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That sounds a lot more useful, thx. All expenses regarding transactions and administration are quadro in the Litecoin rate Bitcoin exchange rate, which makes it easy for exchange to see how much you will receive. You will not turn a profit. I am litecoin the same justin as the above justin. FAST 600 of yore.
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Charlie- but how do governments ban a peer to peer currency anyway? Share twitter facebook linkedin. The number of instructions does not directly equate to the computing time required to perform the operations. When has the governments ever accepted things when they cant control it? My writing is not a material thing. No, the database just tells what address has how much, when. The good and the bad.
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So, if you double the amount of people trying exchange make coins, you also double the amount quadro computer time needed to make one. They would indeed be litecoin and would, conceivably, trade at floating values rate one another, forint style. They all take quadro to manufacture, it takes more energy to make a penny then it does to mine one. Sorry, I 600 those arguments highly uncompelling. If they hold, they pray the government litecoin kill it before they sell. I've always thought Bitcoin was stupid, but exchange do some more analysis on the energy costs here, rate this 600 really should have included.
Quadro 600 litecoin exchange rate
AES went through 5 years of evaluation by the top minds before becoming a standard. Also, please tell me how it at all prevents a multiple-spending attack: Someone sends bitcions to multiple different entities, in rapid succession. How do you verify this doesn't happen? I understand that yes, eventually this can be traced, I mean as the person accepting them, how do you make sure this didn't happen and you aren't stuck holding the bag? Interestingly bitcoin is working despite all the arguments for or against it.
The only valid question with regard to the viability of bitcoin as a currency today, is "Is it a currency today? Aside from the uses, for which there are now many I have personally paid for survives, from freelancers around the world with bitcoin , approximately new bitcoins are introduced into the supply every day, and yet the value of the bitcoins has be rising over the past months. Even lately with the price off it's highs the constant influx of new bitcoins is not causing the bitcoin to lose significant value.
Fairness of early adopters doesn't enter into it. Early adopters helped to lay the foundation of the security which backs bitcoins, and were compensated for that service. You can participate and be compensated for that service too.
I would love to have been an Apple stock, gold or even U. But just because I wasn't doesn't me I should adopt now. If you don't like the idea of it as a currency, or a commodity, then just think of it as a software tool that allows you to move money electronically without friction unlike any other monetary device in the world , and therein you will find it's value.
Bitcoins is still far more speculative than the worst of the dotcom stocks, that it has a small market where other speculators will work or provide services for bitcoins - or simply to "prove" they're not worthless - doesn't make it a currency. That imaginary value will disappear in an instant when the bubble bursts.
I don't claim to predict when or how it'll happen, but it will. Though I suppose if you can time it correctly, you can turn into a millionaire like many of the dotcom founders I see no evidence of this at all. No major stores take it, so you can't use it for any kind of serious commerce. It isn't exchanged on any reputable currency exchange.
I've seen nothing done to address some serious flaws brought up like the possibility of spending a coin multiple times before it is noticed or the built in deflation. I've seen no analysis of the cryptography by leading authorities. All I see is speculators playing around and people who think Cryptonomicron is an instruction manual not an entertainment novel.
You compare it to Apple stock, I compare it to Flooz. Sure, there was a time when it was "worth" something and if you had gotten in and out in the right time you could make money. However as it was a stupid idea with nothing really behind it, it collapsed to nothing. I take it your concept of success is not very incremental. An all or nothing kind of thing.
I on the other hand see a technology that has only moved forward in terms of its uptake and usability, the exchange rate is immaterial to that although it as also moved up. I agree I would love to hear Bruce Schneier give it a bit of a public go over, but it is open source and anyone can review the code and the white paper. Many people have so far and no one has published a flaw.
You can't double spend, don't know. Bitcoin is not a scam. Have you reviewed the while paper, or the source code? I cannot find a flaw not that I'm anyone important. More importantly I can't find anyone else who can find one either. Not one person mind you. Much less an intention to defraud people. Oh sure I can find people who haven't even read the FAQ spout volumes about what's wrong with it. But I can't find a single knowledgeable person who can find a single real world flaw.
Bitcoin has one characteristic that could make it desirable and useful. It is a non-inflatable currency. It's de flatable as hell, though. Not sure why anyone would think it was a good idea for a growing economy.
Oil can be burned for energy. Gold is always in demand as a means of exchange, is a de facto symbol of wealth and is used in jewelry and has great use in electronics. Housing has a purpose - shelter. Tell me again what the point of bitcoin is, apart from greed? Even something as silly as a US dollar has more point to it than bitcoin - because people do not acquire US dollars with the intention of dumping their US dollars as soon as some exchange rate reaches a pre-determined level. They see US dollars as a store of value and a means of exchange, not a means of wealth acquisition.
They far outnumber people who use bitcoin for everyday trade. Therefore the collapse of the bubble is built in to the inflation of the bubble. And the minute the price goes down, everyone who was counting on an ever inflating price is going to panic and try to cash out right away.
In fact this has already happened. I keep wondering why do BitCoin articles keep showing up here. Any given article doesn't really seem quite nerdy enough to be real 'News For Nerds' and yes, I agree that most of the articles here haven't been News For Nerds for a quite some time , and it's kind of a weird topic.
So I'm going to coin a term that we can add to the Slashdot Taxonomy or the 'slashonomy', as I like to call it: I've always thought Bitcoin was stupid, but let's do some more analysis on the energy costs here, which this site really should have included. Not sure where they got their total watt figures from, but from a review site, it is W [pcper. This site says it's 50W more overclocked.
I'll be generous and not include this since the CPU isn't being taxed as much. So W power consumption. Which isn't as bad as I thought it'd be. They didn't include the effect of increasing difficulty on decreased mining speed, but theoretically the currency should become more valuable as it goes on. The performance of GPU-based codes is highly dependent on the video cards.
I think the authors most likely optimized the kernel code to AMD cards. This is evident when you look at the CL kernel code and you see that there are so many hardwired constants and fixed arrays aligned to ints or longs. Nobody cares about bitcoin. We don't give a rat's ass about bitcoin. Please stop posting stories about bitcoin. I don't know how many other ways there are to say it, but we don't give a fsck about bitcoin.
I can't say why others do, but in my case it's pure schadenfreude, seeing grown men go "I want to believe! I'm going to issue my own Fiat currency, backed by Fiats the automobile. I still haven't worked out how much the average Fiat should be worth. There's no real purpose in this, other than to confuse the hell out of people who think I'm issueing a fiat currency illegal rather than a Fiat currency perfectly legal, AFAIK.
Therefore, it shouldn't be too hard for me to fill a lot with rundown Fiats to back my currency. The dual port and IRS trans is worth more then the car with it in it. But that's because the guy who did the install was a moron. Maybe not with the If I didn't live in CA the sound of rust from my driveway would keep me awake at n. What's to stop a large corporation with a lot of computing power to generate bitcoins?
What if I have a cluster doing the work? Nothing would stop them. They'd make money, other miners would make slightly less money, and Bitcoin would go on. Assuming it was substantial enough of a cluster, it would push the difficulty of generating them even higher. Essentially its setup so that there is a set number of them created in a given time. The more people trying to make them, the more computer power required to make one.
So, if you double the amount of people trying to make coins, you also double the amount of computer time needed to make one. Thusly, the more people who join this fad, the less anyone is going to make. Please don't start mining Bitcoin. You will not turn a profit. People are on it: I think that if there's any likelihood of Bitcoin becoming significant, there's also going to be an increasing likelihood of someone dividing the problem space in such a way that it's addressable with appropriately-designed FPGAs and thereby killing that likelihood of significance.
There is no way to know without doing the FPGA design, at least at a high level. What you might make up for in one area, you might lose in another. The fact that the AMD's run at such a high clock rate with so many ALU's makes me doubt it would be worth it - but again, there is no way to know for sure without doing considerable work.
Just going on number of ALU's which is not really a proper way to compare, but is the only thing we for this discussion , only the latest HUGE and really expensive Virtex 7. The assertion that early adopters have an unfair amount of bitcoins is on the one hand completely irrelevant to the issues of usability, and on the other hand is completely typical of all inventions, commodities and the world in general.
This continued repetition of this idea stems from the misconception that Bitcoin is a Ponzi, pyramid or other type of scheme designed with the intent to defraud later adopters. That is not the design intent of bitcoin. It is an online medium of exchange that compensates people who improve it's security. The fact that people improved the security early on helps the security for everyone later.
They got paid pennies at the time, and people who are helping now are getting paid pennies too. It has turned out that those pennies if they kept them have become valuable now. The reason bitcoin is being talked about so much is not because someone is trying to scam you and "cash out" their early adopter advantage. You needn't hold bitcoins to participate in bitcoins. You can change them to cash the second you receive them.
Bitcoins are useable now. They are a currency now. I would respectfully recommend that people who want to talk about what's wrong with bitcoin do their due diligence, before commenting on something that they clearly have little understanding of. All of these elements provide value whither you call it currency, commodity or just software. I use it to do work, and I find that valuable to me right now.
The value of bitcoins is not a theory, predictions of it's failure are what is theoretical. The concept was supposed to be that Bitcoin would be a widely used currency for micropayments. In practice, the Bitcoin world is mostly speculators and "miners"; its use as a medium of exchange is trivial. So there's considerable interest among current holders in finding new suckers before the whole thing goes bust. It is a misconception that Bitcoins are good for are where ever intended to be used as micro-payments.
As little as it is there are still fees involved, and although they are optional now it is a part of the design that all transactions will eventually required fees. The features of bitcoin lay elsewhere as I have discussed. It is also a misconception that the only use of bitcoins now is as a commodity. That is increasingly less true, and soon will be the smaller part of the bitcoin economy, because of th. Right, the fact that any one of the early adopters sitting on a few thousand coins or 'Satoshi' and his millions could destroy the market in seconds, that's not an issue for you?
The complete lack of stability implied by that? An effect that can and will become worse over time as bitcoin prices rise and bitcoin generation for new entrants generates ever smaller amounts. And that's leaving out the general idiocy of building in such a tiny limit to the currency and ensuring massive deflation over time.
Yes, that's right, gold always appreciates, always. Just put all your money into gold, you can't possibly lose! No, the database just tells what address has how much, when. If you do a transaction with someone, all you can look up is how much that address currently has.
Since anyone can have any number of addresses, all that does is give you a lower bound on their holdings Create a rival currency. Get a lot of 'miners' to jump aboard hoping to get in early enough and maximize profits. Dump your hidden cache of new-bitcoins oops I mean???? Disappear with your profits. Actually, there's something else you can buy: And the big advantages of bitcoins?
Let's go over the advantages, shall we: Your customer base is therefore the entire world not just people with your "coin of the realm" -makes it easy to launder that drug money.
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Sign up for the Slashdot Daily Newsletter! Vigile writes "For users that have known about the process of bitcoin mining the obvious tool for the job has been the GPU. Miners have been buying up graphics cards during sales across the web but which GPUs offer the most dollar efficient, power efficient and quickest payoff for the bitcoin currency?
This discussion has been archived. No new comments can be posted. About bitcoins at the current exchange rate. It'd take you about 4 months to make that using that machine. Of course, that all depends on the market for bitcoins which is anyones guess. Plus the electricity, to run that machine flat out for four months, which I imagine will be way more than pocket change.
Parent Share twitter facebook linkedin. Share twitter facebook linkedin. What's not to like? No-one's going to force them to go out and exchange any of their 'real' money for BTC. I figured in the end it was so they can be in the elite, cynical 'I told you so!
According to some, even the stories about MtGox being hacked were somehow "slashvertisments" for BTC. I'm all for correct use of language and such, but the definitions you've given are somewhat narrow and I think you know it.
Now, before I post my next bit, I want to make it clear - my feelings on Bitcoin are irrelevant to this post. I am neither supporting nor bashing Bitcoin here. Another definition taken from Wikipedia the fountain of all human knowledge don't you know: How long before you've made enough money to pay for that machine. Did you buy it with bitcoins perhaps? You're really going to ground your entire criticism on whether I personally have cashed out? You better bring something better to the argument.
Thus, your best bet with bitcoins is to not spend it, but to hoard it Your argument defies reality. Comparing them to a stock market that is basically run like a big roulette game is not a great recommendation of the value of bitcoins as a viable alternative currency. Most people would not want to put their entire salary straight into highly volatile stocks each month, they just want to know they can buy food and so on.
And before that, the last article was two weeks previous. First Posts are my new Score: Our problems are solved! With all that computation power being used I can't help but think about projects like Folding Home and think it's a bit wasted on the sort of margins you'd be getting back - even at the optimistic high end which don't factor in power costs.
Number 2 is your answer Score: I agree that it's less certain that. Why should we care? More power to people who come early As they mentioned, Namecoin is still in its infancy but serves exactly that purpose.
Right now there's a fee to register domains, to discourage initial domain squatting, and those coins are lost forever into the ether, but that fee will eventually dwindle down to zero no clue what the timeframe is though. That's precisely what it is Score: Sorry, I find those arguments highly uncompelling. Credit card transactions happen in seconds these days. You've said a lot about what you'd like bitcoins to be. That changes nothing of what they are.
Ah, so it's like the stock market expect people can make money with it? So now, would you now kindly explain what emperor's. Strictly speaking, Bitcoins are only kind of non-inflatable: Each bitcoin is mathematically verifiable, so you can't just print a duplicate or 10, duplicates, and each chain yields only a finite number of them presumably a slowly-shrinking pool; because some will be lost to bit-rot over time.
However, there isn't any particular reason why you couldn't start additional chains. They would indeed be incompatible and would, conceivably, trade at floating values against one another, forint style. My point was merely that while cryptographic currencies have the advantage of being essentially unforgeable unlike, say, dollars, which the US Mint could conceivably print more of, if people started responding to inflationary pressures by valuing older bills more and only paying taxes in the new ones ; but that there would be no particular obstacle to running any arbitrary number of Bi.
I get it Score: So now it induces nerds to stock op on GPU hardware? BitCoin is not currency at all, is just a new game genre: The hottest MMOM in town. Makes no economic sense. If you are "cashing out" of bitcoins, presumably you are taking a profit and leaving someone else with a loss.
If the only way to realize your profit with bitcoins is to cash out, everyone who is mining for profit is taking equity out of the system. What happens when everyone decides to cash out at the same time? Oh, it already happened recently Aside from driving up the price, and creating a lot of paperwork, they never deal in the actual commodities.
Factoring in energy costs All expenses regarding transactions and administration are included in the Litecoin to Bitcoin exchange rate, which makes it easy for you to see how much you will receive. Fast and simple LTC to BTC exchanges, dont play well with complicated user registration forms, where all kinds of unneccesary information change hands - so we simply left that part out.
Crypto currencies such as Litecoin and Bitcoin are all about anonymity and we are all about crypto currencies. So in the spirit of anonymity, we will not ask you to provide any personal information in order to use our service. If you'd like to stay in touch, as well as receive an e-mail confirmation of the exchange, feel free to leave your e-mail address - but it's entirely up to you - no hard feelings, we promise. Well, instant may be a big word. We will carry out the exchange as quickly as the Litecoin network confirms your transfer to us.
As soon as that happens, we will transfer the Bitcoins to your wallet. That way we do our very best to ensure that the coins will end up where they are supposed to and everyone stays happy. Confirmations usually take between minutes which might be considered instant, compared to other services and we will keep you informed every step of the way. Make easy Litecoin to Bitcoin exchanges No fees Instant exchanges 1.