Bitcoin

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Topic review
   

Expand view Topic review: Bitcoin

by Megageth » Mon Jul 01, 2013 5:06 pm

Any links on what the mining operation actually entails?
My pc sits at home unused for the most part and I have uncapped so I could setup remote admin if it makes sense.

Edit* Reading Jarrod's Link now post any others pls.

by TygerBS » Mon Jul 01, 2013 2:04 pm

It all depends what you want to make out of it.

There are mining farms at hat we can join with, or start our own.

If we planning on generating huge amounts of cash then yes dedicated hardware and time is needed.

But a small operation can generate a few hundred dollars a month, using our standard pc hardware.

by J_Th4ng » Mon Jul 01, 2013 1:39 pm

I may be misinformed, but my understanding was that successful bitcoin mining required dedicated hardware farms rather than simple GPU based processing. Also, it works very well on AMD hardware, but not nVidia. Let me see if I can find the article I was reading on the subject...

Ah, here we go:http://www.tomshardware.com/reviews/bitcoin-mining-make-money,3514.html

As you can see, the article is pretty recent (9th June). it seems to indicate to me that GPU based mining is a bit worthless? Especially considering the escalating cost of electricity in SA.

Anyway, if other people know better, I'd be happy to give it a go.

by Paul » Mon Jul 01, 2013 1:33 pm

I have heard of bitcoin but not 100% how it works. I know it is a virtual currency. How do we mine? I would be interested

Bitcoin

by TygerBS » Mon Jul 01, 2013 1:07 pm

Hi Guys

I was thinking that grrr should get in to bitcoin mining.

We have a number of members and if utilize our collective hardware.

It quite technical thing, but works much like other p2p sharing apps.

A group of 4 people mining only partial can generate about $80 a month.
So we could theoretically make a lot more.

This money we could then use to pay all our grrr fees and more down the line.

Let see what interest we have.

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