Article: What is happening with MtGox, the biggest Bitcoin Trade Market?
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Apparently it got hacked as these websites say -
Bitcoin's Mt. Gox Goes Offline, Loses $409M -- Recovery Steps and Taking Your Tax Losses - Forbes
Bitcoin Exchange Mt. Gox Goes Offline Amid Allegations of $350 Million Hack | Wired Enterprise | Wired.com
May also be one of their own tricks to run away with the money.
IMHO, investing in cryptocurrencies always involves far more risks then gains. If you really wanna invest your money there are better places to do so.
Bitcoin's Mt. Gox Goes Offline, Loses $409M -- Recovery Steps and Taking Your Tax Losses - Forbes
Bitcoin Exchange Mt. Gox Goes Offline Amid Allegations of $350 Million Hack | Wired Enterprise | Wired.com
May also be one of their own tricks to run away with the money.
IMHO, investing in cryptocurrencies always involves far more risks then gains. If you really wanna invest your money there are better places to do so.
OneManCrew
Active Member
Funny thing, I started thinking that maybe I should buy a few bitcoins as an investment and see how it goes.
Wanted to wait a few more weeks to see if the price would go down more, but I guess the recent events will now crash the value of the coin so I'll see and wait.
What you think would it be a good buy to get it around $90-$100 if it ever will get there?
On a side note news are popping now about the first automated tele-exchange machine (cash machine, ATM) in Singapore.
it sure raises an eye brow when the Monetary authority of Singapore does not regulate or approve bit coins and has “been advising individuals and businesses to think twice and be cautious about accepting or dealing in virtual currencies,"
Wanted to wait a few more weeks to see if the price would go down more, but I guess the recent events will now crash the value of the coin so I'll see and wait.
What you think would it be a good buy to get it around $90-$100 if it ever will get there?
On a side note news are popping now about the first automated tele-exchange machine (cash machine, ATM) in Singapore.
it sure raises an eye brow when the Monetary authority of Singapore does not regulate or approve bit coins and has “been advising individuals and businesses to think twice and be cautious about accepting or dealing in virtual currencies,"
Peter South
Active Member
Hmmm I just recently built a new PC with quad sli GTX 780Ti. They were a bitch to fit into a single case, only way I was able to do it was with 2x 1500W PSUs and about $2,000 in various radiators for a custom water cooling loop to keep them suckers cool.
I was going to do some Bitcoin mining with this new setup just for kicks. But after hearing about Mt Gox I'm thinking that at $800 per video card (over $5,000 in total for the setup) I'm sure I could mine a bitcoin or two however I simply don't think its worth putting all the load on my system for mining.
What do you guys think? Should I put the excess load onto my GPUs when I'm not using them, or is it simply not worth the trouble?
I was going to do some Bitcoin mining with this new setup just for kicks. But after hearing about Mt Gox I'm thinking that at $800 per video card (over $5,000 in total for the setup) I'm sure I could mine a bitcoin or two however I simply don't think its worth putting all the load on my system for mining.
What do you guys think? Should I put the excess load onto my GPUs when I'm not using them, or is it simply not worth the trouble?
It's simply not worth mining bitcoins these days!
Peter South
Active Member
Yeah, this is all kinda what I figured anyways. The GTX 780Ti video cards each suck A LOT of power which is why I needed not one, but two 1500W power supplies just to power the suckers up in quad SLI mode.
So yeah I can easily see how much power it would cost me to operate this system with the video cards running 100% max 24/7, let alone the cost of adding all that stress which will likely shorten their lifespan drastically. You guys are definitely correct, this bitcoin shit ain't worth the time or the money.
I guess the only type of setup where it would be worth the investment would be if you happened to lease a few hundred servers in data centers for shared website hosting or just in general for hosting headless VPSs. In this type of a setup the onboard video card wouldn't be in use for anything and even though they're generally a piece of shit if you had a few hundred of them sitting idle then at least they could be put to work for something. Then again, if you owned a hosting company with that many servers leased out and that many customers you would be making enough money from that alone that you wouldn't be worried about making stupid bitcoins, lol
I do believe that BitCoin does have a place in the world, a truly virtual currency that operates on a self-reliant P2P network is most certainly the way of the future. Ever since Bretton Woods the world currency has been based off of pure bullshit without any standard backing such as gold.
So I guess my only problem with Bitcoin is that there is a set limit of supply and that eventually they will no longer produce any more. I think shortage of currency paired with growth of population equals out too this being a real issue. Therefore I do not see BitCoin as being the dominant virtual currency of the future. Eventually what will need to happen is the two dominant currencies of the world (USD & EU) would need to bond together with their own new generation of virtual currency that is controlled by an international consortium, some what like the UN of money.
But hey, I'm certainly not by any means an economist or financier. I'm just a computer nerd who just completed building a fucking insane computer for himself and is just looking for some cool new ways besides gaming to use all my new resources
So yeah I can easily see how much power it would cost me to operate this system with the video cards running 100% max 24/7, let alone the cost of adding all that stress which will likely shorten their lifespan drastically. You guys are definitely correct, this bitcoin shit ain't worth the time or the money.
I guess the only type of setup where it would be worth the investment would be if you happened to lease a few hundred servers in data centers for shared website hosting or just in general for hosting headless VPSs. In this type of a setup the onboard video card wouldn't be in use for anything and even though they're generally a piece of shit if you had a few hundred of them sitting idle then at least they could be put to work for something. Then again, if you owned a hosting company with that many servers leased out and that many customers you would be making enough money from that alone that you wouldn't be worried about making stupid bitcoins, lol
I do believe that BitCoin does have a place in the world, a truly virtual currency that operates on a self-reliant P2P network is most certainly the way of the future. Ever since Bretton Woods the world currency has been based off of pure bullshit without any standard backing such as gold.
So I guess my only problem with Bitcoin is that there is a set limit of supply and that eventually they will no longer produce any more. I think shortage of currency paired with growth of population equals out too this being a real issue. Therefore I do not see BitCoin as being the dominant virtual currency of the future. Eventually what will need to happen is the two dominant currencies of the world (USD & EU) would need to bond together with their own new generation of virtual currency that is controlled by an international consortium, some what like the UN of money.
But hey, I'm certainly not by any means an economist or financier. I'm just a computer nerd who just completed building a fucking insane computer for himself and is just looking for some cool new ways besides gaming to use all my new resources
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