One wealthy someone!

Buying 1 coin for £150 on coinbase a long time ago.

I thought bitcoind already did that by default.

Jacob

Sounds like a troll post. But just to make sure, I will be sure to see if the pictures have GPS and then dig up the ground under the bird bath, maybe if hes used a weak password as stated then brute force it, and presto! My spend if I can get the GPS co ordinates? A flight to the US and the travel to his location and some accommodation, id still be in the black! But not by much. Better ROI than the KNC Neptune.

On a serious note, I smell BS.

Ecuador is another place where bitcoin is banned.

Jacob

If only, i prefer to cook my own : - ) i went to read my electric meter and you can just watch it turning XD

I guess no one would think to look on a floppy disk for a wallet, but no. I had countless floppies go bad, many are still good, but flash memory and CD-Rs are much more robust, or better yet, paper wallets.

To be fair, mining rigs use a nonce value that counts +1 until it overflows then it is sent new work to try and count the nonce with again, in a way it is a PRNG.

And a truly random number generator is NEEDED in bitcoin for things like encryption keys mind; persudo random numbers used for wallet private keys has been used successfully to steal wallet balances before.

Depends what you mean by better, gold is a physical, tangible, rare metal, bitcoin is a unique cryptographic record and a unit of account, with value because people think it has value due to it being a store of wealth and a unit of exchange. Bitcoin is akin to cash in that way, only bitcoin isnt controlled by banks but by the people as a unit of account. Gold is a physical, tangible metal, gold is a 'safer' one but both are good as a wealth store. Gold is the 'safer' one and it is something physical that will remain. Bitcoin was intended to be a unit of account

I guess brute force isn't everything : ) mine is at stock speed and is still first place Ready to crush blocks and who knows what else : - )

This is actually quite fun

If the price did shoot that high, I would be very glad for all the coins I have bought over time and HODLed. I am already in the black with this venture at current prices.

No harm in lotto mining! You gotta be in it to win it, if  you don't your not out a whole bunch with the U1. Hit, and you can enjoy comfortable returns!

You might as well for all power that little stick would use.

I would never bother buying cloud mining, and it can be pulled at any moment if the company goes bust, no better than a Ponzi in my opinion. Best spent buying the coins, to be fair or going scrypt at present. Or waiting for next gen hardware.

I would say around +6.3% increase.

I have been considering this, that the block reward halving over time may increase the number of people who no longer find it profitable to mine on pools, and more switch to solo mining, albeit with less hashrate and energy expended. The price of bitcoin keeping up with halvings may make this point of mine moot, but if the price isn't rising in line with halvings "quickly enough".

I find it profitable to mine with scrypt and ETH on pools, and I am making a reasonable sum of cash for doing this, total 0.05 BTC a day expending roughly 2000 watts of power at 11p / kWh day rate at present, 0.45 pence per kWh night. which I am HODLing. Sha mining though at a profit is practically dead in the water for me personally even with my reasonably electricity costs. The price of the S7, for example is just way too high considering the upcoming halving and the power it uses. A couple more diff jumps like we had would make mining in a pool pointless unless you had free power.

It makes more sense to reduce hashrate and power usage but still be in with the chance to find some coins, better yet solo at nodes like CKs or even your own node if your  connection is good enough; while earning actual bitcoin through mining via proxy (scrypt, etherium or whatever else) or  goods and services for bitcoin, or the most profitable venture for me personally; buying the coins.

Seems like the S7s sold like hotcakes at insane prices on ebay even recently, I was expecting the cost of an S7 on the open market to fall more quickly than it has. For the cost of 3 S7s I could buy a KNC Titan which has a much much bigger profit margin when used correctly. But a higher up front cost*

I have seen more examples of solo mining, or attempting to recently. Almost like early on, solo mining was the norm for the home user, then they joined pools for less variance, and I am wondering if it may slightly go the other way once more with the halvings, maybe not so much this halving, but the next one, unless the price had increased substantially at that point. While it may be harder for the individual to profit, it may work out better and contribute to the decentralization of bitcoin as a whole. Any individual finding a block would mean so much more to them, and an incentive to keep mining would be the promise of a potential payout.

I am unsure, I would like to see other opinions on this. 14nm equipment when available to the home miner may change this. Think of all those thousands of individual miners IN pools, who are finding blocks, if you suddenly switched loads of them to solo, some of them would still be finding blocks; just without a regular payment. Depending on hashrate.

To be fair, I don't see a problem with ASICs for three reasons.

1. Network security can be greatly increased by them.
2. An ASIC can be more stable than leaving a GPU on. I can attest to this; always find myself having to tend to my GPU farms although the code may not be refined as much.
3. Power consumption for the same security is lower.

However, there is the disadvantage where ASIC manufacturers are ahead of the game when it comes to mining at a lower difficulty. But what is the problem? They put the effort, time and dedication to making the product, they will therefore get the best returns, although I disagree whole heartedly with this whole pre-order to cover the ASIC cost then shaft the customers by mining with them themselves.


And for someone who mentioned the transactions being free, when all coins have been minted, and even before then, someone has to cover the miner's cost of securing the network and moving transactions along. The idea is TX fees slowly replace the block reward. Giving miners an incentive to keep mining, and to cover their costs.

I have never used them, maybe though it could just be varying levels of luck?

And the s7 uses a boatload of power compared to my S3 with my KNC Titan and eth setup I don't have much circuit room for more, as I still want to put the kettle and cooker on now and then . Come on my beauty! One hash out of 500 or so billion it puts out.

Interesting, what is a rental service suddenly decided to say, discard any share over the current difficulty to keep you renting? What's to stop them doing that... Probably a risk you run though... Although I have done rentals of like 3.5p for an hour and never got over 4 billion.

And still yet to be beaten : - )