Reading up on the deterministic wallet it seems that both Electrum and Armory determine future addresses from a seed value that you keep safe as backup, which it can use to re-determine your addresses.  So you don't need to keep re-backing up your wallet like with bitcoin-qt or multibit if you create a new adddress.

When you send bitcoins from an address it will send the desired bitcoins to the address you told it to, and any left over bitcoins will be sent to a completely different address.  I believe armory is deterministic in that you don't need to keep track of all the newly created addresses.  But if it doesn't, then a paper wallet won't be sufficient unless you print a new one each time you make a transaction. 

You don't create the address.  You just randomly generate a private key and use the corresponding public key as your address.  Imagine a wall of PO boxes with a huge bucket of keys.  You grab a key and then you get to use the PO box that it unlocks.  There's just so many PO boxes that the chances of any person randomly choosing your key in the bucket is really small.

Are you sure it's a 60A 120V circuit?  Usually 15-20A is the max in the US.  Are you in the US?  It sounds like you may have 60A total or maybe it's a 60A 240V circuit.

Ubuntu is based on Debian

When you make everyone better you make your situation better at the same time.

If you created both addresses then you could record when they were created and that would be fine.  But there's no public record.  Addresses aren't actually created either, you just pick a random one to use.

Does it work with just one GPU?

It draws 30W from an external power brick, like a laptop uses.  It doesn't get power off USB.

The wallet contains the addresses (public) that you use to receive bitcoins and the keys (private) that you use to send bitcoins.  You don't need to have your computer on to receive them to the addresses in your wallet, but you do need it on to send them.  It's because the bitcoins that are "received" are really just a message broadcast to the network that your address has X amount of bitcoins in them.  To send them you need to broadcast to the network that you're sending them and authorize it with your private key.

For 500 MH/s he pays 0.011 BTC in 72 hrs.  According to http://www.bitcoinx.com/profit/ 500 MH/s would generate 0.084 BTC in that amount of time.  So he keeps 87% and has your 0.02 capital for 3 days.  He must buy more hardware with the capital and it acts like a loan for him, where he borrows 0.02 for 3 days and pays 0.011 (55%) interest?

It's interesting that the % payback decreases as you "invest" more BTC.

Mining in a pool actually gives you less because the pool charges a fee of 1 - 5%.

Does LocalTill work for any other exchange besides bitfloor?  They're really easy to deal with.

They just dropped the limits to 50/50. I'm not sure if MtGox has a limit on buying or only selling.

Oh -- also you can torrent the blockchain to get started faster.

If you're worried about the time it takes bitcoinQT to catch up, as the person above said there are other computer based wallets that don't require you to wait as long to get the blockchain -- multibit is another that wasn't mentioned.

At least it keeps the spam to this forum, easier to monitor I guess.

Hello Hello
Always fascinated with bitcoins, time to finally join in on the discussion I guess.