Anyone else thinking of legal actions? MtGox has now stopped their support as well, it seems.
Certainly, yes! We customers have deposited a lot of money there, and that money cannot just evaporate. They can be frozen, ot stealen. MtGox should provide more info now! How much more info do you need? They explained they would shut down for a while. They explained they are back with several new banks, but it will take a while to ramp up and to work through the backlog. They explained new requests would not be processed until the backlog was handled. Doesn't look like the backlog is being handled though... I've seen several reports of funds being received in the past few days, but feel free to continue worrying. It will remind you to be careful who you give your money to next time. |
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You can only make money with money. Just like in the current financial system.
Bitcoin isn't a magic money machine. That would be a scam. Your statement is true no matter what the asset, so long as it is a real good. The part you are missing though is time. You can only accumulate value with labor. It doesn't matter if it is shoveling rock or trading companies or assets. Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it. Which law of economics is that?  Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart. First time I have mentioned it, ever. Your as in the way a newscaster address the audience, although perhaps our would be clearer. No need to get defensive. "Your as in the way a newscaster address the audience, although perhaps our would be clearer" - that's not even close to English my friend. Go back to school or shovelling rocks. Now back to OUR regularly scheduled "wishing friedcat would let us know what was up" and "wondering why his node sucks". Does that make it clear? |
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kano mentioned some time ago libusb might causing those issues and I guess he's on the spot. As far as I'm aware all miners reporting sick/zombie AMUs used a wheezy distribution. The wheezy libusb version is quite outdated. On the other hand e.g. Arch Linux is using a newer version and cgminer 3.2.x working fine as far as I can say. But just guessing.  +1 for Arch Edit: Not that you are one, but Arch Linux is not for Linux Newbies. Please be comfortable with the command line before switching. |
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You can only make money with money. Just like in the current financial system.
Bitcoin isn't a magic money machine. That would be a scam. Your statement is true no matter what the asset, so long as it is a real good. The part you are missing though is time. You can only accumulate value with labor. It doesn't matter if it is shoveling rock or trading companies or assets. Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it. Which law of economics is that? Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart. First time I have mentioned it, ever. Your as in the way a newscaster address the audience, although perhaps our would be clearer. No need to get defensive. |
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No matter which whale wins, there will be a feast. |
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Well tried, but no.
two whales with opposing interests ? Can there be so many whales in a small market like this? two whales is not so many |
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You can only make money with money. Just like in the current financial system.
Bitcoin isn't a magic money machine. That would be a scam. Your statement is true no matter what the asset, so long as it is a real good. The part you are missing though is time. You can only accumulate value with labor. It doesn't matter if it is shoveling rock or trading companies or assets. Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it. Which law of economics is that? Warren Buffet doesn't have the bank account the size of a planet by working 7200 hours a day. Work smart. This is off topic, but he has certainly spent his share of time studying his potential investments. Yes, work smart. But you still have to work. Now back to your regularly scheduled wishing friedcat would let us know what was up and wondering why his node sucks. |
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I've been thinking about the low number of transactions per block issue and the assumption that we aren't a very well connected node. This made me realize that if we aren't a very well connected node, then our orphaned block rate would be higher than normal as others finding blocks around the same time will be quicker to 'spread the news' and will therefore be the winner. I then checked the blockchain.info orphaned block page https://blockchain.info/orphaned-blocks and sure enough, a high percentage of orphaned blocks are from AsicMiner. I haven't run the numbers but I have a feeling that we are leaving a HUGE amount of bitcoin on the table. Not only are we missing out on a huge amount of transaction fee's, but we're solving blocks that we aren't even getting credit for. It seems to me that peering off a well connected node should be a simple fix. And once again I'm wondering if friedcat should look into p2pool. Even though getting better connected shouldn't be hard, with p2pool you have 2 different p2p networks that should each broadcast your blocks/transactions giving you even lower latency. |
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I've had a similar problem with cgminer 3.3.2
There's a 3.3.2? I'm still using 3.3.1, which is working great for me with USB Erupters. Of course I only have 15 of them with USB 2.0 Hubs. Opps I think I meant 3.3.1, but mostly I meant latest master from github (805672fb51f4219e8c5848dc761509d32bffde9f -- I think it identifies itself as 3.3.2, sorry I forgot it wasn't released yet). I tried master from github first when I couldn't get 3.3.1 to work. I was about to blame the hub when I decided to try building 3.1.1 as a hail mary. They're still working on the USB 3.0 Hub support. Which was the reason I bought USB 2.0 Hubs. Glad your working at least. Sam For me USB 3.0 hubs do not work in USB 3.0 slots, but if I plug them into USB 2.0 slots they work fine. It might be worth a try if you already have the hardware. Oh, right. I forgot to mention that I excluded the hub as the problem before going to 3.1.1 by reproducing the findings with the USB Eruptors plugged in directly to the computer. I observed the same behavior where individually they work fine but if two were installed each device would mine for a bit and then enter into some sort of standby mode with solid leds (they don't both enter that state at the same time--one will get there sooner than the other). Then after a few seconds both will start hashing again simultaneously. That pattern just keeps repeating itself. I didn't time it but my guess is ~15-30sec. The computer itself is an Celeron-based Intel NUC that only has USB 2.0 ports. I don't know if it matters but the the second miner came from BTCguild and was "branded" (I assume via the Luke-JR method) but the first comes from CanaryInTheMine and is unbranded. The udev rules didn't care. Looking back through the logs did finally notice one thing. When running the 3.2.x or github version, this happens once per reboot when cgminer is starting up: Jul 16 00:47:02 ohms kernel: [ 10.527272] cp210x ttyUSB0: cp210x converter now disconnected from ttyUSB0 Jul 16 00:47:02 ohms kernel: [ 10.527304] cp210x 2-1.1.2:1.0: device disconnected Jul 16 00:47:02 ohms kernel: [ 10.588515] cp210x ttyUSB1: cp210x converter now disconnected from ttyUSB1 Jul 16 00:47:02 ohms kernel: [ 10.588549] cp210x 2-1.1.4:1.0: device disconnected When this happens /dev/ttyUSB0 and /dev/ttyUSB1 disappear and never return. But cgminer 3.2.x is still able to hash in spurts. I had to reboot to get 3.1.1 to work. 3.2+ is doing that. It no longer uses the ttyUSB devices so it removes them to disable the driver so that cgminer can use raw USB through libusb. |
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5. MtGox gets caught back up on USD withdrawals.
You should have probably stopped there. This is a long term plan with several iterations of 1-4. I agree 5 will take 1 - 1.5 months from today. |
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Everyone, cryptocurrency needs 2 more things at this exact moment for it to even hit that 450 dollar mark ol boy mentioned earlier:
1 Much MUCH more attention - Cryptocurrency is STILL not very mainstream. Some people here and there in passing mention it, but it isn't widely known yet...which leads us to the second (LARGER) problem of
2 adoption. I guarantee you that if 20% of the fortune 100 Commerce were to switch over and allow bit-coin in addition to Credit cards for both online and for in store transactions, that it would A) increase in awareness, B) rise in popularity as there is now a different way to establish and trade your digital value for goods with real "inherent value"
At this point in time, btc and other alt coin prices are purely driven by consumer speculation and the supply and demand of feeding that speculation with available alt-coins for sell.
Large businesses will not switch until they have a means of hedging. They are not going to pay someone like bitpay to convert for them when they can cut out the fees. However, they don't want currency risk, so they need to hedge. While icbit.se and bitfinex might be acceptable to some in the community, it would not fly with a major corporation. When the Bitcoin backed ETF becomes available an options market will develop that will allow them to hedge their risk. Once this market develops some decent liquidity we will see the fish we land start to grow until we finally land our first whale. |
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I've had a similar problem with cgminer 3.3.2
There's a 3.3.2? I'm still using 3.3.1, which is working great for me with USB Erupters. Of course I only have 15 of them with USB 2.0 Hubs. Opps I think I meant 3.3.1, but mostly I meant latest master from github (805672fb51f4219e8c5848dc761509d32bffde9f -- I think it identifies itself as 3.3.2, sorry I forgot it wasn't released yet). I tried master from github first when I couldn't get 3.3.1 to work. I was about to blame the hub when I decided to try building 3.1.1 as a hail mary. They're still working on the USB 3.0 Hub support. Which was the reason I bought USB 2.0 Hubs. Glad your working at least. Sam For me USB 3.0 hubs do not work in USB 3.0 slots, but if I plug them into USB 2.0 slots they work fine. It might be worth a try if you already have the hardware. |
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What happens to gold price if interest goes up, does it drop?
The best answer is maybe. Rising rates are deflationary for the money supply. Historically, with gold backed money, this meant gold price would rise as people needed gold to pay the higher interest. In modern times, however there is no such link. One might argue gold could drop due to people needing to raise liquid capital. But then again, one could argue that gold could rise because the large institutions shorting it would need to close out their positions to recover their collateral. If interest rates go up every mortgage taken out in London and the South East of England since 2005 is going to go into default. It's not possible for mortgage holders to absorb exponential increases in the cost of lending when wages are at best stagnant and food prices are going up 14.3%. Many of those mortgages are interest only with no repayment vehicle. The banks will be fucked. There have to be some fixed rate mortgages out there, but I agree there will be trouble. Again, history says gold will tend to be a fall back and will recover first. But there are new forces at play this time, so I say maybe. |
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You can only make money with money. Just like in the current financial system.
Bitcoin isn't a magic money machine. That would be a scam. Your statement is true no matter what the asset, so long as it is a real good. The part you are missing though is time. You can only accumulate value with labor. It doesn't matter if it is shoveling rock or trading companies or assets. Labor is the key here and no matter what you want to accumulate you need to invest your labor into accumulating it. |
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Because you can't point that much hashing power at your Bitcoin-QT client.
Why is that? Sounds incredible. The Bitcoin clients were initially designed to work with CPU mining which was fairly low burden on the client. But now we have exponentially increased the hashing power with high end GPU's, GPU clusters and now ASIC's and the Bitcoin clients don't/can't scale with that load. That is one of the main reasons for pools. Pool Operators have gone through the trouble/cost of developing high performance Bitcoind's and pool server software which if very vertical market type software to keep up with the load and they often have had trouble with the ASIC loads. So if you want to solo mine with high end ASIC's download some pool software and set it up. I don't have time for that. Good Luck with it. Sam Not only that, but the bitcoin developers have tried to distance themselves from mining entirely, not adopting the efficient forms of the high performance mining protocols that have evolved around high mining hash rate speeds, instead dissociating the work of mining to others (indirectly pools). While this may seem crazy, it is also indirectly accepting that it is virtually impossible for solo mining to make any sort of reasonable sense any more. I lament this fact, for I still think that all miners should have solo mining as their final backup should all pools fail, as a way to guarantee the bitcoin network remains secure, if not necessarily smoothly/consistently profitable for its miners. Hmm... it's almost like we need a distributed way of breaking up block rewards. Oh wait, that's p2pool. |
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problem is, allot of those miners won't get ROI for many months. Knowing this, I would expect most (except for those who took out loans) to choose to wait for higher prices before getting their fiat back.
Exactly, I dont see why on this forums people seem to think that miners want to get ROI as soon as possible. I think 90% of them will just mine and hoard, for years Most of GPU miners didn't want ROI as soon as possible, as I explained earlier - they counted on reselling their GPUs, and they were mostly hobbyist. But I'm a miner myself, I know a lot of miners, I've seen in first person who are the customers of companies like KnC and how much they are spending, and you have to understand that this last media bubble exposed Bitcoin to a lot of new and uneducated people who run profit calculators at current difficulty (without having their miners yet), they do not even understand that difficulty is growing exponentially, and at the end of the day there is a "gold rush" in which a lot of new people is entering mining because they think they will get rich quick... So we have now a) a lot of individuals investing money they cannot afford to lose on BTC miners, and as you surely know there is a "get-rich-quick" feeling on BTC - they think they will recoup their investment FAST, and this is why they are putting in this game more money they should; b) there are more and more "professional" miners that are investing money in mining with the only intention of generating profit - they will run their operations as a business. That people has to pay for huge electricity costs, renting of industrial places where they will host their operations, etc. etc. etc. A lot of fiat expenses to cover. During the GPU era, I rarely saw a) and b) miners, most were small-time hobbyist, running their rigs in their bedrooms. During this change to ASIC, I'm seeing a lot of both a) and b). This people needs to recoup fiat ASAP. I can't imagine too much of an influx of people that don't understand mining economics that spend money on anything more than a jalepeno +1 The big guys know what they are doing or are at least seeking the advisement of someone who does. |
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I think he already figured out he was forked
That was a different guy, and this guy says he's been using 13.1. |
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Anyone else thinking of legal actions? MtGox has now stopped their support as well, it seems.
Certainly, yes! We customers have deposited a lot of money there, and that money cannot just evaporate. They can be frozen, ot stealen. MtGox should provide more info now! How much more info do you need? They explained they would shut down for a while. They explained they are back with several new banks, but it will take a while to ramp up and to work through the backlog. They explained new requests would not be processed until the backlog was handled. I'm sorry that your money is tied up, but historically this is not out of the norm for MtGox. There have been SEPA delays, Dwolla delays, account closures, and transaction limits imposed by banks that have caused similar delays in the past. Please learn from this experience and research any companies you are thinking about sending large amounts of money to. If you wait a month, I'm confident your funds will come through. But dealing with such large amounts of fiat money as a startup is a very difficult task and sometimes things don't flow as smoothly as we'd like. |
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Hello, i've a little problem, i'll try to explain.
I'm using rasp pi, and installed cgminer 3.3.1
I have 1 block erupter in a hub usb powered and a lancelot from blackarrow.
I've been using my block erupter a lot of days without problems.
Since I installed my lancelot, I tried with sudo cgminer and it starts working, but it seems the block erupter gets the first work, after that it gets in standby meanwhile the lancelot works fully. A 60 seconds the cgminer says the block erupter gets sick.
What can I do? Do you need something abot logs?
Please help!
Thanks in advantage
If your hub is not powered, you might be straining it. You should only need 1A or so though since the Lancelot has its own power chord. |
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Can someone explain what is going on? Please! Pretty please!  Can you find your payout address here: http://blockexplorer.com/block/000000000000000a6913ee4ada3b92bed9f1398ad8f22f4f944a5d5593197d68if it is listed in the above link, the payout exists, you just have to find where it went in your wallet. Also double check your payout addresses in p2pool, make sure that there isn't a typo. you won't show up in p2pool-nodes.info unless you have a well connected public node. If you do have a public node, would you mind sharing the IP address so we can check out the stats and configuration? No, it does not exist in this payout round, all the settings are untouched. I got payment of todays block, after that one.... Were you mining long enough to get a share on the previous block? What is your average share time, and can you review the historical charts to make sure you found a share? Alternatively, if the node is on a public ip/port share them and we can take a look. |
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