[QUOTE=Squad;30374382]Use it for quick money and get out quick. It is in no way a long term investment.[/QUOTE]
pretty much this, and I would quit out and/or cash it in when the value for 1 goes above 50 bucks (wouldn't be surprised..)
[QUOTE=hpqoeu;30374392]its not worth getting in this late though, the bubble burst not too long ago[/QUOTE]
So it's a rather stagnant market now then?
[QUOTE=Zeke129;30374415]So it's a rather stagnant market now then?[/QUOTE]
well recently it spiked up because of silk road
[QUOTE=hpqoeu;30374392]its not worth getting in this late though, the bubble burst not too long ago[/QUOTE]
The market hit a new high, a nice even number at $30 - so lots sold. It's down to $20 now, it would be a great time to invest, actually.
[QUOTE=wlzshroom;30374427]well recently it spiked up because of silk road[/QUOTE]
I thought it spiked because lulzsec began accepting bitcoin donations
[QUOTE=Zeke129;30374356]Well as long as niche markets accept them as currency they will retain a monetary value amongst people who participate in that niche market[/QUOTE]
but then why even participate in the niche market anyway if all you're doing is taking a portion of your real money (dollars, w/e) and converting it into a currency which can only be spent on a small variety of goods which you could buy with real money anyway
and it won't be because there would be any real profit to be made from conversion because, if bitcoin were to become a legitimate currency, then it would be too stable to profit off of in the same way you can't make short-term profits off of converting between, say, dollars and pounds
[QUOTE=Zeke129;30374415]So it's a rather stagnant market now then?[/QUOTE]
[url]http://bitcoincharts.com/charts/mtgoxUSD#rg60zvztgSzm1g10zm2g25[/url] click it
[QUOTE=SigmaLambda;30374451]but then why even participate in the niche market anyway if all you're doing is taking a portion of your real money (dollars, w/e) and converting it into a currency which can only be spent on a small variety of goods which you could buy with real money anyway
and it won't be because there would be any real profit to be made from conversion because, if bitcoin were to become a legitimate currency, then it would be too stable to profit off of in the same way you can't make short-term profits off of converting between, say, dollars and pounds[/QUOTE]
the currency is still really unstable so it's feasible to make money off of it in the same way you would in the stock market
[QUOTE=Shadaez;30374452][url]http://bitcoincharts.com/charts/mtgoxUSD#rg60zvztgSzm1g10zm2g25[/url] click it[/QUOTE]
Looking at a six month period now appears to be a terrible time to invest
[QUOTE=ultradude25;30374047]Wow, so goddamn fast...
[img]http://images.matt-russell.com/ZScreen/SS_11-06-2011_05.24.17.AM.png[/img]
Thanks GTX 470![/QUOTE]
[img]http://dl.dropbox.com/u/9657727/iwin.png[/img]
ati 5870 <3
[QUOTE=wlzshroom;30374459]the currency is still really unstable so it's feasible to make money off of it in the same way you would in the stock market[/QUOTE]
unless it collapses because people realize that it's based entirely on a supposed expansion of participation and an assumption of long-term appreciation eg what happened to beanie babies
[QUOTE=SigmaLambda;30374506]unless if collapses because people realize that it's based entirely on expanding partcipation and an assumption of long-term appreciation ie what happened to beanie babies[/QUOTE]
you mean like gold??
[QUOTE=SigmaLambda;30374506]unless if collapses because people realize that it's based entirely on expanding partcipation and an assumption of long-term appreciation ie what happened to beanie babies[/QUOTE]
please get out if all you're going to do is stuff like this
[QUOTE=wlzshroom;30374527]please get out if all you're going to do is stuff like this[/QUOTE]
I don't see anything wrong with what he's saying
[QUOTE=Shadaez;30374523]you mean like gold??[/QUOTE]
no but gold has a long history of value and widespread participation whereas this is funny money which reeks of countless dot-com bubble enterprises
like even other tangible assets like palladium are less secure investments than gold simply because gold has a history and palladium doesn't
[editline]10th June 2011[/editline]
[QUOTE=wlzshroom;30374527]please get out if all you're going to do is stuff like this[/QUOTE]
i just wanna talk is all :shobon:
[QUOTE=Zeke129;30374482]Looking at a six month period now appears to be a terrible time to invest[/QUOTE]
you need to understand that overtime it gets harder to get one coin from mining, and as more miners join there's even less of a chance of getting them - increasing difficulty, what you should be looking at are the price vs difficulty
So I just started this, set up guiminer and its running at about 350Mhash/s, how long until I actually get any dosh?
Thanks to Shadaez, I've gone from 177Mhash/s to ~200Mhash/s.
Overclocked my GPU core clock to 950Mhz, from 850Mhz.
[QUOTE=chipset;30374705]So I just started this, set up guiminer and its running at about 350Mhash/s, how long until I actually get any dosh?[/QUOTE]
2-3 days and you'll get like 1-2 bitcoins, depending on the pool that you are in.
Also depending on how many faggots that tell the communities about this.
honest to god i could never get how people got so into the "coding and script" portion of how mining works
also i get like 25khash's when i mine, wtf is going on i have a 6750
[QUOTE=FFStudios;30374760]honest to god i could never get how people got so into the "coding and script" portion of how mining works
also i get like 25khash's when i mine, wtf is going on i have a 6750[/QUOTE]
Are you sure that's not your CPU working, there?
[QUOTE=windwakr;30374826]I was thinking about investing in a mining computer, but I think I'll wait a few days and see what happens with the prices first.
Prices are dropping like crazy. From $32 to $20 in about a day.[/QUOTE]
it also went from $14 to $28 in a day
[editline]10th June 2011[/editline]
(on the day that difficulty increased %30)
[editline]10th June 2011[/editline]
I'd also like to point out that it's only mtgox that's low, the others seem to be more stable at $26-$30
[QUOTE=BlkDucky;30374802]Are you sure that's not your CPU working, there?[/QUOTE]
how do i tell
Fun fact: A good mining rig can also make a fucking amazing gaming computer. :v:
gtx 580 at 125 mhash/s
fml
I love it how my 2xGTX295 gets outperformed by a single 5770, beating mine with 100Mhash/s.
God damn you clumsy programmers, not everyone uses ATI, write a dedicated Nvidia client too! :argh:
[QUOTE=VistaPOWA;30375211]I love it how my 2xGTX295 gets outperformed by a single 5770, beating mine with 100Mhash/s.
God damn you clumsy programmers, not everyone uses ATI, write a dedicated Nvidia client too! :argh:[/QUOTE]
There are CUDA-based miners too, y'know. It's just the fact that AMD cards seem to better with parallel number crunching. :v:
[QUOTE=FFStudios;30374912]how do i tell[/QUOTE]
AFAIK the binary at [url]http://www.bitcoin.org/[/url] can only work with CPUs. You have to use [url=http://forum.bitcoin.org/?topic=3878.0]GUIMiner[/url] or something similar (there's a cmd based one somewhere) to utilise your GPU.
[QUOTE=BlkDucky;30375291]AFAIK the binary at [url]http://www.bitcoin.org/[/url] can only work with CPUs. You have to use [url=http://forum.bitcoin.org/?topic=3878.0]GUIMiner[/url] or something similar (there's a cmd based one somewhere) to utilise your GPU.[/QUOTE]
[url=http://forum.bitcoin.org/index.php?topic=6458.0]phoenix[/url] and [url=https://en.bitcoin.it/wiki/Poclbm]poclbm[/url] are 2 popular command line miners...There's probably more, though.
my 4650 gets a grand total of 10mh/s
i got tired of the fan spinning all the time when it was running so i just stopped doing it. not really worth the noise
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