More because I'm intruiged rather than anything else but does anyone here mine bitcoins? Or know what they are even?
I was looking into it the other day and while I'm not sold on the idea I do think it's an interesting concept. Then again I do think there's problems stopping it taking off from an economic standpoint, such as built in deflation - why would you spend a currency that's only ever (by design) going to go up in value? Of course this isn't necessarily the case, but if it survives it's something that'll be true in general over long periods of time.
I'd definitely go for it if I was living somewhere with free electricity - nothing really to lose in that case apart from perhaps the initial investment cost of a few graphics cards (and even then you've still got a few graphics cards if it fails!) Paying for the electricity you use though seriously eats into any profits you might make.
Thoughts?
I was looking into it the other day and while I'm not sold on the idea I do think it's an interesting concept. Then again I do think there's problems stopping it taking off from an economic standpoint, such as built in deflation - why would you spend a currency that's only ever (by design) going to go up in value? Of course this isn't necessarily the case, but if it survives it's something that'll be true in general over long periods of time.
I'd definitely go for it if I was living somewhere with free electricity - nothing really to lose in that case apart from perhaps the initial investment cost of a few graphics cards (and even then you've still got a few graphics cards if it fails!) Paying for the electricity you use though seriously eats into any profits you might make.
Thoughts?