The worldwide economy is worse than the numbers suggest and people need fiat to pay the bills.
If they use fiat, they could never payback the bills Each fiat dollar is backed by a equal amount of debt, when they get 100 dollar to pay the bill, they created a 100 dollar's debt to be paid somewhere else in the society, plus interest. So someone else might get a 103 dollar bill to pay, society as a whole become more and more debt laiden Ah no you see - that is unfortunately the beauty of fiat, consider this story. A man stops for a beer in a small town and leaves his wallet behind. The bartender, Fred, collects the wallet and finds $20 in it, after about half an hour with no sign of the man coming back he decides to keep the money. Knowing that he owes Mildred who makes the cakes he sells in the bar $20 he pops round to her shop and pays back the $20 he owes her. She owes $20 to Albert the repairman who repaired her ovens the other week , so she hands him $20 when she sees him. Now Albert owes a local hooker $20 for the quick one they had behind Freds bar the other night so he duely pays her back, and the hooker goes back to Freds bar and pays her bartab with the $20. Half an hour after Fred gets the $20 back, the wallets owner walks back into the bar and asks if he left his wallet behind. Fred checks behind the bar and quickly puts the $20 back in it, smiles and hands over the wallet. Net Net, no one lost out and $80 of debt got repaid. Nice! But there is a net. 1 cake, 1 fixed oven, 1 quicky, & beer. Funny how that capitalism works. |
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Naturally BFL Josh would say that. But Knc is not an American company, therefore less regulation and more/easier innovation.
Umm...if you think there is less regulation in the EU than the States, you are gravely misinformed! Switzerland is technically not part of the EU. And innovation in Swiss. is top notch. Don't want to hijack this thread. Maybe a new thread? |
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Naturally BFL Josh would say that. But Knc is not an American company, therefore less regulation and more/easier innovation.
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You're not going to get hashes.
Thankfully governments are good for one thing, and that's honoring contracts. |
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Today is July 1st . My cloud hashing contract starts today. Details to follow. I am supposed to be paid bi weekly. My hash rate is supposed to be 6gh stating today. It is supposed to jump to 7.5gh on sept 1st. On the good side if they start count from today 6gh should make about .14 coins today.
I will post in 2 weeks as I am to be paid biweekly. So far the website does not offer much info other then the fact I have a July 1st contract.
Im in the same boat as you. 6Gh as well. We should compare results. |
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So, if one were to get 1 Saturn & 1 Jupiter, can they use one power supply for both or need two separate?
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Im all for, buying up gold & precious metals. Solid investment. But I sure hope you all have a means to secure your armory. Whether it is a vault, hidden vault and/or weaponry. I am not a doomsday guy by any means but just a thought as I was reading through....
hidden and locked up. Not even in the same country some if it |
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Consumer demand has been pretty constant, but that is a very tiny fraction of the demand. Almost the entire market is central banks.
Right, people are not selling their physical gold. All the selling is in the futures, derivative, and ETF markets etc. All of the "dumb" money is getting out of gold. More smart buyers are buying more physical (me.)  Soon, smart countries will be buying more physical gold, i.e. China. Once the price gets low enough, it will slingshot back to the old highs and beyond. So the demand is still the same, if not higher, within the physical market. Gold is going to go up so fast when the s*it storm comes. Those who sold in the recent correction will probably stay out and not rebuy, that's how fast it's going to move. imho |
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so you have to use command line interface for these things you can't use the gui miner interface? I'm just looking for simplicity. I screw things up at every turn. I'd prefer to install a virtual OS on top of Windows if its easier. NVM i found a better break down here http://rdmsnippets.com/tag/install-block-erupter-on-windows-7/To be a BTC miner means you gotta learn how to be one. Search and search the boards, the internet, until you get it. You will. We're happy to help, but that's how I learned. |
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Dose every one have to fight with these things? I thought all the bugs were worked out and that most people could just plug um in? Dose the latest Cg-miner detect them?
use cgminer 3.1.1 with this code: C:\Users\XYZ\Desktop\cgminer-3.1.1-windows\cgminer-nogpu.exe -o http://rr.btcmp.com:8332 -u XXXXX -p YYYYY --icarus-options 115200:1:1 --icarus-timing 3.0=100 -S \\.\COM3 -S \\.\COM4 -S \\.\COM5 -S \\.\COM6 -S \\.\COM7 -S \\.\COM8 Of course change the things you need to change. Does that help? |
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New links added to initial post. An article by Andrew Schiff and the "bitcoin" word reared its little head on Tues.
Thanks for the updates. Schiff is big on precious metals, speaking of which the price has been manipulated sharply lower as of late. Hells yeah! The laws of supply/demand, aka common sense, say gold is going to skyrocket. When gold gets so low that mining companies can't produce it at a profit, supply diminishes. But demand is the same or higher, do naturally the price will go up. It's a no brainer. Good stuff! Price could go lower too. Maybe 1100. Don't be ridiculous. Saying gold demand is always the same or higher is like saying the demand for bitcoin is always the same or higher while the price was going down from $30 to $2. Almost the entire market cap of gold and bitcoin is speculative and monetary value. Also, the price of gold is capped because there is $150t worth of it that is recoverable on the ocean floor using technology that is not cost effective at current price levels. I would highly recommend quitting listening to the Schiff if you are getting these ideas from him. Yeah, and there's infinite gold in space too, that should drive the price to the floor. The transformers are going to come with quantum technology and produce fake bitcoins that are valid. Ocean mining is the future, yes, and that's bullish for gold. It will require more capital and drive the price up. You can't compare gold with bitcoin when talking about current supply/demand economics. Bitcoin is too new, too volatile. Gold is predictable...in the long run. |
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New group buy price for the USB block erupters is about 1 btc (not advertising for them, just sayin).
So, at the new price, assuming starting current difficulty, you'll make 1 btc in 5-6 months, depending on difficulty increases all the way to 40 million ish...
After that, my crystal ball gets cloudy, grasshopper.
I would estimate 1-2 years return on investment. And yes, I started a group buy just tonight in my signature. Difficulty will be crazy with all the Avalons, BFL, kncminer, TerraHash, AsicMiner, AMC, klondikes, bitfury, etc. etc. coming online by years end. Also, what VC money is being done in private to mine that the average guy knows nothing about. Then again, maybe bitcoin prices in ALL currencies will begin to rise. A sh*t storm is coming and it's going to be like Cypress all over the world. imho |
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But isn't it all made in China anyway. It's more likely than someone in the USA saying they're making cheap Asics. And how convenient they don't respond to emails unless you buy something and can put the serial number in the subject line. HAHA! |
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New links added to initial post. An article by Andrew Schiff and the "bitcoin" word reared its little head on Tues.
Thanks for the updates. Schiff is big on precious metals, speaking of which the price has been manipulated sharply lower as of late. Hells yeah! The laws of supply/demand, aka common sense, say gold is going to skyrocket. When gold gets so low that mining companies can't produce it at a profit, supply diminishes. But demand is the same or higher, do naturally the price will go up. It's a no brainer. Good stuff! Price could go lower too. Maybe 1100. |
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we need a deoartment of sustainable Agriculture..thanks Yes, but the dept we have today is not for the agriculture, but rather much against it. Cronyism and entitlement a muck. where do you live...i'm entitled to my opinion...system fail now WE 'ave to fix it..thanks team U.S. I'm agreeing with you my friend. It's one big FAIL indeed. Where are you? i'm all over the place mostly Sebastopol...wanna sign up to save the trees ...thanks In on the east coast. L8R |
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we need a deoartment of sustainable Agriculture..thanks Yes, but the dept we have today is not for the agriculture, but rather much against it. Cronyism and entitlement a muck. where do you live...i'm entitled to my opinion...system fail now WE 'ave to fix it..thanks team U.S. I'm agreeing with you my friend. It's one big FAIL indeed. Where are you? |
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New links added to initial post. An article by Andrew Schiff and the "bitcoin" word reared its little head on Tues.
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we need a deoartment of sustainable Agriculture..thanks Yes, but the dept we have today is not for the agriculture, but rather much against it. Cronyism and entitlement a muck. |
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Shouldn't he take BTC as payment? Who's selling them? Can you say? Yes, I do take BTC as payment. Finish checkout and you will see. There is no other option other then Bitcoin. Oh, my bad. Too cool!!! LOL! Order sent. Thanks! |
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