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REPLY TO THREAD
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Subject
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ALL crypto-currency miners,,, Mt GOX suspending payments
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Original Message
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Ok all you miners, investers, hoarders
From what I get from this, Mt.Gox is suspending payments in USD for a 2 week time period to figure issues out.
(IMO either tracking or accountability as all cryptocurrencies are totally anonymous)
[link to singularityhub.com]
Bitcoin and Litecoin are the two largest and most popular "alternative" currencies now.
Litecoin Wiki
[link to en.wikipedia.org]
Bitcoin Wiki
[link to en.wikipedia.org]
As designed it is a peer to peer system using API keys and 16 bit "wallet" IDs to store, send and recieve values.
It is totally owner owned, meaning the banks nor the feds or the government has no control of the value or anything else to do with it.
As of this point Liteecoin is "worth" $2.20 USD and Bitcoin is worth around $110.00 USD.
In my true "opinion" ALL money in these "modern" times has no actual value. The value of "money" is only when people decide that it does have value,,to them and others that are willing to use it and accept the "value" assigned to it.
With the USD worth only .05c anymore, these alternative currencies" in my opinion are worthy of procuring. First thing that got my attention is that they are privately owned. Which means there is NO FED and even better no NO banks involved.
Personally I believe the Litecoin crypto-currency is the better "deal" for the average participant to get involved in.
Here is why,,, there are now specific devices designed and developed just for "mining" Bitcoin. These devices are ASICS (Application Specific Integrated Circuit). These specialized devices compute at 100 times or even thousands more than the high end video cards it was designed for. They are fairly expensive and the lead times for delivery are up to a year for some models.
[link to www.butterflylabs.com]
All this said,,, the "difficulty" of the actual mining process goes up in scheduled intervals. So this means by the time your ASICS device is delivered it may not even be profitable to run it.
The Litecoin runs on "normal" PC hardware which makes especially appealing to the average home PC owner. With AMD based CPUs and GPUs being the optimum producers.
Here is a comparison of various hardware and their approximate "hash" (computing power).
[link to github.com (secure)]
So anyway,, lets talk.
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