Just got an email which managed to defeat all the anti-spam bastions and thought : hey it might make me 1 BTC. Grammar and punctuation is preserved the only change is surname. From: Mr. Fred B. A. 165 Avenue Ramco due Blvd. Lome - Togo Republic. Email: faga1981@yahoo.com Date: 28th of May, 2011 Greetings, This is very urgent & important message for you concerning the death of your late relative {Engr. M. S. Doe} that bears the same family name with you. Note,there a funds his funds he left behind {€19,500,000.00 Euros}. Please contact me at: faga1981@yahoo.com for more details with this information below: Your full name: Your email address: Phone number: Waiting for your reply immediately for more details at: faga1981@yahoo.com Mr. Fred. |
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If you want to buy significant amount of bitcoins i.e. thousands there are basically 5 ways to do it. 1. Wire money to mtgox or another exchange and buy BTC there 2. Send cash in mail to a respected cash in mail trader in exchange for bitcoins 3. Mine yourself. 4. Buy a mining contract. 5. Do a private OTC deal. They all have pros and cons but none of them involve credit cards or paypal or other such method which allows chargebacks. Given that btc is widely accepted in Singapore Niceee! |
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Alright, all done! Bitcoin address now also features on our website. Check http://www.stichtingfairchance.nl, right side under 'gegevens' (details). Thanks again for the tip. Great stuff. If possible consider also having proper https on your site because there are attacks possible which substitute bitcoin addresses (Tor exit nodes etc...). Also consider publishing some kind of news on site or press release about you starting accepting bitcoin donations. This might draw some publicity and ultimately result in more donations to you. I wish you the best of luck. |
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Would you have have any problems if somebody (probably not me) took you up on your offer and divided that action up on GLBSE? (Of course they'd take a small management fee)
It is none of my business what my clients do with their mining capacity, as long as I am not burdened with significant administrative overhead. Funding it via GLBSE and than distributing 'results of calculations' as dividend might be a great idea for someone. Moreover, it is certain that I will not list on GLBSE myself, because my legal counsel wont let me. Therefore, whoever uses GLBSE for this will not face competition from me directly. |
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It got up to 86 here in New Hampshire the past few days. It's HOT.
Suddenly, mining operation in UK where average temperature is 10 C and rarely lover that 0 C in the winter plus lots of cold winds does not sounds as such a bad idea. |
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AND, this is the first time I've seen the block average at bitcoincharts.com under 6/hr!
CRAY was testing their new supercomputer on the Bitcoin network and realized they were losing money because it has nVidia GPUs?  LOL! thank you for this one. |
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Ohh you mean this one... You work at a school, and your job is IT Director essentially?
Yeah, so I have access to the root account of a lot of the computers in a lot of the labs. I figure this summer, when the computers aren’t being used, I’d basically have my own little server farm.
Now explain what you are doing with the computers and Bitcoins?
On the computers there’s a Daemon that runs at startup that basically calls a specialized script; each of the computers has its unique username and password, logs into a server, gets a chunk of mathematical work to do, and reports back when it has a solution.
And how many computers do you have running it?
Right now I have it on about 15. I haven’t decided yet whether or not to to scale it up to the maximum I could do, which is about 60.
Is that illegal?
Well, Bitcoins are legal. Using the computers to do this? I am pretty sure that’s a grey area. I’d be hard-pressed to tell you which law I was breaking. I am pretty sure my employers wouldn’t be thrilled if they found it though.
Do you think they would even understand what was going on?
Most likely not.
I am sure that school's legal counsel will be less hard-pressed to find a few ways to press criminal charges on felony level (in US). Ignorance is rather bad defence. |
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Good point.
Than I suppose from time to time when employers see electricity bills some rogue IT people get fired.
But note how decline of hash power coincides with difficulty change. It was almost the same before the last time we had drop in difficulty.
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By looking at sipa's charts I can say that if you disregard anything but the purple and red lines than there is no mystery. Sensitive hearts of some OCN script kiddies could not take difficulty change and their GPU's dropped off.
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On second thought, you're right. If I had that kind of income, I would probably drop that kind of money on this, given a sound business plan.
Bitcoin geeks know it is a sound concept. This is a low-risk, high-reward start-up. Are you willing to link to a plan here or is that under NDA?
The business plan is essentially in my original post above. I make no representations with regard to future valuation of BTC, bitcoin difficulty, prices of electricity etc. I however give an estimation of costs involved into deploying and operating 1 Ghps. You do not expect me to provide cashflow projections here, do you? Also I am not soliciting investments into my company. I am offering investors to outsource bitcoin mining to me on partnership basis. However, I am prepared to discuss my offer in details privately. |
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I highly doubt you are going to find venture capitalists of that caliber here.
I have no such doubts. There are already people onboard with this and more people are in DD stage. |
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Q3. What type of hardware are investors investing in? A3. GPU based high end mining systems. Only high quality components with mix of 6990's and 5970's. As they say... a picture is better than 1000 words and I have two pictures for you. This is shelf 1 in DC1, fairly typical unit, DC3 will be quite similar.   |
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F.A.Q.
Q1. I want to invest 20 BTC. Where do I send?
A1. Minimal investment is 15 000 GBP. Should you wish to invest BTC or USD or SLL or Mongolian Tugrics or carrots you would need to convert it to GBP. Fiat currencies can be converted fairly efficiently to GBP using companies such as xe.com and transferwise.com. Bank details for wire transfers are provided when contract is signed.
Q2. Would you have have any problems if somebody took you up on your offer and divided that action up on GLBSE?
A2. No problems. Moreover, it is certain that I will not list on GLBSE myself, because my legal counsel wont let me. Therefore, whoever uses GLBSE for this will not face competition from me directly.
Q4. Do you hand out guarantees/contracts/SLAs that include also commitments/penalty payments from your side if a rig goes down?
A4. Indeed I do offer a SLA in form of zero-variance computational results delivery. When a customer elects zero-variance option he will receive on daily basis as many bitcoins as statistically expected for given Ghps hashing capacity. This will happen regardless of rig's uptime. For comparison, some pools charge as much as 10% for "reduced variance" which is not even as good as my zero-variance delivery.
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[Update:]Currently there is only one spot for order with value about 15 000 GBP. Please note that cost estimates have been changed to 900£ initial and 120£ monthly recurring.
My name is Vladimir and I've been in bitcoin mining business since late 2010. I have qualifications, experience and passion suitable for this business and I do it on full-time basis since January 2011. It seems that this is now the right time for expansion and therefore I offer for your consideration this call for investors to participate in an exciting bitcoin mining project.
I have recently secured a site for new data centre, let's call it DC3. DC3 has a benefit of secure environment for bitcoin mining rigs with plentiful electricity supply at relatively good prices with potential to negotiate an even better deal once the operation starts consuming lots of electricity. My DC design (tested and proved on previous DC's) is expected to have better than 1.06 PUE. For example, Facebook, recently boasted that they have a new state of the art DC with PUE (power use efficiency) of 1.07. As an another example a typical commercial DC with refrigeration(aircon) based CRAC's has PUE above 2.1 This is also known as the second watt problem.
DC3 site has potential to accommodate up to 400 Ghps worth of GPU based equipment.
Since January 2011 I've sold and fulfilled a significant number of mining contracts and also have more than one investor on board with terms substantially similar to what is proposed here.
The proposed scheme is simple. Investor funds deployment and operation of the hardware and all reasonable and relevant out of pocket expenses, I do all the leg work. The results of calculations are split 65/35 for investments above 15k£ and 70/30 for investment above 60k£. For example, in case of 70/30 split, 70% of bitcoins mined by hardware goes to the investor and 30% to the operator.
Moreover, property rights on hardware (mining rigs) built and operated under this agreement are split in the same proportion.
It is estimated that it will cost, on per Ghps basis, 900£ to build and deploy the hardware followed by 120£ per month to run it.
There are many options on what to do with hashing capacity for investors. They could point it to a pool, get zero-variance delivery from me, they could resell it in place, offer their own bitcoin mining contracts to the public, sell bitcoin option or futures contracts backed by mining capacity etc...
Should you be interested in this opportunity please contact me for more details.
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...
Any time the difficulty starts to climb, promptly start auditing everyone's connections to find out where the rogue processing is coming from, maybe also turning on the town's cyber-defense GPU-equipped unit that can all by itself match the power of all the CPUs of all the verified / authorised participants.
...
Now what will they do when someone rents and unleashes some awesome hashing power from me and others which would dwarf their GPU defences. |
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Satoshi's little fortune interferes with sound sleep pattern of some noobs apparently...
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The CIA created bitcoin? That's the first time I've heard that. Seems like the creation of bitcoin harms, rather than protects, the US Dollar. But hey, it could've happened!
Yep. Is Tor good for US government? Now who created Tor? |
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If the Bitcoin community adds any form of currency creation beyond the initial decreasing reward for securing transactions, I will sell all my Bitcoins and move on.
Price stability is a pipe dream of central planners. The larger Bitcoin becomes, the more stable it will become. If you have a good way to force people to use Bitcoin without forcing people to use Bitcoin, please share.
I concur. Price stability is only approximated, and then only by (and some people think this is ironic) speculators. If bitcoin moves up too much, speculators sell, lowering the price. If it goes down, they scoop up bargains, raising the price. No need to bother with liquidating bitocoins in "community adds any form of currency creation beyond the initial decreasing reward for securing transactions" scenario. We will just split the blockchain and continue biz as usual using old rules. |
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Ohh come on.. I think a popular conspiracy theory is right...
CIA (or some department in US intelligence community) is Satoshi Nakamoto. They've mined by now 2-3 million bitcoins for themselves.
Someone must have seen the writing on the wall street and as a true patriot found a way to serve the country and secure CIA budget for coming years of turmoil at the same time. Tor was a little experiment that went well... than they've released bitcoin into the wild. Simple!
I've asked Gavin to report back to us if he hears giggling from backbenches during his presentation in CIA. This would confirm and validate this conspiracy theory.
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I think the best way to do this would be to establish a basket of commodities that everyone can agree on, and have this be automatically computed and posted in multiple locations.
I barely understand what this would mean exactly. Feel free to elaborate. It sounds like he is pushing IMF agenda of replacing about to implode fiat pyramids by a new bigger one... what is the name SM* something... |
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