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Ok, so I'm here in Vegas, I've been walking the strip going to and from hotels, and I've been "talked to" by at least two young women wearing the tight jeans, cute, young, etc. While sweet and kind of flattering, no.
However I realized something: I chatted up someone on the plane flight over here and explained Bitcoin to him, he got it. Why not chat up the prostitutes and get them to start using Bitcoin for their transactions?
I mean Defcon is this weekend and there will be thousands of young hackers with bitcoin wallets that need lightening. What better way to help the hacker community and promote Bitcoin acceptance by explaining it to hookers?
How best can we do this? I'll talk to them; I talk to anyone with no problem, and I'd like to help as always.
Thoughts?
C
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Well, the happy "sack o' hacks" is packed and going. For all I know I could do a official presentation; I've got an outline and I can make some fast slides. Wish I had business cards though.
Anyway, off to the races!
C
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Ok, since a few people are going to be there I'm going to bring my bag of hardware hacking tools to Defcon and setting up in the lobby or something. We can do demos, pull chips from 65nm miners, and chat/swap stories about how to make mining hardware faster.
Bring something to hack, and post a reply here if you want to attend. Then we can go out for booze and gambling or something.
Post here or in my meetup thread if you want to get together, and we'll arrange time/space.
Lightfoot.
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Ok, since a few people are going to be there I'm going to bring my bag of hardware hacking tools to Defcon and setting up in the lobby or something. We can do demos, pull chips from 65nm miners, and chat/swap stories about how to make mining hardware faster.
Bring something to hack, and post a reply here if you want to attend. Then we can go out for booze and gambling or something.
Post here if you want to get together, and we'll arrange time/space.
Lightfoot.
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Out of curiosity, is anyone going to be at Defcon/Blackhat/Vegas this week? Want to spend some bitcoins on root beer?
I'll pack a pair of bitcoins and see what I can do.
C
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yes lock them so coinapult can profit.
How strange, my "If you don't have the keys to your bitcoins you don't have bitcoins" muscle is twitching as I think about coinapult. I haven't felt this since Mt. Gox.... Go figure :-) C |
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It's my understand from doing the math that if the difficulty increase is less than 17% then you will profit from joining the cloud mining entity in my sig. So if really it's only a small increase that would be huge for profitability. But like others have said you can't get much from day to day variance.
Nothing quite like a good multi-level-marketing scam. :-) |
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Funny, but really harsh on BFL. They did deliver the Singles/65nm technology, it was quite good stuff, so their scores should be higher.
I'd also give them serious kudos for releasing the source code and the schematics so tweakers like me could do stuff. No other manufacturer seems to have done that.
C
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Very interesting. I turn off my miners, difficulty increases collapse.
Makes sense, everything revolves around me of course. But still I do think we have hit a point of equilibrium. The fact that a small drop in bitcoin price is being mirrored in mining power seems to point to this.
Very. Interesting.
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No, Raystonn is right. Before now, it was possible for miners, or wealthy investors that have hired miners, to "buy" bitcoins below market price by mining them. If it's indeed true that the hashrate is leveling out because the cost of power + hardware is equal to current market price at the current difficulty, then that means miners/investors need to actually buy bitcoins at the market price to get them now. It would be quite bullish.
No, that effect would be self correcting: If the price goes up then difficulty should go up as miners bring equipment online to close the gap. Ibid down. The question is could the miners be a predictive datapoint because: 1) They are more invested than the average bear and follow the bitcoin market closely. or 2) They are dumber than rocks because they bought miners. Time will tell. I'm going to grab a box of popcorn and look into this. Good luck! |
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If true, that would mean any further drops would result in miners reinvesting with purchases of Bitcoin and holding onto mined coins instead of buying fresh mining equipment. It would essentially mean massive support.
What it means is if the price continues to drop it will be illogical to mine bitcoins with current equipment. The first to drop out will be the most inefficient, then the more efficient stuff. However this will cause the difficulty to drop which will encourage mining again, etc. What this means in practicality is one could look to the opinions of the miners as another data point on price. If difficulty goes up, it indicates miners are bullish (or insane). If it drops, it is bearish (or likewise insane). If mining goes way off the line with respect to price, it means either something really interesting is up, or miners have lost their fucking minds. C |
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Well, it is flat-lining the mining difficulty. So I think we have hit the equilibrium where bitcoin price=power to mine.
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Keep in mind the most expensive scam is when you think you can scam the scammer.
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Can we please stop talking about religion here? That'd be real nice. This IS the wall observer.
As it is the wall observer, I will ask: Does anyone think 591 was the bottom, or are we going to go down further? There's 600k in bids from here to there.
Interesting. Wonder how/if this will affect mining speed and difficulty; we're on an unusual knife edge right now with the 65nm equipment being in shutdown state < $600 a bitcoin. C |
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no. do not spend money buying miners.
no
no
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Quack Quack Quack.
(As I watch this thread slide into Duckspeak, I wonder how I can get it off my updated topics list)
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There are those of us who take Bitcoins for services, and are happy to spend them on items to allow us to sell more services.
I wonder how many other people are actually taking bitcoin as payment, then using it as money and not a simple transfer system?
C
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s1 is pulling too much energy per GH. You are better off selling them and buying s3.
I didn't buy them, thought they reminded me too much of block erupters. However if they are < 2w/gh they might still be worth something. S3 is another bad choice. Actually every miner is a bad choice. |
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Yes I did. Debt contracts create money because credit is guaranteed by govts.
Credit is not guaranteed by govt you dumbshit If you take out a mortgage and you default on it the bank takes your house and if they sell for less than the mortgage they take a loss. If you overspend your credit card and declare bankruptcy the bank takes the loss. I think the poster is pointing out that in the 2008 debacle, the Govt did bail out the banks. Granted the Govt under Obama *did* make a tidy profit on this, but there are people who do not believe this was "right". So in that case, credit *was* being backstopped by the Govt. C |
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