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Mario1 said:
"This video isn't available in your country" FML.
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Yup... I doubt CBS would be willing to pay for the bandwidth to stream to other countries where their advertising doesn't make them money.

Convicted1 said:
Proxy. ;)
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+1 to that.


Just so you know what the whole thing is about. A very popular TV Show in the HS (The Good Wife) did an entire episode based around the Bitcoin currency.
 
Lol that was the dumbest crap I've ever heard lol.

"We believe this currency is being used on the black market for money launderers, drug dealers, and child pornographers"

Looks like they caught us boys...
 
Well... I actually wouldn't doubt theres a considerable amount of that going on.

I will however say... My personal opinion. It is NOT a currency.

It is closer to a commodity.

Whats everybody elses take?
 
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I consider it a commodity as well, with potential to be a currency, (later on of course)

Once e-tailers open up to it, I can see you being able to buy stuff for bitcoins.

At the moment though, how could they price items? When bitcoins go from $7.15 - $6.50 in 24 hours how can your pricing be fair, yet net you a profit?

Right now it is too volatile to be used as money.
 
^^^ What he said exactly. With the shifting in prices, it's much too volatile to be be used for purchases and such. There are also multiple exchanges. MTGox usually has a high trading rate than TH, so etailers could try and get more BTC by quoting a lower price.

And with such a quick changing market, it's as if someone would try to buy a car with S&P 500 shares. :screwy: Once it become more stable, it could be a possible currency contender.
 
I have been messing around with bitcoinica for the last few days. I have bought and sold little bits here and there. I only put 5btc in, so it is small amounts. I didn't want to risk losing any more than that.
I just put a buy order in at a low price and get a btc or two on one of the spikes down. then sell at a profit when the price goes back up.
There is not big money in it unless you want to risk big.
 
Haha I was just curious. I was watching it all go down and wanted to take part soooo badly, but I only just started mining too and with Nvidia GPUs (my radeons are in the mail) so I only had 0.37 bitcoin to risk. :p
 
I've got 1.5BTC and about 4 NMC. Not a whole lot just yet. I only have my 5870 mining right now, but I do have these waiting in the shadows... ;)

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I already had the parts so I figure why not throw a couple of 5830's into them (yet to purchase). Right is my Phenom II 555x (mining LTC) in my UD5P so I can run 2x5830's and the right is a 3200+ single core that will possibly run 1x5830 in the future. I don't really want to drop a lot of cash into BTC with the market fluctuations, but where I live we pay $0.07/KWH so the energy costs are minimal. On top of that, the temps are getting colder and colder which means every Watt/Joule/BTU, whichever unit you want to convert it to, produced by my gpu's and cpu's means we pay less for NG to heat the house.

Ps. for those interested in using CPU cycles for something other than Seti or Folding, try Litecoin mining. I'm mining at litecoinpool.org. They offer both gui/cmd based miners as well as an online miner. I'm using the webminer until I get my HDD's for those rigs after which I will install Linux and have terminal based miners. It's not very profitable yet, but the difficulty is MAD low (we're talking "one's column" as opposed to BTC which is in the millions) and if you can get a nice sum of LTC, you can trade to USD or BTC on BTC-e.com. :)
 
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Where are you getting 5830s from? They are almost non existent haha.

I myself am going with 2 6970s watercooled (I need to game too here...) and each of my roommates are running a 6850. So we can pay for electricity ($0.105Kw/Hr) and internet, and I might have a bit extra for spending)

By the way, Litecoin? What is that a new currency, or difficulty altered bitcoin? Where is it traded?
 
Litecoin is a cpu mined currency like bitcoin. Some of the details are a bit different. Like the block times for LTC are every 2.5 minutes. The difficulty is much lower because it's a relatively new currency, and the total hash rates are nothing compared to BTC (we're talking Kilo hash not Mega hash).

But it's trades on www.btc-e.com to USD or to BTC so I'll mine it. :shrug: I mean, the difficulty is so low, in the 7 or so hours that passed between my posts in this thread, I've made 2.5 LTC.
 
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