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Could you elaborate on what he does and how it all works out? Sounds pretty fascinating, does he use Mt Gox or something else to convert to more recognized fiat
by shii 15y ago
Could you elaborate on what he does and how it all works out? Sounds pretty fascinating, does he use Mt Gox or something else to convert to more recognized fiats?
Does he (and you) have a backup plan in case things don't work out as planned with Bitcoin?
- mike_esspe 15y agoMining pool (http://deepbit.net http://deepbit.net). Yes, mtgox for now, though i hope that in a year or two i will be able to pay my rent with it directly :) Currently the growth is exponential, so it takes time to scale it. For me it's a side project, though it's becoming a large part of my income. If bitcoins fail - no big deal, just move on.
- grondilu 15y agoI would definitely not be willing to pay my rent directly in bitcoins. It is much more interesting to pay in silly worthless fiat governmental currency.
- mike_esspe 15y agoCurrently to pay it i have to convert bitcoins to fiat currency (and lose around 2% in the process). I'd like to be able to skip this part.