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Do you know anything about bitcoins?

Brandon

Brandon

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Have you seen bitcoins, they've been around since 2009 but have recently been trending on the media outlets.
Here is the wiki.

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

There are many sites that show the current value, but here is one if you don't know how to use google.

https://mtgox.com/

it's currently valued at $88 a coin and it's going up every day.

Who is buying these, I'd like to have at least 1 coin but it's quickly going over my comfort zone.
 
Lynne said:
My son bought a bunch about a year ago and then recently sold and made a nice profit. Now he's day trading them and has made money every day on them for the last week.
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Really, good for him!
Does he work for someone trading them, of working for himself?
The price has been going up like crazy lately, I was talking to a friend of mine a few weeks ago and we're going to buy a few, they were around 30$ at that point.
 
KevinL said:
I bought some at around $16. Sold them when they were around $25 or so. Wasn't much profit but it was nice.
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How did you buy them?
I see I can physically meet up with someone and buy them, but it seems like a lot of hoops to jump through to buy them online.

I also know there are sites like the SilkRoad which you can buy drugs with, I'm not interested in that, I'm more interested in making a few bucks and being able to say I had some bitcoins..lol
 
Brandon said:
How did you buy them?
I see I can physically meet up with someone and buy them, but it seems like a lot of hoops to jump through to buy them online.

I also know there are sites like the SilkRoad which you can buy drugs with, I'm not interested in that, I'm more interested in making a few bucks and being able to say I had some bitcoins..lol
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I opened an account here https://blockchain.info
Sent money to my wallet there through bitinstant - https://blockchain.info/wallet/deposit-cash
Then traded on mt.gox

All pretty painless. :)
 
The only thing I know about them is that they're the main currency in the "darknet" (.onion pages that can only be seen through the Tor browser)... for all kinds of creepy stuff.
 
Sadly, the chance of making any real money doing this is no longer there unless you have some serious computer power or according to the little evidence that is out there own an ASIC miner. It is simply far to competitive now. https://products.butterflylabs.com/homepage/25-gh-s-bitcoin-miner.html I honestly thought about pooling some money with others and picking 2 or 3 of these up just to give it ago.. But, I am still skeptical. I have some buddies who are going to get a couple and give it a go.. But good luck to those getting in late.. BTC value is crazy high right now
 

I setup a miner on my home pc @Cerberus
not the fastest but it's just sitting there all night, and it'll cost me about 36 cents a day in electricity.. might as well try.. BTC's are up over 200$ today, actually at 224 as of this post ;)
 
I've been mining here a few days, actually I stopped when all the ddos'ing was going on. Anyways I checked out the site I've been pooling with and I have about .0001 of a bitcoin..lol

I'll keep at it, hopefully I'll find one within a month or two.
 
If anyone is into mining these and wants to help out the sites, I can give you a username and pool URL, every little bit helps.
I've setup the cgminer via the command line and I'm getting much pretty results. I'm not able to use my PC while it's running but I do see my numbers going up slowly.
 
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