<p dir="ltr">Cyprus and the Spanish wealthy are hiding their money in btc from the EU right now, hence the $90/per.</p>
<p dir="ltr">i have a friend who just bought a house with his btc profits.. </p>
<p dir="ltr">Sent from my mobile. Please excuse the brevity, spelling, and punctuation. </p>
<div class="gmail_quote">On Mar 29, 2013 4:03 PM, "Ron Frazier (ALE)" <<a href="mailto:atllinuxenthinfo@techstarship.com">atllinuxenthinfo@techstarship.com</a>> wrote:<br type="attribution"><blockquote class="gmail_quote" style="margin:0 0 0 .8ex;border-left:1px #ccc solid;padding-left:1ex">
WOW. That's amazing.<br>
<br>
Ron<br>
<br>
<br>
dev null zero two <<a href="mailto:dev.null.02@gmail.com">dev.null.02@gmail.com</a>> wrote:<br>
<br>
>don't know anything about Litecoins but I've made over $30k from<br>
>bitcoins<br>
>that I mined back in like 09. currency exchange is a bitch. and I sold<br>
>the<br>
>bulk of mine at ~$20/btc, I can't imagine if I had waited til now at<br>
>$90/btc...<br>
><br>
><br>
>On Fri, Mar 29, 2013 at 3:18 PM, Ron Frazier (ALE) <<br>
><a href="mailto:atllinuxenthinfo@techstarship.com">atllinuxenthinfo@techstarship.com</a>> wrote:<br>
><br>
>> Hi all,<br>
>><br>
>> Does anyone here have any personal knowledge of Bitcoin or Litecoin?<br>
>><br>
>> If you don't know what that is, see:<br>
>><br>
>> <a href="http://en.wikipedia.org/wiki/Bitcoin" target="_blank">http://en.wikipedia.org/wiki/Bitcoin</a><br>
>> <a href="http://en.wikipedia.org/wiki/Digital_currency" target="_blank">http://en.wikipedia.org/wiki/Digital_currency</a><br>
>><br>
>> By the way, the treasury department recently issued a ruling that<br>
>this is<br>
>> legal. So that's not an issue.<br>
>><br>
>> Essentially, it's a digital currency that is created by having your<br>
>> computer do a certain amount of provable, not easily fakeable, work<br>
>in<br>
>> calculating cryptographic algorithms. After a certain amount of<br>
>time,<br>
>> which may be days or months, you solve a certain cryptographic<br>
>problem.<br>
>> Your work is verified, then you get some digital currency, either<br>
>> Bitcoins, or Litecoins. These are digital encrypted files that only<br>
>you<br>
>> possess. These can be traded for real USD on certain exchanges, and<br>
>in<br>
>> some cases, can be traded directly for merchandise.<br>
>><br>
>> You can use Bitcoins and Litecoins without creating them by buying<br>
>and<br>
>> selling them on the exchanges.<br>
>><br>
>> However, I'm interested in mining (creating) Bitcoins or Litecoins<br>
>using<br>
>> my computer and its GPU.<br>
>><br>
>> Here is my understanding from my reading.<br>
>><br>
>> Bitcoins are currently trading for about $ 80 / BTC. They are very<br>
>hard<br>
>> to create, and may take months. It is doubtful whether you can make<br>
>more<br>
>> than the electricity costs, unless the BTC increase in value later.<br>
>They<br>
>> have increased in value from about $ 1 a few years ago, to $ 80 now.<br>
>> However, the mining / coin creation algorithm continually gets<br>
>harder to<br>
>> keep the rate of coin production constant. Apparently, application<br>
>> specific integrated circuits (ASIC's) will shortly com onto the<br>
>market<br>
>> which will make doing this work with CPU / GPU nearly impossible.<br>
>><br>
>> Litecoins are designed similarly. However, they use an algorithm<br>
>which is<br>
>> more conducive to CPU / GPU computations and harder to do, for<br>
>example, on<br>
>> an ASIC. This makes them, at least at the moment, more feasible to<br>
>be<br>
>> mined by individuals without tens of thousands of dollars of<br>
>equipment and<br>
>> without a $ 1000 / month electric bill. Litecoins are trading at<br>
>around $<br>
>> 1 / LTC.<br>
>><br>
>> So, I'm considering doing some Litecoin mining. I'm wondering if<br>
>anyone<br>
>> has tried it or knows anything about it.<br>
>><br>
>> Sincerely,<br>
>><br>
>> Ron<br>
>><br>
>><br>
>><br>
>> --<br>
>><br>
>> Sent from my Android Acer A500 tablet with bluetooth keyboard and K-9<br>
>Mail.<br>
>> Please excuse my potential brevity if I'm typing on the touch screen.<br>
>><br>
>> (PS - If you email me and don't get a quick response, you might want<br>
>to<br>
>> call on the phone. I get about 300 emails per day from alternate<br>
>energy<br>
>> mailing lists and such. I don't always see new email messages very<br>
>> quickly.)<br>
>><br>
>> Ron Frazier<br>
>> <a href="tel:770-205-9422" value="+17702059422">770-205-9422</a> (O) Leave a message.<br>
>> linuxdude AT <a href="http://techstarship.com" target="_blank">techstarship.com</a><br>
>><br>
>><br>
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>><br>
><br>
><br>
>------------------------------------------------------------------------<br>
><br>
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<br>
<br>
--<br>
<br>
Sent from my Android Acer A500 tablet with bluetooth keyboard and K-9 Mail.<br>
Please excuse my potential brevity if I'm typing on the touch screen.<br>
<br>
(PS - If you email me and don't get a quick response, you might want to<br>
call on the phone. I get about 300 emails per day from alternate energy<br>
mailing lists and such. I don't always see new email messages very quickly.)<br>
<br>
Ron Frazier<br>
<a href="tel:770-205-9422" value="+17702059422">770-205-9422</a> (O) Leave a message.<br>
linuxdude AT <a href="http://techstarship.com" target="_blank">techstarship.com</a><br>
<br>
<br>
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</blockquote></div>