bitcoin

but how does it harder? do they make sure you have to use some newer, slower mining algorithm that makes your crazy fast quantum GPU from the future bend over backwards to spill out a 32 character code every two weeks..?

edit: i think there might be better, more rewarding use cases for fast GPUs.

yeah I don't exactly know how it gets more difficult, I think that's hardcoded in the software to get exponentially more difficult over time. but the crypto shit that the collective power of all the miners are checking is there so the system doesn't get hacked, unless there would be way more computing power at the hacking side of things.

it's actually kind of cool and nifty and definitely , but if you take a step back and look at it, it's still a huge waste of resources.

so there's this blarticle on gawker about drug trading side Silk Road: http://gawker.com/5805928

which processes payments through bit coins.. which is kinda yes. hm..

  On 6/2/2011 at 3:57 PM, phling said:

so there's this blarticle on gawker about drug trading side Silk Road: http://gawker.com/5805928

which processes payments through bit coins.. which is kinda yes. hm..

whoa

my nvidia graphics card makes LSD.

  On 6/2/2011 at 10:42 AM, ZiggomaticV17 said:

I'd just like to say I've made $425 off this. And currently 1 bitcoin goes for like 8 bucks.

anyone still following this stuff? i think right now 1 bitgoin is going for $28

fucking insane, this whole bitcoin thing.

a few things: it's going to be awhile before this is a self-sustainable, functionally useable currency—right now it seems almost entirely speculative and investment-geared.

also, i fucking hate how i never tried to get bitcoin—there are people who have literally made tens of thousands. though, granted, a lot of the recent inflation is totally thanks to the news reports covering it and silk road. (why is there not a deep web thread on watmm?)

lastly, i was contemplating starting this thread, props to OP

loks like a great way of people with money to get more money

obama will be pround

  On 6/8/2011 at 11:00 PM, sup said:

loks like a great way of people with money to get more money

 

obama will be pround

you don't know what you're talking about. bitcoin started out at ~$0.005/bitcoin, now it's ~$24/bitcoin. it's not about the rich getting richer :sup:

  On 6/8/2011 at 10:29 PM, underscore said:

  On 6/2/2011 at 10:42 AM, ZiggomaticV17 said:

I'd just like to say I've made $425 off this. And currently 1 bitcoin goes for like 8 bucks.

 

anyone still following this stuff? i think right now 1 bitgoin is going for $28

Hooray for inflation!

do u have a computer

Can't remember if I posted in the other topic or not... but yea, this seems like a shitty idea. The developers probably just wanted to get mega rich by creating their own currency that they can create more of should they please.

um I had an ominous thought because wasn't the Tucson Arizona guy saying something about inventing our own currency

  On 6/8/2011 at 11:33 PM, sup said:

do u have a computer

no do u?

yes

cool

thanks :sup:

  On 6/8/2011 at 11:34 PM, AcrossCanyons said:

The developers probably just wanted to get mega rich by creating their own currency that they can create more of should they please.

That actually sounds...hmm...*eyes turn to dollar signs, cash register noise*

I still don't get it. So do you set up a PC and run the bitcoin client, and just let it run and it accumulates bitcoins? No work necessary? Sounds too good to be true.

  On 6/8/2011 at 11:14 PM, chenGOD said:

  On 6/8/2011 at 10:29 PM, underscore said:

  On 6/2/2011 at 10:42 AM, ZiggomaticV17 said:

I'd just like to say I've made $425 off this. And currently 1 bitcoin goes for like 8 bucks.

 

anyone still following this stuff? i think right now 1 bitgoin is going for $28

 

Hooray for inflation!

y u h8in

  On 6/9/2011 at 4:34 AM, rumbo said:

I still don't get it. So do you set up a PC and run the bitcoin client, and just let it run and it accumulates bitcoins? No work necessary? Sounds too good to be true.

http://www.bitcoin.org/

  On 6/8/2011 at 11:33 PM, sup said:

do u have a computer

lol touche

mt.gox, the biggest bitcoin exchange just got hacked and everyones emails and encrypted (and apparantly easily brute forced) passwords are now out there roaming the wildernets. caused a huge scare.

my password and email are in there too. i didnt trade but i have no idea what password i used to register with, lol.

cynics may now gloat smugly and laugh at the misfortunate of others.

oh god, apparantly a hacker got control of one enormous hording account on mt.gox containing shitloads of bitcoins. no one really seems to know whats happened, including mt.gox.

complete market crash.

yeah had to happen, bitcoins value have gone through the roof as of late, attracting a lot of attention.. it's like magic the gathering all over again, and some lucky dudes are sitting there with a stack of black lotus'... it will probably stabilize lower once this wave has passed.. I was reading one thread somewhere about a dude buying mining gear for over 10000 dollars and now that there was a slight drop he figured that he couldn't make the money back he invested haha.. gold russshhhhhhhhhh.