what is bitcoin mining

[tyler5123]

Someone please explain this process and what it is, how would I do it, is it worth it etc... I heard its basically currency that I can buy stuff with and i see people on craigslist wanting to exchange pc parts for cash or bitcoins. If I can get parts without paying for it out of my check that sounds quite nice to me.

 

[Roxas_Boy]

Here you go http/bit.ly/IPRWt2

 

[13thmonkey]

not worth it with normal PC components.

 

[tyler5123]

i dont want the full run down to the last detail really, more of just a brief summary

 

[Roxas_Boy]

Well basically you run all your components in your PC at 100% 24/7 to do what is crypto-mining which is solving advanced mathematical equations or something like that and it gets harder and harder each time so your PC will have to keep up. Bitcoin mining to start will need like 4 R9 290X i7 4930k custom loop water cooling 1200w PSU and your electricity bill is going to be sky rocket

 

[13thmonkey]

i'm running a 30Gh/s unit that I brought for £600 (now £1200+), over the last 3 months it has just about broken even. £600 of PC components will get you perhaps 600Mh/s and so will break even in your lifetime.

 

[tyler5123]

yeah screw that. not worth my time nor do i have any hardware like that. id rather just work and make that kind of money, be much quicker. thank you for your answers guys.