Anyone mining for BitCoins??

[NicoChristian]

If I can't hold it in my hand I'm not interested. I collect gold and silver coins as well as other coins. Stock prices mean nothing to me, gold and silver are precious metals and always will be. They will always have value, crypto and cyber currency will always be worthless in the real world. The sooner we give up on invented worth the better, Jews have been tricking people for centuries with fake currency. Time to take back the real world with real things, not fantasy.

[Filidh]

i stand even further corrected, apparently bitcoin was never up to much good from the word go. that's what i get for supporting something without getting all the facts.
http://www.nationale-revolution.net/for ... 1054672396

the spirit of the thread is that bitcoin has been monitering interactions of its users and siphoning off money to get the founders rich.

yeah, i am an ass for assuming it was legit before i dug deeply into it.

[wmfinck]

Thanks, Filidh, for sharing this.

Here is the Google Translate text of the link Filidh provided. It is far from perfect, but the general meaning can be ascertained:

25 February 2014 16:31
Theft of digital currency Largest Bitcoin Exchange goes offline

Crisis of confidence for the digital currency Bitcoin : The largest stock exchange Mt Gox has disappeared overnight. Plants worth more than $ 300 million could just be gone.

From Jannis Brühl and Matthias Huber

At a stroke should be gone six percent of all money. Mt Gox , the most important market for digital - and headline-grabbing - Currency Bitcoin is , apparently collapsed. The price of the currency is then slumped massively down. This leads to instability in the community of those who believed in the currency because they considered it a classic cash for superior - or wanted to earn a lot of money with it .

Bitcoins were created by a phantom , a Japanese programmer , from the fact no one knows what he looks like . They are mined by computer solve complex computing tasks . Your total amount is limited to 21 million , the value of a single Bitcoin had risen to more than $ 1,000 this winter. Now, this value has dropped within a few days on the major exchanges to less than half , at the lowest on Mt Gox itself

Mt Gox , headquartered in Tokyo , is in disarray since the weekend . The site is offline, all the tweets of the company have been deleted , CEO Mark Karpeles resigned from his post on the board of the Foundation back , which advocates for the currency.

The makers were not reachable for a day . The Reuters news agency has now received an e -mail from Karpeles . He was working with other leaders in a statement , he writes. The business had reached a "turning point" .

Already on 7th February, Mt Gox - allegedly due to a software error - frozen the money of its users and thus sent the price plummeting .

One possible cause of the sudden from the platform could be a considerable electronic theft. An internal document may , according to whose authenticity has not yet been confirmed , to about 744 000 Bitcoins have been stolen - six percent of all Bitcoins are in circulation. About 120 000 of the stolen Bitcoins should therefore originate from the holdings of Mt Gox itself .

For Mt Gox , the debt to customers up to $ 350 million would amount , calculated at the exchange rate on Monday . The mountain of debt could mean the bankruptcy of the platform. The owners of Bitcoins , which are still stored at Mt Gox , their virtual money would be going on then . Under the domain mtgox.com was only to find a blank Web page . Finally, on Tuesday afternoon it seemed an indication that Mt Gox have all the transactions set "given the coverage and their possible consequences on the market " until further notice. The publication of this notice corresponds to the strategy described in the allegedly internal paper.
" Digital Darwinism "

Critics are likely to feel vindicated by the events at Mt Gox . Several central banks and financial supervisors had warned of Bitcoins . Hold the currency for an uncertain object of speculation in the Gullible could lose a lot of money . Others, like the Winklevoss twins , known by its legal battle with Mark Zuckerberg about the invention of Facebook, speculated on sharply increasing prices of the currency.

Other actors in the scene to minimize the damage : The Chefs Another great Bitcoin exchanges like Coinbase or Octopuses have published a message. You speak of a " tragic violation of trust of the users from Mt Gox " which, however, does not alter the reliability of the currency Bitcoin . Mt Gox can not be considered representative for the industry , the chaos there, they explain with digital Darwinism : " As with any new industry, there are certain bad actors that need to be eradicated , and that we see today . "

Bitcoin investors fear long been a crash of the main trading platform. As early as June last year, sat Mt Gox for several weeks, all disbursements from , in September seemed the problems to be solved. Since 7 February come Investors no longer on their money.

The internal document may , according to the makers of Mt Gox , however, are not at the end. Accordingly, they are pursuing a strategy to elicit the purse out of a huge debt - and then start in a few weeks under new names .

Source: http://www.sueddeutsche.de/wirtschaf...line-1.1897687

[xBluxTunicx82]

Here's my problem with bitcoin mining: I have had several 'bitcoin miners' installed by a 3rd party on my computer unknown to me simply because my anti-virus was out of date. It caused serious problems with the usage of my RAM to the point of CPU usage at 100% when sitting idle. It took nearly a month for me to completely remove all instances of the miner. So be aware that mining may very well cause others some serious issues. Yah bless

[fistofyahweh]

Here's my problem with bitcoin mining: I have had several 'bitcoin miners' installed by a 3rd party on my computer unknown to me simply because my anti-virus was out of date. It caused serious problems with the usage of my RAM to the point of CPU usage at 100% when sitting idle. It took nearly a month for me to completely remove all instances of the miner. So be aware that mining may very well cause others some serious issues. Yah bless

what bitcoin mining applications are you talking about? there's not a one that I know of that you install on your PC that mines for BitCoins or AltCoins without you knowing about it. There are digital currency wallets that you can install and all those do is allow you to receive or send your digital currency to other wallet holders or businesses that accept digital currency for payment.

it's sounds like what you had was some sort of malware that was disguised as a bitcoin mining app.

-FOY-

[wmfinck]

After maybe as long as two years of observation, I relented and started a Bitcoin account. Now, I am still persuaded that it is a scam.

But there is someone who makes videos of interest to us in Europe and who for that reason also cannot start anything like a Paypal account. There must be an anonymous way for him to receive funds.

More and more people of that type, at least in Europe and Canada where there is imminent risk in spreading our message, have chosen Bitcoin as their method of receiving funds.

So wanting to send our video maker a few dollars, I needed to do be able that, and that is why I began the account.

I am still betting it doesn't last, but maybe those who rely on it outside of the US will prove me to be wrong.

[jesseatkinson1027]

I bought about $500 worth of bitcoin a few months ago back when it was $380 per bitcoin. I sold as soon as it reached $460. Made a nice little profit.

I do not mine for bitcoins because in order to make a good profit it seems like you need specific hardware designed for bitcoin mining that costs a few thousand dollars to start up. Also, mining using that computer is going to use up electricity. I'd rather just invest smartly in bitcoin.

Just an FYI, I expect Bitcoin to jump back up near the thousands around pagan Christmas this year. So might be a good idea to invest a few hundred if Bitcoin drops back down near $420 range then sell making about a $500 profit per bitcoin.

Of course, if I am wrong then it will still go up enough to make your money back.
I use coinbase.com for buying as well as selling my Bitcoins. There is also localbitcoins which you might be able to fetch a better sell price but beware of scams.

Don't buy if you cannot afford to sit on the investment for a few months or you're going to end up losing some of your money.

[jesseatkinson1027]

Also, Bill I think that it will last as long as the online blackmarket is up. There are millions of dollars of drugs, counterfeit currency, credit cards, etc. being bought and sold all the time using bitcoin.

Of course there are things like litecoin but as long as Bitcoin is a trusted easy option that isn't costing just for the use then I expect it to remain an option to make donations.

I stress the importance of watching Bitcoin prices though when cashing out Bitcoin anyways because someone might have donated $100 dollars let's say but that could go down to $90 or up to $110 based on fluctuations of Bitcoin prices.