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Another way to help fund S4GRU...

SpenceSouth

By SpenceSouth
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SpenceSouth Member Level: 4G WiMax

SpenceSouth

Posted
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Hey so I was wondering if we might want to look into setting up a bitcoin mining pool with the proceeds going to S4GRU.  I don't know anything about S4GRU financials but I'd imagine that at this point we are getting fairly saturated with Sponsors and we all would like to keep the site running.

With the amount of dedicated users on this forum, between our spare GPU/CPU cycles, we could probably contribute a nice chunk of change to S4GRU.  

Thoughts?

(P.S. If this has already been covered I tried the search menu, but it didn't pull any results for me)

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richy Member Level: 3G EVDO

richy

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Posted

It's a possibility but the reality with bitcoin mining is that the increased power costs often more than negate the revenue. This varies from state to state (with the differing power costs) and also with the value of a bit coin. Most farmers are switching to using asics for an added jump in performance which given the nature of how the mining works leaves cpu|gpu miners in an even worse position. 

 

The concept of bit coins is extremely interesting but it is most definitely going through a rapid evolution, between government action, technological developments and theft it is a high risk endeavor, but there are rewards for some out there. You just have to be very eyes open about it and educate yourselves, a lot of people make a net loss. Unfortunately power costs are insane here, even an asic rig would barely break even :( The states with a superabundance of power may have more luck though!

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  • 1 month later...
S4GRU Member Level: LTE Advanced

S4GRU

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We will not use Bitcoin. It's also associated with some pretty shady organizations/criminals and more likely to get us investigated or on some watch list. ;)

 

Robert via Samsung Note 8.0 using Tapatalk Pro

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  • 7 months later...
irev210 Member Level: 4G WiMax

irev210

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We will not use Bitcoin. It's also associated with some pretty shady organizations/criminals and more likely to get us investigated or on some watch list. ;)

 

Robert via Samsung Note 8.0 using Tapatalk Pro

 

 

I am hoping you will reconsider this.  Considering major vendors like Dell, Newegg, Overstock, etc etc etc all accept bitcoin I think you can take comfort with what it is doing.

 

US Dollars (and every other major currency) is associated with some pretty shady organizations/criminals.  At least with bitcoin you are not enriching paypal/mastercard/visa.

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S4GRU Member Level: LTE Advanced

S4GRU

Posted
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I am hoping you will reconsider this.  Considering major vendors like Dell, Newegg, Overstock, etc etc etc all accept bitcoin I think you can take comfort with what it is doing.

 

US Dollars (and every other major currency) is associated with some pretty shady organizations/criminals.  At least with bitcoin you are not enriching paypal/mastercard/visa.

 

Based on Bitcoin exchange problems and losses of money some have encountered, I still don't think I'm willing to risk it at this time.  And frankly, I'm not even sure I get the whole thing.

 

Robert

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Yuhfhrh Member Level: eHRPD

Yuhfhrh

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Based on Bitcoin exchange problems and losses of money some have encountered, I still don't think I'm willing to risk it at this time.  And frankly, I'm not even sure I get the whole thing.

 

Robert

 

I think its fairly easy to set up an account with Coinbase or Bitpay. They will take bitcoin and convert it to USD for you immediately, so you never have to even touch bitcoin. That's what Dell, Newegg, etc use.

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S4GRU Member Level: LTE Advanced

S4GRU

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I think its fairly easy to set up an account with Coinbase or Bitpay. They will take bitcoin and convert it to USD for you immediately, so you never have to even touch bitcoin. That's what Dell, Newegg, etc use.

I'll look into those and see if that will work for us.

 

Robert via Samsung Note 8.0 using Tapatalk Pro

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mc_gusto Member Level: 4G WiMax

mc_gusto

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If you could somehow accept google play credit I have some giftcards that I can transfer over to you guys. I know someone who set up a app placeholder just to accept credit payments.

Alot of Android users also answer those google surveys for credits. So I must not be the only one who has unused google play credits that can be donated.

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  • 8 months later...
Arysyn Member Level: 4G LTE

Arysyn

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Google Wallet might be a good alternative for those who don't want to use PayPal.

 

Personally, I'm skeptical of bitcoin, despite others having recommended it to me as a way to make money.

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