Bitcoin - anyone here do this?

[anotherwindowsuser]

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]

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]

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

 

[Henrick73]

I have heard about Bitcoin from different sources. But I didn't invest there yet.

 

[bochane]

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]

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.

 

[Jimbo22]

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]

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..

 

[tev43]

I think that the price of bitcoins rises again last week.

 

[TimMeans]

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.

 

[kemical]

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]

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?

 

[kemical]

I guess anything I.T. wise is vunerable to attack nowadays?

 

[apostoins]

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

 

[Lesstrandus]

Hi there! I understand your confusion with Bitcoin, it can be difficult to wrap your head around it at first. I think Cryptex.net has some really helpful articles that can help you get started. Besides that, I'd suggest doing some more research and watching more videos to get a better understanding of Bitcoin. It's worth it in the end to have a better understanding of it and to make sure you take the necessary precautions when investing. Good luck!

 

[Manel Kapuel]

Hi there! I understand your confusion with Bitcoin

There is zero condusion about the crypto #1 on the market. But I have some sort of confusion about the fact that there are so many coins out there. I guess that the only reason of their existence is the desire to make money on speculation, that's it.

 

[Manel Kapuel]

it can be difficult to wrap your head around it at first. I think ownrwallet has some really helpful functions that can help you get started. Besides that, I'd suggest doing some more research and watching more videos to get a better understanding of Bitcoin. It's worth it in the end to have a better understanding of it and to make sure you take the necessary precautions when investing. Good luck!

BTC is the only crypto worth investing, my opinion. No wonder that all the market is standing on solely Bitcoin.

 

[ulrichgood]

It's awesome that you're curious about Bitcoin and exploring the potential for passive income.
It can seem confusing at first, but don't worry; there are simpler ways to get started.
You might want to check out some beginner-friendly resources like online courses or forums where you can ask questions and get guidance.

 

[ulrichgood]

It's awesome that you're curious about Bitcoin and exploring the potential for passive income.
It can seem confusing at first, but don't worry; there are simpler ways to get started.
You might want to check out some beginner-friendly resources like online courses or forums where you can ask questions and get guidance.

Also, consider using USB crypto miners for a small-scale start; they can be a good entry point.
And if you're looking to manage your cryptocurrency securely, you can try out an mpc wallet as a service for convenience.

 

[Hazeritus]

I do not have interest in crypto mining