How to make money via bitcoin? Watch

GeologyMaths
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#1
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How do you actually make money from it?
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serah.exe
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Buy some, wait for the rates to go up, then sell it.

My friend and I bought a couple of Bitcoins a few years ago (when it was cheap). Saw the price of it going up, and sold some a few years after. Still got a couple left.
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A$aprocky
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'Bitcoin mining' - search it up
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GeologyMaths
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(Original post by serah.exe)
Buy some, wait for the rates to go up, then sell it.

My friend and I bought a couple of Bitcoins a few years ago (when it was cheap). Saw the price of it going up, and sold some a few years after. Still got a couple left.
thanks i get buying and selling later but what about bitcoin mining?
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GeologyMaths
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(Original post by A$aprocky)
'Bitcoin mining' - search it up
Yeah iv heard of it but just how can you make money from mining? What do i need for it?
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A$aprocky
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(Original post by GeologyMaths)
Yeah iv heard of it but just how can you make money from mining? What do i need for it?
You need a CPU and a program called cpumining or something. In the good ol' days you can bitcoin mine with your own video card but as more people started doing it, you need a much bigger, more powerful CPU, and it actually overclocked your machine. Its getting tough to make a lot of money, still possible nonetheless.
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GeologyMaths
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(Original post by A$aprocky)
You need a CPU and a program called cpumining or something. In the good ol' days you can bitcoin mine with your own video card but as more people started doing it, you need a much bigger, more powerful CPU, and it actually overclocked your machine. Its getting tough to make a lot of money, still possible nonetheless.
Ohright thanks
How much you reckon you can make nowadays from bitcoin?
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A$aprocky
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(Original post by GeologyMaths)
Ohright thanks
How much you reckon you can make nowadays from bitcoin?
Its hard to say really, you need a large initial investment in a good CPU if you wanna make a lot of bitcoins.

Thing is, its very complicated to find out how much you can make. It really depends on your set up. The problem is the CPU needs a lot of electricity to keep going and make you bitcoins. The running costs could possibly cost more than the value of the bitcoins made. Smaller CPU/GPUs may be less to run but will take so long to make one bitcoin that there is really no point.

With more people using fast CPUs to mine for bitcoins, those with smaller machines are pushed out the market and hardly make any bitcoins. Realistically, you need a large initial investment in a good CPU/GPU, cooling systems and an efficient build with little running costs to make profit in the long term.
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Mahmoud X
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1. Buy some


2. Convince idiots it is a good idea


3. Wait for price to up up


4. Sell before the market crashes



This used to be my part time 'job' but it wasted too much time with exams

(Original post by A$aprocky)
'Bitcoin mining' - search it up
It's not guaranteed profit, some of the miners cost over £1000, you have the cost of electricity, the future value of what you mine is not guaranteed and if the price does go up, more people mine which reduces your personal return, this is moronic advice like Mr Bean.
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A$aprocky
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(Original post by Mahmoud X)
It's not guaranteed profit, some of the miners cost over £1000, you have the cost of electricity, the future value of what you mine is not guaranteed and if the price does go up, more people mine which reduces your personal return, this is moronic advice like Mr Bean.

I said the exact same thing before

(Original post by A$aprocky)
Its hard to say really, you need a large initial investment in a good CPU if you wanna make a lot of bitcoins.

Thing is, its very complicated to find out how much you can make. It really depends on your set up. The problem is the CPU needs a lot of electricity to keep going and make you bitcoins. The running costs could possibly cost more than the value of the bitcoins made. Smaller CPU/GPUs may be less to run but will take so long to make one bitcoin that there is really no point.

With more people using fast CPUs to mine for bitcoins, those with smaller machines are pushed out the market and hardly make any bitcoins. Realistically, you need a large initial investment in a good CPU/GPU, cooling systems and an efficient build with little running costs to make profit in the long term.
Do read properly, idiot.
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Mahmoud X
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(Original post by A$aprocky)
You need a CPU and a program called cpumining or something. In the good ol' days you can bitcoin mine with your own video card but as more people started doing it, you need a much bigger, more powerful CPU, and it actually overclocked your machine. Its getting tough to make a lot of money, still possible nonetheless.
Nobody mines using their CPU anymore...


(nobody with a brain)
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A$aprocky
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(Original post by serah.exe)
Buy some, wait for the rates to go up, then sell it.

My friend and I bought a couple of Bitcoins a few years ago (when it was cheap). Saw the price of it going up, and sold some a few years after. Still got a couple left.
Its difficult to trade with Bitcoins, its the least traded currencies in the world. For a liquid asset, its very impractical nowadays.
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Mahmoud X
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(Original post by A$aprocky)
I said the exact same thing before



Do read properly, idiot.
except you're wrong anyway because CPU mining refers to using your desktop/laptop's CPU to mine which nobody does...


r u sure u r qualified 2 b taking part in this discussion m8?
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A$aprocky
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(Original post by Mahmoud X)
Nobody mines using their CPU anymore...


(nobody with a brain)
CPU is worse than GPU but you can still profit from it. Search it up mr bean.

You've embarrassed yourself enough, move along.
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Mahmoud X
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(Original post by A$aprocky)
CPU is worse than GPU but you can still profit from it. Search it up mr bean.

You've embarrassed yourself enough, move along.
Well obviously you could if you struck a block (about 0.0000000001% chance) and the price shot up to £1,000,000 per BTC over night, but that's like saying buying lottery tickets is a good investment



Not my fault your sloot of a mother drank whilst she was pregnant with you and you suffer from a low IQ
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A$aprocky
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(Original post by Mahmoud X)
except you're wrong anyway because CPU mining refers to using your desktop/laptop's CPU to mine which nobody does...


r u sure u r qualified 2 b taking part in this discussion m8?
CPU can still be profitable if you mine correctly, of course you need a brain for that. I can see why you cant understand that. And i did mention GPU too, dont pick out the smallest of details and ignore the rest of my statement.

I doubt OP is gonna invest in a £1000 machine for mining, its TSR not Hackforums. Im talking practicality,

You've failed to try and provoke an argument, you make a stupid comment then im ignoring you.
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Mahmoud X
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(Original post by A$aprocky)
CPU can still be profitable if you mine correctly, of course you need a brain for that. I can see why you cant understand that. And i did mention GPU too, dont pick out the smallest of details and ignore the rest of my statement.

I doubt OP is gonna invest in a £1000 machine for mining, its TSR not Hackforums. Im talking practicality,

You've failed to try and provoke an argument, you make a stupid comment then im ignoring you.
When you mine Bitcoin you are using hashing power to secure the network and in return there is a chance that you 'discover' a block which gives you Bitcoin, your likelihood of mining a block is directly proportional to the hashing power you provided, the hashing power obtainable from a laptop means you could literally be waiting years to even get a bitcoin...
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A$aprocky
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(Original post by Mahmoud X)
Well obviously you could if you struck a block (about 0.0000000001% chance) and the price shot up to £1,000,000 per BTC over night, but that's like saying buying lottery tickets is a good investment



Not my fault your sloot of a mother drank whilst she was pregnant with you and you suffer from a low IQ
Nope you're wrong. And im talking practicality.

You're not mature are you, just another village idiot with mummy issues.

You suggested trading bitcoins, which is impractical as its difficult to trade with Bitcoins, its the least traded currency in the world. For a liquid asset, its very impractical nowadays.

I doubt you're smart enough to understand that. Oh well.
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Mahmoud X
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(Original post by A$aprocky)
Nope you're wrong. And im talking practicality.

You're not mature are you, just another village idiot with mummy issues.

You suggested trading bitcoins, which is impractical as its difficult to trade with Bitcoins, its the least traded currency in the world. For a liquid asset, its very impractical nowadays.

I doubt you're smart enough to understand that. Oh well.
https://en.bitcoin.it/wiki/Non-speci...are_comparison


Nobody does CPU mining :rofl:
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A$aprocky
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You completely ignored what i said shows how much of a moron you are. Can you even read? Dont quote me again, i cba for your stupidity.
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