FRIHOSTFORUMSSEARCHFAQTOSBLOGSCOMPETITIONS
You are invited to Log in or Register a free Frihost Account!


Bitcoin





75alex
Hi all, i haven't seen any topic on Bitcoin, so here i go !

If you don't know about it, bitoin is a crypto currency (click here if you don't know what that is), actually it is the most famous of them. Basically, to get bitcoins, you either "mine" them, which is basically renting your computer power to resolve and verify bitcoins transactions. Bitcoin can also be exchanged from €/$ or whatever currency. The rate of bitcoin is currently about 1 BTC/130$.

Explaining how bitcoin works is pretty hard, however the link on cryptocurrencies explains a bit. You can also check the official BitCoin website here.

What is your opinion about bitcoin ? Do you think it can become a recognized currency ? Do you use/mine them yourself ? Please share your thoughts below !
deanhills
I'm hoping it will get somewhere, but am almost certain the big banking corporations will do things to prevent that from happening. I should study it however as I'm on a mission to find a way where I don't need a bank. I'm personally totally ANTI-bank at the moment. I believe they are thieves.
75alex
That's another debate :p
Oh and a little update, you probably all heard of the seizure by FBI of the website "SilkRoad", and if you haven't, it was basically the eBay of drugs. Since Bitcoins were used as the only currency on this website because of it's anonymous nature, lots of people believed that the end of this website would totally destroy Bitcoins. However this is not the case, despite a heavy drop in value a few hours after the seizure (From 120 to 80$), the exchange rate of Bitcoin is now back to normal, even a bit higher (126$ at this exact moment on https://btc-e.com/. SilkRoad was believe to be responsable for at least 5% of btcs exchanged around the world, so the fact that the currency was not affected in short term shows it's strenght and the amount of trust people put in it !
standready
deanhills wrote:
I'm personally totally ANTI-bank at the moment. I believe they are thieves.

I agree with you, Dean, and here in the US, banks have politicians in their pocket so they get bail-out for the American people for their greed/stupidity.
75alex
And well now the value of bitcoin has been over 200$ for a few days !
75alex
Wow, it's actually over 250$, I think that's it's highest value ever, even if in april it reached a similar value already !
sunitazthreading
I want to try bitcoins someday
75alex
Well you really should, buying bitcoins is quite fast, you can just sign up on an online wallet like Coinbase.com and then buy bitcoins using your credit card. You just have to be careful about the current value of the coin, because right now it's not stable, since a week it's between 500 and 800 dollars. You can check btc current value here : https://blockchain.info/fr/charts/market-price
More and more businesses accept bitcoins as payment, to find one in your area just check this site https://www.spendbitcoins.com/places/.
If you have any questions don't hesitate to ask !
abhinavm24
after following bitcoin details for few days, i have come to a conclusion that its bad!!!
Its worst form of black money. Sad no trace of spending.
also the market is unstable,, with price fluctuating heavily. Sad Twisted Evil
75alex
Bitcoin is not bad, it does fluctuate a lot at the moment, that is the main reason why right now I see it more as an investment than as a mean of payment, however try to trace any paper money, you'll see it is way harder to do than BTC, where all transactions are public.
dxverm
I wish I would have gotten into "mining" at the early stages, now there is almost no return on investment if you want to "mine" bitcoins, which is essentially allowing your pc to do the math for creating bitcoins and earning bitcoins for your work in return. Now you have to be rich to get equipment strong enough to get a return on investment quickly. Sad
75alex
I made a bit of money mining Litecoin (another Crypto-currency) when it was only worth 2$, now it's like 35$, it's still possible to make money mining other currencies, like FTC or XTC !
dxverm
I have started mining DogeCoins, which I can currently mine a lot of because the difficulty is low. I will end of transferring half of everything I make in a month to BTC or LTC and keeping the other of in DogeCoin in-case of a spike in the prices.
deanhills
dxverm wrote:
I have started mining DogeCoins, which I can currently mine a lot of because the difficulty is low. I will end of transferring half of everything I make in a month to BTC or LTC and keeping the other of in DogeCoin in-case of a spike in the prices.
I'm curious Verm, how does it work? How does one get into mining the coins?
dxverm
Well this is going to be as simplified as possible.

Option 1: Buy the equipment:
Get the hardware that can be used to bitmine i.e. gpu's for a desktop build, ASIC Miners, etc.
Download mining software and sign up for a coin wallet.
Let the software run in the background and every so often you will be awarded coins for the completion of solving blocks.
Payout the earned coins to your wallet.


Option 2: Contracts
You can buy contracted time and speeds from people on ebay or online for a set amount of time to hash using their hardware.
k_s_baskar
Is Mining is still exists. Some companies are still releasing new Mining ASIC Hardwares. What will be the ROI? can somebody explain...
coolclay
At this point I believe the ROI is very low. Bitcoins are increasingly harder to mine, and their value is finally starting to normalize. Until it becomes a widely accepted currency there won't be much demand accept as a black market currency.
JensDuck
My old boss was all gung ho about this, and put in like 4,000 USD, and returned 6,700 within two weeks, and he just keeps doing more i.e. dogecoin, Litecoin, Darkcoin, and Peercoin
playfungames
I have heard a lot about bitcoins, even tried using it but couldn't find a way to purchase it or sell it easily from where I am located. I think that this anonymous currency idea is great and it works awesomely for the internet. But I bet it isn't secure and I've seen news about Bitcoins wallets being stolen and all.

I really wish that I had heard about Bitcoins or virtual currency before they went mainstream. Imagine, how much profit it would have been if we accidentally came across this currency and mined it before no one did just out of interest and collected it.
cpatnaik
playfungames wrote:
I have heard a lot about bitcoins, even tried using it but couldn't find a way to purchase it or sell it easily from where I am located. I think that this anonymous currency idea is great and it works awesomely for the internet. But I bet it isn't secure and I've seen news about Bitcoins wallets being stolen and all.

I really wish that I had heard about Bitcoins or virtual currency before they went mainstream. Imagine, how much profit it would have been if we accidentally came across this currency and mined it before no one did just out of interest and collected it.


That's what everyone hoped. I have been following bitcoins for more than 2 years. Didn't bother to even set a spare computer to mine it What will be will be. Smile
Possum
I make interest on my bitcoins by buying and selling them. The dips and highs sort of balance around $260 to $460 nz. as long as this goes on Im happy.
loveandormoney
75alex wrote:
Hi all, i haven't seen any topic on Bitcoin, so here i go !

If you don't know about it, bitoin is a crypto currency (click here if you don't know what that is), actually it is the most famous of them. Basically, to get bitcoins, you either "mine" them, which is basically renting your computer power to resolve and verify bitcoins transactions. Bitcoin can also be exchanged from €/$ or whatever currency. The rate of bitcoin is currently about 1 BTC/130$.

Explaining how bitcoin works is pretty hard, however the link on cryptocurrencies explains a bit. You can also check the official BitCoin website here.

What is your opinion about bitcoin ? Do you think it can become a recognized currency ? Do you use/mine them yourself ? Please share your thoughts below !


Now the Bitcoin is more than sixthousand US Dollars. Are You happy?
Da Rossa
Yeah I was about to question how come did the value plummeted this low, but then I saw the topic Is from 2015. And by then they already said mining is not very good on the ROI.

Any updates? Have they developed some specialised machines to optimise mining?
loveandormoney
The problem is
its fashion.
Its hot.
Be careful.
Dont let Your fingers burn.
salinas
I have heard that mining with arm architechture is cost-effective.
Have someone mine something succesfully?
Related topics
What do you know about Bitcoins
Why the same doesnot play on PC ?
What coin system frihost use
¿Alguien sabe esperanto por acá?
450,000 E-mail Passwords Were Stolen From Yahoo!
banks rob us
Computer Science Projects
How Many of You would Work for Bitcoins
Brain behind the Silk Road got arrested by the FBI
Bitcoin value falling down after Silk Road bust.
Hiding of passwords, security codes - tool.
Wheer do you trade and buy Bitcoins
Can you run a virus check/spyware cleaner on iPad?
Business Idea
Reply to topic    Frihost Forum Index -> Lifestyle and News -> Economics and Marketing

FRIHOST HOME | FAQ | TOS | ABOUT US | CONTACT US | SITE MAP
© 2005-2011 Frihost, forums powered by phpBB.