Bitcoin - Mine Your Money

[Wicked Pissah]

Seems like some sketchy stuff. Especially with the whole deep net usage.

[jazzy]

They aren't if you do it properly. (technically nothing is untraceable, but if you do all your bootstrapping and network sending over Tor, you're pretty anonymous for the most part)

Update: Jeff Garzik, a member of the Bitcoin core development team, says in an email that bitcoin is not as anonymous as the denizens of Silk Road would like to believe. He explains that because all Bitcoin transactions are recorded in a public log, though the identities of all the parties are anonymous, law enforcement could use sophisticated network analysis techniques to parse the transaction flow and track down individual Bitcoin users.

"Attempting major illicit transactions with bitcoin, given existing statistical analysis techniques deployed in the field by law enforcement, is pretty damned dumb," he says.

 

 

is what i was talking about, harry. also nobody here should be using Tor, people in China need that bandwidth.

[Harry]

nobody here should be using Tor, people in China need that bandwidth.

I run several Tor exit nodes totaling over 1 Gbit/s combined. I am sure a few kbit/s at most caused by Bitcoin wouldn't hurt too much (it mainly only runs a bit slow because of the anuses using Bittorrent over Tor). Bitcoin uses barely anything (just a little more than basic IRC traffic at the most, unless you're making the initial connection to the network; doing the bootstrapping).

 

Though I agree that common users should not be using Tor. I was simply saying there is ways to actually be anonymous with Bitcoins, albeit not with the default configuration.

[Kiwi]

Sounds like a stupid idea.

 

What actual things can be bought with it?

 

Food, video games, board games, delivery pizza, sex toys, etc. Tons of shit.

 

What does it use for the software to "mine"?

 

Your GPU..?

[Harry]

Presumably not new video games though?

It's mickey mouse money, but you can convert it to pretty much anything because people actually buy it (surprisingly). Even if no one trades BTC for videogames, you can trade your BTC to USD then use that USD to buy videogames.

 

And people actually spend real money on it.

[Kiwi]

Sounds too good to be true.

 

Why the hate for NVIDIA though?

 

It's not. I've well more than doubled my money in a month (just a small $400 investment to begin with).

 

And Nvidia handles stream processors a bit differently (think quality over quantity, vs ATi with they're 3200 stream processor cards and watnot)

 

The highest end Nvidia card gets about as many hashes as the lowest ATi card.

[TheVirus]

https://en.bitcoin.it/wiki/Why_a_GPU_mines_faster_than_a_CPU

 

I'm mining on slush's pool using my work PC and home PC. I heard about Bitcoins a few months ago but never looked into it, regretting that now, however. Looking to buy some spare ATI cards when I get paid. If you want to mine, you must join a pool as your chances of getting a valid block (worth 50 BTC) is about 0.0004% at this difficulty (which changes every 2 weeks). CPU mining was simple a year ago since the difficulty was so low, but Bitcoins caught on and more and more people joined, thus driving the difficulty up.

 

If you want to donate to a haggard old man: 1H8Pj3qYqfzxqgHzMLLsL6hWGEN88QLdkb

[b0red]

Sounds like a stupid idea.

 

What actual things can be bought with it?

 

Also "games" on the internet is an incredibly vague word, so yeah... cool story, bro.

 

 

 

lolwut

 

 

 

lolwut*2(+derp)

 

 

What does it use for the software to "mine"?

 

silk road where you can buy all the illegal drugs you can dream of.

[TheVirus]

silk road where you can buy all the illegal drugs you can dream of.

 

Yeah, but it's received the attention of the feds, so who knows how long it'll last. I understand it's running on Tor, but it's not good news for Bitcoins and with this new PROTECT-IP act they are trying to pass (Oppose PROTECT-IP Act: U.S. Government Wants To Censor Search Engines And Browsers | Demand Progress), it's only a matter of time before they find a way to outlaw Tor/BTC.

 

I'm working on a site that will show you what you can possibly gain based on the video card. I just finished the barebones today, so a lot of it isn't finished yet.

 

Bitcoin Hardware Comparison with prices