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Old 04-03-2013, 12:12 PM   #101
new//M3fan
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If I had fully understood how to mine, efficiently... and all of this is in fact 100% legit, money producing.

Then what the hell is stopping you guys from buying a shed and hundreds of computers to replicate your success?

If a computer was making me $2,000/week (with me not having to do a single damn thing), then I would have already cleared out BestBuy and would have installed solar panels on my garage door to keep costs down.

no?
Even better just buy enterprise CAD hardware cluster them all up threw them in a couple cages somewhere I'm sure the returns would exceed the costs of bandwidth and power. and profit 50k every day lol
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Old 04-03-2013, 12:12 PM   #102
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Originally Posted by ImPulSe View Post
If I had fully understood how to mine, efficiently... and all of this is in fact 100% legit, money producing.

Then what the hell is stopping you guys from buying a shed and hundreds of computers to replicate your success?

If a computer was making me $2,000/week (with me not having to do a single damn thing), then I would have already cleared out BestBuy and would have installed solar panels on my garage door to keep costs down.

no?
and, if for the guy who claims to have made 70K...let's see if/when that ever gets withdrawn.
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Doing drugs and having sex... oh wow big deal. Well it is actually a HUGE deal.
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Old 04-03-2013, 12:19 PM   #103
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I have two computers running scryptminer for LTC and I'm getting 20.75khash/sec
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Old 04-03-2013, 12:21 PM   #104
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Why the resurgence of interest in cyber currency. Did I miss something?

I was going to do this a long time ago. I have two 5870's lying around. From what I remember they were supposed to be pretty good for this.
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Old 04-03-2013, 12:31 PM   #105
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and, if for the guy who claims to have made 70K...let's see if/when that ever gets withdrawn.
claim? .

so your the hater in the group i see..
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Old 04-03-2013, 12:32 PM   #106
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So wait, is this liquid earnings as pre-tax amounts in a bank account? or X amount of LTC = X amound of USD?

How do you report these earning for IRS purposes?
You dont have to report the earnings since there is no law about it.

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I am running cgminer. I am using the java program that helps optimize the cgminer batch file.

What's going on with my setup? I do see on cgminer thst its 442 kh/s average on cgminer.

How kuch "coins" should I expect a day, a month?
English? At 442 KH/s, that is 87 coins per month, which is about $420.

Quote:
Originally Posted by ImPulSe View Post
If I had fully understood how to mine, efficiently... and all of this is in fact 100% legit, money producing.

Then what the hell is stopping you guys from buying a shed and hundreds of computers to replicate your success?

If a computer was making me $2,000/week (with me not having to do a single damn thing), then I would have already cleared out BestBuy and would have installed solar panels on my garage door to keep costs down.

no?
I have tens of computers mining for me. Price to set up computers is the limiting factor. I like to not be in debt, so I wait until I break even on my mining computer before building more.

Quote:
Originally Posted by Shaban View Post
I have two computers running scryptminer for LTC and I'm getting 20.75khash/sec
Those are some pretty sad CPU's you have going. That is about $20 per month :p

Quote:
Originally Posted by choxor View Post
Why the resurgence of interest in cyber currency. Did I miss something?

I was going to do this a long time ago. I have two 5870's lying around. From what I remember they were supposed to be pretty good for this.
Yes, BTC is now too high and too unreasonable to mine and LTC has gained investor popularity so, if you wish to get on a ship before it steams ahead, get on the LTC ship now.
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Old 04-03-2013, 12:33 PM   #107
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claim? .

so you're the hater in the group i see..
More so a skeptic than anything else... Jusss sayin, withdraw the 70K...
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Last edited by ghorn; 04-03-2013 at 12:34 PM.
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Old 04-03-2013, 12:38 PM   #108
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Halo,

Ok, that answers that.

Is the money earned in a bank account somewhere or purely in LTC?
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Old 04-03-2013, 12:38 PM   #109
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I have tens of computers mining for me. Price to set up computers is the limiting factor. I like to not be in debt, so I wait until I break even on my mining computer before building more.
You made $1,000,000 in the span of four months by mining and trading, yet you're worried about going into debt? I don't know, it's stuff like this that really makes me question it.
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Old 04-03-2013, 12:39 PM   #110
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More so a skeptic than anything else... Jusss sayin, withdraw the 70K...
question, I said 70k, another user said 1 mil... AND I LOOK SKEPTICAL?

Withdraw? never, what the hell will 70k get me? a car? thats a low amount. I'm in it for the huge payout, keep being a skeptic
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Old 04-03-2013, 12:39 PM   #111
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Originally Posted by ImPulSe View Post
You made $1,000,000 in the span of four months by mining and trading, yet you're worried about going into debt? I don't know, it's stuff like this that really makes me question it.
You mean you have doubts about something that essentially claims that it'll give you free money? Why would that be??

Quote:
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Withdraw? never, what the hell will 70k get me? a car? thats a low amount. I'm in it for the huge payout, keep being a skeptic

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Last edited by ghorn; 04-03-2013 at 12:41 PM.
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Old 04-03-2013, 12:42 PM   #112
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I want to get in on this before it is to late.

I also suck at computer related ****.
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Old 04-03-2013, 12:42 PM   #113
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You mean you have doubts about something that essentially claims that it'll give you free money? Why would that be??
its a E-currency, not phsyical infront of you YET.
That is why I bet 10k at a time on sport games, because it's not like I have it infront of me yet. Might aswell milk it because withdrawing.

And there are limitions to withdrawing, depending on who your going with, some compaines only allow 10k/month, some more, all depends on what your trying to do.
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Old 04-03-2013, 12:42 PM   #114
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question, I said 70k, another user said 1 mil... AND I LOOK SKEPTICAL?

Withdraw? never, what the hell will 70k get me? a car? thats a low amount. I'm in it for the huge payout, keep being a skeptic
Have you attempted to even withdraw 5k-10k a sum at least large enough to at least pretend to be a magic lamp genie and make money out of thin air? and buy a idk, a alpha 6 kit for your GTR and some expensive wine to celebrate?

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Old 04-03-2013, 12:43 PM   #115
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Originally Posted by ImPulSe View Post
You made $1,000,000 in the span of four months by mining and trading, yet you're worried about going into debt? I don't know, it's stuff like this that really makes me question it.
Im not worried. I like to keep what I make in the market so it continues to grow. When my miners make enough LTC to cover their cost, I will withdraw it and apply it to more miners.

Quote:
Originally Posted by Genius View Post
question, I said 70k, another user said 1 mil... AND I LOOK SKEPTICAL?

Withdraw? never, what the hell will 70k get me? a car? thats a low amount. I'm in it for the huge payout, keep being a skeptic
Thats why I keep my money in the market, LTC is not done rising
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Old 04-03-2013, 12:43 PM   #116
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You dont have to report the earnings since there is no law about it.
Till they do and then you'll owe xxx,xxx in back taxes
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Old 04-03-2013, 12:44 PM   #117
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its a E-currency, not phsyical infront of you YET.
That is why I bet 10k at a time on sport games, because it's not like I have it infront of me yet. Might aswell milk it because withdrawing.

And there are limitions to withdrawing, depending on who your going with, some compaines only allow 10k/month, some more, all depends on what your trying to do.
So you see what I'm saying, then. Let's say you end up amassing $1MM. You're gonna take it out 10K at a time?? That's assuming this house of cards is still standing as you're attempting to withdraw over those months.

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Originally Posted by new//M3fan View Post
Have you attempted to even withdraw 5k-10k a sum at least large enough to at least pretend to be a magic lamp genie and make money out of thin air? and buy a idk, a alpha 6 kit for your GTR and some expensive wine to celebrate?
^ good question
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Old 04-03-2013, 12:46 PM   #118
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You mean you have doubts about something that essentially claims that it'll give you free money? Why would that be??
I have a basic understanding of what Bitcoins are, however I don't know where to start when it comes to mining and the technological aspects.

You're not exactly getting it for free, since there are costs involved; such as the required hardware and cost of electricity. The data/encryptions that are being solved by the computer just allow you to collect/mine these coins. So you're not necessarily generating money, you're generating bitcoins.

It is then up to the virtual economy as a whole to establish how much those coins are actually worth or something like that...? Either way, it's 100% shady in my eyes but it appears people are still making money, legally. Because of that I won't shut my eyes or mind to the entire process.
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Old 04-03-2013, 12:46 PM   #119
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Till they do and then you'll owe xxx,xxx in back taxes
This, no way around income taxes.

However, if you own a small business which I think anyone should.

You could deduct the purchase price of your equipment and any operational expenses and pay yourself a smaller salary and leaving some in the company. among many other things like say, hey, I needed 5k to scope out the latest GPU in tokyo lol for my mining build haha

In the end paying less money and making more free money out of thin air.
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Old 04-03-2013, 12:48 PM   #120
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I'm good with $1200 a month so long as someone can show me proof that I can actually pull physical cash out of this some how.
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