I see you conveniently edited out the link that was there pointing to a thread discussing the issue. Showing that it was not my assumption but based on information posted in this forum.
I conveniently edited out everything except the once sentence I was referring to. Your assumption was that you took information posted on the forum as fact without verifying it. Learn 2 Internet. Forums are not a valid reference. |
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This sounds wholly inaccurate. It is perfectly legal to buy or sell bitcoins using a bank account. Coinbase does tends of thousands of transactions every day.
Can you post the letter from the bank?
Must be more involved here.
He was moving thousands of dollars through is personal accounts to do arbitrage across exchanges. You should at least talk to your branch manager before starting this kind of activity. Really. Because using a bank as a bank is a bad thing. But maybe he was using too many free wire transfers..... wait.... wire transfers are not free.... Ok. I get it. They were making too much money on him and wanted to stop. I could imagine if he was constantly moving money around for free, but not for fees. Banks fear the government more than the lust for extra money. The make enough money as it is without risking invoking the wrath of the USG. |
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Cool story bro. I've debated this to death in other threads and the fact is people with BFL hardware have been able to make it work by tweaking a few things.
Edit: removed quotes since you fucked them up
I don't understand why you are taking issue with me over this? - I read a post by a BFL engineer that said they would have a problem with P2pool and somehow I am suppose to know that is not the case. Generally when a manufacturer says something about their own products which would be detrimental to selling them why would you not believe them and consider it fact, a BFL engineer has far more authority on this matter than anyone else. He may have been incorrect though so why do they not remove or update that post? Other people will see it and assume it to be the case as well and they are far more likely to listen to someone that works for the BFL than random people saying it does work. Why you feel the need to be condescending about it I am unsure. BFL has no interest in getting to work. If it isn't plug in play, they will say "no it won't work" and then get back to something that makes them money. People who do have an interest in getting it to work have been able to do so. Why you feel like beating a dead horse I am unsure. I have seen every post you have tried to offer as "proof". Sorry, but you are wrong. No please quit telling people incorrect things, or at least HINT that you might not know instead of saying things like this: The issue with p2ppool is ASIC miners will not work on them
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This sounds wholly inaccurate. It is perfectly legal to buy or sell bitcoins using a bank account. Coinbase does tends of thousands of transactions every day.
Can you post the letter from the bank?
Must be more involved here.
He was moving thousands of dollars through is personal accounts to do arbitrage across exchanges. You should at least talk to your branch manager before starting this kind of activity. |
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Cool story bro. I've debated this to death in other threads and the fact is people with BFL hardware have been able to make it work by tweaking a few things.
Edit: removed quotes since you fucked them up
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this is bull shit i demand someone dumb on cavirtex now  r i dum enuf? |
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Again, k'nex aren't for modeling. |
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Is that your way of saying "no" more pool hashing power does not mean more BTC ?
More hashing power means more BTC on average. In the short term, it can vary. |
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BTCguild pool speed says 46GH. Eclipse pool speed says 10TH. Doesnt more hashing power mean more blocks found and more BTC paid?
On average.... variance is very wide for "solo mining", even with 46 GH. |
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why the heck are all big movements happening when I'm heading to bed or already sleeping   1) Conspiracy It's this one. I watch you seleme. |
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I don't see how that is any different to using a mining pool? I thought the point of the p2pool is that every miner runs a p2p node? Because every one of those nodes connects you to the same pool. You can't have it both ways. Either you use someone else's node, or you get your hands dirty and run your own. |
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For the Layman: http://p2pool.hostv.pl/Pick one, point your miner at it, done. Shares always have to payout to the current payout list to be valid on p2pool. The software does send it to bitcoind if it is a valid block to make sure it is broadcast as soon as possible. There is no way to change the way the payout is done. If you change that, you have to start the proof of work all over again. As for high variance, pooling hashpower to a single p2pool address is possible. In fact, I ran such a pool for a couple of weeks. Instead of needing to find a block on its own, my pool paid out whenever p2pool found a block. I may revive it at some point, but there was almost no demand when I tried it. The issue is when you search to see if they work the first results say they don't
Because people who don't know what they are talking about keep repeating it. Soon the hardfork will take place, and p2pool will be compatible with all ASICs. Now is the time to break this meme. I also don't understand why so many people on this forum immediately attack each other - anyone that is not involved in Bitcoins is going to be reluctant to join or even post due to all the demeaning comments that are fired at you when you misunderstand something - which would will be the majority of new users.
You guys need to be more patient and just explain why something may be incorrect.
Maybe it is because people talk with confidence about things they don't full understand. This leaves the uneducated with false belief, which they continue to repeat. When you hear the same lie repeated 50 times because everybody takes hearsay as fact, it gets annoying. |
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Anyone else buying when 94 gets broken?
your better off buying now there's no question 94 will be broken anyone else selling once 180 is reached  I'll sell a few at $180. |
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Yeah, very very roughly there is a factor of, say, at least 5 or 10 between demand from China and what we can expect in the entire world alltogether. Obviously assuming sales are open very soon so pricing will be similar. I hope the volumes will be large enough to fulfill this... Good time for shareholders soon!
I'm on board with that ratio, although more towards the upper end. Note that the sale will lead to a fraction of the profits that previously generated due to the price cut. On the other hand for this week, we're currently clearly outpacing last week's mining. I wonder how the USBs are doing. The 61 running here are doing quite nicely. Thanks for asking! |
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1. Look around you. Who knew about the btc and might be able to guess your password (or install a keylogger).
2. Look for virus/malware. Encrypting your wallet only helps until you type your password once.
3. If this isn't a local wallet on your computer, look closely at whoever was storing them for you. If this is the case, there is likely nothing you can do other than to be more careful with your money next time.
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So, when it's running properly the green LED is off except for when sending a burst of data.
Right. It flashes when it finds a share and when it is sent new work. Otherwise, it should be off. |
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I think the war on Bitcoins is only just starting, its a direct threat against BANKS. The only Bank that will support this is the "ANTI-BANKs" IE Credit Unions
I think banks make most of their money by giving out loans. Transaction fees probably don't count for that much. It's things like PayPal and credit card companies that can very easily become obsolete. Not exactly... check out this article: http://www.forbes.com/sites/halahtouryalai/2012/03/01/no-surprise-here-bank-of-america-looks-to-charge-more-fees/The fees mentioned in todays Journal story are related to basic checking accounts; $6 to $9 a month for an “Essentials” account while other account options being tested in some states carry monthly charges of $9, $12, $15 and $25, the Journal reports. Customers can avoid the fees by maintaining minimum balances, using a credit card or taking a mortgage with Bank of America.
This shouldn’t come as shocking news to anyone paying attention to the banking industry recently which is struggling with flat or decreased revenue numbers. As a result, many of them are looking for new ways to make money.
Yep.... it's hard to make money on loans when the base rates are below 0.25% per year. |
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Okay, with the B.E. tucked into the air conditioner outlet and the RPi on top of the AC and the net a nearby switch for my WDTV, it's running: cgminer version 3.3.1 - Started: [1969-12-31 19:00:26]
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(5s):133.4M (avg):138.3Mh/s | DA:4 DR:0 HW:0 WU:2.0/m
ST: 2 SS: 0 NB: 1 LW: 14 GF: 0 RF: 0
Connected to xxxxxxxxxxxxx diff 1 with stratum as user xxxxxxxxx
Block: 00966e42400b20a1... Diff:26.2M Started: [19:00:26] Best share: 10
--------------------------------------------------------------------------------
[P]ool management [S]ettings [D]isplay options [Q]uit
AMU 0: | 300.9M/279.5Mh/s | DA:4 DR:0 HW:0 WU:4.03/m
--------------------------------------------------------------------------------
[1969-12-31 19:00:25] Loaded configuration file /opt/minepeon/etc/miner.conf
[1969-12-31 19:00:25] Loaded configuration file /opt/minepeon/etc/miner.conf
[1969-12-31 19:00:25] No devices detected!
[1969-12-31 19:00:25] Waiting for USB hotplug devices or press q to quit
[1969-12-31 19:00:25] Probing for an alive pool
[1969-12-31 19:00:26] Switching to pool 2 xxxxxxxxxxx- first alive pool
[1969-12-31 19:00:26] Pool 1 http://xxxxxxxxxxxxx:3333 alive
[1969-12-31 19:00:26] Switching to pool 1 http://xxxxxxxxxxxxxxxxxx:3333
[1969-12-31 19:00:26] Pool 0 http://api-stratum.bitcoin.cz:3333 alive
[1969-12-31 19:00:26] Switching to pool 0 http://xxxxxxxxxxxxxxx3333
[1969-12-31 19:00:26] Network diff set to 26.2M
[1969-12-31 19:00:31] API running in IP access mode on port 4028 (12)
[1969-12-31 19:02:08] Accepted 1895e4cb Diff 10/1 AMU 0 pool 0
[1969-12-31 19:02:15] Accepted 195fa067 Diff 10/1 AMU 0 pool 0
[1969-12-31 19:02:15] Accepted fe3f5bb0 Diff 1/1 AMU 0 pool 0
[1969-12-31 19:02:16] Accepted 1b280425 Diff 9/1 AMU 0 pool 0
FTFY |
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So.. Could we see a Goomboo's Bot in the future? Or see you team up with an existing Bot maker to make that Bot even better?  ?? Now that would be Interesting.. I don't use any algorithms to trade in the BTC market. I haven't looked into any of the said bots and know nothing about them. Personally, I am not comfortable trusting my hard-earned money to an algorithm I didn't program.
Thank you for the questions and I wish you the best in your trading.
Goomboo bots exist... search this thread. Or, if you can code, it would be dead simple to write. If you can't code I personally wouldn't recommend you run a bot, but I'm biased. I hate to use code I can't read and understand, particularly when it involves my money. |
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They could only suppress the price until the fund ran out of BTC to sell on the spot market. The fund would settle for fiat a the bottom and then BTC would revaluate higher.
Or the opposite of this. The fund Trustee has some discretion, it is not required to sell anything on the spot market, or it might sell for other reasons than sale of shares.... But regardless, this funds ability to cause the actual bitcoin spot price to fall is limited by the bitcoins it has to sell. No. It isn't Bitcoins may be collateralized by the fund, or by its participants. So it depends on what you consider to be the source of the spot price. The thread postulated that the ETF could itself become the pricing mechanism rather than the exchange. Sure... if the ETF became the pricing mechanism. But as other have pointed out, bitcoin already has a widely established spot market and large holders are unlikely to give up the freedom of coin possession for more risk plus a fee. |
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