Please, /blog/, tell me there is a way to short sell this shit. We all know that this is a bubble, surely there is a way to profit on these morons, right?
>>122 yeah, but isn't that a good thing?
#120-- more a remark about legit\counterfeit money printing than anything, sorry i wasn't really paying attention =)
I really do like the mining idea though, much better than relying on a bank to print money for everyone (themselves)... too bad it's already infeasible to make much of any money mining..
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Anonymous2013-03-07 3:27
>>126
>too bad it's already infeasible to make much of any money mining..
>>130 mornin'
Maybe it's just me, but doesn't printing money (at least in a centralized manner) cause inflation (devaluation of the currency, in essence making savings worth less over time // in effect robbery?)
well, a fair amount anyway.. and i've built a few (probably a bit sketchy) hash functions in my time =D
seems like bitcoin has the opposite problem to most currencies though - too much deflation ..? a little is probably good though, but i paid 20$ for a gold-plated coin once, so 30$ for something that barely physically exists seems a little steep.
>>133 Maybe it's just me, but doesn't printing money (at least in a centralized manner) cause inflation (devaluation of the currency, in essence making savings worth less over time // in effect robbery?)
No, it's not just you, many idiots believe deep inside that money is used to buy stuff from magical interdimensional traders, thus don't include production at all and increases in it in particular in their reasoning. Some of them are also 13 years old and believe that grown up's savings are the same thing as five bucks in nickels and quarters they stashed in a shoebox.
So no, it's not just you at all, in fact you can find vibrant communities of like-minded retards virtually everywhere on the interwebs!
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Anonymous2013-03-07 8:23
>>129
And mining gold is just a roundabout way of burning actual time!
so many jews in /prog/ in here, it's fucking pig disgusting: why you hate bitcoin? it's the only fucking why to get the fucking out of the banking system
/prog/: where bitcoin is the only sane alternative to the gold standard, ololo. >>142, before you consider how to get out of the banking system, maybe you, personally, should try to get in first, if you know what I mean? And no, your parents giving you allowance doesn't count.
Two hours into the MtGox trading day and it's already been between 45$ and $40. You'd have to be a huge idiot to buy for anything other than speculation right now.
>>129
When I mined--mostly in mid-2011 and early 2012--I calculated that my GPU drew about 25 cents of electricity per day. I don't remember how long I mined, but lets say 200 days, and I have more than 60 BTC left. The GPU cost about 200. 60*40-50-200=$2150... not bad.
The reality is that mining is profitable--that's why there are still miners.
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Anonymous2013-03-07 23:43
>>155
The part of the reality that you're missing is that mining is a lot more difficult than it was then.
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Anonymous2013-03-07 23:45
what cost of mining, don't you use your computer anyway
i have a plan
let's start a distributed computing project. we advertise it as a children cancer research or something but actually we would mine bitcoin :3