It's like you decided to host a marathon and asked others to join you in the footrace from San Francisco to New York. By the way, when the gun goes off, you're going to start in New Jersey. There is the possibility that you'll restart the race at a later time along with everyone else through some means (a faucet or sending coins or something), but honestly, that possibility is the only thing that will keep everyone else in the race. The more remote that possibility, the fewer people are going to continue running, or mining, as the case is here.
If some kind of competitive-motive model really was at work in them cryptothingie markets, then ixcoin should have already died, which it obviously did not do. That leads me to suspect that cryptocoinmarkets are dominated by profit-motivated miners, not "sports-spirit ethics" motivated miners I predict the failure of Ixcoin in the near future. Miners are motivated by profit. The problem is, you've saturated the market with so many coins (whether or not they're used any time soon) that if their use is to be expected, the thousands of potential CPU miners hashing away for 25TBX per month will perpetually be mining at a loss. |
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In any event, destroy the fund. It will be the death of your chain.
With all due respect, I am curious to hear some kind of reasoned economic argument behind such a statement. To me, the idea seems highly peculiar, especially since none of the LOLPREMINE chains (ixcoin being most notorious, with a blatant authorial sellof and an attempt to "bribe" Gavin, of all people) show any signs of actually dying in any meaningful way, which sort of serves as an empirical falsification to the "premining kills chains" hypothesis. Again, all you've done is create the kind of result that would occur in Bitcoin if only you could GPU mine. And you did it not by being smarter or faster or more resourceful than everyone else (like everyone else just couldn't figure out GPU mining), you did it by denying the opportunity for everyone to do for real what you did fictitiously (proof of work). It's like you decided to host a marathon and asked others to join you in the footrace from San Francisco to New York. By the way, when the gun goes off, you're going to start in New Jersey. There is the possibility that you'll restart the race at a later time along with everyone else through some means (a faucet or sending coins or something), but honestly, that possibility is the only thing that will keep everyone else in the race. The more remote that possibility, the fewer people are going to continue running, or mining, as the case is here. |
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I have mined a block. How long until I can spend it?
Coinbase maturity is 150 blocks, but blocks are 1/2 of bitcoin's value (5 mins), so about 12 hours (currently will be less because blocks are still a bit faster than target value....Some serious CPU-crunchin' going on there) Thanks. I didn't know that if one double clicks the transaction, all the info is displayed in a popup window. On that note, the window is incorrect because it says that generated coins need to wait 120 blocks, rather than the correct 150. It displays the blocks remaining, this means that there have been 30 blocks generated since you generated said block. No, I mean where it says "Generated coins must wait 120 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, it will change to "not accepted" and not be spendable. This may occasionally happen if another node generates a block within a few seconds of yours." While I'm posting, what to do with the premined coins? Destroy them, save for what you would have mined in the past couple days with everyone else. The idea that you're creating a GPU resistant chain with millions premined to yourself tells everyone involved only one thing; you want the blockchain to reflect the sort of result that would occur in a world where only you are allowed to GPU mine. Figure out what you would have mined since your announcement, add 10,000 for your efforts, and destroy the rest in a public transaction. Perhaps you can send them to a bad address or something. Without destroying the vast bulk of those coins, you're sabotaging your own project. Also, is there a way to explore the blockchain? You claim to have sent hundreds of coins to some people. How can we verify this? Ahhh, missed that bit of text, will fix Blockchain explorer will be added soon. Man, it's three days old  and methinks that given the limited number of those people pm-ing them is trivial. I didn't send then "fund" coins tho, only the coins generated as I was building the first 150-something blocks in order to introduce a few blockchain lockins early on ( I hardly needed those few thousand mined TBX given the existence of fund ;-/ ) I'm sure there will be a blockchain explorer if this takes off at all. I was only curious if there were one now to use. In any event, destroy the fund. It will be the death of your chain. |
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I have mined a block. How long until I can spend it?
Coinbase maturity is 150 blocks, but blocks are 1/2 of bitcoin's value (5 mins), so about 12 hours (currently will be less because blocks are still a bit faster than target value....Some serious CPU-crunchin' going on there) Thanks. I didn't know that if one double clicks the transaction, all the info is displayed in a popup window. On that note, the window is incorrect because it says that generated coins need to wait 120 blocks, rather than the correct 150. It displays the blocks remaining, this means that there have been 30 blocks generated since you generated said block. No, I mean where it says "Generated coins must wait 120 blocks before they can be spent. When you generated this block, it was broadcast to the network to be added to the block chain. If it fails to get into the chain, it will change to "not accepted" and not be spendable. This may occasionally happen if another node generates a block within a few seconds of yours." While I'm posting, what to do with the premined coins? Destroy them, save for what you would have mined in the past couple days with everyone else. The idea that you're creating a GPU resistant chain with millions premined to yourself tells everyone involved only one thing; you want the blockchain to reflect the sort of result that would occur in a world where only you are allowed to GPU mine. Figure out what you would have mined since your announcement, add 10,000 for your efforts, and destroy the rest in a public transaction. Perhaps you can send them to a bad address or something. Without destroying the vast bulk of those coins, you're sabotaging your own project. Also, is there a way to explore the blockchain? You claim to have sent hundreds of coins to some people. How can we verify this? |
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I have mined a block. How long until I can spend it?
Coinbase maturity is 150 blocks, but blocks are 1/2 of bitcoin's value (5 mins), so about 12 hours (currently will be less because blocks are still a bit faster than target value....Some serious CPU-crunchin' going on there) Thanks. I didn't know that if one double clicks the transaction, all the info is displayed in a popup window. On that note, the window is incorrect because it says that generated coins need to wait 120 blocks, rather than the correct 150. |
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I have mined a block. How long until I can spend it?
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But all those other non virtual chains are guaranteed through non virtual proof of work. If a virtual chain takes off and it isn't backed by anything, what is stopping you from just printing a bunch for yourself?
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The charts and trendlines work equally well for bitcoins as for other financial markets. No issue with the trading volume.
Then why are you unable to predict the price? |
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Pool mining it is then. Thanks.
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I've been mining with Slush for about 4 months now and have not found even a single block. I understand that luck is part of the game, and there is no guarantee of finding a block ever, but at some point, one has to be on the upper end of the probability scale for finding a block, and it becomes worth it to solo mine until that block is found, and then get back on a pool.
I have 1.3GH now, and on average, for the past 4 months I've been getting between 1 and .5 BTC per day.
How can I know if it's time to solo mine?
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That is exactly why it will never go back down to $1. If everyone knows that everyone is buying at that point, then we can safely say that a range of $2-3 is the lowest it can possibly go. The only exception is the death of Bitcoin and that can only happen if some major technical flaw is found in Bitcoin itself or governments start banning the trade of Bitcoin to Fiat currencies. Only a mega event of that sort can make the price go below the $2-3 range.
The question is then, at what price will everyone buy at? If you're saying 2-3, I think you need to give a reason why. And did you think the same thing from 7-6? Every will buy when it's the end of the bitcoin world. I think more like 1 cent, which is why I have a huge order at .01001. That is when there will be blood in the streets. |
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 Seriously. If ever there was a time to look at bitcoin fundamentals, it is now. We all know the merits of bitcoin, which is why I'm a long term bull. But in the short term, the reality is, all the press is bad. Few people understand how it works. Few people have even heard of it. This will change. But for right now, Bitcoins are just not all that useful for the average person. This will change. And while we're at it, this drop is great for Bitcoin. It allows new investors to hop in and motivates the people holding 100,000 coins to sell off a few. While I would in no way advocate a forced "spreading of the wealth", it's difficult to trust a currency where a large percentage might be held on a CD by its inventor or a super early adopter. These are fundamental growing pains. And in 10 years, when BTC is well understood and widely used, we'll look back and chuckle. At some point, there will be blood in the streets (we're not anywhere close to that yet), panic, and fear. The forum will be about "the end of Bitcoin". And that's when I'm a buyer again. |
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Just waving *hi* to technomage from $5.5 $5.2 But c'mon. It will only take someone buying 10 coins to bring the price up to 5.99. LOL. I think I've finally learned how to read the bottom part of the bitcoinity.org site. Instead of saying, "It will take this many coins to make the price X," you should be saying, "X many people are betting the price will eventually get here." So while it is intuitive to see a shallow line on the buy side and say that is where the price is going because it will take so little to make the price go up, I'm now saying the "buy wall" is a huge indicator that the price will go down to at least that point. |
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The volume is amazing and it's happening right now. I'm so glad I sold when I did. Now I have lots of room to identify the bottom. I can see us under $5.00 in a matter of minutes as people wake up in the US and dump. We already went from 6.00 to 5.25 in a matter of seconds. It's the VOLUME. http://www.youtube.com/watch?v=vA_UfZnqBco |
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Cool. Thanks. Yours is the best chart I can find. Really, they should have purchased yours instead of MtGoxLive.
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 Is there any way we can fix this error? It makes the chart very difficult to read. Using Chrome. |
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Less new people are buying btc. Miners are always selling some. People holding btc are noticing the slow decline and want to cut their losses or buy back for a better price later.
+1 the last part is exactly my case & to add to the list are the thieves who've now finished washing the stolen Btc & have arranged safe enough ways to cash out in bulk & who also see the post Bitcon high dive I agree. There are 2 things. causing this decline. 1 - Fear - People see 3 days of fast drop and they say, I'll get out now and either stay out or double my BTC collection. 2 - Bulk Sales from Single Sellers - The volume has been decent this time around. My guess is, there are several people holding thousands of BTC. They are looking for fast cash. Every time a wall is put up, a bulk sale blasts through it. They're going to feed on each other and the vast majority of us will wind up with more BTC because of it. Who knows where it will stop? |
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Using CCC 11.5 and I got a huge increase. My 5850 went from 290 to 315. My 5870 went from 360 to 405. My 6870 went from 285 to 310. Don't know if it will be everyone's experience or if this will be stable for me, but this was a great upgrade.
use the gui with phoenix and the math tweak , your 5850s should get 360+ at 920 clock Mine only clock to 775. Anything more is too unstable to really deal with and they're XFX so I can't overvolt. I like to set it and forget it. |
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Kind of a bump, but someone might find this useful.
I was able to temporarily get it going again by starting the computer in VGA mode. Apparently, sometimes the card will attempt to send a signal to the monitor that the monitor doesn't recognize, resulting in a black screen (not off, just a bright black image) and starting in VGA will fix that.
Despite being the only card attached to the motherboard and a 1000W PSU, it still began to artifact the moment it was under a load. About a minute later, it gave me the green line screen and then the black line screen. I was unable to revive it and now it is in the mail to XFX for an RMA.
In all honesty, this card has been giving me similar problems from day 1, so I can't say I'm surprised. Hopefully the replacement will work out.
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Can you confirm my payout for block 143057 is 0.00016936? Username is michaelmclees. I left the block for a few minutes but I was in with about 900MH for over 3 hours if I recall correctly.
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