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lol, no disrespect but your post sounded funny!
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WTF dude? I'm in here since this was like an uber-secret masonic club with a handful of members.
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-- you do realized that you ask question/questioned the identity behind the guy who wrote bitcoin, but try to prove your identity based on the fact your were on this website for a long time now.
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I wonder with a $5,000 of investment and solar panels included, if one can make solid $1,000 per month. that would be pretty solid 1:5 investment! Now I apologies, I thought the MSRP was 400 USD So, yes, it is safer to just buy Bitcoins, right now with are 0.01 USD over the maximum historical of about 3 months ago. The volume looks high and there are more bids than asks. We might rally to 1.5 USD or go down to 0.95 USD. take your pick.  |
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you mean to buy on stock exchange and wait for the currency to go up? -- why would I need hardware to sell? In my opinion directly buying Bitcoins is a better investment, though more risky because you have no hardware to resell.
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thank you for your input. how about solar panels (I live in Florida) why you say "1200 in the first month" -- does it have to go down after first month?? No you cannot make a living off it unless you have a cheaper than usual energy source.
With those 5K you can buy 8x 6990.(2GPUs each) for a total mining power of 5.6 GHahes/sec
At that rate you would be generating on average each 19 hours, 46 minutes and this rate would last for 2 weeks approximately. It means you would be guaranteed about 850 BTC and at current difficulty jumps, this being a wild guess, you would be able to get top 1200 in the first month.
As far as the BTC <-> USD goes, it may go up or down. Nobody can guarantee you an outcome. The most favourable outcome for you would be it to continue rising to the 1 BTC = 5 USD if you plan to ever get your investment back. Please note I didn't include the electricity costs, the system would consume about ~3K watts or even ~4K watts and cooling will be a bitch.
You may hoard them if you wish and wait for them to be profitable to sell, which isn't a guarantee. The alternative is just to buy goods and services with them after mining.
/Note: The average time is of constant work. If it is shut down it doesn't count and it is of the 8x 6990 working together, not each individual one.
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hi there dear forum. I just learnt about bitCoins today and read through all I could all day long.
I even watched some youTube videos on ppl building their own "mining rigs" only for mining purpose.
but one thing everyone fails to mention, is in reality how much money can I "mine" ?
let say I have $5,000 saved and can spend it on high-GPU computer.
can you give me some sort of break-down on how much can one make by mining bitCoins? such as initial investition, monthly payments, monthly return from mining?
is it easy and proof to sell your bitCoins? I read there is some market out there, but is it legitimate? Can you make a basic living out of it, with enough GPU??
thanks.
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well, the reason why bitCoin is so effective is its de-centralization. So, it is impossible for anyone, including Government to take control over it. This is why there was never a successful attempt to take over a P2P traffic or protocol itself -- I am sure Government would tax the hell out of it, and tried to control it many time before.
The only option is to shut it down, seriously. Government is not interested in controlling a currency that they cannot control, and that, unfortunately, make sense.
here is what they can do:
they can strongly push with ISPs to block the bitCoin traffic, if one can be "patterned-out" out of your traffic. But rest assured -- bitCoin ARE serious competitor to Federal Reserve, and those guys not only make up rules, they can break them as well. IF they feel enough threatened, nothing stops them from printing another $1 billion "REAL" money to invest it into "bitCoin takedown" project (hire more law enforcements, push with legislations and mobbing in us gov)
if bitCoins become a self-sufficient currency, that is you can live your live, feed your family, pay your bills, and survive a normal life without touching US-reserve printed money, then this would dismantle the US Government. I really dont see a problem with congress passing a law to make a use of bitCoins as illegal as owing illegal gun with longtime jail sentence. After all, derailing or an attempt to destabilize US Government (through a new type of currency) is an act of terrorism, and I am not joking here.
I am sure other governments will follow.
We are definitely living in interesting times...
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