Bitcoins: The Future?

[AgAuMoney]

Are you doing this mining under Windows?

Any experience out there to know if Linux is a reasonable alternative?

Is there any other productive use to do with these video cards other than mining?  (Not a gamer.)

I did mining back in the days before GPU mining and scored a few bitcoins.  It is incredible how much more difficult it is now.  I keep my bitcoins in a few different wallets, none of them regularly online.

I keep several computers on 24x7, so as long as I can do mining under Linux the video card power is really my only incremental cost.  (It appears to use less CPU now than when I last mined.)  But even that is does not make it worthwhile to justify the purchase of the video card(s)...

[Storm]

Are you doing this mining under Windows?

Any experience out there to know if Linux is a reasonable alternative?

Is there any other productive use to do with these video cards other than mining?  (Not a gamer.)

I did mining back in the days before GPU mining and scored a few bitcoins.  It is incredible how much more difficult it is now.  I keep my bitcoins in a few different wallets, none of them regularly online.

I keep several computers on 24x7, so as long as I can do mining under Linux the video card power is really my only incremental cost.  (It appears to use less CPU now than when I last mined.)  But even that is does not make it worthwhile to justify the purchase of the video card(s)...

I think the only other use for graphics cards (besides gaming) is running something like Folding@home or SETI.  You can definitely mine on Linux.

If you are already running your computer 24x7, an ATI Radeon 5850 graphics card will cost around $115, and generate around 350 Mhash/s using 180 watts of electricity.  If your electricity costs are 15 cents per kilowatt you will break even after 103 days.

At current rates, you will be making $1.88 USD worth of Bitcoins per day, and your power costs will be $0.65.  Your profit will be $1.24 per day.

[MachineGhost]

Bitcoin may have just gotten an upgrade.

Bitcoin Gavin Andresen announced today on the Bitcoin Talk forums that he has launched a non-profit, modeled on the Linux Foundation, that will seek to “help people exchange resources and ideas [about Bitcoin] more freely.”?

http://tinyurl.com/8l89dgq

[MachineGhost]

Bitcoin Non-Technical FAQ

http://blog.oleganza.com/post/327259874 ... hnical-faq

[MachineGhost]

This is really, really interesting.  Its the Bitcoin stock exchange with stocks, bonds and options.  Even prospectuses for the IPOs.  Wall Street must be rolling in its grave.  Check out S.DICE which looks to be a casino operation.

http://polimedia.us/bitcoin/mpex.php

[MachineGhost]

3 Years in, Bitcoin Digital Money Gains Momentum

The digital currency exchange network now includes more than 1,000 merchants and at least tens of thousands of unaffiliated users, as it tries to solve barriers to participation

https://www.scientificamerican.com/arti ... s-momentum

[dualstow]

If Bitcoins ever catches on seriously the governments will conspire to shut it all down, sadly.

This economist agrees with Craig.

October 15, 2013

Governments and established financial institutions are likely to launch a campaign to quash the decentralized digital currency Bitcoin, according to a leading economist and academic. Simon Johnson, a professor of entrepreneurship at MIT’s Sloan School of Management, expects Bitcoin to face political pressure and aggressive lobbying from big banks because of its disruptive nature, MIT Technology Review reports.

http://www.kurzweilai.net/a-bitcoin-backlash

[Libertarian666]

If Bitcoins ever catches on seriously the governments will conspire to shut it all down, sadly.

This economist agrees with Craig.

October 15, 2013

Governments and established financial institutions are likely to launch a campaign to quash the decentralized digital currency Bitcoin, according to a leading economist and academic. Simon Johnson, a professor of entrepreneurship at MIT’s Sloan School of Management, expects Bitcoin to face political pressure and aggressive lobbying from big banks because of its disruptive nature, MIT Technology Review reports.

http://www.kurzweilai.net/a-bitcoin-backlash

I'm shocked, of course.

[vtc]

Harry Browne didn't see this one coming.

It bitcoin succeeds, gold might fall down to its intrinsic value of just a couple hundred dollars / oz.  I'm not sure on how this will impact short term treasures, bonds, and stocks but it doesn't sound good. 

I have a few hundred bitcoins in my speculate portfolio and so far its working out great.  I hold the bulk of them all in my head using a brainwallet.  No need to worry about a virus stealing my bitcoins, or a corrupt hard drive and losing your wallet.  I can travel across international borders without any evidence of me having them in my possession.  And it fairly easy in most countries to find others that want to buy your bitcoin if you need fiat for regulate transaction, either at exchange spot price, or even can charge them a premium to buy from you.

[Libertarian666]

Harry Browne didn't see this one coming.

It bitcoin succeeds, gold might fall down to its intrinsic value of just a couple hundred dollars / oz.  I'm not sure on how this will impact short term treasures, bonds, and stocks but it doesn't sound good. 

I have a few hundred bitcoins in my speculate portfolio and so far its working out great.  I hold the bulk of them all in my head using a brainwallet.  No need to worry about a virus stealing my bitcoins, or a corrupt hard drive and losing your wallet.  I can travel across international borders without any evidence of me having them in my possession.  And it fairly easy in most countries to find others that want to buy your bitcoin if you need fiat for regulate transaction, either at exchange spot price, or even can charge them a premium to buy from you.

Harry Browne didn't see Beanie Babies coming either. And at least with those, you get a toy.

[Kshartle]

Harry Browne didn't see this one coming.

It bitcoin succeeds, gold might fall down to its intrinsic value of just a couple hundred dollars / oz.  I'm not sure on how this will impact short term treasures, bonds, and stocks but it doesn't sound good. 

If bitcoin succeeds it will be because humans prefer it as money. They will prefer it because it's superior. It will make costs lower. This should be fantastic for stocks as far as I can tell. It will be bad for the dollar because people won't want to use it as much. Stocks seem pretty negatively correlated with the dollar right?

Why do you think Gold's intrinsic value is just a couple hundred bucks? There are many here who argue it has no intrisic value whatsoever.