AMD Optimizes Bitcoin Mining On R600 LLVM OpenCL

[Kivada]

I don't think you understand. The organization in control of your "real" currency can decree that its value is half tomorrow. And the risk of this happening is non-negligible, which is why national banks typically keep diverse currency reserves (not only a single reserve currency).

And theres nothing that says you can't do the same to bitcoins either, though to do that they would actually have to have some actual monetary value. But since they can't be exchanged for actual goods and services you can have fun trying to convince the rest of the world that your bitcoins are worth even as much as monopoly money.

[varikonniemi]

Lol, you didn't make any money, you lost it in increased electrical and cooling costs, the only thing you can trade for it is some hosting services from some sketchy hosts or that moron that wanted to sell his house for bitcoins.

Let me know when you can walk up to a dealership and buy a car with bitcoins, you can't even buy a TV on Amazon with them, you can't get a pair of shoes off Zappos, you can't buy a hard drive off Newegg, you can't buy a camera lens off Adorama. Hell, go to Zareason, System76, Ohava or ThinkPeguin and try and buy a laptop with bitcoins.

You can't do it can you? You know why? It isn't money and all you've managed to do is waste time and electricity masturbating your failed libertarian fantasies.

You must be trollin, right? Have you been living under a rock?

I have bought 20 oz of silver when the USD/BTC ratio was 250. I could any second press to sell my BTC and get EUR in my bank account the next day. Currently the conversion ratio is 150 USD/BTC. If silver and cash in the bank is not money, i don't know what is.

There are millions of dollars worth of USD/BTC and BTC/USD trades on www.mtgox.com alone per day. And there are several other big exchanges as well.

I am not saying i was the ones getting the most advantages. Those guys got millions of dollars. But the good thing about it is that unlike eg. zuckerberg who will continue to bring in millions per year for as long as his simple web service is even remotely popular, those who make money out of bitcoin only have the one-time advantage they loose as soon as they cash out.

[varikonniemi]

There are several IO schedulers, Varik, but CPU schedulers have always been kept to just one: CFS

Ok, sorry i got confused

Is there some reason why there are several io schedulers, but only one cpu scheduler?

[varikonniemi]

And theres nothing that says you can't do the same to bitcoins either, though to do that they would actually have to have some actual monetary value. But since they can't be exchanged for actual goods and services you can have fun trying to convince the rest of the world that your bitcoins are worth even as much as monopoly money.

Stop talking out of your ass. Bitcoins are a finite resource, that cannot be inflated at the whim of a banker or politician. That is a big part of their appeal compared to fiat money.

Also, there are at least 3 services that take BTC and buys you stuff from what ever internet site you want, and have them delivered to you. Most take 1% commission, but amazon for instance has a deal with one payment processor so that the customer pays nothing extra compared to credit cards/paypal prices. Bitpay.com is a payment processor that takes in BTC and pays the next day USD to any company's bank account making it a 1-2-3 process to start accept bitcoins.

So honestly, do your research so that you won't sound so stupid.

[smitty3268]

Stop talking out of your ass. Bitcoins are a finite resource, that cannot be inflated at the whim of a banker or politician. That is a big part of their appeal compared to fiat money.

You can say the same thing about gold, though, and the world dropped the gold standard for good reasons. People who think the economy was better back then are willfully blind. It usually has more to do with politics than reason.

Besides, right now the value of a bitcoin is determined by the whim of speculators. I'm not sure that's any better than bankers or politicians. In fact, many of those speculators are bankers. One guy can bet a lot of money, or start spreading rumors, and watch the entire bitcoin market react with wild swings up and down.

[varikonniemi]

Well, every FIAT currency that has EVER existed has ended in hyper inflation. If it is possible to inflate, the ones in charge will do it since it brings more money to those in charge.

Also, things have only gone down after leaving the gold standard. Living on borrowed money can only work for so long. And that is coming to an end as we can see with the world economy struggling under its debt load.

Bitcoin is a new paradigm that has the potential to be fair money without politics.

[chithanh]

I don't think you understand. The organization in control of your "real" currency can decree that its value is half tomorrow.

And theres nothing that says you can't do the same to bitcoins either, though to do that they would actually have to have some actual monetary value.

I thought you didn't understand, now I am sure. Bitcoin is fully decentralized, there is not a single authority that has the power to determine its value. Your irrational fear/hate/dislike of Bitcoin makes you come up with false claims just to win the argument.

Look, there are indeed a number of problems with Bitcoin, each of which has the potential to bring down the entire scheme. But a central organization which suddenly devalues the currency is not one of them.

But since they can't be exchanged for actual goods and services you can have fun trying to convince the rest of the world that your bitcoins are worth even as much as monopoly money.

This is wrong. You can buy goods and services for Bitcoins. Monopoly money has totally different properties (not electronic, not cryptographically secured, no limited supply).

[RussianNeuroMancer]

Besides, right now the value of a bitcoin is determined by the whim of speculators.

This days gold value is determined by speculators too.

[brosis]

You can say the same thing about gold, though, and the world dropped the gold standard for good reasons.

Not "world", but "banks".

Not due to "good reason", but ONLY to be able to INFLATE (read "bubble") the money.

Once they understood, people TRUST them in that money is back-uped by gold, they started to REPLACE GOLD with TRUST.

They started to EMIT much more debit notes than capital they possess.

The birth of the bubble, which is "bank lie".

Bitcoin is a LOT more secure in this matter.

[chithanh]

Not "world", but "banks".

Not due to "good reason", but ONLY to be able to INFLATE (read "bubble") the money.

Well as it is the banks who mostly control the world's currencies, you can say world=banks.
And the desire to have the ability to inflate the amount of currency at will does have economic justification. It is of course a bad thing for the people who already have such currency, which is part of the reason why many people went to Bitcoin.