Unless you have big power, any of those chinese pools are going to pay very poorly. I switched my miners back on today, and lucky I got in on 3 blocks found today after a slow painful week.

I've been mining another currency at the moment which when converted to BTC pays better than mining any of those junk chinese pools.

If you support those chinese pools(f2pool, ghash, btc china etc) you're part of the problem btc is facing. Get out of there.

I found out about bitcoin in my cryptography class at uni about 4 years ago. The teacher was showing us algorithms and what not. I got interested for about 10 minutes(I think its value at the time was 9 cents). I missed out too.

Seems like a load of bull. This is open source, sure people can sneak code into it but it will be picked up. I'm also sure most people here now have found a wallet they trust and tested and will stick to it. I have no reason to swap wallets. I am happy with the wallet I am using and I can trust it and trust the machine I use.

If in doubt, use offline files from paper wallet websites, check the code and generate cold storage that way. If the code is clean, it is impossible for the hacker to obtain any private key since the machine used is offline, there is no leaked data and only you can have this information. Then just transfer your btc to that and store them in a safe.

This is why people don't use BTC. People who don't know what they're doing will probably get stung by a dodgy wallet or website and be deterred from bitcoin forever. Bitcoin is not user friendly.

Think about how many people know about bitcoin, then how many people mine bitcoin, then how many invest in bitcoin. The numbers are very small. Bitcoin is being ruined because its being abused by the Chinese. Why am I here? The concept is brilliant. The execution by the users is poor.

Bitcoin had potential. I've used bitcoin to exchange for goods with other bitcoiners, I do not support big companies who use bitcoin as a liquid item to dump for fiat. These people ruin BTC. They don't care what the BTC is worth, they only care about how fast it can be changed over to cash. Imagine you woke up tomorrow and BTC rocketed up to $1000. The amount of dumpers will flood the market with BTC and it will fall faster than last time.

There are many skeptics and for the right reasons. I'm a skeptic but I still support the product. I'm not here for profit, I'm here to use an alternative to fiat. If I wanted to transfer $500 to a friend via the internet, it could take 3 - 5 days. Bitcoins lets me transfer an particular amount in about an hour or less depending on fees. Fees are put back into the network, not one persons pocket.

Silly question, I'd say half a million BTC. I'm pretty surprised people think BTC will be worth 10k lol.

F2 Pool is bitcoin cancer. Anyone who uses it and isn't in china is a fool. It is one of the slowest paying pools you can mine if you're running less than 20thash. There are much more effective pools to mine. If you are mining F2 Pool, pull out and put your power into Bitcoin affiliate. For PPS they do extremely well. BA and Slush are the only pools I mine for BTC. Don't support those china pools aka the btc dumpers.

Maybe I'll come back when the btc is a little more stable. At the rate slush's has found blocks, I'd be paying 10x what I would have earned for these last two blocks than I would have in power to find them.

My rental ran out. I haven't seen a block take longer than 24hrs in a long time. I'm done with mining btc for now.

I was under the impression that you essentially need one backup and the only time you need a new backup is if you add a new address. I make multiple backups(4 USB, 4 cold HDD) but haven't made a recent update since my addresses have not been added to in over a month.

For clarification, what could he have done wrong here? Why would the file become corrupt? I made a backup of my wallet.dat to multiple locations and from what I was aware all you need to do is replace the old file with the backed up one. Are there any in between steps? Or is it a copy paste into directory and the file is restored?

For extra backup though, I exported my private keys to an encrypted file on cold storage.

I think we will see $150 and less by end of January. I think < $100 by mid Feb.

SR will be the medic to bitcoin.

When you consider how small Slush pools hashrate distribution is, you'll realise what "luck" is when we find those blocks with 1 - 3hr round times. THAT is luck, what is happening now is normal. Want to test your own luck? Mine with 6th, you could find a block in a couple months or 33 years.

I'm dedicated to this pool. Yeah its a gamble, but I invested some of my BTC in extra mining power. If we find a block in the 17hrs, I'll be happy. If not, I won't be fussed about it. The whole bitcoin thing is becoming a bigger gamble every day. Stand to lose more than you earn. People are still expecting huge bounces. I won't expect any bounce. I'll just do what I can afford until its over.

I'm going to try rent some hashing power. I found a couple other sites, currently trying out mining rig rentals. Seems pretty good and straight forward.

I really believe the bottom is going to be much lower than $150. We will crack the $1xx tonight. Dump galore. People thought $280 was the bottom, then $250. Any home miner still running this and pay any power bill will be playing this game at a loss.

Check out this buy order on an exchange.

0.01000000   100.00000000   1.00000000

I think this guy was born a retard. He wants to buy 100btc for $0.01 each. There are significantly more buy orders under $200 now.

The transactions are legit but they are just dummy transactions(sent back and forward) to create the impression there are still many transactions happening. If you sent 0.01btc to your second address 20 times and send them back 20 times, that's 40 arbitrary transactions.

My miners will not be switched on and have been switched off for the last few days. This is the downfall, there will be no recovery. Why? The chinese farms which are still holding coins will rapidly dump what ever they have. Thank those pools for killing the btc. People only cared about the liquidity of the btc and that was it. Get it, sell it for USD. Get it and sell it. No one actually used it.

I actually bought a couple items off eBay using my BTC to other BTC users, not just dumpers. But now they have to dump because soon, these will be worth pennies.

Bitcoin had potential to be revolutionary, now its being murdered and just a way for people to try make a quick buck. I won't sell my miners. I'm really enjoying the fact that if the BTC price drops, asics value will drop, no one will buy these china machines anymore and so forth. Hopefully that boots a lot of the giants out of the game and the btc stays at around $10 - $20 usd a piece and its mineable for those dedicated to mine from home.

It CAN pay out, depending where you mine and on your luck. I've done quick calculations, no matter what you rent at any given price if you used a PPS pool, you will lose money.

We pay .21 per kw down in Aus. That is residential. Not sure if you can get cheaper power on industrial or business contracts/packages.

Thanks for breaking my brain.