What is the target for the reserve account, and what percentage of your profits from the passthrough will be used to build up the reserve?
The target for the reserve account is 100%. The question is, how long will it take to get there? I am hesitant to commit to an exact % of profits that will go to the reserve account, but I plan to increase it on a regular basis as interest payments are paid out. |
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This sounds like a great service. I hope it helps get some new people involved in Bitcoin. Good work!
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There are many easier ways of doing it though - one being, just emailing the works to yourself and a few friends and family. Emails generally hold up in court just fine.
Emails as copyrights do not hold up in court. At least not in the entertainment industry. I know this from experience. I have seen people take written works and physically mail themselves the works, not opening the letter and submitting that to the court as evidence. The post mark has held up (although I have also heard stories of it not working). For that reason, I was thinking the block chain could be an easier and even stronger evidence of a copyright. https://bitcointalk.org/index.php?topic=47283.0 <- This seems like a reasonable solution for placing written works in the block chain. |
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Try a few intensity settings and go with what works best for you. Try 725-825 for a gpu range to start with. Go with 75C for a target temp. Use auto-fan & auto-gpu. Adjust all settings to suit your needs.
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Interesting project.
+1 I don't know anything about it other than what I've read in this thread, but if there are people who will pay BTC for storage space, I'm in for 1 TB. |
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are you doing anything else with these funds, or is it strictly all going into pirate?
No. These funds are going to pirateat40 and I will always maintain the amount shown on this thread in my account. would it be reasonable to assume that if something happened to Pirate...you would likely want to do what you can to protect your own reputation and business, possibly take a loss with the longer term view of building up your own base of lenders who trust YOU?
No. If something happens to pirateat40, I will have no way to generate the necessary interest to continue paying out 8% on deposits. What I would do to protect my reputation, is pay out the reserve fund to depositors proportionately to their current deposit as listed on this thread. It is important that depositors read the information provided in the original post and not make assumptions. |
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INAU pays way more, too.  15% monthly insured, 30% uninsured. Why the attack Kluge? Aren't you asking for BTC deposits and offering 2.25% interest for a longer time period? https://bitcointalk.org/index.php?topic=76110.0EDIT: I will delete this post if Kluge deletes his posts on this thread, so vuce can continue without the attacks. |
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Way to use an extreme example... Well it was your example. Yes, and thank you for assuming I was only referring to high end cards like the 5970. You know what happens when you assume... I was merely throwing up a counter argument for the newbie OP to consider. Hence my advice to educate himself and make a decision that he is comfortable with. It is good to know both extremes. Thank you for supporting the other side of the conversation (which was already stated, and I was speaking in response to). DISCLAIMER: I OWN MULTIPLE 5870s, 5970s, 7970s & Bitforce Singles. |
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Good point, although if Bitcoin were to flash from existence tomorrow, you would see GPUs selling for $10 on eBay LOLZ. Yup GPU would be worthless. $10 you sure you don't want to retract that? A 5970 which can still play just about any game out there at high resolution will be selling for $10? Way to use an extreme example... No need for a retraction. I was simply stating that there would be a "rush for the exits" with GPUs as well. I doubt there is much demand for old, beat up 5770s without Bitcoin. Add in shipping and eBay/PayPal fees and you'd be lucky to make out with $10 for one of those if BTC were gone tomorrow (I can use extreme examples too). |
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Remember, Bitcoin is still in "beta" phase. Should it happen to flash from existence, a GPU will easily re-sell, whereas a purpose built FPGA will be a $600 paperweight, and not even a good one at that.
Good point, although if Bitcoin were to flash from existence tomorrow, you would see GPUs selling for $10 on eBay, whereas an FPGA chip like the x6500 could be stripped and resold for a decent amount (around $300 I would assume). It has also been speculated that the FPGA BFL uses in their Bitforce Single was purchased at a large discount and could be worth thousands. Sort of works both ways... In any event, there are always risks. Good advice is to educate yourself and make the best decision based on your personal circumstances. |
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Personally, I'm just not interested in new cards. The kings are still 58xx and 5970's and they are less expensive
I was going to sell my 7970, but after a while I fell in love with it and sold the 5870s in my main computer instead. The 7970 can be undervolted so much that they are quiet and cool while getting about 610mh/s. Maybe not the most BTC for the buck, but if electricity/heat/noise is any type of concern, 7970 is the way to go. Especially if your rig doubles as a regular use or gaming machine. |
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How come that all the quoted addresses have 0 transactions associated with them, and show up as "Never used"?
Looks like some randomly generated addresses, what's the point?
Good question. The link will track the total amount of interest paid to that address. Since no payments have been made as of yet, they are all showing 0. Once the first interest rate cycle has completed, you will see that number update to reflect their interest payment and all future interest payments. |
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RESERVE FUND:
A Reserve Fund has been established to provide depositors with insurance against loss of deposits. In the event of a Bitcoin Savings & Trust failure, the Reserve Fund will be paid out to depositors, proportionately to their deposits held as listed on this thread.
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Some totals of currently displayed information might be a nice touch. On my account, I'd like to see total fees paid and it would also be cool to see the total amount of BTC volume on the exchange on the "shares" list. EDIT: Might I also say that I am quite impressed at the speed in which you are improving the exchange. I keep throwing up new feature ideas, mostly because you keep adding them so quickly.  GLBSE 2.1 is going to be a big improvement.... looks wise, and should be much more usable. would also be cool to have a "total assets" amount like the normal brokerages too. ie: something that adds up your holdings according to the current bids, one for each asset, then cumulatively. +1 another great idea. Although I think it should be based off of the "last" price instead of the highest bid price. |
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There are several services that use the Bitcoin Block Chain to store written messages. Do you think that one could use the Bitcoin Block Chain as a sort of 'poor man's copyright' to establish legal ownership of written works?
I did not see this question addressed using the search function. If it has, please point me to a link. Thank you.
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Some totals of currently displayed information might be a nice touch. On my account, I'd like to see total fees paid and it would also be cool to see the total amount of BTC volume on the exchange on the "shares" list. EDIT: Might I also say that I am quite impressed at the speed in which you are improving the exchange. I keep throwing up new feature ideas, mostly because you keep adding them so quickly. |
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x6500 = FPGA miner FPGAs cost more than the typical GPU, but use less electricity, are quieter and give off much less heat. If you want an operation that won't be loud, hot and use a ton of electricity, FPGA is the way to go. Another great option is the Bitforce Single mentioned above: http://www.butterflylabs.com/products/I agree with above poster that you shouldn't be solo mining with 1 miner. If you get above 3gh/s, then you should consider solo mining. Unless you enjoy playing the lottery. An even more radical idea is to invest BTC in Bitcoin mining companies listed on the GLBSE. |
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An ability to register an "emergency wallet address". It is not a wallet for dividends, but you can use your daily one as well (if you do not care about anonymity). Allow asset issuer to view a list of holdings with only "emergency wallet address" and number of shares. Asset issuer is supposed to download it and periodically (daily) back up. Should it ever happen that someone raids you and crashes your server than asset issuer can make a public call for stakeholders to claim their stakes. Each stakeholder would than sign a request with their "emergency wallet" and email to the asset issuer.
Not a bad idea. If this could be setup to automatically email the asset issuer on a daily basis, I would use it. It would also be a good way to verify people who claim they hold a large amount of shares and try to give input on the direction of the company. |
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