislead, for whatever reason, I don't know. You go spend your money (that you're not really making). edit: I just re read this "We don't mine in a pool" - now you know you're a damn fool or you're talking out of your ass 2002 Monte Carlo Started a build log Fi, DC, Mechman, XS Power Link to comment Share on other sites More sharing options...
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