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+--- Thread: please help with a couple of bitcoin questions!? (/thread-159183.html)
please help with a couple of bitcoin questions!? - Linda - 05-25-2014 01:51 AM
so my it friends rave about bitcoin and its perks. Just a couple of questions i want to ask.
1. If i have certain amount of bitcoins can i sell them for real cash?
2. How does one go about mining bit coins, e.g what program
and also just other information that are not being told through general articles
thanks
- Shalom - 05-25-2014 02:04 AM
Bitcoin mining is very hard and should be only done for fun not for money.
I recently watched this video on the understanding behind bit-coin mining.
Link - http://www.youtube.com/watch?v=Vsp6dlTF2ak
- Jack - 05-25-2014 02:10 AM
1. You can sell bitcoins to other people via bitcoin exchange networks or local exchange sites. You can't just withdraw them directly to your bank account unless you live in the U.S. and have a coinbase.com account. But I think this will change in the near future. Of course, your government can forbid bitcoins just like China did. In such case you are out off luck
2. Mining is difficult nowadays. You need very expensive mining computers, usually called rigs. At the current bitcoin price it's profitable but I'm sure you noticed how dramatically prices can change. One day you can get $800 for one bitcoin and after a month the same bitcoin could be worth like $100 and that's normal in the world of bitcoins