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Author Topic: My new bitcoin mining toy  (Read 2102 times)

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Offline mindcrasherTheFox

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My new bitcoin mining toy
« on: April 20, 2014, 11:48:21 PM »
I just bought this for $500 I had some extra money laying around so I decided to spend it on bitcoin mining rig
https://bitmaintech.com/productDetail.htm?pid=00020140107162747992Ce5uBuxW06D6


its a "ant miner S1" it can mine up to 180GH/s to 200GH/s
I will keep you updated on how much bitcoin i get a day it may be a flop or it could rock who knows but I will post pictures later or even me doing a unboxing video on it


Bitcoin
Bitcoin is a new currency that was created in 2009 by an unknown person using the alias Satoshi Nakamoto. Transactions are made with no middle men – meaning, no banks! There are no transaction fees and no need to give your real name.
« Last Edit: April 20, 2014, 11:50:41 PM by mindcrasherTheFox »
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Offline Marcus

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Re: My new bitcoin mining toy
« Reply #1 on: April 21, 2014, 12:29:13 AM »
What exactly does bitcoin mining entail?
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Offline MrRazot

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Re: My new bitcoin mining toy
« Reply #2 on: April 21, 2014, 01:14:44 AM »
Bitcoin mining is a process of creating a virtual super computer over a network in order to crack hash codes that unlock bitcoin.

Isn't 1 bitcoin 150 USD?
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Offline mindcrasherTheFox

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Re: My new bitcoin mining toy
« Reply #3 on: April 21, 2014, 01:26:59 AM »
Quote from: MrRazot on April 21, 2014, 01:14:44 AM
Bitcoin mining is a process of creating a virtual super computer over a network in order to crack hash codes that unlock bitcoin.

Isn't 1 bitcoin 150 USD?
naw its not 150 USD thank god its 505.4 USD right now
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Offline George

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Re: My new bitcoin mining toy
« Reply #4 on: April 21, 2014, 06:02:28 AM »
Is this even safe to discuss here?
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Offline mindcrasherTheFox

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Re: My new bitcoin mining toy
« Reply #5 on: April 21, 2014, 07:27:17 AM »
Quote from: BillyBobJoeGeorge on April 21, 2014, 06:02:28 AM
Is this even safe to discuss here?
yes sure is silly its legal and tech stuff :)  no black hat stuff going on here
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Offline MrRazot

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Re: My new bitcoin mining toy
« Reply #6 on: April 21, 2014, 09:21:12 AM »
It's 100% legal
You have by backing

If I had the cash I'd be building my own
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Offline Marcus

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Re: My new bitcoin mining toy
« Reply #7 on: April 21, 2014, 01:35:04 PM »
But how long does it take for one of these to get a bitcoin?
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Offline mindcrasherTheFox

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Re: My new bitcoin mining toy
« Reply #8 on: April 21, 2014, 02:33:05 PM »
I can get $6.50 a day with it that would be 0.0130 in BTC a day and I also bought a nice scrypt miner that can get 300KH/s so I can pump out the DOGE coin as well


my scrypt miner Single Gridseed Asic Miner - 320-420 KH S Scrypt & SHA Asic Miner – Zoom Hash
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Offline Marcus

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Re: My new bitcoin mining toy
« Reply #9 on: April 21, 2014, 02:58:53 PM »
I still have no clue how any of this works. X3 Though if I  could learn I'd get one eventually
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Offline mindcrasherTheFox

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Re: My new bitcoin mining toy
« Reply #10 on: April 21, 2014, 03:14:49 PM »
its okay I had no idea how it worked ether when i first started then i learned to become internet money


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Offline White Wolf Guardian

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Re: My new bitcoin mining toy
« Reply #11 on: April 21, 2014, 03:49:36 PM »
A few things to mention, what's the energy cost of running the machine per day, how long will the hardware last, and will this form of currency last forever?
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Offline mindcrasherTheFox

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Re: My new bitcoin mining toy
« Reply #12 on: April 21, 2014, 04:27:52 PM »
Quote from: White Wolf Guardian on April 21, 2014, 03:49:36 PM
A few things to mention, what's the energy cost of running the machine per day, how long will the hardware last, and will this form of currency last forever?


i dont pay the energy bill so......... lol
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Offline anoni

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Re: My new bitcoin mining toy
« Reply #13 on: April 22, 2014, 12:09:31 PM »
Quote from: White Wolf Guardian on April 21, 2014, 03:49:36 PM
A few things to mention, what's the energy cost of running the machine per day, how long will the hardware last, and will this form of currency last forever?

Bitcoin mining is not a "sure way" to get money, just like investing is not a "sure way" to get money. However, these are relatively good ways to get money, how much money you get from these ways depends on external factors outside your control, in a way it's gambling, but if you're smart you can make quite a bit of money off it (bitcoin mining is a slow process though, when compared with investing and stock broking.
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Offline mindcrasherTheFox

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Re: My new bitcoin mining toy
« Reply #14 on: April 24, 2014, 12:36:17 AM »



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