Can someone explain Bitcoins to me?

[ViciousClone]

Hi all,please assist me by explaining how bitcoins work and how do i do it?what do i need and how much time does it consume.

Thanks

 

[Messugga]

How do you do a currency? You need to explain what you want to do with them. I suspect you want to mine them?

 

[ngwe23]

this should help http://lmgtfy.com/?q=bitcoins

 

[killadoob]

Hi all,please assist me by explaining how bitcoins work and how do i do it?what do i need and how much time does it consume.

Thanks

You firstly need capital, 50-100k then you need to buy equipment that i don't think the company who made it will sell due to the high pricing of the bitcoins. they will use it to mine the coins.

Basically you need to wiki bitcoin and search google for rt.com bitcoin reports, bbc had one the day other as well.

 

[MKFrost]

Also look at Bitcoin Lite, takes up less processing.

Making money from the processing of Bitcoin is now near impossible unless you have serious hardware to do all that processing.

 

[ViciousClone]

Thanks all

 

[Splinter]

get July edition of PC Format. Got a big article on this. But basically you have missed the bus - it said that because of its exponential structure, to get the same amount of coins mined in the last 4 years will now take up until 2130 or something ridiculous like that.

Apparently there are a few other virtual currencies out there - trick is to jump on the next winner and not a donkey.