It sound like OP is asking if there is MtGox has enough Bitcoins to supply someone who asks (or demands) 24000 BTC.

At any rate, I see Bitcion as currently experiencing deflation, because even though the absolute supply is increasing exponentially, the price of Bitcoins is decreasing.   Namely, the $:BTC ratio is increasing; I recall that a week ago the ratio was $7 to 1BTC, and now the ratio is something like $8.50 to 1BTC.   Over the last week the price in Dollars has increased, and yet the supply has increased.

I think the Demand of Bitcoins will determine where Bitcoin goes for the next year, I think.

Hmmm, it sounds like Krugman was able to keep his opinion short and concise this time.   So is "" logically consistent?

Joking aside, I would very much like to hear about Krugman's opinion on Bitcoin.   The title of this thread is comparable to the time I heard the Bitcoin.org founder was going to meet with the CIA (or whoever) to talk specifically about Bitcoin; I have no other info on the meeting with CIA nor its accuracy.

I think that the BTC:$ ratio will continue to increase (9:1->10:1).   BTC has increased in value among Bitcoin advocates and users, and the dollar is simultaneously loosing subjective value, albeit at a slow rate.

Further, as people trade Dollars for Bitcoins, the supply of Dollars will increase (duh!), and the 'price' or value of dollars will decrease.   That is price inflation, which is consumer-driven inflation; monetary inflation occurs when the issuer of the currency dumps more of the currency on the open market.   Difference lies in who is dumping, though monetary inflation is much more arbitrary than price inflation, because the market drives price inflation/deflation whereas a single entity drives monetary inflation/deflation.

As people generate Bitcoins, the supply of Bitcoins will increase (duh!), thus the 'price' or value of Bitcoins will decrease.   However, monetary inflation and price inflation are essentially conflated when it comes to Bitcoins, as anyone can generate (or issue) and trade Bitcoins.

However, I predict that the subjective value of Bitcoins will increase, even though the supply is increasing, because I believe that more and more people will embrace Bitcoin for more and more trading purposes, namely those that are doing the heavy mining.   Those miners gotta spend their Bitcoins sometime.   Thus, the 'price' of Bitcoins should become more and more stable as more and more people trade for Bitcoins and generate Bitcoins.

If people stop generating Bitcoins, then BTC may experience deflation; it depends on how much value people put in Bitcoins after generation peaks.   If people stop trading Bitcoins, then BTC will become absolutely worthless because they will dump BTC for $ (or whatever).   If Bitcoins are dumped, then the ratio of BTC:$ might just flip, depending on the relative subjective value of Dollars and the relative subjective value of Bitcoins.   However, a generation peak does not necessarily mean that people will dump Bitcoins.  OTOH, deflation will eventually kick in, and prices will necessarily fall, assuming that more and more people continue to embrace BTC.

I am very excited to see what will happen to Bitcoin.

I heard somewhere (Agorist Radio podcast, I think) that the total Bitcoin network power has surpassed the total power of the top 50(?) super computers in the world.   That was an amazing figure to hear.

It would be nice if someone could add a page to the Bitcoin wiki that lists the top 50 (or whatever) Bitcoin mining rigs.   And a list of the top mining pools.

I imagine that those employees that are using company assets to mine won't have any serious problem, unless a boss or administrator A) finds Bitcoin running on company computers and B) knows the market value of bitcoins and C) knows how much BTC the employees have mined.   A+B+C could result in a lawsuit to get the Bitcoins or getting fired; A results in a slap on wrist.   I would recommend getting to know the administrator/boss in question and then get him/her to use the idle cycles of company computers.   OTOH, if the state owns the computers and you can access then anonymously...

What wattage is your power supply rated at?   I recall that the more modern cards need in excess of 500 watts to function properly.

You might test each card separately to see if you got a bad card. For example, you might play a 3d game with only card 1 installed, then play with only card 2 installed, then play with both cards installed (and bridged?).


Good luck

I am trying to get a mining rig going, but I first want to do a few things in the gui (e.g. making two accounts, etc).   I am trying to use my desktop for mining, as it has an Nvidia 9500 GT.

I am able to get the Bitcoin client gui working in Knoppix after some chmod work, but that is on my laptop.  My desktop is running Ubuntu 11.04, but the Bitcoin gui never comes up, and I get no output in the terminal.   I get plenty of network traffic and the debug.log file mentions downloading and connecting, therefore I can assume that bitcoin is downloading blocks.   Bitcoin is functioning but not showing much for its efforts.

Bitcoin 0.3.21 gui works in Knoppix (laptop, 32-bit).
Bitcoin 0.3.21 and 0.3.19 gui fails in Ubuntu 11.04 (desktop, amd 64-bit, near-new install).

I am thinking that Unity is the problem, but I have no proof.

What do ya'll think I can do to get the Bitcoin client gui working on my desktop?


Thanks in advance.