FabSwingers.com forum: Bitcoin mining

By (user no longer on site) OP
over a year ago

Anyone dabbled? Seems cost ineffective if you buy stand alone mines.. Seen some YouTube vids of self builds using graphics cards.... Anyone tried

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By (user no longer on site)
over a year ago

I just think the whole bitcoin thing is aimed at susceptible people who are oblivious to the own gullibility ....

I'm sure not everyone will agree ,,,,, but I guess that's part of the plan....

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By (user no longer on site)
over a year ago

You should google for sites that specialise in this stuff and cryptocurrency.

I don't know anything about it but know people who make money mining from a tech site i used to use, they do use bots though.

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By *olgateMan
over a year ago

on the road to nowhere in particular

How do you mine in a virtual cyberspace?

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By (user no longer on site)
over a year ago

"How do you mine in a virtual cyberspace?"

Mine craft?

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By (user no longer on site)
over a year ago

No worth mining anymore really - that bubble burst YEARS ago.

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By (user no longer on site) OP
over a year ago

Yeh, I'm gathering a lot of the hardware that is sold does appear to be aimed at gullible people because it seems cost ineffective... The currency itself is really strong. £287 a Bitcoin at the min but I'm not interested exchange trading. All the sites I seem to find seem commercialised, big push on cloud mining...

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By (user no longer on site)
over a year ago

Fook. I don't understand it.

I thought we had learned a lesson from the financial crash. If it doesn't make sense (and uses crap terminology to hide that), it doesn't make sense.

It doesn't make sense.

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By (user no longer on site) OP
over a year ago

I suppose I was subconsciously hoping a tech wizard might come to my aid.... Ha but I suppose if someone knew the best way, last thing they would do is branch out to someone else... Damn selfishness... Haha

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By (user no longer on site)
over a year ago

"I suppose I was subconsciously hoping a tech wizard might come to my aid.... Ha but I suppose if someone knew the best way, last thing they would do is branch out to someone else... Damn selfishness... Haha"

You don't need a tech wizard. Just like the banks did not need trading gurus. Common sense will serve you better.

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By (user no longer on site) OP
over a year ago

Haha yeh I suppose you. Have a point, I work in the investment world so it's not really the principle of the currency I'm stuck with, it's the tech (which program is best.... What program / OS, graphics card or CPU servers...) I'd happily invest a couple of grand in a setup for my spare room if it was paying for itself while I studied it. But for the websites that come up on google it's stand alone units or USB banks seem they will operate at losses..

Ah well, my dreams of world domination will have to wait a while.. Ha

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By (user no longer on site)
over a year ago

If you have to ask, it's not for you!

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By (user no longer on site) OP
over a year ago

That sounds like "I dare you" ha. Ok I'm going to dig a little deeper.

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By (user no longer on site)
over a year ago

"Haha yeh I suppose you. Have a point, I work in the investment world so it's not really the principle of the currency I'm stuck with, it's the tech (which program is best.... What program / OS, graphics card or CPU servers...) I'd happily invest a couple of grand in a setup for my spare room if it was paying for itself while I studied it. But for the websites that come up on google it's stand alone units or USB banks seem they will operate at losses..

Ah well, my dreams of world domination will have to wait a while.. Ha"

It sounds like you are clinging on to that idea. You could, of course, study it before investing money in the idea.

If that is not possible, then you already know the answer.

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By (user no longer on site)
over a year ago

"That sounds like "I dare you" ha. Ok I'm going to dig a little deeper."

Dig away

remember though that bitcoin is often used for less than legal transactions, and you will be getting paid to assist in the process. which in the unlikely event you get identified could put your real work at risk.

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By (user no longer on site)
over a year ago

To make some real money you need a substantial set up. Some places are literally rooms and rooms of mining set ups with serious cooling systems. Sometimes the costs involved outweigh yield. And also the algorithm gets harder and takes longer on the block chain when in demand.

A £10 investment in the currency when it started would now yield millions. As a concept it's not to be sniffed at.

Whilst it's true it's used for nefarious activity it's not as prevalent as dirty money.

I was looking at the prices today for work as we use them.

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By (user no longer on site) OP
over a year ago

Regular money is used for a variety of unsavoury business, however there is nothing illegal about mining or owning the currency. Like all money it's what you do with it that can get you in trouble. Bitcoin is the most prominent crypto currency on the market. The big players are quietly paying attention. I'll have to brush up my I.T skills, haven't done builds for about 10 yrs. I do agree though that mining only seems profitable when scaled up.

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By (user no longer on site)
over a year ago

"Regular money is used for a variety of unsavoury business, however there is nothing illegal about mining or owning the currency. Like all money it's what you do with it that can get you in trouble. Bitcoin is the most prominent crypto currency on the market. The big players are quietly paying attention. I'll have to brush up my I.T skills, haven't done builds for about 10 yrs. I do agree though that mining only seems profitable when scaled up."

Didn't Thatcher fuck mining because it was not profitable?

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By (user no longer on site) OP
over a year ago

Bloody tories... Ha

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By (user no longer on site)
over a year ago

"Bloody tories... Ha

Presumably, you are not looking at it as a means of achieving social justice?

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By (user no longer on site) OP
over a year ago

God no... I want a Bentley.... Ha

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By (user no longer on site)
over a year ago

No currency really makes sense, they are all based upon faith as they are no longer linked to physical assets like gold. That's basically why the West pins up a big distraction when the financial markets are about to crash like terrorism. When the rich mess up the economy and piss poor people off all the masses need is an easy scapegoat and they'll soon forget it was their own governments who screwed them. All wars these days are over controlling currency.

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By (user no longer on site) OP
over a year ago

Take a note out you pocket... It's says in plain writing it's just a promise. An idea. None of it really exists. But you're right, it's a control mechanism...

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By (user no longer on site)
over a year ago

"Take a note out you pocket... It's says in plain writing it's just a promise. An idea. None of it really exists. But you're right, it's a control mechanism... "

Or just possibly a trading mechanism? It alleviates the problem of having to carry chickens and pigs around in your pockets.

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By (user no longer on site)
over a year ago

There's dozens of crypto currencies at the min.

Even the big high St banks have started getting in on it.

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By *ssexcokMan
over a year ago

southend

You will never make any money but ok for hobby

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By (user no longer on site) OP
over a year ago

Yeh the ship has sailed I think... I remember reading a story about a guy who bought some early doors and forgot about it until a few years later and realised he was worth a couple of mil... Just as he realised he'd thrown his PC out that held his wallet so started searching the refuse depot for his hard drive... Hope he found it like

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By (user no longer on site)
over a year ago

"Yeh the ship has sailed I think... I remember reading a story about a guy who bought some early doors and forgot about it until a few years later and realised he was worth a couple of mil... Just as he realised he'd thrown his PC out that held his wallet so started searching the refuse depot for his hard drive... Hope he found it like"

I bought some "early doors," but they arrived a little too early, and Dr Who had already taken them. It was a bitch trying to retrieve them from the Planet Zorb. They still didn't bloody fit.

That was when I understood that trading in things that cannot be explained was bound to lead to problems.

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By (user no longer on site) OP
over a year ago

I bought some "early doors," but they arrived a little too early, and Dr Who had already taken them. It was a bitch trying to retrieve them from the Planet Zorb. They still didn't bloody fit.

That was when I understood that trading in things that cannot be explained was bound to lead to problems."

Why?

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By (user no longer on site)
over a year ago

I bought some "early doors," but they arrived a little too early, and Dr Who had already taken them. It was a bitch trying to retrieve them from the Planet Zorb. They still didn't bloody fit.

That was when I understood that trading in things that cannot be explained was bound to lead to problems.

Why?

I am looking for advice from an investment banker.

OK, I might be better off looking for advice from someone with common sense.

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By (user no longer on site) OP
over a year ago

Haha ok. Maybe it was the DR who bit that threw me.

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By *heekyguy2Man
over a year ago

Local

Funny looking at these comments and prices vs it's value today!

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By *evaquitCouple
over a year ago

Catthorpe

"Funny looking at these comments and prices vs it's value today!"

Are you saying bitcoin is a good thing?

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By (user no longer on site)
over a year ago

"Funny looking at these comments and prices vs it's value today!

Are you saying bitcoin is a good thing? "

No they are a fucking stupid way to lose your money ......

You do realise that the gateway that allows transaction has no way of knowing the people involved even have any bit coins ....

Its actually possible to spend or sell the same bit coins multiple times even if you have none....

So there you go

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By *evaquitCouple
over a year ago

Catthorpe

Okay soxy. Just interested in what it is, the whole process, hows and whys. It obviously has its dangers, best stay away.

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By (user no longer on site)
over a year ago

"Okay soxy. Just interested in what it is, the whole process, hows and whys. It obviously has its dangers, best stay away.

Yes stay very much away .....

Bullion is better option for small investors .....

Before I met my soul-mate I used to buy gold coins and gold small gold bars

later in life It paid for a house

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By (user no longer on site)
over a year ago

It's like anything...take the stocks and shares .some are very successful and some not...I was talking to a mate about some thing on the bitcoin thing...whereby he had a mate who has made a good few million on it (some similar form of virtual currency) then you get bricks and mortar.

Yes buy in the right place and time and you can make a killing.

You can also lose a lot too...

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By (user no longer on site)
over a year ago

"It's like anything...take the stocks and shares .some are very successful and some not...I was talking to a mate about some thing on the bitcoin thing...whereby he had a mate who has made a good few million on it (some similar form of virtual currency) then you get bricks and mortar.

Yes buy in the right place and time and you can make a killing.

You can also lose a lot too..."

Missy I have to disagree

It's not like stocks and shares at all .....

It was a concept started by a chap who has evaded the divulgence of equity ....

Only a fucking idiot would be suckered in to a scheme where trading nothing yields nothing but still attracts the greed of imbecile

So you carry on and putting you round ponds in your piggy bank and leave high faineance to experts like me

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By (user no longer on site)
over a year ago

Yes buy in the right place and time and you can make a killing.

You can also lose a lot too...

Missy I have to disagree

It's not like stocks and shares at all .....

It was a concept started by a chap who has evaded the divulgence of equity ....

Only a fucking idiot would be suckered in to a scheme where trading nothing yields nothing but still attracts the greed of imbecile

So you carry on and putting you round ponds in your piggy bank and leave high faineance to experts like me

Well I'll just have to take your word on your expertise....

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By (user no longer on site)
over a year ago

Yes buy in the right place and time and you can make a killing.

You can also lose a lot too...

Missy I have to disagree

It's not like stocks and shares at all .....

It was a concept started by a chap who has evaded the divulgence of equity ....

Only a fucking idiot would be suckered in to a scheme where trading nothing yields nothing but still attracts the greed of imbecile

So you carry on and putting you round ponds in your piggy bank and leave high faineance to experts like me

Well I'll just have to take your word on your expertise...."

If you look at the construct and volume of financial trading around the world and extrapolate the percentage of bit coin transactions it doesn't even register , so it cant be any good

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By (user no longer on site)
over a year ago

Yes buy in the right place and time and you can make a killing.

You can also lose a lot too...

Missy I have to disagree

It's not like stocks and shares at all .....

It was a concept started by a chap who has evaded the divulgence of equity ....

Only a fucking idiot would be suckered in to a scheme where trading nothing yields nothing but still attracts the greed of imbecile

So you carry on and putting you round ponds in your piggy bank and leave high faineance to experts like me

Well I'll just have to take your word on your expertise....

If you look at the construct and volume of financial trading around the world and extrapolate the percentage of bit coin transactions it doesn't even register , so it cant be any good

So maybe shares in paypal?

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By (user no longer on site)
over a year ago

Yes buy in the right place and time and you can make a killing.

You can also lose a lot too...

Missy I have to disagree

It's not like stocks and shares at all .....

It was a concept started by a chap who has evaded the divulgence of equity ....

Only a fucking idiot would be suckered in to a scheme where trading nothing yields nothing but still attracts the greed of imbecile

So you carry on and putting you round ponds in your piggy bank and leave high faineance to experts like me

Well I'll just have to take your word on your expertise....

If you look at the construct and volume of financial trading around the world and extrapolate the percentage of bit coin transactions it doesn't even register , so it cant be any good

So maybe shares in paypal?"

We live in a society blighted by austerity and the temptation to get rich quick must be overwhelming for those who find struggling at the wrong end od the financial ladder ....

The trade on bit coins is not regulated and should be banned .....

I can be more blunt with my belief in that statement

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By *UNKIEMan
over a year ago

south east

I cannot be the only person that has absolutely no fecking idea what this is about

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By (user no longer on site)
over a year ago

"I cannot be the only person that has absolutely no fecking idea what this is about

Well you probably share that mystery with 99.99 % of people who blow their savings on to what is little more than a scam intended to fleece inexperienced investors

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By (user no longer on site)
over a year ago

"I cannot be the only person that has absolutely no fecking idea what this is about

Well you probably share that mystery with 99.99 % of people who blow their savings on to what is little more than a scam intended to fleece inexperienced investors

Spoke to a techie who is good and I do respect, he was bemoaning the fact that he can't buy a house as all his money is tied up in bit coin that he can't turn into real cash at anything like the perceived value.

I was kind, I gave him my coffee cup, told him it was worth £500,000 so all he needs is to find a buyer and he can have a house on me...

Mean while in real world everything is worthless unless someone else wants to buy it.

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By (user no longer on site)
over a year ago

"I cannot be the only person that has absolutely no fecking idea what this is about

Well you probably share that mystery with 99.99 % of people who blow their savings on to what is little more than a scam intended to fleece inexperienced investors

I was kind, I gave him my coffee cup, told him it was worth £500,000 so all he needs is to find a buyer and he can have a house on me...

Mean while in real world everything is worthless unless someone else wants to buy it."

Do you know what sort of property is suitable for bit coins investment

A Lego house

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By *heekyguy2Man
over a year ago

Local

"Funny looking at these comments and prices vs it's value today!

Are you saying bitcoin is a good thing? "

Well I've made over £2000 in less than 3 weeks with it.

What's your thoughts?

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By *evaquitCouple
over a year ago

Catthorpe

"Funny looking at these comments and prices vs it's value today!

Are you saying bitcoin is a good thing?

Well I've made over £2000 in less than 3 weeks with it.

What's your thoughts?"

No real thoughts but definitely interested in how you’ve done it.

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By *heekyguy2Man
over a year ago

Local

Sent you a message

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By *hunkyThighsMan
over a year ago

Gloucester

There’s a scheme with bitcoin where you can buy as little as £50 worth and make between 0.8% and 1.2% interest a day, compound. 140% return in 140 days.

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By *wisted999Man
over a year ago

North Bucks

I’m going to Gib at the end of the week where there is apparently a Bit coin ATM.

I would be interested to hear about how to invest etc.

Got some spare beer tokens at the moment.

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By *heekyguy2Man
over a year ago

Local

Happy to show you what I'm doing dude. Drop me a message

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By *heekyguy2Man
over a year ago

Local

Anyone looking at the gold backed crypto?

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By *entle giraffeMan
over a year ago

Minehead

"Anyone looking at the gold backed crypto?"

I might now you've mentioned it. What do you think of it?

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By *heekyguy2Man
over a year ago

Local

Really strong. I've bought quite a few now with some special offers I have access to

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By *entle giraffeMan
over a year ago

Minehead

"Really strong. I've bought quite a few now with some special offers I have access to"

Sounds good

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By *orwegian BlueMan
over a year ago

Iceland, but Aldi is closer..

I still fail to see how bitcoin (or any other virtual currency) will survive.

Its a definite boom and bust, a fad based upon peoples desire to be part of a something new..

There is nothing tangible to support it so at the first sign of trouble or financial weakness it will collapse faster than the wall of Jericho..

People are fickle, at the moment having bitcoin is the equivalent of having the latest Jimmy Choo's, next year fashion will change and investors will be into the next big thing, the miners will then be left with some hardware costing more to run than the return on the near worthless currency.

Its only saving grace may be organised crime who find the anonymity of the virtual currency the easiest way to trade, probably not something that most want to be associated with.

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By *heekyguy2Man
over a year ago

Local

Clearly you missed me short post that stated it's backed by gold. Meaning it's backed by a tangible asset

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