View Full Version : Bitcoin mining pool referral

07-13-2011, 09:01 PM
This is my referral for a bit coin mining pool.

If you want to earn some money to upgrade your rig, this is one option.


07-24-2011, 11:34 PM
WTF exactly is this thing??

07-25-2011, 06:23 AM
Bitcoins are an electronic currency. Currently the vast majority of hard currency pumped through the system is actually illegal funds, as criminals (scammers, phishers, etc) can wash real money into the system for pretend money (bitcoins), and then withdraw real money from the same system without any checks, balances, or accounting (bitcoins are made to be anonymous and untrackable).

Basically put, 99% of the bitcoin operation is money laundering.

Bitcoin mining is the process of helping the system generate more bitcoins. You can actually get paid to do so, but be aware that the money you see was - far more likely than not - stolen at some point.

I remember reading about bitcoins and laughing at the naievety some people have, thinking that an untraceable currency you can buy and sell would not turn immediately into a laundering operation for the various e-mobs, who literally make billions of dollars a year that they convert to hard currency at a loss of about 40+% using conventional methods. Even if they lose 20% to this process it's still a huge gain to them... hundreds of millions. It does pump money into the "economy" of bitcoins, but ultimately I suspect that being based on criminal activity is going to result in bitcoins enjoying a relatively short life, though their hard currency value may increase substantially before the whole thing collapses.

Non-criminal uses of the system include:
- Being paid to generate bitcoins (read: being paid to support a criminal underworld)
- Using bitcoins like coupons at some stores (seriously, that's about it... you get like 10-20% off a purchase, and 20% off is very generous... it's really just a glorified coupon).

07-26-2011, 11:20 AM
Eh... Its only illegal because the government said its illegal.
I have no problem with money laundering.