Not worth it today you mean. If litecoin was $100 per coin, you might feel different. Plan for the long run future, not selling cryptocoins short. Still not worth it. If I was going to pay $9/month in electricity to mine $2.44 worth of LTC, then I just lost $6.56 for no good reason. Instead, it would be much smarter to put that $9 into the coins themselves. Then, at the end of the month, I have $9 worth of LTC, instead of $2.44 worth of LTC. Mining at a loss makes no sense. Buy instead of mine at that point. |
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The client pays, and it'd be up to a programmer to figure out how to make it work. Maybe a special torrent client has to be used for hosting the files? I don't know. service.com publishes payments downloaders committed to paying to storage nodes, so storage nodes can check that they are trustworthy I don't understand what you mean by this. Client payments shouldn't be on a per-download basis, and all the client fees are paid up front to service.com, who then distributes them to the nodes. No trust necessary. It sounds like our goals aren't quite aligned Sukrim. Why not just have a regular web login system for the clients? My goal with the project isn't to serve anonymous file storage. That'd just allow people to upload all sorts of illegal nonsense and put service.com in a world of hurt for organizing it all. |
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I guess it just begs the question, which I am sure has already been asked- why? I mean you're free to develop it, and I'm sure people would really love it, but I'm curious as to how useful it would really be. Since it will still be *years* until BTC is spendable at any place you normally visit in real life, I think it's a bit premature to be designing something that will be outdated by the time it's useful. Until then, why not just get a smart phone? (Or you already have one) and use that?
Smartphone you say? Grandmas can't use smartphones. Forcing a device into the public space before there is clear demand certainly is a high risk venture but a do-it-all bitcoin device could potentially (if done right), lower the barrier to entry massively. This would give the network effect something to expand into easily and quickly. But still with great risk, comes the possibility of great reward. When Apple first coined the the name for it's "revolutionary" device the "i"-Phone I chuckled at the silly sounding name. iPhones were nothing special back then, there were heaps of mobiles with cameras and such. The iPhone however made a very polished, easy to use device that delivered a simple, straightforward and enthralling experience no other phone out there could. Maybe the Ellet could also deliver a simple and straightforward experience for Bitcoin finances (or maybe the Bitcoin card can). It's a tough ask but even if it just makes things a little bit easier it's worth doing. Jesus christ, someone actually gets it!  So most grandmas can't use cell phones now, but some can and that number is only growing. And lots of grandmas do use tablets. The number of nontechnical users is shrinking in every demographic, and targeting shrinking demographics seems like a strange idea to me. While there are grandmas without phones and email addresses, I also don't see them ever using bitcoin. Of course, the ellet isn't directed only at them, but I still agree that it seems like this is a device that will be outdated by the time it is useful. Smart phones are going to be ubiquitous very soon. At Google I/O 2011, they said they are expecting their current smart phones to be reselling for $20 or $30 in 2 years. While a watch that serves as my wallet and only my wallet for security reasons is a cool idea, I still see a smartphone app as a much easier entrance to bitcoin for the vast majority of users. And the iPhone was nothing special? Really? You immediately contradict yourself by calling it "a very polished, easy to use device that delivered a simple, straightforward and enthralling experience no other phone out there could." How is that not special? I'm confused. Does that $20-$30 include a contract? Because if so, I know plenty of people who are unwilling to tag an extra $15-$30 on to their cell plan for data. If Google is selling these for $20-$30 without a contract, then color me surprised! |
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The biggest issue I have with something like this is that the funds you invest in the fiat currency could see decent to really good return, but the value in BTC of the asset we would invest in could still go down if the price of BTC rises.
I think it still has a role in the larger investing market, and may be a decent way to hedge BTC value drops.
That's not a problem. If you believe BTC will outpace other investments, then you have no reason to invest in other investments to start with. If you believe in diversification of your investments (i.e. not putting 100% of your funds into BTC), then you shouldn't have a problem with some of your investments (a fund like this) being outperformed by others (BTC). |
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I haven't found a programmer capable of it so far.  |
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I still say that the client should create an index file (of sorts) with random salted checksums prior to uploading the file. Perhaps several thousand of them. Then each day, the client sends out a request to complete the salted checksum to every node hosting the file. Those who successfully complete the salted checksum and match the index file get paid - those who don't, do not get paid.
Alternatively, the client could upload this salted index to the central entity, who would then send out the checks. Clients may not be online 24/7 to verify file integrity, but it'd be a simply job for the central entity to do.
The file wouldn't take up much storage space, but would ensure 1000's of days of file integrity verification.
Also, whenever the file is downloaded (whether it be by the client or by another node wishing to host the file), the hosts are paid for that week by percentage according to how much data they provided during the download.
So node payments:
- Would be weekly.
- The node would have to meet the checksum requirement 100% every day for the week to be paid for it.
- If the file is downloaded at any point in the week, the nodes would split the payment according to how much of the file they provided. Higher-bandwidth nodes would be paid more for this reason.
- If the file is not downloaded, the nodes would split the payment equally.
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Does your internet connection have any trouble with processing all the getwork requests for 35 GH/s? Do you think you could do double or triple what you are doing now without any problem? What sort of internet connection and router do you use?
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I wish I had some money to put into a Detroit subdivision or two. Would be an awesome investment IMO, since you can buy some of the houses for < $5k.
Interesting how cheap housing is in those central states though. Heck, cheaper than a car in a lot of instances! Weird...
Around here, the only thing that $25k will buy you is a trailer-trash mobile home on rented property. The cheapest piece of land (with nothing on it) would start around $40k!
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Even if as much as 100 TH of new hardware is delivered all at once on release day, anyone able to immediately use the new hardware will recover about 25% of their investment in the first 2 days (if starting right after a difficulty adjustment).
If software isn't ready and tested in advance, it will be a mad scramble to figure it out as the first units arrive, and minutes will be significant. Please arrange for at least one mining program to be tested in advance and ready to be used the moment deliveries occur.
This is NAIVE. BFL will "test" all prepared units. At the time they start to ship and your HW will be delivered, the network difficulty will be already adjusted (multiple times up). Remember my words. They test them using their own algorithms, and checking whether the results match their expected results. |
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Then don't buy it.
Sure, but this doesn't solve the problem that a bad guy will get the mining ASIC at a much lower $ - GHash/s ratio. So can everyone else at that point. |
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BitFloor has such low volume though. If I wanted to cash out 1000 BTC, I'd be SOL.
You'd just have to put up a wall and wait a day or two for people to sell in to it. |
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So if you want to whine about ASIC's try to be honest and not bring "good of Bitcoin" into it. Go and whine like "ohh by October my FPGA will not pay for itself, my investment went baad, gotta go to work for Wallmart again!" This. Most of the whiners just fear that they wont get rich anymore with asic around. Now they can prove that they're in for the project and not only to profit. This 51% bla bla just sucks. My fpga will be paid off when asic hits the market  I'm ready for the future. The problem is, there is no other use for a mining ASIC besides mining, so after the sales to the community goes down, BFL could only make more profit by selling more chips. What if now the evil whoever will ask them for 'The network hash rate + x%' in Chips with usual discounts? Then don't buy it. |
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Still no answer to my email, but I sent it on the 23rd, so... it's probably still waiting in the queue.
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/killself c'mon guys quit telling me to sell my card on ebay.... What happened to bitcoins being our purchase method, Im in the forums because i DONT want to use ebay and get PayPalDollars And have people pull bullcrap like "i say it doesnt work, Chargeback, Thanks for the free card" https://bitcointalk.org/index.php?topic=83987.0They're telling you to sell on eBay because no one into Bitcoins WANTS a 6990 right now. It's a card that will soon be unprofitable to mine with, and even though some Bitcoiners are inevitably gamers who will use the card for other purposes, there's such a saturation in the market of people wanting to unload video cards that it's no wonder you can't get a sale here. So, people are giving you good advice regarding selling it outside of the BTC world - you'll get a lot more sale price for your card. It's going to be difficult to sell video cards in the Bitcoin marketplace for a long while now. OTOH, maybe you'll get luck and someone will start arbitraging video cards, snatching them up on the cheap from other Bitcoiners, and reselling them for a profit on eBay or Craigslist. |
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Is it worth it to CPU mine Litecoins right now? Does the revenue outpace the cost of electricity?
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Yes, no answer to me yet. It rather concerns me that at least one person has reported BFL shipping their order out when they didn't want it. I do understand that they have a lot of emails to respond to, but they shouldn't be shipping them out until they make sure that the customer isn't waiting on a response from them in their email queue.
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I'd be interested, for 2 singles (provided my order for 4 gets changed over properly to 2 current-gen and 2 SC).
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How many people bought Singles and are not USA residents?
? Fixed your sentense You might want to ask BFL, I don't see why they would answer though. Fixed your fix of his senten ce. |
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They work kinda like real bullets, but without the charge.
Think of a hollow tube, and in the tube is a piece of plastic inserted into it, which is the projectile. It is held under a little bit of pressure which helps it leave the barrel faster. In the gun there is also a firing pin type thingy, the same size(maybe smaller) as the projectile. That's what send the bullets flying.
You should watch the first video, it really shows it well.
I guess I just wanted to know what generates the pressure. It can't be gunpowder, so is it CO2, or spring-loaded, or  |
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