vizzioarts Posted November 20, 2013 Posted November 20, 2013 Bang On... Few different ways of looking at it mind.. 1, you still have the hardware. So you could sell them back off at any time... So not really spending, sort of holding your money... 2, payouts are small, but bitcoin has doubled in the last few weeks. If it gets on to a stock exchange or a big player starts accepting it.... There will be a lot of millionaires out there! Interesting stuff... Ive spent less then £75 on my setup... Already £8.78 with these USB asic's in 2 weeks... I currently have about 5BTC in my wallet... Do the maths... Its grown to be an alarming amount now! Nice amount of coins! If as you said a big player starts to accept it as a viable means of payment, It will skyrocket to god knows what height. Already spiked recently only because the US congress have taken a big enough interest to talk about it. If someone like amazon/ebay/paypal start using it as currency. It could double/treble within days. Very interesting to see where this goes! Quote
TurboTobz Posted November 20, 2013 Posted November 20, 2013 Some one should write a short guide, I'd be interested in giving it a punt if the guide was written in a more understandable manor. Quote
TurboTobz Posted November 20, 2013 Posted November 20, 2013 Too Right It Can! rPi are like £20 lol WINI've been tempted to make one and run it as a carputer interface with ECU connectivity and tethering to phone Internet there so cheap and tiny it's pretty amazing Quote
Ep'd Posted November 20, 2013 Posted November 20, 2013 (edited) What is the most money anyone had ever made to date doing mining in this way?Just another question you might be able to help me with is that instead of mining for bitcoins as it can be time consuming. Can I invest and buy some (if so where from a trustworthy source) and hold on to them hoping for them to appreciate eventually. Would this be a good way in terms of investment? Edited November 20, 2013 by Ep'd Quote
vizzioarts Posted November 20, 2013 Posted November 20, 2013 What is the most money anyone had ever made to date doing mining in this way?Its almost impossible to say. If you started early you could have mined more coins at a lower difficulty, which today would be worth alot more. If you start now you will not mine as many, and in turn your work won't be worth much. But if you kept them who's to say in a year's time they won't be worth x10 what they are now. With numbers1 year ago, mine 1 coin. It was maybe worth £10.With the same amount of work you might only mine 0.02 today. But coins are worth £500+. So if you Sold, you would still only make £10.However If you kept your coin from a year ago it is now worth £500+ to you. So its possible in a year's time that 0.02 might be worth alot more than £10. So its impossible to say who has been saving and who hasnt and the potential this machine can make.All in all, if you sold as you mine, you won't make much. Maybe £4 a week. Quote
Socks Posted November 20, 2013 Posted November 20, 2013 Millions... If anyone is interested in mining with usb asic's and a raspberry pi... Google 'Minepeon' purchased some usb asics and a powered hub. Done... Quote
Ep'd Posted November 20, 2013 Posted November 20, 2013 Its almost impossible to say. If you started early you could have mined more coins at a lower difficulty, which today would be worth alot more. If you start now you will not mine as many, and in turn your work won't be worth much. But if you kept them who's to say in a year's time they won't be worth x10 what they are now. With numbers1 year ago, mine 1 coin. It was maybe worth £10.With the same amount of work you might only mine 0.02 today. But coins are worth £500+. So if you Sold, you would still only make £10.However If you kept your coin from a year ago it is now worth £500+ to you. So its possible in a year's time that 0.02 might be worth alot more than £10. So its impossible to say who has been saving and who hasnt and the potential this machine can make.All in all, if you sold as you mine, you won't make much. Maybe £4 a week.That's had really helped thank you for that advice. In terms of my second question;ust another question you might be able to help me with is that instead of mining for bitcoins as it can be time consuming. Can I invest and buy some (if so where from a trustworthy source) and hold on to them hoping for them to appreciate eventually. Would this be a good way in terms of investment? I have just opened a Bitcoin wallet and have claimed a free Bitcoin. Just trying to get started Quote
jellybaby Posted November 20, 2013 Posted November 20, 2013 I be opening a wallet tonight what web site you use ? And also socks 5btc is 5 coins ???? I done a cunnency check and that worth approx 1927 Gbp . How long did it take u to get 5 coins and if I didn't want to mine where a good site just to buy coin as I got some savings to invest Quote
vizzioarts Posted November 20, 2013 Posted November 20, 2013 That's had really helped thank you for that advice. In terms of my second question;ust another question you might be able to help me with is that instead of mining for bitcoins as it can be time consuming. Can I invest and buy some (if so where from a trustworthy source) and hold on to them hoping for them to appreciate eventually. Would this be a good way in terms of investment? I have just opened a Bitcoin wallet and have claimed a free Bitcoin. Just trying to get started Yes you can buy sell just like shares, which is more profitable, but time consuming, compared to letting a miner work in its own. And a free coin? That's worth $500 right now? What wallet is that from? Quote
Socks Posted November 20, 2013 Posted November 20, 2013 I be opening a wallet tonight what web site you use ? And also socks 5btc is 5 coins ???? I done a cunnency check and that worth approx 1927 Gbp . How long did it take u to get 5 coins and if I didn't want to mine where a gd site just to buy coin as I got some savings to invest 2 months of GPU Mining... Followed by 2 weeks of USB Asic Mining... Quote
Ep'd Posted November 20, 2013 Posted November 20, 2013 Yes you can buy sell just like shares, which is more profitable, but time consuming, compared to letting a miner work in its own. And a free coin? That's worth $500 right now? What wallet is that from?It's not a full coin. Every hour you can claim a percentage of a coin. Here you goBlock chain for the walletAndDaily bitcoin for the percentage. Quote
jellybaby Posted November 20, 2013 Posted November 20, 2013 Cheers for the replys what the best site to get a wallet and best way to keep it secure Quote
smithyithy Posted November 20, 2013 Posted November 20, 2013 I'm gonna build a rig very similar to yours Socks and crack on with mining. I've read that GPU mining isn't really worthwhile any more, but I had an old PC with a decent-ish GPU, reckon I could use it or any of the PC alongside a new rig? It's only spare hardware that otherwise I won't ever use.. Quote
vizzioarts Posted November 20, 2013 Posted November 20, 2013 I'm gonna build a rig very similar to yours Socks and crack on with mining. I've read that GPU mining isn't really worthwhile any more, but I had an old PC with a decent-ish GPU, reckon I could use it or any of the PC alongside a new rig? It's only spare hardware that otherwise I won't ever use..Maybe. Have a look at a gpu chart, see what MH/s yours outputs. Considering the miners are 350MH/s each. It might not be worth your while considering power usage of a full pc can be costly. There are calculators out there which can work out your efficiency. Quote
TurboTobz Posted November 24, 2013 Posted November 24, 2013 (edited) Do you need an exceptionally good internet connection to do this? Edited November 24, 2013 by TurboTobz Quote
Socks Posted November 24, 2013 Posted November 24, 2013 Do you need an exceptionally good internet connection to do this? Nope Im on fibre... But have also mined on a 8mb connection... You cant even notice... Quote
vizzioarts Posted November 24, 2013 Posted November 24, 2013 Threw £30 into trading tonight on BTC-E. Lets see how this goes... Quote
TurboTobz Posted November 24, 2013 Posted November 24, 2013 Nope Im on fibre... But have also mined on a 8mb connection... You cant even notice... Interesting, I would love to know how much time a basic set up would take to repay itself not taking into account energy bills. Quote
morgey Posted November 28, 2013 Posted November 28, 2013 Anybody hear about the guy in the news, threw away his harddrive with over £4mils worth of coins on it?Guess this is why you should keep a safe copy of your wallet pahahahaha Quote
scottyb Posted November 29, 2013 Posted November 29, 2013 Im beginning to get quite intruigued by this! Seems so complicated though! Gonna have to research alot more then think about a set up like socks! Quote
TurboTobz Posted November 29, 2013 Posted November 29, 2013 Anybody hear about the guy in the news, threw away his harddrive with over £4mils worth of coins on it?Guess this is why you should keep a safe copy of your wallet pahahahahahttp://www.itv.com/news/story/2013-11-28/james-howells-bitcoin-hard-drive-landfill/Saw this earlier forgot I was going to post it, would love to meet him, I'd simply say... "uMad?" Quote
Socks Posted November 29, 2013 Posted November 29, 2013 Heard about that on the radio^ lol what a pillock!My setups grown a touch now! Currently averaging around the £2.87 a day mark.. Average still hasn't fully settled. Should be just short of £3 a day....at todays rates... Quote
Glanza-Ben Posted November 29, 2013 Posted November 29, 2013 Heard about that on the radio^ lol what a pillock! My setups grown a touch now!IMG_4868.JPG Currently averaging around the £2.87 a day mark.. Average still hasn't fully settled. Should be just short of £3 a day....at todays rates...Wish I knew about computers to set something up Quote
Socks Posted November 29, 2013 Posted November 29, 2013 Wish I knew about computers to set something up Would take even a novice all of 30mins to setup and configure.... Quote
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