See now this is pretty cool! People actually using btc for normal day to day things.

Well that is really, really poor on the behalf of PayPal. But I can confirm in Australia there are no fees for family/gift transactions.

If you sold an item on eBay, say Bitcoin, someone buys it and sends your their address via eBay message. You transfer the btc to their account. Its all locked in, proof of all steps have been secured why and how is it still possible to reverse the charge? eBay permits the sale of "virtual currency" surely PayPal should understand this, considering PayPal is now owned by eBay.

Just woke up and found some good replies here. I like the look of the hardware gear but I believe I can secure my data at home in my safe. I looked at that website bitcoin paper wallet and they suggest there is a bootable ubuntu cd where you can generate public and private keys offline which seems like its as secure as it would be.

I also found a way to get the private key out of bitcoin qt so I can generate a new key, print both out and use that as a paper wallet. Something else I need to get a grasp of, is the total btc in my wallet the cumulative total of all btc on the addresses I have in my wallet? How do I get them all onto the same address as there are key there I don't use but have received funds.


I just did a little test with some Litecoins I had. I printed a paper wallet. Sent coins to that address. I then importprivkey into litecoin qt and after about 5 minutes those funds are in the wallet and the address is now part of my receive addresses. Is it safe to reuse this same address for paper backups or is it advisable you use a paper address once only.

Another qn I need answered regarding backups. If my wallet.dat is backed up today with all of my addresses and total balance at 0.1btc and tomorrow someone sends me 0.1btc and my hard drive fails, will my backup of my address be linked to the 0.2btc across the ledger on the network or is that 0.1btc lost?

Hi all,

I hope I do not get flamed for this.

This is all regarding backing up my wallet and such.

Now how does this work? From what I gathered, bitcoins are stored on an address(if you googled my address for example, it would show you all the ins and outs and you could come to a conclusion of the amount of money in that address). Is 1 backup sufficient in this case? Or is my whole thinking wrong and that you need to make a backup every single time your wallet value changes.

I use bitcoin qt wallet. I have my wallet encrypted with a random password stored as a print out in my safe. Is this as safe as I could be? Some suggest using a paper wallet. I used bitaddress.org to generate 3 addresses. How do I use these? Do I simply my send my btc to the addresses on these print outs? How do I then spend it or get the btc out of the account?  Is this a multistep process where you load the address into bitcoin qt then use the private key to unlock the wallet and access the coin? How can I trust that no one else has these numbers?

I really should be good at this but even I am a little confused.

I'm paranoid and you can understand why. An electronic backup of your BTC is never enough. I really would like it down on paper so long I can grasp the methods of storing and accessing my btc.

I did some searching prior to posting this. If these are answered else where please link the relevant sources.

Can someone point a noob into a good path for protecting my BTC? I currently use Bitcoin Wallet QT or what ever its called. I have backups across all my drives and 2 USB drives.

In the event my drive fails, do you just restore wallet.dat into the BTC directory?

How do I achieve a hard copy backup(paper)? Do you need to create a paper backup every single time your balance changes? Do you need to create a soft copy backup everytime your balance changes?

I have over 800feedback on eBay trading with PayPal. The best advice I can give in regards to charge back is leave NOTHING in your PayPal account. If they decide to charge back, PayPal cannot take money from your bank account, only your PayPal account. If funds not available = funds cannot be rolled back. PayPal are useless on this matter.

No matter what proof you provide them, if they say the transaction was fraudulent, you lose. Some people are morons though, they will attempt to claim back using the "item not received". Screenshot's, email history etc will suffice.

Leave PayPal accounts DRY! Also receive funds as gift/family, no fees and from what I am aware, no charge backs.

I run two S3 miners off an 850 Antec PSU which has 2x 40a rails and 2x2 pci-e cables.

Will your PSU handle it? Absolutely. I ran one S3 miner off a 500w fsp for months without any issue. The cables get warm and by warm I mean barely noticeable.

This is why I believe there is so much potential for BTC and cryptocurrency in general. I remember when PayPal first came into light, it seems so strange and foreign. Now I can go to a number of stores where PayPal is accepted and you are often rewarded for using it!

Although there has been a decline in BTC value, the future is not as predictable as you make it seem. I sold 3 BFL units in the last 3 days. Who buys BFL units? People looking to start get into mining. Everyday people read and learn and become captivated. Unfortunately, there are many out there who believed that a BTC should have been worth $1100USD all the time. This is not the case. Its dropped down and its sitting flat line. If it retains its current value, ASIC machine will retain value until new tech comes out.

The more I look into BTC the more I am seeing become useable. More people online now accepting BTC as payment. Hell if my boss decided to pay me 3btc per week for work, I'd take it. It needs to become readily available. Anything as new as BTC will still seem extremely foreign to non tech savvy people.

One day electronic currency will completely replace fiat currency. I'm not talking about tap and go with your mobile phones, I'm talking systems like we see in place here. If you could tap n go with your BTC for a meal during your lunch break, it would be great. As long as it remains a decentralized and can't be 'taxed' and 'regulated' by governments then this is something that will be around for a very long time.

When I first started mining, I went into it using a cheap BFL jalapeno I bought off of eBay. From there, and I kid you not, I moved onto 4Th/s consisting of two S3 miners and 3 bigger 1th units. This was all within the space of 4 days. I now sold the BFL's at a small profit. I only do this as a hobby, on the side thing. I'm currently up on my investment which is good but has been slow as of late.

Down here in Australia, the S1's sell between $50 - $170. S3's sell for $150 - $200. I got both of mine under $200 each and so long BTC stays where it is, they will retain value unless game changing hardware comes out.

Ditch the S1, get yourself an S3(same power consumption, more than double hashing power) and give it a try. If you don't like, pull out.

Being a novice to mining, is a setup like that suitable for solo mining or with the current difficulty and size of pools is it pointless to solo mine?

I don't think anything like that would be profitable in Australia. Electricity to run my 4 miners cost about $13/24hr AUD. Even with my current setup I switch it on only for certain times and hope the pool gets lucky and finds some blocks in the gaps.

Is there anywhere I can buy a new board from? It running at around 900ghash now but I wouldn't mind squeezing a little more out of it.

Yes, it is a CoinCraft(BitMine.ch) machine. My boards have all the same stickers and components but your board is marked v4, mine is v8. Can I buy replacement boards? I was thinking of just desoldering and removing all the damaged components or if I can find a way to kill the power to that side of the board.

Hi all,

First post here. Got an issue. I setup my bitcoin miner, switched it on and watched speeds on the web panel. The speed on module 5 started slowly dropping before it would completely switch off. I restarted the unit and it would respond the same way.

I decide to delve into the box. This is what I found.



Two blown caps, 4 blown R158 chips and damage tracks.

Being somewhat new to mining what boards can I use in this machine? Where can I buy replacement boards? Would you deem it safe to keep using this board? The damage is done, I just don't want to be wasting energy passing through the board for no reason. The board still does 150ghash on one module and zero on the second module.

I am in Australia, so if there are any folk here in Sydney who may have a spare board, shoot me a PM and I'll see if I can pick it up.

My unit looks like the CoinCraft Desk unit on Bitmine.ch except their image is in reverse and you cannot see fans infront of the unit on their site where as mine has 4 fans(2 front 2 rear).