What are the chances of the bottom falling out of this in the next 60 days I wonder. Doing some math it appears it this could possibly pay for a 6990.
To me, it seems that it's really all about perceived worth. I'd say that BitCoins are going through a sort of "gold rush" in that people realize that with a relatively small investment, they might possibly make a decent amount of money. Although, from what I understand, it seems that the people who stand to make the most money are those who started at least a few months ago. The difficulty to process the hashes was lower and now after the article was published on BitCoins, they saw a huge increase in value of however many they had hoarded.
I'm still a bit way over BitCoins though. It seems the only people taking them seriously are the people trying to mine them as I've seen people selling goods with BitCoins as tender. If the difficulty level raises too high and people realize that it will take them way too much of a hardware investment to create a decent amount of money... will they just give up and the hardware craze die down? If that happens... who is actually going to accept BitCoins as tender?
People/Businesses need to be willing to accept these things for transactions for them to maintain a significant and non-overinflated worth.
I'm certainly no economist though and it's really only my thoughts on the matter. I'm not worried though... I've spent nothing on this excluding the electrical costs, but I doubt I'll notice the increase versus what I'll be paying with my air conditioning coming on as much as it has lately .
EDIT:
Consider what may be recovered by selling the device after a potential crash. Presumably, the 6990's value will be more affected by feature and performance comparisons to 7000 series and will hold up well for gaming in any case. Whereas 5000 series prices are inflated by mining so have the most to lose.
I'm actually tempted to try and sell my 5870 now if I can get a premium for it. Why worry about BitCoin mining when I can simply milk the fervor created
by the mining itself. If the 7000-series is coming out soon, I could put the money toward that and just move my 6950 to my older machine (where the 5970 currently is).