Hover over that little "i" next to it, please.
Stupid Bitcoin miners screwed up the price of the card and I can't find any MFG selling it for its retail price of $399. I was waiting until my check got in for this month before I bought it and now I'm screwed until...who knows?
Does anyone know anywhere still selling the thing for $399?
At least I can take solace in the fact these bitcoin idiots don't realize what diminishing returns and depreciation of value mean.
Have you found one yet?
I was helping a customer yesterday and learned that CDW had a few in stock. Not sure if there are any left by now. (I just did a quick search and didn't find any on NewEgg, TigerDirect and Amazon).
I think the best thing to do is setting up email alerts or notifications...
The used video card market is big and important?
Where is the money coming from behind the bitcoin/Litecoin/Anycoin thing? You can't just generate money from nothing and the original values had to come from somewhere with REAL money backing them, and why are they worth what they are worth?
I can see this is the reason for the rise in pricing if corps are buying them all up.
These "coins" are a mathematical result to a function. The function was designed from the beginning to have a mathematical finite number of results, of which the difficulty in obtaining a valid result grows in complexity as the number of results are found. This creates a computational requirement to generate a valid result that is increasing in complexity as time goes on. Due to the finite number, and computational requirement of producing a result, along with a subsequent creation of ways to cryptographically save and transfer the result using various methods which impart a level of anonymity to the people performing the transaction, bitcoins have a speculative market value (just like shares of stock). Initially bitcoins were basically a token that ensure a measurement of computational activity occurred and was a way to "pay" to prove that you had performed a calculation.
As more and more people see the benefits of anonymous payment/holdings/etc., and as more and more services accept bitcoins (or provide exchanges to convert other forms of currency for bitcoins and vice versa), their "value" has grown. I'm still kicking myself for not buying as many as I could when they were around $0.005 per bitcoin. There is an article out there about a research student who bought about $30 worth of bitcoins back in 2008 or 2009 for doing a paper and then forgot about them. Only a few months ago when news articles were popping up right and left about their huge price explosions did he remember he bought a bunch, figured out what username/password he stored them under and saw they were now worth almost $1million.
I know basically what you said. What I still don't understand is why one would pay real money for the results of these functions. Is there some practical value to the results? In other words, where does the real money come from and how are the people that provide the real money making money themselves.
I know basically what you said. What I still don't understand is why one would pay real money for the results of these functions. Is there some practical value to the results? In other words, where does the real money come from and how are the people that provide the real money making money themselves.
Exactly. What is the reasoning behind all this that a "result" actually became a monetary value? I mean, why hasn't Folding @ Home become a monetary value? It produces results too. MilkyWay@Home, WCG, the list goes on infinitely.
When and How did bitcoin become money. It's like asking what caused the big bang and probably just as hard to explain.
BTW thank you Kell for trying to explain it.
I know basically what you said. What I still don't understand is why one would pay real money for the results of these functions. Is there some practical value to the results? In other words, where does the real money come from and how are the people that provide the real money making money themselves.
Bitcoin is worth money, because people see value in the system that it's based on. There is no central control. You can transfer money anywhere in the world almost instantly etc. Bitcoin itself might not be the one that makes it, but people see the value in what Bitcoin is or is trying to be.
Mining is just the part of the system that releases the coins, and confirms the transactions. Getting a result, results in coins, because mining is a vital part of making sure the system works.
But while we're at it, why in the hell does a piece of paper have value? It's only because people accept that it's worth something, and nothing else.
The paper is just representative of Federal Reserves promise to make good on the note with something of real value. Gold for example.
Bitcoin is worth money, because people see value in the system that it's based on. There is no central control. You can transfer money anywhere in the world almost instantly etc. Bitcoin itself might not be the one that makes it, but people see the value in what Bitcoin is or is trying to be.
Mining is just the part of the system that releases the coins, and confirms the transactions. Getting a result, results in coins, because mining is a vital part of making sure the system works.
But while we're at it, why in the hell does a piece of paper have value? It's only because people accept that it's worth something, and nothing else.
Not since the 50s.
Why in the world does it matter? No one cares in the slightest if the system is not based on some idealistic monetary structure.But it started out that way. It had a logical and tangible beginning.
You see the difference I am trying to point out?
"Real" currencies do not have this issue. The dollar isn't going to lose 80% of its value overnight.
But it started out that way. It had a logical and tangible beginning.
You see the difference I am trying to point out?