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Bitcoin what?

Don't misplace your wallet, else you may regret it later (speaking from personal experience, as someone who cannot find the VHD which contains the bitcoins he solo mined before the gold rush.)
 
Archonius said:
Yeah this is really annoying. I was putting off my big rig upgrade until 2014 and of course now, not only have prices not dropped, they have actually increased quite a bit since I last looked. All I want to do is play some video games on high quality for once lol. I don't care about mining cat coins or whatever the hell the newest rage is.

Hopefully this all collapses soon and I can pick up a solid card or two for CHEAP :D
Click to expand...

I'm in the same boat as I was holding off till BF4 was getting the kinks worked out. I'm hoping for a bubble to burst and see the prices drop dramatically.
 
TangledThorns said:
I'm in the same boat as I was holding off till BF4 was getting the kinks worked out. I'm hoping for a bubble to burst and see the prices drop dramatically.
Click to expand...

I'm in the same boat...its just crazy...the price for a 290X was supposed to be around $300-450ish...I went onto Newegg and they want $899 for the cards! Fuck that!

I'm willing to pay $500 for a card (or two) if it lasts me 3-4 years (like my current rig) but $900 is just too much.
 
i got all 5 of my r9's at or below msrp. i wasnt super happy about paying $549 for a bf4 edition 290x but its paid for itself already... now i just have to pay off my psu, cases, memory, motherboards, etc.
 
Why are you going to Newegg anyway. I respect their right to charge what the market will bear but there are other alternatives. Amazon is a 'marketplace' where you can buy directly from them OR from a competitor.

I thought the price of the 290 was suppose to be $400 and the 290X $550. http://www.anandtech.com/show/7457/the-radeon-r9-290x-review

Today, you can get a Gigabyte Windforce 290 for $500 and a 290X for $600 if you are willing to wait 3-5 weeks. My suggestion is to do it now. I got in line about 3 weeks ago for 2 ASUS 290X DC2 cards offered by Amazon for $580. They are no longer being offered by amazon directly on a wait list. They are available for $770 from another supplier though. Windforce not looking so bad now does it.

I am in a strange place. I bought a Gigabyte 290 reference for $399.99 when they first came out. Spent a month trying to get it to work. RMA'd it!! I began thinking maybe I need to get a 290X, or a couple. Or at least another 290. Went back to look and the prices had shot up a bit so I waited for them to come down thinking it was a temporary shortage because of Christmas. Every time I looked the prices were a bit higher. Now they are OUT OF STOCK and still higher. Finally, I decided to pull the trigger on a single ASUS 290X DC2 from amazon to run in crossfire with the 290 reference card. That is do able but kinda stooopid because the 290X will have to be dumbed down a bit. So I ordered a 2nd 290X DC2. I really do not want 2 290X cards I really want 2 290's. At the time the 290's were more than the 290X cards. The 290X cards run hotter and use more juice. My current PSU is a Corsair 850TX which I know will run the 290's without issue, but the 290X cards may put it on the borderline. Along with the monitors I have in my signature I now have a 4K therefore I need Crossfire to be sure I max out my 30FPS on the 4K.

All that to tell ANYBODY and EVERYBODY to buy it NOW!!!! if you can, even if you have to wait. Pricing is not coming down soon because there are a number of different currencies being created. It is NOT just bitcoin or Litecoin anymore.
 
In 1933 when the POTUS told us we could not own gold anymore .. well it's value was $20 for 1oz and today it is $1301.07 per 1oz

That same $20 from 1933 may come close to buying a half of a gram of gold today .. so gold has earned it's keep in time as a store of value from everyone before us as we get robbed by the dollar today.
 
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lol, in 1930's the average yearly income was about $1,300 dollars, you could buy two cars, or put a 30% down payment on a home. not a particularly strong argument for the value of gold holding up over time unless you'd like to work for a year to get an ounce of gold :|
 
Bitcoin was an interesting idea, but they didn't plan on a thousand competing coin types, did they?
 
xorbe said:
Bitcoin was an interesting idea, but they didn't plan on a thousand competing coin types, did they?
Click to expand...

Doesn't matter. It was released open source. Anyone who figured that code would remain out there unaltered was (is) fooling themselves. BTC has the advantage simply due to it being "first to market". Litecoin, while the largest of the alts, hasn't gained much in terms of traction. I thought Doge was a complete scam when it was released but low and behold, there is a thriving community by it and it has daily use. And lets face it, people like holding a bunch of coins over fractions of coins. Doesn't matter if the value of both holdings was identical, the average human given their psychology would believe 100,000 of something is worth more than 1 of something. Same goes for people wanting to buy 1000 shares of some penny stock vs 1 share of an already-established, viable, company.
 
hcforde said:
We have forums because people do not wish to surf the internet for an answer, period. In how many threads here could the answer be found by searching the web with the engine of choice(90-95%)? I also find that the tone of a thread is set by the first person that usually answers it. We all have a choice to reply to a post or not, there is no obligation. Liger88, You are the man!!! You rose above the fray.
Click to expand...

Agreed, not only that but this person can follow up with questions. My question to the people in this thread is why did you you click on this thread then reply essentially promoting it?
 
The cards are high because demand is really high amd cant make the cards fast enough to keep on the shelves.

to break it down

Demand on amd goes up
supply goes down
price goes up.
until supply increases to meet demand or demand goes down to meet supply. (neither option is likely to happen until asic or new cards that do even better at fewer watts hit market)


On a upside this should give the pc parts market a shot in the arm.
downside they will specialize for mining
 
Lunas said:
On a upside this should give the pc parts market a shot in the arm.
downside they will specialize for mining
Click to expand...

As faster mining requires faster OpenCL performance a drive to improve OpenCL performance would do well in our favour.

Maybe NVIDIA will fix their broken drivers at last as well, only been bugged for 6 years now.
 
dragonageinquisition said:
Gold (and silver) are the only forms of legal tender according to the constitution. Just because we left the gold standard (and openly defied the constitution) in 1971 does not mean gold is a commodity. We will return to the gold standard eventually. No fiat currency stands the test of time, and since leaving the gold standard the dollar has lost 97%+ of its value in a mere 40 years. When government has the power to print money it will do so until the currency collapses. The continental dollar didnt last that long did it?
Click to expand...

There is not enough Gold on the planet to run the current World Economy if the entire world returned to the Gold Standard. Not unless you want to raise the price of Gold to $20,000 an ounce or more. And I know you don't want to do that. You want to go back to the old standard of an ounce of Gold worth $20, so you can use it as "real" currency and that is not going to happen.

If we ever start mining the Asteroid Belt we can return to the Gold Standard, not until then.

http://en.wikipedia.org/wiki/Gold

At the end of 2009, it was estimated that all the gold ever mined totaled 165,000 tonnes. This can be represented by a cube with an edge length of about 20.28 meters. At $1,600 per troy ounce, 165,000 metric tonnes of gold would have a value of $8.5 trillion.
Click to expand...
 
I've been quietly monitoring bitcoin's value ever since I stuck my neck out a couple months back and said it would fall to $10 by 2015. I still think that's true, and it seems to be falling faster than it has since the last crash when it was over a grand. If I had any left (I wouldn't--I would have sold them when I got that feeling at around a grand) I'd spend them. After a brief period of general curiosity, the world may be turning on bitcoin.
 
Bluesun311 said:
I've been quietly monitoring bitcoin's value ever since I stuck my neck out a couple months back and said it would fall to $10 by 2015. I still think that's true, and it seems to be falling faster than it has since the last crash when it was over a grand. If I had any left (I wouldn't--I would have sold them when I got that feeling at around a grand) I'd spend them. After a brief period of general curiosity, the world may be turning on bitcoin.
Click to expand...

I bet you one bitcoin that doesn't happen. In fact, I think by 2015 it will be back to $1k, if not, higher.
 
JMCB said:
I bet you one bitcoin that doesn't happen. In fact, I think by 2015 it will be back to $1k, if not, higher.
Click to expand...

But, but, I'm not a gambling man! ;) and I ... don't have any bitcoins lol.

And you could very well be right. :D I think conjecture without self assurance is hip. I wouldn't be terribly surprised either way I just sorta made my guess as to which way the coin would fall and stuck with it. Could also both be wrong and it's hanging around at $150 for the next 10 years... but things sort of seem to be turning against bitcoin in so far as they can. It's invincible to an extent but only valuable so far as what people are willing to pay for them. I kinda wish I could hit fast forward just to find out... not even so I could make a fortune on it. I'm too tired to worry about getting rich at the moment. But I find the bitcoin drama from the outside entertaining. It's nice not to have a stake in it one way or the other. No matter what happens to bitcoin, cryptocurrency is the future. My hypothesis was that bitcoin would be hunted down and have its value depreciated by outside forces mostly just because it was the first big cryptocurrency.
 
xorbe said:
Virtual mining is out of control. The logical end is that all electricity is devoted to creation of "money". One of the ethics tests they teach is "if everyone did it, would it continue to be viable?" (wrt the health of society, not financially.) If everyone burned 3 kwh 24/7 then it probably wouldn't work. Not enough electricity to go around.
Click to expand...

So the money is made out of thin air, and in order to get that money certain peoples are burning tons of electricity. Yeah it's completely stupid, but if I had a setup pulling in hundreds or thousands a month i'm sure I'd find a justification for it too. And if it ever becomes truly legitimate and widely used currency, then maybe it can be said it was done for a reason instead of just trying to exchange it out for dollars.
 
Hmm, all the gold ever mined would be able to pay off half of U.S. debt which is currently at $17 trillion.
 
PornoSatan said:
So the money is made out of thin air, and in order to get that money certain peoples are burning tons of electricity. Yeah it's completely stupid, but if I had a setup pulling in hundreds or thousands a month i'm sure I'd find a justification for it too. And if it ever becomes truly legitimate and widely used currency, then maybe it can be said it was done for a reason instead of just trying to exchange it out for dollars.
Click to expand...

So is any fiat currency.

As for burning electricity, you think your financial institution's data centers around the globe are using free power sources? Please.
 
seiyafan said:
Hmm, all the gold ever mined would be able to pay off half of U.S. debt which is currently at $17 trillion.
Click to expand...

It means we printed to much money and devalued the dollar.. also we are going to have to pay for that mistake with all this free money floating around.

If I was a bitcoin miner then I would sell quick and buy into gold or silver myself but it will just add the current issue of the dollar going to zero.
 
fanboy said:
It means we printed to much money and devalued the dollar.. also we are going to have to pay for that mistake with all this free money floating around.

If I was a bitcoin miner then I would sell quick and buy into gold or silver myself but it will just add the current issue of the dollar going to zero.
Click to expand...

You know what happens if you don't print enough money, right? So you print the right amount of money. Is the right amount of money to print zero?
 
qdemn7 said:
There is not enough Gold on the planet to run the current World Economy if the entire world returned to the Gold Standard. Not unless you want to raise the price of Gold to $20,000 an ounce or more. And I know you don't want to do that. You want to go back to the old standard of an ounce of Gold worth $20, so you can use it as "real" currency and that is not going to happen.

If we ever start mining the Asteroid Belt we can return to the Gold Standard, not until then.

http://en.wikipedia.org/wiki/Gold
Click to expand...

No, returning to the gold standard would require a new currency, not simply denominating gold assets with current currency. Just look at Zimbabwe. They change their currency every few years because it keeps getting inflated to oblivion. You'd have something like $100 new dollars equally $10000 old dollars or something along those lines.
 
mope54 said:
OK, a *quick* primer in Con-Law...but that's all I'm going to spoon feed you. You should look this stuff up for yourself so you can make an informed opinion and subsequently engage in discussions with the correct information.

Legal "precedent," or stare decisis rather, is a principle whereby courts adhere to past judicial decisions. It's a feature of common law. It's not relevant to this discussion unless we are talking about a long history of cases binding the court to rule that gold and silver are the only forms of legal tender in the US.

The relevant law on this is in the US Constitution, Article 1, Sections 8 and 10.
Please look them up and then correct whoever told you otherwise.
Click to expand...

Here's what the constitution says in Sections 8 and 10 buddy:

-No state shall make anything but gold and silver coin legal tender of debts
-Congress can mint coins and adjust the weights
-The powers not delegated to the United States by the Constitution, nor prohibited by it to the States, are reserved to the States respectively, or to the people

The third part is key here: in other words, states can only use gold and silver coin, and congress can the mint coins that the states use. If congress prints paper money, which would be illegal in itself because its not a power enumerated by the constitution, and therefore belongs to the states (but its prohibited by the states as well, so neither can legally do it), but even if Congress did print the money in defiance of the constitution, no state is allowed to use anything but gold and silver coin to settle debts.

The founders expressly prohibited paper money after the collapse of the Continental dollar. The only reason we legally gotten away with using a paper currency until 1971 was because until then, dollars technically gold certificates, they were not money, but merely a receipt redeemable for real money--gold. If you look at old dollars, that's what they said--it said payable on demand, implying the note was not money itself, but the gold you could redeem for it. It was printed on the note itself. Even the minds behind the ponzi scheme known as the federal reserve system knew this. JP Morgan repeatedly testified before congress that only gold was money, and paper money were nothing but a form of credit.

iqj8.png


Here's currency in the 1960s while we were on the gold standard. See where it says, "payable on demand, 20 dollars?" It means you could exchange it for $20 of gold at any Federal Reserve bank. The note is not the 20 dollars, the gold is the money!

US_$1_1928_Silver_Certificate.jpg


Here's a dollar from 1963. The note is not money. The note is a receipt for silver. It doesn't even claim to be money at the top of bill, it clearly states that its a silver certificate.
 
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Say all you want about how great crypto currencies are, but at the end of the day it's still unregulated. Want to argue? Let's talk about mt.gox refusing to release millions. What are people who invested it going to do? Sue a company because they deposited imaginary money and now they want their imaginary money back?
 
and if read the notes they go like this

Federal reserve note
The united states of america will pay to the bearer on demand twenty dollars

And the one
this certifies that there has been deposited in the treasury of the united states of america One Silver dollar payable to bearer on demand

Current money just says "this note is legal tender for all debts public and private."

In other words this note is worth this much because we say it is. So theoretically if we were to have the us govt bail on the country all money would be toilet paper...
 
Lunas said:
and if read the notes they go like this

Federal reserve note
The united states of america will pay to the bearer on demand twenty dollars

And the one
this certifies that there has been deposited in the treasury of the united states of america One Silver dollar payable to bearer on demand

Current money just says "this note is legal tender for all debts public and private."

In other words this note is worth this much because we say it is. So theoretically if we were to have the us govt bail on the country all money would be toilet paper...
Click to expand...

Yes, also notice the text "this note is redeemable for lawful money at the United States treasury. According to mope54 gold is not money, yet the United States Treasury seemed to think there is a clear distinction between a federal reserve note and what is lawfully money.
 
lloose said:
Say all you want about how great crypto currencies are, but at the end of the day it's still unregulated. Want to argue? Let's talk about mt.gox refusing to release millions. What are people who invested it going to do? Sue a company because they deposited imaginary money and now they want their imaginary money back?
Click to expand...

Mt. Gox is suffering from fractional reserves, the same situation could happen at any bank if people started a "run on the bank".

Secondly, Mt. Gox is a shitty exchange and it has been for 6+ months. It was well known that it was hard to get money out of there, that is why BTC commanded a premium of nearly $100+ above what all the other exchanges were offering. Anyone using it has themselves to blame.

Finally, the maleability attack isn't new by any stretch. It was documented 3 years ago... Exchanges need appropriate means of accounting transactions to avoid this "attack".
 
dragonageinquisition said:
Yes, also notice the text "this note is redeemable for lawful money at the United States treasury. According to mope54 gold is not money, yet the United States Treasury seemed to think there is a clear distinction between a federal reserve note and what is lawfully money.
Click to expand...

Thats because gold has no inherent property that makes it any more 'money' then a modern dollar bill, Rai Stone or sea shells. All of them are more or less fiat currencies which at their core are only valuable because two or more people have decided on both as a viable medium of exchange and on their general 'value'. If they cannot agree on both then frankly it doesn't matter what your packing as for the situation at hand it more or less worthless. Granted that's an oversimplification of their relationship but its also the penny tour version. Even when the US was still on the gold standard the value of the dollar was an arbitrary ratio of X quantity of gold to Y Dollars with X generally remaining fixed and Y adjusted to account for inflation/deflation. The only real roll it served was to serve as a overall cap on the total amount of currency that could be in circulation at any one time, since ones gold supply typically remained fairly fixed due to being a scarce resource, but even then nothing stopped them from simply saying X gold is now worth Y+10 Dollars when they needed more currency in circulation. Which did happen more then once.

Many people make the mistake of pointing to the price of gold skyrocketing recently as the sign of how weak the dollar has become and why they're dumping their 'fake' money for 'lawful money' as its laid out in the constitution while they can. Which only works if one assumes the 'true' value of gold has remain a constant but it hasn't. The actual reason its value has skyrocketed has less to do with the dollar being 'worthless paper' and more to do with people buying up more of a scarce resource..because its price relative to the dollar keeps going up.* Such behavior serves as a nice indicator of people overall attitude relative to the economy at large but if things ever did go belly up having gold in your basement is no more a guarantee of retaining accumulated purchasing power then sitting on a pile of ken dolls or toilet paper. Personally I'd bet on the toilet paper. Though the old school among us may prefer bottlecaps instead. ;)

"Of course gold is money its been used throughout history!" While true that has nothing to do with an intrinsic property of gold being money and everything to do with it being a scarce soft metal that was easy to mine, refine, and work into complex shapes with little more then stone tools, a strong arm, and a keen eye. Plus it looked pretty and much like Corvids humans love anything shiny. :D

*Just think about it, if the dollar was really about to become worthless and gold was going to replace it as the Chosen Currency once again why would so many ads have been put out offering to sell you gold in exchange for your dollar? You'd be wanting to buy it instead in order to convert as much of your dollars into gold before the crash destroyed whatever value they had. Unless you were a company that was just trying to capitalize on the fear of certain segments of the population to make a killing selling a product at inflated prices for currency you knew would still be viable after all was said and done.
 
lloose said:
Say all you want about how great crypto currencies are, but at the end of the day it's still unregulated. Want to argue? Let's talk about mt.gox refusing to release millions. What are people who invested it going to do? Sue a company because they deposited imaginary money and now they want their imaginary money back?
Click to expand...

No one is going to argue because that's part of the point of their existence.
 
How is this different to HSBC refusing to let people make large withdraws.

What are people who invested it going to do? Sue a company because they deposited imaginary money and now they want their imaginary money back?
Click to expand...

Yes actual, same as how Butterfly Labs were sued and lost, when they refunded customers less BTC then they paid due to the value of BTC changing.

It doesn't matter if you pay in bottle caps of dollars you are protected, you can get what you deposited back.
 
Bitcoin and its like = commodity + currency.

Fiat's fundamental flaw is that due to it having unlimited printability, it effectively turns to 0 value due to have 0 commodity characteristics that govern its ultimate bottom line worth.
 
Here is a good read on why some think gold is now rising..

FX Probe Extends To Options: "Oh God, Look What We've Uncovered"

http://www.zerohedge.com/news/2014-02-07/fx-probe-extends-options-oh-god-look-what-weve-uncovered

I also read one about how our FED suppress gold prices to keep value in the dollar, they learned how to do this in WWII from the Nazi's and how Hitler kept is war funded. many know now what our FED has been up to in keeping the dollar floating with value and have started stock piling gold.
 
Ws60 said:
Thats because gold has no inherent property that makes it any more 'money' then a modern dollar bill, Rai Stone or sea shells. All of them are more or less fiat currencies which at their core are only valuable because two or more people have decided on both as a viable medium of exchange and on their general 'value'. If they cannot agree on both then frankly it doesn't matter what your packing as for the situation at hand it more or less worthless. Granted that's an oversimplification of their relationship but its also the penny tour version. Even when the US was still on the gold standard the value of the dollar was an arbitrary ratio of X quantity of gold to Y Dollars with X generally remaining fixed and Y adjusted to account for inflation/deflation. The only real roll it served was to serve as a overall cap on the total amount of currency that could be in circulation at any one time, since ones gold supply typically remained fairly fixed due to being a scarce resource, but even then nothing stopped them from simply saying X gold is now worth Y+10 Dollars when they needed more currency in circulation. Which did happen more then once.
Click to expand...

A dollar bill can be printed, gold has to be mined. Gold is a great store of value, because it is chemically inert, and thus can stand the test of the ages. In addition, gold has value in industrial purposes, scientific purposes (being chemically inert--the alternative is platinum which is even more rare than gold), and commercial purposes to prevent corrosion for a variety of products and electronics, as well as fancy jewelry.

But most importantly, gold was considered money and traded among people before government currencies. Therefore people valued it and the state simply co-op'ed it. People in the free market around the world voluntarily used it in the absence of government. Bitcoin is quite different here because one of the main purposes is to avoid government, both taxation and reporting.

Many people make the mistake of pointing to the price of gold skyrocketing recently as the sign of how weak the dollar has become and why they're dumping their 'fake' money for 'lawful money' as its laid out in the constitution while they can. Which only works if one assumes the 'true' value of gold has remain a constant but it hasn't. The actual reason its value has skyrocketed has less to do with the dollar being 'worthless paper' and more to do with people buying up more of a scarce resource..because its price relative to the dollar keeps going up.* Such behavior serves as a nice indicator of people overall attitude relative to the economy at large but if things ever did go belly up having gold in your basement is no more a guarantee of retaining accumulated purchasing power then sitting on a pile of ken dolls or toilet paper. Personally I'd bet on the toilet paper. Though the old school among us may prefer bottlecaps instead. ;)
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It's not just the price of gold rising, the value of all assets across the board are rising.
The reason asset prices are rocketing are because of a Federal Reserve program called Quantitative Easing, also known as inflation. The U.S. money supply has increased from 800 billion to 6 trillion since the QE programs began in 09. You seem to fundamentally misunderstand why prices are increasing. When more dollars are chasing the same number of goods and services, prices rise.

*Just think about it, if the dollar was really about to become worthless and gold was going to replace it as the Chosen Currency once again why would so many ads have been put out offering to sell you gold in exchange for your dollar? You'd be wanting to buy it instead in order to convert as much of your dollars into gold before the crash destroyed whatever value they had. Unless you were a company that was just trying to capitalize on the fear of certain segments of the population to make a killing selling a product at inflated prices for currency you knew would still be viable after all was said and done.
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These are gold exchange businesses. They make money when gold changes hands, because they charge a fee above the spot rate of gold. The gold exchange doesn't own the gold, they are just a broker. As for the sellers, any individual seller of gold may have a reason for it, such as loss of job, retirement and living on a fixed income, etc.
 
fanboy said:
Here is a good read on why some think gold is now rising..

FX Probe Extends To Options: "Oh God, Look What We've Uncovered"

http://www.zerohedge.com/news/2014-02-07/fx-probe-extends-options-oh-god-look-what-weve-uncovered

I also read one about how our FED suppress gold prices to keep value in the dollar, they learned how to do this in WWII from the Nazi's and how Hitler kept is war funded. many know now what our FED has been up to in keeping the dollar floating with value and have started stock piling gold.
Click to expand...

It's been known since the 70s that central banks around the world manipulate the price of gold. They have to do it in order to make their fiat currencies attractive, because fiat currencies when run by central banks will always print money faster than the rise in the gold supply. Fort Knox sent over 165 million ounces of gold to the London Gold Exchange in 1973 in a failed attempt to fix the price of gold in order to reduce the drop in value of the U.S. dollar in global exchange markets.

Demand for minted gold coins from the Treasury is up 63% today compared to when gold was at nearly $2000 an ounce. Doesn't sound like Supply and Demand to you does it? China today is the #1 world producer of gold and exports none of it, while also being the #1 importer of gold, its consumption of imported gold outstrips annual mining production. Since 2009 it's estimated China has been increasing it's gold reserves by 2000 tons a year. Some believe China is getting ready for the Global Currency Reset and is planning a gold-backed world reserve currency using the RMB.

Recently when Germany asked the New York Federal Reserve bank to audit it's 600 tons of gold held at the Fed, the Fed refused to let them see the gold, then finally told them they could see 1 gold bar. When Germany asked for its gold back, the Fed told them it would take 7 years to get all its gold back, and a year later, not even 1/7 of that gold has been shipped back.

You see it's very likely most central banks in the West (including the Fed) has near-empty vaults, having lent out all their gold in short-selling schemes to lower the price of gold in the foreign exchange markets. I expect to see gold skyrocket soon because the price of gold can't be manipulated if you have no gold to sell.
 
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Its amazing how BTC has made so many faux economists now experts on forums.

Half of the people repeat what they hear and obviously do not fundamentally understand what a fiat currency is.

And i have yet to see a single screen shot of anyone PROVING they have successfully cashed out any more money than they have spent on electricity while "mining". It's clearly just a fad for basement dwellers and lazy people thinking they can get something from nothing.

Not to mention the FBI literally owning the largest chunk of BTC, and thus could completely devalue the currency instantly, anytime. What a waste of electricity.

But lets be honest, most people who mine don't pay for electricity. Frat boys, mama's boys and people wishing on a star.

Im not saying our legal tender BS federal reserve is any better... because its not. But I've had enough from neckbeard basement dweller miners acting like BTC rules the world... it surely does NOT.
 
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jmilcher said:
But lets be honest, most people who mine don't pay for electricity. Frat boys, mama's boys and people wishing on a star.
Click to expand...

right, we have built the most powerful computing effort ever assembled by humans (by over an order of magnitude) on our parents' power bill

pretty neat 'eh?
 
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