This guy in r/news thinks Bitcoin is a scam and gets upvoted. We are still very early in the game Gentlemen.
Submitted August 07, 2017 at 03:19AM by h0us
via reddit http://bit.ly/2hzDSP0
Brand new bitcoin miner making 3$/day have some questions
I recently built a gaming PC and decided to try out bitcoin mining. I remember back in high school ~5 years ago I tried to mine bitcoins but got frustrated and stopped, which I regret wholeheartedly.
My question is: Is it still possible for an independent miner to invest in equipment and make a profit? I have around 3k I'd be willing to spend on ASCI mining equipment if I felt comfortable in the equipment being efficient and competitive for the next few years.
I know that there are warehouses full of specialized computers all fighting for the daily number of bitcoins that can be mined.
My basic math… I bought a Gigabyte 1080 Ti EVGA for $750, at 3$/day that is $1095 -$750 = $345 – (whatever electric costs are) = profit.
Would looking into this further be a wise decision?
Submitted August 07, 2017 at 04:20AM by Urglord
via reddit http://bit.ly/2uwM9EO
‘Converted’ a road side ‘shop’ in penang – so easy now.
I was in Penang recently. I stopped by a small lean-to shop to get some cigarettes. They had an Indonesian brand I like, but hard to find outside of Indonesia and I wanted a whole carton. I didn't have enough fiat on me and no ATM in sight, so I asked to owner if he takes bitcoin.
He said "bitcoin !!! Oh, I like very much, but no have can do". I helped him download bread wallet and sent him the BTC. The look on his face was priceless. He seemed shocked at how easy it was. Didn't have to apply for anything or ask permission from anyone and presto – has BTC.
He started to rave on about how he's interested in BTC 'long time now', but thought it would be more complicated than that. We then got into a discussion about how it is only tricky when exchanging to fiat and back and he'd have to find out how to do that in his location.
He doesn't want to trade back to fiat. This is his savings now. He probably wouldn't qualify for a bank account anyway. I told him to put up a sign for accepting bitcoin and that is how he can get more. People will start to find out and he may even meet people willing to trade to fiat with him peer to peer. He's in a very high passerby location.
I ended up sending him some more and buying a second carton. Needless to say, good business for him on his first day accepting bitcoin. I was going in for one pack, walked out with 2 cartons.
Now I just have to get some more fiat back into my bitcoin wallet.
I think step by step if we all start spending and replacing the spent amount with fiat, teaching people to get a wallet and accept transactions, we'll see more and more adoption.
We've been duped into seeing BTC as a commodity to increase our fiat net worth.
The barrier to entry for many people seems to be in buying BTC, it seems to difficult with all the legacy financial system KYC and AML bullshit.
Just get them to start accepting – everyone knows it just goes up by now. THAT is easy and can be done in a few moments. Download a wallet.
Spend and replace. Spend and replace.
Submitted August 06, 2017 at 01:17PM by flowbrother
via reddit http://bit.ly/2vtW0zC
“check out this website for free coin, no payment”-help post
Respective Experts, I am a new in this platfrom and i have a little knowledge about bitcoin. Recently, I have got i link through facebook that said, "chek out this website for free coins, no payment." However, can you be so kind to explain me about this strange topic ? Advance thanks and gratitude for your valuable comment.
Submitted August 07, 2017 at 04:26AM by tarek07
via reddit http://bit.ly/2wkzJBU