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Thread: Bitcoin - digital currency reaches dollar parity

  1. #21
    stoneFree
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    A new video has just been released:

    Screw Banks!

  2. #22
    JohnnyCash
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    New Hampshire Deputy Secretary of State recognizes bitcoin as legal

    https://bitcointalk.org/index.php?topic=104544.0

  3. #23
    Quote Originally Posted by JohnnyCash View Post
    New Hampshire Deputy Secretary of State recognizes bitcoin as legal

    https://bitcointalk.org/index.php?topic=104544.0
    I'm certain that was done with an eye towards enhancement of the "royal revenues" .....

  4. #24
    JohnnyCash
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    from BITCOIN MAGAZINE, bitcoin for beginners....

    http://jesse2012.com/bitcoin4b.jpg

  5. #25
    Junior Member fishnet's Avatar
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    Any other suitors besides stoneFree mining bitcoins? I have been for over a year now. I pre-ordered a few ASIC rigs from Butterfly Labs, waiting on delivery. There will be an interesting shift in the dynamics of bitcoin mining when the ASIC mining machines come online. Definately a disruptive technology.
    Fishnet

  6. #26
    Senior Member Treefarmer's Avatar
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    Quote Originally Posted by fishnet View Post
    Any other suitors besides stoneFree mining bitcoins? I have been for over a year now. I pre-ordered a few ASIC rigs from Butterfly Labs, waiting on delivery. There will be an interesting shift in the dynamics of bitcoin mining when the ASIC mining machines come online. Definately a disruptive technology.
    I've never used bitcoin but been reading the links which stoneFree and others have been providing.
    I can't figure out what a bit coin is.

    I gather that it exists in cyberspace, so it must be made from electrons somehow, and it is mined.
    But how is "it" mined?
    Who mines it, where and how?
    What kind of equipment does the miner use and where are the mines?
    Once it's mined, how is it placed in circulation?
    Treefarmer

    There is power in the blood of Jesus

  7. #27
    Quote Originally Posted by Treefarmer View Post
    I've never used bitcoin but been reading the links which stoneFree and others have been providing.
    I can't figure out what a bit coin is.

    I gather that it exists in cyberspace, so it must be made from electrons somehow, and it is mined.
    But how is "it" mined?
    Who mines it, where and how?
    What kind of equipment does the miner use and where are the mines?
    Once it's mined, how is it placed in circulation?
    It is mined using processor cycles.
    The equipment is a computer or cluster of computers.
    Once mined, they may go into a virtual wallet.

  8. #28
    stoneFree
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    fishnet! a whole year? I never knew. I have a (FPGA -field programmable gate array) BFL Single right here mining away at 826MH/s (lousy cellphone pic). I removed the casing for better cooling:

    Name:  BFL_singl.jpg
Views: 389
Size:  79.3 KB

    It performs as advertised. I too have BFL ASIC on pre-order, hope they can deliver as projected. Yes, ASIC (application-specific integrated circuit) will be huge, very disruptive. BFL (ButterflyLabs) is a very interesting company. I see at least one of the owners/principals came up against the IRS CID and was detained for something like 2 years overseas before trial. You see this is another unintended consequence. It appears the banking cartel has created ... how shall we say ... another very motivated individual who's probably figured out the fiat money fraud and is working very hard (as I am) for .... Well let's just leave it at that. Message to the cartel: YA DUN GOT TOO GREEDY!
    Last edited by stoneFree; 10-11-12 at 04:43 AM.

  9. #29
    Junior Member fishnet's Avatar
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    Quote Originally Posted by stoneFree View Post
    Message to the cartel: YA DUN GOT TOO GREEDY!
    I could not resist the opportunity to manufacture a medium of exchange like the cartel does.

    I have been mining since June of 2011, running a bank (pun intended) of multi-card mining machines with Radeon HD 5770's graphics cards, using the Eligius pool and MtGox. Once the ASICs arrive I will shut down the 5770's. Ordered three BitForce Single 'SC' 60 GH/s in early August..... a waiting game for delivery.
    Fishnet

  10. #30
    Senior Member Treefarmer's Avatar
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    Quote Originally Posted by shikamaru View Post
    It is mined using processor cycles.
    The equipment is a computer or cluster of computers.
    Once mined, they may go into a virtual wallet.
    Too cryptic, I need elaboration please.
    Do processor cycles have anything to do with computer CPI?
    Is the value of a bitcoin derived from the work that a computer performs?
    If so, what kind of work is performed and who benefits?

    What IS a bitcoin? Is it a data packet or potential energy?
    Treefarmer

    There is power in the blood of Jesus

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