Maybe you should talk to Usagi of the BMF who has been interviewing various mining companies

But if you fund it through GLBSE you might get your equipment cost back right away..

This from their website:

So while the Ellet is self contained, the card isn't. Provided the answer to my question is positive - that this is indeed possible with the Ellet.

Cool, at least there's two of us Are you mining?
Let me know if you're selling or buying bitcoins.

You answer the question yourself.


With number of miners increasing, difficulty increases, and with the reward dropping, it's very likely that some miners will be paying more for costs than the mining rewards.

That wasn't the main point though of my question though, more that there's little besides miners and pirate paying dividends. So if miners produce less and pirate collapses, what does one invest in.

Got the thing built and tested with help from you guys on IRC today. Looks good!

Uhm, if a thief/virus/whatever gets access to your laptop and copies your wallet.dat, he can wait five years before actually stealing your money. And you have no idea you were compromised, or when. A canary is only good if it warns you in good time before a disaster.

Cool initiative!
Some comments on the comments:
I have spoken with people at f-secure that say phones viruses, worms and exploits are plentiful. For smartphones, doubly so. Much easier to compromise a wallet on a phone.
And why worry about the keys on this device if it is physically stolen? Will you even carry more btc on it than the device itself costs? And if you have the wallet backed up you have a chance to empty it before the thieves do.

Question: How would the process be, of me transferring btc to a friend or stranger who also carry such a device?
This is something a bitcoincard wouldn't be able to do, but which is necessary to emulate cash.

It'd be nice to be able to fetch the history csv with the private API.
And dividends with the public API.

Cool site!
Any plans to add EUR/USD trade?

Bitcoinica and others have closed down operations with people having significant bitcoin deposits on their sites.
Would a possible solution to this be to have said sites create a wallet for each customer, and share private keys with them? Thus, if the site is down for technical or other reasons, I can still withdraw my bitcoins at any time.
I don't know the technical details enough to know whether it's possible to avoid double spending in such a case?

I mean necessary because for many (outside the US) it is the best or only way to get money onto an exchange so you can buy bitcoin, and evil because of the fees the LR merchants are charging. Fees that do not help the bitcoin economy in any way.

I never hear of Liberty Reserve before I tried to actually get hold of some bitcoins. Is it really a necessary evil?

Amen, brother

If pirate's business doesn't last beyond december, and miners turn unprofitable with the reward drop, will there be any worthwhile investments left on GLBSE?

Hi,

just want to see if there's anyone on the forums located in or having bonds to Malaysia.
I'm considering setting up an exchange, but want to start small trading directly with ppl.
Any Malaysians wanting to send money home from abroad using bitcoins f.ex. , are welcome to contact me.

How do you do a stock split on glbse?

Can't you sell the bitcoins to the Vietnamese directly?
If it's anything like where I live, it's next to impossible to get hold of bitcoins unless one has a US bankaccount.
In most countries the problem is getting hold of bitcoins in the first place, so you should be able to sell them quite profitably.

I like the daily dividends move. It's easier to gain confidence in a bond when you see regular dividend payouts, and that takes a while with weekly payouts.

Any plans for expanding the operation?