Jessie, GPU's are good at calculating physics and graphics because they are able to calculate many times faster than a CPU. The idea with BitCoins is there is a finite amount of Bitcoins to be generated (by means of a very long and complex algorithm). Each time another bitcoin is generated, the difficulty rating for the entire world goes up - thus making it more difficult to generate the next coin.
Eventually, there will come a point where the algorithm stops generating bitcoins (its some large number like 210 million IIRC). This simulates humanity finding all of X precious resource
(2012-09-25, 06:18 PM)Tom K. Wrote: [ -> ]Jessie, GPU's are good at calculating physics and graphics because they are able to calculate many times faster than a CPU. The idea with BitCoins is there is a finite amount of Bitcoins to be generated (by means of a very long and complex algorithm). Each time another bitcoin is generated, the difficulty rating for the entire world goes up - thus making it more difficult to generate the next coin.
Eventually, there will come a point where the algorithm stops generating bitcoins (its some large number like 210 million IIRC). This simulates humanity finding all of X precious resource
Ah I see, thanks for clearing that up!
(2012-09-25, 04:24 PM)Kickerbat Wrote: [ -> ] (2012-09-25, 03:54 AM)brad-t Wrote: [ -> ]If I got a bitcoin for every time someone asked me how much a bitcoin was worth, I have no idea how much money I'd have.
If only.
Personally i would rather have the gold than a virtual currency, you can sleep with gold.. the laptop gets too hot for btc's
Why? Both are worthless when all goes to hell. I never understood stock piling gold. Because, no one is going to want to carry a very heavy and weak metal around when they are just trying to survive.
(2012-09-26, 04:52 AM)Alex Smith Wrote: [ -> ] (2012-09-25, 04:24 PM)Kickerbat Wrote: [ -> ] (2012-09-25, 03:54 AM)brad-t Wrote: [ -> ]If I got a bitcoin for every time someone asked me how much a bitcoin was worth, I have no idea how much money I'd have.
If only.
Personally i would rather have the gold than a virtual currency, you can sleep with gold.. the laptop gets too hot for btc's
Why? Both are worthless when all goes to hell. I never understood stock piling gold. Because, no one is going to want to carry a very heavy and weak metal around when they are just trying to survive.
If you want to get technical all we really are doing is playing pretend with any currency. Should probably just resort back to the barter system :p
Coming in 2045: Use your brain to generate bitcoins to use on real products! Like the new iPhone 43SXX, the iTV 85", and the iCar 8s!!
BitCoins is a great experiment, but that's all I consider it to be at the moment. It'll be interesting to see how it folds in the future.
(2012-09-27, 02:43 AM)WebOutfit Wrote: [ -> ]Coming in 2045: Use your brain to generate bitcoins to use on real products! Like the new iPhone 43SXX, the iTV 85", and the iCar 8s!!
I think it's safe to say you have an iPhone 4S
(2012-09-27, 12:58 AM)Jessie S. Wrote: [ -> ]If you want to get technical all we really are doing is playing pretend with any currency. Should probably just resort back to the barter system :p
Currency is just an obscuration of the barter system. Rather than having to trade x item for y item, you trade x item for a fungible, intangible value that can be exchanged for y item. In this case, it's actually a better system.
The difference between BitCoins and actual currency is that people will actually give you things in exchange for actual currency. The practical application of BitCoins is pretty limited.
(2012-09-27, 04:13 AM)Imad Jomaa Wrote: [ -> ]BitCoins is a great experiment, but that's all I consider it to be at the moment. It'll be interesting to see how it folds in the future.
(2012-09-27, 02:43 AM)WebOutfit Wrote: [ -> ]Coming in 2045: Use your brain to generate bitcoins to use on real products! Like the new iPhone 43SXX, the iTV 85", and the iCar 8s!!
I think it's safe to say you have an iPhone 4S
You mean the 43SXX? I have 2. The 800gb and 4tb.
I heard Apple are bringing out a new line of MacBook Pros with 6 Exabytes of SSD storage