It is a free market in which price is controlled by supply/demand. Someone who want to buy even 1 million BTC will drive price to the sky.
I was going to suggest that such a buyer could buy small amounts at a time. But then I realized that in order to accumulate 1M BTC in a reasonable amount of time, he/she would probably end up increasing the daily volume of multiple exchanges by 5-10% or more. That would certainly add a lot of buoyancy to the market. |
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We keep pulling away from MEOW:
4: IXC 16058
5: SPN 14932
6: MEOW 14896
7: GRC 13842
8: ENRG 13000
9: ADN 12981
We're up 36 over MEOW, and we're 1126 from IXC, which may be hard to catch. But let's see how we do over the next day or so. If we keep our current place, SPN should be listed on August 11th. SpartanCoin (or DarkTrix, if you've been in contact with him recently), do you think there will be other tools/features out for SPN by then?
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I prefer Firefox because its performance is good (unlike IE), just about all web content is displayed correctly (unlike Safari), and it's basically the same across multiple OSs, which is important to me because I use Windows, OSX, and Linux on a regular basis. It does seem like Firefox has gotten a little bloated and slower in the last year or two, but I still find it to be the most useful for my needs.
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Without taking a lot of time to ponder "other," I'd have to go with marriage. Money and everything it can buy are just tools--means to an end, which is good healthy relationships, such as (hopefully) marriage and close family and friends. Without good relationships, life isn't worth much.
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Took me maybe 10 or 15 seconds. My first thought was that it was a trick question since nothing looked wrong with the numbers. Then I bothered to examine the text.
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That article is worthless sensationalism. The basic logic there is that a guy got leukemia and he owns a miner, therefore the miner must have caused his leukemia. By that logic, I got a cold and I own a miner, so my miner must have given me a cold. There's no substance whatsoever there. How many rig owners haven't gotten leukemia? Aside from that, ASICs certainly do give off some electromagnetic (EM) radiation because any electric current flow generates an EM field. But it's low-power, localized, and non-ionizing. Not to mention that most if not all of it is likely blocked by the metal casing the chips are likely in. The radiation from your cell phone is much more dangerous than anything emitted by an ASIC. |
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I don't usually trust anyone, same goes with exchanges but I do keep some altcoins on them, why? Because I can't download all of their wallets and install them on my pc, so its a safety precaution, and I keep them their until I can get some profits outta them and then I sell and move on to next one or turn to btc and withdraw.
Totally agree on the altcoin wallets. I don't trust a lot of the developers or the software. Lots of BTC wallet draining malware out there. It's too bad, because the best way to get in on an alt pump is to buy before it hits an exchange.  It would require extra effort, but if you keep your altcoin wallets completely separate from your BTC wallet, you should be ok. Ideally, it would be best to use two different computers, or at least two separate OS installations on the same machine. But at the very least, if you keep your BTC in cold storage and make sure you don't have malware when you access it, you should be pretty safe. |
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Here's a status update:
5: MEOW 14869 (increased by 9)
6: SPN 14836 (increased by 33)
7: GRC 13810 (increased by 22)
We gained ground on MEOW and pulled away from GRC a little more. So great job everyone! Keep it up!
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May someone explain their rationale for investing in Antminer S3? Maybe something I missed?
All that calculators are for them who will withdraw their just-mined coins and axchange it to "usual money". You missed that BTC exchange ratio should and will inevitably grow. That's all.  Why do people keep saying this? What does the exchange ratio have to do with it? If you purchase a device for .75BTC it either mines more than .75BTC or it mines less than .75BTC. If it ends up mining less than .75BTC you lost money, regardless of the relative exchange rates. This should be intuitively obvious. If you just buy with BTC, then yes. But if you buy with converted fiat, it would be a lot easier to make a profit. For example, if the USD exchange rate is 600 right now, you could buy a 0.75 BTC miner for $450. If BTC goes up to $1200 each, then you only need to mine 0.375 BTC to break even in fiat terms (ignoring potential power supply and power costs). I don't know how easier to explain it to you. .75BTC is .75BTC, it makes no difference whether you bought it on an exchange, "converted" it as you say, mined it, stole it, scammed it from someone in the lending section, whatever. If you purchase this miner for .75BTC and then it mines .375BTC, you just lost .375BTC. Meanwhile, the person who didn't purchase this miner still has .75BTC. BTC increasing to $1200 has nothing to do with it you lost 0.375BTC. If you absolutely insist on thinking in terms of dollars, than the person who didn't purchase the miner now has $900. You should have $900 too but because you bought the miner instead of keeping the .75BTC, you now only have $450. You didn't break even. You mined $450 worth of bitcoin but spent $900 worth of bitcoin to get it. I'm not going to keep beating a dead horse. If you can't understand the simple, intuitively obvious concept that 0.75BTC is always more than 0.375BTC no matter what the fiat exchange rate is, than I don't really know what else to say on the matter. Did you see the part where I said, "However, it is certainly true that you could skip the whole mining process and simply buy 0.75 BTC instead. But that's less fun."? (Although I will grant you that I added this to my original comment a minute or two after I posted the first part, so you may not have seen it before you started writing your comment.) |
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Voting changes on mintpal come 1st September,
Important: Please be aware that we are phasing out the voting system. We have removed the option to make payment votes and will stop taking voting winners from 1st September onwards. The system will continue as normal until then.
Unless we can pull something out of the bag I don't think we'll get listed on Mintpal. Because after the 1st September they will probably add only the latest and greatest coins with good volume to make them money.
We need Spartancoin to grab some attention!!!
Yeah I read that too from Mintpal. It will be very difficult now for Spartan and most other coins to get onto Mintpal. Whether it's a bad thing I'm not sure. Bittrex is a much more preferred exchange in my opinion. Mintpal tends to ruin many decent coins. We will have to see but going back to getting on Mintpal, it's not likely in the time frame given. Hold fellow Spartans.............!  Actually, we have a good shot at getting on Mintpal as long as we stay consistent with voting. There are 7 Mondays between now and September 1st (8 if you include the 1st), and the top coin is added every Monday, which means one of the coins above us will be removed each week. We're in 6th place, and only 60 votes from 5th. So as long as we can outvote all the coins below us, we'll make it. It's probably also to our advantage that you can't buy votes anymore, so no one with a new coin will be able to edge us out by blowing 10 BTC. So this is by no means a defeat--this is an opportunity. Current status: 5: MEOW 14860 6: SPN 14803 7: GRC 13788 So we're up 1015 votes over our closest threat. |
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May someone explain their rationale for investing in Antminer S3? Maybe something I missed?
All that calculators are for them who will withdraw their just-mined coins and axchange it to "usual money". You missed that BTC exchange ratio should and will inevitably grow. That's all. Why do people keep saying this? What does the exchange ratio have to do with it? If you purchase a device for .75BTC it either mines more than .75BTC or it mines less than .75BTC. If it ends up mining less than .75BTC you lost money, regardless of the relative exchange rates. This should be intuitively obvious. If you just buy with BTC, then yes. But if you buy with converted fiat, it would be a lot easier to make a profit. For example, if the USD exchange rate is 600 right now, you could buy a 0.75 BTC miner for $450. If BTC goes up to $1200 each, then you only need to mine 0.375 BTC to break even in fiat terms (ignoring potential power supply and power costs). However, it is certainly true that you could skip the whole mining process and simply buy 0.75 BTC instead. But that's less fun.  |
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The monetary base is still increasing at an alarming rate, whether its parked with the fed, in my savings account or stuffed in someones mattress, the fact remains the same: It's increasing rapidly. But it doesn't really matter because QE can't contribute to inflation, and it has been proved at least two times (Japan and US). What Fed does is replacing treasury securities that banks hold with reserves. Reserves on their own can't flow into the economy, they are only used in transactions between commercial banks, Fed and the government. The only positive thing QE might've done is unloading toxic MBS's from the banking system and thus calming the markets. How do you figure that QE doesn't contribute to inflation? We have had inflation over the last few years, and look at how much the markets have gone up since 2009. Because QE can't in its nature, and I explained why. Inflation is out there for sure, but it doesn't mean it's because of QE. I did a little research, and I see what you mean about how bank reserves held at the Fed have increased by almost as much money as the QE programs have created. I still think that QE has caused inflation, but in the sense that the deflation we experienced in 2009 probably would have continued if it weren't for QE and other actions taken by the Fed and government. Putting my belief about inflation having negated deflation aside, I'm also not sure that QE can't contribute to inflation, especially in the future. So far, banks have had reason to park a lot of their money at the Fed. But depending on Fed policy, they may start to withdraw their excess reserves and lend them out. That would cause inflation. In any case, thanks for making light of where a lot of the QE money has gone. That's not something I had considered. |
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Somebody has mentioned that ASICs emit dangerous levels of radiation. Can anybody confirm or deny this?
I hope he was talking about non-ionizing radiation.
EDIT:
Have they started adding WiFi to the chips?
I would certainly hope not considering ASICs are everywhere--computer processors, GPU cards, cell phones...most electronic devices have at least one. ASICs are just integrated circuit chips. |
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Like so many things in life, moderation is important. The internet has done many amazing things for society. In many ways, we would be worse off without it. But if you spend too much time on it, it can be detrimental. Social websites are great for staying connected with people and sometimes meeting new ones, but you really need to spend time with people face-to-face to have real relationships. You can do amazingly fast research with the internet, but you have to be careful to find reputable sources, and you need to know your own limits. You need to know when it's time to unplug and go take a walk outside.
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The network hash rate has been quite high for the last day or so--in excess of 100 MHash/sec most of the times I've looked. Is that just because of the 33M SPN that were bought the other day, or is it just one of those random times when a couple big hashers have joined the mix (I see one on chickenstrips)?
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It seems to me that one of the whales who holds lots of ltc needs to do some PR on it in order to boost the market. Sponsoring a sports team might be a good idea.
Thing is....all those whales who held LTC already dumped it/cashed out. All that's left is LTC bagholders, and you guys are gonna realize that only when it's too late.. That should result in better distribution. Because the coins that were once in the hands of a few are now in the hands of many. A lot of BTC whales sold their coins back in 2011/2012/2013 too. That may be, but better distribution won't revive it. You need people that have a large stake--people with money, influence, and a lot to lose if the coin fails. Your average Joe with 10 LTC can't get the community to rally. You need someone big. |
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What can Litecoin do that Darkcoin can't?
Trick question they both can't do anything BTC can't. I see confirmation time as one of the big drawbacks of BTC. I don't want to wait 30-ish minutes for 3 confirmations. That's too long when other forms of payment can be processed in seconds. |
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The monetary base is still increasing at an alarming rate, whether its parked with the fed, in my savings account or stuffed in someones mattress, the fact remains the same: It's increasing rapidly. But it doesn't really matter because QE can't contribute to inflation, and it has been proved at least two times (Japan and US). What Fed does is replacing treasury securities that banks hold with reserves. Reserves on their own can't flow into the economy, they are only used in transactions between commercial banks, Fed and the government. The only positive thing QE might've done is unloading toxic MBS's from the banking system and thus calming the markets. How do you figure that QE doesn't contribute to inflation? We have had inflation over the last few years, and look at how much the markets have gone up since 2009. |
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Prices going down were the only good thing in the Great D, do you think prices going up would have been better for people having very limited ressources?
People have less money in depression times so it is good that prices are lower not higher
Sure it's beneficial for consumers for prices to be lower when they go to the store and buy things, but the lower prices don't make up for the lack of consumption due to the hard economic times. Aggregate consumption falls, even though prices are lower. China will fair well after the USD collapsed and the dust has settled
I guess it depends on how far in the future you look. They would almost certainly recover better and faster than the US, but a USD collapse would greatly hurt their economy. It would destroy a lot of US demand for their exports, and because of our close economic ties with Europe, the European financial system would also probably collapse, which would destroy their demand for Chinese exports as well. It's impossible to predict how bad it could get, but I could see a USD collapse leading to a global depression. It is reasonable to make those assumptions; the collapse of the USD will have huge negative consequences for many but China will be able consume what they produce, the shifting will not be overnight but it will happen eventually; many other asian countries are on the right track and some European countries are strong as well It is stupid to say the world economy cannot live without the USD, the world economy will be better off without the price to pay to have the USD as a world reserve currency and world payment currency The world absolutely can survive without the Dollar as the reserve currency. China and many other countries would eventually be fine without it. The US would eventually recover, too (although probably not to where we are today). The problem is that the transition would be very very painful. |
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Greed is good, its what drives us for capitalism. Its just when the banks fail - they shouldnt get bailed out which is socialism.
A true capitalism system, would be its over when do fail. So if you earned loads of bitcoin, eventually you start creating more business`s as the same.
Think about it, who gives you a check to pay the bills.
Greed needs temperance, even in capitalism. Otherwise, people try to take advantage of each other to get more money, and you end up with a society in which no one cares about anyone else. |
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