World's Leading Bitcoin Exchange, Mt.Gox, Acquires MtGoxLive.com

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MtGox.com has agreed to acquire MtGoxLive.com, the largest independent provider of bitcoin related web and mobile applications and services. This move strengthens MtGox.com's portfolio, with the host of applications and services that will be joining the MtGox.com family of services. MtGoxLive.com began as an enhanced real-time view of the price resistances within the MtGox.com bitcoin exchange.

Not up to speed on Bitcoin? I highly recommend our Bitcoin Mining GPU Performance Comparison article.
 
Lol, over the BTC forums they've been saying we need more media coverage to drive the price back up. I wonder who owns some Bitcoins...;)
 
Dan_D said:
Am I the only one who still thinks Bitcoin is stupid?
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Your missing the gold rush apparently :p

I just wished theyd do something more...useful with all the cycles, instead of churning around doing nothing. Would be great if they could be used for something similar to folding@home while doing what it did.

I think when a proper retailer allow you to buy stuff at a significant discount via bitcoins I could see more point in spending time on them.
 
DeathPrincess said:
I just wished theyd do something more...useful with all the cycles, instead of churning around doing nothing.
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It's not doing "nothing". All those computations are what verifies all of the transactions that occur and generates new blocks of coins. The insanely complex cryptography involved, and thus the huge amount of processing power put into it, is necessary to keep the system secure. If the cryptography was made simpler and some of the processing was used for another task, it would be much easier for someone to hack the system.

But yeah, I find the whole idea a little silly. However, the $800 or so I've cashed out so far makes me take it fairly seriously.
 
I'm more interested to see how this turns out. I'd like to see what happens to a currency not backed by a government; which can't simply be printed out in vast amounts of useless paper even if you wanted too. Honestly it'll probably be much more stable than the dollar if it ever catches on, but not as tamper proof as gold.
 
Parja said:
But yeah, I find the whole idea a little silly. However, the $800 or so I've cashed out so far makes me take it fairly seriously.
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+1 hard to argue bitcoin is not profitable...
 
Parja said:
It's not doing "nothing". All those computations are what verifies all of the transactions that occur and generates new blocks of coins. The insanely complex cryptography involved, and thus the huge amount of processing power put into it, is necessary to keep the system secure. If the cryptography was made simpler and some of the processing was used for another task, it would be much easier for someone to hack the system.

But yeah, I find the whole idea a little silly. However, the $800 or so I've cashed out so far makes me take it fairly seriously.
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I know it's doing stuff, but at the end of it, all the "stuff" that it is doing is pointless. Its a load of computational cycles that with all the miners adds up to probably some serious computational power, and yet all it does is nothing other than transfering one currency into another. I'm surprised noone has made a distributed computers for hire kind of thing, where organizations/researchers could pay to use this kind of power.
 
DeathPrincess said:
I know it's doing stuff, but at the end of it, all the "stuff" that it is doing is pointless. Its a load of computational cycles that with all the miners adds up to probably some serious computational power, and yet all it does is nothing other than transfering one currency into another. I'm surprised noone has made a distributed computers for hire kind of thing, where organizations/researchers could pay to use this kind of power.
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No one wants to pay for it. They want people to "donate" it.
Donations don't pay the power bills.
 
DeathPrincess said:
I know it's doing stuff, but at the end of it, all the "stuff" that it is doing is pointless. Its a load of computational cycles that with all the miners adds up to probably some serious computational power, and yet all it does is nothing other than transfering one currency into another. I'm surprised noone has made a distributed computers for hire kind of thing, where organizations/researchers could pay to use this kind of power.
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The concept is that Bitcoin mining is similar to gold mining, in that some of the inherent value is based on the resources required to extract/generate it. The rarity and cost of extraction is one of the reasons why precious metals are a traded commodity, and at times used as a backing for currency.

I, however, am of the opinion that gold is the world's oldest bubble, and that it's current value is largely a remnant of ancient man's fascination with it as a shiny object. If gold were priced purely based on it's value industrially (the fact that it is chemically inert, is a good conductor, etc), I don't think it would be anywhere near what it's current "market value" is.
 
OldSchool said:
The concept is that Bitcoin mining is similar to gold mining, in that some of the inherent value is based on the resources required to extract/generate it. The rarity and cost of extraction is one of the reasons why precious metals are a traded commodity, and at times used as a backing for currency.

I, however, am of the opinion that gold is the world's oldest bubble, and that it's current value is largely a remnant of ancient man's fascination with it as a shiny object. If gold were priced purely based on it's value industrially (the fact that it is chemically inert, is a good conductor, etc), I don't think it would be anywhere near what it's current "market value" is.
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Welcome to real life, where a lot of shit is "worth" more than its intrinsic value.
 
fps4ever said:
Yeah, can't you see it keeps the power companies in business! That is much better than folding for a cure... :rolleyes:
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How about you let people do what they want with their computing resources and mind your own business? If you don't like the concept, stay away from it.
 
Aseras said:
yeah too bad nearly everyone dropped mtgox and ran
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Thanks for the laugh. Not even all of the other exchanges combined have half the volume as mtgox. ;)

cantrollsdomath.jpg


Silly S|A trolls
 
I understand why many of you think its "stupid" or "waiting to fail" but seriously there is money to be made if your willing to make it. And yes its a new form of currency and yes its likely being used for nefarious purposes but its also mostly being used for non-nefarious purposes as well , its like any other currency on the planet.

I think people who dismiss it out of hand don't understand it or don't care to.
 
Godmachine said:
I understand why many of you think its "stupid" or "waiting to fail" but seriously there is money to be made if your willing to make it.
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That's the problem with bubbles, everyone makes money, until one day they don't and the whole thing evaporates overnight.

Do it for fun. Do it if it justifies building a kick-ass new rig you'll enjoy using for other things (or building it in the first place). Do NOT build a home server farm for the sole purpose of "mining".

Do NOT expect it to be there tomorrow. It probably will still be here, but it might not. Bubbles are ephemeral.
 
Godmachine just wants everyone to do it...he forgets that in some states/countries the cost of electricity is much higher and it might not be cost effective to create the virtual monopoly money. And to truly make any ecash takes a few beefy rigs or server farm. freaking fanbois...
 
STR said:
Do it for fun. Do it if it justifies building a kick-ass new rig you'll enjoy using for other things (or building it in the first place). Do NOT build a home server farm for the sole purpose of "mining".
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THIS
I do it because I had the hardware before, just lucked out. However it has paid for a very nice upgrade to the rest of my rig and allowed me to justify spending additional money on water cooling, which I'm having a good time doing and have been wanting to really get into for a long time. Laugh all you want, but many of us are laughing all the way to the bank, or at least Newegg.
 
I had never heard of Bit Coin until early this year, sounded like some sort of in game activity that would get you banned, kinda interested if it would make money for me, not greedy, just want to get rid of some debt.
 
I personally think TradeHill is a better option but time will tell.
Going to be interesting to see where it all goes.
 
$600 cashed out and over $1000 in the pipe waiting. Free electricity here is a nice bonus.
 
fps4ever said:
Godmachine just wants everyone to do it...he forgets that in some states/countries the cost of electricity is much higher and it might not be cost effective to create the virtual monopoly money. And to truly make any ecash takes a few beefy rigs or server farm. freaking fanbois...
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and the federal reserve note is not monopoly money?
 
TheGer said:
$600 cashed out and over $1000 in the pipe waiting. Free electricity here is a nice bonus.
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you can't expect to drop this one liner and be let off the hook! :p

I've got CF 6870s but I haven't had the time to set everything up. Hopefully soon.
 
so I'm curious...who is buying these? I mean, I see you guys bragging about your earnings but if it's real cash money who is paying? Is it closer to less than a few buying them all up? Or is it everyone...like every third person is buying bitcoins for cash or...?
 
I think it is a combination.

Some nerds hording them...figuring they are in on the ground floor of a new era.

Judging from some of the technical action lately, some actual wall street banksta monies starting to play, probably not long before we have straight up squid HFT algos up in it.

Some criminals of various levels of organization laundering wealth through a mechanism that is clearly well out in front of regulators.

Some libertarian rebels from across the right/left spectrum jumping on any opportunity to stick it to the central banking cartels.

And some sober folks hedging their positions across every vehicle they can find...the writing is not just on the wall that the USD is finished as the world reserve currency folks...the writing is starting to fade, it has been up there a couple summers now.
 
NKDietrich said:
It's a stupid pyramid scheme. Everyone who got in early cashed in, everyone else is running up their power bill for scraps.
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Lots of us didn't get in early (its been around since 2009, I only got involved in May or so of this year) and more than paid for my mining hardware. Scraps...I guess. If bitcoin values drops to zero and then dies, yes, some people will be hosed. That's the nature of new things...sometimes they fail.

Sounds to me like a lot of people are jealous and don't understand what its about. Fine. Stay out of it then. Let the people who are willing to take some risk reap the rewards.

The hilarious part is the people who really don't know anything about it insulting others for playing with it. As far as hating on the early adopters, I supposed you hate the idea of capitalism and entrepreneurship, people who get in early, and take the most risk, reap the most rewards. That's how the game is played. So... all those people who get involved with the web and made big bucks before the dot.bomb...they are all bad people too right? They rest of us who got involved later are dogs feeding off the table scraps?

Anger and jealousy at the unfairness of life. Grow up, kids. If you can't handle risk and new things, stay out of the way, but don't look down on others who are willing to give it a shot because you are too scared.
 
Well put my friend. Jealousy and laziness go hand in hand. I sense a little of both in previous posts.

@ previous poster not letting me off the hook ok ok.

I'm running 4 systems on free electricity:

i7 w/ 2x 6950's(1 reference unlocked)
i7 2/ 6950 and 6970
i3 w/ 2x 6950
1955T w/ 2x 5870 Vapor-X OC

All 100% paid for with Bitcoins.

Monkey God said:
Lots of us didn't get in early (its been around since 2009, I only got involved in May or so of this year) and more than paid for my mining hardware. Scraps...I guess. If bitcoin values drops to zero and then dies, yes, some people will be hosed. That's the nature of new things...sometimes they fail.

Sounds to me like a lot of people are jealous and don't understand what its about. Fine. Stay out of it then. Let the people who are willing to take some risk reap the rewards.

The hilarious part is the people who really don't know anything about it insulting others for playing with it. As far as hating on the early adopters, I supposed you hate the idea of capitalism and entrepreneurship, people who get in early, and take the most risk, reap the most rewards. That's how the game is played. So... all those people who get involved with the web and made big bucks before the dot.bomb...they are all bad people too right? They rest of us who got involved later are dogs feeding off the table scraps?

Anger and jealousy at the unfairness of life. Grow up, kids. If you can't handle risk and new things, stay out of the way, but don't look down on others who are willing to give it a shot because you are too scared.
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TheGer said:
Well put my friend. Jealousy and laziness go hand in hand. I sense a little of both in previous posts.

@ previous poster not letting me off the hook ok ok.

I'm running 4 systems on free electricity:

i7 w/ 2x 6950's(1 reference unlocked)
i7 2/ 6950 and 6970
i3 w/ 2x 6950
1955T w/ 2x 5870 Vapor-X OC

All 100% paid for with Bitcoins.
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Wow, Wow, Wow.

Like a few others in this thread; I have heard of BitCoins but didn't think much of it and considered something like S&H green stamps or something.
The fact that you can set up a GPU heavy rig and have a literal "Money machine" is hard to ignore.
The question I have is what is the mining rig actually DOING? What is it crunching one that is has value is deemed profitable??
 
Dr. Righteous said:
Wow, Wow, Wow.

Like a few others in this thread; I have heard of BitCoins but didn't think much of it and considered something like S&H green stamps or something.
The fact that you can set up a GPU heavy rig and have a literal "Money machine" is hard to ignore.
The question I have is what is the mining rig actually DOING? What is it crunching one that is has value is deemed profitable??
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If you want to know what the client actually does, its basically crunching SHA-256 hashes. Some of it used to keep the network up and functional, and some of it is busy work to generate the bitcoins. The bitcoins are kept or sold for Dollars or Euros or whatever.
 
Dr. Righteous said:
The question I have is what is the mining rig actually DOING? What is it crunching one that is has value is deemed profitable??
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The more you try and understand it, the more your brain is going to hurt..
Lorien down in the DC section helped me out a lot.. Worth a read thru on the BTC Discussion Pt 2
 
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