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Old 09-03-2020, 02:32 PM   #1
snowmagician
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Question Is BitTorrent coinc BTT worth mining?


It is not illegal. The question is is it worth the investment

Anyone who wants can earn BTT coins by doing this

1 > Download and install a torrent client also capable of collecting BTT coins

2 > Simply download a few .ISO of popular latest Linux distros

3 > Leave your bittorrent client on. There is nothing else that must be done.


But is it worth the investment. A quick websearch tells me its all-time high was 0.001USD, currently it is 0.00047USD ( around 50% of its all time high )

Majority of all coins available out there, are currently priced around 50% of its all time high at the moment.

I tried collecting coins, for the past a couple of weeks, but I admittedly did not collect any significant amount of BTT coins

Last edited by snowmagician; 09-03-2020 at 02:34 PM.
 
Old 09-03-2020, 03:13 PM   #2
sevendogsbsd
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By BTT I assume you mean Bitcoin? 1 bitcoin is currently worth 10k US $ and the electricity required to generate (mine) them I think outweighs the return but I have never done it so can't speak to it much beyond what I read a couple of years ago. I have read that mining them is incredibly expensive so not sure what the point is...
 
Old 09-03-2020, 03:48 PM   #3
boughtonp
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Quote:
Originally Posted by sevendogsbsd View Post
By BTT I assume you mean Bitcoin?
I assume they mean yet another Bitcoin competitor, and a search for btt coin confirms that "BitTorrent Token" is a thing.

From a very quick glance it looks more like it might be a way to prove you're seeding, and then pay for faster download speeds, rather than the investment/goldrush side.

Given that the supported clients appear to be proprietary Windows software, it wouldn't surprise me if it wasn't a scam - without the source there's no proof it doesn't spend a few CPU cycles mining BTT and the rest mining Bitcoin for the software's authors (which as pointed out, on any general purpose computer will cost more in electricity than it returns).

 
Old 09-04-2020, 08:52 AM   #4
sevendogsbsd
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Yeah, there are a ton of bitcoin mining javascript apps out on the web that are considered malware because they are leveraging your machine to mine without your consent. Something proprietary like this I would never trust, based on the fact it's an area where a lot of malware is prevalent.
 
Old 09-09-2020, 10:29 AM   #5
An Infamous Historian
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Bitcoin ought to be illegal because it's an environmental disaster.

That aside, it's conceptually rooted in pure economic illiteracy, which is why only rubes fall for it. Its backers tout it as being a "deflationary currency," as though that's a good thing--when in fact all it does is encourage hoarding, which is the opposite of what you want with a currency. So its deflationary nature makes it more useful as an investment vehicle than as a currency. In fact, it actively hinders its use as a currency, which distinguishes Bitcoin from the other real currencies that are also used as an investment currency. FOREX investments are backed up by the fact that you're investing in currencies that are in heavy use, which gives them some source of tangible value. But Bitcoin isn't (and because it's deflationary, it's not likely to), which means the only thing propping up its value is hype and FOMO. That, of course, is nothing more than a bubble, and bubbles will burst eventually.
 
Old 09-09-2020, 11:09 AM   #6
sevendogsbsd
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Agree completely! I would never consider investing in something that is completely intangible with zero backing.
 
  


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