Monthly Archives: June 2013

CryptoBadger’s custom mining rigs $76 off until 7/4

CryptoBadger's custom mining rigsI just got a shipment of riser cables in, for those of you who were interested in purchasing a custom rig from me. I’ve also decided to take $76 off the purchase price of each rig until July 4th (or until I run out of risers again!), in celebration of Independence Day here in the US!

Click here for information on purchasing one!

Techcrunch: people increasingly familiar with bitcoin; majority trust it

bitcoinTechcrunch posted an interesting article that examines the results of a recent international survey around Bitcoin. It turns out that over a quarter of the people surveyed in the US have heard of Bitcoin, and the majority of those people trust the digital currency. From the article:

So what do U.S. consumers make of Bitcoin right now? Well, according to the survey, just over a quarter (25.3%) have heard of the crypto currency — which means the U.S. is lagging the other two countries also surveyed for the poll, Argentina and the U.K. In those nations, Bitcoin awareness is apparently in the region of a third, with 37.9% and 32.2% Bitcoin-aware respondents respectively. However it’s worth flagging that the research polled far fewer consumers in Argentina and the U.K. (760 and 2,731, respectively) so the margin of error is likely to be higher.

I’m a little surprised by the results and would be interested to learn how the survey was conducted. I know that in my own circle of friends, the overwhelming majority have never heard of Bitcoin. Still, it’s encouraging to see that  awareness around cryptocurrency seems to be increasing.

Mt. Gox temporarily suspends cash withdrawls

Mt. Gox logoMt. Gox today announced that they’re temporarily suspending USD cash withdrawals, due to their existing processes being unable to adequately accommodate increasing activity. Mt. Gox expects withdrawals to be unavailable for about 2 weeks, during which time they’ll be working to increase capacity. Deposits, transfers, and withdrawal requests for currency other than USD are not affected.

Update 6/21: Mt. Gox has posted some comments about the news on their Facebook page, along with a hint about Litecoin finally hitting their exchange next month (see point #6).

Australian retailer now accepting Bitcoin and Litecoin

Gizmodo is reporting that Australian electronics retailer Millennius is now accepting both Bitcoin and Litecoin as forms of payment on its website. While quite a few global retailers have already adopted Bitcoin, Millennius believes that they’re the first to accept Litecoin.

Good news for cryptocurrency, and especially Litecoin—hopefully more retailers follow suit in the coming months.

AMD 7990 GPUs available at Amazon

Amazon has some of the new Radeon 7990 video cards available. These behemoths are essentially two 7970 GPUs on one card, but require less power than two individual 7970s. That package should make it quite a good choice for cryptocurrency mining, if you can stomach the price tag (although it currently comes with vouchers for 8 free games, which defrays the cost a bit if you choose to resell them).

Anyone tried mining with one of these yet? The speed/power consumption ratio should be comparable to a 7950 (the current king of mining), but with a huge advantage in potential GPU density.

Business Insider: Litecoin is the silver to Bitcoin’s gold

litecoin logoLitecoin is starting to get attention in mainstream news as a complementary cryptocurrency to the more established Bitcoin. Business Insider posted a short piece today describing Litecoin as the “silver to Bitcoin’s gold”.

The article is short and largely inaccurate on the technical details, but any press that raises public awareness of digital currency is probably a good thing.

Edit 6/16: Looks like Wired UK is getting aboard the Litecoin train, too.

Baby “bought” with bitcoins

CNN is reporting on a “bitcoin baby” born to a couple that paid for their fertility treatment services with bitcoins:

[Dr. Lee, a fertility specialist] broached the subject with a few of his clients. If he offered a big discount, he asked, would they consider paying him with bitcoins?

 

“In some cases they reacted like I said I wanted to be paid in vials of crack cocaine,” he recalled.

 

Eventually, though, a few agreed to try it out. And then he hit the jackpot: A couple whom he helped conceive three previous babies came back to try for number four.

 

“They said, ‘Dr. Lee, we don’t understand this Bitcoin thing,’ but bless their hearts, they were willing to play along out of loyalty,” he said. “I offered them a 50% discount.”

Beware of fake Mt. Gox phishing sites

BTCRecently, a host of phishing sites that spoof the look of Mt. Gox have been showing up in ads from major advertising providers. The operators of these scam sites aim to trick visitors into downloading malware which enables them to steal your Mt. Gox login credentials, so they can then pilfer your account.

Nelp Net Security has some more information, including this snippet:

The fake pages were set up on domains that resembled Mt. Gox’s legitimate one (mtgox.com), such as mtgox.org, mtgox.co.uk, mtgox.net, and others. Also, the criminals have done a good job promoting the phishing site via ads (“New Century Gold: BITCOIN Protect your money – Buy Bitcoin”) served by several major online advertising services.

As always, whenever you visit a financial site (or any website dealing in sensitive information), make certain that the URL in your browser bar matches the one that you intended to visit.

CryptoBadger’s custom mining rigs for sale!

Several of you have contacted me to ask about buying pre-assembled mining rigs over the past couple months. Some people don’t have the time and/or confidence to build their own, and would rather buy something that they can just plug in and have work so they can get into mining without the potential installation headaches.

Up until today, I’ve been telling people that I’m not in the business of selling mining rigs. After doing a bit of research on the options available for people that want to buy a pre-built mining rigs (it’s not pretty: expensive and underperforming 7970-based rigs, rigs that require external cooling, rigs that use ridiculous amounts of power, etc), I’ve decided to give it a try and see how it goes.

I expect the vast majority of you will be better served by reading my guide on how to build your own rig. But for those of you with more money than time and/or extreme technophobia, you’re welcome to take a look at what I’m offering.

What’s the long-term value of Bitcoin?

Techcrunch has an interesting article up about the potential future value of Bitcoin. Given that there will only ever be at most 21 million bitcoins in circulation, it’s a trivial exercise to calculate how much each coin will be worth, given some assumptions around which markets Bitcoin manages to capture.

The article includes an interactive calculator that lets you plug in your own values, although I would have liked to see some more options (where is the option for the internet/ecommerce market—where bitcoin has already arguably made the most progress)?