They are backed by the biggest military and economy in the world. I would say that's "something". Sorry to interject reason in to this discussion but it's what I do.
I know, seriously. All these sheep don't even realize that their dollars aren't actually backed with anything. They are utterly worthless except for what other greater fools are willing to pay for them.
I'm not sure what your point is. You can do all the hand-waving you want, it doesn't change the fact that the price of gas at the pump is highly unstable and increases and decreases weekly. I don't care WHY you think it isn't stable, the fact is it isn't stable. Your super awesome USD currency isn't keeping gas prices stable, so there goes your whole argument about USD keeping prices stable.
I know, seriously. All these sheep don't even realize that their dollars aren't actually backed with anything. They are utterly worthless except for what other greater fools are willing to pay for them.
you think that inflation is *just* monetary inflation yet fail to recognize that there are other types of inflation caused by any number of variables other than monetary ones.
They are backed by the biggest military and economy in the world. I would say that's "something". Sorry to interject reason in to this discussion but it's what I do.
This thread inspired me, after researching bit coins I decided to spend my savings on 100 bit coins. I get an extra life now, right?
I'm fairly certain you were being sarcastic. Thats too bad, because you would be about $30,000 richer if you actually did that.
100 bitcoins cost $120 each back in May, when you made your post, or $12,000. No small chunk of change.
Today those 100 bitcoins are worth $43,200.
This is kinda fun. I hope this thread is still around in 10 years, when a single bitcoin is worth more than an average house.
I think if bitcoins do cross $1,000 (which is wild, especially since I never successfully procured any at the price of $89 when it first crashed), they may have to create bitcoin "bits".
I'm fairly certain you were being sarcastic. Thats too bad, because you would be about $30,000 richer if you actually did that.
100 bitcoins cost $120 each back in May, when you made your post, or $12,000. No small chunk of change.
Today those 100 bitcoins are worth $43,200.
This is kinda fun. I hope this thread is still around in 10 years, when a single bitcoin is worth more than an average house.
I did a quick read of it, but basically it's a decentralized currency and... why does a client take half a day to synchronize with the network? If I had to wait a day to look at my checking account... also how the heck does mining work? Do you have to join a team who is likely to jack your stuff or what?
Damn, thanks. Sounds like it's going to collapse on itself as far as mining goes because even a server farm with ASIC's will be inadequate pretty soon. As a virtual currency though, it might have some use.Once youre caught up you dont have to wait that long anymore. Youre catching up on every transaction that has taken place up until now. Once you catch up, its only slightly delayed.
You dont have to join a team to mine, and as far as Im aware no mining team has ever "jacked" any coins. THey could refuse to pay out I suppose, but taking what you already have would be impossible for them. Reputable pools are reliable.
You CAN mine by yourself, but it's basically like playing the lottery, you'll spend electricity and your GPU's power mining just HOPING you hit a block. IF you do, you'll get 50 BTC and of course right now that's worth near 10 grand, but you'd have to be incredibly lucky to do so.
Having said that, the days of mining with a home rig are basically over. Difficulty is too high. Even with a pool, the payouts just arent worth it.
Damn, thanks. Sounds like it's going to collapse on itself as far as mining goes because even a server farm with ASIC's will be inadequate pretty soon. As a virtual currency though, it might have some use.
That's interesting, well I'd rather have my computer hit the lottery than fill out paper every time only to see it's a loser. Is there anything to lose by just letting it run?Never know though really. I never would have thought that one BTC would be worth $450. I sold 10 coins for like $8 each cause I thought that's as high as we'd ever see them. I have .4 BTC leftover from like 2 years ago. Seeing it worth $200 is fascinating. I'm kicking myself for not mining more and holding onto them. I mined with my 5850 and had an additional 5830 for a week or so, I got rid of that because I didnt like the temps in my case. Just for using my existing hardware and a cheap $90 (at the time) card, I could have made 4 grand by holding on to them :-/
They could crash, sure, but there are also some pretty smart people who really think a single bitcoin will be worth a TON of money someday. Who knows. It may end up being worth it to mine with the new ASIC rigs, but it's a gamble.
My thoughts were always, well, I like AMD cards anyway, and I'll always have on in my rig, so may as well at least try since I already am going to own the hardware. I personally wouldnt put money into an ASIC rig but that's just me, I cant afford the risk.
That's interesting, well I'd rather have my computer hit the lottery than fill out paper every time only to see it's a loser. Is there anything to lose by just letting it run?
That's interesting, well I'd rather have my computer hit the lottery than fill out paper every time only to see it's a loser. Is there anything to lose by just letting it run?
Dang, I wouldn't want my already iffy 7850 to crap out. Is it possible to seamlessly switch between the GPU and CPU (at the expense of computing but just to keep it running)?
Never know though really. I never would have thought that one BTC would be worth $450. I sold 10 coins for like $8 each cause I thought that's as high as we'd ever see them. I have .4 BTC leftover from like 2 years ago. Seeing it worth $200 is fascinating. I'm kicking myself for not mining more and holding onto them. I mined with my 5850 and had an additional 5830 for a week or so, I got rid of that because I didnt like the temps in my case. Just for using my existing hardware and a cheap $90 (at the time) card, I could have made 4 grand by holding on to them :-/
They could crash, sure, but there are also some pretty smart people who really think a single bitcoin will be worth a TON of money someday. Who knows. It may end up being worth it to mine with the new ASIC rigs, but it's a gamble.
My thoughts were always, well, I like AMD cards anyway, and I'll always have on in my rig, so may as well at least try since I already am going to own the hardware. I personally wouldnt put money into an ASIC rig but that's just me, I cant afford the risk.
Your 10 bitcoins would be worth $6000 today!
how quickly can you turn this into usable cash?
hey guys will my old radeon 5450's be able to mine this stuff or is it way to slow?