It's working for me... It's 622 now, 0.0015 BTC. I don't even know how to cash out of it yet.

They both took a while to report any profit, compared to LTC pools I've been in. Like, over an hour.

edit - oh and my card is an R9 280x, but you should be able to estimate based on the khs in cgminer.

I got some at doge.hashfaster.com tonight and then tried multipool.us which switches between coins. At ~725 kh it mined 544 dogies (or whatever you call them) so far in about 3 hours...

It seems like some pools get swamped as the rate of doge goes up.

Oh, OK. This is the page I was looking at.

So I do need a wallet for each coin, right?

And then keep an eye on the exchange rates? There are a couple of exchanges for Doge, right?

Thanks.

I moved my miner from Hypernova LTC to Multipool out of curiosity because Doge was going up. It seems like it's working (the worker shows a decent hashrate) although I have yet to see any positive balance. I'll run it overnight and see what comes up.

My question is, in case I do see a positive balance, how do I set up withdrawals? They have a Payment Configuration feature for a bunch of different coins - do I need to use an address for that particular coin or a BTC address?

It kind of makes sense to mine the estimated most profitable coin but I can't find clear instructions on how to consistently convert the mining proceeds to BTC.

edit: Another question I'm not clear on - is the profitability measured against BTC or some other currency?

Thanks in advance.

I don't think Satoshi anticipated the crazy mining difficulty situation and the consolidation of mining.

There's definitely a room for a cryptocurrency that's more resistant to that in accordance with the original anarchist spirit but I'm sure BTC is here to stay.

Personally I just put my money where my mouth is - freedom and anarchy (in the positive sense of  both words).

OK, one update for noob traders like myself  - there's a better chart to watch than the cex.io website. Very informative. I thank the trollbox for that. I'm sure there are even better charts out there and some traders have bots charting for them based on the api...

http://bitcoinwisdom.com/markets/cexio/ghsbtc

Oh, and another thing - some traders in the trollbox were setting up a pump-and-dump circle against the bots. So if they can do it out in the open (unless it's a scam), I'm sure there's much more going on behind the scenes with players who hold real power.

How come virwox manages to do it  with both credit cards and paypal? Granted, there's a nuisance of a Second Life currency in the middle... Maybe they factor the risks into the fees and they limit the amounts you can buy to the minimum...

Oh great. Unfck the 50+1 percent please. Thank god you showed up.

That's  where, umm... "can we learning about bitcoin with him"

lol, sorry dude.

Well... isht..

Here's what I got from the coinbase "support":

"Your transaction history patterns coupled with the fraud ratings I am getting are indicative of potentially dangerous behavior, so I am going to have to suspend this account for the time being." Some dude named Raffi (hey, I'm an Israeli too if that matters).

What the fck?

Absolutely.

It's for sale, too, in case you wanted to own a piece of a landmark property. Only $2.5 mil - a bit of a discount if you pay in BTC.

73 Washington Ave Brooklyn NY 11205, pretty sure about it.

Man, dealing drugs doesn't have that ROI,  a Madoff pyramid scheme didn't have that ROI.

Selling AKs to Syrian rebels doesn't have that ROI. (An AK used to retail in Lebanon for under $100, now it's over $2,000 in Syria in case anyone wants to trade, I was really surprised).

Consider yourself lucky, but you can't count on bitcoin to keep skyrocketing as a way to make a living.

I don't think you can treat bitcoin as a 401K.

It's a relatively new concept, it's ideologically driven - you don't know what it's future will be (unlike yours and mine - we'll be dead soon). If the idea sounds reasonable to you - get along with the project, if not - abandon ship.

Sure. Waste of time and money just like the internets. Sell, sell, sell.

virwox.com does accept PayPal with very high fees and limited amounts. You need to transfer money using Paypal or a CC,  buy SLL first (it's their currency for the Second Life game AFAIK) and then convert it to BTC. It's fast but expensive and the limits are low. I wish I came up with that business plan.

Interesting. I accidentally made a couple of bucks when the price shot up after the latest difficulty increase, I thought my sell targets were way too high, turned out they were too low. Really hard to figure it out.

The market definitely has it's own concept of value and working in that environment requires a certain set of skills that I don't have.

But it's great to be able to participate with minimal risk.

And I learned a couple of things from their trollbox (love that word)  - "Me and my bot don't see the price, only the %" and "It's like trading with training wheels - you're mining while you're holding". And also that you should never listen to the trollbox.

prolom.

So VirWox worked for 3 transactions of ~$100 and then stopped working. I guess I'm over the monthly limit or something.

Coinbase support wasn't that of much help with the credit card verification issue (although they did reply suggesting to try different address spelling options) and they cancelled my 3rd order. I placed another order for 0.05, I'll see how that goes. That shouldn't be that much risk for them.

I still don't want to use LocalBitcoins but if all else fails I guess I'll have to.

I like some terms coming up in this thread.

I would describe anarchism in a general sense  as a belief that there's a tendency in a society to be capable to organize itself and function successfully without a central authority. Obviously there are other tendencies some of which are opposing it and usually prevail. Economists, unlike political activists, should analyze and point out those tendencies rather than state that this is how societies should and will work.

I grew up in a totalitarian society where the government controlled the entire economy and one party usurped political power. That lead to an economic disaster, all-pervasive corruption, horrible standard of living and a thriving black market. So I really do appreciate the benefits of capitalism.

I'm well aware of the downsides of capitalism, such as extreme inequality (I work in front of a housing project) and the lack of a social net, the power of big business etc. However many  anarchists oppose capitalism altogether taking for granted the positives  of how the system works.

Libertarian ideas mean a lot to me as well, as I grew up in a country with no human rights whatsoever. It puts me in a weird position in American politics because I wouldn't have a party to vote for even if I could vote.

In the beginning the internet seemed like an anarchist's dream - a decentralized system where everyone could organize as they wished. Then came Facebook, the Google empire, the smartphones - centralized systems based on databases easily accessible to authorities. Bitcoin idea seems to have that aversion to central authority that fuels anarchism as I understand it.

I don't think anarcho-capitalism would have any traction as far as privately funded courts and law enforcement go (that's what it says in Wikipedia). Sounds like a bad idea.