What do you spend your hard earned bitcoins[btc] on?

[yrtrnc]

So what do you spend your hard earned BTC on?

Or do you hoard them hoping the exchange rate will go up?

[MtGoxTraderBot]

Hoard or keep, depends on the day of the week.

[Badonkadonk]

how about: save, buy asic`s, save more, buy more asic`s, rince and repeat till you can retire and live off bitcoin mining!

[Zack]

Pre-ordering ASICs

[Monkey1]

Or investing!!

[underworld07]

VPN subscription - mullvad.net takes bitcoins (and has a zero logging policy)

[Zack]

VPN subscription - mullvad.net takes bitcoins (and has a zero logging policy)

I could only wish that Cyberghost takes Bitcoins

[bool101]

Satoshi Dice is good fun.... and ASICS

[BR0KK]

I sell them them at bitcoin.de

Second: invest into mining Bonds at GLBSE.

Third: buying 4 issues of BTC Magazine.

[Jovi]

I understand the basics of bitcoin, but wouldn't buying those ASICS be prohibitive to bitcoin production? If you buy an ASICS-based system, don't you drive up the difficulty of obtaining bitcoins for everyone else? And if more and more people buy ASICS-based machines, that would mean that you're basically where you started, except with $15,000 & $30,000 rigs instead of a rig that cost a few thousand, right?

[Gabi]

Eventually everyone will buy ASIC. So what matter is how much do you invest. You can't compare a few thousand rig with a 30.000$ one!

[Malophor]

You can work your way up to that 1000GH/s machine by buying the smaller rigs first. Once you reinvest and get 25 of them running you will be on par.

[yrtrnc]

Seems like Asics are the way to go. Only if they change the code then alot of people are buggered.. All that investment down the drain.

GPU miners will wish they never sold their rigs.

[Gabi]

Only if they change the code then alot of people are buggered

But the code won't change

0/10 trolling

[yrtrnc]

But the code won't change

0/10 trolling

Its near impossible is my guess, but there is a slight chance no?

Its unknown how the Asic's will effect the system right?

[Malophor]

ASIC's won't break the current system. It will drive difficulty up in all likelihood. Quantum computing on the other hand could do some damage to the current algorithms (or so I've read). We probably won't be seeing those until all BTC have been mined however.

[Gabi]

but there is a slight chance no?

No one want to change that right now, so code should not change.

Its unknown how the Asic's will effect the system right?

They will just increase difficulty. Nothing else.

[theasian09]

I understand the basics of bitcoin, but wouldn't buying those ASICS be prohibitive to bitcoin production? If you buy an ASICS-based system, don't you drive up the difficulty of obtaining bitcoins for everyone else? And if more and more people buy ASICS-based machines, that would mean that you're basically where you started, except with $15,000 & $30,000 rigs instead of a rig that cost a few thousand, right?

Even if hardware went stagnant right now, difficulty would go up...ASICS just make it so that whoever owns them can continue to mine at a reasonable speed.

[scrib]

I intend to use my Bitcoins like cash whenever I can also save some.

[btctrade5500]

newbie question: what is ASIC?, I presume from your posts it's a mining machine. Is it the same as the one that Butteryfly Labs is selling? Thank you