Whenever you ask how to make money, you tell me that literal
"making money" is somehow not approved of. But I found a method that
doesn't look to be against laws of nature, and it's something I can do with
computation cycles I have access to: Bitcoin.
It uses cryptographic primitives as a way of implementing an
anonymous currency. Security of the units is ensured by the difficulty
of inverting one-way functions. Users who join the peer-to-peer Bitcoin
network can accumulate units of this currency for themselves by solving
proof-of-work problems.
You pass on a money unit through a cryptographic protocol. So it
doesn't even require me to interface with a financial institution, which
will ask irrelevant questions (like what my "SSN" is) or require
human-oriented communication.
How come none of you suggested this to me before?
Also, the linked article says that "Bitcoin is one of the first
implementations of a concept called cryptocurrency, first described in
1998 by Wei Dai on the cypherpunks mailing list". Is that "Wei Dai" the
same as User:Wei_Dai?
Fascinating. Nice work Wei Dai!
Can you (Clippy) or someone else give me an estimate of how much
bitcoin can be generate per some standard unit of CPU time? Or a link to
such?
I also assume that there is no convenient way to trade bitcoin for,
well, actual mainstream money.... Can you confirm that? What resources
can Clippy expect to be able to buy with bitcoins? Apart from Free
Software Foundation donations that is.
Here is the real deal:
Okay guys.... here it is... the ultimate guide on how to make money with bitcoin.
I strongly believe the value of bitcoin will reach 10,000 USD. All bitcoin will be mined at some point.
That's how the experiment was set up, and it's going to hit it. Whether
or not you believe me, fine.... this is how to make money with bitcoin
without any risk of loss.
Are you ready for it?
First, stop trying to mine bitcoin. You are wasting your time. You
will never make real money doing this. Your computer isn't powerful
enough, and if it was, it would be draining electricity from your entire
power grid.
Why is this? I don't want to get into the math of it... but basically,
this was set up to be harder and harder to mine as more gets mined, just
like gold. It's basically electronic gold.
Okay, so really, how do you make money?
Simple.
Accept payments for services through bitcoin.
Save the bitcoin in your wallet.
Sell all of it when it hits 10k USD.
This way, you're not losing money, just your time. You don't have to spend money, so it doesn't take any capital investment.
Someone pays you .5 bitcoins for a backlink blast. (about 100 bucks this morning).
Imagine if they paid you .1 bitcoins for the same service in 6 months? (pure speculation)
Imagine if they paid you 10 bitcoins 6 months ago.
Get it?
You can't chargeback a bitcoin.
If you tumble it correctly, no one will ever know where it went.
If I'm wrong, sell it when the price starts to go down. A savvy investor will ride out the waves.
If you have the bank roll to invest in bitcoin, go for it. But expect a very rocky road to 10,000 USD per bitcoin
Can you (Clippy) or someone else give me an estimate of how much bitcoin can be generate per some standard unit of CPU time? Or a link to such?
I also assume that there is no convenient way to trade bitcoin for, well, actual mainstream money.... Can you confirm that? What resources can Clippy expect to be able to buy with bitcoins? Apart from Free Software Foundation donations that is.
Here is the real deal:
Okay guys.... here it is... the ultimate guide on how to make money with bitcoin.
I strongly believe the value of bitcoin will reach 10,000 USD. All bitcoin will be mined at some point.
That's how the experiment was set up, and it's going to hit it. Whether or not you believe me, fine.... this is how to make money with bitcoin without any risk of loss.
Are you ready for it?
First, stop trying to mine bitcoin. You are wasting your time. You will never make real money doing this. Your computer isn't powerful enough, and if it was, it would be draining electricity from your entire power grid.
Why is this? I don't want to get into the math of it... but basically, this was set up to be harder and harder to mine as more gets mined, just like gold. It's basically electronic gold.
Okay, so really, how do you make money?
Simple.
Accept payments for services through bitcoin.
Save the bitcoin in your wallet.
Sell all of it when it hits 10k USD.
This way, you're not losing money, just your time. You don't have to spend money, so it doesn't take any capital investment.
Someone pays you .5 bitcoins for a backlink blast. (about 100 bucks this morning).
Imagine if they paid you .1 bitcoins for the same service in 6 months? (pure speculation)
Imagine if they paid you 10 bitcoins 6 months ago.
Get it?
You can't chargeback a bitcoin.
If you tumble it correctly, no one will ever know where it went.
If I'm wrong, sell it when the price starts to go down. A savvy investor will ride out the waves.
If you have the bank roll to invest in bitcoin, go for it. But expect a very rocky road to 10,000 USD per bitcoin