The value of a bitcoin is currently $9.00, and I'll admit it feels like I'm buying tech stocks in 2000, or houses in 2007. But it's fun while it lasts!

It's fun for geeks because it makes money, and involves tweaking computer hardware and software, trying to get the most "MHash/s" which is a measure of how fast you earn bitcoins.

Besides the geek aspect, the economic aspect is interesting as well. They will mint a finite number of Bitcoins, at a set rate. If too many are created in a week, they up the "difficulty" and make it harder to earn money. But then the market value of bitcoins tends to go up a bit...

Anyhow, it's interesting. I thought I'd throw it out there. If anyone has a good gamers' video card (ATI specifically -- NVidia cards don't do so well) you might be able to earn some cash.

Matthew

So who runs and regulates them? Thats my concern. What gives it value? I believe much of the currency is backed by some sort of commodity, is it not? And I'm suspicious of having to download anything onto my computer... :scratchchin:

MD- interesting, yes, but this (from wikipedia) is the sort of thing I would see happening as well...

Proposed failure scenarios for Bitcoin include a currency devaluation, a declining user base, or a global governmental crackdown on the software. Succession to another similar cryptocurrency system is also possible, if a new one were to be created and considered to be more legitimate (e.g., backed by a large tech company or institution) or advantageous over Bitcoin in its current form (e.g., more scalable or user-friendly). It may not be possible to "ban all crypto-cash like Bitcoin."[12]
In an Irish Times investigative article Danny O'Brien reported "When I show people this Bitcoin economy, they ask: 'Is this legal?' They ask: 'Is it a con?' I imagine there are lawyers and economists struggling to answer both questions. I suspect you will be able to add lawmakers to that list shortly."

Unfortunately, the idea is great, but I don't see Zionists who have the power to illegalize/ regulate/ stop this not unfortunately.

It's very international. The main exchange between USD and bitcoins is run by a Japanese businessman. (Bitcoins were "invented" in Japan) I read on their forums that as far as his business is concerned, in trying to comply with Japanese law, bitcoins are treated as a security, not a currency.

My interest in bitcoins conflicts with my interest in frugality. While there may be a few things I can buy with bitcoins to support the system, it almost certainly won't be the lowest price for said item.  

But, if like Matt said, you are able to mine them and make a profit, it probably is very frugal.

Unfortunately, there are 2 main types of video cards and for the purposes of mining, Nvidia are about 10x less efficient than ATI cards.

I couldn't find your exact graphics card in the "list", but several that began with 9600 got between 15-19 MH/s.
That's .032 bitcoins a day, or 96 cents a day. After electricity is taken out, you have about 64 cents a day.