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While necessities of life are never valueless, even in the case of something like air which we usually don't pay for, that's not quite the same as having a constant value in a monetary sense. How much water can you get for a pound of salt? Nobody can live without either, but their relative values are certainly not fixed in a monetary sense. No single commodity can serve as a reference value for everything else.
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Seriously, it's dropped from $32 to $10. Wtf.
What's going on? I'm seriously getting concerned now. I've lost over $100.
What, so you bought ~5 BTC at $32 and sold them at $10? Maybe this just isn't your thing, nothing wrong with that. |
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An online exchange is also not absolutely necessary to exchange bitcoins for cash either, going by the ads on my local craigslist there are people who will buy them in person for cash or even silver. Of course, that sort of thing might be a lot less likely if all the exchanges were shut down somehow.
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You found them in your basement? Where did they come from?
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One downside with the P4 especially is power consumption. If you happen to be sure you will only ever use one GPU, there are some very inexpensive, low power motherboards that come with netbook style processors (Atom D4XX, D5XX, AMD E350) and can be well under $100 for the combo for some of the Atoms. I have a Sapphire E350 (18 W TDP) and it suits me fine for mining with one card, although I didn't buy the mobo for mining specifically. It's not what a lot of people would go for though of course, but I am pretty sure the CPU is not bottlenecking mining performance in any way. Case and PSU were from a crap P4 that idled at 150 W.
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Sounds like a lot of hard drives, if you care about power consumption you might think about what is worth disconnecting to save the extra watts. The amount might be small compared to the GPUs but every bit counts when you are running 24/7. The 15k system drive would be pretty power hungry and the performance is not really needed for mining.
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One thing I don't like about the real life union movement is the resentment against 'scab' workers, i.e. those not part of the union who will work for less. In this case a formal union might lead to the same kind of attidude, but at the end of the day if someone wants to sell their services for less it's their choice. (That's not always true with real life unions of course though). Just publishing a 'suggested price' on the other hand doesn't suggest any obligation to stick by it, which is the way it should be. That is, unless there is an agreement between a buyer and a seller to make transactions at the difficulty based price regardless of market rates.
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Here's an idea, figure out something you can profitably pay people in bitcoins to do, that can be done just sitting at a computer. You can't have a real economy without jobs, and right now about the only viable 'job' that pays in bitcoins is making bitcoins. It would have to be piecework because paying hourly would create an unnecessary administrative burden.
There are all kinds of bored-ass people sitting at computers who might be happy to e.g. proofread OCR, categorize images or write/summarize articles for money. Some are bored enough to do some of that for free but eventually anyone gets tired of that, look at how the Wikipedia model frustrates a lot of productive people into leaving. Whatever they make, even if they don't make a lot starting out as is the nature of piecework, can potentially increase in buying power if the price of bitcoins goes up. Additionally, the fact that all those people have bitcoins to spend furthers the goal of widespread use. You ensure quality by cross checking results and rewarding high accuracy/writing quality with extra bonuses.
Good points and good thinking. What about on the e-commerce end? Can you elaborate on what you mean? |
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OK then. Personally I did find it more readable when it was only showing a few days worth, as it was until today sometime because I hadn't been going a full week. Now it shows several days of blank space before I started which it didn't before. Just using thinner lines would even do the trick actually since I can zoom in with the browser.
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Using 2.4 with phoenix/phatk seems to give the same results people report using 2.1. What value are you using for aggression? Up to a point (ie if GPU utilization is a lot under 100%) you can increase hash rate by increasing the aggression value.
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Simply publishing a reference price based on difficulty is enough to let inexperienced miners know what is a decent selling price. Fixing the price across the whole market is not necessary or even possible really. If someone with a lot of capital wants to make a standing offer to pay difficulty/25000 or whatever then great.
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Might just borrow this thread for a question.. I had around 2BTC on my computer 3 days ago. The computer had some problems and I had to reinstall the OS. Now, when i installed Bitcoin again, i got a new wallet, am i right? So the old bitcoins just.... dissapeared?  Just restore your wallet.dat backup. Problem is, i didn't have time to take any backups, (except for stuff on my other harddrives..) You just lost your BTC forever, then. If the hard drive was not formatted but just had the OS installed, the wallet.dat file is probably on there somewhere. Do a search or look in \Windows.old\Users\(Your old user name)\AppData\Roaming\Bitcoin if using a recent version of windows. XP calls the old users folder something else. For other OSes just do a search. Tip me at 16wEsax3GGvJmjiXCMQUWeHdgyDG5DXa2W if that helps. A minute ago you had zero right? |
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Here's an idea, figure out something you can profitably pay people in bitcoins to do, that can be done just sitting at a computer. You can't have a real economy without jobs, and right now about the only viable 'job' that pays in bitcoins is making bitcoins. It would have to be piecework because paying hourly would create an unnecessary administrative burden.
There are all kinds of bored-ass people sitting at computers who might be happy to e.g. proofread OCR, categorize images or write/summarize articles for money. Some are bored enough to do some of that for free but eventually anyone gets tired of that, look at how the Wikipedia model frustrates a lot of productive people into leaving. Whatever they make, even if they don't make a lot starting out as is the nature of piecework, can potentially increase in buying power if the price of bitcoins goes up. Additionally, the fact that all those people have bitcoins to spend furthers the goal of widespread use. You ensure quality by cross checking results and rewarding high accuracy/writing quality with extra bonuses.
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Didn't spend too much on my gear, I can afford to part with the money regardless. That is funny though. Next up, special on refurbished 58XX's on newegg, 49.99 and up.
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I notice that the time scale of the second (hashrate) graph has changed, used to go back to when I joined eligius a few days ago and now it's a full week, which makes it a bit harder to follow intraday trends because it's so cramped. Maybe it always showed a week worth of data when you'd been on the pool that long, but what about either a)giving a dropdown menu for time scale with a few options from e.g. 12 hours to 2 weeks, or b)skipping the control and adding a third graph showing hashrate over the last 24 hours?
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Must be a different card than the 5830. Maybe 5850?
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She's a sweet girl that was sucked into a fools dream, and I hope she bails on him, because I warned him too and he's just dead set on this bullshit.
LOL, didn't you say he was likely to lose his girlfriend at the start of the thread? Sounds more like wishful thinking on your part. |
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It's also possible that eventually mining will only really be feasible in a few places where electricity is the cheapest.
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Pulled those from one of the other charts, changed it so it's just MH/s/$.
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