Bitcoins renewed

[Linkusofepica]

Wait so again, what's a bitcoin?

Its just another form of currency, mainly used on the internet.

[Ad Bot]

[Tetris]

i have a feeling that there is some kind of catch

this can't possibly just generate money

[Kalphiter]

wait wtf is this

so you join a pool of people mining and you get bitcoins faster than if you solo it

but you have to pay taxes?!

It's extremely unlikely that you'll mine a block at a small scale. When you pool resources, it's much easier to mine an entire block and for everyone to get a chunk of that proportional to the amount of hashes he solved. By "taxes", I mean the small amount that isn't passed onto the miner.

[Tetris]

to the amount of hashes he solved.

what is all this terminology

[Daswiruch]

Got myself a wallet, made a custom folder for it on my desktop. Ended up accidentally naming it "Bitcon."
Makes me suspicious foretelling.

[Linkusofepica]

i have a feeling that there is some kind of catch

this can't possibly just generate money

[Frontrox]

As far as I know there isn't a catch, it just takes a while to get a whole coin.

[Squideey]

buttcoins

[Tetris]

As far as I know there isn't a catch, it just takes a while to get a whole coin.

okay so let me get this straight...

you get paid for waiting

[Kalphiter]

i have a feeling that there is some kind of catch

this can't possibly just generate money

It's not free money, you need to invest computer power.

[Squideey]

okay so let me get this straight...

you get paid for waiting

How about when you need to pay for your internet connection and electricity

[Frontrox]

okay so let me get this straight...

you get paid for waiting

Yeah but you can't really use your computer while you mine coins

[Choi]

I think I have 0.00041 bit coins

[Tetris]

How about when you need to pay for your internet connection and electricity

...what if someone else is paying for this

Yeah but you can't really use your computer while you mine coins

overnight?

[Frontrox]

overnight?

Sure, but you wont get much if your computer is stuff, and it could possibly overheat.