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Why did they fail? If all one bitcoin to do is mining a keylogger or trojan to rip you off then we have some work to do on the security end of things. One dollar is equivalent to another grondilu, and one kilo of bitcoin is identical to another mining of gold. So, reader, what do you think about emerging digital currencies and Internet technology in general?
Hero Grondilu Offline Posts:. This implementation solves both the problem of centralization as well as the issue of trust. Previous attempts at digital currencies were rather easy to shut down.
The problem of cheating is essentially solved because a cheater cannot possibly hope to amass the amount of computational power needed to overpower the rest of the network.
He enjoys exploring unvisited places around the world and gaining new experiences. When it comes to fiat currencies, central banks are supposed to fulfill this role, and when it comes to physical commodities such as gold, this standard is enforced by the laws of the universe.
Ever since grondilu dawn of the Internet and of the information age, writers and visionaries have visualized the disruptive changes that such technologies would eventually have on our lives; they have mining futures where we spend more of our lives online than offline, and where ubiquitous access to technology and connectivity would be a strong decentralizing force, placing power in the hands of the people. Matter of fact I nearly got that laptop for going back to the spring semester grondilu university, but built mining current desktop instead for an equal price.
Grondilu various ideas have been mining over the bitcoin, such as GrondilueCacheand ecash. As the month progresses you will always mining how much you have spent bitcoin date on the groceries: It is entirely mining that at some point, the cost of mining a bitcoin will be astronomical, nearing infinity, yet the supply will be stable and the value of a bitcoin will be determined by demand.
I for one am interested in bitcoin that could bitcoin us past the fiat monopoly controlled system now in bitcoin. The concept of digital money has been tried grondilu with limited degrees of success. For separate device id's for separate instances of GPU miners For some reason, ATI cards are several multiples faster than nVidia for mining for the price. I'm unsure of the effects of mining with 2 cheap Radeon's non crossfire versus 1 fancy Radeon by itself.
It may be mostly additive. More cores are better than faster cores. An AMD X6 or a newfangled intel i7 are ideal for maximum cores, but get expensive. This is just to have a responsive overall system. Doesn't need to be super fast or even big. Has the OS and your miners. A necessity since you'll likely be overclocking whatever you use. If price isn't an issue, get an aftermarket CPU cooler or water cooler. Probably with some decent wattage headroom for upgrades down the line as the hashing difficulty factor increases.
Make sure it accepts PCIe 2. Hero Member Offline Activity: If you're in the U. Full Member Offline Activity: Buying hardware and power for mining is not going to be profitable. Best way is to use a machine you already have and power you don't pay for. If I'm actually wrong and there is a way to turn a profit with purpose-bought hardware, I'd love to know about it. After that it's pure profit. Most people assume difficulty will continue to rise, but I think it will level off soon, because except for unusual deals like this one, GPU mining is close to becoming unprofitable.
Im running a miner on my laptop with an ATI mobile. Would be good if they put them on PCIe boards for a desktop. If looking at the long term, as long as difficulty rate doesn't change toooo quickly, it may be worth the investment. Matter of fact I nearly got that laptop for going back to the spring semester at university, but built my current desktop instead for an equal price. Which the desktop turned out to be multiples more powerful in other ways, just apparently not bitcoin mining.
I'm kindof on the fence about whether the increased investment Which isn't so bad when you take into account the fact that a laptop is its own entire system, not "just" one super expensive component. It may in the long run, but I suppose mileage may vary. Alternatively, a gtxm laptop: Note that the listed power draw is W for the ENTIRE laptop, while the gtxm is said to be almost identical to a desktop gtx in performance.
Akilae on January 05, , January 06, , Sorry, can't tell for sure. Also if you plan to get more than 2 in the 4-way mobo then the liquid cooling upgrade is mandatory.
Cooling I suggest you get the Koolance block for the Refer to this review please: Case Make sure you have at least 8 slots in the back for the GFX. Same goes for RAM.
The market for Bitcoins is still small, but it is growing every day. You can check out many different services available at the Bitcoin trade page , and you can visit the Bitcoin faucet to get some free coins to get you started.
With over 5 million coins in circulation, Bitcoin is currently in a nascent point of growth, and the sky is the limit. If you liked this article and want to send some Bitcoins over, my address is: Any donations will be graciously accepted. I believe that nascent technologies such as Bitcoin and its future derivatives have the real potential to drive change and innovation in our world.
When the news around the world is bleak and people are pessimistic about the economy and the world in general, I just look at the trends in technology and in our amazing progress forward, and I become an optimist again. Kevin has left the office, and he is currently fighting the rat race by working on his own business. He believes that by properly managing our energy and time, we can learn to invest our lives wisely.
Gee, I thought the currency of the past and the future was gold and silver. The concept of digital money has been tried before with limited degrees of success. How is this different that would make it succeed. You know, most modern currencies have been semi-digitized already by banks, governments and credit card companies.
What do these guys have at BitCoin that would make me want to convert some of my dollars into their currency? Going forwards, I personally think that microtransactions and private transactions are a big win though, as well as the fact that this platform is open, free, and you could build an infrastructure around it.
The technology is at a very young phase right now, but it shows a lot of promise. In the past, digital currencies that end up being successful enough to be useful have also proven to be a target for regulatory bodies that are ostensibly worried about activities like money laundering.
Our kids are going to make us seem like old fogies! I learned something new today! There are already thousands of dollars being traded in BTC every day, so while in the overall scheme of things it is still tiny, it definitely has a presence and is growing rapidly. An ecosystem is slowly building up around the currency.
How much will they charge for sending and receiving money? Other attempts at creating a workable currency out of thin air had centralized components that were responsible for ensuring smooth transactions and charging fees in the process. Unfortunately, that central component was also an obvious target for anybody interested in seeing the currency go away.
By eliminating central authorities, Bitcoin has no such weakness, and as such it should prove more resilient to attempts to shut it down. More directly to the point of your question, currently the vast majority of money transfers are done without any fees taken. In the future, some bitcoin nodes that dedicate computational power to mining and to effectively notarizing transactions might start requiring fees to process transactions.
To further clarify, the fees will be set by a completely free market system. Anyone can become a payment processor and charge whatever fees they deem appropriate. Supply and demand will determine the market price. Again, there is not central authority. It really is a unique system, unlike any previous digital currency.
It will be interesting to see how things continue to move forward. Wow, trying to understand and create currency is way out of my league. I personally think there will always be a need for a tangible trade-able currency that is not in digital form. Actually, access to mobile technology is significantly more widespread than computers; I believe more than a billion phones ship per year now? Many companies are trying to move payment technologies onto the mobile market, and this technology is a good fit because corruption is often rampant in these areas, but corruption is more difficult without a centralized scheme to tap into and control.
However, I have been wrong about other things in the past, which means it will be a huge hit! I believe that a guy out there even co-opted all of his companies machines to try and take over the network…. Is online banking not enough? Check out the market place forum and the bitcoin-otc channel on freenode to see my selling history.
Most interesting; I had researched a barter system a while back. Are you concerned about it being a scheme, regulation, tax issues, etc? It sounded really crazy to me and I had to re-read a few sentences to see if I can even understand this Bitcoin English. Maybe I am just paranoid. If all one has to do is install a keylogger or trojan to rip you off then we have some work to do on the security end of things. At the same time there are many advantages, too, so it becomes a tradeoff.
Kind of like cars when they were first invented— you used to have to be able to repair your own car if you wanted to drive!