Bitcoins? Explain. How do you get money from them? How does it work?
- Thread starter Dr. Truth
- Start date
I got the app from the google play store 2 days ago.
It provide me a Bitcoin address:
15stBnvSPp3oMucCSwih9CQ8K9a9DpnFru
Then I googled how to get free Bitcoins and found
http://www.bestfreebitcoin.com/
I really only use the sites that require a captcha.
It lets u enter a captcha every 30 mins for a small amount of coins.
If anyone wants to try it out you are free to use my Bitcoin address.
I am trying to learn more about pool mining.
It seems fairly easy but Im not sure how to get started.
The Bitcoin currency decimal goes 8 spaces
"00.00000745" is about what I have.
00.5000000 = half the value of 1 coin. NOT 50 CENT!
Coin value fluctuates
coin conversion to dollars link: http://coinmill.com/BTC_USD.html#BTC=00.50000000
I dont really know what all this shit about but i just jumped in and fig'd I would see where it goes.
Like I said feel free to use my Address if you find a game that u need a bit addy to play.
One of yall might luck up and get me 00.00000020 or sumthing, lol.
It provide me a Bitcoin address:
15stBnvSPp3oMucCSwih9CQ8K9a9DpnFru
Then I googled how to get free Bitcoins and found
http://www.bestfreebitcoin.com/
I really only use the sites that require a captcha.
It lets u enter a captcha every 30 mins for a small amount of coins.
If anyone wants to try it out you are free to use my Bitcoin address.
I am trying to learn more about pool mining.
It seems fairly easy but Im not sure how to get started.
The Bitcoin currency decimal goes 8 spaces
"00.00000745" is about what I have.
00.5000000 = half the value of 1 coin. NOT 50 CENT!
Coin value fluctuates
coin conversion to dollars link: http://coinmill.com/BTC_USD.html#BTC=00.50000000
I dont really know what all this shit about but i just jumped in and fig'd I would see where it goes.
Like I said feel free to use my Address if you find a game that u need a bit addy to play.
One of yall might luck up and get me 00.00000020 or sumthing, lol.
Personally I would only focus only on Bitcoin mining, but it is only determine by the amount of energy your unit will consume.
The key to the 28 nm ship is its power efficiency: It uses 40% less power than a 40g computer. However they do still eat up a lot of electricity — this machine alone would add $4 a day to your electric bill — which is why you need the fans blasting.
Read more: http://www.businessinsider.com/most-powerful-bitcoin-miner-knc-jupiter-2013-12#ixzz2mp57OpIC
https://www.weusecoins.com/en/mining-guide
http://startbitcoin.com/
The key to the 28 nm ship is its power efficiency: It uses 40% less power than a 40g computer. However they do still eat up a lot of electricity — this machine alone would add $4 a day to your electric bill — which is why you need the fans blasting.
Read more: http://www.businessinsider.com/most-powerful-bitcoin-miner-knc-jupiter-2013-12#ixzz2mp57OpIC
https://www.weusecoins.com/en/mining-guide
http://startbitcoin.com/
I take back the SCAM talk and apologize to all those
I may or may not have offended.
I found a quicker breakdown of what this Bubble is...thanks for the motivation bgol.
The Bitcoin Bubble
I may or may not have offended.
I found a quicker breakdown of what this Bubble is...thanks for the motivation bgol.
The Bitcoin Bubble
eewwll, I would love it if you blessed my thread with your presence and expertise.
I created a "one stop shop" for buying, trading, and mining.
It is located in my sig.
See, the reason I need you in there is because I myself did not know the difference between Bitcoin and bitcoin and I have been foolin' wit' it for a couple of years.
Always learning something from you, man, always...
Some of your best/greatest investments will take about a paragraph or two to explain.tru...I ain't gone lie but my common sense is tingling and the mere fact
you could not just explain it in one or two sentences say's a whole lot.
If you don't have the wisdom to exercise patience, it will only be your loss, but I am sure you will come around.
Great breakdown and I just bookmarked the article.It sounds like a scam because you don't understand it? Using the word Bitcoin loosely already displays that you don't understand it.
You asked for a quick explanation and I gave you one.
If you want to more thoroughly understand it, read this:
It's the best short synopsis on it.
http://www.michaelnielsen.org/ddi/how-the-bitcoin-protocol-actually-works/
You sound like someone in the mid 90s saying the internet is a scam! Just because somethng is new and you don't understand doesn't mean it's a scam man
That's like saying the email protocol is a scam. You can get scammed by email but there is nothing inherently "scammy" about the protocol. Ironicaly, the Bitcoin protocol is THE most transparent protocol ever developed. Read the post in the link I gave and you will understand that. Being non-technical, a lot of it will go way over your head, but he's written it in a way that a laymen should be able to easily get it.
Just the simple fact that you're comparing bitcoins to fucking VISA illustrates you have absolutely no idea what you're talking about. Ignorant people shouldn't be arrogant.
Being informed never hurt anyone. If "bitcoins" or "TITcoins" are going to have a measurable financial impact on the global economy, then it is our responsibility to at least be aware of what is happening in the market. You can't play the game if you don't know where or how the game is being played.
A true Playa or Husla is always informed and on top of his game.
Respect.
This is very true. Bring that mentality on over into my thread.
It's in my sig.
It will be worth your while...
Barter System History: The Past and Present
The video explained it very well to me. It's basically a Barter to Currencies exchange system.
In the real world you work for a currencies(money)that is back by gold an silver. But in the virtual world (internet) Bitcoins is back by your labor instead of gold an silver. Barter System History: The Past and Present explain it much more in detail. This is a good thing. 
Barter System History: The Past and Present
The video explained it very well to me. It's basically a Barter to Currencies exchange system.
The US gold reserve @ a per once price would just about have to triple in price to back circulating currency. There is no gold backing our money.
Its theory that works as long people accept & believe it.
Bitcoin is an amazing evolving story. Highly volatile & speculative. I am curious to see how Central Banks handle it. The cat is out of the bag.
Keep your eyes open ... Its going to be a lot of Trenton T Shavers popping up
http://www.heavy.com/tech/2013/07/trendon-shavers-bitcoin-ponzi-scheme/
Checking out some of these links and boy y'all dropping some heavy knowledge. At this point it's more stimulating as a concept than it is as an actual investment at this point. Heard about it a few years back but never really looked deeply into it. The whole concept is pretty deep.
It's still in it's infancy and the early adopters will probably make a killing. But like anything else it's wide open for swindlers speculators and scam artists. I mean this stuff is like something straight up out of the Matrix or something. Another reason I blew it off years back was because it seems like a tech geeks dream.
But like eeewll said this is a paradigm shift. Deep on lots of levels. It takes lots of power from the banks as a peer driven self mining and virtually self regulated encrypted currency. May be a big reason why the feds are having such trouble decrypting the Silk Road dude's bit coin stash.
And the other thing of how mining digital labor or data has an inherent market value based on the labor used to mine that data. Slight difference from gold silver or precious metals or other commodities.
Like I said I never really got into the stuff but the more I'm hearing about it the more fascinating this stuff and it's potential becomes. The market is zigzagging all over the place but so has the dow jones or nasdaq for decades now.
Tied up with plenty right now but definitely will check into this. As with anything there will always be a learning curve and a new lingo to learn but this is some fascinating stuff.
It's still in it's infancy and the early adopters will probably make a killing. But like anything else it's wide open for swindlers speculators and scam artists. I mean this stuff is like something straight up out of the Matrix or something. Another reason I blew it off years back was because it seems like a tech geeks dream.
But like eeewll said this is a paradigm shift. Deep on lots of levels. It takes lots of power from the banks as a peer driven self mining and virtually self regulated encrypted currency. May be a big reason why the feds are having such trouble decrypting the Silk Road dude's bit coin stash.
And the other thing of how mining digital labor or data has an inherent market value based on the labor used to mine that data. Slight difference from gold silver or precious metals or other commodities.
Like I said I never really got into the stuff but the more I'm hearing about it the more fascinating this stuff and it's potential becomes. The market is zigzagging all over the place but so has the dow jones or nasdaq for decades now.
Tied up with plenty right now but definitely will check into this. As with anything there will always be a learning curve and a new lingo to learn but this is some fascinating stuff.
Great thread. A to Z definitive and comprehensive guide in there.
The US gold reserve @ a per once price would just about have to triple in price to back circulating currency. There is no gold backing our money.
Its theory that works as long people accept & believe it.
Bitcoin is an amazing evolving story. Highly volatile & speculative. I am curious to see how Central Banks handle it. The cat is out of the bag.
Keep your eyes open ... Its going to be a lot of Trenton T Shavers popping up
http://www.heavy.com/tech/2013/07/trendon-shavers-bitcoin-ponzi-scheme/
I know this. As I was saying I was just trying to explain it to the people that didn't understand the Bitcoin system.
Good interview. Thnx.
It was published before the Silk Roads indictment & that story propelled Bitcoin into the mainstream causing a Bitcoin rush.
It is the perfect tool to trade outside the system as it stands. As evidenced by Silk Roads.
What are the odds that someone above "the FBI agents actually kicking in the door" had a real knowledge of Bitcoin. Either a FED sponsored event to "short" & damage Bitcoin adversely.
Or where betting on a corresponding rush once the very "intriguing" story was pumped throughout the media.
There are some early adapters who are sitting on millions because this rush in the last few months.
This is profoundly interesting.
I set up a wallet with Coinbase this afternoon. Not sure what to do now 
I may need some help, or a vid, or a link. Thanx in advance.
I may need some help, or a vid, or a link. Thanx in advance.I set up a wallet with Coinbase this afternoon. Not sure what to do now
http://www.bgol.us/board/showthread.php?p=13773501
Is there something specific in that thread. I tried reading it earlier but some of the back and forth info/banter between posters was off topic or not relevant to Bitcoins. It confused me more than helped.