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Author Topic: I`m new to Bitcoin an advice would be apreciated  (Read 1158 times)
paysafecardbitcoin
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February 03, 2013, 02:57:31 PM
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hello everyone, i just downloaded a few hours ago my bitcoin program(bitcoin Wallet). Since is empty i want to earn some bitpoints. If no i have 100$ worth of paysafecards wich i`d like to trade them for 4 bitcoins(basically 1 coin for 25$).Offcourse i will give the codes first to any member that seems to be ok in this. I just want to have something in my wallet. Another thing is...how can i really earn bitcoins?

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February 03, 2013, 03:19:59 PM
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Okay, Uhh, please cleanup what you are trying to say...
What im gathering from you is that you are just starting to learn about Bitcoins and that you would like to (somehow) Earn bitcoins by trading Paysafe Cards
Another way to "earn" bitcoins is to "mine" them using a CPU/GPU/FPGA/ASIC (in order of weakest to strongest)
CPU mining is a waste of hardware
GPU mining is a waste of power
FPGA mining works great but is being phased out
ASIC mining is brandnew with Massive preorder lists and compleatley Dominates the competition

"mining" refers to doing calculations with your proccessing unit to solve mathematic equations to earn yourself a "block" of Twenty Five bitcoins but the difficulty of mining a "block" is so high that Majority of "miners" "aim" thier hardware at "pools" these pools are locations where the collective computing performance is put into solving/finding blocks and when a block is found, You will be paied a % of it, based on the number of "shares" you submitted to it.

Below is me running a mining program on my GPU to Mine bitcoins from a pool
Code:
cgminer version 2.10.4 - Started: [2013-01-28 09:22:27]
--------------------------------------------------------------------------------
 (5s):557.3M (avg):543.2Mh/s | Q:17314  A:64740  R:123  HW:0  E:374%  U:7.6/m
 ST: 2  SS: 0  DW: 34595  NB: 954  LW: 106688  GF: 1  RF: 0  WU: 7.6
 Connected to 50.31.149.57 diff 1 with stratum as user -----------
 Block: 04006673768058dc...  Diff:2.97M  Started: [07:10:09]  Best share: 44.2K
--------------------------------------------------------------------------------
 [P]ool management [G]PU management [S]ettings [D]isplay options [Q]uit
 GPU 0:  81.0C 4510RPM | 557.9M/543.2Mh/s | A:64741 R:123 HW:0 U: 7.60/m I: 7
--------------------------------------------------------------------------------

 [2013-02-03 07:15:15] Accepted 9655052a Diff 1/1 GPU 0 pool 0
 [2013-02-03 07:15:15] Accepted c119b980 Diff 1/1 GPU 0 pool 0
 [2013-02-03 07:15:25] Accepted 7ca73a28 Diff 2/1 GPU 0 pool 0
 [2013-02-03 07:15:50] Accepted a2b2fb45 Diff 1/1 GPU 0 pool 0
 [2013-02-03 07:15:52] Accepted 6a1472e5 Diff 2/1 GPU 0 pool 0
 [2013-02-03 07:15:58] Accepted 0a0e3dca Diff 25/1 GPU 0 pool 0
 [2013-02-03 07:16:04] Accepted c3d8b7bb Diff 1/1 GPU 0 pool 0
 [2013-02-03 07:16:21] Accepted ab6464e2 Diff 1/1 GPU 0 pool 0
 [2013-02-03 07:16:28] Accepted dfc53f8f Diff 1/1 GPU 0 pool 0
 [2013-02-03 07:16:51] Accepted 47af9db1 Diff 3/1 GPU 0 pool 0
 [2013-02-03 07:16:59] Accepted 7c4bb637 Diff 2/1 GPU 0 pool 0
 [2013-02-03 07:17:18] Accepted 00f60c68 Diff 266/1 GPU 0 pool 0
 [2013-02-03 07:17:22] Accepted 038df8c5 Diff 72/1 GPU 0 pool 0

Above you can see that my GPU earns me about Seven and a Half shares per minute, and one share is worth 0.00000816 BTC by "mining" at 557.9MegaHashes per second
This earns me about .1btc every 24hours

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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February 03, 2013, 03:29:36 PM
 #3

how can i really earn bitcoins?
How can you really earn dollars?
With bitcoins it works the same way, you do some work, you offer services, you sell stuff.
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February 03, 2013, 03:39:49 PM
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Quote
Another way to "earn" bitcoins is to "mine" them
Seriously no. Today mining isn't exactly profitable. Suggesting a new guy to mine is a bad idea.
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February 03, 2013, 03:49:08 PM
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Quote
Another way to "earn" bitcoins is to "mine" them
Seriously no. Today mining isn't exactly profitable. Suggesting a new guy to mine is a bad idea.
Im not saying that is profitable, Nor that he should try mining, But that i am telling him a Way to earn coins is to mine them

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
paysafecardbitcoin
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February 03, 2013, 04:41:57 PM
 #6

wow. thanks. so basically i`m very discouraged right now lol.
I was looking to invest 1000$ but dont know how, with who, and if its the good ideea. thanks everyone for your time. and if anyone needs those paysafecards i`m going to sell them. my wally almost synchronized.
Also about mining...i suppose i have to learn some coding...or i have to buy some hardware. i`ve read in manny places but offcourse nobody will give you the `key` to do exactly what is needed. I dont want to get rich . i also want to support the community somehow. And the thing is the money i`ll earn(if any) is to donate it to my soccer club wich is in the worst period of its history. I know i dont talk about much money, but its better than nothing..at least they can buy some vitamins Smiley.
If anyone wants to help me(i understand are thousands like me and everyone wants this),i`m ready to share, and work with anyone openeminded. I also have some websites, and i learn fast.
One of you guys said about mining...that is a waste for the hardware. i have 3 computers in my house. would they be ok? in how much time i could earn 1 bitcoin with 3 computers? 1 day 5 days? 1 week?
Not sure if its ok to post my skype id...but i`ll do it just in case.my id is bigtrader11 . I mention that i been scammed on some other forums for some of my paysafecards ...so i`ll be vigilent.


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February 03, 2013, 04:46:08 PM
 #7

Well, mining on a computer requires a good discrete ATI GPU, but this is gradually going to be phased out by the incoming of ASICS. Take a look at Avalon or BFL for example. I would say that trading and buying bitcoins is the best way to invest now as the future of bitcoin mining is still unsure.

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February 03, 2013, 04:46:50 PM
 #8

wow. thanks. so basically i`m very discouraged right now lol.
I was looking to invest 1000$ but dont know how, with who, and if its the good ideea. thanks everyone for your time. and if anyone needs those paysafecards i`m going to sell them. my wally almost synchronized.
Also about mining...i suppose i have to learn some coding...or i have to buy some hardware. i`ve read in manny places but offcourse nobody will give you the `key` to do exactly what is needed. I dont want to get rich . i also want to support the community somehow. And the thing is the money i`ll earn(if any) is to donate it to my soccer club wich is in the worst period of its history. I know i dont talk about much money, but its better than nothing..at least they can buy some vitamins Smiley.
If anyone wants to help me(i understand are thousands like me and everyone wants this),i`m ready to share, and work with anyone openeminded. I also have some websites, and i learn fast.
One of you guys said about mining...that is a waste for the hardware. i have 3 computers in my house. would they be ok? in how much time i could earn 1 bitcoin with 3 computers? 1 day 5 days? 1 week?
Not sure if its ok to post my skype id...but i`ll do it just in case.my id is bigtrader11 . I mention that i been scammed on some other forums for some of my paysafecards ...so i`ll be vigilent.



This was difficult to process but I've added your skype ID. I'm interested in the Paysafcards.

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February 03, 2013, 05:02:20 PM
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. . . One of you guys said about mining . .  i have 3 computers in my house. would they be ok? in how much time i could earn 1 bitcoin with 3 computers? 1 day 5 days? 1 week? . . .

That depends a lot on what sort of Graphics Processing Unit (GPU) you have in the computers.  If each of your computers have the same GPU as JackRabbit has in his one computer, then according to his statement:

. . . you can see that my GPU earns me about Seven and a Half shares per minute, and one share is worth 0.00000816 BTC by "mining" at 557.9MegaHashes per second
This earns me about .1btc every 24hours

It would seem that you could earn 1 BTC every 3.33 days.  Of course, as ASIC roll out, the difficulty will increase and you will receive less BTC.  Also don't forget to consider the cost of the electricity required to run the GPU 24 hours a day at full load.  So you may end up spending $30 in electricity for every $20 worth of BTC that you mine.  It may be cheaper to just pay the fees at a bitcoin currency exchange and exchange your non-bitcoin money for bitcoin directly.

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February 03, 2013, 05:44:57 PM
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. . . One of you guys said about mining . .  i have 3 computers in my house. would they be ok? in how much time i could earn 1 bitcoin with 3 computers? 1 day 5 days? 1 week? . . .

That depends a lot on what sort of Graphics Processing Unit (GPU) you have in the computers.  If each of your computers have the same GPU as JackRabbit has in his one computer, then according to his statement:

. . . you can see that my GPU earns me about Seven and a Half shares per minute, and one share is worth 0.00000816 BTC by "mining" at 557.9MegaHashes per second
This earns me about .1btc every 24hours

It would seem that you could earn 1 BTC every 3.33 days.  Of course, as ASIC roll out, the difficulty will increase and you will receive less BTC.  Also don't forget to consider the cost of the electricity required to run the GPU 24 hours a day at full load.  So you may end up spending $30 in electricity for every $20 worth of BTC that you mine.  It may be cheaper to just pay the fees at a bitcoin currency exchange and exchange your non-bitcoin money for bitcoin directly.

Woah woah woah, Where the heck did you get your math from .1btc over 24 hours = 1btc per 24days Not 3.33days

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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February 03, 2013, 06:03:49 PM
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Woah woah woah, Where the heck did you get your math from .1btc over 24 hours = 1btc per 24days Not 3.33days
Woah, woah, woah,  try again.

0.1 BTC over 24 hours = 0.1 BTC per 1 day (24 hours = 1 day)

0.1 BTC per 1 day = 1 BTC per 10 days (1 BTC divided by 0.1 BTC per day = 10 days)

Your calculation seemed to indicate a single computer with a single GPU.

paysafecardbitcoin indicated 3 computers, and I specified "each of your computers have the same GPU as JackRabbit".  This would triple the hash rate (same hash rate on each computer times 3 computers) which should triple the revenue.

10 days divided by 3 computers = 3.33 days per 1 BTC (or 3 BTC per 10 days).

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February 03, 2013, 06:26:07 PM
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Woah woah woah, Where the heck did you get your math from .1btc over 24 hours = 1btc per 24days Not 3.33days
Woah, woah, woah,  try again.
-snip-
Ahhh i see what you did there, I read it too fast

http://bitcoin-otc.com/viewratingdetail.php?nick=DingoRabiit&sign=ANY&type=RECV <-My Ratings
https://bitcointalk.org/index.php?topic=857670.0 GAWminers and associated things are not to be trusted, Especially the "mineral" exchange
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February 03, 2013, 06:29:10 PM
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Woah woah woah, Where the heck did you get your math from .1btc over 24 hours = 1btc per 24days Not 3.33days
Woah, woah, woah,  try again.
-snip-
Ahhh i see what you did there, I read it too fast
No worries.  I generally try to be careful with my math, but I can't say I've never made an error.

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February 03, 2013, 06:44:21 PM
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One good tip would be to keep a back-up of your wallet so you don't lose your coins, and make sure it's actually a legit wallet not a trojan wallet that will just steal your coins.
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February 03, 2013, 08:35:02 PM
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One good tip would be to keep a back-up of your wallet so you don't lose your coins, and make sure it's actually a legit wallet not a trojan wallet that will just steal your coins.
Wow. its so hard when you`re new in a branch.What you mean with a backup of my wallet? ...and how do i know its a legit wallet and not a trojan wallet?
And btw i started to synchronize my wally like 10 hours ago. and it almost stoped at 89%..its very slow. so basically i dont even have a wallet yet.Basically with 3 good computers i can get like 1 bitcoin wich is about 7$ a day at the moment...doesnt sound much profitable.Smiley. Dont know how expensive is electricity there...but here in my country i dont think is that expensive .
DannyHamilton Buying bitcoins wouldnt bring me any profits i think.i mean..its just a currency exchange. but offcourse since i give cash money in exchange of bitcoins i can get some small profits. it seems i`ll have to read more to be safe in this `game`. trojan wallets...wallet backup...new terms for me:).

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February 03, 2013, 08:55:00 PM
 #16

Use a client like Multibit, no need to download the whole blockchain.
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February 03, 2013, 09:00:23 PM
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One good tip would be to keep a back-up of your wallet so you don't lose your coins, and make sure it's actually a legit wallet not a trojan wallet that will just steal your coins.
Wow. its so hard when you`re new in a branch.What you mean with a backup of my wallet? ...and how do i know its a legit wallet and not a trojan wallet?
And btw i started to synchronize my wally like 10 hours ago. and it almost stoped at 89%..its very slow. so basically i dont even have a wallet yet.Basically with 3 good computers i can get like 1 bitcoin wich is about 7$ a day at the moment...doesnt sound much profitable.Smiley. Dont know how expensive is electricity there...but here in my country i dont think is that expensive .
DannyHamilton Buying bitcoins wouldnt bring me any profits i think.i mean..its just a currency exchange. but offcourse since i give cash money in exchange of bitcoins i can get some small profits. it seems i`ll have to read more to be safe in this `game`. trojan wallets...wallet backup...new terms for me:).

Bitcoin is a currency.  To get bitcoin you do the same things you would do in any other currency:

  • You can sell stuff you own and accept payment in bitcoin.
  • You can provide a service that someone else wants and accept payment in bitcoin
  • You can exchange your local currency for bitcoin using a bitcoin currency exchange
  • You can beg for bitcoin and hope that some kind soul will donate to you.

Like with any other currency, to bring a profit you need to make sure that your costs associated with your activity are less than the revenue you get from the activity.

In addition you can mine for bitcoin if you have a really good graphics card (or FPGA) and access to really cheap electricity.

Synchronization in the reference client (Bitcoin-Qt) takes a very long time the first time you do it. The reference client (Bitcoin-Qt) is a "full node" and as such it downloads/synchronizes the entire blockchain containing every bitcoin transaction that has ever occurred since bitcoin began a bit more than four years ago and validates that every one of those transactions is legitimate.  You may also want to look into one of the "lightweight" wallets such as Electrum, or Multibit, or you might want to consider a web hosted wallet such as blockchain.info/wallet.

To spend bitcoin requires private keys for a cryptographic signature on the transaction.  Most of the wallets take care of maintaining your private keys for you, so you generally don't see them or know what they are.  However, if your hard-drive crashes, or you somehow loose access to the file that stores those private keys, you can never again spend any of the bitcoins that were in that wallet.  This is why people recommend backups.  A backup would store a duplicate copy of the private keys in a safe location.  In the case of the Bitcoin-Qt wallet the file that needs to be backed up is called "wallet.dat".

To know that the wallet you are using is a legit wallet you have a few options.

You could download the source code, read through it all and make sure that it is programmed exactly the way it is supposed to be.  Then you can compile that source code yourself using a compiler that you trust.

Many people have already done this.  If you trust that the community would alert you if there was something malicious in the program, then you can download the already compiled program from a trusted source such as bitcoin.org (or wherever the community states that client you choose to use is hosted).

With 3 good graphics cards you might be able to get 1 BTC every 3.5 days (not 1 BTC every day).  It doesn't matter much how good the computer is, it matters a lot how good the GPU is, and no, mining isn't very profitable unless it is done in a large way with cheap electricity.


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February 03, 2013, 11:35:26 PM
 #18

One good tip would be to keep a back-up of your wallet so you don't lose your coins, and make sure it's actually a legit wallet not a trojan wallet that will just steal your coins.
Wow. its so hard when you`re new in a branch.What you mean with a backup of my wallet? ...and how do i know its a legit wallet and not a trojan wallet?
And btw i started to synchronize my wally like 10 hours ago. and it almost stoped at 89%..its very slow. so basically i dont even have a wallet yet.Basically with 3 good computers i can get like 1 bitcoin wich is about 7$ a day at the moment...doesnt sound much profitable.Smiley. Dont know how expensive is electricity there...but here in my country i dont think is that expensive .
DannyHamilton Buying bitcoins wouldnt bring me any profits i think.i mean..its just a currency exchange. but offcourse since i give cash money in exchange of bitcoins i can get some small profits. it seems i`ll have to read more to be safe in this `game`. trojan wallets...wallet backup...new terms for me:).

Bitcoin is a currency.  To get bitcoin you do the same things you would do in any other currency:

  • You can sell stuff you own and accept payment in bitcoin.
  • You can provide a service that someone else wants and accept payment in bitcoin
  • You can exchange your local currency for bitcoin using a bitcoin currency exchange
  • You can beg for bitcoin and hope that some kind soul will donate to you.

Like with any other currency, to bring a profit you need to make sure that your costs associated with your activity are less than the revenue you get from the activity.

In addition you can mine for bitcoin if you have a really good graphics card (or FPGA) and access to really cheap electricity.

Synchronization in the reference client (Bitcoin-Qt) takes a very long time the first time you do it. The reference client (Bitcoin-Qt) is a "full node" and as such it downloads/synchronizes the entire blockchain containing every bitcoin transaction that has ever occurred since bitcoin began a bit more than four years ago and validates that every one of those transactions is legitimate.  You may also want to look into one of the "lightweight" wallets such as Electrum, or Multibit, or you might want to consider a web hosted wallet such as blockchain.info/wallet.

To spend bitcoin requires private keys for a cryptographic signature on the transaction.  Most of the wallets take care of maintaining your private keys for you, so you generally don't see them or know what they are.  However, if your hard-drive crashes, or you somehow loose access to the file that stores those private keys, you can never again spend any of the bitcoins that were in that wallet.  This is why people recommend backups.  A backup would store a duplicate copy of the private keys in a safe location.  In the case of the Bitcoin-Qt wallet the file that needs to be backed up is called "wallet.dat".

To know that the wallet you are using is a legit wallet you have a few options.

You could download the source code, read through it all and make sure that it is programmed exactly the way it is supposed to be.  Then you can compile that source code yourself using a compiler that you trust.

Many people have already done this.  If you trust that the community would alert you if there was something malicious in the program, then you can download the already compiled program from a trusted source such as bitcoin.org (or wherever the community states that client you choose to use is hosted).

With 3 good graphics cards you might be able to get 1 BTC every 3.5 days (not 1 BTC every day).  It doesn't matter much how good the computer is, it matters a lot how good the GPU is, and no, mining isn't very profitable unless it is done in a large way with cheap electricity.



thanks. It seems this is a community where people are really serious..wich i never doubted. Thanks for spending the time to answer me.

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February 04, 2013, 10:23:08 AM
 #19

One good tip would be to keep a back-up of your wallet so you don't lose your coins, and make sure it's actually a legit wallet not a trojan wallet that will just steal your coins.
There's nothing like a 'trojan wallet'. There's wallet stealing viruses around, but I've never heard of a trojan wallet before.

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February 04, 2013, 10:38:03 AM
 #20

Tips

1. Start out with an online wallet
http://www.blockchain.info/wallet

the standard QT wallet
takes hours to sync, especially
if you're new.

Basically, the newer you are,
The longer it takes. Torture.

2. Invest, once bitcoin value is low
 (Or whenever you feel like it)

You get more bitcoins
for less dollars.

3. Learn about mining
but don't do it just yet

It's not profitable for newbies
or people who just want to use
Bitcoins as a currency to trade.

4. Don't trust just anyone
but trust some.

Just like money, bitcoin is
a game of trust. Learn who to trust.

5. Lurk around the forums often.
BTCtalk helps in many different ways.

from free advertising, a place for
business and to meet new people,
Possibly your future clients.

EndTheFed123, if you had just taken the money it wouldn't have ended like this Sad
BTW this hasn't been the real DPony13 since he "came back", I just hacked this account, SirLolicon is the real DPony13 I think.
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