People voluntarily take part in ponzi schemes all the time.
People voluntarily gave Bernard Madoff billions of dollars.

Just because it's voluntary doesn't mean they don't understand they're getting ripped off.
TM used to advertise with the slogan "triple your mining income", that probably fooled a lot of miners new to bitcoin.

Nothing of value is lost by educating people about the risks of joining something they will lose money to.
1% of your earned bitcoins is still a loss.
It doesn't support the site or it's hosting fees, it supports a random parasite who had enough coverage for his link for it to be noticed by anyone.

The fee doesn't go into growing the site's advertising budget or running costs.
It goes to someone spamming forums with banners and links as long as it yields a few cents.

This is nothing against you or people recruiting their friends & random people online. More power to you; You're smarter than the guy who joins under you; You deserve every penny and I commend you for that.
I'm just telling the bag holders how things are.


1.   1% tip of a 0.5mhash CPU miner is nominal at best, and costs (for all practical purposes) zero if you run it off a site like Amazon cloud

2.   No, as I said, you're smart. So is everyone gaining free money off this (negligible amounts, but still).
I'm just educating the people who end up paying for it. Most wont be reading this topic anyway so your profits are safe

The 5870 doesn't get even near 440mh/s at stock speeds.

You would have to overclock it *a lot* putting the power consumption to roughly 250-300 watts.

A 5830 doesn't get 310-320 at stock either. That's the absolute maximum with the voltage and core frequency sky high (past 1ghz).

Not really. I insist to pay the bill usually.

Your pool expects all the diners to tip the guy who introduced them to the restaurant, because it's "fun" and "we're supporting a smaller restaurant".
Except that guy doesn't represent the restaurant. You are supporting him personally; Not the owners of the place.

It only makes sense for the guy getting free money for nothing.
The other people are paying to do something that ordinarily doesn't cost anything. Everyone loses except the referrer.

The fact that people join in an unknown person's downline and he gets money from their work without doing anything.
The person joining benefits nothing while the referrer earns from his work.

Same thing with MLM schemes; You recruit people to sell useless crap, while selling none of it yourself; They work for you.
Except with triplemining, they *pay* to work for you.

As in the example above, for every 100 bitcoins you'd mine at a 0% pool, you are recieving just 99 BTC at this pool.

For every 50 BTC found, you get 49.50.
The 0.50-1 BTC goes to the person who referred you. You are giving him money for mining.

Sure, in this case people don't deposit money. It's definitely no ponzi scheme because nobody is 'out' of anything (except that 1%) if new members aren't recruited.
But the ones already in the system lose every day.

"Who cares because triple mining is fun, 1% is nothing" seems like a lame excuse for taking someone's money. If the person you referred wants to make back that 1%, he either needs to recruit even more members to the pool so he gets something, or hope to win a "jackpot".

BTW: You stole that banner from Panda, lol. You even leeched off his photobucket account. But I guess parasites will find a shortcut for everything

Wrong, since the system doesn't care about your mining power proportional to those in your ref. chain, you can just leave an old CPU miner in the pool

or even use a free cloud computing site & assign a processor with 1% affinity to the pool, so that it still gets a few khash/s and submits shares every few hours + you never get banned off the cloud because your usage is so low

It's not a scam or traditional pyramid scheme because the site owner doesn't get tier 1 referral profits from anyone.
Only the minipool host gets part of the fee. So the owner has good intentions in that sense.

It just doesn't make sense financially if you have 10+ghash capacity.
Unless you just bring in referrals & never mine yourself, in which case it's just free income at zero risk.

The 'sucker' left holding the bag is the small miner who is just another brick in the wall enriching the person who introduced him. He is paying to mine, a concept that is diminishing with newer pools. There are more free pools than those taking fees.

Giants like deepbit are the exception to the rule. You pay them for practically zero variance

Not you. From what I gather you have the biggest amount of referrals on the network

I'm talking about individuals who stick their links into any possible field of text as long as it's readable
& make topics about their ref links and use gigantic banner ads with some cartoon aliens in it

There are large pools like bitcoins.lc that take 0% and even redistribute the transaction fees back to miners.

Just mine there, and make a shell account at triplemining.com & recruit newbies to work for you.

In the long term you make more profit (discounting a jackpot that you might or might not win) with this method.

Of course, it makes no financial sense to mine yourself on the pool,
but as long as you don't let the refs know this you're safe. They'll keep mining for you while you're at a 0% pool

Why sell for bitcoin in the first place if you don't believe it's worth anything

Why bother putting it down at every opportunity because you weren't an early adapter

Why would I want to mine with a 1% fee?
The best way to maximize your earnings is to mine at a 0% pool like bitcoins.lc, and use a pool like triplemining.com only for the referral link.

That way you get free money from suckers who join under your link,
but you don't have to pay a 1% fee while mining yourself.

I don't get anything out of paying the 1%. For every 100 BTC I mine, I get 99 at triplemining and 100 at BTCguild or bitcoins.lc

Referrals can just be used as serfs while you do none of the mining, that's what I'd do. If I was cheap enough to spam a link all over the forum to get 20 cents of cash a day.

Less than a 6990. I measured 88.6dB at 100% fan speed, lol.

It literally sounds like a jet takeoff.

Try telling that to new miners who never built a system before, or might've just been casually gaming at most.

It doesn't matter if your core temp shows 70-80c in afterburner.

The card *will* die with that voltage in a few months, maybe even weeks. And there are examples on the forum if you have the motivation to search for these 2-week-wonders.

When you joined 2 weeks ago, you thought bitcoin was exciting. You tried to sell silver for bitcoins at over spot price but got no takers. Then you got bitter about being too late to the party, and went on a crusade against bitcoin,

Made a few predictions how it will fall to $10 within a week and how much it just sucks in general.

What gives? Do you lose out when someone else gets something? This seems like pure jealousy IMO.
You would kill to be an early miner or buyer, but you know that's not going to happen.

I don't think anyone "needs" BTC for normal purchases, just as you don't "need" prepaid credit cards, gold bullion or jewels.

The only peple that 'need' BTC are the people doing business over TOR. Everything there is sold with bitcoin.

Think your pool got attacked again, latency through the roof

Edit: my hashrate returned to normal after the long block.

http://www.synchrotech.com/product-usb/usb20_to_usb20_expresscards_host_adapter.html

Works with any laptop as long as it has a single USB port.

I've seen old laptops with USB 2.0 ports as low as 15 dollars used. 256mb RAM, pentium processors etc.

I also got one of my transfers in the 4-digits at the same time as Valdam today.

Just goes to prove they send them out in batches all at once, and are not going to scam your money.

It's run by a doctorate-level MIT professor who has also been with bitcoin pretty much since the start.

You can find him on the forum under the name Nefario, he's one of the moderators.
http://forum.bitcoin.org/index.php?action=profile;u=3046

wow, that Antec case is great value for the $.

Sure it doesn't have the airflow of the Cablesaurus case but for 50 bucks, housing 4 full size cards is a steal.

There is.
http://www.glbse.com is probably the best, bitoption.org is just starting out

You can buy long term futures and soon options for BTC, and sites like Mt. Gox and Camp. BX are adding support for it if you read their websites.
The fact is, you can't analyze the bitcoin market. After you find out the options exist, you wont have the guts to do anything.

The price is very volatile, the market is too small at this point and influenced by bots and occassional large buy orders/offloading of hoarders