It was back down to 22.8, then I refreshed and got 22.5. It seems that the limited demand for coins by actual merchants and the potential shutdown by the US government are starting to scare people away.
[/quote]

Price fluctuates wildly every weekend because wire transfers are disabled. You can't withdraw or add money by bank funds during Sat-Sun.

Take a look at historical data to back it up.

No, a group of speculators is pushing it up and down. It literally was down to $20 5 minutes ago and I refreshed the page 10 minutes later & trades were being done at $26.

A limit on trades per hour by one person could be useful.

What?

Anyways, there's a pretty good bear market going on. At $15 I might actually purchase some BTC which I haven't done before.
Since it's weekend and US->DW/LR wires aren't probably moving I think it could go down in the mid 10s before bouncing up.

Not going to sell mining proceeds now, though.

Not really the smartest move economically for a small miner.

After 3-4 months difficulty will be at a level where you can make maybe 0.02 bitcoins per day, but the value will have increased in an exponential scale.
As difficulty goes up after that, your earnings will become near to zero.

You will have sold BTC at $20 per piece, but in the new market you have no means of producing BTC nor do you have BTC because you sold them off.

So you are effectively limited to dealing with bought coins on exchanges because other avenues are now closed and you didn't save anything.

I had to put all PCI-e slots into x1 mode in BIOS on one of my P67 rigs. Otherwise it would say the video BIOS wasn't invoked. After that 4 cards worked.

1. €9k or so last year. It was unprofitable for a long while before this spring.

2. €482

3. About 800, keeps dropping as diff. goes up.

4. Something breaks every few weeks, mostly GPU's dying. 90% stays intact.

5. No wages (I keep 90% in BTC wallet and only withdraw about €2k-3k for living expenses now)

6. $850/month for datacenter rent not incl. electricity.

Agree, I'm surprised at how many junkies there are on the forum. Then again it used to be the same with anarchists/anti state activists etc.

It wont. Compared to the current difficulty level the relative demand is too high for such a low price.

$24-$27 for 567,000 difficulty ($30 is overvalue atm), $30-$35+ stable at next diff. level.

http://www.rediff.com/news/2006/apr/19indian.htm


You were saying?
I'm not an idealist. I'm a realist. Take off your rosy glasses and look at the date when this happened. It's been going on for years already.

There is no "pure" freedom of speech. When you cross a line you are going to attract the authorities. I'm not "scared", I just realize the risks unlike you, who lives in a bubbly world with no rules where nobody cares about anything.

It's just bugged, wait about 24 hours. It wouldn't arrive for the weekend anyways since the last banking day is tomorrow before Monday.
I can assure you it works just fine because I withdrew €700 just two days ago.

The spacing in the IBAN shouldn't matter though.. The bank will recognise it normally regardless.

After you successfully withdraw it should say "transfer on it's way" (or something like that).

Who is stopping them from selling it?

What happens to the BTC economy even if they sell it? Absolutely nothing. It's called liquidity.
The market would be dead if nobody was selling. It would be impossible for non-miners to acquire bitcoins.

No, it's not going to crash because people change it to USD, EUR or JPY.

Is gold crashing because it's sold in massive amounts every day for fiat currency?
Gold is just a shiny commodity with no real value except that given to it by the market and it's rarity/difficulty of obtaining.

Paper and bank money is even more worthless.
It isn't even backed up by rarity and there's tons printed every day out of nowhere. Just look at the joke of a currency called Zimbabwean dollar (of which 100 trillion dollars is not worth even close to 1 bitcoin) because absolutely nobody trusts it anymore

Paper money doesn't even have trust or security backing it up (can be faked and passed off relatively easy even by semi-professionals), people only use it because other people use it and believe it's worth tangible goods.

How many times do people need to hear it. It's not a fucking ponzi. I haven't bought a cent worth of BTC but I frequently trade them for tangible commodities, fiat currency and save them in encrypted wallets. It's called mining.

A ponzi scheme requires new members to pay to old members. If you start mining today you are not paying anyone anything with the exception of some hardware store and your electricity company. Chances are you already had internet access.

If someone wants to buy bitcoins then more power to them. Many people see it as a lot more hassle free than running mining operations, and it can yield a good return in the long haul too.

If someone wants to go on BitEgg and buy memory cards for their camera then more power to them. If they want to speculate on the price going up or down then more power to them.
If they realize it's a finite commodity that is practically impossible to forge, with very high levels of security and anonymity compared to ordinary money, even better.

Newsflash: The money I get in exchange for BTC in my bank account is virtual too. It's just numbers. There is absolutely nothing backing it, or its' value up except some vague promises from the state. BTC on the other hand is backed by extremely strong cryptography and a finite supply. A central bank on the other hand creates new fiat currency out of thin air.

I increased the limit by a few thousand after sending in passport scans.

Not that I use that option often, but running costs on a mining farm are a bitch. It comes handy when you need to sell off some BTC now & not on a 5 day spread.

Don't even see why people would use darkpools for selling if their limit was so low, I'm betting at least a few % of Mt.Gox customers have limits in the higher 4 or low 5 digits.

I don't like the massive variance of solo even at 10ghash+/s.

Just join a pool and get steady daily payments. It makes more sense unless you are into gambling.

There is nothing to guarantee you will actually find as many blocks in a year as you would make from a pool. It could even out in 6 months, 12 months or 5 years.

If you occassionally need to pay running costs like electricity or spare parts from your BTC earnings you are screwed as a solo miner if you haven't earned anything for ages.
You can't predict your income on a monthly basis which makes it unprofessional IMO.

As a quickfix I'd install IC Diamond 7 on all graphics cores, or Arctic Silver 5. Should drop temps by 5-10c compared to the stock random toothpaste they put on the chip in the factory.

It's also individual to every card.

Some of my 5850's go down to 300mhz. Some I can't even put to 900mhz or they will freeze when I start mining so I have to run them at full mem speed at the cost of bigger energy cost and heat.

Unfortunately laptop mining, and CPU mining in general is completely unfeasible at current difficulty levels. You will pay more in electricity than you will earn.

If you had a high-end chip like 6970M, you could maybe pull off 1/4th of it's desktop variant, or about 100mhash/s.

Best bet for mining is desktop systems with ATI cards.

Even though I usually always laugh at this kind of paranoid posts, you are right.

It seems some people are forgetting how paranoid the US government is. Even schoolkids have been jailed in the US for making drawings about stabbing a president.
Hell, it's more than likely the NSA has algorithms that detect this type of threads online automatically (even though they would find this is all just hypothetical)

I don't like the "chilling effect" in online discussions, I'm all for discussing even the worst sides of humanity, but please, if you do it on a public forum, draw the line somewhere.

Really, don't give sensationalist reporters the opportunity to claim "bitcoin users planning assassinations and discuss killing head of state" in bold headlines.

Broke my wrist last month in datacenter after hitting concrete wall; Multiple machines in the farm kept going offline due to ethernet failures or GPU freezes. The thing is, this was happening continuously at 2-5 AM for many days and I kept waking up on automatic text message alarm.

There is no personnel at night besides guard at the lobby and access is purely on keycard basis, so I have to drive 6 kilometers every time.

I'm usually very professional but that broke the camels back (yes, I realize it does not solve anything and is primitive. I was tired). Fortunately the problems went away after installing dedicated ethernet cards as suggested by sysadmin the following day.

Just a hint people: Use shipment tracking.

This way escrows are foolproof for both seller and buyer, but it requires organisation. Some of these steps are optional but I'm just describing how you can make the system failsafe.

1. Create shipment tracking code which is agreed upon by both parties, preferably on a public forum (thread should be locked after agreement so it can't be later edited to say "that code is not fine with me, I am superstitious" after item arrived)

2. When the item is picked up after arriving, it will show up in DHL/TNT/other shipping company database which is publicly viewable. There is no way to claim the item never appeared.

3. If the item is not as described (i.e. a pile of bricks), take pictures on the spot and make the postal worker sign and verify the content on paper, & do not release payment on escrow. Seller has no recourse and will not recieve funds.

4. If your buyer claims he never got any package but the shipment tracking clearly shows he has picked it up, then the escrow will release those funds. Since escrow already has funds locked in, they will be transfered to the seller.

If buyer cannot reliably dispute or prove the item didn't arrive or is faulty, money goes to seller.