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Bitcoins!

Discussion in 'General Software' started by pantherx12, Feb 17, 2011.

  1. MT Alex

    MT Alex

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    The Von Matrices says thanks.
  2. The Von Matrices

    The Von Matrices

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    Chevalr1c and MT Alex say thanks.
  3. NinkobEi

    NinkobEi

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  4. The Von Matrices

    The Von Matrices

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    Yes, I mine with my 3 7970s (~2.15 GHash/s) and I have about 10 coins that I don't plan to sell any time soon. I also have a 5 GHash/s Butteryfly Labs ASIC miner on order.
  5. Caenlen29

    Caenlen29 New Member

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    If you are living in a dorm room at college for 4 years, this is a great way to make money, just have 2x 7990's mining at all times, college pays the electricity bill. :rockout:
  6. Chevalr1c

    Chevalr1c

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    Keep on dreaming lad, that is only true when living on-campus studying at some superexpensive (US?) institute. I pay the bills myself.
    Crunching for Team TPU
  7. WhiteLotus

    WhiteLotus

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    I stayed in Halls all my Uni life because I get the all the bills paid for. And the University I go to, is well, a bit rubbish.
    Chevalr1c says thanks.
  8. james888

    james888

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    The cheap community college in my town has dorms that pay for electricity.
    Chevalr1c says thanks.
    Crunching for Team TPU
  9. Aquinus

    Aquinus Resident Wat-man

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    Don't talk about what you don't know. I went to a state university here in the US and the university took care of all utility costs when I lived on campus for 3 semesters, but I'm sure they factor that into your room and board which can cost just as much as tuition depending on where you go. Not to say the price is directly impacted but if the campus in general uses more electricity you will probably see what you're paying the school go up.
    Chevalr1c says thanks.
  10. Chevalr1c

    Chevalr1c

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    Fair enough.
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  11. Caenlen29

    Caenlen29 New Member

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    My college was a set a price each year, not to mention it didn't matter as it was on a scholarship, so my room and board was free. If I had known about Bitcoin then I probably would have grabbed me some top notch gpu's lol
  12. NinkobEi

    NinkobEi

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    Looking pretty stable there, Bitcoiners :)

    [​IMG]
  13. james888

    james888

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  14. Easy Rhino

    Easy Rhino Linux Advocate

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    on high volume days it drops. that is not a good sign.
  15. james888

    james888

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    Its a crash. Price was a bit high. It happens and should be expected to happen.
    Crunching for Team TPU
  16. The Von Matrices

    The Von Matrices

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    Just in case anyone is looking to pick up cheap graphics cards, the end of GPU mining is here.

    If electricity is 15¢/kWh, there is no longer any profit to be made mining with a 40nm GPU (HD 5000/6000 series). For people like me where electricity is really cheap (7.7¢/kWh). I calculated that I should turn off my 6970 when difficulty reaches 30 million, which should happen within a month.

    The 28nm HD 7000 series should last a little longer, but I calculated a difficulty of 40-60 million (15¢/kWh to 7.7¢/kWh) being unprofitable, which would be sometime around late July if the current trend of difficulty increase continues.

    Look for a flood of GPUs on the market in the coming months causing used GPU prices to crash. Keep your eye on the market and you might be able to snag a good deal.
  17. james888

    james888

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    I am thinking 2 months for me
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  18. silkstone

    silkstone

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    unless the price spikes again
  19. james888

    james888

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    Needs a big spike Asics should bring more bitcoins into existence faster than the difficulty rises for a bit flooding the market. Price should go down with the flood of asics.
    Crunching for Team TPU
  20. NinkobEi

    NinkobEi

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    So outside of batshit insane penny stock investment, what good are Bitcoins, what can you purchase with them? Just drugs/porn on the silk road? Why do they have value?
  21. silkstone

    silkstone

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    I got a $50 newegg voucher, with the little amount I had remaining, from a bitcoin auction site.
  22. The Von Matrices

    The Von Matrices

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    The more you post like this with the same argument over and over the more I'm beginning to suspect that you actually are very interested in Bitcoin. Are you one of the people who post bad news about Bitcoin (or any investment) in order to make its price drop, thus allowing you to buy cheap and profit after the price returns to normal?
  23. NinkobEi

    NinkobEi

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    No thanks. I wouldn't touch bitcoin if it were the last commodity on earth.

    The so-called 'market manipulators' do exist though and prey on common folk who do actually buy in to bitcoin, or the ASIC miners. There are so many bitcoin scams out there right now its unbeleivable. The whole thing is a ponzi scheme on top of a pyramid scheme.

    Look at this guy selling a BFL Miner. These things cost $2500 from BFL (the company is also a semi-scam but that's another story) and he's demanding 25k for it on ebay.

    http://www.ebay.com/itm/190857744643?ssPageName=STRK:MESELX:IT&_trksid=p3984.m1555.l2649
  24. The Von Matrices

    The Von Matrices

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    I didn't see that listing before, but I completely agree that it is outrageous. I like eBay for selling less expensive items, but as with a lot of expensive eBay listings, I would be willing to bet that none of the bidders are legitimate.

    There are a lot of people looking to scam uninformed idiots out of money, and the promise of Bitcoin is the latest way to lure them. However, unlike most scams, there are legitimate ways to make more modest amounts of money using the same techniques. But I think what is missed is that whatever people are buying the $20,000 miner are the same people that could have been just as easily duped by a 419 scheme or some other fraud. I don't think these fools are unique to Bitcoin.

    As for BFL being untrustworthy, I agree with you as well. I have an outstanding order for a 5GH/s ASIC miner, and of course it's delayed. Even better, BFL just sent me an email telling me that I could upgrade to a 7GH/s miner if I was willing to put down a non-refundable pre-order, meaning I couldn't even cancel the order if was scheduled to ship after it became unprofitable to use. I am seriously considering cancelling my 5GH/s miner and waiting until products are actually in stock (at any company) before placing another.
  25. McSteel

    McSteel

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    When will everyone realize that there will NEVER be any ASIC miners up for actual sale?

    Why slay a golden goose?

    All these people do is take out loans with 0% interest, because after a while, pretty much everyone just gives up and takes their refund. After their money has been put to very good use, developing the ASIC, which it's creator(s) will go on to using themselves.

    Why would I sell you a 250 GH/s machine for even $50k? I could mine at the very least that much in a month!

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