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  1. #1

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    Bitcoin

    what exactly is it? i just remember the federal reserve talking about this once and how a single coin is almost the price of gold
    Even HK has jumped on the wagon of "mining" bitcoinsEntire floor in Kwai Chung


  2. #2

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    It's an alternative currency, not controlled by any regulators, almost anonymous, no inherent value, untaxable, unsecured and very very interesting


  3. #3

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    it sounds very interesting to mine, but it looks like its impossible to make a profit Bitcoin at Home


  4. #4

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    Google is your friend.

    Bitcoin is a form of digital currency which is finite and produced through digital mining (successful calculcations which computers have to run). The mining process is by nature designed to be very time and energy consuming so the actual "mining" may not be so lucrative depending on the investment into technology (specific processors), cost of machine maiantenance and operation (electricity consumption, etc.) Most recently Botcoin was made famous by the busted on-line drug website Silk Road which accepted it as payment for narcotics. Because of it's finite nature, Bitcoin has appreacited recently to an "exchange rate" of roughly $1000USD to 1 BC


  5. #5

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    http://fiatleak.com/

    Cool website to visualise at least some of the flow from regular currencies to BTC, in realtime.

  6. #6

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    just curious though, do u know anyone that actually tried mining before?


  7. #7

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    Quote Originally Posted by RwingJock:
    just curious though, do u know anyone that actually tried mining before?
    I have, but just with home PCs Macs (CPU/GPU mining). After a while realized it was a giagantic waste of time and resources. Granted I wasn't as commited as some..... and you really need specialised miners to even make a dent.

  8. #8

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    Quote Originally Posted by climber07:
    I have, but just with home PCs Macs (CPU/GPU mining). After a while realized it was a giagantic waste of time and resources. Granted I wasn't as commited as some..... and you really need specialised miners to even make a dent.
    Me2 - the information is out there and its not difficult to setup a mining operation. Just like the old days of gold mining, doing it as an amateur with a few home PCs was fun to try but mosly a waste of time.

    At the time I was mining, I actually thought about buying a couple of $1000 worth of coins just for the hell of it (priced around $10 at that time) - I talked myself out of doing so quite easily...

  9. #9

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    Quote Originally Posted by HowardCoombs:
    At the time I was mining, I actually thought about buying a couple of $1000 worth of coins just for the hell of it (priced around $10 at that time) - I talked myself out of doing so quite easily...
    i can imagine the shock when u realize its worth 1000 each now

  10. #10

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    I have 1 Bitcoin. Bought it for about 15GBP.


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