Hot!No one doing this any more?

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Rarshaiz
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2016/03/16 10:55:35 (permalink)
I was thinking of doing this but it seams that the only thread here is out of date now.
#1

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    z999z3mystorys
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    Re: No one doing this any more? 2016/03/17 13:23:30 (permalink)
    it seems that it's something that is dying, even the original bitcoin is getting weakening support now.




     
    #2
    Zuhl3156
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    Re: No one doing this any more? 2016/03/18 06:30:18 (permalink)
    When it came to light that the main purpose of Bitcoins was for use in Human Trafficking and the sales and distribution of illegal drugs and firearms many people had second thoughts about contributing to this venture. Nobody is judging someone for wanting to use their PC to make money but there comes a time where some of us made the choice that the money we made wasn't worth the weight it placed on our consciences. This is just my personal opinion on the matter.


     
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    kougar
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    Re: No one doing this any more? 2016/03/18 14:03:27 (permalink)
    The "main purpose"? None of that is indicated on the wiki page. Any form of untraceable and regulation-free currency will become the de facto means for illegal and illegitimate activities, but it's a far cry from saying that's why bitcoins were invented. 
     
    As for why it's falling out of favor, cryptocurrencies are are more computationally intensive to find as they get mined out making finding new coins more difficult. And the payout for finding new blocks is halved every four years, so the end result is that it becomes ever more expensive to mine new coins. There are plenty of other reason though, such as http://blogs.wsj.com/mone...atens-bitcoins-future/


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    bcavnaugh
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    Re: No one doing this any more? 2016/03/18 14:24:42 (permalink)
    I had no idea that Bitcoins are used for "Human Trafficking and the sales and distribution of illegal drugs and firearms"
    I wonder if I should check out BOINC Projects closer to make sure that I am not adding to Bitcoins Cause.
     

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    #5
    duboisi
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    Re: No one doing this any more? 2016/03/21 00:20:57 (permalink)
    Anything that can hold/represent Fiat value can be used for illegal activities. 
    If you are still trying to mine bitcoin today, most probably you are spending more money than the worth of bitcoin you get (after electricity and depreciation cost of H/W). Bitcoin mining is now an industrial level game. 
    The technology behind Bitcoin, the BlockChain, is currently being looked at by many banks and stock exchange. Heard of Ethereum (ETH) that built a platform to empower people to develop Smart Contracts (DAPPs - distributed apps)? ETH was damp profitable to mine with GPUs from Jan to early Mar this year (2.5x to 3x the cost). It was also profitable earlier but the wallet was just too technical to set up and difficult to use the miner. It is still very profitable to mine today and is easy to start mining.
    If your cost is $100 and generate $80 worth of Bitcoin for donation, mining ETH with $100 cost should generate $200 worth of ETH for donation.
    Mining should be a hobby as new technologies/solutions are being introduced regularly. You have to be able to spend time to keep up to date. Now ETH is profitable and more and more people are mining it. The day will come pretty soon when ETH is no longer profitable to mine and you will have to find new profitable Coin(s) to mine.
    If you want to start mining hobby, visit http://cryptomining-blog.com/ for a start. 
     

      
     
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    bcavnaugh
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    Re: No one doing this any more? 2016/03/21 09:22:08 (permalink)
    Well As " CrunchForCoin" under Mining@EVGA on  I Crunch for other BOINC Projects.

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    #7
    Zuhl3156
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    Re: No one doing this any more? 2016/03/22 05:59:46 (permalink)
    EKWB announced yesterday that they will be accepting Bitcoins as payment making my opinion of EK drop a notch or two.


     
     Heatware
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