Bitcoin Rigs Discussion

[sir dooble]

I think the craziest thing about bitcoin is not how you get them, but the fact that people have given them worth, despite not being an actual object, nor serving any purpose besides being exchanged in lieu of other currencies.

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[TheABELBOTO]

The only thing bitcoin is good for is investing stocks on them and making $$$

[Oasis]

Basically you make the computer try to solve really hard problems. When you find a solution to the problem, you can exchange that solution for a bitcoin, which is used as currency.

I don't understand this part of Bitcoin, the rest is golden to me. Are these math problems going towards anything, or is it just an arbitrary way of limiting the amount of bitcoin that can be "created" at any time?

[Bisjac]

I got a rig with 4 750ti's digging dogecoins lol

[EcstaticEggplant]

do you actually make money from this if you consider electrical costs? if so, how much?

[Bisjac]

In doges i earn about 400 dollars a month. Running 24/7
It technically is a huge profit from when i built it, but its not big money lol.
But the 750ti is pretty power efficient, even the long cards.

[Nickpb 2.0]

I think the craziest thing about bitcoin is not how you get them, but the fact that people have given them worth, despite not being an actual object, nor serving any purpose besides being exchanged in lieu of other currencies.

Considering its the currency that runs the darknet which  lets me buy drugs with an untraceable piece of data id say i'm completely pro bitcoin

[Tokthree]

I don't understand this part of Bitcoin, the rest is golden to me. Are these math problems going towards anything, or is it just an arbitrary way of limiting the amount of bitcoin that can be "created" at any time?

I'm not sure but I think it's something more like decrypting data rather than math problems. I remember watching a video that explained it a while back but I forgot most of it's content

[Tayasaurus]

I think the craziest thing about bitcoin is not how you get them, but the fact that people have given them worth, despite not being an actual object, nor serving any purpose besides being exchanged in lieu of other currencies.

Paper money can fall under this just as easily. Even as a physical object its pretty worthless. Gold and Silver on the otherhand have a universal understanding of having "value" though, even if it's worthless without a stable economy. Your money, paper or not paper is fiat and its one of the worst scams in history.

[Bisjac]

My gold and silver has value even if no other currency exists. They trade for anything. And even convert back into a new established currency at a later time.

[Nickpb 2.0]

People do like shiny things

[Otis Da HousKat]

I think the craziest thing about bitcoin is not how you get them, but the fact that people have given them worth, despite not being an actual object, nor serving any purpose besides being exchanged in lieu of other currencies.

The value of anything is arbitrary though. In general we assign value to goods and services based on how much use they have to us. In this case bitcoins act as an anonymous and secure method of making payments towards those goods and services, an intangible but attractive benefit to those who do it. People often think of their bitcoins in how much worth they are in USD, but we do the same for barrels of oil and gold right?

People do like shiny things

Shiny, sufficiently rare, and easy to process and store!

[Tayasaurus]

People do like shiny things

I can do a lot of things for a silver or gold coin :)

[Frankie²]

at this point bitcoin is too unstable to really make huge investments into unless you can afford the loss

[Nickpb 2.0]

I can do a lot of things for a silver or gold coin :)

I will test this theory :p