Well, solo mining with a CPU for a whole block could literally take years. Though with pool mining you could certainly mine a little dribble, as it is worth $230 right now and climbing you could still earn some cash. After ASICgeddon however CPU and GPU mining for Bitcoin will be dead.

Or start mining Litecoins, only hitting the GPU stage of development with FGPAs probably later on down the road. They work differently so CPU is still somewhat viable. I mined .5 LTC in a couple days with my i7 rocking about 30 KHash/s

The Yuan is about one shake away from total failure as a currency as more and more of it has been printed and injected into the economy, which is essentially all debt based, and the check is coming due. Once their giant debt and housing bubbles explode, it will likely set off a chain reaction off the burst of all other economies as China's import needs are slashed as this megaconstruction will cease to exist in an instant, putting their global suppliers out of business. Those laid off employees will be unable to afford their homes, the mortgage bubbles around the world will implode, sending several industries spiraling out of control under loads of debt. This would fuel the Healthcare, student debt, and housing crisis brewing in the US until it has no choice but to default, rendering the USD worthless instantly. The Euro has already been teetering on edge, and a full collapse would spell the doom of Euro also. We'll all watch the entire world tear itself apart, setting the stage for possible martial law across the globe, maybe the first step to the New World Order or something similar occurring (Joe Biden used the exact words New World Order a couple days ago, as have many other Presidents and VPs over the years, what do you think they meant?), under the guise of benevolence. Hope for the best, but DO prepare for the worst, as many leading economists as well as the super wealthy elite are running for the hills, and that is not a good sign.

I've never been much of a Doomsayer, but all of that above is happening right now and can be checked factually, and a lot of smart people see it coming, http://www.thebubblebubble.com (predicted the 2008 crash with accuracy)

Get some BTC, as it might be the only currency left on Earth actually worth something soon. As the technology is robust enough to be rapidly deployed on computers and smartphones, it may well be our financial Jesus as it vacuums up the damage and converts it to a debt free economy. Once all other currencies vanish in the fire, so will the debt of those currencies. We would all be free on a cash based society again where we are our own banks and the Governments and banks lose control of the money supply. Back in our hands where it belongs.

Other countries are getting away from the Dollar as it's value is inflating and probably will more rapidly as time goes on now with USD debt spiraling out of control.

So no, it's not looking good...2013 could very well bring literal financial doom to our doorsteps around the world, unless something is quickly done about it 5 minutes ago. I have no faith that it will be fixed because at this point statistically and by the numbers, we as a global society cannot repay our debts in full, ever. The only choice is to start over and admit failure.

There is a coming currency war, and Bitcoin is our big gun. Bring it on

Once China pops and drags all currencies down with it, watch how fast people scramble to save themselves financially then. Cyprus figured that out, and the rest of the world will too soon I think. BTC is rising by the simple fact that tons of new foreign currencies are being dumped into BTC rapidly right now out of fear of big banking, as they can apparently just steal your life savings legally now.

This is only the start of what could be the most insane year in the history of the modern world.

Yep, BTC will only work as long as we actually spend it within the economy, if we don't it is no longer currency, but simply an asset that would be worth no real world value as they can't be used for anything being literally a pile of electrons on a hard drive.

This is the way to do it, just convert your purchase cash into BTC, then buy Or start mining, generate BTC out of electricity and it is essentially "free money" in the Bitcoin economy, though it inst in terms of electiciy use and time to generate them. Miners are getting paid for their support.

Bitcoin will live on as it has assuming this is a bubble waiting to collapse soon, driving away the speculators and in-n-out investors just like it did the first time. In 2011 everyone but the Bitcoin faithful said it was dead...they were wrong.

Imagine what height the next bubble will hit based on existing trends of BTC bubbles?

Bitcoin is a very young economy, and these things will happen until its market cap reaches a level of stability. When that happens no one knows. Maybe after the entire world's economy shifts to Bitcoin after it all goes down this year  Each BTC will be worth about  $3 Million a piece if that did happen someday. An then it wouldn't be worth $3 Million because the USD would be dead and buried, it would just be worth a Bitcoin 

Ok...gonna take a mulligan on this, the previous thread went off course which was my fault...


I was just messing around with Illustrator and came up with a hypothetical logo for Bitcoin cryptominers, please use it if you would like in your own projects. The Latin means "connected through strength".




I'll take requests to do custom gears, or please download and create your own to represent your mining brethren in the field.

If you want a gear to call your own, post below with what you would like.

If you have one of your own, share!

Digital Doom did you even read anything I posted? If you did you would know the notion isn't for some kind of central group to control everything. However with increased cost of hardware and time, miners will become serious businesses, and have a vested interest in the decisions of Bitcoin Foundation overall going forward. Something to consider. I am not a BF member so I really have no idea what occurs there on the mining side of things or how decisions are made. So far there is no reason to question it. Overall it probably is a terrible idea and at this point certainly not necessary, and against the Bitcoin ethos.

As noted, I agree that keeping Bitcoin decentralized as much as possible is a crucial ingredient for its overall success. Too much control from any one area could be fatal, as our current financial hellhole is evidence of already.

HOWEVER

Again this is just a discussion based on a graphic I created just for fun for fellow miners, I have no intent to start or manage any such organization, though I am thinking of creating a new mining community site and news blog as I havn't seen any like that yet out there. So chillax  

In reality cryptominers are the new gold rushers, you have to bring your own mining equipment yourself and bore the all the risks of it as the gamble that it is and accept the parameters the mothership gives us to do so, and have a chance to strike it rich. I can however see a day somewhere when miners will have words about transaction fees when it really starts to matter as less and less Bitcoins are forged, but a distant future issue if it would become one at all.


I'm more than happy to do that, I wasn't trying to start an open revolt here, just thought it might be a worthy discussion following *for fun* design work.  I think Im going to cap this thread and start a new one for just the graphics without the rest

Sweet piece JEB! Clears up a lot of misconceptions about Bitcoin the media sure seems to love reporting on.

That was always my argument against the drug buy issue. Dollars have been and still are used to buy all manor of illegal things anonymously and money laundering, where is the Drug Czar calling out to ban cash? If this kind of easily debased criticism is all they can muster, Bitcoin deserves to eat them all alive for their ignorance and half-truths, twisting the good parts of Bitcoin into issues that don't exist.

BitTorrent was really the first model to prove that an open distribution standard on the Internet is basically impossible for any government, agency, or advocacy group to control or fight, in the same case they can do nothing about the system itself, so they went after the poor fringe end users with lawsuits instead which had zero effect on the "problem". Much like Bitcoin, the "problem" is that BitTorrent stripped distro control from media conglomerates, taking control back for ourselves as their extravagant greed and artist exploitation kept rising in the "Sell CDs Forever!" crowd. Even armed with a million top-dollar lawyers and scab computer specialists, PirateBay is more alive than ever. Much like the RIAA/MPAA was blindsided by some strange program from the dark corners of the web as they twiddled their thumbs content that their monopolistic CD selling enterprise would seemingly last forever, worldwide money is about to get the same uppercut with a much more intense effect on the world.

This is Big League P2P, those who hate are the ones with something to lose, like power and control, and will say anything to try and make Bitcoin out to be the devil or a scam.

Anything like that would ultimately be proprietary and under Gov control. Bitcoin is unique as it not only is designed to operate with no central authority, but it is completely open to public view as well. Anyone has the power to start their own currency with these open source tools, circumventing any "OneCoin" the government could create. Anything the government would do to stop it would be met with serious opposition, and much like the way Gov controls never stopped Bittorrent at all after spending millions, Bitcoin can't be stopped either without the Gov becoming North Korea in containing the Internet into a national Intranet, risking sparking a massive uprising. Last time someone even pointed a major, vague, and draconian legislation at the Internet, the response from Google and the tech industry was pretty much "do it an we'll shut this shit down ourselves". I think the Gov is assuming Bitcoin is a novelty and not paying much attention to it, for now. Remember, their Tech Czar or whatever in past has used phrases like "the internet is a series of tubes"...they have less than a clue about what this is or what it could become before it is too late.

I just hope it happens fast enough to where the Billionairs don't realize it and get stuck with Billions of dollars of effectively worthless currency, while the rest of us riding our BTC horse to freedom laugh all the way to the banks that no longer exist, because WE said so.

Other crypto-currencies like Litecoin could fill this role as it is intended to, silver to Bitcoin gold. More of them, worth less overall.

Cash out to what? $1,000,000 of soon to be worthless currency when China blows up and takes the rest of the world's economy with it? Do some research, this is actually happening right now as I type this. China's artificial boom will bust this year in all likelihood, which will then trigger a chain reaction meltdown moving to a commodities slump, housing slump, and the US itself will be bankrupt when US Medical care and student loan debt pop, and the US housing crash 2.0 to follow, rampant joblessness as the downsizing occurs....the USD and Euro may not exist anymore, and Bitcoin is the system that will vacuum up the pieces left. More and more people disgusted with shady banks and the shadow government (when groups of the most powerful people on Earth meet up once a year for a discussion, what do you think they talk about? More control and power for themselves).

I view Bitcoin as a liferaft, whatever I put in is staying in until BTC is the only currency left. Will that actually happen? Who knows, this is the wild west, and Bitcoin is our gun against oppression of banks and government that are literally engineering the NWO as they have for years, even proposing their own One Currency 10 years ago. I am in a big picture frame of mind with this. With the assumption that someday most of the world will convert to Bitcoin as the old economy burns, BTC will carry serious buying power in the future. This little bubble/increase right now will be trivial in comparison to what's next. Cashing out for $1,000,000 of a hyperinflating and soon to be extinct currency would be idiotic.

There seems to be two classes of Bitcoin supporters: the cash grabbers, and the true believers.

As a man made destitute by an unfair, patronizing bastard of a banking system, this is my cause, and this is my fight to help the USD find its way into a pine box along with those in control of it. Ill spend my BTC in the BTC economy as much as possible because the economy can't work practically if everyone just jumps in as a get rich quick scheme instead of staying in BTC land and buying things with it. I intend to have a liquid BTC fund to spend with, and a long term cold storage for savings.

It is my belief if things go the way I think they will this year, Bitcoin may be the only viable economy to join as one free of the debt problem and uncontrolled by any one entity. Plenty can go wrong as Bitcoin is so young, but its future potential is riveting.

Assuming all of the world's cap makes it into Bitcoin, each one would be worth about $3 Million in spending power assuming the pricing conversion holds on everyday goods. I think I'll be patient and wait, and if the market starts crashing I'll be headed to the exits like everyone else. Though it has survived a few crashes so far, rising from the 2011 one when everyone but the Bitcoin Faithful called it dead.

It will only get bigger as the economy destroys itself. A massive event is right around the bend that will rock this planet to the core, I can't wait to see what Bitcoin does then and my mining op is rolling. I can't justify putting my money anywhere else, because all of it is in massive danger. BTC is the only rising start out of this mess.

It has already begun

https://www.youtube.com/watch?v=EHdHm-n2JPE

http://www.thebubblebubble.com

Bitcoin, the ONLY currency on Earth actually backed by some kind of hard standard, may literally be our salvation as the only option to move to as banks, governments, and world markets all burn down within the next 6 months and very quickly. Im investing it all into Bitcoin (all being a paltry sum for me) now. If I'm wrong so be it, but if I'm right Bitcoiners will be saved while the rest of the world is screwed.

This is scary and real, 2013 may be a year to end all years.

It actually wont matter in the long run, or short run depending.

As soon as China finally bottoms out the commodities market is going with it that is primarily driving the EU's economy as China needs a lot of things to keep building structures for no reason that add nothing of value to their economy. Once it pops there will be massive unemployment, bank failures, businesses suddenly burning down, in addition to the massive reduction in the price of assets like metals and minerals across the entire world. Oh, and the massive housing bubble that is going on across several countries that make the US's 2008 debacle look like nothing, also due to China's fake economy driving it all in a car made of ridiculous debt. Once the material flow stops for these pointless megaprojects when the Yuan becomes worthless from increasing "slosh" bailouts, the EU is going to get absolutely hosed.

I don't think Cyprus could ever "borrow" enough money from its own customers to fix that problem when, not if, it happens. The Euro is about to get the shaft.

Get your money out now!

This is beyond heinous and unacceptable

To save their own asses Cyprus is content to help the small-medium business sector fail outright by simply taking their business funds from them to repay their many sins. So later when they manage to drive small business elsewhere, what are they going to do with that void in the economy?

Blind leading the blind...and Zeroday is the first of many real world victims of this giant bubbleconomy we have now. Unfortunately I think the first of many more to come.

Good luck I hope you save your business!

If all of the worlds currency was converted into BTC, it would raise each bitcoin (assuming it has reached its maximum 21 Million coins), each Bitcoin would be worth about $3,000,000.

There is a loooong way to go for Bitcoin to reach epic heights in finance, but what we are seeing here I believe is just the beginning.

A Bitcoin bubble is the least of the problems to come, which could elevate Bitcoin to the top in a hurry.

Go look at http://www.thebubblebubble.com/ (one of the same that predicted with accuracy the 2008 disaster), the world's economy is at the brink of a complete and total meltdown, in what could very well be the Great World Depression of 2015 (or so) where China finally melts and takes the commodities market with it that it has only sustained by faking it economically, rife with corruption and no plan to fix it. The US will soon be bankrupted by out of control medical expense, and most top nations including the US in the world can look forward to a massive housing bust at the same time.

The US is also poised to see its out of control college system burn down as a result of a complete default on over $1 Trillion in rising student debt, making it pretty much impossible for anyone of lower class to go to school after that. Add to the massive layoffs and budget cuts of the medical system once pops, they will be joined in the unemployment line with college professors and support staff. Way to many glut industries exist where trained workers outsupply the demand for them.  The unemployment rise world wide will be detrimental.

 I am convinced it is only a matter of time before the entire world suffers and starts looking for a fast way out, and there is no hope to save our current financial model. How can we with the same idiots in charge when the last bubble burst. These new ones make the 2008 Housing Crash look like a trip to Space Mountain in comparison.

The 2008 Recession was only a taster of whats to come as the US and the rest of the world ride out the current bubblecovery before an epic world financial crush.


Bitcoin could very well be the last hope as the only viable alternative when all others fail. We are right on the forefront of a fire storm that will be unprecedented in history. Bitcoin may just save the world afterall as a chance to reset our entire economy to a new system, and we'll be ready for it when it does.

Bankers and Bernake fans think Bitcoin is some novelty or a ponzi scam, they have no idea what Bitcoin is about to do to them. I'm really hoping Bitcoin creates a literal firesale across the financial landscape.

Bitcoin is our chance to reset the clock, worldwide.

Some countries are still doing ok financially, but the ones that are not could bring down their house of cards, things like Cyprus leading to public loss of confidence and even hatred. "Bank" is becoming a dirty word now. I can see a place in the near future as more and more banks pull this kind of crap or collapse people could turn to the new breed of cryptocurreny instead of some other depreciating fiat asset in droves. Bitcoin could in theory slowly absorb the damage and systematically erase all debt at the same time, as remaining assets become Bitcoins and debt is naturally absolved. Control would shift out of the governments and banks hands into our own, creating the first user owned and operated global currency fit for the digital age.

Or Bitcoin will be worth 1 cent a coin tomorrow, who knows what happens now. This is the first time anything like this has ever been tried large scale. The world is about to get very interesting in the next few years I think. Once Bitcoin starts eating the USD's lunch there will be a good fireworks show when our all knowing government steps in to try and stop it from killing the FED. Which they will fail, as no government to date has ever stopped p2p tech. BitTorrent was the test case, now this freedom could literally save the world from itself by doing the same to money. Ill be on the front line to ensure this actually happens.

Idiots broke our whole economy so badly it cant be fixed now as Cyprus proves by just stealing a bailout from their customers in desperation to save their fractured infrastructure , the only solution is to start over. Bitcoin is starting over.

Well, the Bitcoin market cap is about $1.5 Billion, a lot of money composed of several other currencies, a drop in the bucket of the total world's currency. As Bitcoin only grows as other fiats are converted into Bitcoin, slowly eating up these meatworld money systems. What is the price of a Bitcoin when it's market cap is $1.5 Trillion someday? Probably a lot more than what it is now. Those early to the party may walk away very wealthy people in our freshly minted brand new economy free of bankster scams and government lies.

I just hope this epic rise isn't an omen for an epic crash...