hyperpunk (OP)
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April 23, 2012, 10:49:25 AM |
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i keep seeing website links for bitcoin mining , what is it and whats the best way to get free coins or mining tool
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Each block is stacked on top of the previous one. Adding another block to the top makes all lower blocks more difficult to remove: there is more "weight" above each block. A transaction in a block 6 blocks deep (6 confirmations) will be very difficult to remove.
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Blaztoize
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My posts are seldom static, but always readable :)
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April 23, 2012, 10:54:20 AM |
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To use the flipping search button on the forums. Or read the stickies. https://bitcointalk.org/index.php?topic=9430.0You've got this. |
Pokédex: The jets of water it spouts from the rocket cannons on its shell can punch through thick steel.
BTC: 1Pt2zKYL1CzgqoWy2gETLrqZhWTQSziVno
As of July 2015, I'm back! Currently working on building trust.
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BrannigansLaw
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April 23, 2012, 10:55:28 AM |
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i keep seeing website links for bitcoin mining , what is it and whats the best way to get free coins or mining tool
Free? Its only free if you can get free electricity. |
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tarrant_01
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April 23, 2012, 11:16:58 AM |
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The mining tools are free. Some sites offer free BTC in small amounts. Look around. They're posted around here.
But as above, hardware isn't free nor is electricity. Hard to say if getting in now is worth it or not. December will be that deciding factor when the reward halves.
It's a gamble!
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1P95gCUCw3Tjb7yyoYtW3ARZZQyTpFgk6H
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Foxpup
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Vile Vixen and Miss Bitcointalk 2021-2023
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April 23, 2012, 11:40:53 AM |
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It's a gamble!
It's not really a gamble, it's more like a business: miners provide a service to the network (verifying and securing transactions) and receive payment for this service (the block reward plus transaction fees). Like any business, mining can be a decent way of making money if you know what you're doing and are able to keep your running costs down, but if you don't know what you're doing you're likely to lose money. You need to do your research and work out whether the expected returns from mining are worth the hardware and electricity costs. |
Will pretend to do unspeakable things (while actually eating a taco) for bitcoins: 1K6d1EviQKX3SVKjPYmJGyWBb1avbmCFM4I am not on the scammers' paradise known as Telegram! Do not believe anyone claiming to be me off-forum without a signed message from the above address! Accept no excuses and make no exceptions! |
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hyperpunk (OP)
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April 23, 2012, 11:45:33 AM |
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been trying to research it but so much information out there i do have a hp blade server i could run it on if thats good enough spec
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mccorvic
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April 23, 2012, 07:04:54 PM |
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You'll want to look into mining pools as the odds of solo mining and getting any BTC is astronomically small.
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DeathAndTaxes
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Gerald Davis
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April 23, 2012, 07:21:41 PM |
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been trying to research it but so much information out there i do have a hp blade server i could run it on if thats good enough spec
Probably not. GPU mining has killed CPU mining and slowly FPGA (dedicated hardware miners) is killing GPU mining although it likely will take a year or two. |
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donking
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April 23, 2012, 07:24:15 PM |
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If mining is going to only run on CPU it will not be good enough to make any meaningful result.
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mccorvic
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April 23, 2012, 07:26:17 PM |
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If mining is going to only run on CPU it will not be good enough to make any meaningful result.
Yea, to emphasize this point, last march I tried to mine with just cpu in a pool and I made about .01 BTC a day. Now, with the network being so large, I imagine that you'd be lucky to make 0.001 BTC a day with just cpu in a mining pool. |
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