Does anyone BitCoin mine?

[Jason Segel]

Just wondering if anyone does this and if you do, if you want to start a pool. It basically consists of you running some code that tries to solve these problems and uses almost all of your available GPU. I just started doing this and I'm probs going to buy a custom computer to run this. Also, BitCoins are these expensive little e-currency that you can send and are worth like 11 dollars each I think and with BitCoin mining you can earn them.

 

[Raptor]

If somebody could explain how bitcoin mining actually works in a logical, concise yet simple manner, I'd be delighted.

 

[Jason Segel]

If somebody could explain how bitcoin mining actually works in a logical, concise yet simple manner, I'd be delighted.

BitCoin mining works by using your computers GPU to solve large equations which then send BitCoins, a virtual currency into your computer which can be sold and traded like stocks. There is currently about 130 Million dollars left of bitcoins to be mined.


You could have used Google but whatevs

PS look at this shit. It makes me mad
http://gyazo.com/d62de3133e2e08d0ea16343be2b3a66a
same shit happens when I render videos
mind you im on a shitty imac with a bad GPU and CPU.

 

[Raptor]

BitCoin mining works by using your computers GPU to solve large equations which then send BitCoins, a virtual currency into your computer which can be sold and traded like stocks. There is currently about 130 Million dollars left of bitcoins to be mined.


You could have used Google but whatevs

PS look at this shit. It makes me mad
http://gyazo.com/d62de3133e2e08d0ea16343be2b3a66a
same shit happens when I render videos
mind you im on a shitty imac with a bad GPU and CPU.

I understand that, but why does solving large equations result in you receiving this e-currency? Why would they give out money for the solving of complex equations?

 

[Jason Segel]

I understand that, but why does solving large equations result in you receiving this e-currency? Why would they give out money for the solving of complex equations?

I'm not sure. It amazes me too. I'm going to keep this sentence going so I'm not character evading. THERE ADMINS, SUCK IT

 

[Raptor]

I'm not sure. It amazes me too. I'm going to keep this sentence going so I'm not character evading. THERE ADMINS, SUCK IT

Yeah I understand that it works, and how it works, but I don't get why it works. If somebody could clarify this for me I'd be appreciative. How do you even know how many Bitcoins are left to be mined?

 

[Jason Segel]

Yeah I understand that it works, and how it works, but I don't get why it works. If somebody could clarify this for me I'd be appreciative. How do you even know how many Bitcoins are left to be mined?

I just found out about this yesterday. I'm debating whether to blow 650 on a rig for it that's said to pay itself off.
Edit: I'm mainly interested for the fact that it could help payoff my idea of a super computer.