Makes me sad becouse some of us still didnt upgraded. Still, there will be many cheaper AMD cards around when this craze is over.

I value Bitcoin more than my countries currency.

Im looking at Serbia shops, every rx570/580 are sold. You can only buy rx560 atm.

Makes me sad becouse some of us still didnt upgraded. Still, there will be many cheaper AMD cards around when this craze is over.

I sold my R9 270X and when I went to the shops to get a RX570 they were gone everywhere. Almost 3 weeks without GPU and probably will have to wait till end of the month. I'm really dying for the bubble to pop, I'll be laughing hard at these mofos with huge amounts of GPU's.

How long it take to make/mine a bitcoin?....I need me some of them things...:D

Because of large US debt crisis is coming (they will start war to have something to blame) So when money or gold in bank is not safe and gold, silver in house impractical and even impossible in large scale, where to put money for crisis time? In criptocurency - safe, fast, convenient...

How long it take to make/mine a bitcoin?....I need me some of them things...:D

With your PC .. years? Likely even more with the current difficulty. That's 24/7/365, and that's excluding $/kWh and your investment costs.

Because of large US debt crisis is coming (they will start war to have something to blame) So when money or gold in bank is not safe and gold, silver in house impractical and even impossible in large scale, where to put money for crisis time? In criptocurency - safe, fast, convenient...

Cryptocurrency (at least ones like Bitcoin) isn't that safe. Bitcoin has lost value more than once, and it's value is completely arbitrary, and finite. This is not ideal for a wide-spread currency. Materials like gold and platinum are generally what define's a country's treasury, and in turn, monetary value. The cost of these materials is directly influenced by supply and demand. That being said, the currency of [most] countries isn't arbitrary, at least not completely. As long as there is something tangible that the currency is connected to, it is possible for a country to indefinitely add more currency without decreasing the value of it. EDIT: I understand that Bitcoin being finite is one reason for it to have value; if it was infinite, then it would retain no value, ever. On the other hand, the quantity limit of it is also the limit of who can get their hands on it. It isn't all that reliable, useful, or valuable if only a select few can utilize it, because that also limits where you can spend it. It's really no different than using Euros in the US - Euros may have more value than USD, but you're effectively poor if the stores you're going to won't accept it. On a more pedantic note, how are people supposed to depend on cryptocurrency in a moment of crisis? When I think "crisis" what comes to mind is a lack of reliable internet. If things like bitcoin are really only limited to "privileged" people, I don't know how you could buy things like food, fuel, or clothes with it in a moment of crisis.

As long as there is something tangible that the currency is connected to, it is possible for a country to indefinitely add more currency without decreasing the value of it.

Not since the gold standard was dropped. That said, the tangible evaluation of the USD these days is likely meassured in military force 🤓 I also think you meant to say printing indefnitely is impossible, insofar the currency is tied to something tangible. Anyhow, politics. They are what they are and to me personally Cryptocurrency isn't the holy grail. I'm the tinfoil head wearer after all; a currency untracable and truly free of control wouldn't be allowed to come into existence 😉

it is possible for a country to indefinitely add more currency without decreasing the value of it.

In America is private FED bank who create money and whole america lends from them, and debt is enormous. So when private fed owners decide to stop lending money and want repayment there will be big crisis (like they start it once in a while) banks panic and fall of US currency. For repayment each money, gold, property will be seized...

So, I am guessing, no one is selling ASICs anymore...It would take a year to mine 1 btc with 570 too, not to mention that difficulty might (probably will) increase. What I am wondering is, who was buying this much btc at these prices? :S I mean, price increases because demand outweighs the supply...

So, I am guessing, no one is selling ASICs anymore...It would take a year to mine 1 btc with 570 too, not to mention that difficulty might (probably will) increase. What I am wondering is, who was buying this much btc at these prices? :S I mean, price increases because demand outweighs the supply...

I'm not really into bitcoin mining but it's my understanding that a lot of the new cryptocurrencies that are popping up are adverse to ASIC mining. This is directly from Ethereum's whitepaper:

The current intent at Ethereum is to use a mining algorithm where miners are required to fetch random data from the state, compute some randomly selected transactions from the last N blocks in the blockchain, and return the hash of the result. This has two important benefits. First, Ethereum contracts can include any kind of computation, so an Ethereum ASIC would essentially be an ASIC for general computation - ie. a better CPU. Second, mining requires access to the entire blockchain, forcing miners to store the entire blockchain and at least be capable of verifying every transaction. [...] one notably interesting feature of this algorithm is that it allows anyone to "poison the well", by introducing a large number of contracts into the blockchain specifically designed to stymie certain ASICs.

Bitcoin is the old coin and cryptocurrency, to actually make a profit you need an application specific hardware. If you want to try and make a profit, there is another coin called Ethereum that has some potential for getting in on the mid level of the bubble. Check out some articles and information on that if you are looking to make a quick buck*. *Disclaimer, I have little to no idea what I'm talking about except for the knowledge that Ethereum exists.

Not since the gold standard was dropped. That said, the tangible evaluation of the USD these days is likely meassured in military force 🤓

Precious metals are still used to my knowledge, but they definitely don't wholly represent the value of USD, and likely other major currencies too. I wouldn't be surprised if military force actually equated for some of the value.

In America is private FED bank who create money and whole america lends from them, and debt is enormous. So when private fed owners decide to stop lending money and want repayment there will be big crisis (like they start it once in a while) banks panic and fall of US currency. For repayment each money, gold, property will be seized...

If this debt is what you're referring to in terms of the US's debt crisis, I think you're mistaken. Last time I checked, the US as a whole is still earning more money than they're spending, despite the debts climbing. The US's economy in general is pretty stable, despite the obscene debt. When it comes to governments, debts are a lot more complicated than they are for individuals or companies. It is easily possible for two countries to be in debt with each other. Example: http://www.dailymail.co.uk/home/moslive/article-2118152/Tangled-web-debt-Who-owes-trillions.html Meanwhile, the vast majority of the US's debt is to itself (in particular, banks, investors, and other loaners).

Cryptocurrency (at least ones like Bitcoin) isn't that safe. Bitcoin has lost value more than once, and it's value is completely arbitrary, and finite. This is not ideal for a wide-spread currency. Materials like gold and platinum are generally what define's a country's treasury, and in turn, monetary value. The cost of these materials is directly influenced by supply and demand. That being said, the currency of [most] countries isn't arbitrary, at least not completely. As long as there is something tangible that the currency is connected to, it is possible for a country to indefinitely add more currency without decreasing the value of it. EDIT: I understand that Bitcoin being finite is one reason for it to have value; if it was infinite, then it would retain no value, ever. On the other hand, the quantity limit of it is also the limit of who can get their hands on it. It isn't all that reliable, useful, or valuable if only a select few can utilize it, because that also limits where you can spend it. It's really no different than using Euros in the US - Euros may have more value than USD, but you're effectively poor if the stores you're going to won't accept it. On a more pedantic note, how are people supposed to depend on cryptocurrency in a moment of crisis? When I think "crisis" what comes to mind is a lack of reliable internet. If things like bitcoin are really only limited to "privileged" people, I don't know how you could buy things like food, fuel, or clothes with it in a moment of crisis.

Ofc btc is more volatile than most other currencies or goods, no one will argue against that. But let us go back in time several years. Everything you said had been just as valid back then as it is now. Only difference being bitcoin's nominal value. Which has gone up several thousands %. Everyone was a naysayer or skeptic at one point in time(me included) , but then you look at the reality, and relize its kinda silly to argue against reality, which is right in front of you.

Ofc btc is more volatile than most other currencies or goods, no one will argue against that. But let us go back in time several years. Everything you said had been just as valid back then as it is now. Only difference being bitcoin's nominal value. Which has gone up several thousands %. Everyone was a naysayer or skeptic at one point in time(me included) , but then you look at the reality, and relize its kinda silly to argue against reality, which is right in front of you.

I understand what you're saying, but keep in mind value has a deeper meaning than how much a single bitcoin is worth. I'm not arguing against the literal value of bitcoins; value is determined by the beholder. This is why a blue canvas with a white line painted down the middle can be "worth" tens of millions of dollars. But again, value means more than that. A form of currency is only as good as your ability to spend it. Most sources don't take bitcoins, so despite it being having a literal value of $3000, in practice it loses a lot of value since so few places will accept it. Considering the price and rarity of bitcoins nowadays, I don't suspect we'll be finding many more stores to accept them. If that's the case, it wouldn't surprise me if other stores drop support for it. It doesn't matter how much monetary value a currency is claimed to have if most of places you need to spend money won't accept it.

btc exchange offices will accept it and give you ~3000$ for it. So it's pretty much irrelevant who accepts it or doesn't if you can simply exchange it for other currency (for a fee ofc). So the "free flow and free exchange" you can pretty much forget about it, but it doesn't really matter. As for Ethereum, afaik, it is exchanged into bit coin. ASICs might not do well on Ethereum mining, but they can still mine BTC directly better than GPUs would. We shall see. Still, someone must have bought a ton of BTC for prices to go up this much in a short time.

btc exchange offices will accept it and give you ~3000$ for it. So it's pretty much irrelevant who accepts it or doesn't if you can simply exchange it for other currency (for a fee ofc). So the "free flow and free exchange" you can pretty much forget about it, but it doesn't really matter.

And what do they get out of it? Where is that money coming from? At some point, they're going to have pretty much all of the circulating bitcoins, and then what? If bitcoins are finite and this one group has all of them, the value of them drops to nothing.

they get % of the exchange, like any other bank would do...From BTCe : fee for transactions is 0.2% you put your offer, name your price, when it's sold, you pay the fee...simple. There are some, or were some, exchange sites that would straight up buy directly from you for the lowest price that they list. As for value, I am afraid it's mostly the black market that uses btc. Got money you can't spend? Buy BTC and go from there. edit: people are trying to sell atm, so the price is going down. Last: 2683 USD -5.39%

ASIC miners killed Bitcoin mining as right now difficulty is high and mine on GPUs BTC is very hard and can take long, tried on mine to do so and with 3*GPU I'm getting 160-170MH/s with Lyra2REv2 scrypt, Equihash looks like good one as well and Ethereum is much better on AMD cards than on Nvidia cards Few years back when I run AMD difficulty hasn't been so high and I have mined 12 BTC in fairly short time, just I wish I keep these BTC Getting ASIC miner this will cost you and really not sure if its worth it, friend have 3* Antminer S7 and after 8 months he still didn't break even on single unit and he thinking to sell them and go route of the GPU mining Hope this helps Thanks, Jura