bitcoin's going up

[abyssal_miss]

was at $25+ a month and a half ago. High right now is $62

https://mtgox.com/

Anyone remember what happened last time this inflated? Expect it to get much larger this time. If you've got money sitting in an RRSP, STOCKS, Bank account.

Take it out and stick it on this for a double up in about 2 months, possibly triple.

I watched it go from $48 3 days ago to $60+
Fucking nuts...

 

[bigcasey123]

I want to buy so bad but i'm one of those people who hate spending money (even if it makes me more)....

 

[ok888]

Wow increasing really fast


Maybe i should stack some bitcoin as well

 

[acotut]

Wow,bitcoins are really getting higher day by day.If someone would've told me 3 months ago about bitcoins getting as high as 60$,I would've call him cra.. Over-optimistic

Expect a huge demand for mining devices aswell!

 

[ShadeDream]

I want to buy so bad but i'm one of those people who hate spending money (even if it makes me more)....

Bullshit. Sounds more like "I want to buy but I don't have the money."

 

[MaverickonRoids]

Wow,bitcoins are really getting higher day by day.If someone would've told me 3 months ago about bitcoins getting as high as 60$,I would've call him cra.. Over-optimistic

Expect a huge demand for mining devices aswell!

Yes, mining devices will be in huge demand for sure, moreso than before.

BTW, I remember BT used to be around $12 not too long ago. My how things change in a short time.

 

[KeyzDT]

I know what you mean. I wanted to buy something online and the seller only accepted bit coins. I was like wtf I remember those things.....now im seeing more about them then ever before....anyone know why this trend is back? are they safe? whats the deal with them?

 

[Narrator]

That's cool, but how are bitcoins related to SEO?

 

[garrido]

How can I buy bitcoins?

 

[Banned member 185991]

There was a news post a week ago about how they are the most stable currency on the planet.

Might invest 200 or so and see what happens.

 

[TapTapper]

I know what you mean. I wanted to buy something online and the seller only accepted bit coins. I was like wtf I remember those things.....now im seeing more about them then ever before....anyone know why this trend is back? are they safe? whats the deal with them?

wiki is your friend

 

[MaverickonRoids]

For all you guys thinking about starting mining, here is a site that can help you a great deal. It did me. It tells you how long it will take to generate 1 bitcoin. Great site!

http://beta.ivc.no/bitcoin/calc/

Enjoy.

 

[MaverickonRoids]

Oh my. I just did a calculation using the lowest mining rig that will be shipped soon (4.5 GH/S), and this is the results for the current market:

[TD="bgcolor: #F1F1F1"] Difficulty: [/TD]
[TD="bgcolor: #F1F1F1"] Get current difficulty level [/TD]

[TD="bgcolor: #F1F1F1"] Hashrate: [/TD]
[TD="bgcolor: #F1F1F1"] Mhash/s [/TD]

[TD="bgcolor: #F1F1F1"] Exchange rate: [/TD]
[TD="bgcolor: #F1F1F1"]

Bitcoin:

USD

[/TD]

Time to generate one block to earn 50 Bitcoins on solo mining:

[TD="bgcolor: #F1F1F1"] Average time: 53 days, 13 hours, 12 minutes, 54 seconds [/TD]

Expected earnings:
[TABLE="width: 300"]
[TR]
[TH="bgcolor: #EAEAEA"]
[/TH]
[TH="bgcolor: #EAEAEA"]Bitcoins[/TH]
[TH="bgcolor: #EAEAEA"]Dollars[/TH]
[/TR]
[TR]
[TD="bgcolor: #F1F1F1"]Per day:[/TD]
[TD="bgcolor: #F1F1F1"]B0.93[/TD]
[TD="bgcolor: #F1F1F1"]$55.80[/TD]
[/TR]
[TR]
[TD="bgcolor: #F1F1F1"]Per week:[/TD]
[TD="bgcolor: #F1F1F1"]B6.54[/TD]
[TD="bgcolor: #F1F1F1"]$392.40[/TD]
[/TR]
[TR]
[TD="bgcolor: #F1F1F1"]Per month:[/TD]
[TD="bgcolor: #F1F1F1"]B28.01[/TD]
[TD="bgcolor: #F1F1F1"]$1680.60

[/TD]
[/TR]
[/TABLE]

This rig currently goes for $149, so yeah, um....I think I will purchase it to get my feet wet. Seems to be shipping this month, sometime before the end of the month. I emailed the company to get the current status.

***EDIT*** Forgot to mention which mining rig that I used for this calculation. It's "Jalapeno" from Butterfly Labs.

 

[aka sam]

Looks awesome. Let me give it a try...

 

[fad3r]

Mingung ends up costing more In electricity then the bit coin is worth.

 

[MaverickonRoids]

Mingung ends up costing more In electricity then the bit coin is worth.

Did you even checkout the Butterfly Labs site? If you did, you will know that this rig only uses around 4.5 watts, which is something similar to a very small electric fan. Times a changing, compared with running rigs on a GPU setup.

***EDIT*** If anyone wants to talk BT, hit me up on Skype, robamy6.

 

[fad3r]

Did you even checkout the Butterfly Labs site? If you did, you will know that this rig only uses around 30 watts, which is something similar to an electric fan. Times a changing, compared with running rigs on a GPU setup.

Somehing happened in december or november which was some kind of cut off which makes mining them inefficient. I could probably find the article if it is that big a deal. If it works for you that's great homie. I have quite a stash of bitcoins I got quite cheap so i'm good. I hope you make it work.

 

[MaverickonRoids]

Somehing happened in december or november which was some kind of cut off which makes mining them inefficient. I could probably find the article if it is that big a deal. If it works for you that's great homie. I have quite a stash of bitcoins I got quite cheap so i'm good. I hope you make it work.

If it's an article for BT mining, it probably didn't mention ASIC setup as it's very new. It's highly touted as the next big thing, so this article better be written by someone highly knowledgeable about rigging, otherwise it's just hearsay or flat out lies.

 

[abyssal_miss]

hey, you got the prices wrong. apparently it's $25 per block, so half that calculation. And ASIC is on back order.

 

[Paco De Lucía]

Somehing happened in december or november which was some kind of cut off which makes mining them inefficient. I could probably find the article if it is that big a deal. If it works for you that's great homie. I have quite a stash of bitcoins I got quite cheap so i'm good. I hope you make it work.

In December, the amount of coins mined in a single block was cut in half. It doesn't matter, because the price has more than doubled since then. The problem is, BL Labs and other producers of ASIC mining rigs have waiting lists that are months long and are incredibly behind schedule, so you aren't going to really make any money mining BTC even if you have one of the old FPGA rigs.

Last time everyone thought BTC was going to skryocket "without limit", it crashed horribly. I'm waiting for this to happen soon. All those people that bought BTC and mining rigs are about to have the shirts taken off their backs..