[GNHLUG] MerriLUG: April 2nd 2013 - Bitcoin

Sun Apr 7 14:08:49 EDT 2013

Why mine it yourself when you can have others do it for you?
http://tech.slashdot.org/story/13/04/06/1448234/new-skype-malware-uses-victims-machines-to-mine-bitcoins

Seriously, it appears that the compute needed to mine coins have
outstripped the power of CPUs, GPUs and the action is in purpose built
ASICs.

I wonder at what point the expense of electricity is greater than the value
of the mined bitcoin.

-m

On Sun, Apr 7, 2013 at 10:32 AM, Bruce Labitt
<bruce.labitt at myfairpoint.net>wrote:

> On 04/06/2013 07:28 PM, Ben Scott wrote:
> > On Thu, Apr 4, 2013 at 5:27 PM, David Rysdam <david at rysdam.org> wrote:
> >>>    Peer-to-peer is two guys meeting on a street corner and saying "Hey,
> >>> wanna buy some Bitcoins?"  :)
> >> What if 100 guys meet on a street corner?
> >    Umm... then there's more of them?  :)  It doesn't inherently affect
> > the peer-to-peer nature, if that's what you're asking.
> >
> >> And what if that street corner is then blocked, "DoS'd" if you will,
> >> by a rival gang? Isn't that exactly what happened here?
> >    I guess so... I get the feeling this analogy has gotten
> out-of-control.  :)
> >
> > -- Ben
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> >
> >
> Anyone doing bit coin mining?  Seems like it would favor geeks with high
> power computers/gaming rigs to decrypt the codes.  I've heard that
> people are harnessing gpu's to do the decryption.  Discuss.
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-- 
Marc Nozell (marc at nozell.com) http://www.nozell.com/blog
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