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Bitcoins look interesting but the current price shift caused by interest in them is disturbing. Mining on anything but a current generation AMD card isn't worth
by Guvante 14y ago
Bitcoins look interesting but the current price shift caused by interest in them is disturbing. Mining on anything but a current generation AMD card isn't worth the electricity and the advent of ASIC cards is going to make mining on any consumer hardware pointless. So you can't mine and you can't buy without exposing yourself to a lot of risk right now. Given the current bubble is based on people joining the game , that is a risky proposition for bitcoins as a whole.
- fc2 14y agoYou forget people can join the game by just accepting BTC as payment for their goods and services.
- betterunix 14y agoSince I actually pay taxes (you know, that thing adults do), I doubt that this will work for me.
- DennisP 14y agoAdults who understand taxes know that if they receive payment in something other than dollars, whether it's foreign currency, gold, bitcoins, or barter goods, it's up to them to pay taxes on the dollar value of it.
- betterunix 14y agoRight, and that is the point: even if you accept Bitcoin payments, you still need to eventually get USD. Ultimately, this is why I believe that Bitcoin cannot survive with the Bitcoin exchanges.
- BrokenPipe 14y agoRight, and that is the point: even if you accept Gold payments, you still need to eventually get Euro. Ultimately, this is why I believe that Gold cannot survive with the Gold exchanges.
- betterunix 14y agoHow many markets are using gold as currency?
- DennisP 14y agoYou don't have to get dollars for the whole amount, you just have to report the dollar value of your earnings to the IRS, and pay your taxes in dollars.
- fc2 14y agoThat's a shame. I guess you'll just have to stay poor with the rest of the patronizing adults.
- nimrody 14y agoHow do you set the value of the goods you're selling? Assuming you manage your life with some other currency (USD), you would ideally want something that has reasonable value when converted to your other currency.
- polarix 14y agoLots of risk to buy. Far more upside risk to not buy.
- tatsuke95 14y agoJust like houses in 2007, or Apple stock last year, or Tulips in 1637... Bitcoins are one asset among many, and just as prone to booms and busts.