Bitcoin Akbar

[craigs]

Hello Guys,


I'm a Bitcoin fanatic and evangelist.


I'm here to convert you all to the Bitcoin Religion.

http://en.wikipedia.org/wiki/Bitcoin

craigs Reviewed by craigs on 25th Sep 2011. Bitcoin Akbar Hello Guys, I'm a Bitcoin fanatic and evangelist. I'm here to convert you all to the Bitcoin Religion. http://en.wikipedia.org/wiki/Bitcoin Rating: 5

[CuraHack]

Hi, can you explain to me how bitcoins are "made" and how it can be "transfered" ?

I like the idea too, but I don't really understand how it works, and I don't know how it can be used on a commercial scale...

[craigs]

Bitcoin can be generated with your computer.


A Desktop with 3 Radeon Hd5750 can generate roughly 7$/day


You can transfer them using the client or web account


For more info check this:

http://www.weusecoins.com/


for an example of how they can be used check here:

http://gawker.com/5805928/the-underg...****imaginable

[tinhead]

Yeah thats the problem, you have to have a good spec computer to generate them really, I have a Amd Athlon 54 +2 processor 4200+ and a Geforce 7300le and I probably wont ever generate anything

[craigs]

Yes, forget to generate anything with a CPU. Nvidia cards arent good at this either.


Anyhow you can buy Bitcoin, or sell things for Bitcoin.


At the moment a Bitcoin is worth around 5$ and in the last 24 hour roughly 300.000$ worth of Bitcoin was traded.

Bitcoin is very good to transfer value. Sending Bitcoin is totally free, and if you have a Bank account, converting to and from Bitcoin cost less than 0.5% (depending on volume).

They are going to revolutionize the web, by making microtransactions feasible. You finally can pay maybe 0.5$ for the membership in a site.

[vps9Ryan]

Bitcoin can be generated with your computer.


A Desktop with 3 Radeon Hd5750 can generate roughly 70$/hour.

How do you just "generate" them?

it just doesnt seem to make sense to me at all ...

if i leave it running, it makes its own cash wtF?

let us know

Cheers,
Ryan

[craigs]

You can generate Bitcoin by solving cryptographically secure mathematical problems.

https://en.bitcoin.it/wiki/How_bitco...Bitcoin_mining


In layman words, think it as agriculture:

1) You have a big initial cost, by purchasing the land and the seeds (the computer)

2) You have small recurrent cost, due to the irrigation of the plants (power bill)

3) You obtain a valuable fruit (Bitcoin)

[cvrle77]

Bitcoin can be generated with your computer.


A Desktop with 3 Radeon Hd5750 can generate roughly 70$/hour.


You can transfer them using the client or web account


For more info check this:

http://www.weusecoins.com/


for an example of how they can be used check here:

http://gawker.com/5805928/the-underg...****imaginable

I would really love to hear, how can desktop with 3SLI generate 70$ per hour,lol If that's the case, they wouldn't harvest other ppl's PCs... Cost of power spent on solving problems, is bigger than income

[craigs]

I would really love to hear, how can desktop with 3SLI generate 70$ per hour,lol If that's the case, they wouldn't harvest other ppl's PCs... Cost of power spent on solving problems, is bigger than income

It seem I grossly overrated my initial esitmation. My mathematical bad


You can make esitmation by yourself here:

https://en.bitcoin.it/wiki/Mining_hardware_comparison

http://www.alloscomp.com/bitcoin/calculator.php

[CuraHack]

So technically the money is created out of thin air, so it doesn't have any value. See I wouldn't except bitcoins if I knew they ware created out of thin air. Then again, I could start a profitable business generating bitcoins on some high end servers?

Sound a bit like what the Fed does...