grumpyoldtroll
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Activity: 42
Merit: 0
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September 16, 2014, 02:23:51 AM |
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If you fund a mining hardware for bitcoin, is that expensive? How much will it worth?
It totally depends on its processing power. The more Hashes it can perform per second, the more income it will generate you. Keep in mind that the more hashing power comes online, the smaller your piece of the cake gets. There are 3600 Bitcoins distributed every day (on average, it fluctuates due to variance), they're effectively distributed between everyone, who is mining, depending on their respective hashing power. The more hashing power gets online, the less your piece gets in comparison. - This is a very simplistic explanation but it should give you a rough idea! It also depends on how much power the miner consumes... The more it consumes, the higher your electricity bill will get! Can you actually mention the hardware that can be used for that? |
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"Your bitcoin is secured in a way that is physically impossible for others to access, no matter for what reason, no matter how good the excuse, no matter a majority of miners, no matter what." -- Greg Maxwell
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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giveBTCpls
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September 16, 2014, 04:31:14 PM |
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Bitcoin is a form of currency without notes and coins, it is a digital currency.
In this era of Internet and digitization, we’ve moved from phone to VoIP calls, face-to-face meeting to video conferencing, fax to email, cable television to IP TV, and the list goes on. Bitcoin is the equivalent for money.
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Zebra
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September 17, 2014, 03:15:42 AM |
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How does Gold make you am oney making machine?
Gold is a very marketable product. It is before and it is today. Aside from that, Gold is well adopted by each and every people in the world. True that gold is widely accepted by almost every people in the world. You can sell it for other form of money, but it is not a money making machine. For the same reason, bitcoin is not a money making machine. |
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Zebra
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September 17, 2014, 03:21:14 AM |
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If you fund a mining hardware for bitcoin, is that expensive? How much will it worth?
It totally depends on its processing power. The more Hashes it can perform per second, the more income it will generate you. Keep in mind that the more hashing power comes online, the smaller your piece of the cake gets. There are 3600 Bitcoins distributed every day (on average, it fluctuates due to variance), they're effectively distributed between everyone, who is mining, depending on their respective hashing power. The more hashing power gets online, the less your piece gets in comparison. - This is a very simplistic explanation but it should give you a rough idea! It also depends on how much power the miner consumes... The more it consumes, the higher your electricity bill will get! Can you actually mention the hardware that can be used for that? You can use any sha256 ASIC to mine bitcoin. Example 1, Antminer S3: https://bitmaintech.com/productDetail.htm?pid=000201409100729132701XzQIXcc06AB Example 2, SP20: http://www.spondoolies-tech.com/products/sp20-jackson-october-batch-1Example 3, ASICMiner Tube: https://bitcointalk.org/index.php?topic=735728.0 |
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freedomno1
Legendary
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Activity: 1806
Merit: 1090
Learning the troll avoidance button :)
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September 17, 2014, 05:47:10 PM |
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What can bitcoin do? How do you make itbecome a money making machine?
Bitcoin can perform contracts of value by acting as a medium of exchange act as a low cost transfer system and perhaps change the way microfinance is handled you can make money by investing I guess and trying to create a new industry around it sort of a wild west still but its getting a bit more civil. |
Believing in Bitcoins and it's ability to change the world
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Mybitcoinz
Member
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Activity: 70
Merit: 10
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September 17, 2014, 05:52:26 PM |
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If you fund a mining hardware for bitcoin, is that expensive? How much will it worth?
It totally depends on its processing power. The more Hashes it can perform per second, the more income it will generate you. Keep in mind that the more hashing power comes online, the smaller your piece of the cake gets. There are 3600 Bitcoins distributed every day (on average, it fluctuates due to variance), they're effectively distributed between everyone, who is mining, depending on their respective hashing power. The more hashing power gets online, the less your piece gets in comparison. - This is a very simplistic explanation but it should give you a rough idea! It also depends on how much power the miner consumes... The more it consumes, the higher your electricity bill will get! Can you actually mention the hardware that can be used for that? You can use any sha256 ASIC to mine bitcoin. Example 1, Antminer S3: https://bitmaintech.com/productDetail.htm?pid=000201409100729132701XzQIXcc06AB Example 2, SP20: http://www.spondoolies-tech.com/products/sp20-jackson-october-batch-1Example 3, ASICMiner Tube: https://bitcointalk.org/index.php?topic=735728.0Or maybe a cheap block erupter only for learning purposes because you will earn more coins with faucets... |
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hlynur
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September 17, 2014, 08:20:44 PM |
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here's a really good in-depth vid regarding OP's question. "How Bitcoin Works Under the Hood" http://www.youtube.com/watch?v=Lx9zgZCMqXEyou can find more explanatory vids and much more on documentary thread: https://bitcointalk.org/index.php?topic=268955.0edit: heh, just read title and not the actual question... What can bitcoin do? How do you make it become a money making machine?
lol... ehm yea perhaps make a startup 1. IPO 2. ?? 3. Profit  anyway, perhaps the vids can give you an answer... |
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StallionOne
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Activity: 16
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September 18, 2014, 12:06:55 PM |
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How does Gold make you am oney making machine?
Gold is a very marketable product. It is before and it is today. Aside from that, Gold is well adopted by each and every people in the world. Yeah, but majority in this forum choose Bitcoin over Gold. |
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vipgelsi
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Activity: 1736
Merit: 1001
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September 18, 2014, 12:15:16 PM |
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I love bitcoins but if i can once again buy an ounce of gold with 1 bitcoin i will have to trade a few.  |
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busterroni
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September 19, 2014, 03:54:27 AM |
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This is now my favorite post ever on bitcointalk |
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Farmer17
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September 20, 2014, 03:26:16 PM |
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is like a money transfer am i right?
Quite different IMO. For bitcoin transaction, there is no clearing house, no chargeback, and no way some persons/organizations/governments can stop the transaction. |
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BeeTeeSea
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Activity: 70
Merit: 10
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September 20, 2014, 03:50:20 PM |
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Bitcoin allows for non double spendable electronical currency, this solves everrrything.
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ErnieBall
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September 22, 2014, 01:27:35 PM |
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This is now my favorite post ever on bitcointalk Why are you saying that this is your favorite? |
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Pussyan
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September 22, 2014, 11:25:21 PM |
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I dont know if third world countries knew about this btc thing
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andycarrol
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September 23, 2014, 07:26:39 AM |
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What can bitcoin do? How do you make itbecome a money making machine?
bitcoin is money, and you can easily look it up hard difficult: D |
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Yuki1988
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September 23, 2014, 10:56:27 AM |
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I am surprised to see users are taking OP seriously when he only wants a money making machine...
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Muhammed Zakir
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September 24, 2014, 01:13:36 PM |
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I am surprised to see users are taking OP seriously when he only wants a money making machine...
Who doesnt want money out of btc? Dont be a hypocrite.. This is practical talk. Bitcoin is money
~~MZ~~ |
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Gambiteesee
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Activity: 26
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September 29, 2014, 10:39:18 AM |
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I am surprised to see users are taking OP seriously when he only wants a money making machine...
Everyone wants it to be a money making machine. |
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Testing123
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September 29, 2014, 12:17:29 PM |
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Everyone wants it to be a money making machine.
Well then, I hope they can read this thread and understand the bitcoin project is not a money making machine. |
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Rampton
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September 29, 2014, 12:24:11 PM |
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I am surprised to see users are taking OP seriously when he only wants a money making machine...
Everyone wants it to be a money making machine. Well I guess by definition of the protocol it is literally a money making machine, but people shouldnt expect it to be a get rich quick scheme which is what a lot of people are unfortunately treating it as. Most people don't seem to care about bitcoin other than it being something that can expand their material wealth. |
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