21 May 2011

Bitcoin

Last year around July Bitcoin hit slashdot and I was intrigued. A totally virtual currency that is what you make of it and can be “mined” by anyone. I chatted on IRC with the devs and was interested, used my linode and desktop to generate some coins and then lost interest and went on my way.

Then today I see Bitcoin’s price went up to $7USD. I thought, hell, I had ~300 of these coins sitting around! But wait, I formatted my Laptop because TF2 wasn’t working and CrashPlan didn’t restore right so I lost a few things. Needless to say I was bummed.

But poking around on my other external drive I did have a backup of my old Homedir! Fired up bitcoin and I have 360.02 coins, so that would equal $2520.14 USD (if they sold at that price).

Bitcoin has my interest again, though coins are much rarer than they were when I started. Used to be you’d get 50 coins every day or so, now it’s every month if you’re lucky. So people have started BPM (Bitcoin Pooled Mining) to distribute the work per 50 coins and you get a share (so does the Pool operator for hosting).

I may try to sell a few coins and generate a few more. Maybe play my hand at some currency exchange.

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