Bitcoins renewed

[Kalphiter]

okay so
pros
money
cons
overheating
high powerbill?

is it worthit guys?

"1200W" will be the rating I use for a very power-hungry computer.

1200W * 86400 seconds = 103680000 W*seconds = 103680 kW*seconds = 28.8 kWh
Rates for a kWh can be $0.10 and even up to $0.40 in places like Hawaii.

That's only a few dollars per day; mining can be profitable.

[Ad Bot]

[Dexxtter]

I'm a bit confused as to what this is. You can't do it on a normal computer?

[Kalphiter]

I'm a bit confused as to what this is. You can't do it on a normal computer?

You can, however you will probably need to invest in higher-grade graphics hardware.

[SiliconCactus]

how much money do i have to throw at my i3-2100 to make a bitcoin

[Kalphiter]

https://en.bitcoin.it/wiki/Mining_hardware_comparison

[Yola²]

What exactly makes dollars worth anything? There's no real money backing them, and they're just pieces of paper so they have no precious metal content... I'm not sure how these things would even work as money.

Bitcoins are just like any other currency. Not really worth anything, they just represent value.

Uh what ?  The US dollar has metal backing...  Do you not understand how modern currency works ?

That's the reason we can't just print more money to solve debt.

[Bloody Mary]

Bitcoins are a bad idea to invest in IMO. They are not an actual currency and their economy is not stable at all. Most people turn their bitcoins into actual money which should speak volumes about how reliable bitcoins are.

[ShadowsfeaR]

how much money do i have to throw at my i3-2100 to make a bitcoin

My GPU would get around 287 to 363 millions hashes per second. Is this decent? :u

[Dexxtter]

You can, however you will probably need to invest in higher-grade graphics hardware.

It's just the better the graphics hardware the faster it goes right?

Also does Mining use bandwidth?

[snk13]

How do you join "pools"?

[Titanium Man]

wait, so if you buy this http://products.butterflylabs.com/homepage/1500gh-bitcoin-miner.html which does 1500 gh/s which is 1500000 mh/s

you get this much money per year?? http://tpbitcalc.appspot.com/?difficulty=4367876.0008&hashrate=1500000.00&exchangerate=43.25&bitcoinsperblock=25.00&rigcost=29000.00&powerconsumption=1500.00&powercost=0.10&investmentperiod=355

if you pay 30000 bucks then you can 2 million a year? something seems weird here

[TeslaCoil]

So is overheating actually an active issue and is there a way to keep your PC cool during the process?

[Titanium Man]

So is overheating actually an active issue and is there a way to keep your PC cool during the process?

buying a good cpu cooler is the only thing that makes sense

[SiliconCactus]

water cooling loops

[Dexxtter]

Also does Mining use a lot of bandwidth?

Like really guys I gotta know this.