There's barely any movement/volatility in this market at the moment.

Market size is still 37 million US$.

It works, I got my brick. It went through the sewage pretty quickly.

I turn on minerd when I go home from work, haha.

Actually it shouldn't matter if someone figures out how to use FPGAs or GPUs to mine tenebrix. The faster the network goes, the higher the difficulty, unless someone fairbrixes tenebrix, haha.

In 2 years time, if Moore's law continues, CPU speed will double anyway, thus driving difficulty upwards?

Isn't the algorithm supposed to generate 1 block every 5 minutes => 7200 bricks/day ?

At current prices of 0.0016 btc / tbx that's just over 4200 btc per year... which in the big scheme is nothing.

can we get some retailer love for the brix

Risk wise:

bitcoin > stock > bonds > gold

Quite interesting. According to the Wikipedia article on gold reserves, the US has a >75% gold as share of national forex reserves, whereas China has about 1.7%. Maybe the respective governments' priorities are different.

Some companies buy back their own stock and invalidate them, thereby raising the price.

Maybe part of the fund could be used to buy some hardware to ensure minimal operation? Of course you can't really protect against a botnet...

I'm no economist, but I'm sure the whole Cryptoeconomy environment would lend itself to some academic studies etc.
Funding to manipulate currencies, haha.

Maybe you can phase out some of the coins eventually, that would drive up the price and build credibility.

Even better, spend dollars and don't wait for the feds to print more.

He's making it pretty clear that the chain is supposed to use spare CPU capacity. At the moment he can't really dump 7 million coins onto the market, so that has to wait for a while.

It's got nothing to do with patriotism.

For example, 5-10 years ago, 1 USD bought more than 120 Japanese Yen (the RMB was pegged at 8.28:1 for quite a long time). Now, 1 USD buys less than 80 JPY.

My wife's apartment in Beijing cost 400k RMB in 2000, now it's worth close to 2 million RMB.

Ok, I got 3 blocks now... I'm just using default settings.

I had a go at mining these since yesterday and it's really quite difficult to get a block...

I'm using:

1x i5 (4threads)
1x q6600 (3 threads)
1x athlon x2 (1 thread)
and 1 8-core xeon server (8 threads).

so far I've only managed to get 1 block on the i5... close to 20 hours now.

If the Chinese government wanted to crack down on virtual currencies, then Tencent Q-coins etc might also disappear.

Another fast way would be to shut down btcchina for good...

If every person in China put a dollar/yuan into bitcoin => wishful thinking

Or, if games companies use bitcoin instead of their own currency for virtual goods etc, that would be cool.

Some of my friends in China heavily invested their money in shares. That's an alternative to keeping money in cash as well.

Also, the People's Bank is highly likely going to raise interest rates again, or allow the Yuan to fluctuate more.

Save in China, spend in the UK.

This is good news. If more people start using BTC in China, then it will be a lot easier for me to transfer money from the UK to China.

Interest rates in China for 1 year fixed are 3.5% at the moment (for 2 year fixed it's 4.4%)

I understand what you mean. The highest total hashing rate I remember was around 18 Thash, now it's around 12.

For me, I don't have any immediate need to cash out. Surely, there must be some people who over leveraged themselves (maybe even on credit).

I asked my wife what she would do and she would say, if you think it's worth investing in it, do it over the long run.

I'm looking forward to the extra coinage due to the difficulty fall