Crypto Currency.

I have an AMD Radeon HD 7660G. Sounds like it will only yield a single LC or so per month on dedicated mining. But this is also my personal laptop. Might just look into trying out the whole thing on a simple, but dedicated, $500 rig.

 

Think it's worth building something around this?

 

I just set up a bitcoin miner (I think?) I'll run this for a week or so and see if it's worth it. My laptop has heated up a bit since I started. I can see a desktop doing a better job, especially if you just set it up and forgot about it, only to turn it off when you play games it should work pretty good in the long run.

 

Where do Bitcoins come from? New Bitcoins are created in a process called "mining," which involves Bitcoin users attempting to figure out a complex mathematical solution related to the current number of Bitcoins. Grinberg compares it to finding the missing piece of a puzzle. Whomever finds the puzzle piece wins a certain number of Bitcoins, and the process starts all over again. Finding the Bitcoin solution involves an incredible amount of processing power, and so users often band together in "pools" in order to find the solution and to earn Bitcoins more regularly. However, there have been incidents where Bitcoin users have illicitly attempted to use other people's computers to mine Bitcoins. You can do this by hacking people's computers and telling them to mine Bitcoins. In one incident referenced by the FBI, a system administrator at a university in New York set its computers to mine Bitcoins for him.


Taken from the mother jones link above.

It underground money that's used by criminals to buy illegal goods and it untraceable.
Aka silkroad.

The creator disappeared? Something tells me this could be something like "diehard 4"
People unwittingly helping a terrorist group undermined the system.

And really if it is untraceable and unprotected it sounds like it be easier to do around hacking and stealing bitcoins then it would be to mine.

Like someone's found a way to make other people do his dirty work in exchange for drugs and illicit items, as it doesn't really seem like there's a way to cash out only buy stuff.

But people are handing him money. I bet he's laughing his ass off on some tropical island on a big pile of your cash.

 

The rating was 10Mhash/S, but last night I got around 5Mhash/S It's a Nvidia GT220M, It's a old laptop...

 

I had never heard of bitcoins until they were mentioned on this site. I am beginning to understand the concept, but it is still really strange to me. Especially the whole mining process.

 

Sorry Ben, there was supposed to be a link in there. Apparently ctrl + v is beyond me. http://vancouver.en.craigslist.ca/van/sys/4217803431.html

 

now thats away to do this.
other peoples eletricity, and a powerful network.

also found this
http://codinginmysleep.com/bitcoin-mining-in-plain-english/
and this looks like one hell of a mining machine.
https://www.btcguild.com/index.php?page=store

i still dont get if the computer is just running a code generator or if you have to sit there and actively hack ?
but by the sounds of it, it can just mineby itself.

cost of equipment and cost of electricty seem to be the bottle neck of profitability.

so 1. find a way to subsidize the electricity ... solar panels , or included utilities
2. mine or sell stuff to get coins dont buy or save money there
3. find ways to utilize the effects of mining, ie. the heat produced could be used instead of heaters

 

http://www.hardcoreware.net/litecoin-the-mining-alternative-to-bitcoin/

found this, a litecoin vs bitcoin breakdown.

 

How about these then?

http://vancouver.en.craigslist.ca/rds/sys/4227670188.html
http://vancouver.en.craigslist.ca/van/ele/4227320030.html

Ads are kind of vague, so finding retail pricing is kind of hard.

 

I've been looking into bit coins for a while now but one thing that still eludes me is how I cash these in?

Also quite a large number of users of dark web sites have recently been scammed out of coins by what's seems to be the admins of the sites....so question is...when can you use these to buy stuff on legit sites like amazon?

Edit: turns out some blenz coffee shops actually accept bit coins (or fractions of bitcoins)

 

middlecoin. pool mines for whatever is the best exchange rate to bitcoins. so one day litecoin, next bbq coin, next microsoft points or maybe even berries for that smurf app!