The return on hardware investment (excluding electricity cost) is the same for someone who buys $500 worth of mining gear, or $50,000.
Yes, but with $500 worth of rigs (or rather, rig) you wont be earning anything 'worthwhile'. With $50k of rigs (say ~30,000 mhash) you would likely be earning more from mining per month than working at a decent mid-level managerial position in a company. While both people do get their investment back in time, $500 is peanuts in the big picture. $50k is a lot, even for relatively rich people. Paying off that much hardware & gaining everything after that as pure profit after electricity is a very lucrative business. |
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Selling Mt. Gox USD again for WU or SEPA. Now $200.
Reserved to k4rn4k
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Bitcoin needs a killer product that's only available to buy in bitcoins , like oil-USD ,so the product promotion can promote bitcoin for most people a currency isn't very interesting it's what they can do with it , that is .
That already exists. Everything which can't be bought by traditional fiat currencies. Due to legal aspects people just don't advertise this very much. Correctly used, bitcoin sales are 100% untrackable to a real world identity |
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At $99.99, given the fact those cards stretch out to 310-320mhash/s you are getting huge value for your money.
Easily the best possible mining card, over 3mhash/$ (before shipping)
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Maybe PPS is good when the speed decreases and proportional scores are good when the speed increases.
You don't benefit anything from *other* pools discovering blocks faster & pushing the network 'speed' up If deepbit gets lucky tomorrow & finds 50% more blocks than normal (hence pushing up the block discovery speed significantly) your earnings at Slush or any other proportional pool are not going to go up, only deepbit members benefit from it Pure PPS on the other hand pays always the expected outcome, which is currently 50BTC per 1806098 shares submitted. There are no variance swings or luck & the size of the pool, network speed etc. is irrelevant |
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When will this pool have some good ( or even standard ) luck ? And NO, getting a 110K round after an almost 2M round that was INVALID doesn't count  2m rounds are considered standard at 1.8 million difficulty. A "typical" block will be found after 1806098 shares. Btcpool24 is quite 50/50, it has 3 longer high percentile rounds and 2 that fall in the average frame (and one very lucky at 100k shares). This pool averages out at 2.7m per round which is a bit higher than usual (overall pool luck 50% negative), but that will even out in the long term. 6 blocks is a very, very small sample. e- yes, 50% |
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This is your pool, you can do what you want with it of course, including closing it, however....
to change the payout calculation in the middle of a round, or to withhold payments in the middle of the round without disclosing these policies at the BEGINNING of the round is unethical at best or illegal at worst.
I hope the feds never take an interest in you.
Feds don't usually care about fraud cases not in the 5 digits or more. 1 block would be ~400 bucks at current prices. Plus I think they never found the last round so nothing was actually withheld. Miners chose to be in a prop. pool which only pays upon finding blocks. Hence no fraud occurred; No block was apparently found (though he did change the reward method during this round) |
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Since non-violent anarchy is not possible among humans you could say 'anarchy' as a concept is impossible.
Humans (as a wider group) can't live without social cohesion, hierarchy and power structures.
If those are lacking, the void will be overtaken instantly by the most ruthless group of people.
Somalia is a living example of a government void filled with gunmen and warlords.
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The purchase price of the phone is usually irrelevant to the total cost of ownership. They could just give the dam things away and cover their costs in the service fees like they do here
Phone sales don't work like this in most countries. USA and Canada are exceptions. In most of the world, you pay for a phone & walk out of the store. That's it. Cash in, phone out. There is no 'contract'. A phone is sold as-is & not a long term 'lease' with monthly fees. They are almost never SIM locked & people use reloadable prepaid cards. You ought to travel more to see how things work in other places.. Canada+US make up only 4% of the world population which means you have yet to see 96% |
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One scammer can get a whole month's dividends if he doesn't pay his loans back!
IMHO, that's a good spent amount to get rid of the scumbags and young billythekids. IBB is doing some good things to the community, and as good always suffer, it get hurt a bit, moneywise. But hey, it's just money! A man's honour is worth more then few dividends, or money at all. Yes, but real world honor is not bound to forum identities. A scammer can create a new account every week, spam ~50 posts to get 'trust', scam IBB & start all over again using a proxy. |
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the faster we give small short term loans, the more chances we can get gratuity
You have a good business going on, hope you don't go handing out money and 'loans' to every 1-post wonder on the forums.. That will attract scammers like honey to bees. Should at least have some sort of verification. |
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So you would agree that everyone has enough self control to run an anarchist society?
Actually, there was an entire community that lived in a socialist anarchy-like environment a hundred-or-so years ago. Meaning everyone put an equal part toward living with no law and no order. I read a book on it, written by a guy named Giovanni Baldelli who wrote the book Social Anarchism, a very good read. Perhaps it would interest you. How does this community defend against a gang of outside looters/pillagers which is heavily armed and trained to kill? |
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Just spotted this conversation in #bitcoin yesterday afternoon: 17:53 < luke-jr> people should be hostile toward false religions and homosexuals, at least
17:53 < graingert> luke-jr: why homosexuals?
17:53 < luke-jr> graingert: same reason people should be hostile to serial killers
17:53 < graingert> luke-jr: because homosexuals go round killing people?
17:53 < luke-jr> worse
...
17:58 < Blitzboom> what’s worth than murder, homosexuality?
17:59 < Blitzboom> worse*
17:59 < noagendamarket> Apparently it is Blitzboom
17:59 < graingert> Blitzboom: someone who is luke-jr:gay is someone who is worse than a serial killer
17:59 < luke-jr> Blitzboom: yes
Sigh. Must be trolling, I can't believe Luke-Jr actually wrote those. |
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Will go below 10 terahash/s tomorrow guaranteed. Not just because of the storm but the low price of BTC.
When price rises it will return back up.
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You can recycle money with Tradehill or Mt. Gox. Two safest e-wallets in existence.
1. Send funds to Mt. Gox (or even better; Mine your own coins and set the payment address to either one of those sites)
2. "Withdraw" whenever you want to send to someone (use their address as the recipient)
3. Get a new disposable address each time you receive funds
You don't even need to supply your real name & address (you could even log in with a proxy) as long as you don't request a wire transfer.
All "trails" lead to either site & not to your identity.
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Wohoo we just found block 5 and 1 hour after that we found block 6 , but I noticed that no confirmation on block 5 yet but block 6 came after and already have 14 confirmations, better not be invalid block... Hope to see my name as a finder for those blocks. Block 5 was invalid, unfortunately. |
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It is certainly unwise for most people to hold that many bitcoins on MtGox, imho.
Mark has stated 98% of their funds are in offline wallets, in safe vaults etc. Many of the transactions in this block could be going into those. I don't think it's unwise, as the risk of total loss doesn't exist. In fact their system is more theft proof than anything I've come across in terms of currencies and commodities. 1. There is a 100btc per day limit on every account 2. Even if you found a perfect way to rob them of their online wallets, you only get 2% of their funds Unless you can get him to reveal the details of the encrypted memory sticks etc & their locations at gunpoint, they will be safe forever. |
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I thought it wouldn't let you send twice to the same address? I thought there was always a big warning "Do not send anything but this amount to this address," blah blah blah... maybe I'm remembering a different BTC service though.
Mt. Gox allows you to use any of the disposable addresses they hand out, for as long as you like. It's a very good safety mechanism (and necessary if you want to mine & track stats on a pool like Eligius, where your BTC address is your username) Though every time you receive funds, you will get a new address. You can keep using any of your older ones. |
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Hm.. I just tested a 0.02 Gox withdraw and it showed up in a few seconds.
Do you have all latest blocks downloaded?
If your connections are low they might not be updating at all.
-addnode 173.224.125.222 will connect Mt. Gox node to the client.
If you are exploiting arbitrage opportunities on tradehill etc. with disposable addresses,
those transfers will only show up after 6 confirmations
(which can take from 1 hour to even 8-12 hours depending on network block discovery speed)
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Is there a reason for deepbit to be so popular despite it's being popular anyway?
I mean they charge the highest percentage and all these 'advantages' they offer like paying for invalid blocks is a statistical zero sum game...
Less variance. Any PPS pool has the lowest possible variance... there's no need to be big! True.. Size doesn't matter with PPS. Until ~2 months ago nobody else had the balls to compete with deepbit though. If I'm not mistaken, rfcpool.com was the first competitor with their 7% PPS scheme, though they switched to some other reward model. Now we have btcpool24.com and abcpool.co which are 0% pure PPS, with optional donations. |
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