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21  Bitcoin / Mining / ec2 on: September 06, 2011, 04:58:23 PM
Anyone have a mining AMI for amazon ec2?
22  Economy / Marketplace / Re: Whole 3 Bitcoins absolutely for free on: September 06, 2011, 04:43:53 PM
if you wnat you can just send those my way !!!

1HoeR3J4dr3G5RnnGhyNWjd1NxhDbGNJps

thanks ...



reading fail
23  Economy / Services / Re: 2 Jobs at GLBSE, one for Javascript and one for Ruby on: September 02, 2011, 08:51:49 PM
PMed on your forums about taking some of the javascript work.
24  Economy / Service Announcements / Re: [Dailybitcoins.org] Bitcoin faucet, sponsored by ads on: September 02, 2011, 08:42:53 PM
ah not many people targeting the area your site probably thinks I'm in I guess.
25  Bitcoin / Bitcoin Discussion / Re: Buy bitcoins using Google Checkout - btcnow.net on: September 02, 2011, 08:38:19 PM
This is interesting, I want to keep an eye on this guy.
26  Bitcoin / Bitcoin Discussion / Re: What's stopping companies from accepting credit card's for BTC? on: September 02, 2011, 07:35:22 PM
There is also an issue of the companies(credit, paypal, etc) in occasion themselves not allowing it. I know there was one site that used to do paypal for bitcoin that got shutdown by paypal.
27  Economy / Service Announcements / Re: [Dailybitcoins.org] Bitcoin faucet, sponsored by ads on: September 02, 2011, 06:47:47 PM
is the site winding down? There are fewer ads then normal on the site today.
28  Bitcoin / Bitcoin Discussion / Re: the exact reason why Flexcoin has a no links in e-mail policy on: September 02, 2011, 06:21:22 PM
I think the point is that if there is a link in an e-mail, it is clearly a scam.
29  Economy / Goods / Re: Spend bitcoins on amazon, Go Daddy, barnes & noble, etc with no transaction fees on: September 02, 2011, 01:27:55 PM
Tried using your amazon affiliate link for a small purchase I made yesterday. Any way to know if it actually worked?

Thanks for that! As long as you used the affiliate link to get to Amazon when you placed the item in the cart and did not click through to Amazon from any other affiliate link before checking out, it should have worked. If you want to be certain, you can PM me the details of the item you purchased and I can look it up.

Thanks again!

Happy spending!

oh oops I didn't go through your link until just before checkout, oops.
30  Economy / Economics / Re: What do you actually use bitcoin for? on: September 01, 2011, 05:43:43 PM
I bought stock at glbse.com and made donations at bitcoin-charity.com
31  Economy / Economics / Re: Thoughts for Improving Bitcoin's Popularity on: September 01, 2011, 05:41:37 PM
Mining is actually quite essential to Bitcoin, I think.  Those 50 BTC have to go somewhere, and assuming that Bitcoin becomes widely adopted, even a small fraction of that 50BTC will become radically valuable.  The more miners there are, the more the currency is distributed and the longer it would take on average for each individual person to sell their holdings.  It's like a communal investment that naturally helps stabilize the economy and increase demand/value.

Right, but if the difficulty continues to hover around the point where the average electricity cost to mine those 50 BTC is more than what those BTC will pay for, then the only people with a real incentive to mine will be those who are either stealing their electricity from someone else, are irrationally willing to pay a premium to get the bitcoins they want to spend by mining over a long period of time, when they could just buy then directly for less, or are speculators convinced that the price will go back up but still irrationally decide to mine as their way of "buying in", when, again, they could just buy them directly faster and more cheaply.  

I'm all for bitcoin succeeding, but it seems that unless miners can be compensated for more than what would be breaking even at near to whatever the common electricity rates are when using the most efficient hardware, then you end up with a "lowest common denominator", unethical currency system. I say this because I don't think you can claim to have an ethical currency system that is primarily built on the backs of individuals getting compensated for stealing electricity, nor can you say this about one that primarily benefits from irrational human behavior. Well, I guess you could argue that the latter is still ethical, in the sense that it is akin to "profiting off the proceeds of running a casino", but I don't think the former can be legitimized so easily. Now, there are also those who will pay higher than market rates to mine for their bitcoins, instead of buying them directly, simply because they want to support the cause, but I don't think that those kind of contributions alone can sustain it.

Collecting transaction fees to make mining perpetually marginally profitable, even for those who don't steal their electricity, may be the only way to go about maintaining at least something that can't be argued to be based in large part on unethical practices.
This is ridiculous.

The first mistake is assuming that the only cost of mining is electricity. In addition there is the capital cost of the hardware, with a trade off - FPGA are expensive but energy-efficient, while old GPUs are cheap but inefficient.

If the "average" electricity cost (whatever that means)  is higher than purchase cost, it only means that those who mine will be those who have a comparative advantage in doing so. These are people who...:

1. Can afford FPGA / ASIC (perhaps developed in-house) as part of a scalable, profitable business.
2. Already have the hardware for other needs, such as GPUs for gaming.
3. Live in a place where electricity is cheap.
4. Live in countries where there is a need to import bitcoins and it is easier to buy computers than to send money overseas for purchasing bitcoins.
5. Speculate that the difficulty will decrease.
6. Enjoy mining or think they can learn something from it, and are not straw Vulcans.
7. Last and least, irrational people and those who steal electricity and can get away with it even after the bill goes through the roof.

Relating to this my earlier comment, the average Bitcoin user is not any of the above, and thus shouldn't be introduced to mining.

ugh tv-tropes a huge thief of time
32  Economy / Services / Re: Need a Newegg Giftcard on: September 01, 2011, 02:07:11 PM
I assume she has access to a paypal account that she can't for whatever reason withdraw directly from, or withdrawl fees are greater then transmission fees.
33  Economy / Goods / Re: Spend bitcoins on amazon, Go Daddy, barnes & noble, etc with no transaction fees on: September 01, 2011, 01:26:16 PM
Tried using your amazon affiliate link for a small purchase I made yesterday. Any way to know if it actually worked?
34  Economy / Gambling / Re: [One shot] last man wins on: September 01, 2011, 01:15:27 PM
Thanks for pointing out the typo, it was supposed to be .01 but is moot since no one did it.
35  Economy / Economics / Re: Bitcoin parity: what is a bitcoin worth? on: August 31, 2011, 12:54:23 PM
I would pay one bitcoin for a nice steak dinner.

Eh.. I would pay that much for a pizza. It's so much better than steak anyways Smiley

You must not have had a good steak before.
36  Economy / Economics / Re: Thoughts for Improving Bitcoin's Popularity on: August 31, 2011, 12:51:05 PM

While I haven't given sufficient thought as to exactly how Bitcoin can address these desires, I have a few general suggestions.  The first of these is simplification and security rolled into one.  Find a way to merge the Bitcoin client with a miner ALREADY REGISTERED TO A POOL.  So, in other words, the only thing to do to get started would be 1.)  Download client/miner  2.)  Click confirmation email which will confirm your account and provide you with username and secure password 3.) Start mining.  Perhaps an automatic account on Mt. Gox or TradeHill could also be created when downloading this client.  

Bad idea.



I guess I'd like to ask you why you think this is a bad idea.  I guess I imagined that they would still have the option to change pools/exchanges if they wish, but I was suggesting this as a solution to overcoming the technical difficulty of startup mining.

Because there is already too much of a threat of a single mining pool getting too large a share of the mining and being able to manipulate the blockchain.

 However I've seen things about pool hoppers, I haven't looked at how they work but would they solve at least this problem? As long as they weren't all synchronized and hopping to the same pool at the same time.
37  Economy / Gambling / Re: [One shot] last man wins on: August 30, 2011, 06:17:25 PM
allright, looks like I'm going to have to call this one a failure with a grand total of 0 people participating. Will go over all the suggestions later and try to come up with something better next time.
38  Economy / Gambling / Re: [One shot] last man wins on: August 30, 2011, 01:59:38 PM
get them to despoit to your account, then you pay it to charity

I thought having people donate directly to the charity account would give this more of an air of authority. It may be a moot point though since last look today nobody actually followed through.
39  Economy / Marketplace / Re: We made our first USD donation! bitcoin-charity.com on: August 30, 2011, 01:31:58 PM
in the top donation list, do ties go to the older or the more recent donation?
40  Economy / Gambling / Re: [One shot] last man wins on: August 30, 2011, 01:09:00 PM
I like the idea of getting people to donate to a charity, but it's not really a good gambling type thing..... you just arbitrarily deciding when to end it, and also having people "claim" donations is not a good way to run something.

That's why I stated that I would make the payment to the same address that gave the donation to keep people from claiming donations that weren't theirs.
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