I don't think it's that unreasonable to calculate using Deepbit's PPS either.
You don't think Deepbit got so big because they were just another Proportional pool with instant payout, did you?

BTCguild has 0% fees (donation only) and they have insta-payout up to 2x a day.

The *only* reason you have to go to Deepbit is if you want PPS payout. I'm guessing a lot of their customers go with it.

For those curious, I use Deepbit, Slush, *and* BTCguild, myself.

Matthew

I agree -- Mt. Gox is a mountain, Trade Hill is a hill.

A lot of people have money stuck up on the mountain, so even if they prefer Trade Hill now, they have to check it to the party tonight even if just for a little bit.

For all we know, people will get their money & BTC out en masse and then head over to Trade Hill to do their buying/selling.

I guess it depends on where the most money can be made -- it's all about the money for traders (what else would it be all about?)

Matthew

Thank you for the clarification.

What exactly is Slashdot?

Here's my point in started this thread:

Apparently I'm very, very isolated. Apparently big things could be going on and I wouldn't have the first clue. What else am I missing and clueless about? Up till now, I only kept tabs on ONE message board, and that forum only covers religion/philosophy. So (surprise, surprise) I didn't hear about Bitcoin there.

I'm just worried that I'm out of touch to a large degree -- how could something as major as this be sitting out there, out of my sight for so long? I spend literally 10 hours on the 'Net each day; sometimes more.

I used to keep tabs on CNN.com, CNNmoney.com, I'm subscribed to TechRepublic (which has all sorts of articles about technology), and I visit a few other places.

Apparently I need to frequent Slashdot?

Matthew

What the heck are you talking about?

There is no one with an ounce of credibility (read: more than a common troll) who claims the Bitcoin Block Chain has been messed with/compromised/exploited/hacked.

Bitcoin itself is, and has always been safe and intact. That much is not open for debate.

You can suggest that Mt. Gox is running away with all our money -- that much at least has a shred of evidence.

But a would-be Bitcoin cracker would have to have more than 11 Thash/s of computing power to screw with the Block Chain and counterfeit BTCs. He would be better off mining BTC with everyone else!

Although difficulty increases DO lop off 1/3 of my income (as a miner) each time they happen, I must say there IS a rosy side to Difficulty Increases. They make Bitcoin that much more hacker-proof.

Matthew

Please elaborate.

How much were you making yesterday, and how much have you made in the past 10 hours or so?

Luck plays into it ("variance") but you will tend to get less -- +/- 2.0 BTC a day, instead of += 3.5 BTC/day like yesterday.

It's going to be quite a party tonight!   Bitcoin party!

The trading should be quite a roller-coaster ride.

Down to $5
Up to $25
Then down to $2.50,
Then back up to $32.
The night will probably end at $17.50 

I'm surprised I haven't seen more Japanese language on this forum.
I think the first nihongo I've read was a few posts above me there -- I haven't even seen any written in roumaji, for crying out loud.

If you were really going to buy so many BTC, why would you tell us so we could compete with you and drive up the price?

That would be like me bidding on a Beanie Baby on eBay, then posting about it in a Beany Baby Collectors' forum.
Obviously I would either lose the auction, or pay a LOT more for that beanie baby.

Maybe your true intention is to SELL 10K worth?

Not to be cynical, but we always have to question things and people online.

Except that, to me, you're the little kid. You're probably younger than me.

Wow -- a Gigahash bringing in 0.26 BTC a day...

I sure hope people stop buying 5830's for $160 at that point, considering it takes almost FOUR of them to make a Gigahash.

A little bird told me that BTC are going for almost $17 apiece now!

You have to go to an exchange that isn't Mt. Gox, of course...

Not the mountain, but the hill...

For those who found out about Bitcoin in 2010, how did you find out about it?

Reddit? Digg? Word of mouth? (If so, what kind of groups do you hang out with, and what part of the country do you live in?)

Here's what I'm getting at:

Pesonally, I've been into number-crunching "distributed computing" projects for years. I dabbled in several projects using BOINC (ClimatePrediction.net, etc.) and didn't get a single red cent for doing so. I used to look at the main homepage for distributed computing -- distributedcomputing.info -- to see if "maybe today" they added some good projects -- maybe even ones that could make a few cents each week!

Here's the real irony: Since I switched to Linux, which was last summer -- I installed BOINC and joined one of the projects available to participate in (only some would work on Linux). I ran it for a few days, then realized I was spending electricity for nothing, and quit.

But my point is: I was looking for a distributed computing project like Bitcoins -- it would have been a dream for me! But it wasn't even mentioned on distributedcomputing.info. If it wasn't mentioned there, where was it mentioned?

Even if BTC were only $0.25 each, even if you couldn't buy anything with them -- I would have "been there" and really got into it. I'm not just saying this with 20/20 hindsight...as I said, I spend a lot MORE time getting nothing but a score with projects like this (distributed computing).

So my question is -- HOW did everyone else who discovered it before, say, May 2011, find out about it?  I'm lucky I kept an eye on Cryptogon.com -- he mentioned it on his blog, and that's when I found out about it.

Matthew

Don't you mean

http://www.tradehill.com/?r=TH-R11524

There's nothing contradictory or hypocritical about it --

I personally have some money tied up in Mt. Gox, plus a bunch of other people do as well. You can't just write off Mt. Gox like they don't matter, even if you hate them.

The fact of the matter is: around 65-80% of the money in the Bitcoin ecosystem (money people have put in, plus bitcoins in daily circulation) is tied up at Mt. Gox. That money can't bring the price of Bitcoins up, or down. It's stuck in limbo until Mt. Gox re-opens.

And there's nothing wrong with Tradehill. They have a lot more volume now than they did a week ago. They could use a better "market view" -- certainly a way to view open orders -- but they strike me as more professional than Mt. Gox.

I really can't wait until Mt. Gox re-opens.

Yeah, there might be a selloff, but if there's any recovery in the price of BTC it can't happen until this Mt. Gox incident gets put behind us.

Only after Mt. Gox is operational for a while (without any more hacks or shutdowns) can Bitcoin's reputation recover. It's in the sewer right now.

You like to blame the news reporter, just because the world is a dangerous place.

Go ahead and put your head back in the sand -- I won't be competing for that particular hole in the ground. While you're at it, feel free to buy some overpriced video cards from eBay or the Selling forum here. "Bitcoin is going TO DA MOON! If anyone says anything negative, I plug my ears and say 'Lalalalalalalalala...'"

I'm the voice of reason. No wonder so many people here don't like me  

You have to have the right equation.

I got in this morning. I had to send my approx. balance in USD/BTC.

Apparently if you have "money that folds" in your account, you'll get auto-rejected if you fail to provide your approx. balance as part of your Proof.

Mining just got a LOT less profitable.

1 GH/s used to bring in 1.146 BTC per day. Now it brings 0.656 BTC/day.

BTC are currently trading for $15.50.

So a guy with a 1GH/s rig went from making $17.76/day to making $10.16/day.

Both figures are gross profit, not net profit (after electricity taken out). I used Deepbit's estimator for these income figures; for proportional pools, multiply figures by 1.07. For proportional pools with 0% fee, multiply by 1.10.

Daily income for 5830's is now 0.167 BTC, or $2.60.