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ASICs aren't designed to profit the consumer. They exist to profit the manufacturer only.
Why not just buy the Bitcoins you need?
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You do realise that Litecoin uses SHA-256 don't you? |
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I quite agree, already dumped my holding. In exchange for Bitcoins obviously.
Also, I don't mine scrypt coins anymore. Too expensive with GPUs.
Mining BTC with ASICS does not give you ROI ever. If you already have GPUs, mining Scrypt is still more profitable. You must be lucky and have cheap electricity then. Or stealing it. |
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when we wait month or two, there will be so many asics digging up bitcoin that difficulty will be in 2 months 16x bigger than now and many of gpu owners will go to litecoin see what happens  The GPU owners migrated from Bitcoin months ago! |
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Litecoin will still be around for a long time. Can be sure of that.
It just those GPUs are so damn expensive to run. Especially here in UK.
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I quite agree, already dumped my holding. In exchange for Bitcoins obviously.
Also, I don't mine scrypt coins anymore. Too expensive with GPUs.
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The private key is publicly known. But why all the double spends?
You just answered your own question. Because the private key is known, the instant anyone sends coins to that address, somebody will attempt to transfer those coins to their own addresses before anyone else does. But since everybody else has the exact same plan, the result is a great many transactions from many different people all trying to spend the same coins. I thought of this but had the idea someone will get their transaction first (maybe a few milliseconds quicker) and that one would be accepted. All the rest that followed would double spend. |
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I've never really understood what's going on with that account? The private key is publicly known. But why all the double spends?
the system is being tested for exploitability I thought that was what the testnet is for. |
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I've never really understood what's going on with that account? The private key is publicly known. But why all the double spends?
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If you've got $6k to spend, you might as well just buy $6k worth of Bitcoins.
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But we can accept small investments, like 100-1000 USD, but in this case I wont be able to pay a lot attention to you.
In other words you'll just run off. |
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mining is dead get over it
So how are transactions still being processed? |
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Yes. Better hurry up. Difficulty is exploding with PPcoin as well.
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Might as well just buy the Bitcoins instead of messing about mining.
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Land and properties are dirt cheap in Chernobyl.
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Isn't Bitcoin the only 'main' currency?
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I'd sooner take a leisurely stroll around Fukushima wearing just shorts and T-shirt than give OP any coins.  |
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Looks like someone's been busy on Photoshop.
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It uses Scrypt instead of SHA256 hashing, so you can profitably mine it on GPU.
Really? You must have really cheap electricity or stealing it. |
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