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Tuesday, April 23, 2013

Virtual Money, Bitcoins, and perpetual motion machines.

Dedicated computers used to "mine" virtual bitcoins are being resold $30k+ on Ebay. Wait--these are just preorders, they don't exist. So, to recap: People are spending $30k+ for the promise of a machine that lists at $1500, which will be used to extract a virtual currency. The more of these machines that are employed, the less efficient each machine functions. Currently they are supposedly generating four bitcoins a day, at $80/coin. It feels like a perpetual motion machine, and is either the coolest thing ever or the end of civilization and return to a barter economy. Also, the price of gold and Apple stock is crashing. Ebay link

the C2 wiki.

I feel like I keep returning to the same types of projects.  Right now I'm collecting, editing and publishing historical rhetoric texts ...