Author Topic: What is the use of Money minig?  (Read 1415 times)

santhoshidatasoft

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What is the use of Money minig?
« on: March 29, 2014, 01:54:20 AM »
What is the use of Money minig?

ravinder.k

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Re: What is the use of Money minig?
« Reply #1 on: May 11, 2014, 05:15:15 PM »
HELLO

First of all, lets talk about hardware (click on the link for a long and useful list). You won't make money mining bitcoins unless you either have a really high-end GPU from ATI, an FPGA or an ASIC. That's the short answer. Having a decent CPU can be used for Litecoin mining, which can be a small income in itself, but we are here to talk about Bitcoin.

To see whether you will earn any money, you need to input a few pieces of data into a special calculator:

    cost of your hardware (cost of buying an ASIC, GPUs, motherboards, power supplies, etc.)
    how fast can it hash (mega hashes per second). This you can get from your hardware list
    how much power does it consume (again, hardware list)
    your cost of electricity (check with your power company)


Ameen

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Re: What is the use of Money minig?
« Reply #2 on: May 22, 2014, 10:04:10 AM »
Bitcoin as a form of payment for products and services has seen growth, and merchants have an incentive to accept the digital currency because fees are lower than the 23% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections.[Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

anil123

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Re: What is the use of Money minig?
« Reply #3 on: May 22, 2014, 05:54:28 PM »
Bitcoin is a peer-to-peer payment system introduced as open source software in 2009 by developer Satoshi Nakamoto. The payments in the system are recorded in a public ledger using its own unit of account, which is also called bitcoin. While not considered a true currency, bitcoin is commonly referred to as a digital currency, virtual currency, electronic money, or cryptocurrency. The bitcoin system is not controlled by a single entity, like a central bank, which has led the US Treasury to call bitcoin a decentralized currency. Because bitcoins can be transferred directly from one person to another they are sometimes described as digital cash.

Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for other currencies, products, and services.Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.

abhilash

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Re: What is the use of Money minig?
« Reply #4 on: May 22, 2014, 07:51:37 PM »
Hello,

Bitcoin is the first currency to be controlled by a cryptographic protocol rather than a central bank. Basically you pay for something by sending BTC from a virtual wallet in your computer to the merchant's computer. your computer can become a node in the network that processes and verifies the transactions. With every blockchain that is processed a new block of 25 coins, worth around $2500 at today's prices, is created. This is known as bitcoin mining.


Thanks

sabithppk

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Re: What is the use of Money minig?
« Reply #5 on: May 23, 2014, 03:20:56 AM »
HELLO

First of all, lets talk about hardware (click on the link for a long and useful list). You won't make money mining bitcoins unless you either have a really high-end GPU from ATI, an FPGA or an ASIC. That's the short answer. Having a decent CPU can be used for Litecoin mining, which can be a small income in itself, but we are here to talk about Bitcoin.

To see whether you will earn any money, you need to input a few pieces of data into a special calculator:

    cost of your hardware (cost of buying an ASIC, GPUs, motherboards, power supplies, etc.)
    how fast can it hash (mega hashes per second). This you can get from your hardware list
    how much power does it consume (again, hardware list)
    your cost of electricity (check with your power company)

THANKS
SABITH

pavithra101

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Re: What is the use of Money minig?
« Reply #6 on: May 23, 2014, 03:42:18 AM »
Hello,

Bitcoin is the first currency to be controlled by a cryptographic protocol rather than a central bank. Basically you pay for something by sending BTC from a virtual wallet in your computer to the merchant's computer. your computer can become a node in the network that processes and verifies the transactions. With every blockchain that is processed a new block of 25 coins, worth around $2500 at today's prices, is created. This is known as bitcoin mining.

Thanks,
Pavithra

hruthika

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Re: What is the use of Money minig?
« Reply #7 on: May 23, 2014, 04:09:54 AM »
Hello,

Bitcoin as a form of payment for products and services has seen growth, and merchants have an incentive to accept the digital currency because fees are lower than the 23% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections.[Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

Thanks,

Ameen

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Re: What is the use of Money minig?
« Reply #8 on: May 23, 2014, 08:32:54 AM »
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for other currencies, products, and services.Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.Bitcoin is the first currency to be controlled by a cryptographic protocol rather than a central bank. Basically you pay for something by sending BTC from a virtual wallet in your computer to the merchant's computer. your computer can become a node in the network that processes and verifies the transactions. With every blockchain that is processed a new block of 25 coins, worth around $2500 at today's prices, is created. This is known as bitcoin mining.


jaswin.datasoft

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Re: What is the use of Money minig?
« Reply #9 on: May 23, 2014, 08:34:12 AM »
Bitcoins are created as a reward for payment processing work in which users offer their computing power to verify and record payments into the public ledger. Called mining, individuals or companies engage in this activity in exchange for transaction fees and newly created bitcoins. Besides mining, bitcoins can be obtained in exchange for other currencies, products, and services.Users can send and receive bitcoins electronically for an optional transaction fee using wallet software on a personal computer, mobile device, or a web application.Bitcoin is the first currency to be controlled by a cryptographic protocol rather than a central bank. Basically you pay for something by sending BTC from a virtual wallet in your computer to the merchant's computer. your computer can become a node in the network that processes and verifies the transactions. With every blockchain that is processed a new block of 25 coins, worth around $2500 at today's prices, is created. This is known as bitcoin mining.

shajahan

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Re: What is the use of Money minig?
« Reply #10 on: May 27, 2014, 11:40:17 AM »
Bitcoin as a form of payment for products and services has seen growth, and merchants have an incentive to accept the digital currency because fees are lower than the 23% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections.[Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.

nidhinpereira

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Re: What is the use of Money minig?
« Reply #11 on: July 25, 2014, 06:56:13 PM »
hello sir,
 Gerald has more than 30 years of experience in business planning, analysis and change management in a range of industries in Australia and internationally.
As Managing Director of Whittle Consulting (specialists in business optimisation for the mining industry) for the past 12 years, Gerald handles optimisation project management, optimisation strategies and model design, business analysis and management reporting/presentations. Some major clients include Xstrata, Vale/Inco, BHP Billiton, Minara, Lihir, Newcrest, AngloGold Ashanti and Gold Fields covering a range of commodities including Nickel, Copper, Gold, Lead, Zinc, Coal, Iron Ore and Bauxite.
Bringing together important lessons learnt in other industries, including activity based costing and the theory of constraints, Gerald brings new light to the peculiar challenges of business planning and optimisation for the minerals industry.

santhoshidatasoft

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Re: What is the use of Money minig?
« Reply #12 on: July 26, 2014, 01:39:43 AM »
Bitcoin as a form of payment for products and services has seen growth, and merchants have an incentive to accept the digital currency because fees are lower than the 23% typically imposed by credit card processors. The European Banking Authority has warned that bitcoin lacks consumer protections.[Unlike credit cards, any fees are paid by the purchaser not the vendor. Bitcoins can be stolen and chargebacks are impossible. Commercial use of bitcoin is currently small compared to its use by speculators, which has fueled price volatility.