Bitcoin-based credit card reportedly due in two months - Polidicks

[QUOTE=latin_geek;37339322]Why do I get the feeling Bitcoins will crash and burn if they go mainstream like someone will get their supercomputer mining coins and run the currency into the ground or something[/QUOTE] It doesn't work that way.

Wouldn't this kind of erase the whole "Decentralized,anonymous" aspect?

Bitcard, the number one most used credit card among African warlords, buy one today!

[QUOTE=jakedog;37341751]Worthless? Each bitcoin is worth ten fucking dollars, it's seems to be going pretty strong to me[/QUOTE] Each whole bitcoin A day's mining will get you maybe 1/100th that

[QUOTE=scout1;37342054]Each whole bitcoin A day's mining will get you maybe 1/100th that[/QUOTE] You've obviously never mined with a good rig, a good rig can pump out $240 per day. That's just one computer buddy. I plan on at least running with 3 computers in my pool.

[QUOTE=rulssi;37341798]Yeah bitcoin is getting stronger and stronger. Its really good for doing business online and staying anonymous.[/QUOTE] paypal

I could never figure out how to get into this.

Bitcoin is an experiment. Nothing more, nothing less. I treat it as a "test currency", where I can get real world experience on basic economics from a small market. I invested a small amount of money in it last year, and it's entertaining to keep track of the pricing, and trying to draw correlations between events within the community and the value of BTC. For example, the recent drop a few days ago from $15 to $10 coincidentally came amongst the same time pirateat40 shut down his pyramid scheme BTSFDSGDSGQRWQWERAF or whatever it was called. You can never say for sure, it's just interesting to see how it all plays out. As for BTC as a currency, personally I think its a bit too ahead of it's time, as in we have no real need for it's benefits in this current day and age, but we possibly might in a few years. Or who knows, maybe we'll all just deal with the fact that privacy doesn't exist in the 21st century and BTC will remain a currency for vice seekers. Right now though, I think people need to stop bashing it for no reason, the technical aspect of it is very clever, and it has a lot of potential as well. And besides, even if it remains a joke to some: [QUOTE=Fred Wilson]Bitcoin is still very much a fringe thing and is tiny as these things go. Compared the the volume of transactions Square will do with Starbucks, Bitcoin looks like a joke. But I like to pay attention to the jokes, the laughing stocks, because occasionally they get the last laugh.[/QUOTE] [URL="http://www.avc.com/a_vc/2012/08/bitcoin-update.html"]http://www.avc.com/a_vc/2012/08/bitcoin-update.html[/URL]

[QUOTE=jakedog;37342127]You've obviously never mined with a good rig, a good rig can pump out $240 per day. That's just one computer buddy. I plan on at least running with 3 computers in my pool.[/QUOTE] You would literally astound me if you could mine 24 bitcoins a day with one computer now Please show your graph

He probably has a fuckload of FPGAs controlled by a raspberry PI in an ATX case.

I plan on investing at least $5,000 into my setup, just from reading forums it seems people can get that much with FPGA boards and everything.

The whole idea of deregulating a currency and allowing the users to literally print their own money still sounds like such a bad idea. It drives inflation absolutely wild. You have absolutely no control over the relative value against other currencies and if nobody is going to honor the value you put on your currency come time to buy real world products there really is no point to it at all.

[QUOTE=MIPS;37343406]The whole idea of deregulating a currency and allowing the users to literally print their own money still sounds like such a bad idea. It drives inflation absolutely wild. You have absolutely no control over the relative value against other currencies and if nobody is going to honor the value you put on your currency come time to buy real world products there really is no point to it at all.[/QUOTE] bitcoin miners don't "print their own money", i don't know where you got that notion from

[QUOTE=Cheesemonkey;37341769]i'm waiting for the cosbycoin credit card [IMG]https://1e400.net/i/http://i.imgur.com/9wBbO.png[/IMG] [URL]http://cosbycoin.org/[/URL][/QUOTE] You got to kidding me Well, you know what this calls for? [video=youtube;QLwjDigdM6k]http://www.youtube.com/watch?v=QLwjDigdM6k[/video]

[QUOTE=Desuh;37339359]Mining already is impossible as long as you dont have several dedicated mining pcs with several top of the line graphics cards. I really regret missing out the early days of bitcoin mining. You could basicly make hundreds and thousands of dollars just by letting your pc run.[/QUOTE] Not really, since there wasn't much demand for BitCoins, you could only sell them for a fraction of the supposed "value"

[QUOTE=J!NX;37340607]Jobs, I guess I could understand if they're online, but simply buying bitcoins wouldn't make sense, why not just purchase with the raw currency instead?[/QUOTE] But then I can't buy drugs and assassins

One step closer to a libertarian Utopia. Ron Paul would be proud [IMG]http://fi.somethingawful.com/images/smilies/emot-911.gif[/IMG]

So many uneducated bitcoin posts here, I think I have surfed in bitcointalk forum too long.

[QUOTE=stupid10er;37343828]bitcoin miners don't "print their own money", i don't know where you got that notion from[/QUOTE] Building ultra high-performance or specialty computers with the sole purpose for mining is as close to printing money as you can possibly get without using a printer to make physical cash.

[QUOTE=SPESSMEHREN;37343972]Not really, since there wasn't much demand for BitCoins, you could only sell them for a fraction of the supposed "value"[/QUOTE] They were $30 at one point.

Now accepted in basements worldwide!

[QUOTE=MIPS;37345706]Building ultra high-performance or specialty computers with the sole purpose for mining is as close to printing money as you can possibly get without using a printer to make physical cash.[/QUOTE] Oh yeah it's not like we can buy a dedicated box for it or anything. Dude, I'm going to invest $30,000 into a rig that will earn me $430 per day. It will pay itself off in less than 3 months, I'm sorry but how much do you make per day?

[QUOTE=jakedog;37346317]Oh yeah it's not like we can buy a dedicated box for it or anything. Dude, I'm going to invest $30,000 into a rig that will earn me $430 per day. It will pay itself off in less than 3 months, I'm sorry but how much do you make per day?[/QUOTE] I don't think he criticises people making money by mining, he just said that it wasn't a good or stable system (because of inflation, etc.).

[QUOTE=jakedog;37346317]Oh yeah it's not like we can buy a dedicated box for it or anything. Dude, I'm going to invest $30,000 into a rig that will earn me $430 per day. It will pay itself off in less than 3 months, I'm sorry but how much do you make per day?[/QUOTE] seriously do you keep records No way you are making more than a bitcoin a day on a single rig no matter how powerful

[QUOTE=MIPS;37343406]The whole idea of deregulating a currency and allowing the users to literally print their own money still sounds like such a bad idea. It drives inflation absolutely wild. You have absolutely no control over the relative value against other currencies and if nobody is going to honor the value you put on your currency come time to buy real world products there really is no point to it at all.[/QUOTE] uh no actually the problem with bitcoin is that there's a cap on the number of bitcoins so it eventually deflates well, that's one of the problems. b [editline]21st August 2012[/editline] bitcoin is like the gold rush, the people making bank are the ones selling the mining tools. [editline]21st August 2012[/editline] [QUOTE=jakedog;37346317]Oh yeah it's not like we can buy a dedicated box for it or anything. Dude, I'm going to invest $30,000 into a rig that will earn me $430 per day. It will pay itself off in less than 3 months, I'm sorry but how much do you make per day?[/QUOTE] except it won't pay for itself in 3 months because of the electricity costs you forgot to factor in and the fact that it gets more difficult to mine with time

[QUOTE=jakedog;37346317]Oh yeah it's not like we can buy a dedicated box for it or anything. Dude, I'm going to invest [B]$30,000 into a rig that will earn me $430 per day[/B]. It will pay itself off in less than 3 months, I'm sorry but how much do you make per day?[/QUOTE] Well that's totally different to what you estimated earlier! You suddenly shot up to 6x the build cost and only ~$200 extra profit a day in whatever theoretical world you live in!

[QUOTE=MaxOfS2D;37339168]buttcoins [img]http://i.imgur.com/FAVyM.gif[/img][/QUOTE] I never understood this joke mostly because I don't understand bitcoin very well it's hard to get information about it that isn't jokes or opinionated forum posts

What is this stupid mining shit what is a computer mining for I don't get it is it trying to solve algorithms wtf

[QUOTE=Clementine;37347240]What is this stupid mining shit what is a computer mining for I don't get it is it trying to solve algorithms wtf[/QUOTE]Every time a transaction is done, it has to be processed by a p2p network. Miners do the processing and get a small cut for their job.

[QUOTE=itisjuly;37347391]Every time a transaction is done, it has to be processed by a p2p network. Miners do the processing and get a small cut for their job.[/QUOTE] that's not what mining is though, that's just what it's meant to encourage.