Hello All!

[razalloveragain]

My Name is razalloverain, as you can see. But you may call me RAz.

Just wanted to introduce myself quickly and ask a few questions:

1. I recently started mining, i'm running at like 115Mhash/s, Is this a decent speed? Can I expect to make anything at all?

2. I expect that bitcoin is a currency that consistently gains value? Could someone explain this to me a bit?

3. Is there anything you guys could tell me to help me increase my earnings?

Any help or suggestions to help me make best of this would be greatly appreciated.


=D

RAz

[razalloveragain]

Also, I am away from my PC right now, and I wanted to take advantage of some of these *free bitcoin offers* (the very small .0001 amounts for watching an ad and what not) Is it safe to use one of the free *wallet* sites that generate a wallet for you, then I could just transfer the Bitcoins when I get home? Thanks in advance for answers!

[b!z]

Also, I am away from my PC right now, and I wanted to take advantage of some of these *free bitcoin offers* (the very small .0001 amounts for watching an ad and what not) Is it safe to use one of the free *wallet* sites that generate a wallet for you, then I could just transfer the Bitcoins when I get home? Thanks in advance for answers!

Yes, of course.
Many of them are trustworthy enough to keep 0.0001 Bitcoin safe for a few hours.

[razalloveragain]

Awesome! Thanks for the fast response! =D

[lassdas]

And to respond to your other questions:

1) Depends on what you would call decent speed, you can expect to make ~0.04BTC per day at current difficulty.

2) There will only be around 21million bitcoins, ever. Supply and demand, the more people use it, the more value it will have.

3) Get some better/faster hardware.

[b!z]

My Name is razalloverain, as you can see. But you may call me RAz.

Just wanted to introduce myself quickly and ask a few questions:

1. I recently started mining, i'm running at like 115Mhash/s, Is this a decent speed? Can I expect to make anything at all?

2. I expect that bitcoin is a currency that consistently gains value? Could someone explain this to me a bit?

3. Is there anything you guys could tell me to help me increase my earnings?

Any help or suggestions to help me make best of this would be greatly appreciated.


=D

RAz

1. You can make BTC if you are poolmining. If you are solomining (in 2012 lol), you probably won't get lucky.

[razalloveragain]

And to respond to your other questions:

1) Depends on what you would call decent speed, you can expect to make ~0.04BTC per day at current difficulty.

2) There will only be around 21million bitcoins, ever. Supply and demand, the more people use it, the more value it will have.

3) Get some better/faster hardware.

Awesome thanks man, I plan on getting a new rig set up specifically for bit mining and a couple other projects, something that I can run for weeks without worrying about it Overheating. I just wish I had jumped into Bitcoins when I found out about quite a while ago. Maybe a year or so. But better late than never!

[b!z]

And to respond to your other questions:

1) Depends on what you would call decent speed, you can expect to make ~0.04BTC per day at current difficulty.

2) There will only be around 21million bitcoins, ever. Supply and demand, the more people use it, the more value it will have.

3) Get some better/faster hardware.

Awesome thanks man, I plan on getting a new rig set up specifically for bit mining and a couple other projects, something that I can run for weeks without worrying about it Overheating. I just wish I had jumped into Bitcoins when I found out about quite a while ago. Maybe a year or so. But better late than never!

You're too already too late, Bitcoin was only good from the beginning to around late 2010.

[lassdas]

You're too already too late, Bitcoin was only good from the beginning to around late 2010.

Sorry, but that's BS.
Bitcoin isn't any worse than 1, or 2, or even 3years ago, the opposite is true, it's much better today, because you can actually buy stuff with your bitcoins today.

There's a difference between Bitcoin and the profitability of bitcoin-mining.

[razalloveragain]

You're too already too late, Bitcoin was only good from the beginning to around late 2010.

Sorry, but that's BS.
Bitcoin isn't any worse than 1, or 2, or even 3years ago, the opposite is true, it's much better today, because you can actually buy stuff with your bitcoins today.

There's a difference between Bitcoin and the profitability of bitcoin-mining.

Well in the long run, if bitcoin catches on, when the demand gets high and the bitcoins are coming in at a reduced rate, my reduced amount of bitcoins will become worth more. Correct?

[lassdas]

Hopefully, yes.
The question is, how you get those bitcoins now that will hopefully be worth more in the future.

If your hardware draws more electricity than it would cost you to just buy coins, it wouldn't make much sense to be mining, except for the fun.
So it's better to always keep an eye on power used, expected mining-rewards and the bitcoin-price.

[AvL42]

My Name is razalloverain, as you can see.

From what I see, it looks more like your (nick-)name was razalloveragain...   ;-)

(can't say much about the other questions, except that there are also free-bitcoin-services
that casually pay out more than just 0.0001 btc. e.g.: bitvisitor.com and I'd recommend
blockchain.info for your wallet.)

[razalloveragain]

Hopefully, yes.
The question is, how you get those bitcoins now that will hopefully be worth more in the future.

If your hardware draws more electricity than it would cost you to just buy coins, it wouldn't make much sense to be mining, except for the fun.
So it's better to always keep an eye on power used, expected mining-rewards and the bitcoin-price.

I mean I run my computer 24/7 Anyways, Does mining really spike power usage that much? How would I look at that?

My Name is razalloverain, as you can see.

From what I see, it looks more like your (nick-)name was razalloveragain...   ;-)

(can't say much about the other questions, except that there are also free-bitcoin-services
that casually pay out more than just 0.0001 btc. e.g.: bitvisitor.com and I'd recommend
blockchain.info for your wallet.)

Lol, I didn't even notice >.<.

[kwoody]

Is your computer a laptop of desktop? If it is a desktop, given your hashrate/s, I would assume you have a Radeon HD 6670 card? If you are mining with an nVidia card, you should stop, as it's costing you more in electricity than it would if you just bought the coins outright from an exchange. If it's a laptop, I wouldn't advise mining due to heat related issues; you don't want to kill your laptop due to overheating.

[razalloveragain]

Is your computer a laptop of desktop? If it is a desktop, given your hashrate/s, I would assume you have a Radeon HD 6670 card? If you are mining with an nVidia card, you should stop, as it's costing you more in electricity than it would if you just bought the coins outright from an exchange. If it's a laptop, I wouldn't advise mining due to heat related issues; you don't want to kill your laptop due to overheating.

I believe I'm using something along those lines, I can't remember seeing as I'm not home right now and it's been a while since I bought the card. I know i'm using a Radeon and it is a desktop. Heat really isn't an issue either, I keep my house around 60 degrees F at all time and have 6 fans on my case.