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isn't there legal precedent for criminal charges taken against individuals who stole world of warcraft items? even if the courts don't treat bitcoin as currency or a derivative, there seems to be a clear path for legal action against the theft of digital assets of value.
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i'm not in the "BFL is a scam" camp, but the justification for almost complete lack of communication with their customers who have waited months for their product, through repeated moving goalposts for expectation of deliver, because BFL is focusing all resources on getting product shipped, is silly. btw, i notice two BFL units up for bidding on OTC, offered by luke-jr. http://bitcoin-otc.com/vieworderbook.php?sortby=thing&sortorder=ASC&type=&nick=&thing=BITFORCE+SINGLE+FPGA+MINER&otherthing=&eitherthing=¬es=
don't know that this means he's received them, or just got his shipping email, but we desperately need to see more confirmations of delivered units. i still hope to become a customer of theirs, but the track record is spotty at best. |
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added some bitcoin love as well.
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thanks for the replies.
so there is literally no point to solo mining at any hash rate? even if you had 20% of the network capacity?
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how does p2p pool give you the best of both worlds?
lets say 50-100GH/s, you'd still recommend p2p?
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i don't know if hardware is the best place for this, but its about hashing capacity so i thought maybe.
from what i've been reading, it seems the advice is given that it is more profitable to mine with a pool.
if that is correct, at what hash rate under your control would it be more profitable to mine on your own, paying no tax and keeping all the transaction fees?
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  Not sure how much more clear it can be. There's also a sticky thread. so you expect us to read the stuff on the page when we are signing up? sheesh... |
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what depth of reputation would you say would make people comfortable?
That really depends on the level of trust required, size of the transaction, longevity of the trust history, etc. If you are offering MoneyPak to buy bitcoins, for instance, you probably would find a willing trader even with no history. If on the other hand you are trying to buy a few hundred dollars worth of bitcoins with PayPal you'll need probably a handful of successful, smaller PayPal purchases extending over several weeks or longer before you'll find a trader willing to do that deal. If you are selling, then the use of an escrow nearly eliminates any reputation requirement. Especially if the escrow does dispute arbitration -- like: - http://www.BTCrow.comalso,any ideas how i would go about proving i am the person on the WoT that i claim i am satisfactorily?
Well, I suppose one way would be to meet someone else in the -otc WoT who would verify your identity in-person and then mention that verification in that person's rating for you. Some people on the -otc will not want to link their -otc WoT profile with their real-world identity, so the -otc WoT might not be the best method for what you are describing. There are some commercial services that will help with identity verification, if that's more what you are looking for. i'm just concerned with revealing to much about the idea right now, but it would involve tens of thousands of dollars at current exchange rates over roughly a recurring 6 month period. as for the id verification, i want to find the best balance between people feeling safe and secure having me hold those total sums, and protecting my family from the wack-a-doos you inevitably find online. |
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Yes, yes and VERY yes.
Consult with your lawyer but financial licenses are expensive and hard to obtain in the US. If your serious, get a corporation and bank account in a country with lax banking laws and financial regulations like Hong Kong, Malta...
seems like i would need even more ways to estiblish myself as a trusted entity as offshore orginizations are viewed very skeptically. i'll talk to a lawyer and see what he says. many thanks. |
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If your planning on doing high volume trading or transactions, forming an LLC will not only give you some trust here, but also protectional against liability.
Depending on the state, you can get a lawyer to do it relatively cheap. Its not difficult to do it yourself and its significantly cheaper. Stay away from those legalzoon and bizfile companies as they charge a decent premium for basically nothing. A local lawyer who you can walk over to if you have any questions and him being cheaper is the best value.
I know in NY State, it only costs me ~$300 to open my first LLC in state/city fees, my accountant did it for free for me, but I can't imagine him charging a commission more then $50-$100
-Charlie
cool, i'll definitely make some calls next week. are there any specifics you need to state about the nature of the LLC, its operations or intent? it seems bitcoin hasn't been classified by the government, but if my idea involved paying interest in bitcoins, on bitcoins deposited, do you know if i would fall under any financial regulations, or is BTC still novel enough that i don't need to worry about it at this time? |
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thanks for the link. i thought about registering a company. i'm not incredibly familiar with the ramifications. does that offer safety to potential customers? |
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I know what im doing when it comes to computers, ive had 3 websites , made 2 iphone apps and did other "things" but it took me forever to find out how to become a full member YOU HAVE TO TELL NEW MEMBERS TO POST IN THE NEWB FORUM WHEN THE REGISTER .
yeah, i think at the least a pm with the relevant information would be a good idea. |
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This is all very odd.Maybe it's a US multinational or a university (as I was taught in computing that the low range IP addresses were reserved for US academic institutions/multinationals). I wouldn't rule out a multinational/university trying with BTC mining.As more people become aware of mining (BTC for profit),more and more entities will be getting in on the act. I checked the IP with this : http://www.techzoom.net/tools/check-ip.enI typed in 0.0.0.0 and this is what showed up: ... Question is what business does ICANN have with mining bitcoins? Maybe they're trying to obtain them or a possible imposter using an IP mask to hide the fact that he's hogging the network. umm, the relevant bit is right in your post: Comment: This block is assigned for use as local
Comment: identification addresses. 0.0.0.0 refers to
Comment: "this" host on "this" network. 0.0.0.0 what that means is that it is an ip that is only used on local networks, not the internet. like 192.168.2.1 is usually a home routers ip address (not an internet ip address) and 127.0.0.1 is the localhost, which is basically a reference to the current computer. |
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start the process of becoming verified on mtgox, then will get myself to the "trusted" account status. can this information be shared
When Mt. Gox verifies a customer's identity (e.g., Level 1 - Verified, Level 2 - Trusted) it is for Mt. Gox's own internal AML compliance: - https://support.mtgox.com/entries/20920158-aml-policiesThey do not share this information. You may want to look at the #bitcoin-otc marketplace's Web of Trust (WoT). While it does not involve verification against state issued documents, it does offer verfication that the party you are trading with truly is the party that has acquired the history trust shown: - http://bitcoin-otc.com/trust.php - http://webchat.freenode.net/?channels=#bitcoin-otc-foyerthanks for the reply. i've come across mention of the OTC market and the web of trust. basically i'd have to start trading just for the sake of building a reputation, not the end of the world i suppose. what depth of reputation would you say would make people comfortable? also,any ideas how i would go about proving i am the person on the WoT that i claim i am satisfactorily? |
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If an entity decided to spend $30M to attack or take control of Bitcoin, they would NOT got out to buy GPUs in retail stores. They could design a 65nm ASIC for a couple of millions $ of NRE and then produce a ton of them probably for less than 100$ per GH/s (wild guess based on 45nm FPGA based systems going for close to $1 per MH/s in single quantities today. A dedicated, mass produced ASIC design should be able to be 10 times more cost efficient than a retail FPGA design). Heck, if anyone wants to give me $5M, I'm willing to give it a shot.  i don't have the specific numbers or ability to work it out, but i know its a laughable idea that a powerful entity with the intent of dominating the compute power of the network would hit up newegg for gpu's. the absolute closest this entity would come to buying off the shelf would be to get the most powerful 22nm FPGA chips on the market today, and fab their own boards. most likely though, as mentioned they'd just build their own custom ASIC solution. those pointing to the current hash rate of existing super computers are also missing the mark. those configurations are not optimized for efficient hashing. the same money (cost to originally acquire adjusted for inflation) a top level super computer cost, invested in a custom system designed specifically for hashing, would dominate beyond 51%. |
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so i'm very new to the bitcoin community, and have an idea for a business venture that will require trust from people interested in getting involved.
with bitcoins irreversible nature, i'm relatively comfortable with my part, but short of posting a copy of my drivers license on the net (if i was single i probably would just do that, but with a wife and two young kids, i'm not super excited about that idea) is there any way to acknowledge and address valid trust issues of potential "customers"? i understand bitcoiners have been burned before, and i'd like to put those concerns aside right out of the gate.
i have no problem providing relevant ID and documentation to a few already trusted members, but that would seem to limit the potential audience.
this week i'll start the process of becoming verified on mtgox, then will get myself to the "trusted" account status. can this information be shared, an if so, does it hold value amongst the community?
any ideas are very welcome.
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This week I lost my job, my wife is starting to talk to me about divorce, and my grandfather died. Then this post happened.
BEST WEEK EVER.
damn, if your for real, i'm genuinely sorry to hear it. glad you've managed to keep your sense of humor. |
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kind of rough on a guy just for not nothing something easy to not know.
whoa. i had to read that a few times. i'm gettin tired. lol, i must be as well because i screwed that sentence up good. i'm just going to go 127.0.0.1 |
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kind of rough on a guy just for not knowing something easy to not know.
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looks like they have raised the price on the rig box to $30,055.00 ... and have removed bitcoin as a payment method
still showing $24.9 on the product page, but $29,890.00 on the detail page. that a 20% price increase...which is huge. |
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