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Showing 5 of 5 results by BatmansBitcoins
Kramble, that's an impressive piece of kit. I haven't read the entire ~150 pages , but that's about one of the coolest pieces of kit I've seen on this thread. It's not about the MH/s, its about getting stuff to work. Hat's off to you! Way beyond my "Electrotech 101" which is some 20 years old now back in college where we'd blow up a capacitor/inductor or two :-)
To the person who was interested in 10 port USB hub, this one works good (and is cheap)
http://www.amazon.co.uk/TeckNet%C2%AE-Power-Adapter-Cable-Chipset/dp/B00DCO9YVM/ref=sr_1_5?ie=UTF8&qid=1375821594&sr=8-5&keywords=10+port+usb+hub
Don't know if you can get it in the US, but 21 pounds works out about 30 USD - but shipping from England would be heavy I would think.
To the person who was interested in 10 port USB hub, this one works good (and is cheap)
http://www.amazon.co.uk/TeckNet%C2%AE-Power-Adapter-Cable-Chipset/dp/B00DCO9YVM/ref=sr_1_5?ie=UTF8&qid=1375821594&sr=8-5&keywords=10+port+usb+hub
Don't know if you can get it in the US, but 21 pounds works out about 30 USD - but shipping from England would be heavy I would think.
Not sure if "advertising" is allowed here or not, but I recently stopped mining on my 5870 and I'm selling on ebay if you fancy a punt. I mention it not so much to make money off the card from someone here, but I'd rather it goes to someone as a miner piece of hardware rather than "Joe public" who'd probably use it as a GPU. Most of them go for 70-80 euros as a guideline, but I don't have a reserve set.
Gave up the 5870 as a means to mine as the bitcoin/watt equation isn't great anymore unless you have free power. I did overclock the puppy and it was stable at 950mhz, so you should get good returns on it doing some non-bitcoin mining
http://www.ebay.ie/itm/151095564764?ssPageName=STRK:MEWAX:IT&_trksid=p3984.m1423.l2649
Happy bidding!
Right now the primary way of obtaining bitcoin is trading for fiat currency. The difference between your Euro example is at some point people started receiving their salaries in EUR, while this will not happen in the foreseeable future with BTC, even if adoption increases as those of us bullish on BTC think it will. Companies will start offering employees the option of being paid in BTC only after their revenues are coming in in BTC in meaningful numbers. BUT, and this is a very important point, the current size of the bitcoin economy cannot support a meaningful amount of purchasing power; $1.something billion with the majority of that being held does not go very many ways in a multi-trillion dollar economy; so in order for this reality to happen, the price of BTC would have to be exponentially higher than it is now.
Very true - but unfortunately it (the adoption of the euro) was the only near-ish example I could think of in real life which I can equate to. Even though it was 10 years back, I can remember it well when I got my first pay check in euros. With the euro being 1.27x times the old Irish punt, it "seemed" like I got a payrise, when in reality I was getting exactly the same "money" as before. I didn't mean to suggest that the adoption of BTC would be the same, only that it would be similar from a psychological view point. i.e. How many goats can I buy with 1x BTC is all that matters verses USD or Euro or magic beans.
Yeah, I'd also agree with that summation that for it to replace fiat it would need to be "backed up" with a heck of a lot more than the 1xbillion USD that it's currently got - but remember, some 12 months ago it was down in the 80-100 Million so it's not impossible - just unlikely.
Me? Like everyone, I'm hoping my paltry few BTC's will explode and that I can pay off some of my mortgage in fiat :-) Well, we can all dream can't we?
Slightly off topic: I remember reading a SCI-FI book "Red Mars" some years ago where the author had a great description of the value of money on Mars. Must have a look for that again.....
Very true - but unfortunately it (the adoption of the euro) was the only near-ish example I could think of in real life which I can equate to. Even though it was 10 years back, I can remember it well when I got my first pay check in euros. With the euro being 1.27x times the old Irish punt, it "seemed" like I got a payrise, when in reality I was getting exactly the same "money" as before. I didn't mean to suggest that the adoption of BTC would be the same, only that it would be similar from a psychological view point. i.e. How many goats can I buy with 1x BTC is all that matters verses USD or Euro or magic beans.
Yeah, I'd also agree with that summation that for it to replace fiat it would need to be "backed up" with a heck of a lot more than the 1xbillion USD that it's currently got - but remember, some 12 months ago it was down in the 80-100 Million so it's not impossible - just unlikely.
Me? Like everyone, I'm hoping my paltry few BTC's will explode and that I can pay off some of my mortgage in fiat :-) Well, we can all dream can't we?
Slightly off topic: I remember reading a SCI-FI book "Red Mars" some years ago where the author had a great description of the value of money on Mars. Must have a look for that again.....
As much as we all hope it will reach $1000 per coin, I do not believe it will. In my opinion a price of $300 might occur but similarly with what happened in March, I believe the price would collapse. I believe that the average price of BTC will hover around $100 for its lifetime. I believe that people will find $100 to be an easy amount to calculate and also selling with occur from $110-$150 whereas buying will occur in major numbers from $50-$75. Bitcoin prices will definitely fluctuate past these figures but I believe people will find $100 to be the price in the long run due to supply and demand from what I've seen. I'm no economics major though so this is only a slighted educated guess. 
As mentioned, I'm no economist either but I'm curious as to why you think it will hover around the 100 mark. Sure it's a nice round number, and I get where you might be coming from with
converting back to fiat, but for us here in Europe (some **350 million people** of us using euros!!), it's equivalent is about 77 euros currently. Not exactly a nice round figure that we can equate to.
It's a global currency, as more and more people adopt, the relating back to older fiats becomes meaningless. It's what you can get with a bit coin which is the important thing not what it's worth in USD or euros or magic beans.
No, the price is driven by supply and demand (and greed). If people pretty much **KNEW** they could offload them in 12 months for $150 you'd have a stack of people queuing out the door to buy them today at 100 USD and that would drive the price up.
Don't take my thoughts look at the data and formulate your own thinking. http://bitcoincharts.com/charts/mtgoxUSD#rg1460ztgCzm1g10zm2g25zv
For the best part of 2 years it hovered around the 5-10 USD range then in Apr this year went ballistic, and almost as quickly dropped 75%. For it to thrive more adoption with a steady growth rate would help.I'd rather see it go up 20% a year than those 50% swings. Right now it does have currently what they call "resistance" there at the 100 mark, but with a bit of momentum I could see it easily breaking the 120 range in the short term. Anything after that, is even more guessing....:-)
but yeah, no reason $1,000 couldn't be on the cards, some day !
My first post - bit of an odd rule, but it lead me to this thread which has been an interesting thread - thought for awhile there we were going to get a flame war going, but that subsided nicely all amicably a few pages back.
I'm no economist, but I think people here need to understand the concept of the "value" of money to answer the question of if it's going to hit $1,000.
Money, as the text books will tell you is something that "can be exchanged for goods and services". Most of us here in Europe probably remember ~10 years ago the conversion to the euro (barring the nutters in the north of europe Sweden and the like - just kidding guys!) The adoption of Bitcoins should be thought of the same way. For a few years, around the time of the migration to the euro, I know I was doing the conversion back to what things cost in the "real money", which for me was the Irish punt. After a time I stopped doing the conversion as i got used to the fact of how much a pint of milk was in euros and the Euro became "real money" to me. I understood the "value" of what a euro was worth. How many M&M's I can buy in the shop, widgets, or whatever ... and I completely stopped thinking about things in Irish punts - it was effectively dead to me. The goal is to drive towards how we could do this for BTC's (assuming when you add up all the pros/cons it's better than Fiat)
The question that's being asked now with Bitcoin is how much is the dam thing worth. it's a tough question. We're in uncharted territory. Even the economists haven't a clue. (they probably have a better clue than I do, but certainly no historical data to draw conclusions from) It's interesting to see people say "no way can it reach $1,000", or "Definitely!" and have such convictions in their opinions.
Like any stock, it's value can go either way. If the masses think they are "junk bonds" it'll go to zero very quickly, as people startle the "herd" and a mass panic sets in as people "dump", but I think that unlikely.
A $1,000 bucks price seems like a huge jump but really it's still only the same 10x times that the jump was from $10->$100. If you asked the same question with BTC was $10 what would people say about $100? "Your mad!", "Never happen!", yet here we are at $100. Yeah, i know...."the law of large numbers" kicks in eventually, but I don't think, even with all the publicity that it's got so far that it's even remotely gone mainstream. I work in IT, and I'd say 80-90% of my work mates haven't a bog of what BTC is and this demographic would be on the "enlightened" side of BTC.
Once the masses (proper) get into BTC's, your plumbers and nurses and cinema owners etc and it gains acceptance $1,000 is possible. Though strangely large fluctuations (even upwardly) would actually weaken the adoption as people during that "transition phase" would have a harder time to mentally attach back to what it's worth in fiat.
Interesting thoughts anyway - my thanks to you all!!
Ps:- Also, there was a veiled reference to tulips there a few pages back. For those who didn't know, this might shed light https://en.wikipedia.org/wiki/Tulip_mania
(although I don't think it's applicable here)/ I just wanted to share the knowledge what I think the other poster was saying with the tulip reference.
I'm no economist, but I think people here need to understand the concept of the "value" of money to answer the question of if it's going to hit $1,000.
Money, as the text books will tell you is something that "can be exchanged for goods and services". Most of us here in Europe probably remember ~10 years ago the conversion to the euro (barring the nutters in the north of europe Sweden and the like - just kidding guys!) The adoption of Bitcoins should be thought of the same way. For a few years, around the time of the migration to the euro, I know I was doing the conversion back to what things cost in the "real money", which for me was the Irish punt. After a time I stopped doing the conversion as i got used to the fact of how much a pint of milk was in euros and the Euro became "real money" to me. I understood the "value" of what a euro was worth. How many M&M's I can buy in the shop, widgets, or whatever ... and I completely stopped thinking about things in Irish punts - it was effectively dead to me. The goal is to drive towards how we could do this for BTC's (assuming when you add up all the pros/cons it's better than Fiat)
The question that's being asked now with Bitcoin is how much is the dam thing worth. it's a tough question. We're in uncharted territory. Even the economists haven't a clue. (they probably have a better clue than I do, but certainly no historical data to draw conclusions from) It's interesting to see people say "no way can it reach $1,000", or "Definitely!" and have such convictions in their opinions.
Like any stock, it's value can go either way. If the masses think they are "junk bonds" it'll go to zero very quickly, as people startle the "herd" and a mass panic sets in as people "dump", but I think that unlikely.
A $1,000 bucks price seems like a huge jump but really it's still only the same 10x times that the jump was from $10->$100. If you asked the same question with BTC was $10 what would people say about $100? "Your mad!", "Never happen!", yet here we are at $100. Yeah, i know...."the law of large numbers" kicks in eventually, but I don't think, even with all the publicity that it's got so far that it's even remotely gone mainstream. I work in IT, and I'd say 80-90% of my work mates haven't a bog of what BTC is and this demographic would be on the "enlightened" side of BTC.
Once the masses (proper) get into BTC's, your plumbers and nurses and cinema owners etc and it gains acceptance $1,000 is possible. Though strangely large fluctuations (even upwardly) would actually weaken the adoption as people during that "transition phase" would have a harder time to mentally attach back to what it's worth in fiat.
Interesting thoughts anyway - my thanks to you all!!
Ps:- Also, there was a veiled reference to tulips there a few pages back. For those who didn't know, this might shed light https://en.wikipedia.org/wiki/Tulip_mania
(although I don't think it's applicable here)/ I just wanted to share the knowledge what I think the other poster was saying with the tulip reference.