Explain me

Bitcoins. Ive been seeing this all over /g/ about how people are mining/buying these things, and selling them for actual monetary gain. But Im quite confused about this whole deal. From what I understand from reading the website and parts of the wiki is his:

Run program that apparently aimlessly brute forces hashes all day.
Once one gets computered, 50 bitcoins are given.
These bitcoins are stored in a file on your computer (?)
You can than either use these coins as currency on some sketchy geosite looking online stores, or sell them for money through paypal or something.
Repeat for monies.

As a firm believer of "If it seems to be too good to be true, it is" I wonder exactly how this is supposed to work. I leave my computer on 24/7 and if you mean to tell me I can set it to mindlessly do math problems during the night to generate fake currency that can be sold for real money, then by all means Ill get to work on it now. I just have a feeling Im missing something.

This is almost like PTC websites, at least PTC works for me.

Originally Posted by Jigsaw

This is almost like PTC websites, at least PTC works for me.

I believe its a little different than that though.

And after moar lurking I think Ive figured something else out too. There is some kind of stock market thing going on where bitcoins are worth more at times and less at others. So getting some and selling them while its high would mean you could make a decent gain off of this?

I think I understand how it works, but like I said, if it seems too good to be true, it is.

i do not understand this

what are you talking about i dont understand this

I've heard of PTC, but what's bitcoin?
Anyway, you try it.

What are bitcoins?

The thing I explained in the OP pretty much explains what bitcoins are. I was just as confused after trying to research it and thats what I came up with.

Well if you suspect this is a lot easier way to get money, don't go for it.
Like some PTC scammers, they just want a chance to the some members invest their real money on the website, thinking they will multiple after some time participating on the website.
Also, have how to these members invest real money on this?

I will check it out.

Originally Posted by Jigsaw

Well if you suspect this is a lot easier way to get money, don't go for it.
Like some PTC scammers, they just want a chance to the some members invest their real money on the website, thinking they will multiple after some time participating on the website.
Also, have how to these members invest real money on this?

I will check it out.

From what I am seeing, no money needs to be invested at all. It just takes ages to actually mine bticoins. You can buy them however, and then play a game kind of like stock market, where when the value goes up, you sell, and when it goes down, you buy.

Pretty much I can set my comp to mine coins by solving math problems, and then sell them through paypal. Or I could just buy them through paypal, and then sell them for profit.

Originally Posted by Heartview

From what I am seeing, no money needs to be invested at all. It just takes ages to actually mine bticoins. You can buy them however, and then play a game kind of like stock market, where when the value goes up, you sell, and when it goes down, you buy.

Pretty much I can set my comp to mine coins by solving math problems, and then sell them through paypal. Or I could just buy them through paypal, and then sell them for profit.

Checked here, and really no need to invest money or something forced to you do, looks like legit, and since 2009 they're working well... I'm giving a try right now.

It's a trap!

What, exactly, do I do to get this? I just installed it and I'm curious as to how this works.

Originally Posted by J Miliam

What, exactly, do I do to get this? I just installed it and I'm curious as to how this works.

Check their website, is better than us trying to explain.

Originally Posted by Jigsaw

Check their website, is better than us trying to explain.

On the program it has no thing saying generate bitcoins

Explain me

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