I did some reading today about bitcoins after I saw a news report that mentioned them. I was surprised to learn that you can buy computer hardware dedicated to mining for bitcoins. This hardware isn't cheap either. I saw prices as high as 9k for one of these bitcoin add-ons. You can hook them up via a USB port or plug them into 2 PCIE slots. You can also get network racks and plug 3 of these into one board and bridge 30 of them together. Apparently there are businesses out there that do nothing but maintain racks of these dedicated bitcoin mining cards. They take power consumption and time into account to determine if they are making a profit. I had no idea how complicated the bitcoin world was. Is anyone here involved in any of this? I'd really like to chat with someone who knows the ins and outs of the bitcoin world.

Go get a better hobby

Yeah the gold rush for bit coin mining has passed... you won't make your money back with the effort required to mine one nowadays. Basically with each new coin mined, the algorithm makes it more difficult to mine the next. A few years ago, people used to mine them with their normal computer, but once they started catching on as a currency, people started really building these dedicated mining racks. Now I'm not sure you'll recoup your electricity costs.

You can still rack up dogecoins by mining, but no clue if they'll ever be worth anything!

BTW there are other alternatives, litecoin and othercoin and such, and you can also speculate. It was ~$600/coin a week or so ago. Been bouncing off $1000 today. If you like something with a high risk/reward, this should do it.

Imma let you finish, but If you act fast, you can get in on the ground floor of the greatest online currency ever, the Coinye coins.

Yikes

A couple years ago, on another forum I used to frequent, in a galaxy far far away, there was a member who did IT/Security for a company (large corporation? I think in Indy) and he came across an employee that was mining these bitcoins from his office/cubicle on the company server. At the time I guess it was big news, or was soon to make news due to the size/scope of this person's mining. I believe that even the FBI was going to get involved (though I might be dreaming that part up...it's been a while). I took a hiatus from that site and never really heard what became of it, but the forum member, at the time he discovered what was going on, was cautious about what details he would share with us.

And the conversation continues, although the Search function may not:

http://www.cigarbid.com/Forum/c/posts/635838/Bitcoin-ever-use-it- 

Send me $100,I will issue you @50 Wallybucks which you can use to buy cigars out of my very limited (as in quantity) humidor.

Although the issue price is half of a USD, the retail value is only .25 so make sure you make your purchase wisely.

Happy Shopping!

You kids these days don't know the value of a dollar, and I tell you that dollar ain't worth near as much as it used to be !!

🌫

The virtual money world is problematic as it has been documented pump and dump schemes they bump up the bitcoin from 0.0004 to 0.0014 sell take profit and its 0.0003 all in the span of 10min and only a few profited from the jump in price and cashed out most lost money. It's not regulated its a gamble stay away from vert moneys if you ask me. Watch The Wolf of Wall Street it's the penny stock scam sell pump up the value and dump you stock and your the only one who made money.

Bitcoin firm CEO found dead in suspected suicide

http://www.foxnews.com/tech/2014/03/05/bitcoin-firm-ceo-found-dead-in-suspected-suicide/ 

Well Monopoly Money is worthless,,,

Cryptolocker accepts bitcoins too