Brewer (OP)
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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!
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"In a nutshell, the network works like a distributed
timestamp server, stamping the first transaction to spend a coin. It
takes advantage of the nature of information being easy to spread but
hard to stifle." -- Satoshi
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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.
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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 |
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Brewer (OP)
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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
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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?
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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 |
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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. |
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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 1 BTC 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  |
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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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painmaker
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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 1 BTC, not to just own one  |
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