So this story about a guy that got conned by a shady dude operating an "Australian Based Bitcoin Exchange" made it to mainstream media. - Yes It's CryptoXChange the company that collapsed/cashed in/shutdown late last yearhttp://www.abc.net.au/news/2013-04-...in-boom/4616992
TL:DR guy figures out he's been scammed months after the company runs with his bitcoins and involves the media.
Best quote from Leo Treasure (Victim) - "I trusted him because he had an Australian Company Number, I thought he was legit".
Has anyone got any?
No - it seems like a revolutionary idea ...but everything screams gimmicky ponzi to me.
There is a large following of Bitcoiners on Reddit and Something awful … I know SA has 3 massive threads on alone on it.http://forums.somethingawful.com/showth … id=3537995http://www.reddit.com/r/Bitcoin/
Seems bitcoin prices have gone through the fucking roof atm and I'm hearing some people yelling 'sell,sell' while you still can.
I admit I don't understand the full process but mining bitcoins goes something like this -
1. Get software and run on your computer.
2. Computer goes into overload and 'mines' bitcoins. make sure to setup your mining setup so that you can do something with all that extra heat - ie. heating your large home, dehyrdating fruit, drying your clothes.http://siliconangle.com/blog/2011/11/22 … ining-rig/
3. Profit - congrats you just mined a bitcoin worth x amount of whatever conversion rate is.
4. Cost - Congrats your energy provider sends you an energy bill that makes your eyes water and your overtime hours soar.
People who are into 'serious' bitcoin mining have specialised rigs dedicated to it -