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I think the question was: since you need the previous block to find the hash for the next one, isn't everyone trying to find the same block at each moment?
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So that means that the pool that didn't win has to drop the block they were attempting to form and start all over again? That sucks lol. Just when I thought it couldn't get less power efficient lol.
No... Or else smaller pools wouldn't survive. Deepbit solves blocks in a few minutes for example... But I don't know the exact details of why it doesn't happen  Maybe the network assigns different jobs to different pools/users? |
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How would I know. Just run it on every damn computer in the store.
So you're the guy with the music service? I am supposed to trust you?  In case you don't know, that's illegal and there are cameras in the stores. And tomorrow some employee will probably shut everything off. |
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Again. I'm going to be using Bitcoin as option other than Credit card.
I'm so sorry. I didn't read your other post. Well, if you have everything set up, is it hard to add bitcoin as a payment method? You have nothing to loose I guess... |
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I disagree. You will be entering competition with the big boys, stay the course Exo!, Bitcoin only services (I still don't understand what you are doing fully, but I'm sure the fact that you take Bitcoin as payment is the reason you started this 'service' lol)
OK so now think, how many people know bitcoins? From that number, how many people actually uses them (either mines, trades or buys stuff)? From that number, how many people love music enough to pay a annually amount for it? I honestly don't think that is worth it. I don't choose services based on payment method. I choose them with base on price and quality. If OP's service has quality and is cheap I will pay him with Zimbabwean dollars if I have to. |
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The thing is, you can't have just Bitcoins as a payment method. Very few people know bitcoins and for your business to succeed you must accept other payment options. So with don't you set it up at a price that most people are willing to pay (not only geek bitcoin users) and then come back here?
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I think that the best option is to trade a few dollars for bitcoins and buy things yourself. During that process you will also learn a few things about bitcoins.
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I understand some advantages, but given the value fluctuation wouldn't investing actual cash be kinda risky? Unless you bought bitcoins for insanely cheap of course, then it'd just be like the stock market and you could return a decent profit
When you mine for bitcoins you are also investing actual cash in electricity and perhaps hardware. Last month a bitcoin was worth $30. If that price is reached again during august, you will double the amount invested right now. Some people may think that it is worth a shot. But yes, butcoins are a high risk investment right now. But besides monetary value, he could use them to buy stuff online anonymously or to transfer money to a distant friend. intersango.com in EU (euros)
Their orderbook shows very little activity... Do you usually trade there? |
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What's the point of purchasing bitcoins? Most places that accept bitcoins as payment also seem to accept standard currencies as well.
Now tell me, what are you doing here if you don't know the advantages of bitcoins? |
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Last week used SEPA bank transfer to Mt Gox and it worked fine (but apparently SEPA transfers in EUR are now closed until next week). It took 2/3 working days and I didn't pay any fees.
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I do not rofl. It's a whopping CUDA based 38.2-40.0 MH/s on my GTS450. So what you're saying about my odds of finding it overnight, and I might be reading into this a little, is I should instead take out my graphics card and use the corner of it to scratch some scratch off lottery tickets instead cuz the return would likely be better  Lottery tickets are far better...  There are some nice calculators around (I don't have the link right now, but check the wiki) that you can use to find you these probabilities and how many bitcoins/day will you make on average with your setup. |
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How is CampBx in terms of volume? Are they growing? There isn't much info on what's going on there and the graphs on their page are still on "beta"... I have plans to move there when they start supporting EUR.
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You are right. Buying bitcoins should be really simple and it isn't. Just be patient. A week isn't that long... |
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Wow... I have seen lots of comparisons, but this is the first one that involves radioactive materials. But yes, you are right. It's lottery. It's like throwing 100 coins to try to get "heads" in every coin. You can go ahead and try your luck, but I am just going to give you some numbers to think about. Let's say that you have a nice setup at 500 Mhash/second. If you start solo mining with this, you have a 50% chance of having found a block after 107 days (4 months) and 95% chance after 465 days (September 2012). The probabilities of finding it overnight are... well... underflow. If you join a pool, you can also be really really lucky and find the block before anyone else submits shares and you get to keep all the 50 coins. The probabilities of this are also ridiculously small. |
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