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Can anyone tell me why you prefer deepbit to others?
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to summarize:
Deepbit is more stable; creates less stale; and the owner of deepbit somewhat has a reputation.
Sorry for the original title of "I don't trust deepbit", even though I still don't trust it.
Reason?
I cannot meet my calculation with that of deepbit, even though I take unstable network connection into account...
My decision?
I'll have to setup a pool for myself, let my rigs "solo" together.
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If the generation rate of block is constant, allegedly only 1 block in about 10 minutes, that means the network generates 7200 BTC a day (before some day in 2014).
According to bitcoinwatch.com, current total network hashrate is 11539.08gH/s，approximately 11.5T.
Does that mean if I have a 1.15 T hashrate pool, then my pool could mine approximately 720 BTC a day?
If this is true, can I ignore exponentially increasing difficulty? I mean what I should concern as a miner, is in effect the percentage I occupy of total hashrate, right?
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You could 'buy' asset protection from an ex-wife, if you stored your wealth in encrypted bitcoins.
Good answer... for imagination.  |
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I read your argument, and I don't even care about the topic - but it affords me a chance to get something off my chest.
What is it with you newbies and senationalist topics?
When the price of bitcoin goes down 40 cents, its "CRASH CRASH CRASH" not, "Hey, see a weakness at this level - what do you think?"
When you don't have any information, you take a random frantic stab and say "THESE GUYS CHEAT!! (I think, er, well maybe)" instead of "Anyone have a similar experience? What is going on?"
I'd love to see threads that weren't headlined in the most drama-fueled way possible. Or perhaps, this is just the fallout from 'reality' shows permeating cable networks, to the point where 'news' shows parody the very events they are supposed to be objectively reporting on. It takes restraint to not stir up the pot, and whenever I see one of these "Waving Flag - ALERT ALERT ALERT" kind of posts, I just have to wonder how much sugar they've had this morning.
Anyway, back to your regularly scheduled "BTC IS DEAD" and "IT IS GOING TO ZERO" crap topics.
It's a pitty that you didn't answer the question. |
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If it is possible, and if I really want to buy some illegal drugs, I do prefer using BTC to using my bank account, thanks to anonymity of Bitcoin.
If I were in a country that forbids porn of any kind, I might well prefer using BTC to get an access of some porn websites.
If a product and service could be paid with regular currency with ease, I would have no incentive to use BTC.
Then, what products and services are inherently better bought with BTC? I'm curious.
(BTW, in exchanging markets, Dollars, Pounds, etc., are all products that BTC can buy.)
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It needs a lot of imaginations to look forward into the future when it comes to such a revolutionary innovation as bitcoin.
What do you think?
In which way bitcoin can change the future, and how?
Amuse us! please.
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Speculation itself is not harmful.
No speculation could destroy any healthy economy by itself.
And in reverse, if an economy was destroyed by speculation, that only means the economy had started deteriorating even before speculated.
Most people hate speculation much the same as they hate interests, simply because they believe everything should be earned by labor rather than merely thinking a little while... in effect just as Marx did, a sign of lacking financial common sense.
In financial world, speculating should be treated as a normal and prevalent activity as are spending and saving.
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I wanna know what products or services did BTC users buy recently?
Is US dollar the most popular product traded with BTC?
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When will this happen? -- Standard BTC unit become 0.1 or even 0.01 rather than 1?
Now that 1 BTC is equivalent to around $15, using 1 BTC as regular base makes it sort of extravagant to spend BTC.
What do you think? Are there names for 0.1BTC, 0.01BTC?
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I'm not sure, but the result of deepbit calculator and that of bitcoinX.com are far from similar...(even though pool fee is considered)
Can anyone give me a clear explanation? Thank you!
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nakowa, HD 6990 is not the best card for mining
too expensive. a cheaper 5xxx series will get you more Mhash for your $ AND use less power and run cooler
so you seem far from an 'expert' to me with your naive advice to buy expensive gear.
I know 59xx is much more cost-effective, sadly, I didn't manage to buy more of it. |
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I am prepared to invest my time and plenty of money in buying a mining PC, and maybe buy some coins, but I want to make sure that there is a chance I might get the money back from my investment, and the best way to make sure is to ask if you personally held some dollars or euros in your hand after changing some BTC's obtained from mining.
I already asked a similar question in the newbie zone, and I got a yes answer, but I am still not totally convinced. I want to be sure that some people won something before placing my orders.
In fact, it's quite easy to sell BTC mined by yourself, since most who believe in Bitcoin think buying is better choice than mining. You're about to invest your money ('real' currency), then you'd better think for a while about risks you'll take. I'm currently running dozens of rigs (equipped with HD 6990) which were assembled last month, and I think my advices are useful to you: 1. Do not buy cheap hardwares to save money. If your hardware get damaged, what's you lose will not only be the price of your damaged hardware, but also that of opportunity (your mining rig is broken, so you have no BTC income before you repair your rig(s)...) 2. Do not calculate your possible 'profit' by peak performance of rig's GPU. A discount of 10% is almost certain. 3. Do not forget to think about accelerating difficulty. Your rigs might well mine only 0.5 BTC next month while they can mine 1 BTC right now. 4. Do not undermine the difficulty and troublesome of fulfilling the need of electricity ... 10 Rigs perhaps need a power of 12,000w! 5. Do not use Windows as mining platform. Windows is vulnerable and unstable. 6. Do not forecast BTC exchange rate too optimistically, remember, pessimism sometimes protects you. 7. Do not expect mining pools are stable, they are in fact unstable; so do not naively assume they are stable and do not calculate your future profit based on false fact. 8. Do not assume your wallets are safe... Once you have more than 10 BTC, you'll face entire different situation than you only have 0.01 BTC in your wallet. 9. Do not forget you're merely a human being, you need rest, sleep, you cannot be alert all the time, you'll make mistaks... which might well have a huge impact on your future income... 10. Do not sell BTC too soon or too late. This last advice is ambiguous but useful, since the decision depends on your faith on Bitcoin system. Good luck. You can contact me on gtalk: nakowa@21bitcoin.comNakowa [1CaqVVrkoPetMVQJivBs14JKqdX8w2rBHG Thank you very much for the good advice. And please excuse my stubbornness, but I have to ask, since this is the point of my thread. Have you held in your hand, or have in your bank account, dollars, euros, or whatever your original currency, earned from this massive mining? All I ask is a simple yes or no. YES. |
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how do you know the fact? -- I speculate that many miners are selling as soon as possible while mining. If this is true, current incentive is still too high.
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I am prepared to invest my time and plenty of money in buying a mining PC, and maybe buy some coins, but I want to make sure that there is a chance I might get the money back from my investment, and the best way to make sure is to ask if you personally held some dollars or euros in your hand after changing some BTC's obtained from mining.
I already asked a similar question in the newbie zone, and I got a yes answer, but I am still not totally convinced. I want to be sure that some people won something before placing my orders.
In fact, it's quite easy to sell BTC mined by yourself, since most who believe in Bitcoin think buying is better choice than mining. You're about to invest your money ('real' currency), then you'd better think for a while about risks you'll take. I'm currently running dozens of rigs (equipped with HD 6990) which were assembled last month, and I think my advices are useful to you: 1. Do not buy cheap hardwares to save money. If your hardware get damaged, what's you lose will not only be the price of your damaged hardware, but also that of opportunity (your mining rig is broken, so you have no BTC income before you repair your rig(s)...) 2. Do not calculate your possible 'profit' by peak performance of rig's GPU. A discount of 10% is almost certain. 3. Do not forget to think about accelerating difficulty. Your rigs might well mine only 0.5 BTC next month while they can mine 1 BTC right now. 4. Do not undermine the difficulty and troublesome of fulfilling the need of electricity ... 10 Rigs perhaps need a power of 12,000w! 5. Do not use Windows as mining platform. Windows is vulnerable and unstable. 6. Do not forecast BTC exchange rate too optimistically, remember, pessimism sometimes protects you. 7. Do not expect mining pools are stable, they are in fact unstable; so do not naively assume they are stable and do not calculate your future profit based on false fact. 8. Do not assume your wallets are safe... Once you have more than 10 BTC, you'll face entire different situation than you only have 0.01 BTC in your wallet. 9. Do not forget you're merely a human being, you need rest, sleep, you cannot be alert all the time, you'll make mistaks... which might well have a huge impact on your future income... 10. Do not sell BTC too soon or too late. This last advice is ambiguous but useful, since the decision depends on your faith on Bitcoin system. Good luck. You can contact me on gtalk: nakowa@21bitcoin.comNakowa [1CaqVVrkoPetMVQJivBs14JKqdX8w2rBHG] |
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I am prepared to invest my time and plenty of money in buying a mining PC, and maybe buy some coins, but I want to make sure that there is a chance I might get the money back from my investment, and the best way to make sure is to ask if you personally held some dollars or euros in your hand after changing some BTC's obtained from mining.
I already asked a similar question in the newbie zone, and I got a yes answer, but I am still not totally convinced. I want to be sure that some people won something before placing my orders.
In fact, it's quite easy to sell BTC mined by yourself, since most who believe in Bitcoin think buying is better choice than mining. You're about to invest your money ('real' currency), then you'd better think for a while about risks you'll take. I'm currently running dozens of rigs (equipped with HD 6990) which were assembled last month, and I think my advices are useful to you: 1. Do not buy cheap hardwares to save money. If your hardware get damaged, what's you lose will not only be the price of your damaged hardware, but also that of opportunity (your mining rig is broken, so you have no BTC income before you repair your rig(s)...) 2. Do not calculate your possible 'profit' by peak performance of rig's GPU. A discount of 10% is almost certain. 3. Do not forget to think about accelerating difficulty. Your rigs might well mine only 0.5 BTC next month while they can mine 1 BTC right now. 4. Do not undermine the difficulty and troublesome of fulfilling the need of electricity ... 10 Rigs perhaps need a power of 12,000w! 5. Do not use Windows as mining platform. Windows is vulnerable and unstable. 6. Do not forecast BTC exchange rate too optimistically, remember, pessimism sometimes protects you. 7. Do not expect mining pools are stable, they are in fact unstable; so do not naively assume they are stable and do not calculate your future profit based on false fact. 8. Do not assume your wallets are safe... Once you have more than 10 BTC, you'll face entire different situation than you only have 0.01 BTC in your wallet. 9. Do not forget you're merely a human being, you need rest, sleep, you cannot be alert all the time, you'll make mistaks... which might well have a huge impact on your future income... 10. Do not sell BTC too soon or too late. This last advice is ambiguous but useful, since the decision depends on your faith on Bitcoin system. Good luck. You can contact me on gtalk: nakowa@21bitcoin.comNakowa [1CaqVVrkoPetMVQJivBs14JKqdX8w2rBHG |
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I even speculate that someday in the future one BTC worth $1000...
HOWEVER, I don't understand why can't other sell BTC now?
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And no more messages from nakowa?
I'm telling you.....again my theory....
Everytime a "BTC stolen" story gets bumped to the bottom of the page or off the page a new one pops up. Legit? I don't know.
But it's like clock work. It's like the troll brigade just wants that front page of threads to be tainted with scandal. I don't buy it. Or I should say, I'm very skeptical.
What do you have in mind? I updated some info by editing the original post. You're not skeptical, you are dark. Don't you see the blockexplorer link I've post? I lost all my BTC. However, do you think I should cry for it everyday? In fact, I'm busy on updating my BitcoinX (An AutoIt Shell for the official bitcoin client for windows. ) http://forum.bitcoin.org/index.php?topic=23791Because I have to work on a virtual machine - I'm using a Macbook air, I had no time to back here for crying... |
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unfortunately, I was cracked, and lost 40 BTC...
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