Bitcoins

Aodhan5000

Hi all,
Been taking a look at earning bitcoins but I don't know where to start even. I mean I know nothing. Can anyone tell me how the whole system works and whats the best or easiest way of earning bitcoins (apart from mining). Thanks.

ED E

Aodhan5000 wrote: »

Hi all,
Been taking a look at earning bitcoins but I don't know where to start even. I mean I know nothing. Can anyone tell me how the whole system works and whats the best or easiest way of earning bitcoins (apart from mining). Thanks.

Buy them.

degsie

Sell pizzas!

http://uk.businessinsider.com/bitcoin-pizza-day-passes-2000-20-million-2017-5

Sabre0001

Pretty lengthy thread here, but could definitely use an FAQ / beginner's guide: http://www.boards.ie/vbulletin/showthread.php?t=2056909179

Zascar

Do you want to create them, like Mining? Pretty technical and not for the feint hearted. It's even very difficult to get the right processors for mining right now. Better of investing - not only in bitcoin, but Ethereum and other AltCoins. Look into Neo.

nuckeythompson

I found ten of them I acquired a few years back for free. Don't know much other than they have sky rocketed in value. How would one even go about selling them?

Johnboy1951

nuckeythompson wrote: »

I found ten of them I acquired a few years back for free. Don't know much other than they have sky rocketed in value. How would one even go about selling them?

https://www.coindesk.com/price/

nuckeythompson

Thank you

PrzemoF

nuckeythompson wrote: »

I found ten of them I acquired a few years back for free. Don't know much other than they have sky rocketed in value. How would one even go about selling them?

Bitcoin? For 10 you can get some cash :-)
Transfer them to an exchange & sell.

U_Fig

I have recently gotten into Crypto currencies, I would suggest unless you have quite the budget for multiple GPUs and a very good deal from your electricity provider mining is not going to be cost efficient. There are other crypto that use other techniques such as Burstcoin which uses hard drive space or Storj which also uses hard drive space but you essentially rent it out that tend to use less electricity and may be more efficient, but ROI is still going to be quite long.

In terms of obtaining Bitcoin (BTC) you can buy them with a credit/debit care or bank transfer from Coinbase. (there are others but I have only used Coinbase) there is a charge of 3.99 when using card (it’s free to deposit from a European bank account as far as I know), then you can use an exchange (Poloneix or Bittrex) to use BTC to buy and sell other crypto coins using the BTC you bought, there are loads of YouTube videos and guides out there on how to use these sites correctly i'd recommend looking as you could be out of pocket if you transfer funds incorrectly, you can also look at private transactions essentially buying off other people but if you are going down this route remember caveat emptor.

either way know the risks and do your homework before doing anything

Johnboy1951

1% return over 140 days in bitcoin, so if you put in 50 euro it will be worth 70 euro in 140 days

Can you explain your calculations please?

€50 = 5,000 cents
1% of 5,000 is 50

So after 140 days €50 would become €50.50, would it not?

Now if you say it is 1% per day, not compounded, then I could see €70 interest ...... but that would equal 365% per annum not compounded.



*******It seems to me that this post (first post) is designed to mislead.********

U_Fig

Johnboy1951 wrote: »

Now if you say it is 1% per day, not compounded, then I could see €70 ...... but that would equal 365% per annum not compounded.

That would equate to interest of €70 tho so it would actually be worth €120 assuming you get the principal back

yoyo

Mod: Shill post removed.

LegallyBlonde2

Can someone explain the difference between a BTC, LTC, DOGE, BCC, ETH and ripple?

Metric Tensor

They are all different types of digital "currency".

So if you consider these cryptocurrencies to be currencies then it's similar to the difference between Dollar, Euro, Sterling, Yen, etc.

If you consider cryptocurrencies to be commodities it's similar to the difference between Gold, Oil, Bananas, Nickle, etc.

If you consider them to be computer generated bits and bytes I suppose one could consider the difference between JPG, BMP, PNG, Tiff - although to be fair that's a very tenuous comparison but the best I could do!

Michael1001

Thinking of investing in bitcoin, any advice on where to start, do's and don't,
And what's involved, thx

Sabre0001

Michael1001 wrote: »

Thinking of investing in bitcoin, any advice on where to start, do's and don't,
And what's involved, thx

There's a forum for Cryptocurrency here where people might be able to help you out / have asked and answered questions that you might have. It's a complex world (and one that is subject to massive change and fluctuations) so definitely best to do some reading and inquiring.

realitykeeper

Years ago I signed up with some crowd in return for a free bitcoin. I wrote down what I think is the free bitcoin (a string of characters, forty odd digits long) and left it at that. If this can be turned into hard cash, great, but how? I checked online and they go on about all kinds of gobbledygook without telling me how a non tech savvy guy can walk in, place his piece of paper with forty odd characters on it on the counter and retrieve cash in return. This digital stuff is all Greek to me.

snowstreams

If that is your private key, you wouldnt want to show anyone the characters. Do you also have a public key (AKA address)

You would need to use a wallet running on a pc to transfer the bitcoins to an exchange like coinbase.
Then you could sell them for cash there.

The easiest thing is to check how much coins you have by using a block explorer or something like that with your public key.