The Bitcoin Tracking Thread

[Ares]

Thanks at least I have an idea of the cost now.

I skimped on a few things, I could of purchased higher end graphics cards that allow for over clocking, and a 1200w Power supply. But figured since I'm unemployed it was already a big risk. lol So I'll build that start hashing, pay it off continue mining and hopefully mtgox will start trading and making my investment worth it. Will take 30 days to get about 360 coins, I plan on keeping a good portion of those and only selling when / if I need too.

[Son-of-Liberty]

Ares do you know how much bandwidth the mining rig would use? I am out in the country and my internet is reasonably fast but there is a bandwidth cap of 30GB/month. Could upgrade to 60GB fairly cheaply but beyond that I am not sure.

[Ares]

Ares do you know how much bandwidth the mining rig would use? I am out in the country and my internet is reasonably fast but there is a bandwidth cap of 30GB/month. Could upgrade to 60GB fairly cheaply but beyond that I am not sure.

You won't get anywhere near that. The bandwidth used by Bitcoin / litecoin mining is pretty insignificant. You'll perform the work in 256k units, so it's pretty small. You have a way to meter your bandwidth and keep an eye on it? I would rely on that to determine it's usage but I haven't read anywhere of anyone complaining about how much bandwidth mining uses.

[sirgonzo420]

Ares do you know how much bandwidth the mining rig would use? I am out in the country and my internet is reasonably fast but there is a bandwidth cap of 30GB/month. Could upgrade to 60GB fairly cheaply but beyond that I am not sure.

Electricity bill is generally more of a factor than bandwidth.

[Son-of-Liberty]

Yeah I can monitor bandwidth easily. Just wanted to make sure it wasn't going to be huge bandwidth hog because that could potentially be a problem.

[EE_]

Litecoin is now $4.33.

I hope this catches on globally so everyone can use this digital currency.
Soon there will no longer be a need for hard currencies like cash, gold and silver.
This is going to be great!

[Hitch]

I hope this catches on globally so everyone can use this digital currency.
Soon there will no longer be a need for hard currencies like cash, gold and silver.
This is going to be great!

What's even better, is if they could make a chip that we can implant in our heads. Nobody could steal our bitcoins then.

The future is indeed very exciting!

[sirgonzo420]

I hope this catches on globally so everyone can use this digital currency.
Soon there will no longer be a need for hard currencies like cash, gold and silver.
This is going to be great!

LOL. something like that. But for those of us who are old-school gold/silver bugs, digital currencies can buy a shit ton of gold and silver, and even ammo, if done correctly.

[Shami-Amourae]

[Son-of-Liberty]

I was a hard sell but am definitely going to invest a small amount.

I am looking at bitcoin/litecoin as a risky investment. Sort of like penny stocks in a way but I feel less risky and more upside potential. Not a replacement for gold/silver or even cash. But it is a another way to diversify without holding government/banker paper and it has advantages that PM's do not.