KeyserSoze Posted December 4, 2013 Report Posted December 4, 2013 next time buy power server then.... If you're serious about getting into Bitcoin mining I suggest that you either purchase a BFL miner on eBay, or place a pre-order for one of the rip-snortin' fast 300 or 600Gh/s miners that Butterfly Labs will begin shipping in January.
mukunda1 Posted December 4, 2013 Report Posted December 4, 2013 If you're serious about getting into Bitcoin mining I suggest that you either purchase a BFL miner on eBay, or place a pre-order for one of the rip-snortin' fast 300 or 600Gh/s miners that Butterfly Labs will begin shipping in January. antha mining seyyalanna interst led baa.......neeku baane profits vachchaya mari...
tom bhayya Posted December 4, 2013 Report Posted December 4, 2013 If you're serious about getting into Bitcoin mining I suggest that you either purchase a BFL miner on eBay, or place a pre-order for one of the rip-snortin' fast 300 or 600Gh/s miners that Butterfly Labs will begin shipping in January. ee miner enti bhayya... intlo currency printing press pettukunnatta?? ala andaru mine chesthey value ela perigindhi antaavu??
mukunda1 Posted December 4, 2013 Report Posted December 4, 2013 ee miner enti bhayya... intlo currency printing press pettukunnatta?? ala andaru mine chesthey value ela perigindhi antaavu?? u mine the earth for coal, gold.....u mine the bitcoing (currency) network to find virtual currency......
KeyserSoze Posted December 4, 2013 Report Posted December 4, 2013 ee miner enti bhayya... intlo currency printing press pettukunnatta?? ala andaru mine chesthey value ela perigindhi antaavu?? bitcoin is P2P virtual currency..............yes almost intlo printing press laagane..........u will have to join a pool where many people combine to solve a complex algorithm which then generates bitcoins in blocks.....so the present limit of bitcoins awarded for each block is 50...it is expected that by 2017 it will be reduced to 25.....and so on ...so by 2024 it is expected that bitcoins will be hard to mine....so the only way new bitcoins would be created at that time will be by transactions. paina cheppina complex alogrithm ante nuvvu chesedi em undadu...u hav to contribute some computing power to solve some algo which is automated.... So the entire system is designed that only some amount of bitcoins are released at regular intervals...so for example by 2024 it will be hard to mine a bitcoin and they become rare for a new person to acquire so the value you put to acquire a bitcoin in future definitely increase coz of their limited availabiliy
narsayya Posted December 4, 2013 Report Posted December 4, 2013 looks like old currency. Better to stay away from it. The guy who designed this doesn't understand money
KeyserSoze Posted December 4, 2013 Report Posted December 4, 2013 looks like old currency. Better to stay away from it. The guy who designed this doesn't understand money ok ......its not like currency(called currency)...but it is like commodity......I guess its easy to comment on its value or creator when you yourself dont understand how it works.
tom bhayya Posted December 4, 2013 Report Posted December 4, 2013 bitcoin is P2P virtual currency..............yes almost intlo printing press laagane..........u will have to join a pool where many people combine to solve a complex algorithm which then generates bitcoins in blocks.....so the present limit of bitcoins awarded for each block is 50...it is expected that by 2017 it will be reduced to 25.....and so on ...so by 2024 it is expected that bitcoins will be hard to mine....so the only way new bitcoins would be created at that time will be by transactions. paina cheppina complex alogrithm ante nuvvu chesedi em undadu...u hav to contribute some computing power to solve some algo which is automated.... So the entire system is designed that only some amount of bitcoins are released at regular intervals...so for example by 2024 it will be hard to mine a bitcoin and they become rare for a new person to acquire so the value you put to acquire a bitcoin in future definitely increase coz of their limited availabiliy hmm still doesn't make sense to me...pyramid scheme laaga undhi....hardware koni pettukuntey blocks ivvadam ento...value 13.50 undedhi 1k avvadam ento in an year...
ravula Posted December 4, 2013 Report Posted December 4, 2013 Yeah adi konna vallu nindaa munugutaaru
tom bhayya Posted December 4, 2013 Report Posted December 4, 2013 looks like old currency. Better to stay away from it. The guy who designed this doesn't understand money may be he is not a jew or capitalist :)
KeyserSoze Posted December 4, 2013 Report Posted December 4, 2013 hmm still doesn't make sense to me...pyramid scheme laaga undhi....hardware koni pettukuntey money ivvadam ento... its not like pyramid scheme....it(bitcoin system) is like RBI or federal reserve who release real money into economy according to needs and economic conditions.....similar way BT releases bitcoins into the system based on algo which distributes them among its users.
narsayya Posted December 4, 2013 Report Posted December 4, 2013 hmm still doesn't make sense to me...pyramid scheme laaga undhi....hardware koni pettukuntey blocks ivvadam ento...value 13.50 undedhi 1k avvadam ento in an year... Its just worthless crap, Alex. Gold, and Land (which both have uses and are limited).. can be bought and hoarded until their price rises to your expectation for you to sell. Bitcoin can be similarly hoarded, but its silly to expect someone to pay $1000 upwards for a bitcoin.. Although some naive people do. When Bitcoin has no intrinsic value (like gold or land), has no central authority regulating the issue of coins (mining and stopping 10 yrs down the line sounds like a joke), its possible its value reaches higher and higher as more people take into the idea (supply crunch), which will limit the number of people willing to buy into it. Its simply a high schoolers project, very innovative and fun.. but in the end quite silly to work in the real world. Real money is backed by the government and laws it has in its place, and human ingenuity in coming up with products that people want to better their lives. Bitcoin is backed by the enthusiasm of high school students and some naive adults.
narsayya Posted December 4, 2013 Report Posted December 4, 2013 may be he is not a jew or capitalist :) Actually monetary system is not hard to understand. Yet many of them don't.
narsayya Posted December 4, 2013 Report Posted December 4, 2013 ok ......its not like currency(called currency)...but it is like commodity......I guess its easy to comment on its value or creator when you yourself dont understand how it works. Its easy to comment on it, regardless of anything. what do you think about this so called 'commodity' that has to be mined in pittances, and is in such short supply that no one will use it few years down the line. The creator wanted to recreate gold standard without any central authority.. It doesn't work in the modern world. Bitcoin will make many people sad.
tom bhayya Posted December 4, 2013 Report Posted December 4, 2013 its not like pyramid scheme....it(bitcoin system) is like RBI or federal reserve who release real money into economy according to needs and economic conditions.....similar way BT releases bitcoins into the system based on algo which distributes them among its users. RBI or federal reserve are public odies and vaatiki rules and regulations untaayi ikkada avi emi levu plus ila konthamandhi indivuduals ki pothundhi bitcoin not just to exchange.. so antha reliable anipinchatam ledhu naa varaku aithey nenu edho concept ni anatam ledhu.. insred kanappudu who will take the responsibility hacking or security concerns ki enti gurantee..
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