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Bitcoin speculation
No, I'm not about to invest in Bitcoin... just speculation on it's future.
First off, mining for Bitcoin takes lots of processors and the most efficient ones are the ones found on computer graphics cards. This has lead to a huge demand in graphics cards which makes all the gamers sad because there's none left for them. I'm not much of a gamer but my card is a little long in the tooth and I'd like something a little newer.
Second, Bitcoin mining takes power. Electrical power. For quite some time it cost more in energy to mine Bitcoin than it was worth. If you had banks of solar cells and a sunny environment it might make sense... but with Bitcoin soaring in value it must might make mining worth it.
Lastly, this has all the markings of a bubble. Although it's supposed to be a currency it's starting to look more like Beanie Babies or worse... pogs. It's too late to get on the Bitcoin wagon - it's going to burst soon. It's extremely volatile on an hour to hour basis and a large percentage of it is held by a handful of people. If just one of them cashes out for real money the whole thing will fall apart.
Pop goes the Bitcoin.
The good news will be that there'll be a lot of second hand graphics cards available when the mining becomes uneconomical again.
Just speculating.
-m
First off, mining for Bitcoin takes lots of processors and the most efficient ones are the ones found on computer graphics cards. This has lead to a huge demand in graphics cards which makes all the gamers sad because there's none left for them. I'm not much of a gamer but my card is a little long in the tooth and I'd like something a little newer.
Second, Bitcoin mining takes power. Electrical power. For quite some time it cost more in energy to mine Bitcoin than it was worth. If you had banks of solar cells and a sunny environment it might make sense... but with Bitcoin soaring in value it must might make mining worth it.
Lastly, this has all the markings of a bubble. Although it's supposed to be a currency it's starting to look more like Beanie Babies or worse... pogs. It's too late to get on the Bitcoin wagon - it's going to burst soon. It's extremely volatile on an hour to hour basis and a large percentage of it is held by a handful of people. If just one of them cashes out for real money the whole thing will fall apart.
Pop goes the Bitcoin.
The good news will be that there'll be a lot of second hand graphics cards available when the mining becomes uneconomical again.
Just speculating.
-m
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