Originally Posted by 4Dragons
From what my buddy was telling me there is a mathematical problem/algorithm that has to be solved. It is very difficult to solve the problem, but once it is solved it's easy to verify that it's correct. A bunch of people use computing power to solve it, and when someone does they are awarded a bitcoin. Then the process repeats itself
The bitcoin network already has more hashing power than the worlds 100 top super computers. I haven't tried mining
It would be worthless on a normal PC you would spend more in electricity than you would get in coins
you could generate some with a high end graphics card, but most miners are now shifting to asics which are specially designed processors for this type of application
I imagine a government could take on a program to generate more PC power than bitcoin, but it would be cheaper for them to just attack the exchanges like they did with poker and banks
Bitcoin has hit mainstream media. Foxnews posted this on their website within the last few hrs.
Digital 'bitcoin' currency surpasses 20 national currencies in value
Bitcoin is in high demand right now -- each bitcoin currently sells for more than $90 U.S. dollars -- which bitcoin insiders say is because of world events that have shaken confidence in government-issued currencies.
Read more: http://www.foxnews.com/tech/2013/03/...#ixzz2Oyhbp2IK
There was an article about bitcoins on the front page of yahoo too. I can't see all this attention being a good thing for bitcoin.
Are you kidding me? The increased coverage and exposure has more to do with the spike in price than anything.
There was an article about bitcoins on the front page of yahoo too. I can't see all this attention being a good thing for bitcoin.
From Glenn Beck's News Site:
Business
Finance
There’s Now a Currency That’s Up 152% — $1 Billion Total Value — and You Should Know About It
Mar. 29, 2013 9:39am Liz Klimas
http://www.theblaze.com/stories/2013...know-about-it/
And
What Are Bitcoins & Could They Endanger the Global Economy?
Mar. 29, 2013 8:17pm Christopher Santarelli
"Bitcoins are a form of virtual currency that are just starting to get some attention. Right now, one Bitcoin is worth somewhere in the $90 range, so almost 100 of your dollars equals one of something that you cannot touch or see.
How did a virtual currency come to have a very tangible hold on global economies and should we be concerned? The United States is."
http://www.theblaze.com/stories/2013...lobal-economy/
BTW, I just saw this website today: http://betsofbitco.in/
For those of you who miss inTrade.
broke the $100 mark. Micon seen playing in Bobby's Room.
Magic!
Last price:$101.17101 High:$105.99000
Report on Bitcoins coming up on CNBC
Posted Monday April 1st 4:40 EST
Kicking myself for not getting in....
Still debating getting in for the $100-> 150 ride
Last price:$105.10001 High:$106.00000
Last price:$106.30999 High:$107.12101
actually had 4 chips in my swc account
entered the 1 chip 200 guarantee at 4am the last four nights and on my case chip shipped it crucially for 60 to the face
at 75 chips (~$7.50) and climbing
gl to us all
edit:
74 chips
just got grimmed while making fao wiz thread
edit:
it was worth it
edit:
probably
Last edited by WillieMcFML; 04-02-2013 at 04:38 AM.
Last price:$112.62500 High:$116.00000
HOFFFFFFFFFFFFFFFFFFFFFFFFFFFFFF
Bitcoin ATM: http://www.cnbc.com/id/100609853
http://www.businessinsider.com/how-t...ly-must-2013-4
Don't blink ...Kicking myself for not getting in....
Still debating getting in for the $100-> 150 ride
the 100-150 ride is now ...Will be over 200$ by may
Last edited by Yiddishdonk; 04-02-2013 at 06:28 PM.
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