Geekzone: technology news, blogs, forums
Guest
Welcome Guest.
You haven't logged in yet. If you don't have an account you can register now.
Please note this sub-forum does not provide professional finance advice. You should seek advice from a licensed financial advisor.

To post in this sub-forum you must have made 100 posts or have Trust status or have completed our ID Verification.

If investing please consider our affiliate link for new accounts: Sharesies.



Forums › Finance and wealth management › Anyone here using Bitcoin?
freitasm

BDFL - Memuneh
80657 posts

Uber Geek
+1 received by user: 41068

Administrator
ID Verified
Trusted
Geekzone
Lifetime subscriber

#82546 1-May-2011 14:55
Send private message

I was wondering if anyone here is using Bitcoin?




Referral links: Quic Broadband (free setup code: R587125ERQ6VE) | Samsung | AliExpress | Wise | Sharesies 

 

Support Geekzone by subscribing (browse ads-free), or making a one-off or recurring donation through PressPatron.

 

View this topic in a long page with up to 500 replies per page Create new topic
 1 | 2 | 3 | 4 | 5 | 6 | ... | 7

gjm

gjm
810 posts

Ultimate Geek
+1 received by user: 122


  #464195 1-May-2011 15:59
Send private message

not using it but listened to a very interesting podcast by Steve Gibson explaining it all a few weeks ago now. Podcast is called Security Now if anyone is interested and is usually very good. He even managed to get himself 50 bitcoins by finding one of the numbers with the leading zeros that you can set your pc to search for to earn bitcoins.




Do surveys for Beer money (referral link) - Octopus Group 

 

Link for buying beer (not affiliated, just like beer) - Good George



cdouble
91 posts

Master Geek
+1 received by user: 3


  #464225 1-May-2011 18:09
Send private message

freitasm: I was wondering if anyone here is using Bitcoin?
I've been using it. I have a small amount, used the various exchanges, and stay up to date with the goings on in the community.

JodiTheTigger
17 posts

Geek


  #467148 9-May-2011 15:24
Send private message

I've mined 120 btc so far, sold my first 50btc for NZD $75, my second 50btc for NZD $200.

 

I've spent $1764 on my mining rig, which runs at around 1200 MHash/second. I get around 8-10 btc / day now. However that should decrease in about 6 days time when the difficulty increases.

 

I expect to pay off my kit within 60 days.



icepicknz
309 posts

Ultimate Geek
+1 received by user: 5

Trusted

  #467157 9-May-2011 15:47
Send private message

I dont get it, sounds like it installs a client on your pc to do what? Steal your data? Backdoor to operate a DDoS attack? All sounds a bit fake to me :)




Barry Murphy
ISPMap - New Zealand ISP map
Vibe Communications LTD - Business ISP and Wholesale Carrier



Any comments made by myself don't reflect the views of my employer, they are mine and mine alone

icepicknz
309 posts

Ultimate Geek
+1 received by user: 5

Trusted

  #467158 9-May-2011 15:48
Send private message

Ahh its a game?




Barry Murphy
ISPMap - New Zealand ISP map
Vibe Communications LTD - Business ISP and Wholesale Carrier



Any comments made by myself don't reflect the views of my employer, they are mine and mine alone

cdouble
91 posts

Master Geek
+1 received by user: 3


  #467164 9-May-2011 15:56
Send private message

icepicknz: Ahh its a game?
No, it's an alternative currency using cryptographic principles to handle generation and spending. See http://www.weusecoins.com/

 
 
 
 

Stream your favourite shows now on Apple TV (affiliate link).
Whalefreezer
17 posts

Geek


  #467932 11-May-2011 14:18
Send private message

Heh, I've been watching this for about a year or so and becoming more and more depressed. I had an opportunity to invest way back then but i procrastinated on it Tongue out.

If anyone wants to trade 10 or so coins, pm me and I can wire you the money or something.

lokeynz
106 posts

Master Geek
+1 received by user: 16


#469179 14-May-2011 23:17
Send private message

I've been using it for 3 weeks, built a mining setup consisting of 8x graphics cards, nets about 12 bitcoins per day at current difficulty.

Do you accept BTC for subscriptions? Tongue out

freitasm

BDFL - Memuneh
80657 posts

Uber Geek
+1 received by user: 41068

Administrator
ID Verified
Trusted
Geekzone
Lifetime subscriber

  #469983 17-May-2011 09:39
Send private message

If you hae Bitcoins and want to pay for a subscription, why not? Let's try it...




Referral links: Quic Broadband (free setup code: R587125ERQ6VE) | Samsung | AliExpress | Wise | Sharesies 

 

Support Geekzone by subscribing (browse ads-free), or making a one-off or recurring donation through PressPatron.

 

athor
125 posts

Master Geek


  #470020 17-May-2011 11:04
Send private message

But what does the mining setup actually do? Aside from generate bitcoins.

Does it calculate anything of actual use? Like the ps3 folding@home project? Or does it simply calculate stuff for the purpose of generating bitcoins?

cdouble
91 posts

Master Geek
+1 received by user: 3


  #470029 17-May-2011 11:22
Send private message

athor: But what does the mining setup actually do? Aside from generate bitcoins.

Does it calculate anything of actual use? Like the ps3 folding@home project? Or does it simply calculate stuff for the purpose of generating bitcoins?
It calculates stuff for the purpose of generating bitcoins. Each miner gets given a block of data and must perform a cryptographic hash of this plus data the miner comes up with (called a nonce). If the hash of this combined data is less than a target value, decided by the network, then the miner 'wins' and a block is generated. The block contains the new 50 bitcoins and any transaction fees attached to the transactions included in the block.

So a miner basically takes this data adds a nonce, hashes it and compares it to the target. If it fails then it comes up with a new nonce (it's usually an incrementing integer number), re-hashes it and compares again. It repeats this until successful or given a new block of data, You can see how this can be paralleized (run hashes with different nonces on each CPU) and why GPU's are useful for the process.

 
 
 
 

Shop now for Lego sets and other gifts (affiliate link).
freitasm

BDFL - Memuneh
80657 posts

Uber Geek
+1 received by user: 41068

Administrator
ID Verified
Trusted
Geekzone
Lifetime subscriber

  #470038 17-May-2011 11:48
Send private message

Nice... We have one subscription paid off with Bitcoin now. Balance not updated yet, but let's see how it goes.





Referral links: Quic Broadband (free setup code: R587125ERQ6VE) | Samsung | AliExpress | Wise | Sharesies 

 

Support Geekzone by subscribing (browse ads-free), or making a one-off or recurring donation through PressPatron.

 

kyhwana2
2572 posts

Uber Geek
+1 received by user: 233


  #470109 17-May-2011 14:11
Send private message

How do we pay with bitcoin?

freitasm

BDFL - Memuneh
80657 posts

Uber Geek
+1 received by user: 41068

Administrator
ID Verified
Trusted
Geekzone
Lifetime subscriber

  #470110 17-May-2011 14:13
Send private message

If you have bitcoins you will need the id for the payee, and you then start a transaction to the id...




Referral links: Quic Broadband (free setup code: R587125ERQ6VE) | Samsung | AliExpress | Wise | Sharesies 

 

Support Geekzone by subscribing (browse ads-free), or making a one-off or recurring donation through PressPatron.

 

kyhwana2
2572 posts

Uber Geek
+1 received by user: 233


  #470184 17-May-2011 17:43
Send private message

freitasm: If you have bitcoins you will need the id for the payee, and you then start a transaction to the id...


No, I mean how do we pay for subs with bitcoin. ;)

Can we just PM you or something? how many bc's is it?
 

 1 | 2 | 3 | 4 | 5 | 6 | ... | 7
View this topic in a long page with up to 500 replies per page Create new topic








Geekzone Live »

Try automatic live updates from Geekzone directly in your browser, without refreshing the page, with Geekzone Live now.


Updates »

Are you subscribed to our RSS feed? You can download the latest headlines and summaries from our stories directly to your computer or smartphone by using a feed reader.








RSS feeds
Main feed
Forums feed
Copyright
©2002-2026 Geekzone®
Site features
Geekzone BI dashboard
Geekzone Badges
Geekzone Status Page

 

Site Information
Subscribe to Geekzone
Privacy Statement
Forum Usage Guidelines (FUG)
Advertising
Trademark and copyright