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  #1  
Old 05-29-2014, 10:56 AM
johnisasmith johnisasmith is offline
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Default Bitcoin FAQ: Where do Bitcoins come from, and can I get rich by mining them?



Very interesting article that Dude should read it, since he got a Bitcoin fever.


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Old 05-29-2014, 12:01 PM
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Dude is our Bitcoin expert.
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Old 05-30-2014, 11:23 AM
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I have to listen to gangnam style one more time then I will read the article...

ok, read the article, and it is pretty good and talks about the main problem that no one else recognizes, that the difficulty is constantly changing and getting harder.
I think that is the big reason for the huge differences in peoples results, many people are talking about what you could do a year ago, which does not apply to today.

I still think it's possible to make some money with a computer that uses very little electricity (like the pi). but the days of turning on your lap top and making a million dollars are over.
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Old 05-30-2014, 12:32 PM
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Like with a real gold rush when it was all over the news it was already too late for amateurs and only big corporations mining on a large scale could turn a profit. The main thing is if you want to get rich or just richer you have to jump into it in early stage when very few people know about it.
Like those Hobbyist's Bitecoins, only people here at Utopia know about them.
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Old 05-30-2014, 12:39 PM
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Re Gold

There are many Gold 'Reality' programs out there. It appears some are making a decent wage at it.. I always wanted to try my hand at panning etc. learning.
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Old 05-30-2014, 03:34 PM
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I have zero evidence to support this claim but I am going to make it anyway.

I think if you have a super fast computer board like the ASIC running on a PI which takes almost no electricity, then you can still make some money at this.

basically you have to set yourself up like the big company mining operations, but this can be done for a few hundred dollars.
The easy money days are over, now you have to have some real computer power to go after bitcoins.

There are also some other newer bitcoins out there that are still much easier to mine like LiteCoin so you could buy a dedicated mining computer and mine those, if they catch on like bitcoin did then you have yourself a million dollars.

If Hobby miner turns out to be successful, meaning it could pay for the hardware in a few months, then I would buy one.
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Old 05-30-2014, 07:50 PM
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Hey Dude if you don't have any proof to support your claim just let this guy to be your PR man.



YouTube Video
ERROR: If you can see this, then YouTube is down or you don't have Flash installed.


He is a world master in proving things.
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Old 05-30-2014, 09:47 PM
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He is former CDN Prime Minister Jean Chretien. I met him at the Westin Hotel in Ottawa once. Shared an elevator. He asked what I did etc.. His nephew was a VP at the company I worked for.
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Old 05-31-2014, 10:44 AM
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Hobby is busy mining right now....
soon we will have all the proof we need.
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Old 05-31-2014, 11:19 AM
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Despite very tight security (2 dogs) I have managed to take this picture of Hobby's mining operation.
As you can see Hobby is an old school guy.
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