Quote from: casascius on February 21, 2011, 11:04:09 PM

Quote from: SmokeTooMuch on February 21, 2011, 10:59:55 PM

Quote from: casascius on February 21, 2011, 10:49:55 PM

Value of a BTC will always be related to the cost of power to produce it, since that's directly related to difficulty, which in turn is related to Bitcoin's popularity wrong why?

I am assuming today's BTC's are worth 57 cents, despite 0.85 at MtGox wrongThen mining is more profitable than I say it is

I am assuming difficulty will rise 30% every ten days dunnoRise less? make more BTC. Rise more? BTC worth more. Which?

I am assuming my two 5970's will always give me 1.2 GHash/sec could vary through driver updatesbut of course, you won't install a driver that reduces output, will you?

1. Bitcoin can fail anytime (see the thread about a google competitor) and electricity prices aren't the same worldwide.
2. I don't see how they can be worth 0.57USD when the market price is way above. Maybe I misunderstood something ?
3. I just can't estimate the growth in difficutly, there could be a jump-in or a jump-out of huge computation power anytime.
4. If you need the cards for other stuff than mining, you maybe do.