geekhack
geekhack Community => Other Geeky Stuff => Topic started by: enoy21 on Tue, 20 September 2011, 11:13:15
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I don't fully understand the bitcoins.... other than perhaps some novel form of currency ( farmville points ? ).
I don't fully understand how they are generated , managed etc... I've read the wikki but it wasn't very layman friendly once you get into the how's and whats....
But do companies or people offer Keyboards/caps for bitcoin ?
Just curious
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Yeah I run an HD5850 and when I went looking for a second one to run in Crossfire I kept seeing all of these references to Bitcoin being the reason they were hard to find as people were scooping up all of the remaining stock.
The way I understand it is that you can generate them with a folding at home type of setup , but the folding serves no real purpose other than to generate this limited currency.... Right now a high end CPU takes about two years to finish the calculation , but video cards are much faster than the CPU's.
Those who got in at the beginning will have have the most bitcoin and the most value as it continues to be limited with no real method in place ( currently ) to generate more than a set number.
Kind of amazing for me to see the people generating their own electronic currency.
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I'd rather Fold @ Home than mine Bitcoins, I hae 775k points for OCN. Nice epeen boost.
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All I know is it's sucking up the high end graphics cards.
Probably will crash like Dutch Tulips.
Not exactly, mining is used for similar research purposes like folding but also a lot for cracking/encrypting and whatever illegal stuff. Why would you think you can create money that easily for nothing? But some of those pools are competitions who runs the block fastest, and most work like network type and you generate BTC slowly depending on your gpu's. And there's a lot people who has tens of thousands liquid cooled machines mining, cause BTC is no joke. Tor network is full of underground sites where you can get pretty much anything.. you name it, for bitcoins.
First post btw, glad to join the forums.
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I'm gonna build mining machine running linux crossfire Radeon 5830's (best value) and counted all components would around cost around 500€ and I would make about 70€~ month (24/7 run ofc) and that's pretty sick long as it stays alive.