If mining stopped completely there would be no bitcoin. Bitcoin is the mining. But even one person on a cpu could continue to mine. And my guess is that even if bitcoin fails completely, there will be a few people that keep mining for the next few decades.
Right, only one miner is actually needed. With less people mining, the difficulty drops accordingly. The only way for bitcoin to die with >=1 miners still active would be if every single other person mining stopped at once, and that remaining person couldn't ever finish enough blocks to trigger the difficulty to drop. The idea of which is of course rather absurd.
Come to think of it.. it's really just amazing how the price of Bitcoin got inflated and is at 15$.. It's just pure speculation, no one spensd the Bitcoins at all (ok, maybe a very few people).
It's really just waiting for the first trader to realize Bitcoins aren't worth anything at all actually, since no businesses accept them (and businesses don't accept them because there are no customers anyway). When that happens the price will probably nosedive.. It's quite important to get some substantial 'bitcoin consumer'-base before that happens.
Not worth anything? How do you figure that? Just because they are not useful for what they were intended to be (a currency) does not make them worthless. They have value for similiar reasons to fiat currencies. They have value because people agree that they do. If people did not agree that they had a value, then they wouldn't have any. Of course fiat currencies are a little different, since they have a government behind them, telling people they have no choice but to accept them as valuable, how much value they have is still up to the market.
Well I bought in at 16.10 and just sold at 13.00 after mtgox kept going down, now the price is very unstable got to 12.50 now it's at 13.00
You only lose money trading if you sell lower than you buy. The only exception to this is if a company goes bankrupt or the price never recovers. This goes for any market.
If the price drops below what you bought it for, just WAIT.
That sounds great and all, but it doesn't really make sense. The price may never come back up, in which case he would lose far more by not selling now. Taking a small loss is better than losing everything.
Of course in this case prices will more than likely be back up in a few days, but that's another topic.
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BoardBitcoin Discussion
Re: Don't Let Your Bitcoins Die With You! How to give them away after you die
Windows 7. Have tried chrome, firefox 3.6.13, and pale moon 5, none work.
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BoardBeginners & Help
Re: GoldMiner - A hobby project
by
gjy4ygfds
on 05/07/2011, 06:53:57 UTC
The play now link doesn't seem to work?
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BoardBeginners & Help
Re: Bitcoin Rap hahaha ...
by
gjy4ygfds
on 05/07/2011, 06:41:37 UTC
Hah, that's pretty funny.
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BoardBeginners & Help
Re: Is it worth it on my hard ware?
by
gjy4ygfds
on 05/07/2011, 06:36:02 UTC
Quote
You need at minimum an ATI 6970 card overclocked to about 400 megahash. That's what I got.
Hardly. Any 5000 series ati card will easily make a profit. The 5770 is a decent buy, costing roughly $100 or so, and can get around 230 mhash/sec.
OP, even if you're running the computers constantly anyway, the strain on the cpu isn't even worth 180 khashes. Don't forget that a fully loaded cpu also uses more electricity than an idle one. I highly doubt you'll actually see any profit.