I can't see a reason to use localbitcoins unless you're trying to go under the table which would be tax evasion if the amount is a taxable income.
Easiest way would be for you both to set up Coinbase accounts. He could pay directly then through his corporate banking account. The accounting would also be a lot easier for him than using localbitcoins.
The problem is that OP wants to exchange his bitcoin back to NZD, while only US people can sell bitcoin through coinbase (FYI: http://support.coinbase.com/customer/portal/articles/1392167-can-i-verify-my-identity-as-a-non-us-resident-). Ahh I missed that. Well then yes he would either have to use localbitcoins to exchange for fiat or use an exchange that supports NZD. I think BTCe may allow transfer of fiat into his bank who would do autoconversion from USD. |
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The more appropriate thread would be this one (warning, NSFW language and thread title): https://bitcointalk.org/index.php?topic=150803.0BFL took preorder money for Monarch from last August onwards. They were supposed to start shipping the initial Monarchs in November 2013. It's the end of July 2014 and they don't have a prototype that meets 90% of spec (currently it's getting about 360GH/s with lots of errors rather than 600GH/s). Just a reminder for any new users to avoid that company at all costs (and I was a former customer regretfully). |
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Apparently BFL has managed to pull of the perception of incompetence instead of shady, fraudulent hardware vendor. If the fraud was more evident they would have folded by now. They have professionals working there.
I would give them the benefit of the doubt that they are simply unable to design a miner that meets the specs that they promised. Bit regardless if it is incompetence or fraud the net result to the consumer is the same. It's not the same. If it's complete incompetence then BFL really has not made any hardware and they are not contributing to the network and making the difficulty rise. If it's fraud, they are using the funds to either buy hardware from other companies or secretly mine on their customers hardware (something they have admitted to in court). In this case they would be enriching themselves, and if the customer had other miners then they would actually be stealing even more profits from their customers. Avalon did this and mined on their customers hardware when they were the only ASIC game in town. Not only did they make profits, they punished their customers who had GPU and FPGA farms. Don't be so naive. |
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Yes I am using the DPS2000-BB's. I am running 4 S3's per PSU. I bet I could run more but I only have 8 PCIE cables per PSU.
I am pulling 33 amps @ 240V for 24 of them so 330W each. That is only 1320W per PSU. I could put 2 more easy on each PSU if I made new cables with more PCIE connectors.
 Good. Thus you can keep your PSUs unstressed and maybe more efficient? By the way, what happened with you Novec cooling project? The Novec didn't let me overclock the Neptune's enough to make it worth it. I am waiting for the Monarch's to see if I can overclock them if they ever ship. Out of curiosity were the Monarchs you ordered conversions from 65nm gear or did you pre-order Monarch? Did they offer you cloud hashing yet? The S3s seem to be drawing less power than I figured you would, what kind of ambient temps you have there in that warehouse? You must have arctic ari or something  |
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Hey guys .. nice forum post, looks like there right place to post. Anyway .. lets say you can get a server with 128 cores .. and you mine primecoin at current rates, what would be a good average earnings per day? Or something like 8 x 8core server. 64 cores. http://www.ricardo.ch/kaufen/computer-und-netzwerk/server-und-zubehoer/sonstige-server/gateway-8x-8core-2-00ghz-128gb-2tb/v/an740571332/Its only like 700 swiss francs .. thats around $500 USD i think .. will the machine pay for it self anytime soon ?? :-) Would it be enough to cover energy cost? It's hard coz I can't seem to find good cpu mining calculators. I like the idea of primecoin or CPU coins, but is idea just going to cost me money? Thanks guys You bumped a thread that was over 7 months old, which in crypto terms is almost 3 decades old. CPU mining more or less ended when XPM has GPUs take over the hash. I mined XPM on CPUs until Feb, after that it became pointless. Your 128 core server can't compete with GPUs. Look at the alt mining subforum and you will find Claymore's GPU miner for XPM. CPU mining would not even cover power costs (also XPM is tanking in price). |
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Dunno about you lot, but I think I've given up working in this heat 24 - 25 degrees  I just can't focus. Are you kidding me? That's the temp in my house right now at 5AM with the AC running for the last 6 hours. Today I have to drive out to Palm Springs for a medical conference - it's going to be 42C (108F)!!! I'mma gonna die!  |
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Congrats on earning that big amount in few weeks, I'm struggling to earn some satoshi from faucets.
This thread really needs to be locked. Please look at the date of the original post. Now look at your calendar. It's like the OP saying he bought gold in 1850 for $20 an ounce or something akin to that. |
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hello guys, I am newbie well my question is how do I generate BitCoins ? do I need to buy some sort of Hardware ? or software. What kind of Hardware I need to buy and what else required with that hardware. you should try hosted mining like ghash.io and for bitcoin wallet you use blockchain.info You've been here for 6 months and that's the advice you give?  ADVICE: unless you have over a million dollars of investment capital you will most probably not make money by mining. You need this large amount so you can mine with higher efficiencies of scale and get discount from ASIC companies and cut ahead of end users. So mining is not for the little guy. Why are the little guys buying ASICs - because they haven't bothered to do the math or think they can beat the difficulty increases. Forget mining for the time being, focus on earning more income and buying BTC with that income. This may change in 6 months, but right now mining is not profitable for the end user. |
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LOL at this old thread that keeps getting bumped and confusing newbies. You stay 24/7 claiming coins on faucets? It's impossible, lol.
Faucets pay ~10-70 satoshis every hour and I think that you can't stay 24h filling faucets...
Freebitco.in pays much more than that. It pays about ~300 satoshis per hour. The price changes depending on the BTC/USD exchange rate. And you can get larger amounts too if you're lucky. About 1 in 100 rolls will be a lucky one where you can win 10 or even 100 times the normal amount. If you use it 24/7, then you might even hit the biggest or second biggest prize within a year or two. Personally I wouldn't bother with a faucet that only pays 10-70 satoshis per hour unless it was part of a faucet rotator. There is also the PrimeDice faucet which pays 250 satoshis per minute (10,000 or 20,000 during HH), but there is a minimum withdrawal limit of 50,000 satoshis. I once bet 250 satoshis on it and ended up with $2 worth of BTC which I then cashed out. The chances of that happening was 0.1%. I remember in 2011 the faucets were giving .1 hehe now the amount is ridiculous..
Wow, I did not knew, 2011 faucet was so generous and was giving 0.1 BTC. I wish I knew Bitcoins that time. Unfortunately, I knew about Bitcoin in 2011, the faucets, the mining, the forums, the exchanges, everything... but I ignored it. And yet even with this, if you stand outside a supermarket and look for loose change or even beg for change you will make more per hour than would would visiting faucets. Hitting faucets is non-productive useless work than just makes people more sedentary. Go out, mow a lawn, get $20, buy some BTC. |
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You can move the wallet to linux
Install bitcoin-qt in linux ( ubuntu ) and move the existing wallet.dat to that
This makes the wallet more secure than windows
If he used it on Windows before, it would be pretty much useless. Your wallet.dat might be exposed to all kinds of malware on Windows. Therefore, if you move it to Linux, the attacker would have your key and can steal your BTC. Do you realize how difficult you are making this? How many Windows based people would know how to find an Ubuntu install and burn a copy. Of those, how many would be able to get the OS installed and run bitcoin-qt in under 1 day? Telling Windows based people to move to Linux is not helpful. People who are familiar with Linux can do this, people who are young and have time can do this. With the exception of miners, I would say Windows based bitcoin-qt easily accounts for 85% of all the offline wallets. All this talk of malware is quite useless. If you still have the coins in your wallet, use this thread https://bitcointalk.org/index.php?board=37.0 and pick a wallet on an OS that you're comfortable using. Switching to a new OS while trying to secure your wallet = lost coins. Once you have a secured wallet, simply move your coins from the unsecured wallet to the secured wallet - problem solved. |
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I can't see a reason to use localbitcoins unless you're trying to go under the table which would be tax evasion if the amount is a taxable income.
Easiest way would be for you both to set up Coinbase accounts. He could pay directly then through his corporate banking account. The accounting would also be a lot easier for him than using localbitcoins.
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Unless you make $120 an hour, if you spend 5 hours in this subforum reading you will learn how to secure a wallet and also be able to pick a wallet that suits your needs. 1 Bitcoin is about $620, so 5 hours is about $120 saved per hour if you have even 1 coin in your wallet. https://bitcointalk.org/index.php?board=37.0 |
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If you are ready to risk your job, you may use the computers to mine those very new cpu coins and wait for the coins to be listed on exchanges.
The computer may overheat and your computer's performance may be down graded. OP is better off selling all of those computers. Whether coins will be CPU resistant forever highly depends on the popularity. With huge popularity, your coin would not be as CPU resistant but would have a decent price. With low popularity, not much people would develop mining ASICs or GPU miners for that coin but the price would be quite low. Does everybody just chime in without reading the first post!?! 4 people have already advised him to sell the computers. He works or has access to a computer lab on a school campus. He does not own the computers and he most definitely does not have the right to sell them. He was contemplating mining on them - which would be illegal unless he got permission explicitly from the school. Any possible income he could generate would be so minimal and not worth the risk of getting kick out or even charged with a crime. |
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Well we should give the airline the benefit of the doubt with respect to maintenance. I think the issue the plane was facing was flying through hazardous sandstorms. Perhaps in an effort to not lose money they choose to continue the flight even when a significant risk existed. That could be negligence.
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So now our nation has regressed from a modern, progressive country to a middle ages country where we not only have to execute people but we also have to torture them in the process. Nobody can tell me that they don't know how to execute people but they may be dysfunctional in Arizona where they have the likes of Joe Arpaio, who probably would have been run out of the old west, who treats prisoners like serfs that owed a debt to the vicaire in the dark ages. Where he fits I don't know, but it isn't anywhere in America of the free. It is more likely in about 13th century France or Spain where they treated prisoners like this and tortured many people as well as executed them. Not only are the police shooting people down in the US now in a wholesale manner but prisoners are also dying at a record rate in prison. Now they are torturing them in an act that ends in death. Maybe a sign of the cross for both the people that do this and the ones who are the recipients is in order!
Clearly you have never been the victim of a rape. Your carefree attitude that all can be forgiven and forgotten should stay in preschool while you hold hands and sing. I had the unfortunate opportunity to be the attending physician to a woman and child who had their heads beaten in by a table lamp from a robber. The child died, the woman was in a coma for about 2 months and then started rehab. What do you think we should do with the attacker? Deport him to an island like Australia? Give him a house and public assistance so he won't have to steal? Or just release him to kill others (he murdered 3 people before the 2 I saw)? Your enlightenment has no solution, only critique  I think we should be making self-defence laws clear and understandable so that people don't have to be scared of defending themselves in their own homes never mind out in the streets, but good luck doing that when governments want to leave us as defenceless as possible. In a kill or be killed situation I'd never say don't defend yourself like some people would ( Those are the ones who are truly naive and usually have armed protection going around with them ), but going "Hurr durr, death to all criminals" just makes you a murderer yourself whether you agree with that assessment or not and I'm someone who firmly believes in the idea of self-defence. I don't see anybody crying death to all criminals, well I'm sure there are a few nuts here. Crimes are weighted sometimes based on circumstance. A person killing somebody in an emotional fit usually gets a lesser charge than somebody who has been planning an assassination. Self defense laws are only useful in cases where there is a victim who can defend themselves. It does nothing to keep a killer, a rapist, a child molester off the streets. I was asking umari127 to post possible solutions to incarceration which he/she felt are bad solutions. Here's an example of what you are talking about: http://abcnews.go.com/US/wireStory/man-shot-burglar-pregnant-24704576Should he be charged or not? He might have been robbed by the same gang that burglarized my house. Prior to my burglary I never wanted a gun nor had I ever touched a gun. Knowing the history of the people who broke into my house, I feel comfortable now shooting and killing anybody that comes after my family in my house... but that's in my house. |
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What says your room-mate won't also bring his/her own ASIC rig? Who gets to use the outlet?
Electricity may appear free, but it isn't.
I agree. There wasn't any reply from him. I think he is watching the thread quietly. I don't think his roommate allow to run an ASIC as it has sound which will disturb him. Won't there be any problem in college if the electricity increase a lot? Kindly, MZ Running 2 ASICs like 2 S3s isn't going to increase the bill for a large dormitory. If every student did it then yes it would, but one guy won't be singled out. The problem I was stating was the 1 guy could burn down the dorm, or at the very least bother his roommate with 800W of 2 S3s running 24/7. |
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I would be stunned if DELL had ever manufactured an ASIC. They BUY lots of ASICs, but I can't imagine that they have any actual engineers to design, layout, or fabricate an ASIC. I would also be surprised if they have any clue about what ASIC process is "current" besides what it costs to purchase 10,000 of some widget designed and built by somebody else.
You've got to be trolling. While Dell may not actually build anything themselves pretty much all their equipment is an custom order from Taiwan more or less since they do large batch runs of each board specific to each model of PC. They can go through 50K PCBs in a month - BFL can't even get their Monarch PCB designed correctly after 20 attempts because they skimped on copper. Dell would just have to have a foundry subcontract a chip run and getting an ASIC designed for Dell would happen a lot faster than somebody like BFL or Cointerra. |
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Unless you have free power (which you might considering you're using S1s) you should undervolt the S1s and possibly try to keep stock clocks. That would cut down the power requirements enough that you can use something like a CX500 or run 2 of them off a 1000W unit.
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I thought i was worried about security before reading the post on this thread, now im fucking paranoid, as soon as 1 person mentions a safe way 2 store coins some1 else said they could steal it easy. Can any1 point me 2 a thread on security that is going 2 work. Thanks.
Armory has a step by step guide for how to make an offline cold storage wallet: https://bitcoinarmory.com/about/using-our-wallet/ |
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If you are ready to risk your job, you may use the computers to mine those very new cpu coins and wait for the coins to be listed on exchanges.
There are no new CPU coins - everything has been commandeered into a GPU coin. BTC, LTC, XPM, XMR - the whole lot - everything went GPU or ASIC. Other than selling out CPU time for cloud services there's nothing the OP can do (especially not in a legally condoned manner). |
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