On buying (or not) a gaming rig to mine Bitcoin:
With the difficulty skyrocketing and exchange rates sitting stagnant at $5~8 for the last week or so, you pretty much missed the boat to buy dedicated mining hardware, IMHO. If you already have the hardware, or are looking for an excuse to buy a couple bitchin' new graphics cards for a gaming rig, there's definitely money to be made mining when you're not using it.
But I don't think I'd drop $1k into a rig that's only to mine with unless it was $1k I'd blow on something even more retarded. I certainly wouldn't sink next month's rent into it.
https://reddit.com/r/AskReddit/comments/hnp7f/_/c1wuv1b/?context=1
On easily cashing out Bitcoin using mtgox:
I think getting money is not that difficult. The daily volume on mtgox is over $100K, so I think anyone can currently sell Bitcoins for USD without problems.
https://reddit.com/r/AskReddit/comments/hnp7f/_/c1wuhjh/?context=1
Tulip mania
http://en.wikipedia.org/wiki/Tulip_mania
On it being $10:
Is Bitcoin 10 usd yet?
https://reddit.com/r/Bitcoin/comments/hpq6c/is_bitcoin_10_usd_yet/
Mtgox might disappear:
400K bitcoins is $4M dollars. Given all risks and uncertainties around bitcoins, no wonder some of the early founders exit their investments. Tomorrow mtgox or dwolla may disappear. It is the matter of one government intervention.
https://reddit.com/r/Bitcoin/comments/hq1wj/_/c1xgesq/?context=1
Bitcoin is terrible at friendly front-end:
This is a dangerous point-of-view. The entire bitcoin ecosystem is ugly, confusing, and deeply unusable. Really think about the questions posed in the article. The client works, as in, it creates a functional front-end for some bitcoin-related tasks, but it isn't at all designed for how humans would want to interact with the currency. The point of the article isn't that the client is hard, it's that the client works pretty well for obsessive nerds (present company included), but if bitcoin is really going to succeed at the goals it sets out to accomplish, it needs to not only be usable by normal people, it needs to be exceptional. If you think it's reasonably usable, you're welcome to that opinion, but please understand that you're the exact sort of person Mr. Falkvinge was referring to. Great with complex logic, terrible at friendly front-end.
https://reddit.com/r/Bitcoin/comments/hrqpm/_/c1xtfuy/?context=1
On wallets going out of sync:
*One thing that I think is lacking is the ability to functionally use wallets on different machines as they will tend to get out of sync. This might be able to be overcome if new addresses were deterministically created from a seed contained in the wallet, but there are probably better ways.
Also, the UI for the official client is kind of a bone.*
https://reddit.com/r/Bitcoin/comments/hrqpm/_/c1y730k/?context=1
On Bitcoin’s ease of use:
*In fact, BTC is in such an infant state right now only enthusiasts investors, and geeks who can actually grasp how the system truly works, are using it for real.
The usability issues raised by the article are real. No grandma, or any well respected enterprise for that matter, would accept working with this type of GUI. If anything, a REAL enterprise backend still needs to be developed to handle the BTC's ungly guts, with all transactions details, hashes, mining, wallets, proxy connections, peer discovery via IRC channels... I mean... this is all too RAW for the end user. I can see a near future where startups will begin to offer user friendly GUIs, online access, maybe even online banking for your bitcoin accounts, automated backups and safety mechanisms to protect your coins in case of theft.
All of us geeks will end up supporting the bootstrap of this network so that, later on, your grandma will be able to use this just as she would use a credit card today.*
https://reddit.com/r/Bitcoin/comments/hrqpm/_/c1xungz/?context=1
rBitcoin is not a sub for memes
This isnt a subreddit for memes. Take it back to r/pics
https://reddit.com/r/Bitcoin/comments/i7z0v/_/c21m3ld/?context=1
I think I’ll keep my money elsewhere
This further reinforces BC's image as nothing more than a Ponzi scheme. When the distribution is skewed that heavily towards early adopters, they will have almost total control over the market. Those 32 could manipulate to their hearts content. I think I'll keep my money elsewhere....
https://reddit.com/r/Bitcoin/comments/ifl26/_/c23e3ei/?context=1
[link] [comments]
source https://www.reddit.com/r/btc/comments/i6evo4/my_collection_of_amazing_early_bitcoin_comments/
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