Okay, so pink bitcoins are patronising, my bad ... gold is good then eh? Has always had a special attraction for the fairer sex.

Funny thread drift but has a kernel of relevancy here, female acceptance of bitcoins will be essential.

Many females hold the purse strings and they were the first adopters en masse to on-line shopping and e-commerce; clothes, shoes, books, food, etc. In fact, it is well known that females make the majority of decisions for purchases and household spending.

Some wise guy once said,
"You want to know why women are more powerful than men? They got half the money and all the pussy."

!Crude but element of truth.

We need to get that pink bitcoin logo doing the rounds more.

Can I pay you 175 BTC when I get started mining? You'll get the first 175 I mine.

I can't justify buying BTC through the money changers with all the fees they charge right now.

Anybody gone down the liquid cooling path yet?

http://www.swiftnets.com/products/EPSILON-GTX295.asp

Comments, suggestions?

Well, well, oh learned one. If you haven't figured out the link between money, economic freedom, personal freedom and its anti-thesis to socialism you have along way to come. Hint, begin with why gold is money for the ages and why socialists and facists alike hate it.

Not the sharpest tool in the shed eh? You seem to be a forgotten, rusty old socialistic relic left in an abandoned gully somewhere, like a railway system from the 1900's.

I'm just happy that a hard crypto-currency like bitcoin has become a reality.

It will end all the socialist schemes and communistic central planning (banking) nightmares we are living through (Greece, Ireland, Portugal, USA, China). They are all based at their root on stealing other people's earnings and the way they get that is primarily through fiat currency and central banking. Otherwise they will need to use taxes and guns and today's socialists don't have the guts to get behind a gun and demand the gold like their evil founders and predecessors did.

Bitcoin spells the end to coercive socialism and for that I am thankful, it is the beginning of the end for a black period in human history.

Btw, Open Country is kicking fonterras sad socialist bum in the provinces, do your own research with the real farmers.

foo barf is full of crap ... NZ had its best economic growth in decades after the free market reforms ... only since the heavily communistic Labour has come to power for 9 years of stick-your-nose-up-your-neighbours-bottom has standard of living gone backwards again.

... central planning doesn't work foo barf, Soviet russia was a complete failure, get over it, communism lost ... socialism is bullshit too ... there is no incentive for the individual to excell when everybody owns each others shit, come back into the real world ... get off the dole and get a life. Socialist bludgers blight NZ, we have more than 10% of the population on some sort of "social welfare" and god knows how many working in useless govt. departments that do nothing ... and they are always screaming for more hand-outs and more taxes ... it really is theft ... but the bludgers who don't earn it don't see it like that ... no surprises there.

foo barf is an embarassment to NZ, he should move to N.Korea where socialism is working out the way he likes.

Great example.

Bitcoin will work very well in office spaces or anywhere people are largely network connected and trade the goods face-to-face. Mobile app gonna be the killer app street vendors, markets, mom 'n pop shops could benefit.

Big box retailers have a lot of inertia invested in the current banking system so maybe last to offer BTC payment methods.

Hi Miners,

There has been some discussion about the current costs associated with mining for bitcoins. Obviously it is dependent on a few variables but if we could come up with a ballpark figure, or a range, for the UScents per GHash/second at the current difficulty.

Take the most efficient card now available, AMD HD 5970, run it at most efficient clocking/power consumption, calculate the (GHash/s)/kiloWatt,
https://en.bitcoin.it/wiki/Mining_Hardware_Comparison
I suggest measure it directly for your total rig, i.e. include mobo, monitor if you use one, etc.

Multiply by your local kiloW.hr electricity rate and divide by Bitcoins per GHash/sec at current difficulty,
http://www.alloscomp.com/bitcoin/calculator.php

Estimate current UScents/ bitcoin. Add on top of that card amortisation (say 1 card last for 12 months on average). Call this gross expenditure.

Add on top 30% for sys admin and sundry overheads (more if you think necessary). Get final UScents per bitcoin, (or whatever your local currency units if you prefer.)

I'll do a spreadsheet if anybody wants it.

.... tell him he's dreaming.

The Castle.

So BUY at USD 0.5 = 1 BTC? 

Tolsi is a virus from a central bank plot?

This is misleading, in the current expansionary phase, the bitcoin money supply is exploding by any traditional monetary measures.
The year on year percentage expansions in the first few years will be 50%, 33%, 25%, 11%.
https://en.bitcoin.it/wiki/Controlled_inflation

After 6 years the monetary expansion of BTC will still be 10% and only after 13 years will it drop below 3%. A hard money gold standard, where monetary expansion is the amount of gold being mined and added to the above ground reserves, has an expansion rate of about 2.5% (amazingly this has held true thoughout centuries). Bitcoin monetary expansion will not drop below gold expansion until 13 years has passed from the production of the genesis block.

Not necessarily, I'm just stating where I think the absolute floor is in the BTC/USD market, i.e. cost of production.

The range of intangible premiums, over and above cost of production, that people may place on BTC are innumerable. Uniqueness as private, simple electronic exchange medium will likely have a huge premium placed on BTC in the current world of authoritarian monetary authorities jealously guarding their legislated monopoly on money issuance. These kinds of value estimations are fickle perceptions, much of it confidence based, and as impossible to predict as where a stampeding herd will run.

So, no not short, yet.

Several of the miners with high-end, efficient rigs have stated that at 1 USD= 1 BTC, for mining to become unprofitable difficulty would have to increase 20-fold.

Alternately, 0.05 USD = 1 BTC would also be the limit on profitable at current difficulty, i.e. the current cost of electricity hardware amortisation, admin overheads, etc. I think it is probably around 0.1 USD = 1 BTC since these guys are putting in a lot of unpaid "geek" hours for their pleasure that probably don't get accounted for in costs.

Yes, PRIVACY is good, we even have laws that guarantee it ...

ANONYMITY is criminal, we even have laws that outlaw it ....

go figure, where is it written a schizophrenic state must be obeyed?

Apparently;

heroin
cocaine, methamphetamine, ecstasy, LSD ... (pick the favourite recreational drug that you hate)
money-laundering
paedophiles
tax evasion
homelessness
terrorism
abortions
contraception
homosexuality
bestiality
poverty
love of money
.
.
however, I may have missed something that would depreciate the "brand" of money?

Bitcoins major problem right now is the market is highly illiquid and getting in and out of BTC to other currencies is a slow, difficult and expensive process. While this is the case the market price will swing wildly, relative to other currencies, making it less attractive to merchants to peg a fixed BTC price on their goods. However, as the exchange process becomes more efficient a solid clearing of BTCs and other currencies should bring the spreads much tighter.

As bottom end reference (lower bound), the current production costs of bitcoins is running around about 5 to 10 UScents per bitcoin.

There are currently 546 trillion satoshis in existence (100 million satoshi = 1 bitcoin), the smallest denomination.

No, this is just the police state clicking up another notch.

Nobody believed us when we said banking Know-Your-Customers was the beginning of the police state.

"If you have nothing to hide what are you afraid of" they denigrated the gold bugs with.

It has a life of its own now and will run full course. There is almost a majority of the society dependent upon the spoils of the police state, taxes, fees and fines, so no, it won't stop until the society is destroyed and reset.

Maybe the years of not having an honest monetary system due to communistic central banking has debased the morals ....