[hackerspaces] bitcoin

[The Doctor]

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On 05/28/2011 05:15 AM, Paul Bohm wrote:

> Sounds like a great idea to me. What do you guys think?

Unfortunately, all I have is anecdotal information.  In the grand scheme
of things that counts for slightly more than jack, but factor it into
your consideration as thou wilt.

I started running it about a year ago.  Maybe a little more, maybe a
little less.  I threw ten CPUs at it and in a few days' time generated
50 Bitcoins (the minimum for Bitcoin mining).  About a month or two in
someone posted a link in the Bitcoin forums to a fork of the source tree
which made use of CUDA rather than plain-jane CPU processing.  None of
my CPUs have generated Bitcoins since them.

Since that time, at least one small company has started selling machines
packed full of CUDA-capable nVidia graphics cards specifically marketed
at people interested in Bitcoin mining.  I've also read rumors of
someone who claims to have gotten into Bitcoin marketing as part of a
currency speculation scheme with a few investors, bought his way out of
the contract for a relatively small sum of money, and has gone on to
make a small fortune in Bitcoins which he or she is trying to figure out
a use for.

Add that to your consideration and come to your own conclusions.  I'm
sticking with cash for the immediate future.

- -- 

The Doctor [412/724/301/703]

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JWRTFM!

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