Bitcoin mining ? smthn worth investing in?

[CYBER]

http://www.youtube.com/watch?v=Um63OQz3bjo&feature=player_embedded#at=75 (http://www.youtube.com/watch?v=Um63OQz3bjo&feature=player_embedded#at=75)

(more info : (http://www.youtube.com/watch?v=Um63OQz3bjo&feature=player_embedded#at=75)http://www.bitcoin.org/
(http://www.bitcoin.org/)and https://en.bitcoin.it/wiki/Main_Page)

so im not sure if any of you guys posted this before, but the new digital currency : bitcoins, is being mined by users worldwide by cracking complex algorithms using their CPU and GPU and getting rewarded for that by getting "chunks" of bitcoins.

1 bitcoin right now = ~ 20 dollars.

im trying to work this shit out by installing bitcoin miners on my gaming computer which naturally has the best graphic card i have...
any of u tried that? its basically to install a bitcoin client, and a bit coin miner on your computer and the combo will mine for bitcoins .
another way is to go to www.bitcoinplus.com (http://www.bitcoinplus.com), log in , and simply click on START GENERATING, and leave the page open for it to use ur <<<<CPU>>>> to mine for it...but its relatively a LOT slower than using the GPU one.
i think zero you should look into this bcos i always noticed you keep on upgrading ur shit, maybe ibis can have a little more side cash for maintaining the servers since u already spent the money on the graphic cards nway (btw, graphic cards world wide are being sold out like never fucking before... )

oh well.. .feedback guys?
nways c ya guys later, just felt like sharing this with u guys, since im not around nways recently.
cyber

[StarsMine]

I myself use my extra resources doing F@H, sound like a much more useful thing then that, and If I so choose to, I can get money off of it to (EVGA has some promotions)
Its not fast money but thats not the point. Id rather have my computer working on these types of projects http://folding.stanford.edu/English/Papers

[Superman]

As of May 2011, no major retailer accepts the currency for payment.

[brentidge]

just me being the normal dumb ass wtf? i can make fake monies just running a program? and use this fake money on shitty real stuff? and starmine whats the diff in dumber words and whats this as of may 2011 thing all about because i want to do this:wtg:

[StarsMine]

Difference?
F@h does science (goal is not money, though you can get some from some teams, like with EVGA up to 10EVGAbucks a month, usable on their store)

Superman was saying that as of now, no store actually accepts these as money. You have to find someone who is willing to exchange them first.

[brentidge]

seems like there are alot of websites that say the exchange it to your credit card and there is a few sites i found that sells stuff just for bit coins is bit coins trustable?

[SCRIBBLE]

I myself use my extra resources doing F@H, sound like a much more useful thing then that, and If I so choose to, I can get money off of it to (EVGA has some promotions)
Its not fast money but thats not the point. Id rather have my computer working on these types of projects http://folding.stanford.edu/English/Papers

Getting set up for this as "surfacedsquid"

I'd rather be useful and simulate protein than be selfish and waste time on a useless internet currency.

[StarsMine]

http://folding.extremeoverclocking.com/user_summary.php?s=&u=555243 :D
hurray for stats
I have done it before on my CPU and ps3 (not the smp client) but I never had a name, all that stuff went to anon and ps3. Now its all set up (my e5300 + gtx 460, i7 920 @ 2.8ghz... dads computer and wont let me OC it :(, and my ps3)

[alex_mamaroneck]

hey Cyber,
i didn't even have to look at this video. My best recommendation is invest in physical gold and silver. this country is going to go through a great depression within 5 years and the entire world will feel it because the US dollar is THE global currency. i have SLV and SIVR (silver stocks) shares but i will soon trade to physical silver because within a year or two the world will reach a COMEX default and the people will realize SLV and SIVR is backed by nothing. bitcoin i'm sure is no different. so what ever precious metal stocks you invested in will drop dramitically after a comex default. the dollar will crash and physical gold and silver will be the only money you will have. seeds will also be tradable (but that is another story)

two months ago if you have a silver dime it is worth one gallon of gasoline!!!
however, the silver price went down right after the government made us believe Osama Bin Laden was killed in May. everyone thought we were going to bring our troops home. but now it is worse. we are sending more troops in the middle east. meaning printing more money which is killing the value of our Dollar and the silver price will climb again, and it will pass $50 an ounce. the true value of silver is suppose to be $120 per ounce. gold vs silver is suppose to be 1:16 (16 ounces of silver will buy your 1 ounce of gold.
today the gold vs silver is 1:43 !!! silver is under value big time so its a super bargain to buy it now
here is a crash course:

www.kitco.com

http://www.coinflation.com/silver_coin_values.html

http://www.youtube.com/watch?v=2N8gJSMoOJc

http://www.youtube.com/watch?v=ga6uCtl4gmM

you can never go wrong with physical gold and silver because its God's Money:

if you decide to buy gold or silver these are the best sites.
www.apmex.com
http://www.qualitysilverbullion.com/index.php?route=common/home

GOOD LUCK

[acolyte_to_jippity]

guys, a bank in japan converts bitcoins to dollars...

[ZERO]

One would think that the bank of japan would be converting it into Yen....

I currently run Bonic and thus a number of various computing projects. Unfortunately my parents air conditioner can not keep up with the heat generated. As a result I have it turned off right now until I can buy more air conditioning. Currently running bonic all the time comes out to over $500 a month in energy costs due to the heat. (we have really poor home cooling and live in the south)

[CYBER]

starsmine ? is that you ?
http://folding.extremeoverclocking.com/user_summary.php?s=&u=555243

[StarsMine]

Yes, didnt I already post the link here?

Like I said, I have folded before, just not with a name/team

[brentidge]

what progam should i use to mine and how do i get started has any one heard of silk road?

[acolyte_to_jippity]

what progam should i use to mine and how do i get started has any one heard of silk road?

of course you'd bring up the goddamn drugs

[brentidge]

lol you no it i have no intentions on buying any from them just the idea that selling products for the bitcoins is way cool i just cant figure out this mining thing i got on program guiminner and i cant figure that out any other programs that you people use?

[acolyte_to_jippity]

maybe the official client?

from the official site?

herp?

[Superman]

Just use bitcoin from the website. Doesn't matter program you use, the odds of getting a block together by yourself is like 1 and 310289310293801293 give or take a few 120391203918230. Even if you run your program every day for 365 days you could get 0 blocks, but lets say your lucky and you generate one block, that gives you 50 bitcoins, and if the first post was true about currency exchange then you just made $1000. :) I do not have my hopes up but I do run it in the background. :) I have an i7 940 (8 processors) and 2 Radeon HD 4850's crossfired. I should be learning pretty quickly but even running it for 8 hours a day it could take me a few years to get one block...lol

---------- Post added at 09:48 AM ---------- Previous post was at 09:44 AM ----------

Also, do not buy bitcoins unless you want to buy something right away with a bitcoin, its pointless. Also, if your lucky and you get a block together, there is a website that will trade bitcoins for gold and silver. Take Alex's advice and invest in real physical precious metals. Cause when our economy shuts down because of greed and abuse of funds, precious metals will be the only thing trusted to buy goods.

[brentidge]

lets all get together and start are own pool i think over little bit of time we can get a all right size pool maybe make up money!
every time i go to start mining i get an error code saying "problems communicating with bitcoin rpc" anyone can help?

[BladeTwinSwords]

One would think that the bank of japan would be converting it into Yen....

I currently run Bonic and thus a number of various computing projects. Unfortunately my parents air conditioner can not keep up with the heat generated. As a result I have it turned off right now until I can buy more air conditioning. Currently running bonic all the time comes out to over $500 a month in energy costs due to the heat. (we have really poor home cooling and live in the south)

I do as well. The Prime Number and SETI programs are my personal favorites as the screensavers are neat.

[ZERO]

For those of you that have not noticed: http://www.ibisgaming.com/content.php/141-Bitcoin-or-Bitcon

I have made an article on Bitcoin and some info about its security from the news. I did not have internet at home yesterday so I typed this up using the cellphone internet.

BTW I am very backed up on stuff b/c we were having electrical work all yesterday and tomorrow again along with trying to do a bunch of stuff for my dad's work.