How can i safely get some bitcoins?

Ultra_Extreme

Ultra_Extreme

Ultra_Extreme

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For some reason a service i use a lot has recently changed subscription to bitcoins and the whole process of getting them is a PITA and looks very dodgy. Im experienced in IT but id like to know if anyone has worked with bitcoins before and what they would reccommend for getting some, itll be a one off 10 coin purchase and ill probs never use them again.

Cheers guys.
 
https://localbitcoins.com/buy_bitcoins
I've bought some from localbitcoins before via bank transfer

they are expensive as hell now though because now every generated block mined is only worth 25BTC instead of 50 causing them to double in value :S

another place you can get them is mtgox but it takes days from there where localbitcoin should be almost instant.
 
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Ultra_Extreme said:
blimy is pretty expensive? what the odds of me mining a few? is it hard? i have top end pc if that helps?
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would take you forever :P

if you joined a mining pool and used say a 7850 to mine you would likely yield 0.05 coins per day


just look at the mining pool stats
https://mining.bitcoin.cz/stats/
even with 2734.308 Ghash/s it takes 40mins-3hours to generate a block of 25 coins.

My amd 7850 @ 1ghz was munching a measly 300Mhash/s
 
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[FnG]magnolia;23794214 said:
Are people still messing about with bitcoins? My goodness.
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yea people who buy drugs from a certain website on the hidden internet

22m $ per year goes through that website according to authorities and they cant do a damn thing about it because its running on a p2p version of the internet where everyone is anonymous and because its bitcoins they cant trace the payments to a person.

must be about the only thing making bitcoins have any real value
 
arknor said:
would take you forever :P

if you joined a mining pool and used say a 7850 to mine you would likely yield 0.05 coins per day


just look at the mining pool stats
https://mining.bitcoin.cz/stats/
even with 2734.308 Ghash/s it takes 40mins-3hours to generate a block of 25 coins.

My amd 7850 @ 1ghz was munching a measly 300Mhash/s
Click to expand...

joined a pool m8 and im running oc's 7970's xfire. Gonna leave it run a few months, should get me some
 
Ultra_Extreme said:
joined a pool m8 and im running oc's 7970's xfire. Gonna leave it run a few months, should get me some
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https://50btc.com/index was the pool I used they have nice stats and stuff for your "miner"
I used to use GUI miner to mine with
Let me know what hashrate you get with those beasts :D (you probably need to run 2 separate miners inside guiminer one for each card, doubt you can run them in crossfire mode)

some people made stupid amounts of money when bitcoin first started and it was easy to generate coins, although at that time there real world value was small some people were smart enough to hoard them, I believe there were a few millionaires made from it.


how the network works is the difficulty of the blocks is determined by the amount of people mining when bitcoin was new not many people were mining so even mining without a pool you could generate a block in a day if you were lucky
 
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Ultra_Extreme said:
yeah looks like it im reading 450mhash each card atm going up and down tempted to buy a third now lols
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lol bet the electric costs aren't cheap , theres probably a calculator somewhere for it but at least you wont need to have your heating on

dunno what watts those card use I just put 600 in a calculator which is probably OTT
@ 900mhash/s
with 0.15$ per kwatt (which is probably more than you pay assuming your ignoring the $ and pretending it says £)
Coins per 24h at these conditions 0.1240 BTC
Power cost per 24h 2.16 USD
Revenue per day 3.48 USD
heres the calculator http://www.bitcoinx.com/profit/
 
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Running your hardware like that all the time... surely it's counter productive (more money on electricity/initial cost/spare parts?)

EDIT: LOL d'oh! As above post!
 
I'm convinced Bitcoins are actually a cunning ploy by the Film and Music Industry by making the process such a palaver you decide it's easier just to go buy that ****ing Blu-Ray! ;)
 
arknor said:
lol bet the electric costs aren't cheap , theres probably a calculator somewhere for it but at least you wont need to have your heating on

dunno what watts those card use I just put 600 in a calculator which is probably OTT
@ 900mhash/s
with 0.15$ per kwatt (which is probably more than you pay assuming your ignoring the $ and pretending it says £)
Coins per 24h at these conditions 0.1240 BTC
Power cost per 24h 2.16 USD
Revenue per day 3.48 USD
heres the calculator http://www.bitcoinx.com/profit/
Click to expand...

good job i dont pay leccy then. PC runs 24/7 on a business premises either way, so makes no odds. Bit of research and hooking a load meter up to my PC (im sad) i can estimate the increase in power use is around 250w making it fairly reasonable imo.

Good point tho, in other circumstances where is the profit? For me? i want ten fuarking bitcoins, thats all, and im not paying 200 for em! :D
 
iv just started this on my rig, using a 6950 sapphire dual fan edition im getting around 260-270Mhash/s, this is on standard clocks, not sure if this is a good speed or not?
 
well ill check back in a decade or so if i got some coins, pretty impressive in some ways if coins are like almost £20 each!? but gonna take me some damn time to get 10 for sure!
 
Curious... Is it worth it with a GTX 480? Should I sign up with a different email address than my usual one?
 
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