You should do the math and figure it out. Like look at other companies too like in my sig. No hardware, that is one downside, but you have to look at difficulty and fees to see if it makes sense.
Let's say I want to buy 1TH/s of mining. pbmining.com - Cost is 2.9BTC, with no other fees and 10% referral program lunamine.com - Cost is 2.2056BTC + 0.0032USD per GH/s per day and 5% referral program 0.0032USD * 1000 * 7 * 52 = 1,164.80USD or ~2.0BTC at today's exchange rate for one year of fees. So, lunamine is 2.20568BTC + ~2.0BTC or ~4.20BTC expenditure during the first year of mining. On lunamine, it looks like it is a lifetime contract, but the odds of receiving any significant revenue after the first year is low, especially with their daily fees. Pbmining looks like a much better deal, all things considered. Did I do the math correctly? Your math looks correct, if those are the actual rates they are crazy high. I thought Cloudhashing was expensive at $3,000 for 1 TH/s for 1 year. The big bonus there is you can buy cloudhashing contracts for cash using a credit card. So, it's a way to "buy" bitcoin with a credit card. --- I also cloud mine with nXtGen mining http://nxtmining.com/, although they pay out in NXT not BTC. Given the price of NXT they are charging ~$2.05 per GH/s. But, that is lifetime contract, and you can sell them on the AE if you want to at any time, assuming there is a buying, similar to cex. They also have a small fee, I think 3%. |
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what kind of hashrate do you guys expect to see on a NAUT MP if I get one going for you? Don't want to waste the pool ops time if it will be minimal.
Would it be beneficial to have the MP up now, or should it wait until the PoS update is done?
I would say get it going now. It might be more profitable (yield more naut) to mine in a multipool and buy naut on the exchanges than hashing on the broken digishiled stuff as it is now where you don't see a block for 5-8 hours sometimes. |
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Scrypt ASIC is very risky investment imo, these coins are not as usefull as Bitcoin because hardly anyone using it and almost no merchant support. So you need hope the Scrypt altcoin price does not crash before you mine enought to be at least break even. The altcoin price is only backed by speculation imo, not real usage of the coins
What percentage of bitcoin transaction/use do you think is "real usage"? My guesstimate is that over 85% of the transactions are just trading/investment/speculation type stuff rather than commerce. |
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When we get asked this it usually feels like somebody trying to pump a coin.
At the moment I don't see any altcoins that have any sort of overall advantage over Bitcoin, so I don't see us taking a different direction with what we're already doing. It seems that most altcoins are pump and dump schemes, are they not?
I think many are. But not all. Most that aren't are actually PoS coins. So, you can't mine those. Via and dare I say Doge (with digibyte) aren't really pump and dump. But, I'm not sure how profitable mining Doge is given the small price, although you do get 62,500 coins per block at this point. Via is the opposite. It has a great value, like 40k sat right now after an IPO price of 6k sat a few weeks ago, but the block reward is 5 Via (every 24 seconds) at this point to discourage miners that just want to dump rather than support the network. DarkCoin has the anonymous function that separates it from Bitcoin, but it is X11, so I'm not sure if you can merge mine that or mine it at all with ASIC machines. Also, may people say Bitcoin is a poinzi scheme as well.  |
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The QT will add basic functions for Teleport and managing telepods, but for things like InstantDEX we need to use the NXT GUI as a starting point. NXT GUI is totally HTML and runs in a browser talking to localhost (127.0.0.1:7876) so it is totally client side, but it looks like an active website.
If you use the NXT GUI you will understand, it cannot be compared to any QT wallet. So I need people with user interface experience to look at what NXT GUI is now and then think through what it could be as a reskinned BTCD GUI with "NXT inside"
It is like HDTV bigscreen vs. old black and white TV, well the difference is even more. Words cant describe
James
Thanks James, you'r the man. How about contacting original NXT GUI guys? Can they help? They are already helping as much as they can, one is doing InstantDEX GUI another Privatebet GUI, need more GUI guys. I seem to have too many magic API's that need them  I'm happy to help with HTML5/CSS/Javascript coding for BTCD. Let me know what you need. you can contact my via PM if you want. |
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Would it be possible to release the code but with copyright restriction ?
So free to read, but NOT free to use or modify.
interesting idea. But the fact remains cryptocurrency has a culture of open source so going against that is not going to be popular. Clones do not hurt a coin. What could happen if you don't play the game however is people dismiss Qora and move onto another coin. It's not like anyone has to use Qora. Try to understand all this from the culture of cryptocurrency this is not windows office. I think many people in many countries, US included don't think much about copyright and that wouldn't stop them from using the code. That said, I don't recall when we voted. I also don't understand the reasons people wanted to keep the source closed at this point. I think there are more benefits to releasing the code than the detriments to opening it and/or to leaving it closed. Also, the voting system isn't truly fair, since it is based on held Qora. We have no idea how many votes Qora holds, so he could be controlling the vote. At this point, I support Qora. I am advertising for it in my sig. But, I won't be adding to my holdings via purchases until the code is open sourced (or at least visible) so that the claims made in the OP can be verified and also the security of the algos can be reviewed by a few experts in the community. As Ronald Regan said, "Trust but Verify". |
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Yep was me! Asset works fine and isnt that hard to manage as i thought all no problem. thx abctc Folks can use secureae.com ( https://trade.secureae.com/#12404894802398759379) to trade the FIM asset. It is a secure web based version of the NXT AE and allows for simple BTC to NXT gateway. No need to d/l a NXT wallet. It's probably cheaper going this route than dgex based on fees. But, I'm not 100% sure. Perhaps abctc can compare fees. Let's get some more liquidity going for FIM on the AE! |
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Ok I have been doing a little prep works on things before the launch...
I'm trying to come up with a long, random, hard to crack passphrase that will be easier for me to remember..
Can you tell me where to find the passphrase criteria (max length, special characters...)?
Hows the tech paper coming along?
I know I'm being a noob to "brain wallets" that only use a passphrase.. but it gets me worried keeping my crypti in a wallet that can be accessed by a random guess at my passphrase. Any insight in to this would be great!!
Cheers
Use a password manager to remember your key. A 50 character random key it generates will be very strong. That is the length of bitcoin private keys. |
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Someone knew to the NXT AE won't have any NXT to place orders. Are you sending them any NXT when they send you FIM so they can secure their account and place orders? |
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Maybe the development is going better than planned and they've decided to wait a day or two, and then announce that they're done? *Huge optimist?  As a developer, I can tell you, things ALWAYS take longer than you estimate. That's why it's a love hate relationship with contract work for me. I love keeping my own schedule, I hate giving estimates. True, but generally you give estimates in work (billable) hours not calendar time. Although, you can extrapolate of course. But, where I work we always underestimate, but it's the nature of the beast, there are always things you don't anticipate so you don't consider them in your estimate. That goes for most engineering things, from software, to construction to road work, to accounting. It's worse in software because you are always doing something new. While in construction you build the same house the same way hundreds of times so there are a lot less "unknowns" that come into play. |
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So what would you fellows say the 'safest' -as in most likely to at least break even- amount of hashing power to rent?
zero! I've done the calculations and buy and HOLD is the best option given the current difficulty (which will only get higher). While I do have some GH/s at PBMining I have determined to just buy and hold $X every month, money I consider 100% at risk expecting BTC value to grow against the US$. |
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"housemarket is not a ponzi, its inflation driven"
Interesting way of putting it. Would that mean that from 2008 to 2009 US had negative inflation in the order of 60%?
Negative inflation would be "deflation." Deflation, like in deflationary. That's good, right? It really depends on what economist you talk to whether inflation or deflation are a "good" thing. |
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Well, the one surprise that I have today after I installed the Wallet is, how fast fast actually synchronized with the blocks.
That is due to the block chain being pretty small due to the coin only being launched recently. Another issue the Bitcoin crowed is going to have to deal with, block chain pruning. I know there has been talk of it, but I'm not sure it has been addressed yet. |
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why is the developer not bothered to get FIMK on other exchanges?
Probably because the developers are developing the coin, not day trading it. I bet a community effort could get it on Bittrex or Polo or BTER. Someplace that already has NXT would probably be easiest because they already know how to implement it. |
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Maybe the development is going better than planned and they've decided to wait a day or two, and then announce that they're done? *Huge optimist? As a developer, I can tell you, things ALWAYS take longer than you estimate. |
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bitcoin needs some competition. its getting to be like your grandads crypto  I don't think any currency ever will compete with Bitcoin, they are most accepted crypto. That might be true for web transactions or sending someone "money" where waiting 10 minutes for a confirm isn't a problem. But, for POS type transactions something faster is needed. Less than a minute is probably ok, less than 10 seconds is probable better, less than 1 second is probably optimal. I think Bitcoin is here to stay, it will be the "gold" of crypto. It will be used as a store of value and for large transactions or for transactions where 10 minutes is fine. But, there is a need for a faster coin. This was the idea of Litecoin, but I think it is still too slow. Will Via win? Will NXT? I don't know. So, don't think compete but complement is more the word. |
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I guess the only sticky part is the 10 btc on the waiting list... they technically put their btc in now and would be entitled to a 24% bonus but there is no telling which day the return will happen that will let them come off the waiting list... So what % bonus do they get for having thier btc tied up for the next 3 weeks to potentially get them right back if no one returns...
Any purchase that was performed on Bter before the buy option was removed, is considered as finalized CRSALE purchase and will be eligible to the a 24% bonus, in case there are refunds. Pretty disgusted in the Crypti team, This was the last I read on Crypti before I just left it as I thought it wasn't going to be made available till August 10th. I had bought on the last day of the presale and thought I got in in time I RECEIVED Crypti tokens. I took a break from bter and for the most crypto trading with the exception of a few threads. I just logged onto my Bter account to find Crypti trading early and No Crypti in my account but my Bitcoin refunded. How do you justify having to stick to the terms and conditions of the original post, overselling holding my bitcoin for weeks telling me I was going to receive Crypti ( I wasn't on any waiting list I had Crypti tokens)and then Refunding my account and opening trading early thus breaking the original Terms and conditions that it would not be traded early. This is disgusting behaviour!! I assume you invested after the 750BTC cap was reached so you were refunded. I'm not sure what you are implying. |
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I trust qora 100%. He's not a person who might let us down, that's for sure.
I also totally understand people who would like to keep the source closed. If you are one of initial investors, you basically have nothing to lose. Maybe just a couple of BTC invested in Qora.
But think about people who want to build something on top of Qora. Like encrypted messenger or something like that. It's months of hard work, probably some expenses also. Not many people would feel comfortable to start a new venture if the whole thing depends on one person. Even if they trust him. It's just not right and too risky. It was totally fine to keep the source closed from everybody, but I think that now we're getting to the point when we need a 1 or 2 more people to have it.
If QORA community is looking for 2nd guy who will keep source code for QORA as backup in case if QORA himself disappears then trust me I am that guy. Here are reasons of why you should trust me: 1) I don't have very close friends in real life, so there is no way I would share with someone I know well and that person would share with someone he knows well and so on. 2) I don't have any friends on bitcoin forums, no worries here. 3) I am not one of initial investors, so I will be very interested to potentially earn QORAs and the following will explain how. 4) QORA community will determine number of QORAs that they are willing to transfer to my designated QORA account in event of emergency (QORA disappears) so that I will share the code with designated recipient or post it as open source. 5) That number of QORAs should be big enough to kill my potential interest to accept bribe from KORA & others. I suggest 200 million QORAs. 6) That number should be big enough to kill possibility of one large QORA holder to send it to me and outvote everybody else. 7) That number should be small enough to allow community to collect it. 8 ) I promise to disclose it to community designated recipient only if both of the following events happen: a) community approves disclosure by vote on QORA network that will be held for at least 1 month. b) I receive pre-determined number of QORAs to my account. 9) Qora will send me source code once in a while or for every release and I will compile and publish executable together with SHA256 hashes of executable and source code on both QORA and NXT blockchain. 10) Qora can publish his hashes too so that people know that I actually have the source code. 11) Each time I publish community will send me 200,000 QORAs for doing that work. If I don't receive 200K for one release, I will not publish only that release, but QORA will still publish and other terms still remain in effect. 12) I am developer myself, so I can inspect Java source code and can potentially answer some community approved questions if any (for some fee depending on difficulty). I can also verify (for additional 300,000 QORAs fee) if it's obfuscated or not and if it's obfuscated then let community know of the problem. 13) QORA source code does not have to be released to public any time soon with that good backup so clones won't exist. 14) One new exciting possibility will open with that kind of backup - both me and QORA could run same obfuscator for Java code and publish only obfuscated Java executable thus eliminating decompilation and clones. Parts of Java code could also be translated into C++ to have stronger protection from clones. 15) From time to time I could also inspect source code for malicious behavior (for additional million QORAs fee) and report to the community. Having each release and inspecting only differences will make it easier to inspect and may significantly lower the fee depending on size and complexity of source code and changes. 15) Other investors will have stronger insentive to invest in QORA knowing that it's backed up and not cloneable at the same time. This should pump price up. 16) When I have more spare time and with enough insentive I may potentially become QORA developer improving it together with QORA or after QORA stops to exist like BCNext. Or you are Kora trying to get the source so you can release Ora. 200 million, sure coming right up. |
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Well, they have your email address, and your password. And lots of people reuse passwords.
People still do that? I do, but only because there's no way someone can brute force my password: "ju5t1nb13b3rf4n69" Yep, that's a very strong password. No worries. You're 100% safe. |
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