Post Reply 
 
Thread Rating:
  • 0 Vote(s) - 0 Average
  • 1
  • 2
  • 3
  • 4
  • 5
Bit Coin
Author Message
T Dog Offline
Welcome Aboard Cadet
*

About Me
Posts: 24
Joined: Dec 2017
Reputation: 0
Post: #1
Bit Coin
With Bit Coin going up and down massive amounts daily is anyone investing? People are making some serious cash just investing small amounts. Let me know if you've had any success with bitcoin.
12-09-2017 01:20 AM
Find all posts by this user Quote this message in a reply
Vile Offline
The Baron
***

About Me
Posts: 658
Joined: Jan 2010
Reputation: 1
Post: #2
RE: Bit Coin
I haven't really looked into it. I fear it is the money of the future being a universally accepted currency, and over time I am going to become a super poor person for not investing in it soon. However, Steam did recently reject bitcoin as a currency due to its fluctuation so that is something to consider.
12-10-2017 08:46 PM
Find all posts by this user Quote this message in a reply
VirusZero Offline
Administrator
*******

About Me
Posts: 4,302
Joined: Jan 2010
Reputation: 0
Post: #3
RE: Bit Coin
I've looked into bitcoin a bit thanks to a friend who does bitcoin mining. Down the road, when I build my gaming class PC I'm likely going to get into it more though.

But to me the cost to start is pretty high. Bitcoin mining relies exclusively on GPU power (since GPUs are far better at the type of computation needed). One of the best GPUs to use for bitcoin is a Nvidia GTX 1070... But those are ~550-600 (CDN) per GPU. For an optimal set up you should have at least 2 of them. And from that you get roughly $10 CDN per day. That means it takes roughly 6 months before you pay off the graphics cards and start actually making money. (This factors in the increased cost of running the computer 24/7 also.)
But you have to be careful because the market can crash on you and you can lose huge amounts of money. (A hacker recently managed to steal anything that wasn't secured.) So many use a vault like Coinbase to lock their money in. (These vaults download the transactions into and are secured offline so any money in there is yours regardless of what happens in the online aspect.)

From a tech standpoint you don't need a super powerful CPU (a dual core i5 is overkill here) or huge amounts of ram (4GB is enough) or even a very big hard drive (128gb is large enough, doesn't have to be SSD either), but you do need a motherboard that can support multiple GPUs and a power supply that can handle powering them (at least a 750watt platinum).
12-10-2017 09:28 PM
Visit this user's website Find all posts by this user Quote this message in a reply
T Dog Offline
Welcome Aboard Cadet
*

About Me
Posts: 24
Joined: Dec 2017
Reputation: 0
Post: #4
RE: Bit Coin
I've invested into some Ethereum. There's other crypto currencies if you're interested.

On mining, it was a good option early on but there's a lot less coins to mine now. So yeah you'd have to go all out like you said now.
12-11-2017 07:24 PM
Find all posts by this user Quote this message in a reply
VirusZero Offline
Administrator
*******

About Me
Posts: 4,302
Joined: Jan 2010
Reputation: 0
Post: #5
RE: Bit Coin
I've heard that Etherium is pretty good. A pretty good payout per algorithm solved.

If I get into it I'm probably going to buy a vault to store most of my money on. Especially with the recent crash that cost something like 60 million dollars.
12-11-2017 08:36 PM
Visit this user's website Find all posts by this user Quote this message in a reply
Post Reply 




User(s) browsing this thread: 1 Guest(s)


Protected by Copyscape Plagiarism Scanner
Spam Poison