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What's your take on this whole bitcoin thing?

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1 year ago#31
It's a current disaster. Complete waste of electricity and real resources.
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1 year ago#32
Most people who mine bitcoins any more are actually losing money due to the electricity used to mine them.
1 year ago#33
OUberLord posted...
Most people who mine bitcoins any more are actually losing money due to the electricity used to mine them.


I'm sure most people who are mining have run their numbers through a calculator before mining. Electricity costs me about $1.10 a day while mining gets me about $8.50 a day.
1 year ago#34
lots of free money, I bought them really cheap when they were around 20$ each when it started out and sold them for 1000$ each
1 year ago#35
It's an interesting experiment. Whether it will survive remains to be seen. I am curious which side will be eating crow. Some of the arguments detractors have put up are rather narrow viewed.

I mean talk about the Internet in the 1980's and very early 90's and I'm sure you can dredge up all sorts of dire predictions and authoritative criticisms. But the problem with such positions is they don't take into account the unknowns of evolution or foresee how the market will overcome early obstacles.

But there's always a chance that the obstacles are insurmountable or that the solution to the obstacle is a different cryptocurrency that addresses bitcoins failings.

In short it's a gamble.
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