Bitcoins and Other Crypto-currencies

Winckle wrote:
Grumpy David wrote:Winckle said I was buying "libertarian moron bucks" back in March.

Those moron bucks have earned me a fair bit since then.

Starjo wrote:85% of it's value lost in a week.

Who would have thought that magical Libertarian beanie babies being mined out of imaginary money mines would be so unstable?

Merry Falsemas wrote:http://bitcoincharts.com/charts/mtgoxUSD#rg10ztgMzm1g10zm2g25zv

cool currency - where can I buy some?

Haven't seen anyone be that owned in a while.

If he's cashed out on a high, you'll look terribly stupid.

If he did cash out on a high it would still essentially be getting rich by stealing lunch money from a special school. Playing the imbecile market isn't worth it - even if you win, you'll still look like a moron.

Yeah, you're right, I'm just bitter because I poured all my savings into Runescape gold.

Might as well start investing in an eve ship.

With the inflation in New Eden? No that's a bad investment.

Little Donkey wrote:If he's cashed out on a high, you'll look terribly stupid.

Remind me of all those other people who've managed to successfully cash out bitcoins

You can buy Ouya games with Bitcoins.

:slol:

Cashed out original investment and then some. 8-)

No loss suffered whatsoever. Even to sell with 85% loss from peak would be pure profit, though only mugs sell when down. I'm in it for the long run.

Got my Vanguard lifestrategy stock & shares ISA running alongside it for actual investing too.

The Ouya is still going? Woah.

Meep wrote:Yeah, I was thinking about that after seeing that ridiculous graphic card rig. Surely if we are going to use a virtual currency there are methods of doing it that don't require wasting massive amounts of fuel solving meaningless equations. Not very environmentally friendly.

Would have been good if they combined it with one of those cancer research tools that they ask people to run in the background of their PC, or any other worthwhile task that involves significant computations. I'd love to see some comparisons as to how much power/how many computations have gone in to mining Bitcoin versus something like World Community Grid.

You can have it run in the background there are loads of programs that so just that using cpu or gpu to mine but in a normal pc.

The rigs are just the next step if you want alot higher yields out because the hardware is asic device, they look like graphics cards but arnt they cant do any graphic card work they just crunch these numbers to get through as many hashes a second as possible.

PostRe: Bitcoins and Other Crypto-currencies by GM » Tue Dec 10, 2013 3:37 pm

'Running in the background' is a great way to burn out your CPU/graphics card. Mining pools and ASIC rigs have destroyed the ability to mine on normal machines, you'll pay more in electricity than you'll get back in libertarian FunBucks.

Unless you want a really expensive, silicon based heater this winter.

You won't process information any more efficiently by doing it in the 'background'. The tiny yields produced by doing on your ordinary PC probably mean it's not worth the cost. A cycle is a cycle.

Invest in "Dogecoins". Memes ftw

PostRe: Bitcoins and Other Crypto-currencies by GM » Thu Dec 12, 2013 1:28 am

Meep wrote:You won't process information any more efficiently by doing it in the 'background'. The tiny yields produced by doing on your ordinary PC probably mean it's not worth the cost. A cycle is a cycle.

If that was at me, I wasn't trying to imply it was. I meant that mining 'in the background' is destroying your components just as much as it would be otherwise, they're still getting used (largely at full throttle) more than any normal use case.

It's all moot anyway because anyone starting now is more likely to eat their graphics cards than mine bit/butt/lite/doge/cosbycoins with them.

And apparently Americans can now include Bitcoin in their retirement funds. Genius, when their customers kill themselves they won't have to pay a dime.

Bitcoins are now trading around the $700 mark -roughly 40% down from where they were two weeks ago and the same price as a month ago. I think they will either stabilise between $600-800 or the price will drop significantly to a few hundred dollars.

Website

During the hype 3-4 weeks ago Litecoin was about £35 per coin. Currently down to £14.

It was obviously going to go down for Xmas as everyone needs money and cashes out. It will shoot up again in a few weeks.

Bitcoins and Other Crypto-currencies

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