[Discuss] I believe bitcoins [1] (and bitcoin mining) are now officially "jumping the shark" [2]

[effigies at riseup.net (Chris Johnson)]

On 01/30/2014 11:51 AM, Ted Roche wrote:
> On Thu, Jan 30, 2014 at 11:42 AM, Bill Bogstad <bogstad at pobox.com> wrote:
> 
>> NewEgg is offering a hardware combo deal targeted directly towards bitcoin
>> mining.
> 
> 
> At 1.2 KW and 80% power supply efficiency, I don't think it's the least
> expensive, but that could make a decent space heater for the back office.
> 
> I wonder what the payback is on a $2100 unit to create bitcoins.
> 
> Depending, of course, on when the bubble bursts.

I looked into it a few months back out of curiosity. As I understand it,
you're not even going to recover the cost of energy used to produce
bitcoins, leaving aside any upfront costs.

I'd have to dig a bit to find my sources, though, so take that with a
grain of salt.