Ukraine's National Bank has warned against the associated risks that come with digital currencies such as bitcoin. A statement from the bank dated 1st October, first reported by Ukrainian news site Finance.ua, said it should not be held liable for any losses incurred by consumers using digital currencies to settle transactions.
Instead, it urged banks, consumers and payment organisations to use approved payment systems that guarantee consumer protection (of course  ) Full article : http://www.coindesk.com/ukraines-national-bank-issues-bitcoin-warning/Ukraine, Russie, China and alike "closed" countries hate Bitcoin because it's decentralized currency, they can't control it , and because its anonymity, so they try each period even to don't allow Bitcoin and mark it as "illegal" , or they just send from time to time such warnings That's right, the government is feel like lose their tummy when they can't control the money. Well as far as i can see, Russia gov is have a plan to create their own cryptocurrency, based on blockchain technology and China people is have a plan to make a "proposal" to the gov for consider about bitcoin use. We already know as time goes on Governments will fight BTC more and more intensively. They already are behind the scenes and i'm not particularly surprised that a country such a Ukraine jump on the bandwagon sooner than most. Well they haven't done more than all of the other countries. They have just issued a warning in dealing with cryptocurrency. That Bitcoin is volatile and that people can lose money much easier than with the traditional financial instruments. To give them a benefit of the doubt, you can lose your money easier with Bitcoin if you don't know what you are doing. So I don't think that any government has taken a clear decision to fight us yet. I hope they will not in the future either. Instead of teaching them how to properly use BTC they are teaching their citizens to fear it. It seem to me that they decided to fight Bitcoin with FUD, which is pretty typical of governments. So i would not be inclined to give them the benefit of the doubt. |
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It already happened!http://www.coindesk.com/blockstream-commercial-sidechain-bitcoin-exchanges/Blockstream really needed to prevent BigBlocks - and successfully did. Now, there is greater need for their offering: side chains. Side chains which they control, and they charge fees to use. This is just the start. There will be many, many more features of 'advanced systems' pushed out of the core, pushed away from 'free', and controlled by profiteers. Why did everyone listen to Blockstream when they so vigorously fought 8MB? now everyone gets to pay them fees!!! With 8MB blocks, no extra fees! Bitcoin is fucked now. With 8mb blocks = less and less people can deal with nodes and aren't able to run their own nodes = Bitcoin is fucked. Sorry to burst your bubble but resources are limited, and a fee market seems like the only way to go about this unless you want to raise the block size until becomes centralized and only private organizations are able to afford nodes just like now only private organizations are doing mining. We can't afford centralizing mining and nodes, and Lightning Networks seems like the best approach thus far. It was intended to work like that from the beginning. You don't run your own email server, your own IRC server or your own bittorrent tracker and that doesn't mean they are centralized. Bitcoin development as been hijacked by a company and companies only serve themselves... Sound more drastic than it really is. Nothing prevent you from continuing to use the stock BTC and nothing will prevent it from getting a block size limit if that become the best path in the future. If miners collectively agree that a block chain increase will be better than using the sidechains because of fees and such, then it will happen. Thats all. |
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Ukraine's National Bank has warned against the associated risks that come with digital currencies such as bitcoin. A statement from the bank dated 1st October, first reported by Ukrainian news site Finance.ua, said it should not be held liable for any losses incurred by consumers using digital currencies to settle transactions.
Instead, it urged banks, consumers and payment organisations to use approved payment systems that guarantee consumer protection (of course ) Full article : http://www.coindesk.com/ukraines-national-bank-issues-bitcoin-warning/Ukraine, Russie, China and alike "closed" countries hate Bitcoin because it's decentralized currency, they can't control it , and because its anonymity, so they try each period even to don't allow Bitcoin and mark it as "illegal" , or they just send from time to time such warnings That's right, the government is feel like lose their tummy when they can't control the money. Well as far as i can see, Russia gov is have a plan to create their own cryptocurrency, based on blockchain technology and China people is have a plan to make a "proposal" to the gov for consider about bitcoin use. We already know as time goes on Governments will fight BTC more and more intensively. They already are behind the scenes and i'm not particularly surprised that a country such a Ukraine jump on the bandwagon sooner than most. |
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Yes this is a business project. Got suggestions for crowdfunding in bitcoins?
Since you're in Canada, do you realize that there's many services and online stores to buy stuff with BTC? And if your plan is to spend BTC at your convenience store, you can do that with a BTC debit card. Spreading BTC ATM around is a good idea in a way but you'd need a lot of capital. Basically we'd need a company to start fitting BTC ATM around and they would take a cut, obviously. But the problem is that its inefficient and expensive. We can just turn BTC into FIAT under 24 hours if we want and we can spend it directly for almost anything, meanwhile there are very little % that use/know/trust BTC which is why there aren't many BTC ATM here. |
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From what i understand batteries are expensive and they have a short lifetime? Most people who wanted a 24/7 solar setup ended up seeing that the cost to maintain it wasnt much cheaper than the electricity cost.
Could you instead just feed the electricity back into your electricity meter to make it go in reverse at day and suck it up at night? Assuming you feed back twice what you use at day, it would effectively nullify your usage at night?
I am usually the first to say treat Solar as a completely different exercise than Mining. However I don't want a full installation with feed in tariffs etc. I want something I can play with to prove it can be done in a simple cost effective way, so that I can continue to mine whatever happens to Difficulty, Halving s, BTC price etc.. As I say I am just pulling together ideas, and collecting parts at the moment. I picked up a couple of 255W panels for £100 last Weekend. I would like to do it completely without batteries however some sort or reservoir is going to be needed, particularly with the UK Weather... My idea is that it will mine only when there is power available and the miner will dynamically change the hash rate to consume the available power. Anyway just an idea at the moment. I will start a thread when I get going. Sending the meter backwards is a great idea, unfortunately meters these days, even the mechanical ones have a backstop built in to prevent this. Rich I see, thats unfortunate, would of made sense since you'd basically be selling the electricity back to the grid. Please post here with the link when you start that thread. Raising my electricity cap with solar panels would be interesting. |
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Yes a nice result. For me with my 15c electricity some form of undervolting is essential as otherwise it is costing me to run an S5. I will be ok until the Halving, but then will have to come up with another plan to keep mining. I am happy to spend money on PSU and Buck Converters etc as unlike the Miners they are generic and can be used in other projects.  With a bit of luck if I move the S5's on at the right time I will get most of my money back. Not sure what my next move will be, perhaps the S7 will come down in price or I am gathering the bits for a small Solar Mining experiment. I want to try and do it with only a small battery with the mining load being dynamic to reflect the power available. Just an idea at the moment, will start a new thread when I get started properly. Still want to explore what are the factors that enable the V1.91 to be undervolted and other revisions of the boards not? I feel there may be a bit more to squeeze out of an S5 by fully understanding the effect that changing not just the core voltage but the other IO and PLL voltage, plus the interstage signal / level shifters etc. At the moment it is not clear which of the voltages or signals is the one that causes Hashing to stop? Rich From what i understand batteries are expensive and they have a short lifetime? Most people who wanted a 24/7 solar setup ended up seeing that the cost to maintain it wasnt much cheaper than the electricity cost. Could you instead just feed the electricity back into your electricity meter to make it go in reverse at day and suck it up at night? Assuming you feed back twice what you use at day, it would effectively nullify your usage at night? |
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sure there will be a roller coaster next halving..
some people will think that bitcoin too hard to get and the price will increase..while miner got small reward so they not mining anymore...make it more cheap...
am i wrong?
The trader scene won't change overnight, only the miner's scene will change. The price won't soar up, it didnt the first time. Meanwhile the halving will effectively (nearly) halve the miner income overnight and the price will not have doubled or anything at all, so quite a bit of miners will get knocked off. |
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Selling bitcoin miners
*antminer s1 £70 including postage to uk
*2 x BFx2 Bitfury miners £25 each including uk postage
*2X Antminer U1 £15 each including UK postage
* 335MH/s USB bitcoin miner £12.50 including UK postage
Or the lot £150 including UK postage
Advertised on ebay NO OFFERS
Paypal accepted
I don't think you're going to find a buyer for a S1 at 100USD when you can get 10+ for that price. Its also more than what a S3 is worth. The rest is not much better, for miners the usb miner is worth 1 cent to a miner. You'll have better luck selling to someone making a collection or sell to or yourself on ebay to clueless people. |
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Also of interest:
About 2M wallets August 2014
4M wallets August 2015
So it doubled in 1 year. For it to double again we need 8M wallets in Aug 2016, seemingly not impossible because at the moment we look at 1M new wallets every 4 months. Coupled with some slight exponential growth I would say we are on track easily for 8M wallets August 2016.
16M Aug 2017
32M Aug 2018
64M Aug 2019
128M Aug 2020
256M Aug 2021
512M Aug 2022
1024M Aug 2023
2048M Aug 2024
4096M Aug 2025
...
That is of course highly simplified but who knows...it could be even faster because money is such an emotional thing - it may just lead to a situation where the rats run from the ship, although past historical data appears to indicate otherwise.
Hmm, even if we say 16M = 1.6M unique user, that would still mean the entire world's population by 2030 and honestly something just sound off about this. Even 1.6M unique users does not sound right and the growth until now does not sound right. I/we must be missing something. |
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Really wish you could just bypass bad sections, ugh. But i guess they were designed to be cheap to make, not easy to maintain, repair or be resilient.
You often lose modularity in chain design as you drop entire chains rather than modules (or sub modules). The benefits are still worth it though. I'm really curious about the differences and just googling string design / vs modual circuit design does not yield anything relevant. (Whoot string theory results?) I'm suspecting thats not the proper terminology? If i understood the differences then maybe i could bring up the bad instead of just bashing on the S5. |
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our rate is somewhat reasonable @ .08 pkh but most machines will push the pkh price to .14 (for higher usage)
Your offer is much appreciated.
I see, i think that's too much to find any deals that will ROI in 2-3 months and any longer than that, especially at these electricity cost, you're looking at marginal return after you resell the hardware, which would be critical. In this case if you bank on the S7 not devaluing, you could mine with it for a bit and then resell it before it lose too much value, but 0.1$+ kWh is really eating into any actual profit. |
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I really don't need the network part with my nighthawk I love my network. I had a crazy amount of clients and upgraded and it's been perfect. It was kinda sad to switch from my old ddwrt.... i stuck with it for years.
I really just want a lotto device and reliable controller for U series (and even other sticks if possible). So if they made just a lotto box without all the networking I would be happy.
It was probably just easier to include the networking stuff since the board they use already has it, that's why the S3 technically had wifi but just didn't have the antenna connected. I think part of it they wanted a product in this category of lotto mining. And I don't know for sure but I still think it would not suprise me if they somehow tied it in with hashnest stuff. For example show hashnest speed, etc. I could be completly off and they don't do that. But I have to think it was designed more then just 5G of mining. But if they did just make a solid U3 controller out of it I would be happy.. We'll soon see if i was a right and its just a ploy to redirect hashrate to their pool. But i doubt the address is hardwired in, so we'll probably be able to flash/hack the firmware and do what WE want to do with it. I just don't think what WE want to do with is is what Bitmain wants to do with it. They are very good businessmen and i'm pretty sure if they do something like a new kind of product, its to make more money. |
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Yes your link and the one above were what I was referring to. Used to have Bitcoin Wisdoms price graph up 24/7.
I just wouldn't mine and call it an investment right now, considering my costs + the stepped up cost after a certain level of usage.
I lucked out with mining, didn't make a bunch of coin but didn't lose money either.
I miss it and have been lurking to see if there are any worthwhile machines.
Depending on your electricity costs and location, it might be possible to find a miner that could suit your needs. If you need a sounding board to throw ideas back and forth, let me know. |
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So I see 9 single headed cables that go into your s-7 from the miner.
to get proper voltage you need to measure at the plugs attached to the miner which means probes into the top of the pcie jack. risky to do but possible to do.
I will photo. in the morning
I'm not sure what you mean by using the top of the PCI-e jack, meanwhile using the PCI-e connector should be safe?; The way i do it is just stick the pointy probes in the back of the PCI-e connector, where the wires goes in. I suppose you need some long/pointy enough probes but that should let you check the voltage that goes into the miner without risking shorting some pins. |
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What does qualify as a "My Wallet Bitcoin Users"? Because i doubt there's 4.5m users on blockchain.info. Maybe 4.5m privkey? And i'm not sure about BTC growth and i don't think anyone is. We could be looking at BTC being at 1k or 10k or 1$ in 20 years. So exponential up until a cap is possible, but there's no telling either way i'd say. |
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Idk, bitcoins are very valuable in the since that it takes a lot of money now to mine them with electricity costs, mining hardware, and that kind of thing... So in that sense, I believe that it should be a sellers market that miners can work up a price on their own...
Kind of like the same way farmers create a price for what price point Tomatoes, Cotton, etc. would be.
This is a good point, but it doesn't make me feel better about it. IF it's a seller's market for the miners that means all we're paying for is the miner's cost and effort, not some additional value that's passed on to us. Are you saying that the miners are making the market (i.e., determining the price) of bitcoin? This is a scary thought. Myfe. Naw the miners only receive the supply and the TX fee rewards. If all miners decided to hold and no longer add any BTC to the liquidity then i suppose that would cause a rise in value, but honestly i don't think most miners could do that since its many will want to recoup their costs. Also as a miner, holding, at least for me isint a very good strategy. |
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In https://bitcointalk.org/watch_board.php if i try to enter for instance Beginners & Help i get Invalid board if i try the path for example; "Bitcoin Forum > Other > Beginners & Help" it also does not work. So is my browser derping or i missed something overly obvious? Entwr the board ID . For instance in the Begginers & Help section, you enter the number 39 then click watch then the board will be in your watchlist Worked perfectly in my case. Oh wow. *Facepalm*, *_*. Thank you. That will help me keep track of the good deals that come fast and leave fast. |
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I was hoping someone would post a good link to a btc mining calculator, it's been months since I checked and we all know how long that is in bitcoin years ;-)
Difficulty rises will get ya and where are you planning to plug in 50 miners?
Not in any average home.
You will require some serious access to power or you WILL be burning things down :-(
This one that was linked/referenced several time before on this page  https://bitcoinwisdom.com/bitcoin/calculatorJust make sure to edit the difficulty increment value to your estimates and remember that in 9 months~ the reward will be halved, which is not counted on the calculator. |
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I wouldn't advise anyone to pay down on a batch of chips without verifying samples first, no matter who makes 'em. If nothing else it also gets you a head start on dev.
No but if i had 6 figures to invest, i could wave it in their face and ask them for a sample mini-batch. Considering that its quite a significant amount of money, that would carry more weight than a small time ASIC Fabricator asking for a sample batch to be upped conditionally. |
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WOW...I'm embarrassed to admit that I didn't know about this bubble before. This changes my outlook on the future of Bitcoin. The only significant bubble was generated by market manipulation. That's bad. That's VERY bad. It means that the market didn't truly run up the price at all. Fuck. This sucks...
That's what I didn't really understand in the first place... How could it have been possible, and if it's possible for that to happen again? I mean is there any protocols in place for exchange sites now and days to prevent this kind of thing from happening? Nope, it could happen tomorrow at perhaps any exchanges, but doctoring data has its cost and is also very much illegal fraud. So you'll be required to keep your head cool, your eye peeled for signs and make sure you don't get scammed. Just trading up by using a bot would probably be okay, even if the BTC get pushed up it would be done at a great cost from what i understand. Thanks for sharing the link to the article. Why aren't people discounting the major run up in the entire history of bitcoin as a manipulated fluke?!? I never hear anyone talking about it (or see threads on here either). Man, i'm seriously disappointed. There's NEVER been a real run up of bitcoin beyond $10 to $250...we're at the peak of the market now because everything beyond was the result of the Mt Gox manipulation. Mt Gox was a important factor in the going up on coins. But there were other exchanges like btc-e and others (I don't remember to many others that I used its been so long) But others got around the 1k to. So BTC was hitting 1k on exchanges that did not do this botting practice. But Mt Gox no doubt effected pricing. So it's really really hard to say what prices would have been without Mt Gox. No such thing as bad publicity they say. And yes many people wave the end of bitcoin flag because "the price went down 5x" but if you look at the price before MtGox and after, you'll see that even though we hit sub 200$, we are still higher than before. All in all, bad for the people who lost money, good for Bitcoin. |
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