A group of friends of mine have started an escrow service and bitcoin exchange company here in Greece. It targets mostly the Greek and European people market, but anyone can use the services that they provide. They asked for my help so I'm letting you people know. Services: 1. Escrow at low cost with total anonymity. 2. Buy & Sell bitcoins for you with minimal comission via paypal.] Cash and/or IBAN deposit (see below, Update 2) If you have anything to propose to make their service better, or you live in Greece and you're at any way involved with Bitcoin, please contact them. http://bitcoinvest.eu/Thanks for reading. |
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Ah, the silence of the farm is... intolerable!!!  |
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It's posted some posts above: Sorry for this.
Recent USD/BTC rate rise caused the pool's hot wallet to be drained MUCH faster than usual and I had to manually refill it. Delays up to a few hours were experienced, but I think that it never happened for a 24h in a row.
As you may know, the rate is now all-time-high, so lots of users are cashing out.
Report to moderator
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Better late than never. My miners are at full throttle again.
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It's gonna be the mid-time before the massive ASIC production runs in. I expect about a month (or less) before I switch off my 5970s  |
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Has anyone got a solution on Long Polling error?
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Same here...  |
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LOL! true story... |
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...They (both ASICs manufacturers & the BTC network hashrate managers) want to make sure the transition will go smoothly.
Who the hell are the "BTC network hashrate managers"? Are they the ones making crop circles?? Didn't you know that Satoshi Nakamoto is an alien?  |
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I agree with dirtycat's position. After ASICs are out the majority of GPU miners are going to quit mining. That means, the only hashpower will be coming from the second gen machines. No matter how many of those are there, they probably will fail to match (instantly) the current network hashpower. Have you ever wondered why they're not shipping single units right now and they wait until they have a mass shipment out? That's simply because they want the current network hashrate ( http://blockchain.info/charts/hash-rate) to be taken over without drops. That means the current 22500GH/s is matched with (at least) 375 BFL's SC singles (or equivalent). They (both ASICs manufacturers & the BTC network hashrate managers) want to make sure the transition will go smoothly. Now: Just imagine your current 1BTC/day setup that settled you back $2000 to buy, suddenly produces 1/10th the BTCs you make now; won't you just quit? I'd easily say ''yes''; but there's a case I won't. That case will be *IF* I'd still (somehow) manage to make a fraction of my current production at a cost that pays my electricity bills; or even better somehow maintain my current BTC/day production. If MANY people quit GPU mining, I might as well (it's a faint scenario) continue to mine with my 5970s for as long as it's fair for me... All in all: I strongly believe that the transition from GPUs to ASICs will not occur instantly. There will be a fair amount of time that miners will be on the verge "to ASIC or not to ASIC". If the BTC production for them make a quick payoff, I personally will quit mining and (for a couple of weeks) will only buy cheap bitcoins (a rough estimation will be about $5 to $6 each). Then I'll use my freshly aquired BTCs to get myself a couple of ASICs... Cheers. |
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If you count the factor that fiat money can be made out of thin air, versus the BTC is only made once, this fact only gives BTC an enormous plus for the years to come. Chances are (and I've written it elsewhere) people who are in possession of BTCs in the future won't have the slightest will to sell them off for fiat money.
If I can make a correlation that would be with the value of diamonds nowadays. You know what gives them power? The fact that they're numbered and filed under strict market regulations. Otherwise it's only crystalized carbon. My bet is that if BTC continues to lie around within the next decade it would be -literally- priceless. If you'll own them you won't want to sell them at any price fiat money can give you.
So; one might ask: "How will the world go around?"
Here's a thought: More "strict" money will have to be made. Litecoin is a nice example. Less valued, more to float around, but no one can make them out of thin air too. This will have to be the next lower step towards BTC exchange value. Fiat money will continue to float too. But they will have less value than today (as it's been done since 1930's).
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Hi,
I have e problem: one worker keeps working, but the stats from the site says "last share submitted 12 min ago"
What is the problem, and how can I fix it ?
Thanks
Try restarting the miner; it usually works for me. Cheers. |
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I have about 0.7GH/s on Diablominer via http proxy at my office. Deepbit works like a charm with it. Your page proposes a configuration but its not possible to resolve / get work from pool.bitarena.net:8332 like my other miners (phoenix). If you have any ideas, just whistle. I do have my other 2.0 Gh/s mining with you. Let's see what happens  |
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I was referring to the mental ability and not the IQ as a measurement. He/She should be a mind blowing person if ever existed.
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Do you truly believe this is one person's job? If he/she's real, he/she most definitely has PhDs into:
1. Economics
2. Computer Programming
3. High level Mathematics
4. Statistics
5. Forensics / Cryptography
... and most possibly on several other fields too. I'd classify him/her as a top rated IQ man/woman on a level over 200. IF he's/she's one man/woman you will definitely knew he/she was around. Every time he/she was starting to talk everybody would stare.
No. IMHO it's a team job.
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Let's not forget the people who are getting involved everyday. The flow is geometrically advancing. Mining, on the other hand, is not advancing at the same pace; so since more and more are getting involved (as investors), more and more will ask for BTCs for their fiat money. So it's not only about hoarding; the real bet here in my opinion is that wether this *rally* will stop (if it ever does)...
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Will this centralize bitcoin mining in even fewer hands?
Do you think the markets have already taken this into account in deciding the price of 1 BTC?
I don't believe that it will keep BTC Mining in fewer hands. As a miner myself; I can certify that I will continue to mine even if I don't have the money to buy an ASIC. I don't know at what rate but; I will definitely continue. As per the BTC exchange value: My guess is that 1 BTC will be well over the double of the current market value. This will happen within a short term (earlier than January). As Bernanke decided to "print", the BTC value will continue to rise. As the difficulty to mine will rise, the value should follow too. Those are the main reasons I believe so... ...of course I'm not God, so don't take my words for granted. |
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Well, the block reward occurs at block 210,000 (when 10.5 million coins are issued, which is half of the 21 million total.) So there's about 80 some days left (probably near the end of November): - http://www.BitcoinClock.comAh, then my calculations are wrong; but my speculations are getting stronger!  |
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If my calculations are correct, this should be the last week before block 200,000 is solved. That marks the 25-Block chain and I expect (hope?) two things to happen:
1. ASICs will start to float from anytime now (yes, I think they're ready and waiting just for that).
2. Exchange value of BTC-USD/EUR will go up.
What do you think?
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