It looks like these pools are "unknown" pools but all of the mining proceeds are being sent to the same address. It appears that blockchain.info is trying to make their pool stats more accurate. |
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Why would they need to move it to bitcoin? Really it's too late for that. But the point would be if it was in Bitcoin he could not be seized. The private investors will be attempting to seize assets all over the world including even things like spacelaunch contracts. Even if they had it in bitcoin, private investors could seize whatever assets Argentina were to buy with their bitcoin when they go to spend it Depends on how they did things. If they only spend the BTC in places that don't recognize the debt they will be fine. If the debt was not valid in China, they could purchase items in China shipped directly to Argentina. I am not advocating this, I am just pointing it out. The investors have intercepted ships before to pay for the judgment. What is to say that that the goods from China (in this example) could not be intercepted in route to Argentina? |
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A mining contract for 5 years is too long unless there is some kind of way to gradually increase GH/s during that time.
As difficulty doubles about every two months or so, and will likely continue to do so for the next few years (at least until we run 14nm chips) in just 12 months 1GH/s would make about 1.5% of what it made before.
Any mining contract for over 6 months is not a very good idea unless there are some ways to re-invest GH/s. Also the mining host should have either 'free' electricity or continually update their mining hardware to keep on top in efficiency.
Running a cloud mining company could be very profitable but you'll have to stay on top of the industry.
You make no sense at all. PBMining is not an exchange like CEX.io. You pay for your product (hashrate) and you earn BTC. That's it. You're money isn't tied up in an investment since you don't get it back at the end of 5 years. It's the same as buying a miner except you don't have to pay for electricity and you have nothing to sell when you're done with the product. No big loss though. Secondhand ASICs sell for pennies on the dollar these days. I have 70 USB Block Erupter, an ASICMiner Blade rig and 3 BFL Singles I'll give to you for free if you want to come pick them up, lol. And since it's similar to buying a miner, the vast majority of your profits will come at the beginning. After 6 months, yes, you will be earning very little because of difficulty adjustments. I spent 9.4 BTC with PBMining less than 3 months ago. I'm now at 6.4 earned BTC. It may take me another 3 or 4 months before I have a positive ROI. But it's no worse an investment as my hardware ASIC purchases. I think what he is saying is that the increases in difficulty will make it very difficult to accurately calculate your potential ROI. You can see that difficulty is increasing by ~20% every two weeks now but a low of things can happen that could increase/decrease this rate 6 months or a year from now, let alone 5 years from now. |
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Let's say, prior to a divorce, one spouse withdraws a large chunk of cash, goes to Vegas, and at the conclusion of the trip, declares that he lost all the cash gambling. In reality, he socks the cash away somewhere he can retrieve it discreetly after the divorce.
How do divorce lawyers deal with this scenario? It's pretty obvious, so I'm sure there's a known or standard way to handle it. How would they distinguish it from a guy who genuinely loses the cash, saying, "I would rather gamble away all that money than let her have a dime of it!"
The bitcoin variant would be to quietly buy some btc for cash in Vegas, while playing a little to provide some cover for the purported losses. I'm sure this is all kinds of illegal and would result in serious penalties if caught, but then, how would the lawyers go about investigating this and proving it to the court's satisfaction?
The opposing attorney could and likely would look for additional proof above his "word" Casinos easily track their patrons and how much they are up/down |
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If you have obsolete equipment, I am happy to look at taking it off your hands as I re-invested my BTC into a solar panel system. Sure, it only run ~14 hours per day via an UPS but it is better than letting those older ASICs / USBs just collect dust. PM me if you interested...
Are you able to sell your excess solar energy back to the electric grid? If so then you would still be essentially be "paying" for the electricity that these miners use in the form of less funds from the utility company |
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I'm looking to invest £5k into something that will outperform inflation. I already own BTC, and want to diversify into something low-risk, low-return - anything above 5%/year would be OK.
Buy forest. It has predictable returns overall (in decades) above inflation (even if not managed intensively) and is really low risk if bought at reasonable prices. However you have to have knowledge in forest management. It also offers recreational benefits. What a great suggestion! I'd definitely take a piece of forest over stocks/bonds/paper promises any day as well. The great thing about a piece of land like a forest is that not only will you have a retreat if/when shit hits the fan, you can also sell firewood! Each tree is like a stack of bills  In order to sell your trees you will need to spend some amount of money in order to cut down, transport and sell the trees. Not sure where would I buy a tree investment and how much fixed cost land and property tax transport when the trees mature would it cost over the amount returned as an investment That said it seems like a nice idea since it helps provide clean air while maybe making a bit of a return. I think that there are some tree farms in Canada. |
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Do you think U.S. Marshall auction 29,656.51306529 bitcoins will affect price?
Will the winner of that auction instantly sell off 29,656.51306529 bitcoins for a quick profit?
If so, will it affect the Bitcoin's price?
Winner of the auction wont sell it quickly, though price is suppressed now because of this only. I wish this auction is over fast. As per my analysis, price may go down to 500 USD at most. It depends on the intentions of the buyer(s). If they are bidding so they can attempt arbitrage then they will likely sell quickly, if they indent to invest in bitcoin for some other purpose then they will not. |
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Hello,
In my opinion government cannot touch your BTC wallet, because it is still not stated clearly in the laws. It needs time for the judgment system to describe BTC adn all crypto and to put a hand on it. Your friend should buy a ticket and go live on some islands with that much coins in his pocket BTW
BR
Gondel
The government has no way to force you to give someone your bitcoin, this is part of the Bitcoin protocol. There are a number of things the government could do to give up your bitcoin in the event of a Judgment. There's always the $5 wrench ... LOL There are ways that can be more more painful that the government can use then a wrench...... |
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I find it interesting that there were several threads on this forum shortly before this story came out that were asking if someone under 18 could trade bitcoin on an exchange |
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I jumped into mining with a purchase of a $15 AntMiner USB chip. I'm not and never had any belief I'd make much of a profit on it, it was mostly for learning. But I'm wondering if it's even possible to make any profit.
In the short term no in the long term probably also a no but you never know what price Bitcoin will appreciate to If you can get free electricity say at school or at a university then yes it is profitable  But you can use a mining calculator such as this one https://tradeblock.com/mining/In other words, no it is not profitable to mine bitcoin. If you think that the price will increase then you should simply buy bitcoin on an exchange |
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The first is that you can count on electricity costs then if you could ask your calculator here https://www.alloscomp.com/bitcoin/calculatorcloudmining you can try to monitor cex, io or pbmining. and if you ask for a cloud or mining house, it depends on your decision, you should be ready with all the You still pay for electricity with cex, it is just not as obvious that you do Exactly. Even though PBmining says they don't charge additional fees for electricity, it is still built into the cost of your contract. |
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in all possible solutions.. even moving funds during being held hostage, multisig, safety deposit boxes etc.
the guy is still in your house and knows you still have control of your funds. he knows you would rather give him the funds .. eventually .. rather then send them to an address with no known privkey (losing control yourself knowing you will never get them back ever).
so he will hammer you until he gets the multisig, privkey, safety deposit key, privkey where funds were diverted to.
i guess the cartoon did no explain that enough
This is exactly true. If you are in physical danger there is no reason to try to protect you money/bitcoin. Money can be replaced, your life cannot. If you can sufficiently trade the money then you can use the police to catch the people who would steal from you. I still think this makes it much more clear! |
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Why would they need to move it to bitcoin? Really it's too late for that. But the point would be if it was in Bitcoin he could not be seized. The private investors will be attempting to seize assets all over the world including even things like spacelaunch contracts. Even if they had it in bitcoin, private investors could seize whatever assets Argentina were to buy with their bitcoin when they go to spend it |
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Preorders are the cancer of Bitcoin mining. You may or may not get your hardware in time to get at least a little bit of your BTC back. So many companies have run and delivered nothing that it's just not worth it. Buy hardware that is shipping. The ROI on preorders can look tempting, but you'll regret it when you end up with nothing to show for your coins
More eyactly , pre-orders are cancer of your eventual profits, but yeah i definetly agree with you on this one. You are betting two things that way, both your calculations that the miners are actualy ROI, and the time they should be in your hands. Keeping in mind that diff. is increasing at astonihing rate, per-orders should be in anycase avoided. In November of last year it would like as if BFL's 600 GH/s card would ROI in just a few months, but now 7 months later they haven't even started shipping (I think) and will likely now never ROI BFL's junk would never ROI in BTC and sadly the Monarch (if ever delivered) may never ROI in even fiat. Considering they starting taking pre-orders last year around this time I think they'll tell pre-order customers they can upgrade to the new "RandomButterflyName" which will be delivered in November 2014 (aka soon or Two Weeks). BFL has been involved in some really shady dealings. |
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"The D" Hotel/Casino here in Las Vegas has a Bitcoin ATM, and from what I heard was that you can use Bitcoins to pay for your room, buy food, buy souvenirs, pretty much everything except gamble with. They way they market it is that instead of carrying $100,000 cash onto a plane to Las Vegas, just load it up on the ATM and withdraw what you need without needing to exchange at a bank.
From what I heard, the company plans on putting in 8 more all over vegas and in some more Hotels. Capitalism is great.
If you had that much to spend at Vegas you would likely just take out a line of credit with the casino |
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They quietly make big money, just like pokerstars who takes a rake off of each pot that is played in poker.
Want to elaborate a little on this? Mostly these sites are badly managed, we have seen it with Gox and more will unfortunately follow... I think it was just MtGox that was especially badly managed. Other exchanges have not had anywhere near the levels of problems that gox had |
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The US cannot afford to go to war with China. China is the number one investor of US treasuries. If China stops buying, yield will rise. It would be more costly for the US to borrow for financing government.
I don't think China would stop buying US treasuries and/or sell off their treasury holdings, they would stand to lose to much if they did. |
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if this is scam, why it is up here since over 2 weeks and moderators didnt clean it? :/
Bitcoin talk doesn't remove probably scams (caveat emptor, or buyer beware).. But I think arbitrage has had its day.. Back when btc was between 2 and 12 dollars, one could make a lot of money arbitraging. Thats how I made most of of my coin. Now, its much more difficult, still can be done, but there is a lot more risk involved. True arbitrage is not possible with bitcoin as you cannot move your bitcoin instantly without your counter-party risking a double spend attack It is possible if you already have the bitcoins you need to buy/sell in place (ex: on another exchange). Anyway, every arbitrage "investment" has proven to be a scam until now so invest at your own risk (loosing your investment 100% most likely). If you already held bitcoin then you would need to risk the existing bitcoin that you held. True arbitrage is suppose to be a risk-free investment. That is how those scams are so successful as people do not believe they are risking any funds. |
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All that wealthy individual needs to do is open up Pool, set 0% fee, add something like merged mining, and wait for hash to come to him. ...
Isn't that effectively the GHash situation? Small number of nodes feeding large number of miners. Controls hash but not network. Or were you thinking a p2pool setup? Anyway I wanted to investigate owning network and what effect that could have. He was referring to ghash |
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I read an article that had a headline of "Bitcoin sponsors football game"
It was not until towards the bottom of the article was it revealed that it was actually bitpay that was sponsoring the game
I remember thinking "are the miners giving up part of their block rewards to pay for this" while reading the article
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