Bitcoin - anyone here do this?

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

Windows Forum Team
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

Fantastic 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.. ;)
 
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