You're not going to make much with GPU's now - the complexity is too high unless you've a rack full - ASIC processors are landing and will raise the bar a *lot*. Probably best off trading coins/cash now.
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You're not going to make much with GPU's now - the complexity is too high unless you've a rack full - ASIC processors are landing and will raise the bar a *lot*. Probably best off trading coins/cash now.
I paid off several high-end GPUs in 30-60 days by mining last year.
Difficulty is much higher now because of FPGAs and now ASICs which are starting to hit. Still, because of the high price, mining on GPUs can still be profitable, depending on electricity costs (I pay $0.09 per kWH in upstate New York) even if their glory days are long gone.
Crypto mining is the main reason why 5xxx and 6xxx cards are still as expensive as they were on launch. An only 5970 is still one of the best hashing cards one can get.
I'm having trouble getting my money out now.
I ordered a bank transfer last week to get all my money out of mtgox and my balance went to 0.
But I just went back on mtgox and all my money is still sat in my mtgox account and none has been transferred to my bank.
Any ideas?
never mind I think I need 75 dollars first
I managed to buy some at the lower end of things - win! :D
Now to see where it goes!
You want a real kick in the spuds? After sitting on a couple of Bitcoins for a few years I decided to cash in. Hah. That'd be a corrupt wallet.dat file then.
Deep
Joy
:censored:
Hope you didn't lose too much. :(
I think it raises an interesting point though, your virtual wallet needs some sort of protection. Decent encryption is a must (and that doesn't mean multiple layers of AES-256 encryption, with 'hello' as the password), as with the increasing popularity of the currency and the amount of 'money' some people store on their systems, it's reasonable to expect malware designed to steal it, if it doesn't already exist. And as you unfortunately proved, it also needs to be backed up for all the usual reasons, and I expect ransomware could be especially problematic for e-wallets.
*notes must back up wallet onto multiple media!
Gutting :(
Butuz
Bitcoin needs more exchanges, mtgox has what, 80% of the market ?
This. I hope that the forces behind the attacks won't succeed in the long term. Basically, they try to undermine the popularity of bitcoin causing losses for the new users.
I fear that this is only the beginning. Several news sites are spreading disinformation as well.
The great news is that no one discovered fundamental flaw (or weakness) in the bitcoin protocol itself (so far).
I thought it was just a load of genuine transactions causing the problems rather than an actual DDoS, which has only been assumed as the cause by some people?
The biggest flaws seem to lie in the massive volatility of the currency and with the unsuitable infrastructure apparently used by mtgox. Get a few big investors to panic with a news story and the value drops off a cliff.
a well placed news story and someone makes a killing ;)
There is a flood of micro bids and asks (from the same person) ripping the market apart.
For example, if the last price lets say $150 (with high volume), then someone puts in bids for 0.01BTC @ 100$/BTC and the same time sell 0.01@100$/BTC, then the last price will show 100$.
There was a flood of these kind of orders timed with the DDoS. Lot of people paniced and wanted to get out immediately.
If everyone kept calm it wouldn't affect the market that much, imho.
I have been following mtgox and there were artificial fluctiations of 50-100$ when the madness started.
Edit: I cannot comprehend why mtgox cannot apply rules for trading, eg, limited frequency of bids/ asks from the same user, etc.
Surely though there would be a huge backlog of bid offers @ $100 if the price is $150?