Pitbull
Verboten
Farming in a scheme or group can be pretty rewarding too. However, keep an eye on your power bill to make sure you're not mitigating your gains
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Question of the Day: How do you normally pay for purchases in stores?
Bitcoin noob,need advice to start up
- Thread starter ViciousClone
- Start date
Farming in a scheme or group can be pretty rewarding too. However, keep an eye on your power bill to make sure you're not mitigating your gains
Jet-Fighter7700
Honorary Master
Farming in a scheme or group can be pretty rewarding too. However, keep an eye on your power bill to make sure you're not mitigating your gains
of course, if you live next to an eishkom power station enjoy it......
but if your a regular jo, be ready with the gennies.....
Yup.Jirre, unless you farm part of a scheme/community your chances of hitting a coin is just about zero.
Rather sign up
You're about 10 years too late to the mining party.
More chance of finding ET by donating processing time to SETI
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Yeah when I'm looking at my blockchain wallet from way back then when hasing was so rewarding I had like 6 bitcoins. Sold those coins for so cheap. That time $37 for a bitcoin was a very decent sell price. Sigh.
Sell your gear. Use the money to buy Bitcoin. Success
But seriously, there are three ways to get Bitcoin: 1. buy it (for your local currency, like rand), 2. get paid for goods/services in Bitcoin (might be tricky to persuade your customers/boss to pay you in BTC) or 3. Mine it.
#1 is by far the easiest, #3 the most difficult. It takes massive amounts of power (and very expensive equipment) to mine Bitcoin. And since it's a global currency, you're competing with people in places with cheap electricity and fast access to cheap(er) mining equipment, like China.
Also, be careful of cloud mining (here's a post about Bitcoin scams). The idea is that a Bitcoin mining company (with a need for upfront capital to pay for gear and ongoing electricity) gets the crowd to invest Bitcoin in their operations and they pay you a percentage of the Bitcoin they mine over time. Looks good on paper, but many times it's just a pretty website with pictures of gear they don't own, so they run it as a Ponzi. They collect money, pay out ridiculously high returns (look at how much we're mining!) and then after people have invested a large amount they make off with your money.
But seriously, there are three ways to get Bitcoin: 1. buy it (for your local currency, like rand), 2. get paid for goods/services in Bitcoin (might be tricky to persuade your customers/boss to pay you in BTC) or 3. Mine it.
#1 is by far the easiest, #3 the most difficult. It takes massive amounts of power (and very expensive equipment) to mine Bitcoin. And since it's a global currency, you're competing with people in places with cheap electricity and fast access to cheap(er) mining equipment, like China.
Also, be careful of cloud mining (here's a post about Bitcoin scams). The idea is that a Bitcoin mining company (with a need for upfront capital to pay for gear and ongoing electricity) gets the crowd to invest Bitcoin in their operations and they pay you a percentage of the Bitcoin they mine over time. Looks good on paper, but many times it's just a pretty website with pictures of gear they don't own, so they run it as a Ponzi. They collect money, pay out ridiculously high returns (look at how much we're mining!) and then after people have invested a large amount they make off with your money.