Yes, I do mine them, from my laptop :-) Mining bit coins is not a 'get rich quail-like' scheme, the returns are barely anything. Even if you invest in machines with very good GPU/CPU, it could take you ages to get any meaningful return. Those who started mining earlier got better returns since the mining difficulty increases every year & thus it is more difficult getting anything out of mining as the years go by. Most people mine with the sole aim of 'contributing' your processor power & you get a thank you :-) My mining account has less than 0.00001 BTC after mining for 3-4 months. I only mine when my laptop is idle especially during the night. ./Ok3ch Sent from my iPad
On Jan 30, 2014, at 18:07, Watson Kambo <wkwats@gmail.com> wrote:
Okech, u actually mine them? whats the cost of the gear? running cost visa a vis the returns ?
//Watson
On 30 January 2014 16:31, John Maina <mwasjunior@gmail.com> wrote: So what use case do crypto currencies address that's not addressed by other payment methods?
On Thursday, January 30, 2014, Okechukwu <okechukwu@gmail.com> wrote: https://www.udemy.com also has very nice lessons and video tutorials on bit coins, with Androis/iOS apps
./Ok3ch
On Thu, Jan 30, 2014 at 11:37 AM, Okechukwu <okechukwu@gmail.com> wrote: Its simply using resources on one's computer (GPU or CPU) to help a central server sort complex mathematical algorithm (mine) and then the server gets rewarded and shares the rewards amongst the contributing computers - Very simply put
More complex and very well explained - https://bitcoin.org/en/
./Ok3ch
On Thu, Jan 30, 2014 at 11:14 AM, Emmanuel <emmanuel.macharia@gmail.com> wrote: Okech
How does bit coins mining actually work ?
Regards,
Emmanuel Macharia Cell:+254.722.858.418 - Personal Cell.+254-738-858-418 -Direct ************************************************************************************* One thing i always do is Forget the past and Match forward towards Success
On Thu, Jan 30, 2014 at 12:52 PM, Okechukwu <okechukwu@gmail.com> wrote: Just wondering, what happens to your digital currencies when something really bad happens to you? Am specifically thinking of bit coins & other cryptos which require private keys known only to you.
./Ok3ch
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