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Author Topic: Obviously new to Bitcoins since I'm posting here, and I want want some pointers.  (Read 414 times)
Brewer
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October 31, 2013, 08:16:44 AM
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Some pointers on where to get started. I've already gotten myself some from faucets/etc, but it isn't exactly that much (like 0.0013 BTC I think). Wondering what I should do with this now? Visit one of the gambling sites possibly? Invest? Loan out? Perhaps CEX.io, even though I've heard that isn't a very reliable option. Thanks ahead of time for any help guys!

Help me out and donate Grin trying to get started with the Bitcoin buy/sell business, but don't have the money to invest into it. [ 12eGnEKhxN2DpTgGJSuMgf9qAzEKb868Hx ]
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firstlast
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October 31, 2013, 08:20:57 AM
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What's your goal? 1BTC? As with all investments, it's easier to map out a plan when you know what the end goal is.
lambdaE
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October 31, 2013, 08:27:31 AM
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Some pointers on where to get started. I've already gotten myself some from faucets/etc, but it isn't exactly that much (like 0.0013 BTC I think). Wondering what I should do with this now? Visit one of the gambling sites possibly? Invest? Loan out? Perhaps CEX.io, even though I've heard that isn't a very reliable option. Thanks ahead of time for any help guys!


The USB Block Errupters cost now around 0.04 BTC. I guess you can wait a bit, these will cost less probably soon. You can get something physical this way, not bad considering you got it from free faucets

Brewer
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October 31, 2013, 08:35:13 AM
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@firstlast: As of right now, yes, my goal would be to hit the 1BTC mark.

@lambdaE: How effective/efficient are they? I'd like to avoid any hardware solutions as electricity isn't free for me x_x

Help me out and donate Grin trying to get started with the Bitcoin buy/sell business, but don't have the money to invest into it. [ 12eGnEKhxN2DpTgGJSuMgf9qAzEKb868Hx ]
painmaker
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October 31, 2013, 08:39:52 AM
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Are usb block erupters still of any reasonable use and if so, which one would that be for example?
the obvious one (btc-mining) shouldn't be worth the hassle any more, right?
KamaHomeless
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October 31, 2013, 08:55:48 AM
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Are usb block erupters still of any reasonable use and if so, which one would that be for example?
the obvious one (btc-mining) shouldn't be worth the hassle any more, right?

from what i understand, the eruptors aren't profitable anymore if you factor in energy costs
lambdaE
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October 31, 2013, 08:59:10 AM
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@lambdaE: How effective/efficient are they? I'd like to avoid any hardware solutions as electricity isn't free for me x_x


One USB Block Errupters draws 2.5 W, this cost almost nothing. I meant you could actually get something physical and bit fun to play with. They wont mine the BTC back, no doubt.

painmaker
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October 31, 2013, 09:03:46 AM
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One USB Block Errupters draws 2.5 W, this cost almost nothing. I meant you could actually get somethig physical and bit fun to play with.
But could that still bring Brewer closer to his 1BTC goal in foreseeable time?
edit: do I understand your edit correctly that a usb block erupter won't even mine back the ~0.04 BTC back that they cost? hmm... sad  Undecided
firstlast
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October 31, 2013, 09:05:15 AM
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Obviously the easiest way to get 1BTC is to purchase it on an exchange. Have you considered this? Faucets may hand out a minuscule amount of bitcoins, but gathering them in significant quantities will cost you a lot of time. Gambling with your current stash (3 cents) won't do much as you probably know.

Block erupters will earn you up to a few pennies per day. Ask yourself if this rate is worth the trouble of mining.

Unfortunately you don't have very many options if aren't willing to part with some amount of non-cryptocurrency.
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October 31, 2013, 02:28:36 PM
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Obviously the easiest way to get 1BTC is to purchase it on an exchange. Have you considered this? ...
Of course that a matter of interpretation but as I understood the OP his first goal was to generate 1BTC, not to just own one  Wink
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