$55 bitcoins Time to buy? Or keep falling?

Pheasant said:
It's because you are not cut out for trading. Not to be a dick, but based on everything you've said, you're the person who makes it possible for other people to make money. Don't get me wrong, that's an essential piece of the puzzle..
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It's not trading what he is doing.
 


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Bitcoin? It'll crash again here some time soon. It's unnerving however that MT Gox is the only real large exchange platform for it at the moment. Whenever it does crash again, I'll be buying in and dumping once I hit a 100% + return.
 
Unarmed Gunman said:
BFL Jalapeno Unboxing and Demo - YouTube
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What the fucky fuck is that. Its that really a tiny magic box that is going to create money out of thin air...

Go figure we can create some retarded little super computer for crunching useless data to generate a nonphysical "currency", but no one ever thought it would be a good idea to do the same for Fodding@Home, Seti@Home or similar projects.

Also once they start selling these little boxes to everyone wont that destroy your currency? The whole point is that bitcoins are hard to mine, once they are easy isn't it just a matter of time until they are all mined out and no new ones are created. Wont the value of coins drop like a fucking stone once there are super miners everywhere making them less scarce for a time? or am I missing some detail?
 
BeerNuts said:
What the fucky fuck is that. Its that really a tiny magic box that is going to create money out of thin air...

Go figure we can create some retarded little super computer for crunching useless data to generate a nonphysical "currency", but no one ever thought it would be a good idea to do the same for Fodding@Home, Seti@Home or similar projects.

Also once they start selling these little boxes to everyone wont that destroy your currency? The whole point is that bitcoins are hard to mine, once they are easy isn't it just a matter of time until they are all mined out and no new ones are created. Wont the value of coins drop like a fucking stone once there are super miners everywhere making them less scarce for a time? or am I missing some detail?
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Yes you are missing some detail. Specifically you don't understand Bitcoin at all.
 
Should see 200 again around the end of April. if it hits 200 it could beat its last high of 260.
 
BeerNuts said:
Go figure we can create some retarded little super computer for crunching useless data to generate a nonphysical "currency", but no one ever thought it would be a good idea to do the same for Fodding@Home, Seti@Home or similar projects.
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Well, there's opportunity there - what would contribute to finding cures for diseases in a different way to F@H, and also requires supercomputers? Create software to do it, keep the results closed unlike F@H, and sell them to drug companies, with payouts like a mining pool for people giving up their GPU cycles. No one's gonna start dropping thousands into R&D/purchase for ASIC units if they're not gonna make anything out of it. Create a profit motive, and you get far more results.

Have you seen the amount of computing power bitcoin has behind it vs the amount F@H has behind it? F@H has 12 Petaflops (2 according to some sources), Bitcoin has 842. Even with that amount of Petaflops, F@H has produced 109 research papers over its lifetime (over 13 years, so speed would've been much lower for a while) - imagine how many 842 petaflops could produce...
 
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