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If you are looking to make money, just buy BTC. You'll save yourself a lot of work, and the odds are that you'll make a good profit.
If you are looking to mine guess you like that sort of thing, research research research. 3 pieces of advice:
1) gpu's are great because they have a very good resale value.
2) for ASICs, if you want to break even in 2.5 / 3 months at least. if it doesn't look like it will by then, don't get it
3) don't go for any preorders. there is no point any more, and it is too risky.
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I'd cash out 100 btc, move to a country with low prices, cheap electricity, great beaches and sexy girls, and then invest the 400 btc in mining and other less risky investments, and live happily ever after.
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Wish I was paying more attention recently. I don't know about .5 .6 prices, that may be great or too much (up to you to decide), but I do know Asicminer would have been a great buy around .2 / .3, wish I noticed it got that low.
The new chips sound really impressive.
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The world of Bitcoin is amazing. From somewhere around 15 BTC a gigahash to 15$ USD a gigahash in less than a year, pretty amazing.
Which I had more capital, would love to be a reseller, I think this product will kick ass. Good job F.C .
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Pre-orders are risky business. The odds are against it working out. For every KNC you have , I dunno, about 5 companies that don't deliver, and 3 companies that under-deliver, and 2 companies that are super-late, like Avalon.
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Gox won't steal your money like Jon Montroll of WeExchange, but can take a terribly long time for them to process stuff. Even a year ago when I stopped using them they took forever, it's probably way worse now.
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WeexUser, do you want to claim for the record that you are not Ukyo / Jon Montroll ? I can't fathom why anyone would make an account and post over 70 messages supporting this scam unless it was in fact you. Just like Jon Montroll you never answer questions you don't want to ask, you just deflect them. As far as I recall the notice was not put up on Nov 16th. I checked after writing that post you wrote and recall not seeing that warning message. But let's say it was accurate. So Jon Montroll for 30 days or more, knew that he could not pay anyone back who deposited money to WeExchange, still allowed people deposit, without giving them any warning. Great Jon / Ukyo / WeexUser, you really proved what an innocent person you are. It was only for over a month that you accepted money with no ability to pay back the depositors  You've had my BTC for over 2 months now, closer to 3 , and you want to argue and rationalize what is okay with this situation? You have a lot of nerve. |
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That is pretty funny when you consider each point they made...against the USD, or pretty much any other fiat currency for that matter.
In a contest , I think bitcoin compared to USD against the bullet points they made: bitcoin edges them out.
The hard to understand point is close though. I'm not a great explainer. And I don't think I have had much describing to folks I talk to about either a) how bitcoin works (even though I know the subject well, still a bit a difficult to succinctly lay out with out many technical terms or b) how currency is created from two entities buying stuff they made up from one another, at interest, out of thin air, that is based on nothing, and how each countries' currency in the global economy is pegged against that one.
I think A) is easier to explain but it is close .
Let's do a quick comparison here with Bitcoin (A) and USD (B)
* Very hard to comprehend, and way to complex
-see above
* Not backed up by anything or anyone
-bitcoin) backed up by its ability to resist counterfeit (imho)
-usd)
* High volatility
-bitcoin) experiencing unbelievable growth due to its intelligent design
-usd) well nothing is going to be that volatile if everything is pegged against it,
* No money or gold guarantees
-bitcoin) exchangeable for either ,anywhere on the globe, in moments, due to technology
-usd) used to be exchangable for gold at any bank. until the banking industry had this repelled. now there is no backing, except the threat of violence. which isn't a great thing to base currency on from a sociological or humanistic perspective.
* Lots of uncertain technological risks
-bitcoin) open source code, any of the millions who use it can see the code and if they find flaws, work to bring them to attention
-usd) their are a great deal of uncertain technological risks when the vast majority of created currency only exists as numbers in alternate ledgers. i.e there is no 'ultimate ledger' for money, and most of it exists in computer banks. if you are a bank with 1/5th of the worlds currency and you magically gave yourself 10$ million this would be incredibly, maybe impossible, to detect, if you had the control and know-how . not to mention the other inherent electronic weaknesses of old currency, credit cards are not a secure system and prone to abuse
* Very sensitive to fraud, illegal transactions & government regulation
-bitcoin) public block chain record system
-usd) can be counterfeited. often used for fraud, bribes, and illegal transactions. countless examples, but HSBC's huge drug cartel money laundering comes to mind. how about government regulation? when your economic policy is not dictated from elected officials but instead employees of Goldman Sachs, you have a problem. this is becoming more and more obvious and will continue to do so, because the problems behind this are too huge to miss.
On further consideration, stuff like this from the banks scares me a bit. Because so many people seem to believe this lies about fiat currencies, even when they logically know that they are incorrect or that the system is broken. It is so ingrained though that to even consider it being incorrect is unfathomable. It's like some sort of odd, logical/emotional dissonance
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Awesome work guys. It's great to see scammers get busted. Having been scammed a few times myself it sours me on even doing other thing than hoarding bitcoins now...so really makes my day to see scammers get busted.
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Lol. Not going to happen.
If the goal of those in government was to help the elderly, then maybe. But this is not the case. The goal of much of the monetary policy is to protect and enhance the asset portfolios of the mega-rich that run the country, everything is a secondary.
The Federal Reserve, who create money, is a private company of which profits 6% for every dollar they create out of thin air. Why would they encourage alternate, logic-based monetary systems or policies that would weaken their own power? The banks have power over the government and it is one that is much more prevalent than elections, so they'll try to hang on to this until the collapse comes, which is inevitable, because our world economic policies are fundamentally flawed and continue to get changed only to benefit the few people on top who actually pull the strings.
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Wow man nicely done ^^^^^^^ !
Big improvement.
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"3) Ukyo continued to accept deposits to WeExchange for over 2 months, knowing fully that we has unable to let anyone withdraw the BTC they deposited. "
Say that again this's incorrect. Ukyo you are full of shit.
He stated that the problem, that made it impossible to do even manual withdrawals, started around November 15. <nsa__> When did you first hear about the "other" issue?
<Ukyo> within 4 hours of disabling withdraws
<Ukyo> and stopping the manual ones
<Ukyo> rahter
<nsa__> date?
<Ukyo> dont recall
<Ukyo>Novemebr.. 15th? or something
From December 16: I have also disabled the ability to send funds to BitFunder already. ^I can confirm that the deposit address was removed from weex December 16th, because I checked weex just after his post.- The first issue with the bitcoind client that made withdrawals really slow was first reported by Lophie in the middle of October. So the deposit page was removed about a month after the first withdrawal problems appeared. He did do manual withdrawals in that time span though.
- According to Ukyo, depositing was disabled within a day of him being made aware about a second issue(the legal issue) that meant that he couldn't do even manual withdrawals anymore.
Either way, you are incorrect. What is the point of having this second account to publish FUD with Ukyo? Why don't you just keep it to your own account, less spam that way. |
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Expect the coins to be gone. It is highly improbable that Ukyo will honor the terms of the loan as he has shown criminal behavior, and borderline mental illness in his attempts rationalize his behavior.
Look at the facts:
1) Ukyo lied about all the coins that were being deposited to WeExchange being unavailable due to a technical error.
2) Ukyo owes millions of dollars of BTC to users who deposited to WeExchange and has not given any reason beyond 'the coins are gone'.
3) Ukyo continued to accept deposits to WeExchange for over 2 months, knowing fully that we has unable to let anyone withdraw the BTC they deposited.
I think it is safe to say after reading 1000s of posts on the subjects that it is most likely that Ukyo treated deposits to WeExchange as his own personal wallet. He then made some gambling investments that blew up in his face at lost all the money. He lost money on Labcoin, Active Mining, and likely sold BTC into cash thinking that the high of $260 was a good time to sell, when in reality , it is probably never going back to this figure again. Of course I can't say I'm 100% -- the only person who knows is Ukyo and he is conveniently not telling. Which should be a red flag.
He is thief and what he did was not only unbelievably stupid, it was just plain illegal. It is not even a matter of factors out of his control, he simply stole and lost millions of users' money. It is quite the mess.
If you are going go the route of legal action the good news is his identity is known. The bad news is a) legal action is expensive b) it is unlikely to recover much funds as he likely lost much of them. At the least though it would be satisfying to see him criminally charged, forced into bankruptcy, and have to tell us (finally) in a court of law what he actually did.
He's been buying for time now for 2.5 months, but it looks like finally people are starting to realize that they've been ripped off, and the house of cards is starting to crumble.
Stop trolling. 1. Incorrect 2. This is not supportive of your claims. 3. Incorrect You forgot to mention: 4. Ukyo has not dissapeared 5. Ukyo distributed proportionally funds that were able to be made available 6. Ukyo is clearly working towards gathering BTC at _least_ from ActM shares to be able to distribute to users also I had about 400btc of my personal funds tied up in the listed assets. Somehow that does not amount to the total of the issue. Jon why do you lie? This is all public record. Mostly covered in this thread of the six or seven threads on this thievery going on: https://bitcointalk.org/index.php?topic=337523.01) You said the problems were purely technical in nature at first. Then 'something' happened, which you have not explained, were you changed your tune. You changed your tune after it was infeasible that you were having a technical problem you couldn't solve and could not explain. 2) The people waiting for funds was posted and it was over 2 million dollars worth of BTC. And it wasn't even the full list of people who lost money. 3) The withdraw problems were first brought to your attention in the third or fourth week of October. Yet you put no warning messages up and continued to accept depositss even though you knew you could not pay them back until sometime in December (anyone can check that thread themselves for the exact date. And I'm not trolling. I'm mad about having my money stolen from me and I'm trying to warn others. There's a big difference. |
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The Nobel Laureate in Economics is a big joke.
You must, absolutely must buy into the bullshit fabrication known as contemporary monetary policy to get award this award. It is not awarded to anyone who sees things at all differently. (At least as far as I know, can't say I studied it much, pls correct me if I'm wrong).
As bitcoin is in many ways different than the prevailing popular believes in economics, of course a Nobel Laurete is likely to be opposed to it. This doesn't seem very surprising to me. Besides, many of these baby boomers probably just mastered the science of sending an email, I don't think they are even capable of understanding how bitcoin even works, it's probably as far-fetched as traveling faster than light to them.
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No, no, I AM HODLING.
Anyone who says otherwise is an impostor.
I'm the real Hodling.
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Slightly off topic, but what the heck is even happening with Gox? How could they be this locked up for so long?
I guess they are waiting for paper work to be processed that the gov either can not process quickly or is in no rush to. I mean for all the profits Gox was making they sure don't seem to be handling the problems well at all. I honestly don't remember how long it has been since you could withdraw... 8 months?
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That'd be awesome. I hope it crashes. I'd love to pick up cheap bitcoins.
I'm holding mostly fiat these days and I this makes me really nervous. I think the prospect of an economic collapse causing fiat to become worthless is in fact a greater chance than bitcoin crashing and becoming worthless, because bitcoin makes a great deal of logical sense, whereas fiat is mostly imaginary funny money IMHO.
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I've always been a bull but I think just with all the many governments doing turn-arounds and banning bitcoin, we are in for a prolonged slump. I think it'll go back down to 600 and stay there for a while.
We'd be doing great if the gov's weren't so anti-bitcoin, no doubt on the behest of the banking cartels. (China did such a 360 in particular it was like the people who really pull the strings just sent out the email to the world gov's recently: okay bitcoin ain't good, shut it down, it is a threat).
Bitcoin will still strive and do fine even if all govs' are against it, but I'm not foolish enough to think that this would not hamper somewhere between 60% - 90% of BTC's USD value if there was a concentrated effort.
I'm all good with that though, probably would at least purge out the abundance of scamming go on, such as Ukyo / Montroll's multi-million BTC theft and the plenitude of other scams going on all the time (yeah, I'm a little bitter these days, I admit it.).
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Been saying this for awhile. Bitcoin is so popular now that we are on a big race to the bottom.
What's the bottom? Well someone always is willing to do something for less, globally. Like I charge 10$ to jump around my house, someone, somewhere will offer to it for 5$, Then some other dude will offer to do for only a dollar ! Then and so and so, until:
For Bitcoin you are going to need next to free power, and a large amount of money to get into, and for those people, they'll be making just pennies profit a day. That's where we are going. That's just globalization.
Bitcoin wasn't as popular before so it wasn't the case, but now that it is much more widely known, we are racing to the bottom. It doesn't matter the industry that much, its the same in most fields.
I definitely don't think we are there yet. But I do think the good days of mining are over , and that is where we are headed.
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