Price IS IRRELEVANT. All that matters is price/difficulty.
Nitpicking, but those two statements contradict each other. Price is relevant if price/difficulty is relevant. Either way, I know what you mean, and I agree to an extent. Except, price/difficulty isn't a perfect relationship. There will be more people mining, relative to the price/difficulty ratio, at a lower price, than there will be at a higher price. That is because everyone only has a certain amount of efficiency. There are only so many miners with free electricity, and beyond that, there are only so many miners with electricity at $0.4/kwh, etc, etc. So, difficulty will be lower at lower prices, but will be reduced at a slower rate than price is reduced. If priced is reduced by a factor of 10, difficulty may only be reduced by a factor of 8. I do agree that it is rather silly to pick a specific price that your own mining operations will cease to continue, simply because that would imply knowing what the difficulty will be at that price, and that is impossible to determine (unless someone has invented a fancy time machine that I don't know about). |
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I just checked the instawallet that has the 1 BTC in it. It's still there... Just like any other Bitcoin service, instawallet doesn't necessarily keep the coins in the same address. The downside is, everyone knows which instawallet contains the 1 BTC now. If I was smart, I would have whited-out the funding address.  |
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When the last crash happened I was mining at full capacity and buying up all the quitters cheap hardware , when the difficulty was way down and value at $2 I was mining like han solo  I was able to double my mining operation with mining profits I too have faith I don't even read speculator threads at all 9 out of 10 of them are manipulating for their own agenda But wouldn't have you been better off just buying Bitcoins at that point? If you're mining at a loss (costs $300 of electricity for $250 worth of Bitcoins), then you should have just spent that electric money on Bitcoins instead. Unless of course, that electricity is helping to heat your house, or something, as it does in my case. Anyway, I'll stop mining when the weather turns. Since I have resistive coil heating in my home, it's the same efficiency as just using the miners to heat, except I get paid when I use the miners. But when I have to start using A/C to keep it cool, I'll stop mining, unless there is a better price/difficulty ratio than there is right now. It just costs too much with A/C included in the bill, I end up losing money on it. |
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I sell BTC using PayPal (nightmare) any 'profit' that was made is slowly going back due to Credit-card charge-back fraud. I know for a fact PP will randomly select you out if the person you had dealings with is in a dispute with someone else ( doesn't have to be you ). They are trying to check out the other person by checking your dealings with them, they don't tell you this of course and say that its a random check. Then, of course, when you don't have proof you 'mailed' it, they take your funds and return them. I don't see MB being any different. You would have been better off not mentioning the "B" word. Just happened to me. Guy paid for 2 different auctions over 3 days, 3 weeks later PP disputes just 1 of our transactions, because one of his customers complained about him 2 weeks after the fact. So they randomly select people that had dealings with him and finds me 'guilty' of not "mailing it" and gave his money back. Even tho our transaction was NEVER in dispute, I lost. Sounds like/feels like, theft to me. I contacted my customer and he gladly resent it. (he mustva been screwed by PP at one time too). I tried once months ago to get my money back in another situation. After 4 days on the phone with 'support' and 20 pages of Docs proving my story that we were both getting screwed by the same guy, I had it, and give up.... And thats the way they like it. Look at the Seller Protection Policy - if you didn't ship it, you shit outta luck. Im sure MB is no different Video Proof?? Doesn't it amaze you that you can show "real proof" and nobody cares. (20 pages of Docs, IP tracking, used old BC addresses, timestamps, IP stamping, blockchain tracking, email header info matching the IP info on your own damned servers, I had this SOB by the short and curlies, he re-used the BC address he used months ago in a legitimate transaction, and the rest of the info just snowballed) but do you have a copy of the box you shipped with a stamp on it?<-- thats all they wanted. Show them a "video" of proof and they are spellbound and drooling (v-v-v-video) - any fool with a comp and MicroMovieMaker can fake it. How many people do you know like having their BTC's Shipped in the mail  Sellers beware. I'm sure every credit card type company has the same type policy's. I'd just ship them via a piece of paper. Tell them that you are selling a private key with the funds, and it will be mailed. Prove of shipment for paypal disputes, so you should be covered. |
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My reaction is: How would you make any money to stay in business?
With a USD-based chain (RealPay), the USD collected can be further invested to generate income for both the company and the people using the service. With a copper-based chain, you couldn't invest the copper into other investments, so you'd have zero income from the company without introducing some heavy fees for transferring in/out.
Not to mention, it would take a ton of time to verify that each coin is actually pre-1982. Do you really want to sort through tens of thousands of pennies and try to read the dates on them? I heard someone has created a machine to automatically sort them, but I think it was a one-off, and I'm not sure how it works.
And finally, the shipping costs would be quite large. Probably the best way to ship would be via those priority mail flat rate boxes, but even then, the customer is paying at least $5 to ship the coins to you. So $5 + fees, and you probably won't get many people to actually use the service.
Just my opinions on it. I've thought a lot about tying a Bitcoin-like money to various things, and my conclusion is that it can only be successfully tied to USD. Anything else would just require too much in the ways of fees and other costs to make it viable to more than a small group of people.
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Interesting project! When are stats updated?
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Does this mean you would start sending out 1099's based on incomes made from each account?  |
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Bittit owner here. Just confirming that he is telling the truth. There has been 1 BTC in one of the wallets since the first day. He never moved it to another wallet and its still there right now. I'm checking the wallet every now and then and I will remove the pics when its gone. Or if that's not fine with SgtSpike I can put another description that it has been found. For reference these are the three wallets: http://bittit.info/index.php?uploader=2dde17cf241a49db3339ff3c97e1c69bBTW Sgt next time you might want to put your email in there. I stumbled across the post by accident. ;-) Oh and there are some problems with blockexplorer today so bittit might be slow or inoperable... Thanks for legitimizing it! Didn't think about you being able to see the originals, hah. Yeah, no email. I hate giving it out, worried about spam and such. I shouldn't be, but I am. Maybe I will next time... |
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What kind of personal information do you require for a person to take out a line of credit?
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You need to post up an explanation of what everything is/does. I have no idea what I am looking at when I load up the game or start clicking things.
Correct me where I am wrong:
H = the unit you are controlling
Black = ??
Circle = some sort of safe zone
Blue square = crystal mine
Triangles = crystal stockpile
So right now, is the whole point just to gather crystals? What will future goals of the game be? How will you win/lose?
I wrote some initial non-comprehensive draft about the game and what you're seeing. There will be more information as I update it. http://kibabase.com/articles/the-city-game-designhttp://kibabase.com/articles/gameplay-description-of-the-cityCool, thanks! |
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Want to know the biggest surprise in the Bitcoin community in 2012 ? This will soon be announced as SolidCoin 3.0 ! Even RS coin is better than this insane plan ( $10 billion, really ) ! Still no client ? Fail. Delays after delays ? Yes. Pairing the old banking system ( PayPal ) with cryptocoin ( Bitcoin ) theory = will not work, ever IMHO. They stand for totally different things. - $10 billion doesn't matter. If that cap is never reached, it makes no difference to the operation or purpose of the project. - Delays are inevitable when things are changed. They've made several major changes (for the better) since starting this thread. I'd rather see a product released later with better features due to community feedback than a project that is forgoes benefits for the sake of meeting deadlines. - Why wouldn't pairing Bitcoin technology with the USD work? It doesn't matter what either stands for in order to use it. |
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You need to post up an explanation of what everything is/does. I have no idea what I am looking at when I load up the game or start clicking things.
Correct me where I am wrong:
H = the unit you are controlling
Black = ??
Circle = some sort of safe zone
Blue square = crystal mine
Triangles = crystal stockpile
So right now, is the whole point just to gather crystals? What will future goals of the game be? How will you win/lose?
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Fair enough, I didn't realize this was a beta either.
Your college degree didn't teach you how to read? From http://www.gpumax.com.. "Be one of the first to experience the easiest way to buy and sell shares. Enter your email below to get notified when there are beta invites available." The bolding is my own. Hey now, where'd you get college degree from? I didn't even have a look at the site myself yet; I was just reading through the thread. And I didn't read the whole OP because it was long, and boring. I skimmed it. Now that I look more closely, I see that beta was included near the bottom. My mistake for not reading that far, but that's no reason for you to make sarcastic remarks regarding my education. |
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No - it's hard to REMEMBER to go on a web site and make a small change once every 2 or so weeks. I have a busy life. My miners have gone completely unadjusted for months, which is perfect for me. I don't want downtime, because I might not realize that it happened until a week later. I look for reliability, stability, and automation wherever possible.
Kids still in school, or bachelors without children, probably have a heck of a lot more free time to fiddle around with stuff like that than I do. I want something I can set and forget.
then don't use gpumax. Plain and simple. Your miners will continue to function just like they did before GPUMax. If, however, you want to make a little more than you normally would, you'll have to invest a little more effort. Why is that so bad? You want more for nothing? Now you're starting to sound like the kids today. Why is it wrong to want things to be easier/more efficient? Should we go back to plowing fields by hand? I might still give GPUMax a try - I am just disappointed in the lack of that particular option. It wouldn't be difficult for them to add, so I hope they consider it. We are Beta and focused on much bigger things than luxury items. Fair enough, I didn't realize this was a beta either. |
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Are you trying to cover a leveraged long position or something?
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No - it's hard to REMEMBER to go on a web site and make a small change once every 2 or so weeks. I have a busy life. My miners have gone completely unadjusted for months, which is perfect for me. I don't want downtime, because I might not realize that it happened until a week later. I look for reliability, stability, and automation wherever possible.
Kids still in school, or bachelors without children, probably have a heck of a lot more free time to fiddle around with stuff like that than I do. I want something I can set and forget.
then don't use gpumax. Plain and simple. Your miners will continue to function just like they did before GPUMax. If, however, you want to make a little more than you normally would, you'll have to invest a little more effort. Why is that so bad? You want more for nothing? Now you're starting to sound like the kids today. Why is it wrong to want things to be easier/more efficient? Should we go back to plowing fields by hand? I might still give GPUMax a try - I am just disappointed in the lack of that particular option. It wouldn't be difficult for them to add, so I hope they consider it. |
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PPS payed by gpumax is much higher than by deepbit, for exapmple
From the original post: For Miners - Free
Manage your miner(s) on our website
Manage and track pools, shares, speeds and public work income. (See Below)
Lease your miner(s) to others earning additional income by setting a PPS price on your account that we pay directly to you when we use your miner(s) for public work sold through the website.
You will never make less than mining on your own.
Paid for public work with Bitcoins. Unless the OP is outdated, it seems as though each miner can decide what PPS fee they want to set. Obviously, they won't sell their hashes very often if they set it too high, but that's why I am wondering whether the PPS rate fluctuates with difficulty at all. I would hate to set it to a certain amount, then have difficulty go down and I make less on the PPS route than I would have without dabbling in PPS. He means it's currently much higher than expected PPS if you do the math for how much a share is worth on average. Sure, if difficulty changes significantly, the going rate may change, but this is more of a market where you choose what you want and buyers either pay your fee, or your shares get passed through to your "private" pool. *sigh* What is "it"? The current rate at which buyers are willing to pay? Or something else? Because as far as I can tell, miners set their own PPS fee. I don't know what you mean when you say "it" is currently much higher than expected PPS. I don't know what "it" means, or at what price, or if people are buying/not buying at that price. Also, that is kind of my point. If the rate that buyers are willing to buy at is 10% above calculated PPS, then I want my fee to automatically change whenever difficulty changes so I can keep my fee at 10% above calculated PPS. Can GPUMax do this, or not? I thought this would be a simple question... You seem to imply that this cannot be done, but I still don't know for sure. If not, the service is rather useless to me, since I don't want to have to worry about forgetting to reset my PPS fee every time the difficulty changes. So, if not, then I would heavily suggest that GPUMax DOES implement a PPS fee setting for miners based on percentage above/below calculated PPS. It's seriously that hard to go on a web site and make a small change once every 2 or so weeks? Wow...just wow. No - it's hard to REMEMBER to go on a web site and make a small change once every 2 or so weeks. I have a busy life. My miners have gone completely unadjusted for months, which is perfect for me. I don't want downtime, because I might not realize that it happened until a week later. I look for reliability, stability, and automation wherever possible. Kids still in school, or bachelors without children, probably have a heck of a lot more free time to fiddle around with stuff like that than I do. I want something I can set and forget. |
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Same here. He's been off for a couple hours. I'm sure he has a lot of things to do.
I am currious about who is eating the $100K loss. As the updated announcement states, the trade hill guys are raising money for bitcoin.com. I seems hard to believe that investors taking a $100K bath would be likely to invest again. Furthermore, it isn't likely that trade hill incurred a $100K loss over night. Shouldn't trade hill have seen this coming? Or been able to adjust before such a staggering loss? Investors probably have millions, tens of millions, or hundreds of millions. Anyone willing to risk money on Tradehill probably makes dozens of other equally risky investments. Which means they expect losses. Make a good case for why round 2 will go better, and you could probably bring many of them back on board again. I've seen it happen in a company I worked for. Aside from that, Tradehill has stated that they have been working for free for the past several months in order to help make up for the loss. |
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PPS payed by gpumax is much higher than by deepbit, for exapmple
From the original post: For Miners - Free
Manage your miner(s) on our website
Manage and track pools, shares, speeds and public work income. (See Below)
Lease your miner(s) to others earning additional income by setting a PPS price on your account that we pay directly to you when we use your miner(s) for public work sold through the website.
You will never make less than mining on your own.
Paid for public work with Bitcoins. Unless the OP is outdated, it seems as though each miner can decide what PPS fee they want to set. Obviously, they won't sell their hashes very often if they set it too high, but that's why I am wondering whether the PPS rate fluctuates with difficulty at all. I would hate to set it to a certain amount, then have difficulty go down and I make less on the PPS route than I would have without dabbling in PPS. He means it's currently much higher than expected PPS if you do the math for how much a share is worth on average. Sure, if difficulty changes significantly, the going rate may change, but this is more of a market where you choose what you want and buyers either pay your fee, or your shares get passed through to your "private" pool. *sigh* What is "it"? The current rate at which buyers are willing to pay? Or something else? Because as far as I can tell, miners set their own PPS fee. I don't know what you mean when you say "it" is currently much higher than expected PPS. I don't know what "it" means, or at what price, or if people are buying/not buying at that price. Also, that is kind of my point. If the rate that buyers are willing to buy at is 10% above calculated PPS, then I want my fee to automatically change whenever difficulty changes so I can keep my fee at 10% above calculated PPS. Can GPUMax do this, or not? I thought this would be a simple question... You seem to imply that this cannot be done, but I still don't know for sure. If not, the service is rather useless to me, since I don't want to have to worry about forgetting to reset my PPS fee every time the difficulty changes. So, if not, then I would heavily suggest that GPUMax DOES implement a PPS fee setting for miners based on percentage above/below calculated PPS. |
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You don't have an encrypted wallet that needs a password? Thats the same effort as a paypal payment. Lets not even mention start up effort to get the client up, working, and secure. Are you considering the effort the vendor has to go through to make use of the money sent? The exchanges are requiring more private info than paypal does, for less money moved. The exchanges are at best, as safe as paypal regarding account freezes. I'm not trying to be a negative Nelly, admittedly I'm a bit upset I wasted all of my time working for free last week because of this price dip. But as a person that's using btc for what it's for (selling services and goods for btc) I have tons of issues with btc that aren't there with traditional payment processors. Mainly revolving around two things-
I can lose a significant amount of my income overnight.
High fees (6% for me to get cash in hand as fast as paypal who charges 2.9% + $0.30)
OR
slow turnaround, where the volatility can screw me, plus money in limbo for up to a month. May lose more than the 6% above like I did this week.
If those two things are fixed btc would be 100x better for me as payment for my goods and services. Right now it's such a huge risk.
and if anyone is wondering why I didn't sell my btc at the time of sale reducing my exposure, well the site I use to cash out said they'd be back up Feb. 12th 0300 UTC but didn't actually start services until a day after that. Just so happened that night btc fell about a dollar. The other place I use to cashout doesn't lock in rates so by the time they got to my order the price had dropped the same aforementioned $1.
No, wallet isn't encrypted. I probably should, but... I don't. Anyway, I was just saying from the customer side of things, Bitcoin is extremely easy to use. I already had the client set up and running, yes, but I don't have to log in to anything, or browse to multiple pages and get redirected here and there. It was a single payment page. I click payment sent, it waits for payment from me, then as soon as it sees a transaction has been created, it gives me a receipt, and I'm on my way. Easy as pie. From the merchant standpoint, there is a ton to work through, I completely agree with you there. Lots more polishing to do. Exchange rates will stabilize with more usage, but it's going to take a LOT more usage for that to happen. Like, on-par-with-the-economy-of-a-small-country levels of usage. Lower fees and more instant-money services will come with more usage, too. If I was going to set myself up as a merchant with the purpose of avoiding as much volatility as possible, I would have all transactions run through bit-pay, and just set it to the USD 2.99% fees option. I believe that instantly gives me the USD equivalent of any BTC payment made to my bit-pay account. And it's only half the 6% fee you are talking about. Regardless, there is still plenty of room for more competition and improvement in the merchant services area. Well, and in the client area too. It will come with time. Things are always being improved upon here, everyone trying to 1-up each other with better features and stability in their services and features. |
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