EDIT: For anyone looking to join the server to earn bitcoins, the program is no longer active. You are welcome to join the server still, you just will not earn any bitcoins anymore!I am looking for donations towards what I am calling a "Minecraft Bitcoin Fountain". Essentially, it is a give-away of free bitcoins, but people have to work for it by mining blocks in-game. Now, I am asking for donations to be able to increase the payout to something more significant prior to pushing hard with advertising it to Minecraft players. So, if you are interested in helping spread the word about Bitcoin to Minecraft players, please donate any amount to 13m8dAb16KqWv7v9oEsr97mYMXbynR6CoD. 100% of funds donated to there will go to players who mine or place blocks on MinecraftCC's minecraft server. If you donate at least 1 BTC, then you also have the option to include a sponsor name (business or personal) that I will update the informational OP with. This is already getting dozens of people to use Bitcoin who haven't touched it before, and I am hardly paying out anything right now! It will only get better if I am able to increase the payout to something more significant. Here is the text I posted on r/bitcoin yesterday with more info: MinecraftCC, an established gaming community with several hundred active members, now offers a unique feature: a Minecraft Faucet. You can be paid to play! Every player is paid for every block they mine or place. See this thread for more information: http://minecraftcc.com/index.php?threads/information-about-getting-paid-to-mine.4613/Current payout is 10 satoshis per block mined or placed. I would love to increase this to at least 10x, if not 50x, but cannot afford to do it on my own, so am asking for donations to help. If you wish to donate to a unique faucet certain to bring Bitcoin to many people who would not have otherwise tried it, then send any amount to 13m8dAb16KqWv7v9oEsr97mYMXbynR6CoD. 100% of funds sent to that address will be used for this project to pay out to people as they mine blocks. MinecraftCC was founded in September 2010, and is home to some truly epic Minecraft creations, including the semi-famous Kong vs T-Rex statue: http://www.youtube.com/watch?v=MyR5ITy_9vsServer IP: play.minecraftcc.com Website IP: www.minecraftcc.comView MinecraftCC's trailer video, a showcase of some of the incredible things built by MinecraftCC members on our server, here: http://www.youtube.com/watch?v=VD8fQPFGIRQ
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My numbers are correct bcpokey. If you believe them to be wrong, then please show the math.
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But if you trade other intagible goods like software licenses, then you also pay tax only from your margin (difference from buy and sell price), no?
Actually no... there are only a few categories of goods which are listed in the low which you can trade and pay tax only from your margin. All the others are taxed from whole value... it is possible to got a part of this tax refunded but only if you bought the good from other local company which has already paid the tax (but it does not work when you bought it from individual). Since it is the taxes you are concerned with, have you asked an accountant about this? I don't think anyone here will be able to give you a definite answer on Polish tax accounting law. |
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http://en.wikipedia.org/wiki/American_Letter_Mail_CompanyI wonder if a decentralized 'matternet' could be developed using bitcoin as it's method. Physically, that should be easy enough. A single 'postmaster' in each city large enough to have a Greyhound bus depot, preferablely one who lives close enough to the depot to make a daily visit. Letters and smaller packages intended for differnent cities could be gathered up and shipped together as a larger package via Greyhound's own intercity package shipping service. Delivery to individual homes would be costly (which is why the USPS is always losing taxpayer money) but delivery to private businesses should be competitive, particularly if many packages are delivered to the same point, like what might occur at the FedEx offices. Although FedEx might not like others delivering to their rented boxes any more than the USPS. What I can't fathom is how to decentralize the payments. If someone (or more than one someone) is going to become the defacto postmaster for a city, and make a job out of it, there has to be some method of sharing the fees that the sender pays for the service; and there must be some way consequence to the many postmasters should some piece of mail not make it to it's intended destination. I'd also be helpful if there were some way to calculate the cost of sending mail this way so that there isn't some single fee for any destination, otherwise there will always be some very profitable areas that postmasters prefer to serve and others that are net losers for delivering to them. I'm just thinking out loud here. From a theoretical perspective, how could this work? Any ideas? What about a built-in escrow system? Here's what I envision: Each postmaster has a Bitcoin address. When a person wishes to ship a package, they must create a payment, to be held in decentralized escrow (i.e., inaccessible to anyone), that pays each postmaster along the way. The fees would be automatically calculated, but perhaps decided upon by some committee or group of people (maybe not possible to decentralize this part?). The receiver of the shipment has the key to release the escrow, and upon successful receipt of the package, releases the escrow. For a practical example, say I want to ship a package to the suburbs of New York. - I enter in the shipping details into whatever decentralized software is tracking everything. - Said decentralized software calculates the total price out of a derivative for the price of moving the package to each postmaster, then to the destination. - For example, my package would go from my house to the Eugene, OR postmaster, which might be a 0.02 BTC fee. - It would then go to Portland's postmaster, which might be a 0.1 BTC fee. - It would then go to New York's postmaster, which might be a 0.5 BTC fee. - It would then go to the suburbs of New York and be delivered, which might be a 0.1 BTC fee. - The software would calculate this fee prior to my shipping the package as a total of 0.72 BTC. - The software would ask me to send payment to a specific BTC address, which would then be split out to each postmaster's escrow account accordingly. - When the package is delivered, the receiver releases the escrow key, which sends the payments to each postmaster. Thoughts? |
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...x days for 100% ROI ...
Thank you for using 'ROI' in its correct meaning. It's probably not the first time I've read it here but it's the first time I've noticed. It's been bugging me more than it should that the majority here talk of ROI as break even point, i.e. the point at which your returns on your investment has paid for the investment. What's more, lo and behold a couple of posts later we have another example of 'ROI' being used correctly: ...ROI better than the stock market (an average of 10% a year)...
As I understand it the ROI is the percentage return, not the date - which is 100% ROI or break even point. To be fair, I actually used ROI incorrectly in that same post as well.  I should have said "... a 100% ROI of less than 2 years insane?" I suppose it is an easy acronym to misuse. |
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That and the fact BFL probably already cashed out to USD. Refund is in current USD equivalent, so all they'd have to do is rebuy bitcoins with the same USD. |
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If you remove intangible property from its rightful owner without their consent, with the intent to permanently deprive them of that intangible property you have committed theft.
Stealing bicoins is a theft, no doubt. But it is not that simple, Nolo. The complexity comes from the public/private nature of bitcoin as digital asset. You can not 'remove' bitcoins from its owner because bitcoins do not move. They stay on the blockchain. The blockchain is a public property! Also, who is the 'rightful' owner? The complexity comes from the fact that the private key gives you this right and nothing else! There is no third party keeping records about rightful owners. Remember, the private key IS the right. If you have the private key you have the right! Another aspect is how the rightful owner will prove in court that they are deprived of their private key against their will? In fact, this would be the most difficult practical question to deal with. I completely disagree. I own the bitcoins in my wallet just as much as I own my plot of land according to county records or the dollars in my bank account according to my bank. It doesn't matter that the blockchain is made public. If someone stole my password to my bank account, they might have access to my funds, but that doesn't give them a right to my funds. Neither would the theft of my private keys give them a right to my bitcoins. |
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Since when is a ROI of less than 2 years insane? Most investors can only DREAM of such numbers!
For me, as long as a miner achieves a ROI better than the stock market (an average of 10% a year), I'm happy. Of course, depreciation and the like must be calculated in as well, but certainly, paying off a device in only 2 years is not a bad deal IMO. If you are finding better investments than that, please do share!
Also Frizz, the BFL Single was originally 40GH/s, bumped up to 60GH/s, which is a 50% speed increase. Learn to research, please.
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I don't know what the talk said, but what's been done by people before me is not my responsibility. We should certainly study and learn from it, but amends should be made in the generations that conducted the crime. If no amends are made then, it is not the responsibility of the descendents to make amends.
So you believe a debt is destroyed at death. If your father owed $100,000.00 on his land, would you expect that debt to be wiped clean at his death, or should the person to whom the debt is owed will be owed the money or the property ? What if the currency was what it took to obtain it... say human lives ? Eh, I see your point. I move to having no opinion on the matter, but will watch this discussion with interest. |
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Wow just got a reply that my magazines were shipped out 5 days after they were purchased and am being told that it takes 10 working days (i.e. weekdays) to arrive. Well given Thanksgiving is coming up, good luck to me getting them in November. Seriously does it take 15+ working days to fill an order for 3 magazines (not 1000 magazines)? I would expect this kind of delay from Butterfly labs not The Bitcoin Magazine. What's the hold up? Seriously?  10 days is not unusual for intercontinental shipping. My Casascius coins took about 2 weeks for example to get to Europe. They're coming from Romania... mine arrived yesterday in Oregon. |
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I don't.
ASICs are expensive and fragile. Heating elements are pennies and durable. Different items for different purposes.
For warming a room, perhaps, if they get really cheap or for people who already own them. Not for drying clothes though!
Yes I can see your point. But that's where I see this going if bitcoin does become the giant I think it will. Why not integrate it into standard every-day application? Sure there are potential problelms, but why hardware has generations, to build more sensible and robust solutions. Anyone in a very cold winter region could for example, use a mining rig to heat a garage instead of paying thousands of dollars an embedded heater. While at the same time making back some of the operating costs of that unit. What about floorboard heating that uses asics to make the heat... basic electric baseboard heating, that's very cheap to run. Time will tell, I guess. It is just much less complicated and less expensive to generate heat from simple $0.50 coils of metal than from an ASIC that requires an internet connection, setup, and maintenance (blowing out dust, etc). I don't see it ever being practical or desired by the "average joe". Embedded heaters are cheap. I could stick a 2000w in-wall heater in my garage for $60 if I wanted - a far cry from thousands of dollars. Not to mention that anyone concerned with saving money or energy efficiency would be looking at a heatpump, or perhaps natural gas, as a way to do it instead. |
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I don't know what the talk said, but what's been done by people before me is not my responsibility. We should certainly study and learn from it, but amends should be made in the generations that conducted the crime. If no amends are made then, it is not the responsibility of the descendents to make amends.
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My inclination is buy and hold. There's no reason I would sell right now - too much good news lately, including the wordpress acceptance, possible reddit acceptance, Google potentially implementing it into their wallet, etc. Bitcoin is not stopping. I am bull.
Have you got a link to information about the google thing? tried a news search and couldn't find anything! It's really not reliable information. Just a random twitter post with a guy that said he knew someone inside google who told him they were implementing bitcoin into their wallet. In all likelihood, it's a troll, but you never know... |
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I also think then next step is alternate use for asics as a heating element.
Lets build a rig that vents its heat to dry clothes.
"Honey, I need you to do more laundry, we need that dryer be mining for us"
I don't. ASICs are expensive and fragile. Heating elements are pennies and durable. Different items for different purposes. For warming a room, perhaps, if they get really cheap or for people who already own them. Not for drying clothes though! |
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Everyone knows by now that BFL has more power efficient ASICs than their competitors (or at least, they think they do). Therefore people say they will be profitable for longer, which is true.
However, I'm not sure that this is as big a deal as people claim. I don't think that most people are taking into account 2nd generation ASICs.
BFL, and other ASIC manufacturers, are going to see sales diminishing as difficulty rises throughout the year 2013. They will be looking for a way to increase or maintain profit. One of the most obvious ways of doing this will be to release 2nd generation ASICs.
If BFL puts a cutoff date on trade ins for 2nd generation ASICs (lets be honest, what company would not put a cut off date on such a thing?), like they have on the 1st generation, then all BFL customers will need to pay more capital to trade in their ASICs for the 2nd generation unless they want to quit mining, or be stuck with a previous generation ASIC.
The sooner they announce/preorder/deliver 2nd generations ASICs, the less important 1st generation power consumption rates will be because you will have less time to reap the benefits of the lower power consumption and you will need to spend more money to upgrade.
I'm just thinking aloud here... whats your opinion?
My opinion is that electric usage under 100w is largely a moot point anyway. Even at $0.25/kwh, 100w would only cost $18/month to run. And if ASICs are only marginally profitable due to electric costs (i.e., it is profitable to operate a BFL @ $0.10/kwh but not at $0.20/kwh), then I don't think many people are going to be interested in running them anyway. If it is profitable to operate at $0.10/kwh, but not at $0.20/kwh, then the maximum profit a 100w device could possibly be making is $7.20/month. Who wants to bother with maintaining a device to only make $7.20/month? Likewise, if a 400w device is profitable to operate at $0.10/kwh, but not at $0.20/kwh, then the maximum profit it could be making is only $28.80/month. Again, hardly worth even maintaining the operation of it. So, in my opinion, electric costs aren't going to matter until ASICs drop steeply in price, to the point where someone could buy dozens of units for the same price as buying one of them today. When they have dozens of units consuming many kw, electricity costs will certainly make a much larger difference in profitability. |
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I hope they will make a BTC plot on Big Bang Theory that would get to the right people.
Something about Howard using the Universities super computer to mine Bitcoins and Sheldon developing his much superior Alt-Chain only to be 51% attacked would be awesome. (Not going to happen, I know)
THIS. If I knew how to contact the writers of the show, I would ask them about it. I personally know a freelance writer that has done screenplays for The Big Bang Theory in the past, and I just called him and told him about this thread. He wouldn't give me any contact info for the show's internal personell, but he said that he liked the idea, and would write a screenplay with bitcoin in it, and submitt it to see if they will buy it. Such a process takes a great deal of time, though, so you can't expect to see it this season, if at all. Wow, well that's a start at least! Thank you! |
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3. I would never pay for home insurance. Instead I would have plenty of extra funds available before even considering buying a house.
Unless you planned on being homeless until then, you'd be paying rent to someone else, which would cut into your saving up money. Then, what you would be doing is called "self-insuring." Considering the value of money deflates over time, you'd be losing money by sitting on it. I will gladly pay rent for a place to live, and it doesn't cut into my savings because I consider it a need in order to live. The money i'm sitting on is being actively used, and is gaining value over the inflation level. I'll also throw in here that I will never borrow money either, which means no house until I can buy it flat out. Debt-free is a truly awesome way to live. I'm getting there... Personally, I see housing as an investment. If I am planning to stay put for a while, eventually the payments against the principle would exceed the payments I would be making to rent something similar. Net gain (loss) = RENTAL_PMT - MORTGAGE_PMT + PRINCIPLE_PMT Right now, I estimate that a house comparable to mine would rent out for $800, and my current mortgage payment is $1,062, with $221 going to principle. So I currently have a loss of about $41/month. If I consider that the money put towards principle could instead be gaining interest at 10%, then I'd also have another $42/month of investment income that I am missing out on. In a few years though, it'll flop around. I'll have a net gain each month compared to what I would have had by investing the principle payment and difference between rent/mortgage payment. Especially once the housing market turns around, and I can count the equity gains as well. Certainly though, it is at the expense of lack of flexibility for my living situation. I can't just up and move like a renter could, which can be a significant liability at times. Anyway, all power to you Yuhfhrh - debt free is an admirable way to live for certain. |
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