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Thread: Bitcoin Mining

  1. #1
    Basileos Leandros I's Avatar Writing is an art
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    Default Bitcoin Mining

    Anyone here in the bitcoin mining business?

    Wanted to ask whether anyone can share any opinions/experience about bitcoin mining.
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  2. #2
    Sir Adrian's Avatar the Imperishable
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    Default Re: Bitcoin Mining

    I have never understood what is the purpose of bitcoin. Can you buy anything with it? (especially in Romania)
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  3. #3

    Default Re: Bitcoin Mining

    Apparently, escaping governmental oversight, stability achieved through self regulation, compensated by rewarding Bitcoins.

    Currently, I suspect it's mostly speculation, with Chinese server farms dominating the "market". I suspect it's a way for the Chinese to circumvent currency controls, beyond stuffing up mini gold bars in your colon, and taping bundles of cash on mules.
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  4. #4

    Default Re: Bitcoin Mining

    Quote Originally Posted by Settra View Post
    Can you buy anything with it?
    In 2015 I bought an Internet domain from Namecheap.com, since I didn't have a bank account at hand at that point.

  5. #5
    Basileos Leandros I's Avatar Writing is an art
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    Default Re: Bitcoin Mining

    Bitcoin is a digital currency - a cryptocurrency if you like - which is a tightly regulated money supply from a digital blockchain. You "mine" bitcoins and then you use them to do all sorts of purchases - and most of it for legal purposes worldwide, not the illegal stuff.

    It's a currency for the future, and there's all sorts of bitcoins out there - but the original bitcoin is the most known.
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  6. #6
    Ἀπολλόδοτος Α΄ ὁ Σωτήρ's Avatar Yeah science!
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    Default Re: Bitcoin Mining

    Quote Originally Posted by Settra View Post
    Can you buy anything with it? (especially in Romania)
    Great for anonymously hiring fixers and hitmen, trading in illegal weapons and ammunition, chemical substances and other services that are prohibited by law. Should be available in any country, including Romania.

    It can also be exchanged for US dollars.
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  7. #7
    Basileos Leandros I's Avatar Writing is an art
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    Default Re: Bitcoin Mining

    Available everywhere with an internet connection.

    And you can buy things anywhere.
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  8. #8

    Default Re: Bitcoin Mining

    I'm going to bet that it's not going to be welcome in India.
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  9. #9
    ♔atthias♔'s Avatar dutch speaking
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    Default Re: Bitcoin Mining

    Quote Originally Posted by Condottiere 40K View Post
    I'm going to bet that it's not going to be welcome in India.
    why?
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  10. #10

    Default Re: Bitcoin Mining

    Because the government has gone on a jihad to eliminate black money, wants to encourage electronic payment, but wants an oversight, so that they can keep track of it and tax it.
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  11. #11
    ♔atthias♔'s Avatar dutch speaking
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    Default Re: Bitcoin Mining

    Quote Originally Posted by Condottiere 40K View Post
    Because the government has gone on a jihad to eliminate black money, wants to encourage electronic payment, but wants an oversight, so that they can keep track of it and tax it.
    I see thanks for the answer
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  12. #12
    Basileos Leandros I's Avatar Writing is an art
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    Default Re: Bitcoin Mining

    Bitcoin is pretty anonymous at this particular moment, having oversight over Bitcoin will be difficult to manage by any central bank or country in the world.
    Ja mata, TosaInu. Forever remembered.

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  13. #13

    Default Re: Bitcoin Mining

    Bitcoin mining is not profitable anymore... Beter to mine other crypto...

  14. #14
    Niles Crane's Avatar Dux Limitis
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    Default Re: Bitcoin Mining

    Nah, but I do have a couple billion in Bitcoins. One day I'll sell, maybe. Who knows?

  15. #15
    Ferdiad's Avatar Patricius
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    Default Re: Bitcoin Mining

    Little did we know the founder of bitcoin was here on TWC all along.

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