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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 1121

post #11201 of 22341
Quote:
Originally Posted by Nhb93 View Post

I'm running 3 cards off a Seasonic X-750 right now, I'm not sure I would risk a 4th card with 750W, but I would probably get an 850W just to be safe.

So now that Pot has run it's course, what are you guys mining now? Coye or something else?
i mine nuts till i get like one million then i will try to mine doge for a while
post #11202 of 22341
I will give this UTC a whirl when I get back home. Too many alt coins ~~
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post #11203 of 22341
Can someone explain to me how this currency is valued? I mean arent other currencies backed by gold or oil? How does this work?
post #11204 of 22341
Quote:
Originally Posted by oomalikoo View Post

Can someone explain to me how this currency is valued? I mean arent other currencies backed by gold or oil? How does this work?
value comes from a fact that a not elected bankster cant press a button and there will be trilion extra coins. there is a limited supply with limited mining. i believe in long term the coins will have their own ecosystem where several coins will be dominant, btc, ltc, doge possibly who knows smile.gif
post #11205 of 22341
Quote:
Originally Posted by oomalikoo View Post

Can someone explain to me how this currency is valued? I mean arent other currencies backed by gold or oil? How does this work?

Their value comes from the investment and interest from people mining/trading them, it's really an artificial value as it's based more on popularity than anything else

Think of them more like shares for a company than actual currency and it becomes a little easier to understand how they gain value from nothing
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post #11206 of 22341
POT isnt confirming the rest of my coins, and DOGE difficulty is high, maybe time to try something else?
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post #11207 of 22341
I needa pool to mine ultra coin if that's the next big thing.
post #11208 of 22341
Quote:
Originally Posted by thrgk View Post

POT isnt confirming the rest of my coins, and DOGE difficulty is high, maybe time to try something else?

mine are stuck on scrypto too mad.gif

im letting my hardware have a rest today biggrin.gif & im going to play some games tonight I think?

thumb.gif
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post #11209 of 22341
Quote:
Originally Posted by thrgk View Post

POT isnt confirming the rest of my coins, and DOGE difficulty is high, maybe time to try something else?

Klondike Coin KDC looks very promising thumb.gif
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post #11210 of 22341
Quote:
Originally Posted by oomalikoo View Post

Can someone explain to me how this currency is valued? I mean arent other currencies backed by gold or oil? How does this work?

It's kinda like, where do baseball cards get their value, or pogs, or antiques or artwork or gold or oil or... there is only value because people say there is value. In the case of cryptocurrencies, we have exchanges just like commodities do and people put value on these "coins" when in reality there is no coin, it's just a digital signature that is rewarded for work done, the more powerful and efficient your machine is at mining these coins, the more money you make, or you can make money by not mining at all, by simply learning how to play the exchanges just like is done with more established commodities such as gold, silver, oil... To go back to your question, " I mean arent other currencies backed by gold or oil?" Richard Nixon took the United States off the "Gold Standard" for good in 1971: http://www.history.com/this-day-in-history/fdr-takes-united-states-off-gold-standard This being the case, the almighty USD is only worth what people say it is, just like cryptocurrencies.
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