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Does anyone here use Bitcoins?
wraith808:
I really want to get into BC... but I don't even know where to start with it doing this mess.
Stoic Joker:
I really want to get into BC... but I don't even know where to start with it doing this mess.
-wraith808 (November 04, 2015, 02:49 PM)
--- End quote ---
I honestly don't think there is a per se 'Right Way' to get started ... There are however a lot of wrong ways (like investing you life savings, etc..).
I went the mining route, because the whole investing/currency exchange thing confuses the shit out of me. But if you're good at that type of thing maybe pushing some shitcoin around might be a good way in.
In retrospect, I put more into the mining equipment than I should have and the money is kinda stuck there now ... But at the time - it looked good - I couldn't see the bottom falling out shortly thereafter. I'm not looking to pull out completely, I'd just like to break even.
wraith808:
I really want to get into BC... but I don't even know where to start with it doing this mess.
-wraith808 (November 04, 2015, 02:49 PM)
--- End quote ---
I honestly don't think there is a per se 'Right Way' to get started ... There are however a lot of wrong ways (like investing you life savings, etc..).
I went the mining route, because the whole investing/currency exchange thing confuses the shit out of me. But if you're good at that type of thing maybe pushing some shitcoin around might be a good way in.
In retrospect, I put more into the mining equipment than I should have and the money is kinda stuck there now ... But at the time - it looked good - I couldn't see the bottom falling out shortly thereafter. I'm not looking to pull out completely, I'd just like to break even.
-Stoic Joker (November 04, 2015, 03:52 PM)
--- End quote ---
Are you still running your mining setup? And is it still generating an appreciable amount?
Stoic Joker:
I really want to get into BC... but I don't even know where to start with it doing this mess.
-wraith808 (November 04, 2015, 02:49 PM)
--- End quote ---
I honestly don't think there is a per se 'Right Way' to get started ... There are however a lot of wrong ways (like investing you life savings, etc..).
I went the mining route, because the whole investing/currency exchange thing confuses the shit out of me. But if you're good at that type of thing maybe pushing some shitcoin around might be a good way in.
In retrospect, I put more into the mining equipment than I should have and the money is kinda stuck there now ... But at the time - it looked good - I couldn't see the bottom falling out shortly thereafter. I'm not looking to pull out completely, I'd just like to break even.
-Stoic Joker (November 04, 2015, 03:52 PM)
--- End quote ---
Are you still running your mining setup? And is it still generating an appreciable amount?
-wraith808 (November 04, 2015, 04:32 PM)
--- End quote ---
(hehe) No. The miners I have are on the wrong side of unity, so they cost more to operate than they produce. I've got a friend listing them on eBay to see what (if anything) I can recoup from them. I may buy another faster/more efficient miner...or I may give up and bail. The coin currently is at $370 so I'm hosed if I selloff now. I'd have been fine if I could have dumped the bulk of the nut this morning @$499.60 ... But that plan got hosed by the exchange's hyper paranoid 3 factor authentication. By the time I (left work and) got home I'd already missed the crest ... So now I'm just right back to being slightly totally fucked again..
Yay...
Deozaan:
I really want to get into BC... but I don't even know where to start with it doing this mess.-wraith808 (November 04, 2015, 02:49 PM)
--- End quote ---
I read somewhere recently-ish that it was practically impossible (for the average person) to earn more money through mining than the cost of the power expended to run the mining hardware. But that may have been before the even-more-recent-ish rally that BTC has had.
I, too, am interested in getting into BTC, but I have no idea how to create a wallet. And I lack basic knowledge about BTC, such as if it's even possible to have a wallet without mining.
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