rings a bell bit coins ?

[acepro71]

ok so what is bit coin mining ?? how can i do it ?? and how will i get money from bit coin mining if i do not want to use  paypal ? and do u need to pay taxes on bitcoins ? 

 

 

[helping]

 

1) It's pretty much too late for you to start at this point

2) You can use alternative payments or buy hard goods

3) you need really good AMD hardware

4) no, no taxes.

 

please post threads like these in the bitcoin subforum and read their FAQs before posting.

 

https://linustechtips.com/main/topic/10886-introduction-to-bitcoins/

[acepro71]

can u help me with it and yes i think i have decent hardware  and what other payment method ?

 

and does it give u real money also i live in india :> also do u need high internet speed for it as i have very less like 40 kbps 

[helping]

can u help me with it and yes i think i have decent hardware 

what do you have and where do you live?

 

depending on both you might not even break even after your power bill

[Owen]

can u help me with it and yes i think i have decent hardware 

I can almost guarantee you you're not going to make money mining with only decent hardware, even really good hardware now. With all the ASIC miners and stuffs you won't even cover the cost of your power bill

[acepro71]

what do you have and where do you live?

 

depending on both you might not even break even after your power bill

i live in india i have fx8350 and 7870 ghz edition 8 gb ram 

[helping]

i live in india i have fx8350 and 7870 ghz edition 8 gb ram 

not going to happen chief

[acepro71]

not going to happen chief

why T_T

[Kayn]

Your best way to make money would be to buy bit coins and save them when they rise in price and then sell them.

 

why T_T

Since there is a limited amount of bit coins and everytime one is created it gets harder to mine them. Now that a lot of people have been mining them for a while it's getting harder and harder to mine them and mining them takes a lot of power, which is where you will either make a very small amount of money or just barely break even.

[acepro71]

Your best way to make money would be to buy bit coins and save them when they rise in price and then sell them.

 

Since there is a limited amount of bit coins and everytime one is created it gets harder to mine them. Now that a lot of people have been mining them for a while it's getting harder and harder to mine them and mining them takes a lot of power, which is where you will either make a very small amount of money or just barely break even.

why are there just a limited numb er of bitcoins ?  

[RuecanOnRails]

http://www.coindesk.com/information/

That should help with some basics.

 

Essentially Bitcoin is an open currency without borders, it's entirely decentralized and out of the hands of governments, it cannot be seized, frozen, or forced refunds. You can transfer value instantly around with little to no fees. It helps bring financial freedom and power back to the hands of consumers. It can be thought of the internet during the early days where people could see potential everywhere, but it wasn't a household thing. Or Bitcoin is to fiat government controlled currency, as Email was to the postal service.

 

As for your hardware, you can only mine on the GPU, you can mine on the cpu, but it's ineffective and can bottleneck the gpu mining.

Rather than mining Bitcoins directly, you would be better off mining and alternate coin then exchanging it for Bitcoin. Litecoin for example uses a different algorithm which at the moment still makes GPU mining effective. Currently it's 4.7x more effective to mine litecoin than it is to mine bitcoin with the same gpu.

 

With that said a single 7870 can get around 450 K/hash.

https://litecoin.info/Mining_Hardware_Comparison

 

using a calculator, if you were to mine litecoin with your GPU running at full speed (likely making your computer laggy, or entirely unusable). You stand to make 0.42 Litecoins = 0.007182 Bitcoins =  $0.89 cents per 24 hours.

https://www.litecoinpool.org/calc?hashrate=450&difficulty=1064.33164887

 

Prices are volatile and shifting constantly. 

 

 

If you are wanting to purchase some Bitcoins, you can find local exchange by searching for your region here.

http://howtobuybitcoins.info/

 

 

 

I would like to add, that it is currently not too late to get into bitcoins. We are still in the early stages of bitcoin and cryptocurrencies, they are growing and becoming bigger in the world each day. People who are just getting into them now, in the longer run, will still be considered early adopters.