Hello Bitcoin Community,
My name is Amitkumar Jayantilal Patel, i am 33 years old and i am an UK citizen. My family and parents are of Indian origins and emigrated here in UK over 50 years ago.
In the past months, i have invested around 1 Million US Dollars in mining hardware from various vendors, for a total computational power of around 200 TH/s.
Some hardware has been already delivered and it's currently mining, but most of it it's still on queue and should be shipping in the next month.
By making a forecast of the return, using cex.io tool, i came up with a potential return of ~2200 BTC in the first four months of mining, starting on March.
That means with a strategy of 90% funds reinvestment, I will have the ability to scale the computational power properly, according to the increase of difficulty.
So why I am looking into going partially public?
My goal is to reach 1 PH/s of total computational power earlier than what I could achieve with my own liquidity, so i am looking to sell out to investors a part of the operation, in order to gain the funds to develop some strategic relationships with current ASIC providers and/or put the desired power on order as soon as possible.
The financial head of the venture will be a UK registered company, with legitimate office space and support staff, while the mining datacenter is being currently setup in mainland China to benefit from low labour and electricity costs.
This is just a preliminary presentation, would like to get your feedbacks and opinions.
More details will come soon.
See here. |
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The only people who think switching over to decentralized exchanges is a bad idea are people who are heavily invested in centralized exchanges.
Think about all the hassle and headaches that have been caused by centralized exchanges:
glbse
btct.co
bitfunder
- ddos attacks
- relatively high fees for trading, withdrawing money
- long delays on withdraws
- exchanges asking for driver's license scans and other identifying information
- government intervention
The market will move towards decentralized exchanges, it is inevitable.
You're not talking about centralized exchanges, you're talking about idiocy pretending that a website theme and a lot of pretense will change nonsense into something real. Shockingly, that doesn't work. It won't work regardless of whatever new context you try to fit it in. |
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Meanwhile my bid at 125 satoshi per up to 500k sits unfilled. This is a most disorderly marketplace!
MPOE-PR, I have not forgotten you! I'll sell you 500K of my new hoard for your 125 bid, send me an ATC address and I'll go first (once my confirmations are all in and I've finished paying HunterS). If you can do 130 satoshis to avoid setting the entire ATC economy back by 5 satoshis, I'd be much obliged. But up to you. Given how hard it is to mine new ATC for the next two weeks at least, I hope I won't be selling this low again. Except for tonight's pizza buy, of course. Send to 1MPGRCrbib3aFGtTCLF5nADZcLEAgdTu7E and publish your addy. |
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must be late in canada
Yes it sure was... why can't we all just agree to live in one time zone and leave the rest of the planet to the more charismatic megafauna? Anyway, we're both awake now and This Is Happening. It's turned into Lesson Four: How Confirmations Work. We're doing it in 4 quarters, and I went first. So I'm sitting there staring at the wallet software on one screen, wondering (like any *coin noob) why the transaction doesn't even have a single confirmation yet. It's been like 5 minutes, WTF? Is it a double spend? Did all the miners go away? Who is this HunterS anyway? That was a lot of money for a joke coin with no source code, you dipstick... You know, classic "Oh crap" panic after sending out BTC and waiting for the whole counterparty risk bit to be over with. Meanwhile I have bfgminer running on the other screen, and nothing much happening there. New blocks have slowed way down since the diff change (because that's the whole point of a diff change). And somewhere in my lizard brain there's that panic moment, that something's wrong, blocks are too slow AND confirmations are too slow, what are the odds of that happening at the same-- DING! Bfgminer shows a new block discovered on the network at the exact same moment as the wallet software shows its first confirmation. (Insert Sudden Clarity Clarence meme image here.) Of course I know how blocks and confirmations work, whatamistupid? I've read it plenty of times. I've bought/sold/traded plenty. But seeing the stuff I take for granted in Bitcoin happen on a small chain right in front of me... priceless. Every Comp Sci professor who wants to teach how cryptocurrencies work should start an alt for their class, have them all set up with wallets and mining software and watch it run for the whole semester. And you don't need a Comp Sci professor to do it. Just download altcoin! , seriously. |
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A few days ago, MP (hallowed be his name) sez: Feb 02 21:24:15 <mircea_popescu> basically bitcoin got attacked in 2013 by the most unlikely of sources : the dieing start-up circus. Feb 02 21:24:42 <mircea_popescu> most nobody even noticed, or cared. except for the finest tuned of watchdogs or w/e Feb 02 21:28:00 <benkay> attacked? Feb 02 21:28:06 <mircea_popescu> well yes. Feb 02 21:28:26 <mircea_popescu> "There are more transactions of the cryptocurrency than Bitcoin, although it is only worth a tiny fraction of Bitcoin." Feb 02 21:28:31 <mircea_popescu> http://www.sbs.com.au/news/blog/2014/01/29/blog-dogecoins-message-chinese-investor-wolongFeb 02 21:28:38 <mircea_popescu> it's quite clear if you do aggregate counting. Feb 02 21:29:06 <mircea_popescu> they are attacking bitcoin. perhaps in the manner an ant attacks a rhino, but nevertheless. as far as the ant is concerned, in its own system of representations, that's what's going on. Feb 02 21:29:30 <mircea_popescu> http://log.bitcoin-assets.com/?date=31-01-2014#469653Feb 02 21:30:25 <benkay> entertaining and all but from the ants perspective how is what they're doing an attack? Feb 02 21:30:45 <mircea_popescu> ant will kill rhino, skin it, wear the skin as king of the jungle. Feb 02 21:31:01 <benkay> like 'i am startup and will rule all the buttcorns'? Feb 02 21:31:14 <mircea_popescu> because if you get more fuckwits to retweet your inane shit you will thus therefore be "bigger" and "more important" than people with fewer retweets. Feb 02 21:31:22 <mircea_popescu> it's web start-up brain rot, quite typical. Feb 02 21:32:15 <mircea_popescu> in principle, every circlejerk imagines itself "the only thing out there". like, the us thinks it's "the world". any us court thinks it has universal jurisdiction. any us politician thinks that his decisions matter universally. Feb 02 21:32:41 <mircea_popescu> the va circus, as hopelessly fucked as they are, imagine that "all entrepreneurship" is... well... them. Feb 02 21:33:07 <mircea_popescu> that they will be crushed by much larger things that exist independent of their knowledge or understanding is about as aliento them as mpex customers to jimmothey Feb 02 21:33:59 <mircea_popescu> so basically what we have here, is "everyone" in the sense of "everyone that goes to tech conferences in SF and reads techcrunch religiously" figures they can take over this novel idea. Feb 02 21:34:02 <````> i can vaguely recall some very negative sentiment on ycombinator and else Feb 02 21:34:18 <mircea_popescu> ;;google ycombinator jointly and severally Feb 02 21:34:19 <gribble> Ycombinator continues to suck, jointly and severally : Bitcoin - Reddit: <http://www.reddit.com/r/Bitcoin/comments/19en4a/ycombinator_continues_to_suck_jointly_and/>; Series AA Stock Purchase Agreement - Y Combinator: <http://ycombinator.com/seriesaa/Series_AA_SPA.docx>; European reforms are not enough, joint liability needed: <http://nextbigfuture.com/2011/12/european-reforms- (1 more message) Feb 02 21:34:21 <````> then the silicon valley bank deal came (which ended nowhere) Feb 02 21:34:27 <mircea_popescu> there you go. Feb 02 21:34:43 <benkay> well sv bank can hardly be thought of as a high finance operation Feb 02 21:34:48 <benkay> they do payroll and what have you Feb 02 21:35:11 <mircea_popescu> anyway. an attack it is. Feb 02 21:35:29 <mircea_popescu> ironically, while the correct move may seem to be to support ltc to crush them back into the swamp, Feb 02 21:35:40 <mircea_popescu> the actual correct move is to simply support other alternatives to burn their underbase.Feb 02 21:36:01 <mircea_popescu> you want them to eat ltc's lunch to some degree, much like you want about 50 other groups to start their own, doge-food eating bitcoin killers. Feb 02 21:36:41 <mircea_popescu> so you know... ATC/ALT getting more hash than doge serves a good purpose in the end. Feb 02 21:36:51 <mircea_popescu> (funny how nobody seems to have noticed that, too :p) Feb 02 21:37:17 <ThickAsThieves> so what you're saying is Altcoin really is the first altcoin with a purpose Feb 02 21:37:26 <mircea_popescu> hehe. myeah. Then 10 hours ago, Then 8 hours ago... Retweeted by Max Keiser Mike Murphy @m_murfy · 7h @stacyherbert @LibertyBlitz I don't think there is a server in the world that could contain the demand for maxcoin!  Max Keiser @maxkeiser · 7h The global crush of @KeiserReport fans looking to mine @maxcoinproject has overcome bitcointalk's servers. (I'm raising my price target). Retweeted by Max Keiser Bitcoin France @BitcoinFR · 8h Le célèbre @maxkeiser lance une altcoin (Maxcoin) et fait tomber les serveurs de bitcointalk. Achat/vente ici https://www.coins-e.com/?ref=6468078359543808 … Retweeted by Max Keiser MaxCoin @maxcoinproject · 7h Bitcointalk back up. Part 1 of the launch info incoming. Retweeted by Max Keiser Stacy Herbert @stacyherbert · 7h @maxcoinproject okay; http://bitcointalk.org back up; release it! Max Keiser @maxkeiser · 7h .@maxcoinproject launch http://www.youtube.com/watch?v=tRX2ntm2rXQ … Retweeted by Max Keiser Willy Drucker @WillyDrucker · 7h @stacyherbert Just a sign of how disruptive this coin will be! Retweeted by Max Keiser gonzo @death_by_pixel · 7h @stacyherbert @maxcoinproject OMG you killed BTCtalk! You bastards!! Retweeted by Max Keiser Daniel @danielthorp1974 · 7h @stacyherbert @maxcoinproject Maxcoin has made everyone 'black friday' crazy! Max Keiser @maxkeiser · 7h I got a sudden flashback to this gem from 1996 http://www.youtube.com/watch?v=6WpMlwVwydo … Retweeted by Max Keiser Stacy Herbert @stacyherbert · 7h Tango down http://maxcoin.co.uk too! Everyone wants #maxcoin! Retweeted by Max Keiser MaxCoin @maxcoinproject · 8h If BitcoinTalk keeps 502ing the launch will be delayed to make sure things remain fair, don't worry! Retweeted by Max Keiser Warren Smyth @warrensmyth · 8h Has bitcoin talk just crashed.... @maxcoinproject @maxkeiser @stacyherbert Retweeted by Max Keiser Bittylicious @Bittylicious_ · 8h @maxcoinproject #maxcoin in ten minutes and counting. Sellers, sign up now at https://bittylicious.com/application Retweeted by Max Keiser MaxCoin @maxcoinproject · 8h To avoid a mad rush we will be seeding out parts of the launch gradually, starting with instructions and help/guides to ensure fair starts. Retweeted by Max Keiser MaxCoin @maxcoinproject · 8h As a stage of the launch will release password protected .rar files for important downloads, followed by passwords a time later. I'd ask Max "how does it feel to be the cockpuppet of some guy that despises you", but as far as I know rape victims have serious difficulty relating to their aggressors normally, and so I doubt he could possibly come within 10 feet of anything of MP's anymore. Which, ironically, ensures that every nine months or so, or otherwise whenever MP feels like, Max gets used for...well...everyone has a purpose in this world, right? This just happens to be Max's, no big deal. Anyway, yes, they did actually release binaries in that braindamaged journalistic format. They were of course cracked, he lost control, all that nice stuff. Not that it matters so much: the average 512 second block alt-scam gets worn out in about two weeks, once miners crack all the easy blocks and move on. With a 30 second block scheme that time interval is significantly compressed - but none of that matters in the end. Even if Max's actions will fail miserably in serving Max's purposes, as before, they will work admirably to serve MP's purposes. And even if Max's actions come too late to help Max, they come exactly in time to do MP's bidding. This, my dear friends, is what divinity tastes like. |
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Altinos?
Altons?
Logically, altcoins. Because each part of an altcoin is equal to the whole. |
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MCXNow, Crypsy, BTCT, BTC-E?
I'm conducting a survey to determine the actual profitability of the popular exchanges.
Does anyone have any idea of what the volume is for these exchanges? What these exchanges make weekly or monthly and how we could find out?
You seem to be a bit confused. MCXNow is pure scam. Cryptsy and BTC-e are arguably functional altcoin marketplaces, and the latter attempts to offer a fiat exchange. BTCT was a wannabe stock exchange that has long since shut down. What are you trying to find out, exactly? |
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To me this is a ponzi. If people stopped playing, the last person(s) would lose their BTC. You NEED more people to keep paying to pay out the people from before. That is a Ponzi, plain and simple. Hey it's going to work for some people, but someone will get burned.
No "to you" about it. Things are what they are, and various idiots who imagine reality is layered on top of their perception rather than the other way around really enjoy the idea that they'll get something good out of doing pretty much nothing at all (but you know, being nice about it). |
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Congrats guys, thanks for posting the update. It's an hour later but I see 1 LTC is 0.02645 so 3 LTC is say 0.07935 BTC or 7,935,000 satoshi.
Divided by 100,000 ATC that's a valuation of 79 satoshi per ATC. (You must really have wanted LTC... Ladies and gentlemen, ATC is crashing! If anyone wants to panic sell, I'm here for you.
iGotSpots, are you still out there HODLING, or did MPOE-PR get to you first?
Meanwhile my bid at 125 satoshi per up to 500k sits unfilled. This is a most disorderly marketplace! |
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Haven't followed, but mildly interested. How did this IPO go? It looked like a terrible idea to me. So I see MCXNOW is back. Are investors expecting to make back their investments? Genuinely curious.
To me IMHO it seems like an incredible amount of money easily invested in something with such little security.
Well, if he follows through with what he said, this can be a great thing. He claims there are going to be weekly updates for at least 6 weeks now, with new coin additions and such. We just have to hope that he doesn't fall back into that "tomorrow" phase where it takes weeks or months to get anything done. Sometimes I wonder how scammers have the gall to come back after a short absence and act as though anyone would further fund their nonsense. Then I read stuff like these posts. You don't "have to hope". Just stop funding scammy nonsense. No amount of hoping will transmute it into something else. |
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It was a $3 thrift store purchase plus the tailor's (modest) fee, little boy. I'd rather be a nobody in a beautiful shirt than an idiot in an ugly suit.
At some point you'll have to decide if your argument is that you're rich or that you're poor, and also whether you're talking to a woman or a man. As a god, you should frown upon donations of empty vases, even more when it was full of Kool-Aid just before.
Unless you're a god that does not fancy Kool-Aid, but it's very unlikely.
How am I a god? what does MP think of IFC?
Why not ask him directly? |
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Due to the recent, temporary absence of Kate dividend payments are somewhat delayed. I politely raised my concerns in the CipherMine thread on litecointalk.org regarding this issue. Giles aka. evilscope stepped up and mentioned that he currently acts as operation manager. According to him CipherMine does not relay on Kate and dividend payments are sorted out as soon as possible. Ongoing hardware shippings are also not affected. This was further confirmed by another Wood Technology staff member. As what regards CipherTrade, it's currently in an ongoing beta and access can be obtained on beta.ciphertrade.com. There is a dedicated forum to submit bug reports, feature requests and comments. No signatures, no nothing, people just step up? Next goat is going to step up for this forum, or what, phantomscamcircuit is going to step up for mtgox. What sense does this make! One post contradicts the next, look at it! |
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Im here to inform you of the corruption within the bitcoin community to help save newcomers naive and stupid people money backed only by FACTS AND WITH PROVE
There goes my livelihood.... |
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Bank-Grade Security
Security is our main focus in everything we do. We deploy the highest security measures to guarantee our customers a safe trading environment.
This doesn't particularly mean anything, you know. Full Transparency
We follow all regulatory guidelines and are completely compliant in our operating jurisdiction. We are not hiding behind curtains but are pro-actively fighting for your trust and cryptocurrency rights
Leaving the question of what exactly you imagine a "cryptocurrency right" is aside, if you wish to make your exchange secure and transparent, this'd be the place to actually establish these points rather than follow the poor example of various failing operations that've based themselves on making the same empty statements over and over again. See here, and good luck. |
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Great XKCD link, btw... since that's your full time job, you really should tell MP it's time for a raise. The tide of newbies is rising, and I hear he had a good year last year. We're not all going to educate ourselves.
Meanwhile back at reality ranch, he cut my pay.  I used to be making 12 BTC a month all through 2013. |
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As a heavy cab user, I'd love to pay in BTC, tho' spontaneity is key. Start requiring memberships and web orders and whatnot and people might as well just get a private chauffeur. I would love to make ideas like this happen, but there does not seem to be a lot of places to share ideas to those who personally want to invest into Bitcoin businesses, along with bringing huge amounts of awareness and promotion for the use of Bitcoin
To this end, you might have a read here. It's not that you don't have where to share, you just need to do it in a meaningful way. |
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Oh that is classic, I remember that exchange. And thank you... I was sure you were going to rip into us for "wanting to be part of something" that "doesn't need us". I know it doesn't... I just want to enjoy the show, and maybe come up with one useful idea before I die. Even if that is just making crypto 1% approachable for people don't even deserve it, I'll count that as a win.
You have me figured out all wrong. And besides...how could ALT possibly not need you. |
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Doge and the other *alts act as a nice holding pen for noobs of varying experience / ability / insight who want to own a billion of something (however worthless) rather than 0.0123 of something (however valuable).
Speaking of which, allow me to link you to #bitcoin-assets' bash #1 entry: http://bash.bitcoin-assets.com/?quote=1But generally: you sound a lot more balanced than the people here. I guess that explains your handle. |
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Daily, I still pay homage to your toes and that Bic pen pic, then drink the grape Kool-Aid.  That's a nice vase. |
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For many people, Bitcoin is the first time they experienced a paradigm shift in a very long time. It's exciting to have your world rocked, but Bitcoin is not a casting call for paradigm-shifters. Way too many people think we now have the power to break apart anything we can get our hands on, and turn into little pieces that somehow work better. Decentralization is not your hammer, and stock exchanges are not your nail.
Amen brother. |
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