pandemonium
Golden Member
- Mar 17, 2011
- 1,777
- 76
- 91
We've come a long way but the journey is just beginning. Once a critical mass is reached in terms of market-wide adoption and acceptance by major stores/banks, then we will reach the crazy phase (as if it isn't going up like crazy enough already!).
I'm confused as to where this all heading. Right now, I cannot see it being adopted when it keeps changing in value. One week a computer might cost 1BTC. The next month, 1.5BTC, and the next, 1.2BTC and so on. And then if it does become adpoted as an official currency, doesn't that kind of defeat the whole purpose of it?
I think we'll soon to be getting to the good part of this experiment.
I looked into the Red Furys and found they would take ages to make any significant profit. Even that profit relies on Bitcoin staying at like $500+. And by that time when the cost of device is covered the difficulty will be so high that they'll be near useless. Basically its just as much of a risk as buying Bitcoins directly. That said the online profitably estimators differ wildly so maybe I'm wrong.
I still run a few Block Erupters that I'll keep going until the power costs out-way the revenue but they're basically making pennies at this point.
The mods should really move this topic to another forum. Nobody in their right mind is mining bitcoins with video cards anymore!
Even Litecoin mining with a video card isn't really profitable anymore unless your electricity is cheap.
That was true until the massive spike in Litecoin price a few days ago. Now it's profitable for everyone until the global hash-rate (And thus difficulty) rises to equilibrium again.
If you don't believe me, here you go
http://dustcoin.com/mining
Looks like I would only be making a couple of cents an hour unless I mined BBQCoin.
Seriously... BBQCoin is making another comeback?!?
it should be a sticky on video cards with a we moved it to 'whatever' link .
a tech helped many of us to get into mining with this thread.
Actually, mining started with CPUs and distribute computing.
Imho, stickies should be for only the most important topics like forum announcements or when new video cards launch. Else you wind up with clutter due to having a bunch of stickies.
Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?
-ViRGE
Considering that video cards are no longer fast enough to suitably participate in (and profit from) Bitcoin, I've had a request come in that this be moved over to the Distributed Computing forum. Are there any objections to this?
-ViRGE
Its confirmed, I just lost 8 BTC through the MotherF**** MTGOX MY USD$ somehow mysteriously converted to BTC and transferred to an unknown address when I tried to withdraw to my bank account Completely heartbroken
Maybe some of you nice folks here can spare me some BTC
IDK why anyone would trust Mt.Gox for anything. Use BTC-E.
I already learned my lesson...thank god my only 1 BTC remaining was not transferred to MGTGOX..