|
just remember. that financial advisors, spend a couple years in business college and then go to financial universities and then have to sit some exam to prove they know how the fiat system works.
they know nothing of real world currency. and only what those FIAT books have taught them
|
|
|
|
by uploading bytes of a single 1mb image, yes just one...for instance a HD desktop background. that single file will fill the block and stop proper 'value' transactions. by just uploading hyperlinks to file locations will still bloat each block but to a much lesser extent. but then you are just bloating the blockchain with data that after a couple years may have been taken off the server you linked. bitcoin is to be around for atleast 100 years. stop thinking of silly uses that only are temporary gimmicks that have no usefulness in 20, 50, 100 years Just no more data injection attempts into the main chain please  . +1 |
|
|
|
|
when the op's opening argument is about the bitcoin price, and not bitcoins purpose...... you got to wonder why do those type of people even bother thinking they are bitcoiners..
so i have to agree...... the OP is a fiat slave
|
|
|
|
|
you cannot make any assuptions on true demand or true supply. or true value...
because the indicator you all only see is the price. and this price is so fake you dont realise it.
just look at the exchanges. they are not moving 13million coins. they are not even moving 1.3 million coins. they are not even moving 130k coins...
the exchanges are moving less than 1% of the market cap. infact its less than 1 tenth of a percent. so trying to link exchange movements to proper market trends of the whole 13million coins is utterly obsurd!!
open your eyes people, the exchanges should not be the value bases of bitcoin
|
|
|
|
|
id sell the mining eqipment as soon as its not profitable..
after all if you get a cople hundred for a 1thash now... jst wait a few months and with that same couple hundred you will probably be able to by a multiple thash unit, theres no point holding on to slow units in the hope of a hashrate drop. better to se the funds elsewhere.
as for the price...
STOP looking at crappy exchanges
there are 13million coins and yesterdays drop below $300 was done with less than 1600 coins
thats only 0.0118% of all coins.. why is anyone still stupidly valuing 13.6mill coins based on the movements of less than 1600..
even 2 years ago when mtgox was playing with 5k-10k per orderline and 150,000 a day volume. these days exchanges are only playing with a few hundred at a time and only 50k a day at most.
stop centrally valuing bitcoin based on manipulated exchanges thats gateways in and out of fiat are so jammed up with red tape now that no one wants to use them regularly
|
|
|
|
|
old news..
about 4 years ago we figured he had a british based background.. look at the friggin newspaper he quoted in the genesis block....!!!
it wasnt the new york times or the greek, french whatever.. it was a UK newspaper...
also to add the linguistics of his writing from posts and emails, these are not american-english nor is it second language english. its british english.
so thanks for pointing out the timezones of satoshi's posts.. i think even i made a post about this many many months ago, and so again nothing new.
but thanks for trying.
|
|
|
|
Make sure you have at least a nominal amount of regular FIAT money so you are not screwed in case the Bitcoin experiment goes belly-up at any point!
Even if Bitcoin drops to $1 I have another paycheck coming in 2 weeks so...no biggie. Like I said, I sell on localbitcoins to get cash so I always have some spending money. you now need to push your local grocery store to accept bitcoin and your landlord. and then you'll be at my level of no FIAT  i dont even look at the fiat price anymore, the only time i see price changes is when people write topics on these boards in their emotional panicking state.. lol to me bitcoin is better than fiat no matter what the crappy exchange values show |
|
|
|
Hey I went to the DMV to file paperwork for a driving permit today-- let's make a news story about it.
news just in... ROAD SAFETY WARNING a guy that likes to play with knives has just got a permit to be on the road.. can the public please look both ways before crossing the road, as he is still learning and might hurt someone |
|
|
|
|
for every american household with a filipino au pair, i bet there are 20 households of single guys paying western union to girls on filipino webcam chatrooms....
for every american household with a filipino au pair, i bet there are 2 businesses paying western union to suppliers/warehouses for products and stock
for every american household with a filipino au pair, i bet there are 5 households paying western union to scam/con artists in the Philippines
so although i do not think its all 'au pair' based.. the volume of remittance alone per year is enough for someone to set up a conversion service.
|
|
|
|
If I remember correctly the original plan was to have a share worth 1/5th of a bitcoin, but with that many shares they must be trying to make a share worth x millibits instead. Smart move IMO. Single Bitcoins costing several hundred dollars is a huge psychological barrier for a lot of tech inept investors.
its still a 5th of a bitcoin, they are releasing 1million shares.. if you do the maths, its the 200,000bitcoin that the winklevoss have on multiple times publicised that they have bought in 2012-2013. so i see nothing wrong. these bitcoin/shares are cut down into 20 blocks of 10,000btc=50,000 shares which they call 'baskets' other whales are free to purchase 10,000btc from wherever they like and then secure those into the winklevoss trust, to then increase the number of shares available for sell publicly If a 'whale' was to buy 300,000 btc = 30 blocks and put this into the winklevoss EFT, Who would then hold the majority vote in company matters? Or would it just be smarter for them to set up their own EFT, that would cost a lot in itself, the winklevoss twin have spent a packet on setting up there's. vote in company matters?? the shares are not ownership of any company.. they are shares of a bitcoin. thepoint of the trust is this.. imagine it as a office.. that trades shares. to be a dealer/salesmen in the office you have to own baskets of bitcoins, and then you can manage the ownership of the shares of the bitcoin between your customers. you do not have any voting rights of the office. you are just sat in the office managing the share transaction information of the buys and sells of your basket(s) |
|
|
|
I don't get how is this a news update. What changed? We've known for months they are going to use "COIN" as their ticker symbol. And we already knew they were trying to get it up and running but are in wait status.
They are still waiting. How has anything changed?
basically at the last couple days of 2014 the winkle twins filed an update to the government.. ...... and... thats about it |
|
|
|
|
the amount of people in the community and using bitcoins is increasing.
just look at the influx of endless noobs trying to learn about bitcoin...
the problem is not people its the fact that we are all judging bitcoins price and market cap, based on small crappy exchanges that do the following things
1. new AML/KYC restrictions limit how much people can deposit before hitting flags, and as such not much buying to increase prices occurs
2. the amount of day trading on exchanges has decreased 10fold in just a year meaning its easier to plummet the price with a smaller handful of coins
3. out of the 5 main exchanges. if one moves downwards they all follow like sheep even without any means of a FIAT arbitraging route to cause genuine need to follow.
4. out of the 5 main exchanges if one moves UP, the others do not follow. and its harder for the average price to rise unless 1 exchange has a substantial price rise, or more than one exchange is pumped at or near the same time.
all of which makes the exchanges the wrong place to look for price validity because there is no stopping any size bitcoin deposit to sell, but theres many reasons to stop fiat deposits to buy.
and there is more emotion choices to dump at the mere mention of a drop, then the choices to buy at the mere mention of a spike.
i think everyone should stop looking at exchanges and start bartering locally and properly trough local bitcoins where they can set their own prices and be independent of manipulated and narrow pathed exchanges
|
|
|
|
|
nooooo
the winklevoss trust AKA the winkle ETF.. is not "the bitcoins savings and trust"
the "bitcoins savings and trust" was the scam investment by pirate@40..
try not to use the scam words in relation to the winklevosses legit trust or people will google the words and get the wrong result
|
|
|
|
|
those worrying about FIAT price drops shouldnt.
firstly if your end goal is to go back to fiat, then your not really understanding bitcoin or thinking about the opportunities to expand bitcoin to never need fiat again..
secondly you should be thinking of the fact that if its a bad time to sell, then obviously its a good time to buy..
|
|
|
|
seems to me he is trying to help pools... I uploaded a redesign of m0mchil's getwork to SVN rev 189 (version 31601)
m0mchil's external bitcoin miner idea has solved a lot of problems. GPU programming is immature and hard to compile, and I didn't want to add additional dependencies to the build. getwork allows these problems to be solved separately, with different programs for different hardware and OSes. It's also convenient that server farms can run a single Bitcoin node and the rest only run getwork clients.
The interface has a few changes:
getwork [data]
If [data] is not specified, returns formatted hash data to work on:
"midstate" : precomputed hash state after hashing the first half of the data
"data" : block data
"hash1" : formatted hash buffer for second hash
"target" : little endian hash target
If [data] is specified, tries to solve the block and returns true if it was successful. [data] is the same 128 byte block data that was returned in the "data" field, but with the nonce changed.
Notes:
- It does not return work when you submit a possible hit, only when called without parameter.
- The block field has been separated into data and hash1.
- data is 128 bytes, which includes the first half that's already hashed by midstate.
- hash1 is always the same, but included for convenience.
- Logging of "ThreadRPCServer method=getwork" is disabled, it would be too much junk in the log.
ribuck's description is spot on.
Pool operators can modify their getwork to take one additional parameter, the address to send your share to.
The easy way for the pool operator would be to wait until the next block is found and divy it up proportionally as:
user's near-hits/total near-hits from everyone
That would be easier and safer to start up. It also has the advantage that multiple hits from the same user can be combined into one transaction. A lot of your hits will usually be from the same people.
The instant gratification way would be to pay a fixed amount for each near-hit immediately, and the operator takes the risk from randomness of having more or less near-hits before a block is found.
Either way, the user who submits the hit that solves the block should get an extra amount off the top, like 10 BTC.
New users wouldn't really even need the Bitcoin software. They could download a miner, create an account on mtgox or mybitcoin, enter their deposit address into the miner and point it at anyone's pool server. When the miner says it found something, a while later a few coins show up in their account.
Miner writers better make sure they never false-positive near-hits. Users will depend on that to check if the pool operator is cheating them. If the miner wrongly says it found something, users will look in their account, not find anything, and get mad at the pool operator.
so i guess that dismisses that theory |
|
|
|
If I remember correctly the original plan was to have a share worth 1/5th of a bitcoin, but with that many shares they must be trying to make a share worth x millibits instead. Smart move IMO. Single Bitcoins costing several hundred dollars is a huge psychological barrier for a lot of tech inept investors.
its still a 5th of a bitcoin, they are releasing 1million shares.. if you do the maths, its the 200,000bitcoin that the winklevoss have on multiple times publicised that they have bought in 2012-2013. so i see nothing wrong. these bitcoin/shares are cut down into 20 blocks of 10,000btc=50,000 shares which they call 'baskets' other whales are free to purchase 10,000btc from wherever they like and then secure those into the winklevoss trust, to then increase the number of shares available for sell publicly |
|
|
|
AgentofCoin I like to have answers; I'm open and I like to understand; You all guys look so sure... ; I really like the bitcoin people, and let me say something as a joke: to succeed in life it is not enough to be stupid; you must also have good manners (Voltaire)
ill pretend your not a troll and instead just a noob.. so here goes in 120 years the rewards would be insignificant.. so for 119 years relax its not your problem in 120 years peoples mindsets would change from thousands of people mining for profit. to become a diverse range of hundreds of thousands or millions of people mining purely to secure their bitcoin. the transaction fee at the moment is less than half a penny.. and over 120 years the transaction limits and usage of bitcoin will change soo much that these half pennies will add up to be a sufficient amount to cover basic electric costs of the devoted miners that only care about security.. infact these devoted miners may have such a substantial hoard of bitcoin that the electric usage just to secure the network is cheaper then trying to secure their fiat investments and thus the transaction fee's wont be something they require. put it this way.. if i have 50,000 bitcoin id happily spend a couple bitcoin of my own savings on the electric just to secure my hoard and i would not ask anyone else to pay me tx fee's for any blocks my miner solves.. but as i said in my first statement.. your worry is about something that is MANY MANY years away, far past your lifetime and plenty of time to deal with, it's not going to be something that shocks the world over night anytime soon |
|
|
|
This is correct, however investors in COIN are going to be effectively be investing in bitcoin as they will own a trust that owns bitcoin. Additionally the trust (and trustees) should be (IMO) considered to be trustworthy and it is possible to exchange shares in the trust for actual bitcoin (and vice versa)
aha ...  ... so, in real world, you can exchange ETF gold bond for physical gold ? At the same price ... ? (trap)  how it works is that any WHALE investor can grab 10k of bitcoins and put them into the winklevoss trust as a basket. this basket then represents 50,000 shares (obviously a 0.2btc value per share). the public can then buy those shares in any amount they want, small or large. and obviously sell shares on again. anyone with 50,000 shares can ask to transfer the shares back to bitcoin and take that basket out of the trust. what no on can do is own just 5 shares and request 1 bitcoin to be taken out of the basket. it has to be the 50,000 shares to be able to take a basket out of the trust |
|
|
|
I don't think this is news at all. Seems just some guy rehash some old story.
On the NASDAQ link, status is -> "Filed (7/1/2013)"; under the financials & filings tab, last filing is from Jul 1 of 2014.
they refiled on the 30th of december 2014.. http://www.nasdaq.com/markets/ipos/filing.ashx?filingid=9924446but still unsure when their nasdaq shares will actually be open to the public as thats the only question on people minds |
|
|
|
|
antminer uses 590watts PER HOUR
thats 14160watts a day..
so thats 121 antminer s5's can be powered by a single barrel of oil.
so for every barrel of oil. they have to spend over $40,000 on the antminer rigs...
$40k x 30 million= $1,200,000,000,000
oil per barrel is $53
53 x 30million=$1,590,000,000
(p.s i rounded the numbers for simple maths but the costs are actually higher)
so now i gave you the maths... ask yourself
30million barrels of oil wasted is $1.6billion a day.. do you really think a country would waste that??
would a country really waste 1.2 trillion on equipment, just to poke and prod at an internet currency for just one day.
bitcoin is only valued at 4billion. so why would anyone waste 1201.6 billion in a single day!
|
|
|
|
|
Show Posts
