Marc Andreessen’s article is detailed and from my perspective and current research absolutely spot on. I have been hovering on the fence with my gut and intellectual insight and his piece has pretty much sealed the deal for me. Now I have to figure out how I can get the money together to buy my first ‘bitcoin miner’ and pay for the initial production costs, including hiring a programmer and paying for the start-up production overhead.
A freind of mine I pinged last week in an email with links and details outlining the current challenges of bitcoin mining wrote back:
“…between $770 & $1100 each???????”
“That is the figure, seems to be stabilizing a little at this point, not something I follow obsessively, that road leads to madness.
Long term, I am guessing that bitcoins value will continue to increase over time, as the difficulty curve on ‘mining’ the bitcoin is and will continue to increase exponentially. I foresee that bitcoin, as the grandaddy of the future cryptocurrencies will continue to gain value over time, and will become an excellent hedge.
That being said, jumping into a tank of water filled with sharks while bleeding from a fresh wound has never been an act of common sense, but when I say I am a brilliant researcher I am not engaging in hyperbole.
All my bells are going off on this, and I know that down the road I am going to regret not having done what I can to get into the bitcoin game, the window is still open, but starting to close fast. ~ lol” ~ Tarky7
Marc Andreessen 1-21-14:
“The practical consequence of solving this problem is that Bitcoin gives us, for the first time, a way for one Internet user to transfer a unique piece of digital property to another Internet user, such that the transfer is guaranteed to be safe and secure, everyone knows that the transfer has taken place, and nobody can challenge the legitimacy of the transfer. The consequences of this breakthrough are hard to overstate.”
“Bitcoin is a digital bearer instrument. It is a way to exchange money or assets between parties with no pre-existing trust: A string of numbers is sent over email or text message in the simplest case. The sender doesn’t need to know or trust the receiver or vice versa. Related, there are no chargebacks – this is the part that is literally like cash – if you have the money or the asset, you can pay with it; if you don’t, you can’t. This is brand new. This has never existed in digital form before.” ~Marc Andreessen
Why Bitcoin Matters NYTimes by Marc Andreessen 1-21-14
“How should we think about a currency like Bitcoin? The first thing to remember is this: Money is a sort of collective fiction. What money we choose to trust says much about how we see the world.” ~ Quentin Hardy
Bits | Bitcoin and the Fictions of Money 1-27-14
So far almost all of the Bitcoin discussion has been positive economics — can this actually work? And I have to say that I’m still deeply unconvinced. To be successful, money must be both a medium of exchange and a reasonably stable store of value. And it remains completely unclear why BitCoin should be a stable store of value.” ~ Paul Krugman
Bitcoin Is Evil ~ Paul Krugman December 28, 2013, 2:35 pm
Want to make money mining bitcoins? Criminals have you beat By David Gewirtz
ZDNet Government | January 21, 2014
Bitcoin mining profitability calculator
MANIC MINERS: Ten Bitcoin generating machines
Crank out those coins: A selection of tools for the new Gold Rush
By Simon Rockman, 17th January 2014
A Group Of Miners Has Exposed One Of Bitcoin’s Fatal Flaws
Rob Wile Jan. 10, 2014, 9:11
The existential threat to bitcoin its boosters said was impossible is now at hand
By Christopher Mims @mims January 9, 2014
Bitcoin’s so over. We’re mining Primeco… Oh SNAP, my box is a ZOMBIE! 1-17-14
The Bitcoin-Mining Arms Race Heats Up
By Ashlee Vance and Brad Stone January 09, 2014
Interactive Demonstration: This Is How You Mine Some Bitcoin 1-13-14
Topic: KnC Miner list of orders – Neptune
Bitcoin Mining Reaches New Level With $2,000-a-Day Neptune Rig [VIDEO]
Hands On With The KnCMiner Jupiter, The Massive BTC Mining Rig That Can Move Markets Dec 12, 2013 by John Biggs
Will the 3TH KNC Neptune Miner still be profitable in 2014?
Bitcoin’s Fatal Flaw
Published Wed, Jan 15th, 2014 Louis Basenese, Chief Investment Strategist
“btc guild” Reddit Search
(Related to ‘A Group Of Miners Has Exposed One Of Bitcoin’s Fatal Flaws)
Bitcoin is an innovative payment network and a new kind of money.
We’ve got a Butterfly Labs Bitcoin miner, and it’s pretty darn fast – ars Technica May 8 2013
Bitcoincharts provides financial and technical data related to the Bitcoin network.
Bitcoin network graphs – Total network hashing rate
Trade with confidence on the world’s largest Bitcoin exchange!
The Bitcoin Boom April 2, 2013
Butterfly Labs ships 45,000 bitcoin orders
Published On :Wed, Jan 15,2014
BFL Competence Reaches a New High
bitcoin miners pcs new chips (Google Shopping)