MtGox closes shop!

[BiN4RY]

Originally Posted by itemauctions

Such a tragic she's too young to be a CEO

You're never too young to have your own business and/or being a CEO. However she is indeed too young to have her life ended.

[itemauctions]

Only a few year out of college, just isn't enough to deal with the stress in the real world.

[unkown5454]

Originally Posted by itemauctions

Only a few year out of college, just isn't enough to deal with the stress in the real world.

Another reason why college is pointless. Life experiences are worth so much more. Especially in business.

Sad she felt the need to do this.

[joew8989]

Dorian Satoshi Nakamoto according to newsweek is the creator of Bitcoin is a 64 year old man who lives in Temple City CA. He's alive but wants to be left alone

[rsot]

Few more years and he will be chased over too...

[vogeltron]

Originally Posted by joew8989

Dorian Satoshi Nakamoto according to newsweek is the creator of Bitcoin is a 64 year old man who lives in Temple City CA. He's alive but wants to be left alone

He claims it wasn't him that invented it. But if you look at his credentials everything would definitely point to him.

[vogeltron]

CYRPTO Currency is a feddish. I don't own any. I also still don't understand completely the block chain and everything else. Max Coin is interesting though.

[yotano211]

My main question is what are people who invent these crypto currencies doing with all of these graphics card processing power. Its more efficient to mine these currencies using graphics cards than with processors.

These GPUs run at 100% until they find or mine the coins. Are the inventors using the processing power to hack into something or crack some code from the NSA/CIA or what? I just find something fishy with using so much processing power and nobody can really say what the source code of the program does or what kind of info is it processing.

[MM78]

Probably should be used to figure wtf is wrong with Ebay/Paypal!
I know several years ago there was a project similar to this that was used to solve some complex problems that were put out by University of San Diego or some other place with a super computer but at this point I can't remember....due to the mushrooms.

[yotano211]

I am afraid to say that, there isn't enough processing power in the world to solve that problem. Not even the T-100 (terminator) can compute those kinds of human emotions.

**crack is wack, and "there's no hope with dope", jk hahahahaha

There is programs that use the processor (cpu) or graphics card (gpu) to solve complex problems in the world, like protein folding or SETI@Home. It helps human kind with problems the world has. The computer user downloads a small program and then get small batches of programs that their computer uses to solve a complex equation and sends those results back.

These coin mining things dont solve anything or nobody really knows what is solves.

[MM78]

I could go for a T-100!

[yotano211]

Originally Posted by MM78

I could go for a T-100!

I 2nd this, but I am still waiting on my hover board. Marty Mcfly anyone

I always wanted to do this--I go on a date, I bust out my T-100, at the end of the date, I tell my T-100 to say it, he says "hasta la vista baby". I kiss her good bye.

ohhh how awesome would that be !!!

[Salvo]

The blockchain records every single transaction - of present and past - and the ownership of every single bitcoin in circulation. The people who are constantly verifying the blockchain, ensuring that all the information is correct and updating it each time a transaction is made, are called 'miners'. One way to think of miners is: they those who confirm transactions. Their job is to ensure that the transaction is secure and processed properly and safely. In return for their services, miners are paid fees by the vendors/merchants of each transaction and are also given physical, minted bitcoins.

Taken from Bitcoin explained in laymans terms - NDTVProfit.com The physical, minted part is digital of course. There were a couple companies that would make a physical bitcoin but who knows where you could actually use it.

Or you can read https://litecoin.info/Comparison_bet...ogress_version for the alternative coins (Scrypt-based) which is what most GPU miners are doing including myself.

Bitcoin is practically impossible to mine with graphics cards anymore. You need ASICs (Application Specific Integrated Circuits) which are specialized chips programmed to ONLY decrypt SHA256-based coins. Nowadays, ASICs are extremely overpriced and you need at least 1 TH for ~$1000 to see a profit; depending on your electricity per KW/h.

Scrypt-based coins (Litecoin, Dogecoin, etc.) were written in a different algorithm, and there has not been any ASIC-like devices released yet. Gridseed is close, because it uses 1/5 the electricity as a normal GPU; but I am not sold on them yet and you essentially purchase 100x the same unit and wire them up together. Scaleable, but not overtly powerful.

[rsot]

@Salvo, so the electricity is very pricey but doable if you get a non-billable source?

[Salvo]

Electricity bills can rack up quick depending on setup and cost per KW/h. Where I live is really cheap, a little under $0.06 per kilowatt so I did not worry about getting the most wattage efficient cards. I can mine enough BTC in 1 week to pay for my whole electric bill (previous usage + 2 miners 24/7) and still have some left over. The other 3 weeks just stacks up and I trade some on btc-e.com to make even bigger profits.

I'm not sure exactly what you mean by non-billable source, like free electricity? Some people do have that (they mine at work, or have rent w/electricity included) and it can make a big difference when you have setups like this http://ecoinomist.com/images/gpu-min...rm-800x533.jpg

BTW, theres 1000's of people with "farms" that size or larger. Some big setups pull over 200+ BTC a day, and have electric bills at 6 figures! It is a modern-day gold rush and the big winners are the people in it early, when it was pennies in 2009 to under $50 in mid 2013; and those with HUGE setups like pictured.

[rsot]

Apartment with electricity included would be insane to mine...