Is Bitcoin Eating into Graphic Card Supplies?

[Clank [MM]]

WTF is Bitcoin, on page 10 of Maximum PC They talk about Bitcoin and compare it to Folding@ahome ( except Bitcoin pays a digital currency for mining, currently $7 a coin ). Boinc does not even get a mention. Seeing as GPU crunching was started by us at Milkyway ( Don't tell me I'm wrong ). Anyone else heard of this?

[Fire$torm]

I've heard one team member mentioning bitcoin on chat night earlier this year. Forgot who though. Anyhow it was explained to me that bitcoin has already seen its heyday. It is much harder now to to generate bitcoins. Ease of generation seems to be inversely proportional to the number of people generating bitcoins. In a nutshell, at this point you spend more in electricity then you earn in profit.

[Dorsilfin]

The exchange rate is actually about 14 dollars a Bitcoin currently.

And yes there is a shortage of Highend ATI/AMD GPU's because of boitcoin mining.

People are getting 20+ cards and setting them up to bitcoin mine in hopes that they crack a chunk and get 50 coins. If they do that once a month they might be able to pay off there investment within the year.

[Dorsilfin]

Boy was my figure off. when I was looking into it , Bitcoins were worth 14 dollars a piece.

http://gawker.com/5850535/bitcoins-are-virtually-worthless

The market has crashed so they are going for just over 2 bucks now lol.. So sad for the people who dumped thousand of dollars into farms

[spingadus]

Lol yeah, but I feel for them. I started up bitcoin awhile back, but my heart just wasn't into it. Crunching for boinc makes me feel better than just crunching for profit.

[rgathright]

This is a reminder... if any of you mined Bitcoin over the past few years...

YOU NEED TO CHECK YOUR WALLET! 1 Bitcoin is now worth $210!!

[Fire$torm]

Wish I had some.

[DrBackJack]

What is going on with bit coin today ?
Anyone know ?

[John P. Myers]

What is going on with bit coin today ?
Anyone know ?

You don't want to know ;( Damn i shoulda started caring back when GPUs were super profitable.

2 days ago 1 Bitcoin = ~$240

Today it's over $350

All because China is now accepting Bitcoin.
BTC China is now the world’s largest Bitcoin exchange

*sigh*

Edit: For a sickening comparison:
All BOINC combined: 7.797 ExaFLOPS
Bitcoin Network: 47.969 ExaFLOPS

[John P. Myers]

Update: Bitcoin hit $450+ today

[trigggl]

Update: Bitcoin hit $450+ today
:-o
Definitely should have gotten on that sooner.

[John P. Myers]

JFC...

Last price:$765.01
High:$784.44
Low:$682.30
Volume:31188 BTC
Weighted Avg:$740.78

Mt. Gox