If governments controlled the majority of hashing power, does Bitcoin become a fiat currency?

lol... So B&N has already agreed to carry it, the magazine isn't out, and you complained to them and demanded they start carrying it.


Stay classy, Bitcoin. 

- and it only takes ~7 months to break even!

Perspective -- this is an image from Las's server. I assume it was his balance ~June 2010 by the modified date.



... So don't make fun of him too much -- it's quite possible he's a very, very wealthy fellow right now.

~18.6BTC to lend. Will still match IBB loans. Just today and tomorrow left for special CD rates before it falls back down.

ETA: Just received a 200BTC deposit. Plenty more to lend.

If we're just going to ban anything obnoxious............ You know.

    

Only if you want to know whether or not you'll even be making a profit doing it.  Given the low hash rate, assuming it's an ATI card, and assuming your entire computer consumes... Idunno... roughly 250W - you'd need to be paying ~$.07/kWh (after fees/taxes - not "price to compare") or less for it to be profitable. Very unlikely this is worth your time.

+1. Was frustrating to have my account info leaked way back when, but they've always been quick to respond to my inquiries, and offering a free Yubikey was appreciated. I've been quite pleased with them and their advancements in service.

Depends on the power draw and how much you pay for electricity. If it's a Nvidia card, I can answer pretty quickly: no.

If you're confused about the CD terms, I apologize. Feel free to PM me any questions (or PM theymos to ensure the [collapse] function is included in the forum update!).

[ETA: This wasn't in response to Vin]

"June 10, 2011: Success : Converted 50 BTC at $28.70 per, for $1430 USD."
"Apr 13, 2011: Success: Converted 96.99 BTC into $86.38 USD"
*shudder*

Depends primarily on your electricity rates, but also on your outlook. Mining components are a relatively illiquid investment, and you probably won't be able to recoup >60% what you invested on anything but the GPUs (unless you buy a particularly energy-efficient PSU, perhaps). Your ability to react to rapid and dramatic market shifts will be crippled -- if BTC rises from $6/BTC to $8/BTC, unless you've been hoarding coins, there's not any way for you to take advantage of that situation. OTOH, if the value of Bitcoin drops dramatically to become near-worthless, you're not out too much because the components you use can just be sold off. Mining also guarantees income (not profit, though), fwiw.

If you buy electricity <$.15/kWh after all fees & taxes, I'd say go for mining. Otherwise, buy the coins if you want to get in BTC.

Next, attach the nozzle of a ShopVac.   

Clever. Signed up. 

Attempt to control the BTC price to force it to stay right around $7. Buy all BTC up to $7, then set up a massive bid order @ $7, and a massive ask order (with all remaining coins) @ $7.00001. Hold out for as long as possible, which should be a very long time unless the coins run out which were bought between current price & $7. At that point, were I really committed to blowing through the $10m, I'd start buying Bitcoin above $7 and re-listing it @ $7.

Yes, probably, and folks with the more efficient miners & lower electricity rates would probably not even be taking losses while others are forced out due to lack of profitability.

- But, I'm not mining with particularly efficient equipment and I also don't have particularly low electricity rates, but I don't recall there ever being a time when I was losing money mining. So, for now, I don't think we need to worry about mining becoming worryingly consolidated. When FPGA advances a fair bit further than it is, though... it could become a serious problem because most FPGA miner owners won't have any other purpose for it than mining, and because they're so energy-efficient, it doesn't matter much how difficult mining is at a low BTC price, or that there's not much resale value in those circumstances.... They'll just keep mining, and GPU miners will be pushed out.

Mining difficulty tends to be based on the price of Bitcoins (though it lags). This makes it profitable for most people to mine. Only in an event where the price/difficulty correlation dramatically breaks will people with unusually cheap electricity be the only remaining miners. Currently, this is not the situation -- my electricity is not unusually cheap, and I'm making a bit over 2x electricity costs using 5850s, which aren't noted for being particularly energy-efficient. It could be a problem, but I don't see it - right now - being a problem we should worry about.

I'm a firm believer in the George Carlin view on rights/privileges.

http://www.youtube.com/watch?v=gaa9iw85tW8

Do what you want, and if I dislike it enough, I'll kill you or otherwise aggress (this is, currently, usually the job of government -- I disagree with its necessity, and in many current cases of its existence, its benefit). Works both ways, so in general, don't piss people off unless you're capable of defending against them.

So............... Has anyone actually tried mayonnaise long-term?

Damn clever move, Gox team!  Was this a direct result of hazek's hell-raising with CxC?