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Is there a cable that will allow me to record the SPDIF signal of my sound card (the OUT jack is an RCA phono plug) into my Minidisc recorder (whose IN jack takes an optical cable)?

Does anybody here know of a program that can "loop record?" I need a program that will allow you to CONTINUOUSLY record new audio over a looping track WITHOUT erasing the old data and without forcing you to stop recording in order to select "the good take" I just want keep on piling things on...