Bitcoin Forum

Bitcoin => Bitcoin Discussion => Topic started by: JeffK on August 12, 2011, 09:41:38 PM



Title: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: JeffK on August 12, 2011, 09:41:38 PM
I am proposing a new system that I am calling GreenGold - it is a simple system with guaranteed returns, and it works like this:

Step 1: Go into the room where your mining rigs are and shut them and any associated HVAC systems off.
Step 2: Go outside and play
Step 3: At the end of the month, compare your power bills. The difference between the amounts are your 'GreenGold earnings'.
Step 4: Use the money earned to buy real gold coins, which have a higher stability than Bitcoins!


Pros:
-Increased physical activity and sun exposure will make you more attractive!
-Discussing how you sliced your energy consumption to 25-50% is more interesting to strangers than sperging out about cryptocurrencies.


Cons:
-You can't play "pretend IT professional"
-You can't buy drugs semi-anonymously over the internet for way over street value
-Girls who previously thought you odd and repulsive may give you extra attention, decreasing the time you have to watch your favorite animes



any comments/improvements welcome!


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: enmaku on August 12, 2011, 09:44:23 PM
any comments/improvements welcome!

I somehow doubt that the kind of comments you're going to get on that post will be "welcome"  ;)


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Oldminer on August 12, 2011, 09:46:10 PM
Yea isnt this like trying to start a 'fitness' thread on a 'croche' forum?


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: nelisky on August 12, 2011, 09:46:16 PM
Yeah, right. Then YOU get to mine all by yourself :)

You know where you can stick the GreenGold, don't you? hehe


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Nesetalis on August 12, 2011, 09:50:22 PM
With the title of "modest proposal" I was expecting suggestions of eating each other... but in either case. I have an alternative.

1) Setup a bitcoin miner using solar power.
2) Go outside.
3) Start a garden.
4) Use solar panels to shade your low light plants.
5) ????
6) Profit.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: JeffK on August 12, 2011, 09:56:25 PM
Yeah, right. Then YOU get to mine all by yourself :)

You know where you can stick the GreenGold, don't you? hehe

At least my project idea has guaranteed returns on money and substantially better odds for getting users laid.

If, however, you can devise for us a system which promises me gold, companionship of women, AND a puppy, I will gladly hear you out.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Anonymous on August 12, 2011, 09:59:26 PM
On the one hand, this is such an obvious troll. On the other hand, it technically would have better returns than bitcoin mining. I'm amazed that people still mine as much as they do, the real money is in transactions that involve bitcoins, miners are out thousands on mining rigs and I can't imagine how much electricity for what are essentially very small returns.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: nmat on August 12, 2011, 09:59:54 PM
Well, can't I just buy girls with bitcoins?


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: JeffK on August 12, 2011, 10:00:49 PM
On the one hand, this is such an obvious troll. On the other hand, it technically would have better returns than bitcoin mining. I'm amazed that people still mine as much as they do, the real money is in transactions that involve bitcoins, miners are out thousands on mining rigs and I can't imagine how much electricity for what are essentially very small returns.

I am not trolling, Vitamin D deficiency is bad for your health


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Anonymous on August 12, 2011, 10:03:00 PM
Of course you're trolling. That doesn't mean you're wrong.

But being right and trolling at the same time is a great skill, we can't all be 1337 like you. ;)


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 12, 2011, 10:06:53 PM
I am proposing a new system that I am calling GreenGold - it is a simple system with guaranteed returns, and it works like this:

Step 1: Go into the room where your mining rigs are and shut them and any associated HVAC systems off.
Step 2: Go outside and play
Step 3: At the end of the month, compare your power bills. The difference between the amounts are your 'GreenGold earnings'.
Step 4: Use the money earned to buy real gold coins, which have a higher stability than Bitcoins!


Pros:
-Increased physical activity and sun exposure will make you more attractive!
-Discussing how you sliced your energy consumption to 25-50% is more interesting to strangers than sperging out about cryptocurrencies.


Cons:
-You can't play "pretend IT professional"
-You can't buy drugs semi-anonymously over the internet for way over street value
-Girls who previously thought you odd and repulsive may give you extra attention, decreasing the time you have to watch your favorite animes



any comments/improvements welcome!


Your argument is fallacious because comparing the difference between electric bills doesn't account for the value of Bitcoins generated during that time.   If the value of Bitcoins generated during that time is > than 'greengold' earnings, then you're sacrificing profit.  Not only that, but I don't see how you 'earn' anything by not spending money on electricity.  That's like saying I 'earned" $5 today cause I haven't bought my pack of cigs yet.

Edit:  Smoking and mining are equally addicting.
Edit 2:  Value of Bitcoins generated will always be > 'greengold' earnings unless you're a moron.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: nelisky on August 12, 2011, 10:09:33 PM
Yeah, right. Then YOU get to mine all by yourself :)

You know where you can stick the GreenGold, don't you? hehe

At least my project idea has guaranteed returns on money and substantially better odds for getting users laid.

If, however, you can devise for us a system which promises me gold, companionship of women, AND a puppy, I will gladly hear you out.

Sure; mine a lot, but be a real IT guy that doesn't need to babysit the machines (or be a real businessman that gets others to do that for you). With the profit, buy gold, women and puppies!

I mine, and I must say I get more sunlight now than before, as I feel an urge to run out of the house every time someone passes my front door, you know, to brag tell them about bitcoins :)


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Nesetalis on August 12, 2011, 10:10:06 PM
not to mention, mining bitcoins doesn't require you being at your computer. There is nothing keeping me from going outside anyway... SO in that case, I can make profit AND go outside :p


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 12, 2011, 10:12:10 PM
I actually had a lady friend over the other day who was quite interested in seeing my Bitcoin setup, and an ex-girlfriend wanted me to take her out to dinner with my Bitcoin profits.

2 weeks of Bitcoin trading (on average) will buy me a puppy.  Money will get you laid.  1 Bitcoin can buy many condoms.  I also mine for g-spots, and I guarantee I'm in way better shape than you.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Anonymous on August 12, 2011, 10:14:03 PM
I understand that good miners don't lose money to electricity, but how thin are the margins, and how does it stand up when you compare it to hardware costs?

Serious question here, I'm a vendor, not a miner.

(Also, all the miners in this thread should check out BitGems in the Goods forum if they want to see the kind of mining I DO know about :) )


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: geek-trader on August 12, 2011, 10:14:18 PM
not to mention, mining bitcoins doesn't require you being at your computer. There is nothing keeping me from going outside anyway... SO in that case, I can make profit AND go outside :p

Exactly.  If something does go wrong, I get a SMS.

So, I get to mine AND go outside with my wife and dog.  I'm living the good life, I tell ya.  ;D


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 12, 2011, 10:21:12 PM
I understand that good miners don't lose money to electricity, but how thin are the margins, and how does it stand up when you compare it to hardware costs?

Serious question here, I'm a vendor, not a miner.

(Also, all the miners in this thread should check out BitGems in the Goods forum if they want to see the kind of mining I DO know about :) )

I have free electricity  ;D


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Anonymous on August 12, 2011, 10:24:59 PM
How does that work?


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 12, 2011, 10:27:00 PM
How does that work?

I rent out a room in a house (3-4 other people do the same....I say 3-4 cause one just moved out and one will be moving in).  Landlord pays all utilities.   My assumption is the house is already paid off and he's totally banking on renting out the place, so the utility factor doesn't matter.



Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Anonymous on August 12, 2011, 10:50:17 PM
That's a brilliant setup for you! I have to admit I'm jealous.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 12, 2011, 10:52:09 PM
That's a brilliant setup for you! I have to admit I'm jealous.

I actually just posted a thread in 'services' seeing if anyone wants to cut their electric bill by 60% to run their rig at my place  ;D


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: buttcoin on August 12, 2011, 10:52:50 PM
That's GOLD Jerry, GOLD!

http://i.imgur.com/T34MX.jpg


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 12, 2011, 11:03:53 PM
What are these "ladies" you speak of?  And what is this "sun light"?

rofl...

**Be careful alternate unsafe "mining" operations could cost you 18+ years of expenses ... Bitcoin mining is way more profitable lol

I emit my own photons  ;D  And I bask in their glory.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: KeyserSoze on August 12, 2011, 11:18:11 PM
Not only that, but I don't see how you 'earn' anything by not spending money on electricity.  That's like saying I 'earned" $5 today cause I haven't bought my pack of cigs yet.
Edit:  Smoking and mining are equally addicting.
Edit 2:  Value of Bitcoins generated will always be > 'greengold' earnings unless you're a moron.

This probably isn't the only thing you and Ben Franklin don't agree on...
"A penny saved is a penny earned"

Perhaps this is why you don't see how not spending is the same as earning:
http://www.ncbi.nlm.nih.gov/pubmed/15561450


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Nesetalis on August 12, 2011, 11:21:40 PM
a penny saved isnt a penny earned, a penny saved is a penny saved.. getting a good deal vs a bad deal, i'm still spending money :p


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: JeffK on August 12, 2011, 11:24:18 PM
not to mention, mining bitcoins doesn't require you being at your computer. There is nothing keeping me from going outside anyway... SO in that case, I can make profit AND go outside :p

I was under the impression that Bitcoin mining also required sitting at a computer with a browser trying to pump-and-dump by promoting Bitcoin across the internet, and/or dedicating 6+ hours a day to scheming in the Project Development subforum on how to capitalize on the influx of new users that have yet to come, so that bitcoin mining retains profitability and Bitcoins retain value. My mistake, I am not separating the casual miners from the forum 'businessmen' and theorycrafters (although I'm sure their is an overlap)


a penny saved isnt a penny earned, a penny saved is a penny saved.. getting a good deal vs a bad deal, i'm still spending money :p

It is if whatever you are mining for is highly volatile and not a guaranteed return on your investment,


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Anonymous on August 12, 2011, 11:32:35 PM
Will GreenGold have a booth at BitCon?


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 12, 2011, 11:39:42 PM
Not only that, but I don't see how you 'earn' anything by not spending money on electricity.  That's like saying I 'earned" $5 today cause I haven't bought my pack of cigs yet.
Edit:  Smoking and mining are equally addicting.
Edit 2:  Value of Bitcoins generated will always be > 'greengold' earnings unless you're a moron.

This probably isn't the only thing you and Ben Franklin don't agree on...
"A penny saved is a penny earned"

Perhaps this is why you don't see how not spending is the same as earning:
http://www.ncbi.nlm.nih.gov/pubmed/15561450

A penny saved is not a penny earned....a penny saved is a penny saved, and a penny earned is a penny earned.

I don't really care about the IQ thing.  I could throw my stanford binet score into the discussion and you wouldn't care either, so it's moot.  Besides, it's a fallacy to apply the results of that study to my individual circumstance.  So...perhaps not?


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Phinnaeus Gage on August 13, 2011, 02:36:43 AM
Yea isnt this like trying to start a 'fitness' thread on a 'croche' forum?

Thanks a lot, Oldminer! Now I can't get this image out of my head of a crocheted bikini bearing the Bitcoin logo:

http://72.167.41.109/images/swimsuit-twopiece-l2-9411orange.gif


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Phinnaeus Gage on August 13, 2011, 02:50:42 AM
How does that work?

I rent out a room in a house (3-4 other people do the same....I say 3-4 cause one just moved out and one will be moving in).  Landlord pays all utilities.   My assumption is the house is already paid off and he's totally banking on renting out the place, so the utility factor doesn't matter.


Do you realize how many places there are for rent in the US with all the utilities included? At first glance, the rent may seem a tad high, but if you factor in free electric to run a large rig, WOW!

http://chicago.craigslist.org/search/hhh?query=%22electric+included%22&srchType=A&minAsk=&maxAsk=&bedrooms=

http://chicago.craigslist.org/search/hhh?query=%22electric+included%22&srchType=A&minAsk=&maxAsk=&bedrooms=


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: dime on August 13, 2011, 02:52:20 AM
How does that work?

I rent out a room in a house (3-4 other people do the same....I say 3-4 cause one just moved out and one will be moving in).  Landlord pays all utilities.   My assumption is the house is already paid off and he's totally banking on renting out the place, so the utility factor doesn't matter.



Then you don't get free utilities. Your cost of electricity is factored into your rent. You're either:
1. getting a sneaky discount from your landlord by turning $x of his utility bill into y btcs.
2. stealing from your roommates (as your landlord will factor in average utility into next year's rent payments and 3-4 other people will be paying a slightly higher rent for your usage).

Either way, it can't be both sustainable and honest. There's a limit to how much you can mine before your landlord realizes there's something fishy going on. Or your roommates.

I can go out and try the same thing. I can go rent an efficiency for $400 with "free" utilities. But will I be able to mine $400 worth of utilities? Fuck no.

This only works for you because your mining operation is low level enough to be able to hide among your roommates and not attract attention while you already pay to live there.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Phinnaeus Gage on August 13, 2011, 02:55:55 AM
How does that work?

I rent out a room in a house (3-4 other people do the same....I say 3-4 cause one just moved out and one will be moving in).  Landlord pays all utilities.   My assumption is the house is already paid off and he's totally banking on renting out the place, so the utility factor doesn't matter.



Then you don't get free utilities. Your cost of electricity is factored into your rent. You're either:
1. getting a sneaky discount from your landlord by turning $x of his utility bill into y btcs.
2. stealing from your roommates (as your landlord will factor in average utility into next year's rent payments and 3-4 other people will be paying a slightly higher rent for your usage).

Either way, it can't be both sustainable and honest. There's a limit to how much you can mine before your landlord realizes there's something fishy going on. Or your roommates.

I can go out and try the same thing. I can go rent an efficiency for $400 with "free" utilities. But will I be able to mine $400 worth of utilities? Fuck no.

This only works for you because your mining operation is low level enough to be able to hide among your roommates and not attract attention while you already pay to live there.

Then you move the following year. Where there's a rig, there's a way.



...and free electric? @ Tom's TV Park


http://tomsrvpark.webs.com/P4110313.JPG


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: flyswatta on August 13, 2011, 03:24:41 AM
Haha, I bet it's cheaper to rent an RV with free electric than to run a mining operation out of the house.  ;)  Redneck Data Center, here I come!


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Phinnaeus Gage on August 13, 2011, 04:07:10 AM
Haha, I bet it's cheaper to rent an RV with free electric than to run a mining operation out of the house.  ;)  Redneck Data Center, here I come!

You work fast, flyswatta! From idea conception to fruition at hash speed:


Redneck Data Center


http://www.geekologie.com/2008/07/11/redneck-1.jpg




Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: FlipPro on August 13, 2011, 04:18:13 AM
Thank you JeffK for proving yourself to be a troll each and every day!  ;D


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: the joint on August 13, 2011, 04:46:44 AM
How does that work?

I rent out a room in a house (3-4 other people do the same....I say 3-4 cause one just moved out and one will be moving in).  Landlord pays all utilities.   My assumption is the house is already paid off and he's totally banking on renting out the place, so the utility factor doesn't matter.



Then you don't get free utilities. Your cost of electricity is factored into your rent. You're either:
1. getting a sneaky discount from your landlord by turning $x of his utility bill into y btcs.
2. stealing from your roommates (as your landlord will factor in average utility into next year's rent payments and 3-4 other people will be paying a slightly higher rent for your usage).

Either way, it can't be both sustainable and honest. There's a limit to how much you can mine before your landlord realizes there's something fishy going on. Or your roommates.

I can go out and try the same thing. I can go rent an efficiency for $400 with "free" utilities. But will I be able to mine $400 worth of utilities? Fuck no.

This only works for you because your mining operation is low level enough to be able to hide among your roommates and not attract attention while you already pay to live there.

Lol factored into my $475/mo rent?  Have you even checked out how nice downtown Naperville, IL is?

Edit:  To give you an idea, the BP national headquarters is 1.5 miles from my house.


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: flyswatta on August 13, 2011, 12:22:25 PM
Haha, I bet it's cheaper to rent an RV with free electric than to run a mining operation out of the house.  ;)  Redneck Data Center, here I come!

You work fast, flyswatta! From idea conception to fruition at hash speed:


Redneck Data Center


http://www.geekologie.com/2008/07/11/redneck-1.jpg



Nice - I especially like the amenities: fishing pond, storage facility, tiled seating area and a security light :)


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Phinnaeus Gage on August 13, 2011, 01:51:01 PM
How does that work?

I rent out a room in a house (3-4 other people do the same....I say 3-4 cause one just moved out and one will be moving in).  Landlord pays all utilities.   My assumption is the house is already paid off and he's totally banking on renting out the place, so the utility factor doesn't matter.



Then you don't get free utilities. Your cost of electricity is factored into your rent. You're either:
1. getting a sneaky discount from your landlord by turning $x of his utility bill into y btcs.
2. stealing from your roommates (as your landlord will factor in average utility into next year's rent payments and 3-4 other people will be paying a slightly higher rent for your usage).

Either way, it can't be both sustainable and honest. There's a limit to how much you can mine before your landlord realizes there's something fishy going on. Or your roommates.

I can go out and try the same thing. I can go rent an efficiency for $400 with "free" utilities. But will I be able to mine $400 worth of utilities? Fuck no.

This only works for you because your mining operation is low level enough to be able to hide among your roommates and not attract attention while you already pay to live there.

Lol factored into my $475/mo rent?  Have you even checked out how nice downtown Naperville, IL is?

Edit:  To give you an idea, the BP national headquarters is 1.5 miles from my house.

Once a month, I shop at the Country Fresh Market. I'm about 30 miles due west. Hints: The town is named after something you eat & A Fair City!


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: indicasteve on August 13, 2011, 02:40:57 PM
Quote
Once a month, I shop at the Country Fresh Market. I'm about 30 miles due west. Hints: The town is named after something you eat & A Fair City!

Is that the place on East Church St by the animal hospital?...idk...just taking a stab in the dark.  :)


Title: Re: GreenGold - a modest proposal for miners with guaranteed returns!
Post by: Phinnaeus Gage on August 14, 2011, 03:06:56 AM
Quote
Once a month, I shop at the Country Fresh Market. I'm about 30 miles due west. Hints: The town is named after something you eat & A Fair City!

Is that the place on East Church St by the animal hospital?...idk...just taking a stab in the dark.  :)

Did you opt to use the animal hospital as your guess because my real name is Bruno? I'm two blocks from the Fairgrounds and I don't drive a red F250 with a big dent in the bed (driver's side).