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Thanks klondike_bar! I was just wondering which PSU I should be picking up for my miner!
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BTC and LTC have been moving together lately (when one goes up/down, so does the other). LTC can be a better play if you're willing to be a little more risky with your money, since the value is lower, the swings are a greater percentage of the overall value of the coin. This makes it easier to "double" your money, but also easier to lose "it all" if you play the swings incorrectly.
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I use BTC-e, because I like that it has more of the currencies that I think have a lot more potential.
A lot of people use multiple exchanges so that they can take advantage of arbitrage opportunities. Arbitrage is when the same commodity (like Bitcoins) is available at different prices at different exchanges. For example, if BTC is worth $903 on BTC-e and $933 on Bitstamp, you have the opportunity to buy BTC on BTC-e for $903 and sell them on Bitstamp for $933 immediately making a $30 arbitrage.
This is a lot easier said than done, since it's hard to get cash in/out of exchanges at a hasty speed. Which is why it's helpful to already have money in the exchanges to take advantage of these situations.
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Are you aware the ASCI miners can't do litecoin?
While this is currently true, hardware is certainly being developed that will work on scrypt coins (like Litecoin). The first step towards ASICs for Litecoin is FPGAs, and a few companies have prototypes that are already hashing. It's just a matter of time! We can only hope that they are fairly priced, and not subject to the "preorder" fiasco that has plagued the Bitcoin ASIC market. Anyways, welcome to BitcoinTalk and happy mining! Also, Bitcoincoinman, just put your Litecoin rig someplace you never see it and don't let it be a "fad". It's better to forget about it and then one day, check the wallet it's mining into and see how you've done!  |
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never take any notice of what anyone says in the btc-e trollbox, seriously!  ^--- THIS, BUT NOT THIS ---v
Personally I'm into Quark coin at the moment as I think it's got a lot going for it, but it is relatively new and unproven with some harsh critics so we'll see!
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If you're technically minded, I would suggest you start working on web sties/technologies that accept or take advantage of cryptocurriences. They aren't going away, and there's certainly a lot of money to be made.
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I was involved in a lot of very nerdy clubs/groups in college, and one of the guys there told us about Bitcoin. We all looked at it, thought it was stupid, and didn't do anything about it. Years later (April 2013), one of my friends tells me that he actually kept playing around with Bitcoin and now all of a sudden he has a ridiculous amount of money and tells me to get started. I look into it some more, paying a lot more attention to the technical and potential profit involved, and decide that it's too late for me to get involved. Instead, I start mining Litecoins. Litecoins have been very good to me, in particular in these last few weeks, and they have helped me get the capitol to really sink my teeth into Bitcoin. Now I have a pretty respectable mining setup, I run a free BTC Faucet, and I frequently use BTC as a real currency. I totally understand the mindset of holding onto BTC because who knows how much it'll be worth in even the near future, but I believe that people need to spend these "currencies" if we intend to keep calling them that.  |
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I would suggest buying what you can afford right now, don't spend more than you can afford!
Then move it to an exchange like BTC-e (just NOT MtGox). Once you have it in an exchange, you can sell it off to have a cash balance at the exchange. This will put you in a much better position to take advantage of fluctuations in the value of BTC.
Set up buy orders for a lower value to try to get more BTC during a dip, and setup sell orders to take advantage of spikes. Continue the time tested tradition of buying Low and Selling high until you've got enough capitol to start taking more risks.
Good luck!
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It might be helpful to see a picture of the effected chip. I don't have any blades on hand to get a good look at it.
The fact that it first blew a fuse, then did this, doesn't bode well for your blade.
Had you not soldered a new fuse on, you might have been able to inquire about a replacement. I believe that friedcat does offer a limited warranty on the ASIC Miner products.
Post a picture if you can, so we can get a better look at the problem.
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Signing up for Coinbase is kinda of a pain, since they do require a lot of documentation and it takes about 5 days to initially attach it to your bank account then another 30 days to get to a point where it's all kinds of awesome. Once you're all setup, you can buy up to 10 BTC instantly, like REALLY instantly, and it's fantastic. When I was first starting out, and waiting for my Coinbase to confirm, I just used my friends account to buy BTC (deposited into his bank first, of course!), you might want to ask some of your close/IRL friends and see if any of them already have an account setup. localbitcoins is a great alternative to this, if you don't want to wait that long or give out your personal information. My experience with localbitcoins has been limited, but from my understanding, most/all exchanges are done using escrow (a middle man holds the funds until both parties have have confirmed the transaction) which can make the whole experience a lot safer. Alternatively, you can use it to find people and meet up in person. There is a few great write-ups about meeting in person, most of them caution you to use common sense… meet at a busy public location, stuff like that. Lastly, there's always faucets for getting BTC. They aren't fast, but they are free. P.S. DON'T GAMBLE WITH BITCOINS! You'll regret it, I promise. |
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I'm interested in 2 units, please let me know if they are still available and how quick I need to get my BTC together. Thanks!
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I logged in on http://freebitco.in today and I can't see my btc anymore, btc value is still in my personal stats but its not showing on main page. No transfers were made to my wallet. I'm writting this here bc i can't post in the official freebitco.in thread. Look on the "Free Play" page, under the top banner there might be a blue box with "Pending Payout" in it. That's probably where your BTC is. He usually sends out payments on Monday/Tuesday but gets them ready to send out on Sunday/Money. |
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I don't know if anyone is interested, but I modified the base script to allow for weighted rewards. For the creation of the rewards array, I replaced:// List of rewards in satoshi, 1 satoshi = 0.00000001 BTC.
$rewards = array(
300,
200,
100,
75,
50,
25,
10
}; // Each reward entry is in the follwing format: array_fill(0,WEIGHT,REWARD) where WEIGHT is how frequently you want the REWARD to occur.
$rewards = array_merge(array_fill(0,1,500), array_fill(0,10,200), array_fill(0,100,150), array_fill(0,100,100), array_fill(0,50,75), array_fill(0,50,50), array_fill(0,25,25), array_fill(0,20,10));
<?php foreach ($rewards as $reward): ?>
<h5 class="text-center"><?php echo htmlspecialchars($reward); ?> satoshi</h5>
<?php endforeach; ?> <h5 class="text-center">
<?php
$weightCount = 1;
$weightArray = array();
$percentage = 0.0;
foreach ($rewards as $reward) {
if($rewardAmount != $reward) {
if($rewardAmount) {
$percentage = ($weightCount/count($rewards)) * 100;
echo number_format($percentage, 2, '.', ','), "%<br />\n";
}
$rewardAmount = $reward;
echo "$reward satoshi: ";
$weightArray[$reward] = $weightCount;
$weightCount = 1;
} else {
$weightCount++;
$weightArray[$reward] = $weightCount;
}
}
$percentage = ($weightCount/count($rewards)) * 100;
echo number_format($percentage, 2, '.', ','), "%<br />\n";
?>
</h5> 500 satoshi: 0.28% 200 satoshi: 2.81% 150 satoshi: 28.09% 100 satoshi: 28.09% 75 satoshi: 14.04% 50 satoshi: 14.04% 25 satoshi: 7.02% 10 satoshi: 5.62% I hope this helps anyone interested in doing the same thing. There might be a more elegant way to do this, if you think of one, please let me know. Thanks! |
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Congrats linms-bt! Hash like an all-star.. or whatever you kids are doing now-a-days.
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I missed the drawing. For whatever reason I thought it was 4PM PST… but that's only because I did the math in my head last night and I was very tired.  |
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I'm very excited! Can't wait! Good luck to everyone, except that Textplorer guy who took the ad out of his signature last week. |
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WARNING!There is currently an exploit in the script that is allowing users to get rewards without waiting the set duration (60 minutes in my case). It appears that this issue has been resolved! Thanks Land Of Bitcoin! For those that have the faucet installed, you might want to consider downloading the newest version of the script to protect yourself from the same attack. |
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hey im new here. I don't understand these faucet sites. What's in it for the owners? The adsense ads or something?
And yes count me in for the newbie lottery:
1FdvyhKGSZRNLJ9LRrmrKZLASCHnt3ncbB
The ad revenue is probably insignificant unless you're a major faucet (like LandOfBitcoin.com or Dailybitcoins.org). Typically, most ads are based on unique IPs. Since the same ad is displaying across many web sties (most faucets use the same few ads), I think only the first one per whatever given time period is paid for the ad. Mostly, for my one, it's about giving back to the community and potentially growing it into more a resource website. I used a lot of faucets when I first started out and they helped me make my first few purchases with BTC. |
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I just setup a BTC faucet based on microwallet, please add it to your list and if you're a newbie check it out! http://multifauceted.com |
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Count me interested as well! Thanks!
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