Overclock.net › Forums › Distributed Computing › Distributed Computing - General › [Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread
New Posts  All Forums:Forum Nav:

[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 352

post #3511 of 22321
Quote:
Originally Posted by Playapplepie View Post

Okay, I think I understand Bitcoins, but my parents don't understand.

Their questions are:

1. What is the stability in the currency and what is backed by?

2. What is the value based on?

1) demand & nothing
2) demand

*edit to include quote cause I suck at this forums.
Edited by Jollyburner - 11/29/13 at 4:24pm
N/A II
(15 items)
 
  
CPUMotherboardGraphicsRAM
Intel Core i5 2500K @4.4 GHz P8P67 PRO REV 3.1 2x NVIDIA GeForce GTX 570 HD 2560MB oc G. Skill Ripjaws X F3 4x4GB DDR3 1600 
Hard DriveOptical DriveCoolingOS
Seagate Barracuda 7200rpm SATA6 Samsung Noctua NH-C14 7 Pro 64 - edited 
MonitorKeyboardPowerCase
2x Samsung 24'' 1920x1080, 1x Acer 24'' 1920x1080 Azio Levetron Mech4 OCZ Z-series 1000W 80+ Gold Coolermaster cm 690 II Advanced - Black 
MouseMouse PadAudio
Saitek Cyborg R.A.T. 7 - custom Steelseries 9HD Semi Rough Glide Sennheiser PC330 G4ME Headset / Genius SW-2.1 8... 
  hide details  
Reply
N/A II
(15 items)
 
  
CPUMotherboardGraphicsRAM
Intel Core i5 2500K @4.4 GHz P8P67 PRO REV 3.1 2x NVIDIA GeForce GTX 570 HD 2560MB oc G. Skill Ripjaws X F3 4x4GB DDR3 1600 
Hard DriveOptical DriveCoolingOS
Seagate Barracuda 7200rpm SATA6 Samsung Noctua NH-C14 7 Pro 64 - edited 
MonitorKeyboardPowerCase
2x Samsung 24'' 1920x1080, 1x Acer 24'' 1920x1080 Azio Levetron Mech4 OCZ Z-series 1000W 80+ Gold Coolermaster cm 690 II Advanced - Black 
MouseMouse PadAudio
Saitek Cyborg R.A.T. 7 - custom Steelseries 9HD Semi Rough Glide Sennheiser PC330 G4ME Headset / Genius SW-2.1 8... 
  hide details  
Reply
post #3512 of 22321
Quote:
Originally Posted by Playapplepie View Post

Okay, I think I understand Bitcoins, but my parents don't understand.

Their questions are:

1. What is the stability in the currency and what is backed by?

2. What is the value based on?

1. Not very stable. Prices quadrupled within the last month and it can crash any moment now... It is backed by people buying Bitcions.

2. The value is based on how much people are willing to pay for Bitcoins.


Look at it this way. What is gold backed by? What is USD backed by?
What is the value of gold based on? What is the value of USD based on?

The price of gold is driven by demand, the value of USD is based on the overall power of the USA.
Power Bac G5
(6 items)
 
  
CPUGraphicsRAMHard Drive
Intel i7 6950X EVGA GTX 1080 Ti GSkill 32GB 4133Mhz Samsung 960 Pro 1TB 
CoolingMonitor
Corsair H110i ASUS PG278Q 
  hide details  
Reply
Power Bac G5
(6 items)
 
  
CPUGraphicsRAMHard Drive
Intel i7 6950X EVGA GTX 1080 Ti GSkill 32GB 4133Mhz Samsung 960 Pro 1TB 
CoolingMonitor
Corsair H110i ASUS PG278Q 
  hide details  
Reply
post #3513 of 22321
Thread Starter 
Quote:
Originally Posted by Playapplepie View Post

I actually have a 270x.

Easy 400kh/s, I've helped a friend tune his yesterday. It's a 7870 in disguise.
Quote:
Originally Posted by Hokies83 View Post

I sold my extra's but i still have 8 7950s.

Ive Sold a Total of around 40 BTC for around 35.000 $ in last 30 days.

All Mined with Amd Gpu's.

Ive been saying it forever that there is 0 reason to own Nvidia.

Yeah there is, I FRIGGEN GOT 35k mining with AMD, now I can get 4 Titans if I feel like it biggrin.gif
So, unless you're super rich, yeah, you're dumb if you go nvidia. Who doesn't like free money!?
Quote:
Originally Posted by TheLAWNOOB View Post

Umm, Nvidia has better Linux support for me.

Eg: 7850 with latest drivers can't play Killing floor without insane lag spike.
GTX 280 with old as hell driver lets me play killing floor at max setting smooth, except for some minor graphics element missing (floor of some maps).

Funny guy! lol xD
I'd get an NVIDIA to game on a non mining rig, but only if it's free...I'd be tempted to mine and won't ever play a game otherwise.
Quote:
Originally Posted by Playapplepie View Post

Okay, I think I understand Bitcoins, but my parents don't understand.

Their questions are:

1. What is the stability in the currency and what is backed by?

2. What is the value based on?

Quote:
Originally Posted by Jollyburner View Post

1) demand & nothing
2) demand

*edit to include quote cause I suck at this forums.

+1

Read up on Fiat money, nothing's backing the usd or any other currency these days.
watch?v=DQ6T6EL9CSw
post #3514 of 22321
Quote:
Originally Posted by ivanlabrie View Post

+1

Read up on Fiat money, nothing's backing the usd or any other currency these days.
watch?v=DQ6T6EL9CSw

Also let them know that since 1971 gold doesn't back the dollar. The value of gold was relatively stable before but after that year it has since went on a rollercoaster.

Got my 7950 now, can't wait to (hopefully) mine at 600 Kh/s. But I want to catch up with my games too tongue.gif
post #3515 of 22321
Quote:
Originally Posted by ccRicers View Post

Also let them know that since 1971 gold doesn't back the dollar. The value of gold was relatively stable before but after that year it has since went on a rollercoaster.

Got my 7950 now, can't wait to (hopefully) mine at 600 Kh/s. But I want to catch up with my games too tongue.gif

Just mine with it and throw video games out of the window.

What is more important? Making $70+ a week on your GPUs or spending $70+ a week on video games ???
Power Bac G5
(6 items)
 
  
CPUGraphicsRAMHard Drive
Intel i7 6950X EVGA GTX 1080 Ti GSkill 32GB 4133Mhz Samsung 960 Pro 1TB 
CoolingMonitor
Corsair H110i ASUS PG278Q 
  hide details  
Reply
Power Bac G5
(6 items)
 
  
CPUGraphicsRAMHard Drive
Intel i7 6950X EVGA GTX 1080 Ti GSkill 32GB 4133Mhz Samsung 960 Pro 1TB 
CoolingMonitor
Corsair H110i ASUS PG278Q 
  hide details  
Reply
post #3516 of 22321
Gold is a tangible asset. It has demand in many industries like jewelry and semiconductors. Bitcoins have no tangible value, my dad argues.
Swamplog 2.0
(10 items)
 
  
CPUMotherboardGraphicsRAM
Ryzen R7 1700 @ 3.5GHz MSI X370 Gaming Pro Carbon Gigabyte GTX 1070 G. Skill 2x8Gb DDR4 3200 @ 2933 
Hard DriveHard DriveHard DriveCooling
Samsung 850 Pro 128Gb SSD Sandisk 480Gb SSD WD Black 1TB HDD Corsair H60 
OSPower
Windows 10 Pro x64 Thermaltake Toughpower 750w 
  hide details  
Reply
Swamplog 2.0
(10 items)
 
  
CPUMotherboardGraphicsRAM
Ryzen R7 1700 @ 3.5GHz MSI X370 Gaming Pro Carbon Gigabyte GTX 1070 G. Skill 2x8Gb DDR4 3200 @ 2933 
Hard DriveHard DriveHard DriveCooling
Samsung 850 Pro 128Gb SSD Sandisk 480Gb SSD WD Black 1TB HDD Corsair H60 
OSPower
Windows 10 Pro x64 Thermaltake Toughpower 750w 
  hide details  
Reply
post #3517 of 22321
Quote:
Originally Posted by TheLAWNOOB View Post

Just mine with it and throw video games out of the window.

What is more important? Making $70+ a week on your GPUs or spending $70+ a week on video games ???

Making 70$ a week with Gpu. Then buying 2nd hand steam games for peanuts on Hard Forum.

a 30/70 ratio can be done. u can mine when ever ur afk abd when ur gone and when ur asleep and game when u want to.
    
CPUMotherboardGraphicsGraphics
i7 3770k 5.2ghz  GIGABYTE G1 Assassin Sniper 3 7950 with Alphacool block 7950 w/ Alphacool Block 
GraphicsRAMHard DriveCooling
7950 w/ Alphacool block G.SKILL Trident X 2500mhz 2x4gb SanDisk Extreme 240gb sata III 6gbs x5 SwiftTech Apongee Drive II 
CoolingCoolingCoolingOS
Monsta 360 86mm thick rad X 4 MCP 35X Pump x2 400ML Frozen Q Fusion res x3 Windows 7 Ultimate 64 bit 
MonitorKeyboardPowerCase
CatLeap 2560x1440 + Acer hn274h bmiiid 120hz 3D Logitech G19 Corsair Ax1200 watts  Mountain Mods Ascension 
MouseAudio
Logitech M570 Pioneer SP-BS21 Bookshelf Loudspeakers + Lepai Amp 
  hide details  
Reply
    
CPUMotherboardGraphicsGraphics
i7 3770k 5.2ghz  GIGABYTE G1 Assassin Sniper 3 7950 with Alphacool block 7950 w/ Alphacool Block 
GraphicsRAMHard DriveCooling
7950 w/ Alphacool block G.SKILL Trident X 2500mhz 2x4gb SanDisk Extreme 240gb sata III 6gbs x5 SwiftTech Apongee Drive II 
CoolingCoolingCoolingOS
Monsta 360 86mm thick rad X 4 MCP 35X Pump x2 400ML Frozen Q Fusion res x3 Windows 7 Ultimate 64 bit 
MonitorKeyboardPowerCase
CatLeap 2560x1440 + Acer hn274h bmiiid 120hz 3D Logitech G19 Corsair Ax1200 watts  Mountain Mods Ascension 
MouseAudio
Logitech M570 Pioneer SP-BS21 Bookshelf Loudspeakers + Lepai Amp 
  hide details  
Reply
post #3518 of 22321
Quote:
Originally Posted by Hokies83 View Post


Making 70$ a week with Gpu. Then buying 2nd hand steam games for peanuts on Hard Forum.

a 30/70 ratio can be done. u can mine when ever ur afk abd when ur gone and when ur asleep and game when u want to.

Or just mine 100% all the time... I've found this really ups my productivity. :p Instead of gaming you get actual work done, it's really nice and you get a decent lumpsum every day or so, I'm making around $35 or $40 a day right now at current rates, I have a feeling it won't last long though.

Number Cruncher
(16 items)
 
HTPC
(11 items)
 
750TIMINER2
(15 items)
 
CPUMotherboardGraphicsRAM
i7 2600k ASUS Sabertooth Z77 Sapphire 290 Tri-x 4GB OC CORSAIR Vengeance 16GB 
Hard DriveHard DriveHard DriveOptical Drive
Intel 520 120 GB SSD Seagate Barracuda 1 TB 250GB Samsung 840 EVO SSD LG Blu-Ray Lightscribe Combo Burner 
CoolingOSMonitorPower
Swiftech H320 (CPU only) Windows 7 Ultimate 27" Shimian 1440p Monitor 1000W Corsair PSU 
CaseMouseMouse PadAudio
800D custom painted and fixed up! 15 year old Microsoft Custom Minecraft Mousepad Logitech 2.1 Speakers (wub wubbity wub wub) 
CPUMotherboardGraphicsRAM
i5 3570k MSI Z68 MA-ED55 MSI GTX 750 Ti 6GB Corsair XMP 
Hard DriveOptical DriveCoolingOS
500GB WD Blue ASUS DVD Burner Hyper 212+ Windows 8.1 
PowerCase
Rosewill HIVE 750W Rosewill Blackbone 
CPUMotherboardGraphicsRAM
AMD Sempron 145 Gigabyte 990FXA-UD3 4x MSI GTX 750 Ti 6 GB Corsair XMP 
Hard DriveCoolingOSMonitor
500 GB Seagate Barracuda Stock Windows 7 LG 20" 900p display 
KeyboardPowerCaseMouse
Dell generic Rosewill HIVE 750W Rosewill Thor V2 Dell generic 
Other
4x USB Powered Risers 
  hide details  
Reply
Number Cruncher
(16 items)
 
HTPC
(11 items)
 
750TIMINER2
(15 items)
 
CPUMotherboardGraphicsRAM
i7 2600k ASUS Sabertooth Z77 Sapphire 290 Tri-x 4GB OC CORSAIR Vengeance 16GB 
Hard DriveHard DriveHard DriveOptical Drive
Intel 520 120 GB SSD Seagate Barracuda 1 TB 250GB Samsung 840 EVO SSD LG Blu-Ray Lightscribe Combo Burner 
CoolingOSMonitorPower
Swiftech H320 (CPU only) Windows 7 Ultimate 27" Shimian 1440p Monitor 1000W Corsair PSU 
CaseMouseMouse PadAudio
800D custom painted and fixed up! 15 year old Microsoft Custom Minecraft Mousepad Logitech 2.1 Speakers (wub wubbity wub wub) 
CPUMotherboardGraphicsRAM
i5 3570k MSI Z68 MA-ED55 MSI GTX 750 Ti 6GB Corsair XMP 
Hard DriveOptical DriveCoolingOS
500GB WD Blue ASUS DVD Burner Hyper 212+ Windows 8.1 
PowerCase
Rosewill HIVE 750W Rosewill Blackbone 
CPUMotherboardGraphicsRAM
AMD Sempron 145 Gigabyte 990FXA-UD3 4x MSI GTX 750 Ti 6 GB Corsair XMP 
Hard DriveCoolingOSMonitor
500 GB Seagate Barracuda Stock Windows 7 LG 20" 900p display 
KeyboardPowerCaseMouse
Dell generic Rosewill HIVE 750W Rosewill Thor V2 Dell generic 
Other
4x USB Powered Risers 
  hide details  
Reply
post #3519 of 22321
Quote:
Originally Posted by cam51037 View Post

Or just mine 100% all the time... I've found this really ups my productivity. tongue.gif  Instead of gaming you get actual work done, it's really nice and you get a decent lumpsum every day or so, I'm making around $35 or $40 a day right now at current rates, I have a feeling it won't last long though.

Chinese are controling the market.


I see it going up then they dump it goes down then back up then they dump... Never ending cycle.
    
CPUMotherboardGraphicsGraphics
i7 3770k 5.2ghz  GIGABYTE G1 Assassin Sniper 3 7950 with Alphacool block 7950 w/ Alphacool Block 
GraphicsRAMHard DriveCooling
7950 w/ Alphacool block G.SKILL Trident X 2500mhz 2x4gb SanDisk Extreme 240gb sata III 6gbs x5 SwiftTech Apongee Drive II 
CoolingCoolingCoolingOS
Monsta 360 86mm thick rad X 4 MCP 35X Pump x2 400ML Frozen Q Fusion res x3 Windows 7 Ultimate 64 bit 
MonitorKeyboardPowerCase
CatLeap 2560x1440 + Acer hn274h bmiiid 120hz 3D Logitech G19 Corsair Ax1200 watts  Mountain Mods Ascension 
MouseAudio
Logitech M570 Pioneer SP-BS21 Bookshelf Loudspeakers + Lepai Amp 
  hide details  
Reply
    
CPUMotherboardGraphicsGraphics
i7 3770k 5.2ghz  GIGABYTE G1 Assassin Sniper 3 7950 with Alphacool block 7950 w/ Alphacool Block 
GraphicsRAMHard DriveCooling
7950 w/ Alphacool block G.SKILL Trident X 2500mhz 2x4gb SanDisk Extreme 240gb sata III 6gbs x5 SwiftTech Apongee Drive II 
CoolingCoolingCoolingOS
Monsta 360 86mm thick rad X 4 MCP 35X Pump x2 400ML Frozen Q Fusion res x3 Windows 7 Ultimate 64 bit 
MonitorKeyboardPowerCase
CatLeap 2560x1440 + Acer hn274h bmiiid 120hz 3D Logitech G19 Corsair Ax1200 watts  Mountain Mods Ascension 
MouseAudio
Logitech M570 Pioneer SP-BS21 Bookshelf Loudspeakers + Lepai Amp 
  hide details  
Reply
post #3520 of 22321
Quote:
Originally Posted by Hokies83 View Post

Making 70$ a week with Gpu. Then buying 2nd hand steam games for peanuts on Hard Forum.

a 30/70 ratio can be done. u can mine when ever ur afk abd when ur gone and when ur asleep and game when u want to.

That's probably what I'll end up doing. Now I leave my card mining overnight and while I go to work. So I can make money while I make money.

At least that's the plan before I can build a dedicated 24/7 mining rig.
New Posts  All Forums:Forum Nav:
  Return Home
  Back to Forum: Distributed Computing - General
Overclock.net › Forums › Distributed Computing › Distributed Computing - General › [Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread