Earlier quoted context omitted.
The recent run-up is nothing. The price will be $300/BTC by next week and $3000/BTC by next year.
I need to start recording bold predictions like this in some sort of journal. EDIT: I meant in general, not just for bitcoin.
How the Internet Archive is having a great time with Bitcoin
51–55 of 55 posts
Re: How the Internet Archive is having a great time with Bitcoin
#52Earlier quoted context omitted.
I don't see why decent ASICs will ever be for sale. It'll be more profitable to run them than to sell them so the manufacturers will keep them.
Besides the crowdfunding argument, it may be possible to sell an ASIC miner for more BTC than it will ever generate during its lifetime.
In theory, miners will have a better estimate of BTC future values than the manufacture.
In practice, miners might even be a little generous in their estimates (because they are self-selecting).
And more importantly, the risk is reduced. If BTC tanks, the manufacturer will have already cashed out. If BTC goes up, the manufacture will have lost some potential profits, but will still have made a decent amount.
Re: How the Internet Archive is having a great time with Bitcoin
#53Okay, fine. How do I buy some bitcoin? Is bitinstant still cool? edit1: Okay, MT Gox seems to be having some server problems, but things are going...slowly. edit2: Mt Gox really wants my driver's license? This seems...not to be something that is a good idea. Should I really give them my driver's license?
Uh, who cares?
Re: How the Internet Archive is having a great time with Bitcoin
#54Earlier quoted context omitted.
You can still mine with AMD GPUs but the difficulty has been rising fast due to the release of ASICs. For example, right now a Radeon HD 7970 will earn you about 1.4 BTC per month. ASICs are not for sale anywhere. You can preorder from butterfly labs but there is no indication when they will ship.
Why not an FPGA?
Actually, if you were serious about mining, FPGAs might still be a good choice. They are approximately as efficient as current ASICS, just much slower. Plus they will have resale value.
Re: How the Internet Archive is having a great time with Bitcoin
#55Earlier quoted context omitted.
The recent run-up is nothing. The price will be $300/BTC by next week and $3000/BTC by next year.
I need to start recording bold predictions like this in some sort of journal. EDIT: I meant in general, not just for bitcoin.
The week just started and the price is already double what it was this time last week. It only has to go up 50% more before the end of the week.
Looks like my first prediction wasn't such a long shot, eh?