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As was mentioned it is hard to get bitcoins from people without their explicit consent. One method might be to say "You have to pay for X months up front, but you can request a pro-rated refund at any time". That might be hard for a customer to swallow depending on the price, but anything else will be a lot less likely to get you your payments. Even if wallets with this feature became popular people would have to keep them funded with sufficient positive balance. Well, unless BTC denominated credit cards proliferate, but that sounds awful and not likely to happen soon imo.
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I certainly can't at their current value, but I think I could in an optimistic value growth rate scenario. I fully intend to never earn another dollar though. Bitcoin all the way for me.
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Mining as a whole continues to have less and less impact on the exchange rate each and every day (presuming there is sufficient hashing to protect the bitcoin network, and we're so over-protected at this point it isn't even a consideration.)
Really? I think we're only safe at this point because govs don't care yet. I hope we're 10x more difficult when they first start analyzing for an attack. |
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You are going to get biased answers here. You should go and ask people walking on some street near you.
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I think leaving all of the original text is best. If something major changes especially if the outdated info could hurt a reader an amendment, marked as such can be made in addition to all of the original text.
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I read this before, there is a really long account of it somewhere. The date on the check in the picture is 1995  |
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We should just wait 5 pages and then decide what to title a thread.
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The dollar amount is all that matters. I really don't care how many bitcoins I get back from my investments. I care about how much money I get back. Then you should speculate on btc value instead of betting the wrong way on mining difficulty. +1 I think it's worth mentioning another difference between mining bonds backed by fictional and actual hardware- some people may invest with the hopes of helping to secure the network by increasing the total hashing power. Obviously that doesn't happen w/ fictional hardware I would hope none of the bonds are backed my fictional hardware. I know some bonds are being sold before equipment is ordered. If they intend on ordering, I don't see anything wrong with that. I may take pictures and post a link on my thread. I don't sell any bonds if I don't have the actual hashing power to back them up. I've only taken that approach to protect myself. It's possible butterfly may run out of old singles or take longer then expected to deliver them. Returns are almost 10% monthly on bonds right now, it would not take long to lose a large amount of money. Do you have a problem with people who don't farm corn selling corn futures? |
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Bitcoins are like bitcoins.
...except better. |
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Heh, maybe a node, but not likely a miner with current bitcoin protocol and our understanding of physics. That rover landed 14 minutes before we got word because of that whole speed of light issue. Which does raise an interesting question: How will the network handle 10+minute lightspeed delays? Will someone on Mars just have to wait a little longer for confirmation? I assume each planet will have their own network. Marscoin, Jupitercoin, etc. Ha, yeah. Curiosity and Odyssey can trade with each other. i think Curiosity will need to buy bandwidth. Oh a two player bitcoin system is pointless though. One will have more hashing power than the other so they ought just keep a regular ledger since they must be trusted. |
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Heh, maybe a node, but not likely a miner with current bitcoin protocol and our understanding of physics. That rover landed 14 minutes before we got word because of that whole speed of light issue. Which does raise an interesting question: How will the network handle 10+minute lightspeed delays? Will someone on Mars just have to wait a little longer for confirmation? Yeah, it's fine to just wait if you aren't mining. If you mine then nearly every time you find a block people back on Earth will be building on a different block already, often already on to the next one after that. |
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It's funny that, if wanted, the most "secure" asset could be easily use for a scam.
IPO some mining bond at a rate of X MHash/s. Give back dividend based on the X MHash/s. Since the difficulty is going up for a while, the more the time pass, the less you give dividend by bond. If you lack money or to make more profit, you can issue new bonds (hey guys, I bought new mining equipment!).
When ASIC comes by, difficulty would go to the stratosphere and crash the value of the mining bonds. Buy back these bonds for market value (or 0.000001 BTC) and magic! You just made profit without even having one single gpu mining.
Value of issued bond - dividend over a couple of months - buy back = Profit.
I think we could even build a ponzi pyramid with that. With the difficulty constantly going up, you pay less and less dividend each week and if you issue new bonds at a small but fixed rate (200 new bonds each week), I think it could go for a long time.
If you always pay and don't claim to have equipment that's not even a scam, it's just a way to bet that the value of mining power is going down faster than it earns. |
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They are NOT SHARES. Creating extra bonds should have virtually zero impact on their price. The only reason these bonds lose value is diminishing coupon payments caused by increasing difficulty. Well, that, and perhaps some people waking up and smelling the coffee, and selling to cut their losses.
A large issue should drop prices since it indicates that more power is coming online and difficulty will be rising. The issue itself is information. Besides that 'real' (but probably tiny) effect, there could be a temporary dip if it takes new money a while to arrive. Also if people consider GLBSE to have counter-party risk then a mining bond there is more similar to another mining bond there than an equivalent amount of power on the outside and in the same way a new GIGA is more like a GIGA than some other mining companies GLBSE bond so it competes even more closely and should drop the price extra. Am I thinking right? There is a smaller market for GLBSE mining bonds than there is for 'all mining' and a smaller market for (example) GIGA than for all 'GLBSE mining' and the demand curves must all be at least slightly downward sloping. The more narrow the market and the less perfect the substitute the larger effect an increase in supply will have. |
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Heh, maybe a node, but not likely a miner with current bitcoin protocol and our understanding of physics. That rover landed 14 minutes before we got word because of that whole speed of light issue. |
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it is impossible to earn the amount of rakeback you are demanding in the amount of hands it takes to earn 7000 krill. If you only played 4 handed hands at the highest stakes (which is nothing like your actual play) the most rake you could pay is 700 * 25 = 17500.
If he pays 25 rake per hand, doesn't he get root(25)=5 krill per hand, and so he plays 7000/5 = 1400 hands to earn 7k krill, pays 1400*25 = 35000 in rake, and gets 2% of that = 700 chips in rakeback? I'm basing this on the explanation I found on the site: Each player dealt in to a raked hand will receive Krill based on the following calculation: √(rake) rounded up.
It's still a long way from "the 5 bitcoins" he claims to be owed. No, you get the square root of the rake taken as krill. But when you get whatever percent of your rake back it is of your share, not the total. As I read the site it isn't wrong, but it could more clearly state 'total rake for that hand'. |
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I think I fixed it, it seems to load instantly for me now.
It's odd because I hadn't changed a thing in months.
Please tell me if it works for you now Bkk.
Yup. Seems to be ok now. I'm deep in the rice fields of SE Asia so whatever caused it to be slow was exacerbated ten fold here. Cool. Thanks a bunch for letting me know and following up. |
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I can do it. I could crack yours within 30mins easy. Me guessing your btc address from scratch would be easier than what you are suggesting!
Been getting powerful stuff from the SR eh? |
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I think I fixed it, it seems to load instantly for me now.
It's odd because I hadn't changed a thing in months.
Please tell me if it works for you now Bkk.
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Just wanted to report that when I visit FirstBits.com now it gets stuck on the sealswithclubs.org advert and FF keeps trying to contact that web site. Even after 20 seconds or so I never get the entry address field.
Seems to hang the page indefinitely. Tried over and over, same result.
And in the meantime if you don't know you can use blockchain.info to look up firstbits. Just put the address or firstbits in the search field there. |
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Just wanted to report that when I visit FirstBits.com now it gets stuck on the sealswithclubs.org advert and FF keeps trying to contact that web site. Even after 20 seconds or so I never get the entry address field.
Seems to hang the page indefinitely. Tried over and over, same result.
Whoa, sorry. Let me look into this. Anyone else getting that? It paused for about one second or less for me before displaying the blank which it has never done before. |
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