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If you're really proactive, you can use media like E-Bay and Craig's List to unload unwanted goods for Bitcoin and Litecoin by exchanging on local currency markets.Originally Posted by Cthulhu
Why the Only Real Way to Buy Bitcoins Is on the Streets - Wired
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Not the whole truth.
Tradition is not the worship of ashes, but the preservation of fire. ― Gustav Mahler
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What do you know of the mining process @Ethereal? Is it worth it to mine? Or just buy into it?
"For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."
Ephesians 6:12
Senior Member
With Bitcoin, the return on mining is determined by how much relative computing power you contribute to the Bitcoin network, and due to the advent of industrial mining rigs, most "normal" users cannot contribute enough power to get a good return on their investment, so it's not worth sacrificing your computing power unless you have a lot to spare. With Litecoin, however, the designer took this into consideration and made Litecoin mining more egalitarian so that everyday users wouldn't be out-competed by the industrial mining rigs. I would say mine it and buy it. But be careful because it's relatively volatile.
Last edited by Ethereal; 10-28-2013 at 09:16 PM.
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So computing power is the hang up eh? Well I have access to old computers that could easily be purposed to mining en masse. Campus surplus. Slap linux on them and leave them as a mining server. Wouldn't be that difficult really.
Define 'relatively volatile' though.
"For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."
Ephesians 6:12
Senior Member
Mostly for Bitcoin. Litecoin is engineered differently. Are you paying for the electricity yourself or just using idle campus infrastructure?
His Bitcoin fork was worthless the day he launched it, and it was hardly the only Bitcoin alternative out there. But Lee took a different tack from some of the other Bitcoin imitators. He released the currency to the world after mining a mere 150 Litecoins. That meant that the whole world could get in on the currency on the ground floor.There was also a bonus for miners, who in October 2011 were engaged in an escalating technology race in the Bitcoin world. Bitcoin miners earned coins by participating in a kind of cryptographic lottery and the folks who could do the most mathematical calculations were rewarded with the most Bitcoins. But as Bitcoin surged in value, people started building complex Bitcoin mining rigs that could do more calculations and therefore earn more Bitcoins.
Litecoin leveled the playing field, using a technology called Scrypt to lower the advantage miners would get by switching to GPU rigs or custom-designed mining systems.
http://www.wired.com/wiredenterprise/2013/08/litecoin/I admit I got no solid numbers for that. For all I know, a random sample of stocks could be more volatile than Bitcoin and Litecoin.Define 'relatively volatile' though.
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Read: http://mises.org/journals/rae/pdf/R72_3.PDF
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"The difference between what we do and what we are capable of doing would suffice to solve most of the world’s problems.”
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Senior Member
Some could be on campus, others at home.
"For we wrestle not against flesh and blood, but against principalities, against powers, against the rulers of the darkness of this world, against spiritual wickedness in high places."
Ephesians 6:12
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