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How will Bitcoin get over its expected massive deflation, once everyone people start using it for real. | This is being predicted by people all over that claim the lack of knowledge basic economic concepts from Bitcoin creatros. Past experience by some economic systems have shown that massive deflation will cause people to loose the incentive to spend money, freezing its economy to a complete stop. This happens due to the fact that bitcoins will be limited to 21M units. Just as money was backed by a limited ammount of gold in federal reserves, critics have a good point expressing this type of economy is doomed to fail.
Can anyone point out how this can be avoided in the bitcoin system? Woudl it be possible to implement some type of mechanism to prevent massive deflation in the protocol? What's your take on this?
EDIT 1: This is a good point > https://en.bitcoin.it/w/index.php?title=Deflationary_spiral&oldid=8439
EDIT 2: I have a good feeling Bitcoin will work out as currency. I am not sure if it will ever replace fiat currencies across the globe -- or for any government. But it definitely has the potential to become a powerful trade currency for the online activities of all sorts. | That view is not universal. [The Fallacy of Deflation](http://furrybrowndog.wordpress.com/2011/01/06/austrian-economics-and-the-fallacy-of-deflation/) | Bitcoin |
Mining Hardware: 5970 vs 6990?? | It seems as though most builds describe include 6 series hardware. Is there any advantage to the 6990 over the 5970? I don't see why miners would pay $200+ for the 6990 when it seems to be less efficient as a miner. | afaik, it had to do with how easy it is to actually obtain. the 6990 may be more expensive, but you can actually find one without relying on second hand. | Bitcoin |
Total Bitcoin Newbie Here - Had a couple of questions I couldn't find the answer to searching online - Help? | 1) Is it pointless for me to have the "Generate Coins" box selected on my bitcoin client? My naive understanding is that the client is attempting to solve for a 50BC block, the chances of which are akin to winning the lottery. Is this correct?
2) Is getting hooked up with Mt. Red the most efficient way for me to get involved or started with mining?
3) I feel stupid asking this one - but is the "Your Bitcoin Address" that is displayed prominently in the bitcoin client the public address that I should be sharing for transactions?
| 3) yes and it seems to be recommended to create a new address for every transaction to increase anonymity. | Bitcoin |
0.00000000 balance after three days of CPU mining? | I'm trying to figure out how to handle the console based binaries, and i'm still confused. I'm CPU mining with a machine thats pretty much doing nothing else. Here are some stats:
./bitcoind getinfo
{
"version" : 32100,
"balance" : 0.00000000,
"blocks" : 125344,
"connections" : 8,
"proxy" : "",
"generate" : true,
"genproclimit" : -1,
"difficulty" : 244139.48158254,
"hashespersec" : 6138402,
"testnet" : false,
"keypoololdest" : 1305150600,
"paytxfee" : 0.00000000,
"errors" : ""
}
fgrep -i hashmeter debug.log
05/20/11 17:23 hashmeter 4 CPUs 6127 khash/s
05/20/11 17:53 hashmeter 4 CPUs 6175 khash/s
05/20/11 18:23 hashmeter 4 CPUs 6150 khash/s
Is the miner really running? Shouldn't the balance value adjust slighty? I know it will probably take a long time to get one bitcoin but i'm just trying to find out how it works. | For starters, CPU mining is useless, if you haven't already given up, do so now.
[Here is why CPU mining is no longer useful](https://en.bitcoin.it/wiki/Why_a_GPU_mines_faster_than_a_CPU)
The only viable way to mine bitcoins is using your GPU, even an ATI 6870 running at 300mhash/s for *two to three months* may not mine a single bitcoin.
You may want to read up a bit more on pooled mining, especially given that you may have misunderstood how it is mining exactly works.
[Bitcoin FAQ here](https://en.bitcoin.it/wiki/FAQ#How_can_I_get_Bitcoins?)
| Bitcoin |
Does mining for BitCoins actually use the CPU power for anything productive? | Basically I'm wondering why it requires so much processing power to mine bitcoins and what that processing power is actually doing.
Is all of that processing power simply going to generating some ridiculously complex hashes or do they actually use it for something useful such as SETI@home? | It's used to secure the network. | Bitcoin |
Wanna really help Bitcoin? Quit mining and start selling: Bitcoin Classifieds | null | One way to grow the bitcoin market is to sell something people want using bitcoins. Classifieds are a start. Imagine if Steam only accepted bitcoins?
Shameless self-promotion, I'm already listing my services:
http://www.bitcoinclassifieds.net/ad/72/ | Bitcoin |
Selling Any Steam Game for Bitcoins | If you already have Bitcoins and are looking to buy some Steam games with them, send me a PM. I will buy the game and gift it to you on Steam, and you can transfer me the equivalent number of Bitcoins based on the current exchange rate.
I've got about $100 to invest in this. If you'd like to use an escrow service or need me to show trustworthiness in any way, I'd be happy to oblige! | If steam accepted bicoin..... bitcoin's popularity would explode. Legitimately, it would most likely explode. | Bitcoin |
Bitcoin in the Washington Post | null | looks like the lame stream media is catching on. | Bitcoin |
Get your dildo blessed for Bitcoin! | null | If anyone here needs a "gay" dildo blessed, I would be happy to offer my personal services at a %50 discount, since this guy seems to have a problem with non-heterosexual dildo use... | Bitcoin |
So Bitcoin value just took a huge dive. How come? | I've surfed the forums and can't find any explanation for the 1.3 dollar drop which happened in the last 24 hours, of which 1 dollar was within 8 hours or so. Is there any explanation why the value of them dropped so hard and so fast? | because it was highly overvalued?
why would it be worth so much more than it costs to generate them, especially when theres very few places to spend them yet? | Bitcoin |
When would a mining rig pay for itself? | I'm thinking about building a mining rig and putting it in my closet. But only if it can eventually make back the money I spent making it. Can anyone provide some estimates on how long it would take? You can use whatever specs you think would pay for themselves the fastest in this calculation. | dual ATI 6990: Approximately 1.4G hash/sec
you can play with psu, cpu, and mobo but the setup i have is aroun 2,060 with an expected investment return of two months if the market holds | Bitcoin |
Bitcoin P2P e-cash paper - the original message on a cryptography mailing list where Satoshi Nakamoto introduced Bitcoin | null | more likely down the memory hole | Bitcoin |
This subreddit was created by... Hmmm, Interesting. I just noticed this. | null | r/bitcoin was an inside job! | Bitcoin |
Forget about MtGox, BitcoinMarket.com is now open to the public! Buy/Sell btc with PayPal! | null | I don't see any option to use PayPal to buy BTC on there. | Bitcoin |
FINALS: We need a quality logo CONTEST. [10 BTC Reward] | Place your votes in this thread for canditates below. The one with the highest upvotes wins. Comments count for 2 points. I would prefer you don't cheat with multiple accounts.
Shareholders get the final say.
**Finalists:**
[rusty_shaklefurd](http://i.imgur.com/CD8OO.png), [...and](http://i.imgur.com/jJRbS.png), [Also...](http://i.imgur.com/t2FYb.png)
[StiveGonzales](http://imgur.com/QkgRR)
**Shareholders:**
thorax: 2 BTC
PlasticLiving: 1 BTC
AtlasLGo: .5 BTC
tabsa: 1 BTC
decepto: 1.5 BTC (.5 to the runner-up)
Beachy: 2 BTC
tzimicse: 1 BTC
gwfds123: 1 BTC to runner-up | rusty_shaklefurd | Bitcoin |
I want some input on me building a rig for mining while cash-strapped. | I would love to start out mining at home, I am unemployed and have been for a while. Looking for a way to get into the BTC market is a seeming god send here.
I am not exactly the most computer literate person so I already say here, I'm sorry if this is not correct board for posting. I'm a bit cash-strapped but can pull through as I have as always, you may not know but the human body can take a lot of punishment or achieve great things, even yours. But I digress.
And here I admit, I'm a little dumb but can manage around a computer, building one and setting it up is a no problem for me. I have some older components, perhaps no older than 3 years old and would like to know if I could use this to build a new albeit cheap machine but with good motherboard, GPUs and power supply. Knowing I want a new motherboard that can take 2 cards I assume I need a new PSU as well.
I have some RAM it's DDR2 I just don't know what the number of pins that it has, some HDDs, cd drive and old PSU with heat sink.
Say a $750 for pieces including shipping investment for a rig dedicated to mining (and yes I have taken into account the mining getting harder and harder and at home miner phased out soon) would it still be profitable for me to make a machine based on my funds?
What could you tell me fellow BTC'ers? | >I would love to start out mining at home, I am unemployed and have been for a while.
In that case, spending money to build a PC for mining bitcoin is a pretty horrible idea.
Get back on your feet then head over to [r/buildapc](http://www.reddit.com/r/buildapc). | Bitcoin |
What if Google started mining? | What if Google (or Amazon, Yahoo, Facebook, ... insert web company with huge amount of servers) used half a million servers to mine bitcoins? Wouldn't that be a huge disruptive force? They would own almost all of the coins ... | The difficulty would increase dramatically and then their yields would only be in the range of hobbyists using GPUs. | Bitcoin |
Is the cryptocurrency Bitcoin a good idea? | null | >When the federal reserve "prints money", it doesn't just mail million-dollar checks to random Americans.
Recently it has been mailing trillion-dollar checks to well-connected bankers, who then use them to buy Treasury bonds.
| Bitcoin |
I just got .02BTC | I just got 0.02BTC from [Bitcoin Faucet](http://freebitcoins.appspot.com/)
simple question: now what? its only worth USD0.12 now. | Congratulations, you now have twelve cents.
Bitcoins aren't magical, they're a currency. | Bitcoin |
Radeon card comparison | https://spreadsheets.google.com/spreadsheet/ccc?key=0Ahkpjo2v4KGedGVRSFNsMDZfaGlVSnFBUzcxUWp3amc&hl=en_GB
I put up the above spreadsheet to compare each of the radeon cards in MHash per wat and Mhash per dollar. This chart is based on the one from here:
https://en.bitcoin.it/wiki/Mining_hardware_comparison
prices for the hardware were sourced from shopbot.com.au and ebay.com.au (so Australian prices). you can probably pick the hardware up cheaper in the USA however.
Ideally you want the most Mhashs per wat since the hardware is a fixed cost, this however is complicated by the fact you can only have a limited amount of cards (usually two) per mother board. So this also must be considered | Difficulty is rising exponential and technical analysis show that the Bitcoin will correct itself down to a value between 1$ and 2$.
As long as you don't get electricity for free, mining won't be profitable in the near future.
So if you are buying your mining hardware now you are basically too late. | Bitcoin |
FPGA Mining a threat to GPU mining? | How big of a threat is FPGA mining to GPU mining? Will FPGA mining make GPU mining obsolete the way CPU mining was made obsolete by GPU mining? How fast is this likely to happen? FPGAs seem to be expensive compared to 5970s, but more power efficient. | Hey yeah I actually googled it before I asked, but didn't understand. And there is no need for being dickish just because someone is stupid on the internet. | Bitcoin |
Some questions on the physical transference of BitCoins | Say I wanted to purchase a service from a person who I knew in real life, using BitCoins. Could I take a wallet file (let's call it a 'purse') filled with the prerequisite amount of coinage, and hand it over to him on some cheap form of media (say a CD-RW or a small SD card)?
Say the service was for 2 BTC, and I had 4 in my purse. Could my friend hand me a purse with 2 BTC as 'change'? Alternatively, could he use an internet-connected computer to transfer 2 BTC from my purse to his wallet at the point-of-sale? | You could do it that way, but your friend would have no way of knowing you didn't have a backup copy of the wallet.dat file. Thus, you friend would have to use a computer to send the coins out of that wallet.dat file and into another, one that he/she has access to and you don't. Otherwise, as soon as you gave your friend the wallet.dat file, you could just use your backup copy to transfer the funds out of it and into one of your other wallet.dat files. | Bitcoin |
Would you want a credit card-shaped flash drive used for storing your Bitcoin wallet? | Someone [brought it up](http://forum.bitcoin.org/index.php?topic=9166.0) in the Bitcoin Forum, so I'm just curious to see how many people would be interested in such a product. Suppose you could purchase it for 1.25 BTC or so. | I think you're better off for now working with existing technology. A card requires a new kind of reader. How about just bitcoin portable for your pen drive? Or bitcoin for your android phone. | Bitcoin |
BitCoin skeptics and boosters debate | null | Thanks for the link. The excerpt given contains this:
> Also, for what its worth, if you are going to deploy electronic coins, why on earth make them expensive to create? That's just burning money...
There is a very good reason why bitcoins are expensive to make. The process of making them also checks for cheaters. The computational power of mining is a way of abstracting away the process of policing cheaters. It is inevitable that people will try to game the system. Thus, we need police. The computers are the police, and your computer is one of them. Rather than being some kind of flaw in bitcoin, it is actually just an elegant way to police the system. | Bitcoin |
Bitcoin is Slow Motion | null | If someone had a _true_ majority, they would have the ability to destroy the network by making it untrustworthy, but the Bitcoin network is impervious* to a Sybil attack since there is no (\*known) way to fake the proof of work that valid nodes are doing. One way or another, you need the majority of CPU in the network in order to re-write recent blocks of history.
Satoshi's argument was that the long tail of participating nodes would be sufficient to protect the network, but also that a participant with a majority of the processing power would have more to gain by simply reaping the rewards of block/transaction processing than by doing something like double spending, which would cause the value of whatever they stole to drop (due to lost trust).
An attacker would need 1) interests external to Bitcoin (which would make it more profitable to shut it down, rather than to profit from it), and 2) a majority of CPU power. Competing digital currencies, governments and corporations have the most to gain. | Bitcoin |
TechCrunch- Make.Money.Slow : The Bitcoin Experiment | null | I don't agree with every point, and think that Bitcoin probably has a few more utility advantages over USD than the author mentions, but I thought it was a pretty measured article, which has been rare recently with the hyperbolic Bitcoin press. | Bitcoin |
My biggest problem with Bitcoin... | ...is the finite supply. Eventually, over the course of years, decades, centuries etc. denominations from any currency will be lost and/or destroyed. Therefore it is inevitable that the quantity of a finite currency will diminish to a point so low it will no longer be a viable means of value trade.
Additionally a determined attacker could collect/steal coins and destroy them; permanently harming the system to the point of extinction or irrelevancy.
Imagine if bitcoins shrunk from it's potential maximum of ~21M to around ~1M. How much of an economic impact would BTC wield then? The coins would grow in value, yes, but just as rare works of art are expensive they are not used to buy alpaca socks at your local digital vendor.
Bitcoin will have to eventually mint more coins or it's destiny is doomed for the dodo bird.
I propose a solution of demurrage whereby the value of the currency drops by 1% annually. After the coins reach 100 years of age they would become worthless. Extinction is compensated by releasing new coins each year to compensate for the 1% loss in value.
Why do this? That way; any coins lost or destroyed would "expire" after a century (thus making their removal from the general circulation no longer a concern) and new coins would be generated each year.
More coins would enter the market annually, yes, but the overall value of the coins would remain the same.
TL;DR ...is the finite supply. Bitcoins will be lost and destroyed over X time until they are no longer suitable as a currency. I propose using a demurrage to eventually expire the coins and replace them with new ones each year. | I agree that the finiteness of bitcoins is a bit odd. It's worth noting, however, that bitcoins are actually divided down to 8 decimal places, so there is actually something silly like 21 quadrillion different units that can be traded. (But the GUI doesn't presently support this even though the protocol does.)
Also, I think it makes sense that the first big decentralized currency is finite. That just makes it valuable, and thus kickstarts the digital currency revolution, because everyone who has some has an incentive to make it popular. If there is a market for having another currency that isn't limited to 21 million total, then such a currency could be constructed. It could be based off of bitcoin, but have different economic properties. If this other currency were better than bitcoin, then it could acquire a larger economy. | Bitcoin |
What's going on with MtRed? | Is MtRed dying a slow death? Everyone get scared by the difficulty increase? Do I need to transfer over to another pool? Pool size is 0.4009 GH/s and phoenix is giving me a upstream RPC error on one worker and an empty work queue on the other. Will this be resolved in the near future? | I made the switch to [btcguild](http://www.btcguild.com/). If mtred ever gets their act together I may go back but btcguild looks really nice and is pretty functional already. | Bitcoin |
Why Nobody Will Crack BitCoin | If someone rents out a humongous server farm to try and gain 51% control of the network the costs would be tremendous and there would be minimal gain.
If they rented those same servers and started mining BitCoins they would actually be able to gain a tremendous amount of BitCoins.
Basically, it is more profitable to work for the system than against it.
Am I wrong? | at some point mining will be worthless | Bitcoin |
Help get Bitcoin on Adam vs. The Man | null | because, that's why | Bitcoin |
Addresses in the name field | Would it be possible to get our Bitcoin addresses in the name field in this subreddit, like how [r/anarchism](http://www.reddit.com/r/anarchism) has stars? Maybe it could carry over to r/Bitmarket and r/Bigshot. | You could have people save it as a reader style sheet.
But that would be meh... | Bitcoin |
How is Bitcoin not tracked? | Is any part of the bitcoin process have a chance of being tracked or read? What type of encryption is it and is it one that hasnt be exploited yes or was it developed by some shady company/person. It seemed the last couple years the media amplified people to want to get rid of physical currency and now bitcoin. | Bitcoin doesn't use any encryption.
I don't consider any of the laundry services to be effective, as you almost always get the same coins back that you put in. You'd be better off just sending BTC to yourself. Mixing with MtGox (or whatever) is more effective.
See:
https://en.bitcoin.it/wiki/Anonymity | Bitcoin |
One Week of Trading Bitcoin | null | Thanks so much for posting this. It got gave a damn good guide to buying BitCoins through a means other than Dwolla and MtGox. I used Paypal and Dwolla to buy my BitCoins. Booyah! | Bitcoin |
Bitcoin Investment | null | You can invest in a currency
and you can invest with a currency.
what you are saying makes no sense.
if that's true, then I can apply it to the US dollar currency:
"the US dollar is a currency, not an investment platform"
CLEARLY people invest with the dollar, and in the dollar.
go to Mt. Gox. The prices fluctuate a lot. Its almost like the stock market. | Bitcoin |
Help with Linux client | If I run bin/64/bitcoin, I see a flashibg cursor and nothing more. If I run bin/64/bitcoind, I get some message about putting a password in a config file, but I don't know what it is for or why I need it.
Help? | Do you need GUI client or you're ok with command-line?
There is documentation on setting up command-line on.
I have no idea whether GUI even works... | Bitcoin |
Block Discovery Rate = 11blocks/hr; Network hash rate = 3.2 Thash/s | The next difficulty increase is set to aslo be near 60%. The Network hashrate has tripled in the past 3 weeks. Looks like there is a swarm of people building rigs in order to get rich quick. | Any idea how many FLOPS that is? | Bitcoin |
FPGA Mining | A [FPGA opensource miner](http://forum.bitcoin.org/index.php?topic=9047.0) has just been released running at 80Mhps but at a cost of $585. The efficiency is stated below quoted from a post in the thread.
> At 80 MHps, I will need at least 3 of these to achieve a single 5830 hashrate.
That is $595.-x 3 = $1785.- at full price, vs. $190.- for the 5830.
>Giving the 5830 is c[](http://forum.bitcoin.org/index.php?topic=8543.msg125582#msg125582)onsuming $11.- a month in electricity, and assuming this board will consume zero electricity, it will take more than 145 months, or 12 years to recover the investment, always comparing to a 5830.
BUT:
In [this](http://forum.bitcoin.org/index.php?topic=8543.msg124239#msg124239) thread, someone mentioned he is doing [210Mhash/sec](http://forum.bitcoin.org/index.php?topic=8543.msg125433#msg125433) after some optimization but he will [cease public posting of his development](http://forum.bitcoin.org/index.php?topic=8543.msg125582#msg125582).
> Apologies but no more development information will be posted. I've been offered a 25% share from someone that owns 2 FPGA clusters. If you haven't seen that type of hardware before think a 156 FPGAs per machine.
From those posts what we can understand is that the factors that affect FPGA **now** are high procurement cost, low running cost and ease of scalability . What this means is that with the increasing total hash rate of the network ([30Ghash/day last difficultly adjustment](http://www.bitcoinminer.com/post/5672391181/open-source-fpga-bitcoin-miner-announced)) the question becomes when would the difficulty render GPU inefficient in contrast to running cost?
Remember to take into account FPGAs are usually run in clusters and even though it would not be beneficial to buy one outright, those who have access to FPGA are the first movers and eventual dominant forces of the mining market.
Of course, in the end, ASIC is where it's at. Anyone? =D
Edit: read more stuff, added info. | from what i have read, FPGA mining is not as cost efficient as GPU mining as far as equipment cost is concerned. However the advantages are a lower power consumption per hash. At this time it is only profitable to be FPGA mining if you have access to a large quantity of FPGA chips that have already been purchased for another task and are currently sitting idle. | Bitcoin |
Please Add r/anarcho_capitalism to the "related subreddits"on the right | In my experience the An-caps are way more likely to get on board and promote the bitcoin idea than those in r/anarchism, many of whom seem to have a distaste for money, free-markets and property rights which I think go hand in hand with freedom and the idea of a decentralised currency. | I agree that ancaps will take to this more than most anarchists. | Bitcoin |
I'm considering starting a simple verification service | In #bitcoin on freenode, someone asked what happened if you typed in an address that doesn't exist. We realised that the money would just vanish. So, I decided I should start a verification site - A site you could register your address with, so that others could paste it in and check if it exists, and see any text attached to it (Edit: completely optional. Most users shouldn't need this, to remain anonymous). It would not have a public address listing, nor would it store the addresses, just hashes. I have a VPS I can run this site on, and it would take very little time to create.
Thoughts? | Hrmm, I never realized that you'd lose your coins if you sent it to a ghost address. ಠ\_ಠ
Such a shame though, the system should have verification built in.
I like your idea but it is dependent on people registering and hence a critical mass to run. Idea's great but execution might b ea bit complicated. | Bitcoin |
Political subreddits have been removed from the sidebar. You are free to discuss whatever political theory you like but /r/bitcoin will stay politically neutral. | null | But like, you can't tell me what to do man! | Bitcoin |
Partition Tolerance in the Bitcoin network | Just wondering... what would happen if say the links between the US and Europe (for example) go down for a day, i.e. the bitcoin network is cut in half for long enough so that each half builds up a blockchain 50 blocks long or so. When it re-connects the side with the shorter chain would have to dump many transactions and attempt to "replay" them into the next block. It seems to me that many transactions that were thought to have been safely confirmed might be vulnerable to double spends or possible just getting lost (no sure what timeouts or other capacity limits are in play). The whole scenario is rather unlikely, but hey we just had Fukushima and that was unlikely, too. | That would require a larger network failure than just the ties between Europe and the US. I'm not finding any articles describing the connections (for good reason) but there are major trans-Pacific lines that that would allow North Americans to connect to Europeans, if slowly.
If there was some tremendous outage, large enough that one continent was completely separated from all others, I think we'd have other worries than if our bitcoins were spent correctly, but I think that the network would arrive at a consensus based on which transaction had the more verifications. (I don't know at all.) | Bitcoin |
Any Bitcoin Millionaires out there? | Any early adopters with boatloads of cash now that bitcoin values have skyrocketed? Share your story so we can all be jealous! | Probably none on here but there are a few, there is one person with about 5% of all total btc. | Bitcoin |
Winning Logo: StiveGonzales | Unless there is a unanimous objection from the electorate, the winner of the logo contest is [StiveGonzales](http://imgur.com/QkgRR).
While our honored runner-up is [rusty_shaklefurd](http://i.imgur.com/CD8OO.png).
Much obliged to all that have participated and I request the following shareholders pay their dues to the respective parties.
That means -- Stive and Rusty -- post your Bitcoin addresses.
Shareholders:
thorax: 2 BTC
PlasticLiving: 1 BTC
AtlasLGo: .5 BTC
tabsa: 1 BTC
decepto: 1.5 BTC (.5 to the runner-up)
Beachy: 2 BTC
tzimicse: 1 BTC
gwfds123: 1 BTC to runner-up
EDIT: When you're up for it, Stive, send the logo my way. | Great choice! Let's see those addresses guys. I got some coin to donate. | Bitcoin |
Is it worth making a GPU investment right now? | I am about to buy some GPU's to mine on a larger scale, but I was apprehensive considering the recent analysis of the market. Is it wise to get into the mining gig right now, or is the BTC market about to reset? I understand that my question will yield answers that are more or less opinion, since nobody can really predict something this volatile. | I calculated having 1000 Mhash/s at the next difficulty and you would only make $500/month. Which would take months to pay off the hardware costs. And the increasing difficulty rate would make the first month yield about $500 the next month you would get $250 then $175 the next month and it would continue at that rate. So mining is not really going to be worth it anymore.
Buy BitCoins instead and contribute to the economy. Start a business of your own and you will be able to make more money that way than you could mining. | Bitcoin |
XBox censors "bitcoin". Can someone verify? | null | On that forum jarly writes:
>I'm fairly sure it's just because bitcoin has the letters bitc, most of the word 'bitch'. Just a silly measure to prevent people having even sillier mottos, I guess.
I think that's spot on. | Bitcoin |
If the bitcoin network tried to crack the wikileaks insurance file, could it? If not today, then what might the difficulty be by then? | null | Short answer, no.
Long answer, not even close. According to Bitcoin Watch, the current network is doing about 3 TH/s. Assuming a key could be tried in the same time it took to check a hash, that'd be 3 trillion keys per second. The insurance file is encrypted with AES 256, which has 2^256 keys. Assuming the entire network was working to crack it, it'd take (on average) 2^255 /(3 * 10^12) seconds or 6.12 * 10^56 years. That is 4.5 * 10^46 times the estimated age of the universe. | Bitcoin |
Question regarding wider economic effects of buying a large amount of BTC. | I've been poking around with bitcoin data in order to figure out various aspects of the economics, but lacking any sort of real economic background it's all totally new and quite interesting to me.
Anyway. After running mtgox market data into Excel and doing some basic math, if I bought all 'asks' on mtgox up to $9/BTC, I would only end up paying $8/BTC.
IMO this would fuel a whole bunch of renewed hype-driven speculation leading to prices well over $9 and I'd be able to make a profit by simply saturating most of the increased demand at the right time.
Note also that I'd have to spend about $150,000 which is completely ridiculous.. | >IMO this would fuel a whole bunch of renewed hype-driven speculation leading to prices well over $9 and I'd be able to make a profit by simply saturating most of the increased demand at the right time.
Any reasons specifically you think this? Seems like a crazy assumption to me. I think if you moved the market by buying $150,000 worth of bitcoins at once, the sudden increase in price would prompt many people who think it currently valued properly to sell their BTC to realize their profits from the overvaluation. | Bitcoin |
Bitcoin miner was raided by police due to high energy bill | null | Down already. Mirror: http://www.webcitation.org/5ytR6Rzhe | Bitcoin |
Exponentially Growing Bitcoin Difficulty Chart for Mining | [http://bitcoin.sipa.be](http://bitcoin.sipa.be)
Saw this today, difficulty level is in red. Would you still invest in graphical card after seeing this? | Hell no. I looked at the gains from mining in relation to hardware costs and it makes no sense. The falling incentive for mining is going to make it impossible to recoup costs on equipment. The electricity cost of mining will suck up a bit of the profits and in a year who knows. | Bitcoin |
Ignoring the enforceability of any such laws, is Bitcoin legal? | null | I guess that all depends on the influence it has on political power. Each country is (sort of) independent on this.
If politicians (who we know are mostly controlled by economic factors) are threatened by bitcoin, they are very likely to try and create legislation that controls or bans the use of bitcoin. But given the open P2P nature of its protocol, I highly doubt it can be done successfully by one single government. It would take an entire group -- some combination of the European Union and the Americans to even begin trying to thwart the use of bitcoins. Even then, if Bitcoin is widely accepted by all sorts of people around the globe, by the time these large entities get together for such an action, it will be too late. | Bitcoin |
Money Transmission Act (California) - How does this affect Bitcoin? | null | > it requires money transmitters--companies that act like banks, but aren't, such as PayPal--to get licenses.
I guess all they need to do is track down the company responsible and require them to get a licence. That shouldn't be too h... oh; wait. | Bitcoin |
Questions about Bitcoin usage in the analog world.... | So I keep getting asked what's the point of bitcoins if I can't buy groceries. I have to remind them its a digital medium of exchange/transaction over the internet. (Correct me if I'm wrong) It isn't supposed to be used in the analog world to buy groceries (yet?).
Also this video has been floating around: http://www.youtube.com/watch?v=DoK8HXMSsNg&feature=player_profilepage
Is it just me or the examples he gives in it don't make any sense with what we know about bitcoins? The biggest thing is that he is basically saying because you can't effectively exchange a bitcoin for a dollar, and it doesn't have a legal requirement to use that you shouldn't deal with them. I guess from my perspective is, who cares about the exchange rate/redemability if people are willing to trade goods/services for bitcoins. And that he says mining is trading a bitcoin, not cpu's working out cryptographic algorithms.
**Edit** I also found this on the side, I think this rebuttal is pretty good and kind of fits in with the thoughts I was having as I was watching the original. http://www.youtube.com/watch?v=zk5zs-hmVw4&feature=related Now only if I had enough computing power :( | > So I keep getting asked what's the point of bitcoins if I can't buy groceries.
Tell them that Bitcoins *can* be used to buy groceries. The number of [merchants is small](https://en.bitcoin.it/wiki/Trade#Consumable), at the moment, but it's growing every day.
> Also this video has been floating around
There isn't a single well-formed [argument](http://en.wikipedia.org/wiki/Argument) in that guy's video. If he wants to persuade engineers and mathematicians (the people developing Bitcoin), his arguments will need to be a bit more formal. | Bitcoin |
Holy crap.... | null | Holy crap is right!
Better start using those bitcoins on buying food, you'd have a partially self sufficient living habitat. | Bitcoin |
EVIL THOUGHT: BitCoin Bot Net...Discuss | So who wants to speculate on when someone will turn a Bot Net to the task of mining? | Yeah, but consider this: 1,000,000 computers times just 1 MHash/s equals 1 THash/s. So a not inconsiderable amount. There would be massive bank for a short period of time and then the difficult would get too high again. I think that this is perhaps one way in which the BitCoin network is vulnerable. | Bitcoin |
How will you lose your Bitcoin wallet? I'll tell you. | How will you lose your Bitcoin wallet?
I'm just sharing this so you're thinking like the bad guys are, and take steps to protect your wallet.
* One day, you're going to be reading the Bitcoin subreddit, Bitcoin forums, or some other Bitcoin article.
* You'll click a really interesting link about some new Bitcoin site (maybe *Donate Bitcoins to Tornado Victims*, or *Bitcoin Peepshow Now Online!*).
* The site you visit is specifically constructed to be interesting to Bitcoin owners like you.
* The site has a 0-day (or even older) browser exploit.
* Their script finds your unencrypted wallet and sends it to a sinister thief.
* The thief empties your wallet (or waits until it sees the next incoming transaction and empties it then).
The biggest weakness to your BTC net worth right now is *not* the crash of Bitcoin valuation. Your biggest risk is that the Bitcoin client doesn't secure the storage space for the wallet in any way. When Bitcoin was small, this was not such a big deal, because the average trojan/exploit wasn't going to know or care about your BTC.
But nowadays, crafting an attack specifically targeted towards Bitcoin owners would be very easy. I'd be surprised if it hasn't already happened.
What techniques are you using to avoid this yourselves? Are any of you using Bitcoin clients that secure the wallet better than the default?
There are some discussions here, but so far the suggestions are weak and don't provide much help for Windows users: https://en.bitcoin.it/wiki/Securing_your_wallet
| I'm not a bitcoin user, bit it seems you can limit the amount stolen by keeping two wallets, and keeping the balance of the one on your browsing computer to the minimum amount needed - kind of like a checking account and a savings account at a bank. | Bitcoin |
Some "noob" questions | Hey folks got some questions about BTCs
is it possible to link an address to the Bitcoin client and amount?
like: url: btc://targetadress,1 ? Which would up a window to transmit the setted amount? If not, implement pls :)
What is about the fees you could set, I mean, yes, your "information" will be faster transmitted (proofed) but who will get the money? Random?
You could not transmit a message with the "money" you send (as far as I know) but whats about adding a simple "server" to the Bitcoin client, like sendmail. So, at least an address could be associated with the money received ... (Would make webshops easier imho)
And last but not least:
I am thinking about to accept Bitcoins as payment, but I see some trouble, rapid changing prices, no clear future, and as far as I see, people just horde the Bitcoins instead of using them...
What do you think about this? | > URLs
http://forum.bitcoin.org/index.php?topic=55.0
> What is about the fees you could set, I mean, yes, your "information" will be faster transmitted (proofed) but who will get the money? Random?
The fees go to whoever mines the block which contains your transaction. You don't have any control over it so yes, it is essentially random. By the way, transactions can't go any faster than about 10 minutes, regardless of fees. So usually offering fees will not make your transaction transmit faster.
> You could not transmit a message with the "money" you send (as far as I know) but whats about adding a simple "server" to the Bitcoin client, like sendmail. So, at least an address could be associated with the money received ... (Would make webshops easier imho)
What? You mean a human-readable address instead of the current format?
> rapid changing prices
Using the mtgox API you can transfer your bitcoins to USD the moment you receive them.
>no clear future, and as far as I see, people just horde the Bitcoins instead of using them... What do you think about this?
\*shrug* | Bitcoin |
BitCoins are just an Information Age MLM scam. | So, people buy rigs and pay expensive power bills to mine bitcoins. They encourage others to 'get in on this' to increase demand. The algorithm to generate a bitcoin becomes more difficult exponentially, therefore at the moment that it's no longer profitable to create a bitcoin, people will sell them. This will crash the market; supply will outweigh demand. In this tiny window of opportunity some of the miners will make money, but in the aftermath anyone who didn't sell them in time will have spent a lot more money on the mining equipment and bills than the worth of their newly-minted internet coins.
edit: I'm glad this is so controversial. As long as people are aware of this possibility instead of just relying on their blind faith then when something goes horribly wrong they can act accordingly. | People have started figuring this out and caused a mini-crash, which is why prices have dropped. Now it's up to the misinformation campaign to re-state that all is well long enough to make enough bitcoins before the cost outweighs the gain. | Bitcoin |
Donate Bitcoins to the Electronic Frontier Foundation | null | Donate to me instead!
But seriously, why donate? | Bitcoin |
Need help/suggestions with an ATI vs NVIDIA issue | tl;dr I am trying to run and ATI slave miner while having an NVIDIA primary run games. guiminer recognizes NVIDIA but not ATI.
Long: I have an NVIDIA 460GTX in my primary PCIe x16 slot. Installed standard forceware all works fine. Even recognized by guiminer and runs fine.
I also have an ATI 5850 in my PCIe x8 slot. I can install all the drivers I want and all the SDKs I can find but it is never recognized by GPUz nor guiminer as a usable OpenCL device. I have installed standard drivers and then added SDK 2.4 and tried 2.1. Neither worked. No matter what I do I have not had any success getting these two to play nice. Any suggestions or ideas to try would be greatly appreciated.
Thanks guys. | You need to make a vga dummy plug for windows to enable the monitor. I have a 5770 for gaming thats plugged into my monitor and a 5850 for mining that has a dummy plug. | Bitcoin |
New Edition of the Bitcoin Sun Featuring an Article by Kevin Carson | null | This is great. FYI: Since it costs only 0 bitcoins, you just have to refresh the page to download it. | Bitcoin |
I took the plunge! | Found a merchant that had 4 Radeon 6990's in stock! I paid $2830 for them and my bitcoin mining box should be set up by the end of this week! Mmmm 8 mining processes! Good timing as well, Fedora 15 should be out this week. | Ain't it risky to invest that much money in the bitcoin economy when there is so little you can buy for it? | Bitcoin |
Bitcoin Debit co. | I was thinking about a service that mimics a debit card company that will make it easier to spend BTC in stores. Basically, You have an account with the company and deposit your BTC into their account. Then, they issue you a card with a QR code that can be accepted at any participating merchant. Basically its a debit company that works only with bitcoins. Sounds good?
EDIT: [here](http://i.imgur.com/AEhMc.jpg) is the card. | That really does sound good.
| Bitcoin |
if you had 50k right this second to invest in rigs to bitcoin, would it be worth starting to mine? | my boss has loads of cash. just wondering if he put 50,000 bucks into hardware would it be worth trying to mine?
what about 20,000$?
has the time passed to get into mining? | Taking into account the deflationary value of the equipment as the hash mining difficulty increases, wouldn't just buying bitcoins and watching the investment go up offer a better ROI? | Bitcoin |
Join the StackExchange Proposal to give Bitcoin it's own Q&A service | I bet you all know Stackoverflow, so I don't need to explain how awesome the system is. Just join the proposal and make our own Q&A site possible.
edit: thanks to tabsa for posting the link. totally forgot that: http://area51.stackexchange.com/proposals/30763/bitcoin-crypto-currency | Link to join: http://area51.stackexchange.com/proposals/30763/bitcoin-crypto-currency | Bitcoin |
Using BTC to spread good karma in the real world | The only way to continue the positive growth and development of the bitcoin economy is to move and distribute bitcoins. It appears that interest in bitcoin mining is exploding - but mining alone will lead to hoarding and an ultimate failure. In order to spread the wealth and spread positive influence in the world, I suggest that we all use a portion of our weekly wallet to fund individual philanthropy of our choice.
I envision reddit posts where people offer BTC in exhange for doing community service work, serving a school or community group, helping out a neighbor, etc. The poster could require some basic proof like a picture or something.
The net effect is that the world is a better place, BTC is distributed to those that have shown a capacity for good, and when local news stations start talking about bitcoin, it will be in a favorable light.
| Thats a pretty cool idea :) | Bitcoin |
DeepBit pool temporarily reaches critical 50% threshold | null | This entry is more than two weeks old, at the moment deepbit only has 35% of the network's total hashing power (given the numbers on http://bitcoinwatch.com/ and https://deepbit.net/ are correct) | Bitcoin |
ATTN Indie Game Devs: Accept BitCoins, then PayPal can't screw you. | Nuff said. Also would spike the usage of BitCoins.
EDIT 1: OK, unstable currency. I get that. Third party who can hold your money ransom anyone? The point of BitCoin is to empower people to have control over their currency. The catch-22 of stability is that the economy of BTC will stabilize with use, but no one wants to use them until they stabilize. I'm advocating that people start to use the money such that there exists more of an economy and thus increases stability. Especially in situations where they are at risk for being run over by their payment processing companies. | This is a great idea, but it isn't really useful to propose within /r/Bicoin. You're preaching to the choir. | Bitcoin |
Easy way to sell digital downloads for Bitcoin | null | Ok, sure: http://www.reddit.com/r/BitMarket/comments/hiybz/hottie_videos_nsfw_testing_ubitious_btc/ | Bitcoin |
Switching GPUs | I currently have 2 GTX 460s and I just got into mining. I originally built my PC for gaming, but I really don't have very much time to game on it, so most of it's time is now spent mining. I am trying to figure out the best way to change to ATI/AMD cards for mining but I can't really figure out what my best option would be. Any help? | https://en.bitcoin.it/wiki/Mining_hardware_comparison#AMD | Bitcoin |
Was bored. Made a picture of a BitCoin. | null | If we could get the 3D source files then fun could be had by many. | Bitcoin |
By 1636, tulips were traded on the exchanges of numerous Dutch towns and cities. This encouraged trading in tulips by all members of society. | null | And? | Bitcoin |
The Wasted Electricity Objection to Bitcoin, Part 1 | null | Moore's law is irrelevant. The difficulty is dynamically adjusted. | Bitcoin |
NPR Story on BitCoins! Some one should correct their mistakes. | null | http://www.npr.org/2011/05/24/136620231/what-are-bitcoins | Bitcoin |
Bitcoin on NPR's All Things Considered | null | > "That's right. There's no record of transaction."
Oh, brother! | Bitcoin |
Will some one explain to me in Layman's Terms how to mine bitcoins? | null | 1. Go here: [http://mining.bitcoin.cz/](http://mining.bitcoin.cz/)
2. Read the instructions (for example I used m0mchil's GPU miner to use only my video card)
3. Select automatic payout between 0.01 BTC and 1 BTC (set it to how much you would get in 24 hours)
4. ???
5. Prophet!
This is the most efficient mining option available for me. The in-browser mining is about 70-80% efficient and uses only the CPU. Other pools are either too big (smaller payouts) or too small (unreliable payouts) for me. | Bitcoin |
How many people would work in full time technical position for just bitcoins? | This all Assuming that the payment rate adjusted for bitcoin's relative value.
This is purely out of curiosity, at this point. | well, i'd rather get paid in a fixed number of bitcoins - that's kind of the point. anyway, i'd be game | Bitcoin |
Hey R/Bitcoin, is it too late for a new guy to start? | Hey everyone. I'm building a new 2500k/GTX560 rig hopefully within the next week, and, considering I only first stumbled across Bitcoin when it started gaining popularity over in r/libertarian a few weeks ago, I know I might be a bit late to the party. I've read that day after day the difficulty to mine Bitcoins increases fairly significantly, so my question: Would it be wasting electricity/time to start mining now? If so, what's the best way for a nub like me to get into the Bitcoin market?
Thanks in advance :] | If your goal is to invest in bitcoins, you should consider simply buying them rather than mining them. | Bitcoin |
Spend BitCoins on Amazon With No Transaction Fees | null | > I am an Amazon associate and get commission for every order.
Wow, that's genius. Everybody wins! | Bitcoin |
Bitcoin Wallet. Questions. | I use an online wallet service, and an online mining service. I used the online service to generate a wallet #.
So.. does it matter if I even have a physical wallet file?
I have the number written down.. would I be able to retain the wallet if the online service went down, or should I somehow download the wallet locally?
Basically I just need some guidance into assurance that I won't lose the wallet.
Not worried about regular security (eg someone stealing the wallet file), there's other posts for that.. I'm just worried that I may be misunderstanding the true location of my money.
**Edit:** Right now I've been using http://mybitcoin.com for the online wallet, and from what I understand I should run the default bitcoin client on my computer, and transfer them there, in order to backup a large chunk of the coins now and then.
Also, I use http://www.bitcoinplus.com/ for the online mining I was talking about above. | Yep. The address isn't enough.
Every once in a while when you have a chunk of BTC, open a client on your computer and transfer them locally. Then backup/encrypt that wallet.dat file... | Bitcoin |
Is there an easy, portable Bitcoin miner? | I know there are in-browser miners out there, but I would be interested in a miner that I can run natively, right from a thumb drive etc. Any platform would be good, particularly a Solaris solution. Whatchagot Bittit? | The hard part is making sure that the proper graphics drivers are installed. From there it's no big deal to copy over phoenix miner or any of the others. | Bitcoin |
Bitcoin miners busted? Police confuse bitcoin power usage for pot farm | null | [Slashdot comments](http://idle.slashdot.org/firehose.pl?op=view&type=story&sid=11/05/24/1257229#commentlisting) for the bored. The first one is quite funny. (At least the /. hivemind +5-ed it.) | Bitcoin |
Opportunity: Thy Name is Bitcoin | null | The fundamental question (which they raise obliquely in the post) seems to be whether Bitcoin's strengths over other forms of currency will give them an additional boost vs. Flattr. | Bitcoin |
Recommended CPU miners? | I'm running Ubuntu 10.04 x64 on an Intel i5 (4x2.53GHz) with an Nvidia NVS 5100M GPU. The GPU is running polcbm, and getting up to 5.3Mhash/s with that when I'm using the computer, but I'm looking for something a little better from the CPU than the 3Mhash/s I've seen it get with the default application and nothing else running. (Running a bunch of other stuff right now, I'm getting 4.8Mhash/s on the GPU and 2.5 on the CPU.)
tl;dr: I'm looking for a better CPU miner for Ubuntu 10.04 x64. | I've heard good things about [RPC-miner](http://forum.bitcoin.org/index.php?PHPSESSID=24f30cdcace30ac80621c6217272e42f&topic=2444.0) | Bitcoin |
Krad Miner uses Firefox 4, WebCL, and your video card's GPU to earn you Bitcoin | null | It is actually way slower. lol | Bitcoin |
Bitcoin is compared to a virtual Gold but seems as though it is much more deflationary than Gold | Gold has been mined for 5000 years or so, and every year more and more gold is mined, especially when the price of gold is high, as it is now. Bitcoin is even more deflationary by decreasing the rate of production, eventually decreasing it to nothing.
How will store owners operate if the price of their goods fall between the time the purchase the goods and sell them? I know there are some examples in place, like computers and TVs, but not accross the board. Also wages are sticky; how do you slowly decrease someones salary to adjust for steady deflation? | If the deflationary nature of bitcoin is a concern, can't people just deal in another currency, but use BTC as the medium?
Or, can't people just create bitcoin-2, which is inflationary?
Actually, that's an experiment I'd love to see! Which one would be used more (my guess: the deflationary one) | Bitcoin |
Timejacking and Bitcoin | null | It doesn't work long term unless the attackers can keep the "future" block chain longer than the network's.
The network would continue adding orphan blocks to the legit blockchain. Once these orphan blocks caught up with the "future" blocks the canonical chain would shift back to the legit chain. It is not a persistent attack without the usual requirement of exceeding the computational power of the honest network.
Since you are unlikely to be able to maintain the attack for the number of confirmations required to vest bitcoins from BLK awards, you are also still limited only to the malicious double-spending of _your own_ bitcoins.
That said the temporary attack is pretty simple and this could cause a crisis of faith in any currency based on the blockchain, and so should be patched. | Bitcoin |
FAQ - Quantum computers would break bitcoin's security | >Bitcoin's security can be upgraded if this were considered an imminent threat.
The FAQ is less than helpful.
I don't buy that quantum computers are a distant dream. DWave has a unit for sale now that can do discrete optimization. When you can factor arbitrarily large prime composites, what does this mean for BTC? What if I mine all the remaining BTC with a QC?
Don't dodge this. Until then I will not hold onto a BTC for more than a few hours. I certainly am not interested in saving any of them. | At that point, I'll sell and buy QBitcoins. I'll make sure to keep my QWallet.dat entangled with Schrödinger's cat. | Bitcoin |
Hate how everyone calls Bitcoin a Ponzi scheme? Join a real one at one BTC! | null | Any economy based on the assumption of growth is also a ponzi scheme. | Bitcoin |
Bitcoin end game problem? What happens when the block creation is no longer profitable? | I'm not sure if I understand correctly, but as I understand, block record keeping, and transaction security is provided by those doing mining.
If that's the case, then what happens when the limit is reached? What will be the incentive to do that important work? Will it stop and break the system? | Thats what transaction fees are for. | Bitcoin |
Bitcoin has shot up to $8.50 | null | Actually read what Bitcoin is.
Until then, keep quiet. | Bitcoin |
Want to buy something on Amazon? Want to pay with bitcoins? | I buy a ton of stuff on Amazon, and the current ways to purchase bitcoins suck (ie, no Paypal etc). So, if you're looking to buy things on Amazon with bitcoins, I can buy it for you and you can send me bitcoins.
I can buy your item first and show you the tracking info, so you verify I'm not scamming you. Plus at that point I have your address, so if you don't send me the coins I can show up and be sad :-p
Good idea? Bad idea? | I'm in no way affiliated with this guy, www.spendbitcoins.com
But something along the lines of this where you can be rated so we know you're honest would help.
I'm sure you're a super trustworthy guy, but this way anybody else could be sure of it. | Bitcoin |
Bitcoin vulnerability? | Bitcoin's strength is its decentralized nature, but isn't there one part of the bitcoin system that is centralized: the IRC server.
From my understanding, all bitcoin clients connect to the #bitcoin IRC room to find other clients and nodes. I may be missing something in how IRC works, but doesn't someone have to host the IRC server? Who hosts the server with #bitcoin, and couldn't this be an easy target to take down the bitcoin network? No IRC room, no way for my client to find others on the bitcoin network, and thus no way to send or receive BTC. I know Anonymous seems to have difficulty keeping IRC servers up, why would bitcoin's IRC server be any more resilient?
Edit: Thank's for all the responses, really helps clear things up. Glad to hear that the central IRC connection isn't important to the functioning of the bitcoin network. | I believe the bitcoin client currently knows about several high-reliability peers hardwired into it. It will contact these if it cannot reach the IRC. From one of these, it can learn about the same peers it can learn about via IRC.
So, vulnerable, but not as vulnerable as you think. | Bitcoin |
UseMyWallet gets shut down. Is DWOLLA next? | null | US poker players are out of luck game over and the feds win | Bitcoin |
Best pool to join for New miner. | I have a laptop with an ATI graphics card (it's not the best, but whatever), and free electricity. I figure that, what with bitcoin mining and all, every second the thing sits idle is time wasted. So, I gotta ask, what's the best pool for a guy like me? (I've purchased BTC, so in before 'don't mine, buy'.) | I use BTCmine, but any large, free pool is fine.
I like these ones:
* BTCmine is free and "score" based
* BTCguild is free and share based
* MtRed is free and share based, but still small (so it has more variance)
| Bitcoin |
Kinder Surprise Chocolate Eggs 4 Bitcoins | http://en.wikipedia.org/wiki/Kinder_Surprise
Simple...I want bit coins...you want delicious chocolate coated choking hazards. Shipped anywhere in the US or Canada. Price = 2 Bitcoins shipping inc. Anywhere in Canada or continental US. First 5 people only. | This goes in /r/BitMarket | Bitcoin |
MIT Technology Review - What Bitcoin Is, and Why It Matters | null | Wow. So much change in the past 2 weeks. Wouldn't be surprised to hear about bitcoin on cable news in the next week or so. | Bitcoin |
Wuala online storage slashed prices to 0.1 BTC / GB, valuing BTC at > 10$ | null | Valuing it at over 20 Dollars. 1 BTC per GB. 10 GB - 19 EUR. 1 BTC - 19 EUR. 19 EUR = ~27 USD.
| Bitcoin |
Next difficulty is 1739509. Hope nobody bought a new rig this week. | null | Difficulty calculations are completely wrong until more blocks are generated.
"Estimate is usually wildly inaccurate for 100-200 blocks after a difficulty change due to insufficient sample size." | Bitcoin |
New difficulty: 434883 | Look at that [huge jump](http://bitcoin.sipa.be/speed-lin.png) and exponential growth. It seems to mirror very closely the interest showing on [Google trends](http://www.google.com/trends?q=bitcoin&ctab=0&geo=all&date=ytd&sort=0).
I regret investing in mining a month ago when it was $1.3/BTC and everyone seemed to think the price would go down in the near future. I could have 600 BTC now instead of 100 BTC... oh well, I can still sell my mining rig, it's a pretty beastly gaming machine. | Do you mean you regret not investing?
Also check out the new target difficulty!!!
http://blockexplorer.com/q/estimate
Over a million already? Mining is becoming hard quickly. | Bitcoin |
Should OpenSim Use Bitcoin As Its Virtual Currency? | null | Hell. Yes. | Bitcoin |