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bigasic
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April 10, 2015, 05:17:42 PM |
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You should have put one more option. Sell... I haven't purchased a bitcoin since it went above 10 dollars, but I certainly did sell a lot at the all time high. My only regret is that I didn't sell all of them at that time. I mined probably 80 percent of all my coins. Mined like a mad man with a bunch of FPGA singles when they first came out, the singles were extremely profitable until the summer of 13.
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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BitcoinPenny
aka CJBianco
Legendary
 Offline
Activity: 2662
Merit: 2203
BitcoinPenny.com
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April 10, 2015, 05:23:14 PM |
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Buying mine. Sadly, I found out about bitcoin far too late in the game to mine for profit.  Me |
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Lauda
Legendary
Offline
Activity: 2674
Merit: 2965
Terminated.
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April 10, 2015, 05:28:24 PM |
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diff was around 7M to be precise, i remember it because it was around the time i started mining, with one gpu you could do 1 btc every two months(i got some luck with p2pool)
but we should remember that bitcoin was worth less than 100 at that time
That's perfectly fine for a hobby. A hobby is not something that you're supposed to be earning money with. That really depended on the GPU. I bought 6 GPUs for starters and enjoyed watching them work. Maintaining them was horrible and fun at the same time. |
"The Times 03/Jan/2009 Chancellor on brink of second bailout for banks" 😼 Bitcoin Core ( onion) |
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ensurance982
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April 10, 2015, 07:18:31 PM |
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When i first started, I bought some coins in order to buy some mining hardware. But I soon found out that mining was very unprofitable already. I'm mainly buying coins today.
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We Support Currencies: BTC, LTC, USD, EUR, GBP
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maku
Legendary
Offline
Activity: 1288
Merit: 1000
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April 10, 2015, 07:35:32 PM |
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When i first started, I bought some coins in order to buy some mining hardware. But I soon found out that mining was very unprofitable already. I'm mainly buying coins today.
That is the sad truth. For me it is the same. Mining was already unprofitable when I first get to know about bitcoin. And since then it is time of big mining farms only and not individual miners... The only way is to buy it and I gotta say it is still great investment. |
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spazzdla
Legendary
Offline
Activity: 1722
Merit: 1000
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April 10, 2015, 08:22:22 PM |
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Rather amusing you just ignore the guy. If you are here one would figure you would understand his point of view....
Jekyll Island..
Privatised banking..
Zionism being an acceptable thing..
On topic.. Both.
On should mine to protect the network else you are just a pleb.
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jwcastle (OP)
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April 10, 2015, 09:40:37 PM |
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For me, bitcoins was a good learning experience. I actually made a few bucks overall when I got out. I had a small farm of 10 Antminer S1's that I set up in my garage. I used the pencil mod to increase the efficiency because the cost of electricity was too high. And also running it at full voltage created too much heat. In the end, I turned off all the miners and sold a few on Ebay and everything else to a guy locally on Craigslist. I took a loss on the hardware, but the bitcoins I mined during that time made up for it. When I sold my bitcoins, it was exchanging at about $650/btc. I suppose I'm one of the lucky ones that didn't lose a ton of money trying to get in the mining business too late. I learned a lot and I'm still very interested in bitcoins, although I'm not holding any bitcoins and don't plan on buying any. Mining now is completely out of the question because of the incredibly high difficulty and the cost of electricity. Any mining rig I set up now is going to cost me money as soon as it's turned on.
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jwcastle (OP)
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April 10, 2015, 09:46:34 PM |
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One more thing I wanted to add.
MINING IS ADDICTIVE!!! It's fun watching your machines make money. And when everything is working like it's supposed to, you want more machines to make more money.
I started out with 1 Antminer S1. Then bought 2 more. Then bought 3 more. And then 4 more. I wanted to keep buying more but I soon realized that mining is getting to the point of being unprofitable. Then I started looking at more efficient machines like the S4, Spondoolies, Terahash, etc. Final decision was to get out quick before I'm stuck with hardware that I can't even give away.
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magic ice
Newbie
Offline
Activity: 37
Merit: 0
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April 11, 2015, 04:27:09 AM |
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I'd like to ask the users here about how you got started in bitcoins and how you acquire bitcoins.
So the two questions are:
1. When you started, did you MINE or did you BUY bitcons?
2. If you are a regular user of bitcoins currently, do you MINE or do you BUY bitcoins?
To start off the discussion, I can only answer question 1. I mined bitcoins when I started. Then I bought and sold bitcoins through an exchange.
I cannot answer question 2 because I'm no longer a regular user of bitcions.
I started with a given bitcoin. And when I say given, it was transferred to me without any services rendered. Maybe that is the best way to introduce bitcoin to someone, give it away. |
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yeponlyone
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April 11, 2015, 06:48:36 AM |
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1. I mined a few btc using a rig i built myself and i stored it in my garage. was a hassle to deal with the machine since i had to monitor it regularly but seeing how successful it became, i don't regret mining and selling them at the peak of $1000.
2. I would certainly buy it now since my job now doesn't grant me much time to take care of my rigs and electrical bills has increased since then.
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ashour
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April 11, 2015, 07:05:45 AM |
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I mostly earn my bitcoins doing small to medium tasks. I also trade in altcoin market once in a while.
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BitcoinINV
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April 11, 2015, 07:19:27 AM |
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when i started bitcoin i bought them for other ecurrencies and at current price i think buying bitcoin is profitable then mining
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jwcastle (OP)
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April 16, 2015, 06:22:01 AM |
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So does anyone here mine any more? I stopped about a year ago. I know that most people have turned off their rigs because of the cost of electricity is far more than the value of bitcoins mined.
That means only the mega-large farms and a few small home miners who get free electricity due to some rental arrangement are the last miners.
Is that an accurate assumption?
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Synister
Newbie
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Activity: 51
Merit: 0
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April 16, 2015, 08:39:31 AM |
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When I started, I had mine bitcoin but suffered heavy losses. So now I buy and trade
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3x2
Legendary
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Activity: 1526
Merit: 1004
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April 16, 2015, 10:25:54 AM |
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I bought my first BTC when it was 70usd and never mined, i did and still mine some alts.
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planetroving
Legendary
Offline
Activity: 2170
Merit: 1000
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April 16, 2015, 11:16:44 AM |
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I first started with Bitcoin by earning them with faucets, which was back in late 2013. When I had acquired some more knowledge on mining, I started to mine. It didn't work too well, as I got virtually nothing.
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manselr
Legendary
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Activity: 868
Merit: 1004
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April 16, 2015, 02:41:40 PM |
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Buying as much as I can, using my salary monthly (dollar cost average). It's the way to go, the rest of the ways to make BTC aren't stable enough and do not deliver me the results I want, which is to build a big stack for very long term.
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bennybong
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April 16, 2015, 03:14:21 PM |
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I bought a load of bitcoins when they were fairly cheap to buy 2 first gen avalons (batch 2). Mined 7-8BTC a day and made a tidy profit. The last of my mined coins were lost in mtgox and to blackarrow...
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Jeremycoin
Legendary
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Activity: 1022
Merit: 1003
𝓗𝓞𝓓𝓛
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April 16, 2015, 03:35:58 PM |
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I'm not started it with mine or but, I started it with Earn it. I Earned my first BTCitcoin with faucet, and it's a very small amount  . But I'm still happy with that, because it's my first time to have a BTCitcoin. And now, I'm still earn it buy doing a job and earn little in faucet. |
faucet used to be profitable |
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amiryaqot
Legendary
Offline
Activity: 1050
Merit: 1000
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April 16, 2015, 03:53:07 PM |
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I'm not started it with mine or but, I started it with Earn it. I Earned my first BTCitcoin with faucet, and it's a very small amount . But I'm still happy with that, because it's my first time to have a BTCitcoin. And now, I'm still earn it buy doing a job and earn little in faucet. are you really sure you earn a bitcoin from faucet but it seems impossible to get bitcoin from any faucet. how much referrals you there? i am buying bitcoin not mining because mining is much costly than current price. |
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