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Bitman_Begins
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June 18, 2011, 08:14:44 AM
 #1

How to generate bitcoins with the application? According to this article I've pasted below, it is possible to generate bitcoins using the spare processing power when your computer is idle?
(Very slowly, of course)
But I don't see the option in my application when I go to Settings --> Options?

http://pzxc.com/how-to-get-started-with-bitcoins

Quote
How do I get bitcoins?

You can download the Bitcoins application for Windows, Mac or Linux. There is nothing to configure; once installed the program automatically generates a bitcoins address for your account. You can get bitcoins either by selling goods and services for them, or by contributing CPU resources from your machine to the project, which are used to generate the cryptographic hashes the system is built on. Turn on Settings -> Generate Coins, and when your system is idle it will use your unused processor cycles to calculate hashes for the project. It takes a very long time to generate bitcoins this way, but it costs you nothing because your system was idle anyway.

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int_main
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June 18, 2011, 09:17:08 AM
 #2

This option has been removed from the client-GUI. You can still activate it though by running the client with the parameter "-gen".

But since it uses your CPU instead of your GPU and you're mining on your own, it is pretty much a waste of electricity nowadays. I suggest you take a look at the various Mining-Software and the concept of pools.
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June 18, 2011, 10:43:00 AM
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Actually I am stuck on the problem of whether it is worth it in financial terms? I mean, mining for BTC is Okay, but don't they cost more as your computer consumes more power?
I'd rather buy, than become just a miner on a rig  Undecided
The miners were all laid of By Maggie in the eighties round here and as they had wasted all their time doing just the one thing they didn't know what to apply themselves to....very sad!!

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June 18, 2011, 11:06:40 AM
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I've been mining in a pool using CPU starting 2-3 days ago. The first day I actually got 0.01 BTC. So it's not usefull to get many coins.

But now it's even starting to get worse: In one day I'm not even getting 0.001 BTC. So CPU mining is even starting to get useless to just get some amount of BTC instead of the zero balance when you start.
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