There are no magic bullets in BTC kingdom. CEX.IO's price per GHS is based on the grand total of experiences like mine. I am really curious if your math predictions are going to pan out or we will see a different curve.
For the cex.io hashrate price, I don't really think it is fair. By using the built-in profit calculator ( https://cex.io/calc), you can see the hashrate price is way higher than the revenue the hashrate can generate. Of course, the hashrate may not be able to increase 50% a month forever (~20% every 12 days), but even if you plug in 20% increase a month (~less than 10% every 14 days, unlikely), you still can't get back your investment. |
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First, to get stuff up and running is a HUGE learning curve. That cuts 99% of world population willing to do anything about bitcoins. Second, keeping rigs up and running cuts another 90% after 12-18 months. I had three children. Keeping BTC and especially Scrypt rigs running is very similar to having a child. Unless that's a day-time job (like a daycare), rigs keep having issues (power, network, heat in summer, DDOS of pools, fan failures, mice chewing on SATA cables for whatever strange reason, etc.). After doing this for a year I feel exhausted and my family is telling me to get out. Where do I go?
Group buys and hosted mining with DZ MC was a GREAT idea. The sad reality is that they do not seem to make ROI. The guys are doing amazing job trying to keep the whole endeavor going, but all the things I listed from my own experience, they go through exact same.
Day trading is also hard and pretty brutal profession. I ended up losing about 0.2BTC, but I am still up on USD, meaning if I just bought $10,000 worth of BTC I would be better off now without wasting two weeks of my life.
Yup, you are right. It is not that easy for newcomers to get into the bitcoin mining world. I had a lot of difficulty trying to figure out everything at first, and later just decided to forget about mining.  But, the point is, you don't really have to mine, if you don't find it enjoyable or profitable. |
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About 1.7 million, but then I saw it drop down to ~1.0 million. I could make several BTC a day with just a few GPUs. Been mining pretty much nonstop for the past 2.5 years.
Wow I never knew Bitcoin ever dropped Whoever was updating this spreadsheet apparently stopped in August of '13, but it's a great glimpse into the history of Bitcoin. https://docs.google.com/spreadsheet/ccc?key=0AmcTCtjBoRWUdHVRMHpqWUJValI1RlZiaEtCT1RrQmc#gid=0And yes, the difficulty has dropped several times. It's even dropped multiple times in a row. You gotta remember: The price had risen to $31, and then crashed to $2. People were abandoning Bitcoin, and we lost almost half of the network. Everyone thought it was a fun little hobby that had run it's course and died. Well, everyone except those of us that believed in it, and kept mining.  For the difficulty beyond Aug2013, you may refer to the bottom part of this site. http://bitcoinwisdom.com/bitcoin/difficulty |
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I know Electrum is a HD (hierarchical deterministic) wallet, and all of my addresses are derived solely from the initial seed.
So, my problem is, say if I have generated 2000 addresses and used them to receive and send bitcoin, when I use my seed to "restore" the wallet, will it know I have used 2000 addresses or do I need to manually "re-generate" the 2000 addresses?
Until 2.0 version arrives Electrum is not a HD (hierarchical deterministic) wallet. Electrum has a gap limit that is used to stop looking for addresses in your deterministic seed. It looks for unused addresses, so if the first 1000 addresses you used haven't receive any bitcoin it will stop there, and you'll need to set a higher gap limit to look for all those you've created after that limit. 2.0 will introduce a better way for merchants that deal with that many addresses, but the number of addresses created will need to be recorded as no gap limit for that wallet will be set in advanced. I see. Thanks for your clarification |
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Has anyone tried 796 Xchange ( https://796.com/?lang=en)  It seems it is incorporated in Hong Kong, but I am not sure if it is legit... |
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Bastards made it commercial and not for public consumption
which is a joke, they don't even understand their own interest.. I mean who wins by not spreading the word and making videos/audios/presentations public Yeah the vcs don't want good ideas leaking out We need our own pizza parties, this conference shit is centralized lol. |
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How does coinmarketcap compare?
I can't access coinmarketcap at this moment. Is it just me? |
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No. Never. The value of Bitcoin will reach 3,000 max in the next 3 years. Then the value will dissipate into alt coins that are faster and don't require a unit such as 0.0001 for a cup of coffee.
Which alt coins are you talking about? Apart from a different block time and block reward, how is it different from btc / ltc ? |
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1. Download electrum on an offline computer (ideally entirely offline, never-to-go-online-again, I use an old netbook I use as a calculator which I got for $100)
If you decide to use your old pc, you should have done disk formatting before installing electrum. |
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It's not going to help
The thief has split the btc up many times already
It is true that it will very unlucky OP can get back his bitcoin.  |
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Last week, a set of amendments introduced in the Russian parliament caused a fair amount of FUD (fear, uncertainty and doubt) in the bitcoin community, as it was misinterpreted as potential bitcoin ban. Is there really such a FUD in community last week? I didn't really see it.... |
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Anything that doesn't include MtGox, which both Preev and BitcoinAverage still do unfortunately. Preev also doesn't seem to use a volume-weighted average, so the Gox-effect is even more pronounced there.
Just check Preev, and find the following line. Latest changes:
Volume-weighted pricing implemented as the default option. 2013-11-29
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I started using bitcoin in August 2013 and made a good 5 BTC. Now they have been stolen in the past 24 Hrs and im freaking out! anything I can do?
It was a Blockchain account.
address removed donations please!
lol. Register a new account, make threads to spam your referral link, and then ask for donation. Is that the way you "made" your bitcoin? |
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I had a very similar experience with btc-e, I lost about 180 ltc, and 1.7 btc, they didn't get my other coins though.
My 2fa was not compromised yet they removed all my funds.
This was directly after I contacted btc-e support.
I believe to this day btc-e is not a trustworthy company.
Bulgarians!
Any time anyone has coins stolen from an online exchange / wallet provider, they should definitely report it here. Then we can get an idea of the trustworthiness (or not) of the site in question. If money is regularly disappearing with 2fa in place, you have to start wondering whether its an inside job. If BTC-E is selective scamming, Is there a way to report them, What their country laws? They won't even tell us who they are. That tells you something already ... Isn't btc-e based in Russia? I always hear that again and again in the forum... |
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Ah ok, thanks for clarification. But you've got me thinking. An eye-patch with a QR code on with your bitcoin address ... better than having it tattooed on to some part of your body, for all kinds of reasons. Think I'll produce one and start selling it!
Your customers need to wear the eye-patch all the time then, to receive donation  I guess a hat (OP's idea) would be better |
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