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contradicting reports: Bitcoins. Dailytech say it crashes, Yahoo say SmartBuy

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Your Yahoo link says "run away!" not "smart buy":

"Readers tempted to bet on the Bitcoin should resist, not least because it's unclear whether it will have any enduring worth."

I'm in the "it's a pyramid scam" camp myself, I'll stick with S&P 500 index fund shares.
 
DaveSimmons said:
Your Yahoo link says "run away!" not "smart buy":

"Readers tempted to bet on the Bitcoin should resist, not least because it's unclear whether it will have any enduring worth."

I'm in the "it's a pyramid scam" camp myself, I'll stick with S&P 500 index fund shares.
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they only say so in LAST paragraph, the first 75% are nothing but praises.
 
andylawcc said:
they only say so in LAST paragraph, the first 75% are nothing but praises.
Click to expand...

I think you missed a few parts. I see a warning after every positive point:

- but whereas governments back such money, Bitcoins lack central control.

- Gold, of course, has been a store of value for thousands of years and has at least some industrial use, whereas Bitcoins are brand new and exist only on the Internet.

- Mt. Gox, needless to say, is not a regulated exchange, so its pricing and liquidity data aren't subject to any review or verification. Mt. Gox didn't respond to an email request for comment. The site offers no customer service phone number.
 
The only people who came away with anything are those that got in early and have got out now.

Getting in now is foolhardy.
 
On FWF, one of the users invested at least a couple grand in additional computer hardware to build several machines to mine for bitcoins. I think he's done pretty well for himself.

If you have a higher end ATI video card, it looks like a pretty easy way to generate some extra cash. If you have a Nvidia card, my understanding is that it's not even worth it to try really.
 
The pyramid possibly hasn't bottomed out yet, but the fact that we have a thread in the Video forum on bitcoin mining and an article on Yahoo means that it may be too late to be one of the early winners.

People should think twice about buying extra hardware now, when everybody else has the same idea.
 
DaveSimmons said:
The pyramid possibly hasn't bottomed out yet, but the fact that we have a thread in the Video forum on bitcoin mining and an article on Yahoo means that it may be too late to be one of the early winners.

People should think twice about buying extra hardware now, when everybody else has the same idea.
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yeah it looks like the global rate of bitcoin generation is controlled through the difficulty factor. now with the massive amount of computational power poured into this, probably kinda of hard to get a piece of the pie now. people who got in early though might have made a nice profit.
 
goog40 said:
On FWF, one of the users invested at least a couple grand in additional computer hardware to build several machines to mine for bitcoins. I think he's done pretty well for himself.

If you have a higher end ATI video card, it looks like a pretty easy way to generate some extra cash. If you have a Nvidia card, my understanding is that it's not even worth it to try really.
Click to expand...

Yep, it's a total waste of time if you have an Nvidia graphics card. I ran GUIminer (the GPU accelerated version of the Bitcoin client) for 8 hours on my system, and had 0.002 Bitcoins to show for it. At this rate, it would take half a year to make $20!
 
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