Author Topic: bitcoins  (Read 5887 times)

pdrake

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bitcoins
« on: April 10, 2013, 08:36:36 PM »
anyone here have any or have any interest?
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stormneedle

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Re: bitcoins
« Reply #1 on: April 10, 2013, 10:28:57 PM »
Not really. I thought about adapting the mining software to VMS and running it in the back room, but, meh.
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pdrake

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Re: bitcoins
« Reply #2 on: April 10, 2013, 10:41:45 PM »
from what i've read the mining software only runs (well) on powerful gpus. i just bought a high end card with cuda processing so i was wondering if it might be worth it to have my work machine mine. hey, free money!
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mo

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Re: bitcoins
« Reply #3 on: April 11, 2013, 08:09:04 AM »
Only in the general sense. I've been curious about it at times and tried to read up on it, but I kept getting distracted by all the warning klaxons going off in my head. Or maybe I need Morgan Freeman to show up and explain it to me.

It's symbolic of our struggle against reality.

random axe

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Re: bitcoins
« Reply #4 on: April 11, 2013, 11:57:56 AM »
I remember hearing a lot about them back when it was considered a game-changing government-subverting dealio, but then it got quiet for a few years, and now it's a high-risk investment game.

:shrug:

I can't seem to work up any interest.  And neither can bitcoins, at the moment.

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Re: bitcoins
« Reply #5 on: April 11, 2013, 12:13:04 PM »
Yeah, didn't I read bitcoin's stock prices are in free fall yesterday? I didn't rtfa, but they were making it sound like the vultures were circling
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pdrake

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Re: bitcoins
« Reply #6 on: April 11, 2013, 01:17:15 PM »
so today i downloaded a mining client on my work machine. even with my high end graphics card (quadro 4000) it was mining at .00018 per day. that means i'd have about 2/3 of a coin in a year.  :whatever:

i don't think i'll waste the energy.

i guess the people really making the money have huge stacks of boards dedicated to this. once again, it takes money to make money. :bummed:
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random axe

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Re: bitcoins
« Reply #7 on: April 13, 2013, 12:47:40 PM »
That's part of the point of the setup they went with.  Over time, bitcoins become harder and harder to produce, plus the global supply only grows slowly and at a decreasing rate, plus there's an ultimate limit to how many there can be.  (Unless computing changes vastly in relevant ways, which may or may not be a safe bet.)

So all of that tends to theoretically make the value keep going up, at least for now, but naturally there will be some considerable fluctuations.

pdrake

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Re: bitcoins
« Reply #8 on: April 16, 2013, 08:02:08 PM »
mining farm

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phyre

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Re: bitcoins
« Reply #9 on: April 20, 2013, 06:13:56 PM »
I've thought about it idly, but clearly missed the boat. I have a desktop sitting at home pretty much just taking up space (i torrent on it a couple of times a week, but that's about it) which could be better spending it's time, but it looks like I'd probably wind up having the same issue as PDrake, really slow mining.

Meh. I'm still just trying to make an honest living. Who needs virtual currency?
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Min

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Re: bitcoins
« Reply #10 on: April 21, 2013, 05:00:19 PM »
Phyre, you know Val is into it.  Enrique's work buddies talk about it all the time and so he asks me if any of my nerd friends do it.  I've been meaning to ask but now I don't have to.  He may have questions though so I may pop back in with a few.

the other andrea

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Re: bitcoins
« Reply #11 on: April 24, 2013, 11:24:47 PM »
I tried to follow an explanation of what Bitcoin(s) is/are, but I still don't get it. :shrug:
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pdrake

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Re: bitcoins
« Reply #12 on: April 25, 2013, 12:51:52 AM »
pogs
beenie babies
marbles
widgets
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the other andrea

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Re: bitcoins
« Reply #13 on: April 25, 2013, 03:48:48 AM »
That's what I thought.  :lol:
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Psidefect

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Re: bitcoins
« Reply #14 on: April 25, 2013, 06:52:46 AM »
I'm sort of marginally interested. I've considered getting one of these.

The math has so many variables that it's hard to get a handle on how long it takes to mine a coin (and even harder to figure out what that coin will be worth when you get it), but it's kind of an idle curiosity and $280 is a relatively low cost of entry. If I lost all of it (relatively unlikely) it wouldn't put me out on the street.

I don't think Bitcoin is going anywhere any time soon (I mean that in both a positive and a negative way) and I am attracted to the idea of currency that's free of a traditional government. Dunno if I'll bother actually getting one, but it's fun to think about.
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