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I Tried LiteCoin Mining...Wasn't Very Good At It

Earn Crypto Currency Doing Stupid Pet Tricks – Free Bitcoin Litecoin Doge Alt Cryptocurrency (via Real Liberty Media)

http://www.earncrypto.com/index.php?r=HardrockNminer Are you willing to do stupid pet tricks? If so you might be willing to put up with spam, ugly cartoons, terrible rap videos, silly games, and just general crap. But if you are, you can rack up crypto…

 



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EarnCrypto Scam?

So mining on a laptop seems like a lost cause......but do NOT trust the EarnCrypto. I used that as a comparison to mining, but if you go to the facebook page (after clicking contact) you will see many people that were scammed and have not received payment.
Lesson in life, nothing is free. Not time, not energy, not mining, not generating crap/spam. It all comes with a price.

So until EarnCrypto pays the people, assume they are a scam. Don't confuse this with mining. But based on their business model, they just take the money and run. And then hide behind a Facebook Account?

Be Your Own Media!!!

Something I just found out...

Something I just found out... If you're a miner and you convert bitcoins YOU mined into FRNs, you are a money transmitter and you must be registered with FinCEN, and you are legally required to report all kinds of information which I am quite certain most miners are not prepared or willing to report: http://www.coindesk.com/bitcoin-law-what-us-businesses-need-...

Free men aren't legally

Free men aren't legally required to do jack!

________________________________________

TwelveOhOne's picture

FinCEN said private mining is not money transmitting

http://www.coindesk.com/fincen-bitcoin-miners-need-not-regis...

From the letter FinCEN sent:

“In undertaking such a conversion transaction, the user is not acting as an exchanger, notwithstanding the fact that the user is accepting a real currency or another convertible virtual currency and transmitting Bitcoin, so long as the user is undertaking the transaction solely for the user’s own purposes and not as a business service performed for the benefit of another. A user’s conversion of Bitcoin into a real currency or another convertible virtual currency, therefore, does not in and of itself make the user a money transmitter.”

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Good news, although it's as

Good news, although it's as if the "rules" are changed on a daily basis. I guess anyone operating on the leading edge has to be prepared for anything. Who knows what these people will say is "legal" tomorrow?

I was initially intrigued by the mining but too paranoid now...

...I'm sure someone can keep track of any bitcoins you mine and there you are on some blacklist somewhere at the NSA.

And how much money on electricity will you spend mining?

Too many unknowns and too easy for someone to know what you're doing in my book.

I tell everyone to never even buy precious metals online, so naturally I'm pretty skeptical about all this.

But that's just me.

I realize also that I'm possibly missing out on quite an opportunity.

"We have allowed our nation to be over-taxed, over-regulated, and overrun by bureaucrats. The founders would be ashamed of us for what we are putting up with."
-Ron Paul

If youre not doing anything

If youre not doing anything wrong you have no reason to be paranoid.
If they got you thinking that much, you need to find some sun.

Be Your Own Media!!!

Doing "anything wrong" is

Doing "anything wrong" is all a rapidly shifting series of fuzzy questions, isn't it?

be free in your mind my

be free in your mind my friend. You know morality in there. I hope. We are on the DP...there is a reason for this.

Be Your Own Media!!!

ASIC MINERS for LITECOIN coming soon

http://www.coindesk.com/asic-miners-litecoin-soon/

Maybe I'll think about it again...

Be Your Own Media!!!

CoinDesk is such a good

CoinDesk is such a good source of info.

http://www.earncrypto.com/ind

http://www.earncrypto.com/index.php?r=9623

Yah I tried mining Litecoin and Doge Coins. My laptop just got hot. I guess I'm not cut out for mining. I mean I tried it, got kind of excited until I realized this would take like years to earn 1 Litecoin. I tried this and was able to do stupid pet tricks faster.

So another lesson in life. There is nothing free.

I think my plan is to buy $1,000 of Litecoin in the beginning of 2014 and see where it goes from there. I'll stay out of the USD and away from Wall Street cause the SEC and the Fed cannot be trusted. Stupid pet tricks? Beats my laptop!

Be Your Own Media!!!