Hello good sir,
with 1th/s you will get about 0.01 or something per day, so lets say 0.30 per month (maybe a little more). i recommend renting your rig out on nicehash.com or mining on f2pool. you will not have good luck by solo mining ( the probability of you getting a block is very very very small, look up on google for solo mining ).
As for virtual money, you are correct and wrong at the same time. Its crypto-currency, as in secured by a cryto-chain, based on (so far) un-attackable cryptography. I agree the mining part is peculiar, but the miners run the chain and process the transactions. people like gold, use it as a medium of exchange, a store of value and as decorative items (small % industrial use) - the same is true of bitcoin in a sense - it is safe to store, perfect medium of exchange. you can send btc to anywhere in the world, instantly. any amount. so that has value just in that factor. merchants usually take bitcoin, convert right away to usd or their home currency - because their costs are in the home currency and because btc has high volatility (and is falling all the time). so you can do international transactions without any personal information online, without any banks/credit cards, etc.
Topic: new to Bitcoin, something i don't get ! - page 2. (Read 1826 times)
Theres no money in small time mining anymore.. The big guys have taken over.. Better to plunk ur money directly into buying bitcoins and holding.
Am new to bitcoin, I only got two questions,
as per some calculators if i mine @ 1 TH/sec am supposed to make say ~70$/month (after paying my power bill which is dirt cheap in the UAE)
so is this if I mine alone (which I haven't learned yet) or if am on a mining pool ?...
and the thing that am wondering about A LOT and can't find a definite answer to, ok now am mining some VIRTUAL (NOT REAL) money, why does that matter ?? and why do retailers and maybe shops start accepting bitcoins ?? ok say some other websites actually buy their bitcoins for real CASH, why the hell do online exchanges buy your bitcoins for real cash ??! i mean what good is something virtual for anyone ??!
Unlike let's say the real mining for gold (for the sake of this argument), GOLD is something people love to have, so they buy for their real money, but why would exchanges buy your virtual bitcoins for money ??
am sorry if I sound lame, but I just want to understand this !...
Thank you,
as per some calculators if i mine @ 1 TH/sec am supposed to make say ~70$/month (after paying my power bill which is dirt cheap in the UAE)
so is this if I mine alone (which I haven't learned yet) or if am on a mining pool ?...
and the thing that am wondering about A LOT and can't find a definite answer to, ok now am mining some VIRTUAL (NOT REAL) money, why does that matter ?? and why do retailers and maybe shops start accepting bitcoins ?? ok say some other websites actually buy their bitcoins for real CASH, why the hell do online exchanges buy your bitcoins for real cash ??! i mean what good is something virtual for anyone ??!
Unlike let's say the real mining for gold (for the sake of this argument), GOLD is something people love to have, so they buy for their real money, but why would exchanges buy your virtual bitcoins for money ??
am sorry if I sound lame, but I just want to understand this !...
Thank you,
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