Bitcoin - anyone here do this?

anotherwindowsuser

Active Member
Hi,

I would like to start learning about Bitcoin, I just watched a very interesting video o YouTube in which a guy who has solar panels for a home setup, would have made $3000 selling electricity back to the electric grid, however having used them to mine cryptocurrency instead, made $5000. I don't have that kind of space however, give the volumes of money made and that I may well just have a load of solar panels in the back of my car being used while the car sits idly, making money there possibly using these cheap usb crypto miners, I wonder if I am onto an idea for a small passive income.

I have watched three videos on bitcoin on YouTube and despite being quite used to computing and science, indeed I consider myself an intellectual, it just seems confusing (or possibly those videos were not very clear). My brother maintains complex websites for a living and he told me he gave up on it lol. Surely there is an easy way to learn this?

Thanks in advance
 

Neemobeer

Cyber Security Engineer
Staff member
Crypto currencies are not backed by any governing body and have no regulations. They're also extremely volatile and can vary in value from one day to the next. They're not widely accepted, so they're value is only good at particular places. They're also not protected really. Look up crypto coin thefts and you can see people having them stolen all the time.

It's always been my opinion that they're not worth the time and money you need to invest in hardware to mine them.
 

kemical

Windows Forum Admin
Staff member
Premium Supporter
Hi,

I would like to start learning about Bitcoin, I just watched a very interesting video o YouTube in which a guy who has solar panels for a home setup, would have made $3000 selling electricity back to the electric grid, however having used them to mine cryptocurrency instead, made $5000. I don't have that kind of space however, give the volumes of money made and that I may well just have a load of solar panels in the back of my car being used while the car sits idly, making money there possibly using these cheap usb crypto miners, I wonder if I am onto an idea for a small passive income.

I have watched three videos on bitcoin on YouTube and despite being quite used to computing and science, indeed I consider myself an intellectual, it just seems confusing (or possibly those videos were not very clear). My brother maintains complex websites for a living and he told me he gave up on it lol. Surely there is an easy way to learn this?

Thanks in advance
This forum may be of some help?

Crypto Currency & Mining
 

bochane

Excellent Member
To get your with ransomware encrypted files back, they let you pay with bitcoins, there are lots of fishing emails telling you can get rich with bitcoins, just one click ahead.
Do we really need bitcoins?
 

Mike

Windows Forum Admin
Staff member
Premium Supporter
I mined altcoins for awhile with a bunch of graphics cards and while I made some money from doing so, it was amateurish compared to the complex situation going on now. @whoosh and @Josephur also mined. But it's now at the point where you would need a friggin data center due to the way it works. As far as investing or trading it is volatile. If you're more interested in how it actually works there is so much literature online. It is mind boggling. An actual primer should readily be available if you search Google or Youtube. Just remember to separate the actual coin (BTC) from the blockchain technology. But also, be careful putting any money into it, and... It's going up recently, as far as I can tell, because PayPal recently went mainstream with it. But other factors as well.
 

bassfisher6522

Essential Member
I mined altcoins for awhile with a bunch of graphics cards and while I made some money from doing so, it was amateurish compared to the complex situation going on now. @whoosh and @Josephur also mined. But it's now at the point where you would need a friggin data center due to the way it works. As far as investing or trading it is volatile. If you're more interested in how it actually works there is so much literature online. It is mind boggling. An actual primer should readily be available if you search Google or Youtube. Just remember to separate the actual coin (BTC) from the blockchain technology. But also, be careful putting any money into it, and... It's going up recently, as far as I can tell, because PayPal recently went mainstream with it. But other factors as well.
Are you still mining? If not what are you doing with all those GPU's? I'm in the market for a good 2nd hand one for my son's PC if the price is right.
 

kemical

Windows Forum Admin
Staff member
Premium Supporter
To get your with ransomware encrypted files back, they let you pay with bitcoins, there are lots of fishing emails telling you can get rich with bitcoins, just one click ahead.
Do we really need bitcoins?
Depends on what your buying.. ;)
 

TimMeans

New Member
Well, you were right. The price now is almost 50k, and it has been like that for a few weeks. I remember reading about the rising of the BTC price on some forum last April, and I really did not believe in it. Now I just wish I was not so stupid, and I wish I would have bought some BTC then... That is the thing with BTC, you can never know which way will it go, at least that is the situation now. At the beginning of the year price was changing every day, and it was 5K dollars every day... That must have been stressful for the people who own it. I stuck with forex trading then, and for now I will keep doing it, it's a bit more reliable, and when you have a good broker there is a big chance of profit.
 
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kemical

Windows Forum Admin
Staff member
Premium Supporter
Well, you were right. The price now is almost 50k
Yup, Elon Musk tweeted about Tesla buying 1.5 Billion Bitcoin in preparation for selling their products. The market went crazy and BTC shot up to £34000 per BTC.
It's now dropped to £32000 per BTC and seems to be steady.. For now ;)
 

bochane

Excellent Member
In the news: Europol has traced 8 hackers being accused of stealing of $ 100.000.000 of crypo valuta.
Are bitcoins as secure as your computer?
 
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apostoins

New Member
This is called GPU mining. It is a common way of making money on cryptocurrencies. It is the safest way of making money on BitCoins because the risks of losing money are very low, and your profit never depends on the price of the BitCoin, because it is always positive. The main disadvantage of this method is that you need to do some big investments at the beginning. First of all, you will need to buy a lot of equipment like the latest graphic cards that are very expensive. Also, the bills for electricity will be very high, but this is not a big problem.
___________________
Daily Free Bitcoin GPU Mining, Cloud Bitcoin Mining Earn, Online Litecoin Mining Win, Best Gpu Mining, Cpu Ethereum Mining
 
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