Silk Road forums

Discussion => Silk Road discussion => Topic started by: gestaltassault on September 15, 2012, 03:29 am

Title: Dollars on SR
Post by: gestaltassault on September 15, 2012, 03:29 am
So I have my SR account set to display dollars. Yesterday I remember having $3.70 something in my account. Today I checked and I have $3.95. I'm not mining so I'm assuming my account is rising with the price of bitcoins...that's pretty cool...
Title: Re: Dollars on SR
Post by: farmer1 on September 15, 2012, 04:17 am
Very cool.  :)
Title: Re: Dollars on SR
Post by: Multimineral on September 15, 2012, 05:07 am
Yep.  Your account has a set amount of BTC, and the value of BTC in dollars is always varying.  So the dollar amount will fluctuate when displayed.
Title: Re: Dollars on SR
Post by: gestaltassault on September 15, 2012, 06:10 am
finally an economy that's doing well!!
Title: Re: Dollars on SR
Post by: HardHustle on September 15, 2012, 07:09 am
finally an economy that's doing well!!

Heh yeah....stick around another few weeks. You'll learn.


Also fuck the little "dollar" system on SR. It's nowhere near accurate. Just use btc and go off the mtgox last price.
Title: Re: Dollars on SR
Post by: tpebop on September 15, 2012, 07:58 am
Yes thanks to Obama, the fed and QE3 our bitcoins are now worth more dollars as dollars have just lost value.
Title: Re: Dollars on SR
Post by: gestaltassault on September 15, 2012, 08:52 am
oh i know...i predict the value of the BTC is gonna plummet around late october of this year to nearly half of what their worth today because of the jalapeno...
Title: Re: Dollars on SR
Post by: Multimineral on September 15, 2012, 05:51 pm
oh i know...i predict the value of the BTC is gonna plummet around late october of this year to nearly half of what their worth today because of the jalapeno...

Jalapeno?
Title: Re: Dollars on SR
Post by: thor on September 15, 2012, 06:01 pm
finally an economy that's doing well!!

Heh yeah....stick around another few weeks. You'll learn.


Also fuck the little "dollar" system on SR. It's nowhere near accurate. Just use btc and go off the mtgox last price.

It's perfect the way it is. BTC value would get fucked up if SR did that.
Title: Re: Dollars on SR
Post by: oban18 on September 16, 2012, 01:29 am
oh i know...i predict the value of the BTC is gonna plummet around late october of this year to nearly half of what their worth today because of the jalapeno...

Jalapeno?

Butterfly Labs Jalapeno... it's an ASIC card tuned specifically for bitcoin mining.

On my pool right now (bitclockers) the fastest miner hashes at about 40 GH/second - it'd probably cost you about $30K to put together a few rigs to hash that fast.

The Jalapeno plugs into a USB port, hashes at 7.5 GH/second and costs $159.00.  Their single SC hashes at 40 GH/second and costs $1299.00. 

At current prices, if you bought a single SC and ran it for about 2 weeks, you'd make your $1299.00 investment back.

Smart money is on once these trickle into the markets in October/November, bitcoin miners are going to be hashing blocks faster, increasing the amount of coins flooding into the market. That's why GestaltAssault says the value of BTC will drop.

Keep in mind this is temporary... at the end of the year, miners will only get 25 bitcoins for solving a block, unlike the 50 BTC they currently get.  So even though miners will be solving blocks faster, there will be less payoff from it and prices will res-tabilize.
Title: Re: Dollars on SR
Post by: Multimineral on September 16, 2012, 03:53 am
oh i know...i predict the value of the BTC is gonna plummet around late october of this year to nearly half of what their worth today because of the jalapeno...

Jalapeno?

Butterfly Labs Jalapeno... it's an ASIC card tuned specifically for bitcoin mining.

On my pool right now (bitclockers) the fastest miner hashes at about 40 GH/second - it'd probably cost you about $30K to put together a few rigs to hash that fast.

The Jalapeno plugs into a USB port, hashes at 7.5 GH/second and costs $159.00.  Their single SC hashes at 40 GH/second and costs $1299.00. 

At current prices, if you bought a single SC and ran it for about 2 weeks, you'd make your $1299.00 investment back.

Smart money is on once these trickle into the markets in October/November, bitcoin miners are going to be hashing blocks faster, increasing the amount of coins flooding into the market. That's why GestaltAssault says the value of BTC will drop.

Keep in mind this is temporary... at the end of the year, miners will only get 25 bitcoins for solving a block, unlike the 50 BTC they currently get.  So even though miners will be solving blocks faster, there will be less payoff from it and prices will res-tabilize.

Whoa.  I'm not very knowledgeable when it comes to bitcoin mining.  I guess I thought it was something that was too complicated to even bother with, but this makes it seem so simple.  I thought the payoff for mining was low too.
Title: Re: Dollars on SR
Post by: gestaltassault on September 16, 2012, 04:03 am
oh i know...i predict the value of the BTC is gonna plummet around late october of this year to nearly half of what their worth today because of the jalapeno...

Jalapeno?

Butterfly Labs Jalapeno... it's an ASIC card tuned specifically for bitcoin mining.

On my pool right now (bitclockers) the fastest miner hashes at about 40 GH/second - it'd probably cost you about $30K to put together a few rigs to hash that fast.

The Jalapeno plugs into a USB port, hashes at 7.5 GH/second and costs $159.00.  Their single SC hashes at 40 GH/second and costs $1299.00. 

At current prices, if you bought a single SC and ran it for about 2 weeks, you'd make your $1299.00 investment back.

Smart money is on once these trickle into the markets in October/November, bitcoin miners are going to be hashing blocks faster, increasing the amount of coins flooding into the market. That's why GestaltAssault says the value of BTC will drop.

Keep in mind this is temporary... at the end of the year, miners will only get 25 bitcoins for solving a block, unlike the 50 BTC they currently get.  So even though miners will be solving blocks faster, there will be less payoff from it and prices will res-tabilize.

Whoa.  I'm not very knowledgeable when it comes to bitcoin mining.  I guess I thought it was something that was too complicated to even bother with, but this makes it seem so simple.  I thought the payoff for mining was low too.

The payoff is relative to your computer's processing power...0.0001 BTC doesn't seem like much until it's the only thing standing in the way of you completing your order...