Recently I purchased a Dell Poweredge 2950 server as a file server for my business. I compared prices from many sites online but ended up buying it from a local person on Craigslist. The company had gone out of business and was selling the server equipment that they had. The server specs are:
5100 Series Dual Core Processor
4GB of DDR2 Memory (8 x 512MB)
5x 1.5TB Drives
I decided that I would use FreeNAS and ZFS on this server.
MineField is a strategy/luck game that you can play with Bitcoin. You start by visiting the site and your login will be created and stored in the URL. This means that if you want to return to your account you need to bookmark the URL and not give it out to anyone else. Then you will be given a wallet address once you click on the balance box at the top of the page in which you can send Bitcoins to. If you don’t want to deposit Bitcoins at first they have a free option which you can play also.
How the game works is you select the amount you want to bet and then use the slider under the game to choice your difficulty. The more difficult you make the game, the more you could win as the difficult has a multiplier associated with it. This can be a fun way to use your Bitcoins but could also be a way to make some good money.
The website can be found here.
Recently I started investing in Bitcoin and I came across unexpected fees that I wasn’t counting on when I started. I will cover these fees so that others will be aware of what costs are involved when you want to start investing in Bitcoin. The bitcoin exchange that I decided to use was MtGox because of the popularity.
The first fee that I came across was getting money into Paxum. Paxum is one of the few companies that you can use to get US Dollars into Bitcoin. With Paxum you have a few different options to get money to them such as via credit card transaction or a wire transfer. I decided to go with a credit card transaction because the fees were lower than the alternatives. Based on the amount you want to charge to your credit card they will charge a flat fee but also a small percentage.
The second fee that I ran into was once I transferred the money to MtGox. MtGox charges a small fee to get your money into the exchange. As far as a I know this fee can’t be avoided but it supports the exchange.
The third fee is charged every time you sell Bitcoins. This fee depends on how many transactions you have made in the past 30 days and this will decrease as you make more transactions. This starts at .63% and you can find a Fees Table on the bottom of the MtGox website.
The final fee that you will encounter is when you try to remove your money from the MtGox exchange and turn it back into money that you can use. Depending on how you decide to withdrawal the money your fees will change.
Overall the fees involved in Bitcoin Investing are something that you should be aware of but they are not necessarily a deal breaker.