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Old 04-12-2013, 01:27 PM   #526
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Originally Posted by s mack View Post
Why does the graphics card matter for this again?

CPU is what does all the computations for processes outside of video processing..
Oh, hey, we got a smart one here.
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Old 04-12-2013, 01:28 PM   #527
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Originally Posted by s mack View Post
Why does the graphics card matter for this again?

CPU is what does all the computations for processes outside of video processing..
All the mining is done with the GPU as it's much faster at these calculations (see the Folding thread as well). You can mine with the CPU but it's not efficient.
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Old 04-12-2013, 01:29 PM   #528
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Originally Posted by s mack View Post
Why does the graphics card matter for this again?

CPU is what does all the computations for processes outside of video processing..
STOP ASKING QUESTIONS.

INVEST HEAVILY IN BIT COIN.
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Old 04-12-2013, 01:34 PM   #529
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It sort of goes to my argument that it's almost too late to be jumping in. The early early pioneers (including original creator) has such an immense head start. Also, IIRC, completing one mining op gives you a package of 50 25 bitcoins. So you don't really get just one coin.

I dunno, it still sounds like a farce to me. Yes it's not centralized, but there's still massive market forces (internal and external) that can influence the value, which really isn't much better IMHO.
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Old 04-12-2013, 01:35 PM   #530
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"Satoshi Nakamoto" invented the whole system and then went into seclusion. He's the top of the pyramid. He could bring the whole system down at any time and make billions of dollars in the process. The whole system currently operates on trusting he won't screw everyone over.

For most other currencies the top of the pyramid is a national government. That's not to say they won't screw people over too (Cyrpus) but I'd rather take my chances with a known government than a shadowy computer programer.
Huh?

How exactly does satoshi sit at the top of the pyramid? Because he is the conceptual creator (and produced the first pass of code?).

I have a hunch you dont have a clue wtf you are talking about.
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Old 04-12-2013, 01:36 PM   #531
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Originally Posted by Dirty25RS View Post
Your computer is not very ideal for this kind of work.

Nvidia don't perform as well as ATI cards for that kind of work. CPU doesn't really matter.
The serious one have moved on from graphics cards to purpose built chips now.

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Originally Posted by s mack View Post
Why does the graphics card matter for this again?

CPU is what does all the computations for processes outside of video processing..
traffic, go play in it
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Old 04-12-2013, 01:37 PM   #532
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Originally Posted by HighWayDrifter View Post
I have a hunch you dont have a clue wtf you are talking about.
Goes for most people in this thread.
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Old 04-12-2013, 01:38 PM   #533
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Originally Posted by 69subaru360 View Post
The serious one have moved on from graphics cards to purpose built chips now.
Can you point the people of this thread in the direction they can go in to buy one of these purpose built chips?
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Old 04-12-2013, 01:39 PM   #534
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Originally Posted by Dirty25RS View Post
Can you point the people of this thread in the direction they can go in to buy one of these purpose built chips?
If you're only starting to ask now, don't bother. You won't have anything in hand for a year at this point due to order backlog and production delays.
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Old 04-12-2013, 01:42 PM   #535
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If you're only starting to ask now, don't bother. You won't have anything in hand for a year at this point due to order backlog and production delays.
I wasn't asking you.

Additionally I wasn't asking for myself.
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Old 04-12-2013, 01:43 PM   #536
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Originally Posted by Dirty25RS View Post
I wasn't asking you.

Additionally I wasn't asking for myself.


My answer applies to anyone.

http://www.butterflylabs.com/

Knock yourself out.
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Old 04-12-2013, 01:46 PM   #537
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Indeed. preorder 10 of them.

have fun.
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Old 04-12-2013, 01:48 PM   #538
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Can you point the people of this thread in the direction they can go in to buy one of these purpose built chips?
No sorry, I don't know where you could actually buy. I've only read about how they are doing it.

I don't think it would make financial sense to invest in hardware now anyway with how volatile BTC is right now.
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Old 04-12-2013, 01:48 PM   #539
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It should be noted the people who bought ASICs last summer still haven't had them ship (save for a few singles). Good luck getting a package in 2013 if you order anything from BFL now.
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Old 04-12-2013, 02:03 PM   #540
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Originally Posted by bakadayo View Post
It sort of goes to my argument that it's almost too late to be jumping in. The early early pioneers (including original creator) has such an immense head start. Also, IIRC, completing one mining op gives you a package of 50 25 bitcoins. So you don't really get just one coin.

I dunno, it still sounds like a farce to me. Yes it's not centralized, but there's still massive market forces (internal and external) that can influence the value, which really isn't much better IMHO.
Volatility is going to persist probably for the lifetime of this thing.

The value would only settle down if more bitcoins were tied to REAL WORLD items with more stable values. Like if a big online retailer said they were gonna give you an exchange rate of $100 per BTC, like Amazon, and that's just that.

Right now the value is all speculative, it's all virtual. They have value because you bought them and sold them and the exchange says so! But most of the BTC out there are just investments right now.

I could print out a thousand RogueBucks and give them to you guys and let you trade them and sell them amongst yourselves... the value would be a joke. Yay, fiat currency!
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Old 04-12-2013, 02:51 PM   #541
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kaching!

this needs to be known if one is to discuss bitcoin's viability.

Quote:
Medium of Exchange
An object becomes a medium of exchange when it is consistently used as an intermediary to trade goods or services. This can be seen by the phrase on all American dollar bills, "This note is legal tender for all debts, public and private." In the absence of money, there would be a barter system, which is strictly the exchange of goods or services for other goods or services. Currency takes the place of a barter system and allows for simpler exchanges.

Value of Money
In economics, money must be a unit of account. An object is a unit of account when it is used to value other goods or debts. In this instance, money acts as an object to value other objects. For instance, if a horse became a unit of account, than it would be used to value other objects, such as five goats equal one horse. Although factors within economics (such as supply and demand) cause the value of money (and therefore objects) to fluctuate, those objects retain a worth based upon monetary values.

Store of Worth
Money must also have the ability to maintain its value even when stored. For instance, a token that is good for a ride on a ferry can be stored and will continue to maintain a value for one ferry ride; however, if the ferry no longer exists, the token will no longer have any value. Money can be stored for long periods of time and still have its original value.

Other Characteristics of Money
Although any object could become a currency, money must also be practical. For instance, a money must be durable, in the sense that it must be able to withstand frequent exchanges. Money must also be portable, in the sense that it needs to be easily carried. It must also be divisible, so it can be broken into larger or smaller units. Money must also have a limited supply in order to assure its value.



Read more: The Characteristics of Money in Economics | eHow.com http://www.ehow.com/info_7949528_cha...#ixzz2QHD9Xr6l
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Old 04-12-2013, 03:05 PM   #542
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Quote:
Originally Posted by s mack View Post
Why does the graphics card matter for this again?

CPU is what does all the computations for processes outside of video processing..
i posted this a couple pages ago...

Quote:
A CPU core can execute 4 32-bit instructions per clock (using a 128-bit SSE instruction) or 8 via AVX (256-Bit), whereas a GPU like the Radeon HD 5970 can execute 3200 32-bit instructions per clock (using its 3200 ALUs or shaders). This is a difference of 800 (or 400 in case of AVX) times more instructions per clock. As of 2011, the fastest CPUs have up to 6, 8, or 12 cores and a somewhat higher frequency clock (2000-3000 MHz vs. 725 MHz for the Radeon HD 5970), but one HD5970 is still more than five times faster than four 12-core CPUs at 2.3GHz (which would also set you back about $4700 rather than $350 for the HD5970).
https://en.bitcoin.it/wiki/Why_a_GPU...ter_than_a_CPU
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Old 04-12-2013, 04:08 PM   #543
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Inside the Bitcoin economy

BITCOIN, a "cryptocurrency" that has all the financial world talking, has had a crazy few days. Bitcoins have always been volatile, but over the past week the currency went on a tear, rising to close to $300 dollars, before plunging, losing some 60% of their value in the space of a few hours. Felix Salmon considers the carnage and writes:

Quote:
Bitcoin is clearly not an effective store of wealth — just look at how quickly that wealth can be evaporated. Neither is it a useful payments mechanism, given how fast its value can fluctuate. Currently, it can take an hour for a bitcoin transaction to clear, which means that the value of the transaction when it clears can be radically different from its value at inception. Bitcoin only works for payments if you can be reasonably sure that its value will remain reasonably steady for at least the next hour or so.
I'm going to play the pedant and note that this isn't quite right. The dollar is one of history's most successful currencies, I think it's fair to say, and yet it, like virtually every floating currency, is prone to wild volatility. In the late 1990s, the trade-weighted dollar soared nearly 50%. It then turned on a dime, dropping 30%. Then, in a matter of weeks in late 2008 it jumped nearly 20%. Once again, that's the trade-weighted dollar, not an individual currency pair (which can be much more crazily volatile).

Now over long time horizons those swings can have substantial macroeconomic impacts. But on a scale of weeks or months or even a year or two the average American has almost no idea that such movements are occurring nor does he care. And that's because America is a massive economy, in which trade is a relatively small share of GDP, in which everyone is paid in dollars and in which everything is priced in dollars. Foreign exchange volatility matters only to the extent that the exchanges you care about have a foreign component.

Now in Bitcoinia (as we might call the Bitcoin economy) that means volatility currently matters very much. Almost every good one can purchase with Bitcoins is actually priced in dollars and sold at a Bitcoin price reflecting the prevailing exchange rate. So there is almost no Bitcoin frame of reference independent of the Bitcoin-dollar exchange rate. Bitcoinia mostly lacks internal supply chains, in which contracts for intermediate goods are denominated and settled in Bitcoins. People aren't taking home Bitcoin paycheques. To put things simply: every good in Bitcoinia is an import and every job must be offshored. In that kind of economy, exchange-rate volatility matters a very great deal indeed.

But just because that's how Bitcoinia operates now doesn't mean that's how it will operate always and forever. The more purchasing power there is in Bitcoinia, the greater the incentive there is to cater to Bitcoinian demand. The more transactions there are in Bitcoinia, the more entrepreneurs will want to hedge their exposure to foreign exchange volatility by paying suppliers or employees in the same currency they're accepting as payment. And Bitcoin wage payments reinforce the demand for goods and services that can be purchased with Bitcoins. The greater the ability one has to buy and sell what one needs exclusively within Bitcoinia, the less foreign-exchange volatility matters.

Whether Bitcoinia actually attains that critical mass is very much an open question, and I certainly have my doubts. In early days volatility does matter a great deal, and huge swings against other currencies may kill the Bitcoin economy in its cradle. One might recommend a bit of macroeconomic management to create enough to stability to allow the critical mass to build, but centralised management is very much what Bitcoin is not about. Sceptical as Bitcoinistas may be of the value of central banking, it has developed as it has for a very, very good reason. And if the Bitcoin economy manages to come up with a completely decentralised way to stabilise itself without that top-down maintenance, well, that would be something very interesting indeed. More probable: either Bitcoinia will remain a small, fringe economy thanks to inherent instability, or a stabilising financial structure will somehow grow within it. And then one day we just might see a Bitcoinian J.P. Morgan gathering Bitcoinia's financial eminences into a virtual office to cooperate in an effort to stave on looming financial panic...
http://www.economist.com/blogs/freee...itcoin_economy
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Old 04-12-2013, 04:39 PM   #544
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http://www.presstokill.com/coins/?mode=cosby



A 7300 bitcoin transaction passed through and I thought Cosby was going to **** himself.
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Old 04-12-2013, 04:55 PM   #545
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Originally Posted by BlackBeastie View Post
http://www.presstokill.com/coins/?mode=cosby



A 7300 bitcoin transaction passed through and I thought Cosby was going to **** himself.
Haha, I made this. I'm a BRZ owner, saw some nasioc referrals start popping up and thought I'd drop by to say hello :P

It's weird, I could have sworn I had an account here. I spend a lot of time lurking around here looking for autocross tips.
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Old 04-12-2013, 05:14 PM   #546
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Originally Posted by lmao zedong View Post
Haha, I made this. I'm a BRZ owner, saw some nasioc referrals start popping up and thought I'd drop by to say hello :P

It's weird, I could have sworn I had an account here. I spend a lot of time lurking around here looking for autocross tips.


Awesome! I had it playing loudly through my laptop speakers just to amuse and annoy my coworkers.
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Old 04-12-2013, 06:05 PM   #547
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Huh?

How exactly does satoshi sit at the top of the pyramid? Because he is the conceptual creator (and produced the first pass of code?).

I have a hunch you dont have a clue wtf you are talking about.
I hope you're right.
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Old 04-13-2013, 01:32 PM   #548
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I'm very late to the party... but I've been mining Litecoin for the past few days. From the research I've done they seem to be the best chance right now to produce coins that might actually give you the volume necessary to be able to catch another ridiculous spike like BTC just had.

http://dustcoin.com/mining

I'm using cgminer and have dialed in my setup pretty well for LTC.

Mining LTC: 940kH/s
Mining BTC: 780MH/s (haven't spent nearly as much time tweaking this one)
(not simultaneous of course)

All with vid card temps about 69-68C on both.

I have dual factory OC'd MSI R6970s.

After playing around quite a bit I found that lowering the stock core clock I was able to increase the rate a fair bit. I also dropped the voltage a pretty decent amount to keep the temps down, and so far so good for multiple days now.

I joined the Give-Me-LTC pool, and Slush's BTC pool.
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Old 04-13-2013, 07:56 PM   #549
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Maybe if that's a success, you can drop the ads.
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Old 04-13-2013, 08:03 PM   #550
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Maybe if that's a success, you can drop the ads.



75% of nasioc servers are used for bitcoin mining purposes.
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