new to bitcoin

[shoaib20695]

hi.i have no idea what bitcoin is,wat is it used for,how can i earn thru it.i searched topics here but WHAT ARE THESE PEOPLE TALKING ABOUT IN ABBREVATIONS.i sense people are getting profits here from these programs.....


CAN SOMEBODY HELP ME START HERE WITH THE BASICS. I HAVE MULTIPLE CPUs

[BurtW]

The best way to get Bitcoins at this point is to either a) buy them using your favorite fiat currency or b) sell a product or create a service and accept payments in Bitcoins.

Mining for Bitcions with a CPU or even thousands of CPUs is a total waste of time and energy.

Mining for Bitcoins with a GPU or even dozens of GPUs will soon be a total waste of time and energy.

Bitcoins will soon be mined using custom ASICs created specifically for that purpose but getting on the waiting list to get one of the ASIC units at this point is also probably a total waste of time and money.

Let me know if you have any more specific questions.

[greyhawk]

Mining for Bitcoins with a GPU or even dozens of GPUs will soon be a total waste of time and energy.

It already is after yesterday. People are jumping on Litecoin like ethiopian children on a loaf of bread.

[BurtW]

Mining for Bitcoins with a GPU or even dozens of GPUs will soon be a total waste of time and energy.

It already is after yesterday. People are jumping on Litecoin like ethopian children on a loaf of bread.

Don't confuse him with Litecoins, let's stick to Bitcoins.

What is Bitcoin?  An new (four year old) peer-to-peer form of "money" that is outside of most goverment control and all central banking system control.  We just passed the point where one half of all the Bitcoins that will ever be created/mined have been mined.  The other half will be created/mined over the next few decades.

[DannyHamilton]

. . . The other half will be created/mined over the next dozen decades.

FTFY

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

[htc]

The best way to get Bitcoins at this point is to either a) buy them using your favorite fiat currency or b) sell a product or create a service and accept payments in Bitcoins.

Mining for Bitcions with a CPU or even thousands of CPUs is a total waste of time and energy.

Mining for Bitcoins with a GPU or even dozens of GPUs will soon be a total waste of time and energy.

Wow. Thanks for the info. I was just about to sell everything and move to Alaska to mine bitcoins. So glad I read this first.

cheers

the ex-wannabe bitcoin miner

[Gabi]

Bitcoin is NOT a get rich quick scheme.

This said, read this nice article http://evoorhees.blogspot.it/2012/04/bitcoin-libertarian-introduction.html

[mjc]

hi.i have no idea what bitcoin is,wat is it used for,how can i earn thru it.i searched topics here but WHAT ARE THESE PEOPLE TALKING ABOUT IN ABBREVATIONS.i sense people are getting profits here from these programs.....


CAN SOMEBODY HELP ME START HERE WITH THE BASICS. I HAVE MULTIPLE CPUs

Check out my eBook on Amazon,  It is free today.  The goal of the eBook is to help new users like yourself.
www.amazon.com/Bitcoin-Step-by-ebook/dp/B00A1CUQQU/

[htc]

hi.i have no idea what bitcoin is,wat is it used for,how can i earn thru it.i searched topics here but WHAT ARE THESE PEOPLE TALKING ABOUT IN ABBREVATIONS.i sense people are getting profits here from these programs.....


CAN SOMEBODY HELP ME START HERE WITH THE BASICS. I HAVE MULTIPLE CPUs

Check out my eBook on Amazon,  It is free today.  The goal of the eBook is to help new users like yourself.
www.amazon.com/Bitcoin-Step-by-ebook/dp/B00A1CUQQU/

+1 - I've seen his book. It's a useful resource.