Sadly i got burned on my speculation on qe3 last week, and the programmers i payd did not managed to get my pool runnning by now
Topic: What do you spend your hard earned bitcoins[btc] on? - page 2. (Read 1969 times)
I used it for speculation, and improving mining equipment as well as paying programmers to get my own pool running.
Sadly i got burned on my speculation on qe3 last week, and the programmers i payd did not managed to get my pool runnning by now
Sadly i got burned on my speculation on qe3 last week, and the programmers i payd did not managed to get my pool runnning by now
I like to buy silver and sometimes advertising 
I do not advocate the usage of bitcoins in transactions where fiat currencies remain viable as a substitute, in the same way that I wouldn't trade gold or silver bullion as currency before exhausting other means of exchange. Bitcoin is, I believe, lower on Exter's pyramid than fiat, and may prove to be lower than even the monetary metals themselves. All will rise in purchasing power relative to paper assets. As long as the service infrastructure for Bitcoin commerce is thoroughly in place at the point of acute decline in fiat currencies, I don't think it matters if anyone was using it to buy or sell goods and services; being highly liquid and easy to access, it is capable of taking the reins from fiat at a moment's notice.
it is ye, asic is a type of chip... cpu is asic, gpu is asic etcetc, this is just a new type of tech thats waaaaaaay faster at mining
newbie question: what is ASIC?, I presume from your posts it's a mining machine. Is it the same as the one that Butteryfly Labs is selling? Thank you
I intend to use my Bitcoins like cash whenever I can also save some.
I understand the basics of bitcoin, but wouldn't buying those ASICS be prohibitive to bitcoin production? If you buy an ASICS-based system, don't you drive up the difficulty of obtaining bitcoins for everyone else? And if more and more people buy ASICS-based machines, that would mean that you're basically where you started, except with $15,000 & $30,000 rigs instead of a rig that cost a few thousand, right?
Even if hardware went stagnant right now, difficulty would go up...ASICS just make it so that whoever owns them can continue to mine at a reasonable speed.
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but there is a slight chance no?
No one want to change that right now, so code should not change. Quote
Its unknown how the Asic's will effect the system right?
They will just increase difficulty. Nothing else.
ASIC's won't break the current system. It will drive difficulty up in all likelihood. Quantum computing on the other hand could do some damage to the current algorithms (or so I've read). We probably won't be seeing those until all BTC have been mined however.
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But the code won't change
0/10 trolling
0/10 trolling
Its near impossible is my guess, but there is a slight chance no?
Its unknown how the Asic's will effect the system right?
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Only if they change the code then alot of people are buggered
But the code won't change0/10 trolling
Seems like Asics are the way to go. Only if they change the code then alot of people are buggered.. All that investment down the drain.
GPU miners will wish they never sold their rigs.
GPU miners will wish they never sold their rigs.
You can work your way up to that 1000GH/s machine by buying the smaller rigs first. Once you reinvest and get 25 of them running you will be on par.
Eventually everyone will buy ASIC. So what matter is how much do you invest. You can't compare a few thousand rig with a 30.000$ one!
I understand the basics of bitcoin, but wouldn't buying those ASICS be prohibitive to bitcoin production? If you buy an ASICS-based system, don't you drive up the difficulty of obtaining bitcoins for everyone else? And if more and more people buy ASICS-based machines, that would mean that you're basically where you started, except with $15,000 & $30,000 rigs instead of a rig that cost a few thousand, right?
I sell them them at bitcoin.de 
Second: invest into mining Bonds at GLBSE.
Third: buying 4 issues of BTC Magazine.
Second: invest into mining Bonds at GLBSE.
Third: buying 4 issues of BTC Magazine.
Satoshi Dice is good fun.... and ASICS
VPN subscription - mullvad.net takes bitcoins (and has a zero logging policy)
I could only wish that Cyberghost takes Bitcoins
VPN subscription - mullvad.net takes bitcoins (and has a zero logging policy)
Or investing!!
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