I will also name bitcoin as an accomplice in a criminal activity.
That's makes as much sense as naming the dollar as an accomplice. I had a guy contact me through localbitcoins today looking for 2 btc and sounding really unsure about the whole thing. He ended up divulging that he had received this exact same email and I talked with him about it for a bit. He still wanted to buy the 2 bitcoins and have my help sending them as it would be easier than rehashing the whole AM thing again.
Did you know that you are required to file a suspicious activity report on him? That's F'ed up. One of the charges against the CoinMX guys is that they didn't file a SAR on a cryptolocker victim that they sold bitcoins to. https://bitcoinmagazine.com/21334/fbi-arrests-coin-mx-founders-money-laundering-violations/ |
|
|
|
|
You are selling the account for $1 to pay a debt? Do you owe some kid at school lunch money?
|
|
|
|
|
Articles about Reddit posts are stupid.
|
|
|
|
Your need to add one of these options to your poll: - Get a job
- None of the above
|
|
|
|
|
People have forgotten why central banks were created. When the U.S. was on the gold standard, the Federal Reserve was created to strengthen the banking system by supporting banks with liquidity problems, which were symptoms of fractional reserve banking. When fractional reserve banking comes to Bitcoin, there will be a need for a Bitcoin central bank.
|
|
|
|
You math is off. With PC graphics card you won't even earn $0.20/month before electricity costs
Is my math off, or is yours? When I calculated it, I found that he wouldn't even make $0.20/century Perhaps I've mis-estimated the number of hashes per second that are likely? Is there any reason to believe that the R9 270X graphics card can handle more than 490 kilohash per second? Perhaps you meant 490 megahash per second. Even a CPU does 20 MH/s. I assume you got the number off the LTC mining hardware page, but SHA-256 mining is typically 1000 times faster than scrypt mining. 490 MH/s currently mines about 0.00014 BTC per month, currently worth about $0.03. |
|
|
|
You will get barely anything with that. Best case maybe $0.20/day before electricity costs.
You math is off. With PC graphics card you won't even earn $0.20/ month before electricity costs, which will cost something like $25/month. |
|
|
|
The weight of your vote depends on the number of bitcoins you control. The minority of people that control most of the bitcoins will dominate. The wallets that have the most bitcoins belong to big miners, exchanges, Coinbase, and a few others. If you have less than a bitcoin in your wallet, your vote isn't worth much. |
|
|
|
The problem with creating bitcoin banks is that people will increasingly ask what the point of bitcoin is supposed to be.
That's more a problem with people than with banks. |
|
|
|
|
The mining feature is not very useful, so I'm curious why they included it. My guess is that the mining feature is simply a trojan horse designed to get more people to look at their platform.
So, that means that their product will be an embedded computer running a proprietary transaction system that may or may not use off-chain bitcoins. I expect the mining feature to be dropped.
|
|
|
|
|
With regard to mining, you are better off buying two Antminer U3s for $40 instead a 21 device for $400.
|
|
|
|
Hey, I'm a bit of a newbie but I have a few antminers (the small usb ones). Is there anyway I could hook one up to assist in the cpu power of syncing my wallet?
The slow parts of syncing are downloading of the blocks and updating the database. A miner can't help you there. |
|
|
|
Hey all,
I want to buy some BTC have done before threw localbitcoin but I have read i can be a dodgy site? I just want to buy my coin
safely my preferred method would be a debit card (Pre Paid) Can anyone recommend some safe sites to buy from?
Also a wallet... Last time I used localbitcoin I just transferred my coin from he wallet on LBC straight to its destination.
What I want is to buy as much coin as I can at a time and put it in a safe wallet of my own then when I have enough
coins built up or what I need use that wallet to send to destination. So can anyone help with a safe wallet? What I need
do and such.
Cheers all, hope someone can help.
I don't live in Ireland so I don't have all the information you need. Localbitcoins is very safe for the buyer as long as you follow the trader's instructions and you don't go outside of the LBC escrow system. It is difficult to buy bitcoins with credit card, pre-paid debit card, gift card, and paypal because they are all prone to fraud. Your best options are face-to-face cash, cash bank deposit, or some irreversible payment systems that are not available in the U.S. As for a wallet, avoid ones that you access through a website. Mycelium and Airbitz are good phone wallets. Electrum is a good computer wallet. I don't quite understand how you want to use your bitcoins, but after you buy the bitcoins on Localbitcoins, you can easily send them to your Mycelium/Airbitz/Electrum wallet, and then you can spend them whenever you want. |
|
|
|
|
It is odd that the author talks at length about Litecoin's recent halving, but barely mentions Bitcoin's first halving.
|
|
|
|
What do you think of giving the Bitcoin Community at large a voice instead of relying solely on the miners?
In the end, it doesn't matter how the vote goes because nobody is bound by the results of the vote. |
|
|
|
Just curious about this: What's to stop the person who put the private key on the piece of paper from keeping a copy of the private key?
You have to trust the person that makes the coin. That is why DIY coins have little resale value. |
|
|
|
Here are the benefits that 21 claim: A new approach to micropayments.
Micropayments means sending small amounts of money. Mining a small amount of money does not make it any easier to send a small amount of money. Silicon-as-a-service.
Parallel or not, it makes little economic sense for a device to mine bitcoins in addition to its normal function. Decentralized device authentication.
Sending bitcoins from an address is an inefficient and outmoded method of authentication. It is cheaper and more effective to sign something other than a bitcoin transaction. Either way, it doesn't require mining. Machine Twitter.
Mining is not necessary to monitor the block chain. Devices that can pay for associated services.
Devices that can pay your channel partners.
There are simpler and more cost effective methods for devices to pay for services and subscriptions, and they don't involve mining. Furthermore, the device will eventually not be able to mine enough bitcoins to pay for the service. Then what happens? Bitcoin-subsidized devices for the developing world.
It is hard to see how the device can effectively subsidize its own cost plus the cost of a cell phone at the rate of a couple dollars per month. |
|
|
|
The mining chip in all of this still doesn't make any sense, though  Neither the rasberry Pi hardware... why not simply release a marketplace which allows decentralized micropayments that eventually hit the blockchain? It only makes sense if we assume that the mining chip allows people to get bitcoin without the hassle of buying it and their objective is to grow and strengthen the bitcoin ecosystem by decentralizing mining and increasing node count. Remember alot of these investors are bitcoin bagholders too and are probably concerned about the centralization of mining and node drop off... That's the point. The device as it stand is a pilot, eventually the mining chips will be embedded right into your computer's motherboard. it is ridiculous to spend 1.77 BTC for a device that will generate less than 0.03 BTC per month (less electricity cost). It is far more effective and easier and faster and more convenient to buy $400 worth of BTC directly. As for running a full node, there are much cheaper alternatives: http://raspnode.com/As for a mining chip on my motherboard -- no thanks. |
|
|
|
|
Anyone can add any amount to a coin, so in my opinion the fact that it is over-funded is not worth much, even if the manufacturer did it. If anything, over-funding a coin might lower its value because it may no longer be considered pristine.
|
|
|
|
|
Show Posts
