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I sold 2 at exactly $30 ea
That's all I had at the time.
Since there's no efficient way to get that as cash, I kept it as a balance and recently used it to buy BTC at $5 ea.
Some day, some day $30 will be considered cheap.
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But if you hack a bank if you can crack SHA, the authorities will probably come for you.
If you can hash way faster than other people, it's perfectly legal.
Why is the bank always the first thing people think of. No imagination.  |
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If SHA256 is suddenly useless then bitcoin will be probably the minor problem: the whole world, banks etcetc use SHA
Never considered this. Of all the ways you could get rich by cracking SHA encryption, bitcoin's reward:work ratio is relatively low. |
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Cost/Mhs the best is BFL.
Yes, and you will get your BFL 3 months after you order it, and it isn't usable with p2pool. Why not? Is it a software or a hardware issue? Firmware and software - but BFL has stated that they are working on modifications to the firmware so that it can support P2Pool, and then the associated software would need to be changed to support it. So do all BFL products use proprietary software and hardware? As in, they will not work with 3rd party miner software? |
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Cost/Mhs the best is BFL.
Yes, and you will get your BFL 3 months after you order it, and it isn't usable with p2pool. Why not? Is it a software or a hardware issue? |
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I was told by an accountant that technically, your BTC are an investment, you pay taxes once you realize that investment by turning it into CAD dollars, and that is counted as income. You can however deduct hardware depreciation if you bought mining hardware.
None of that is technically accurate, so you'll need to talk to a tax person either way.
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Yeah, I didn't see the other reading at all until pointed out.
I imagine people read the bible the same way, completely oblivious to the authors true intention. Thus is the folly of the written word. |
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40% Greed
10% Money I can "make" myself
10% Money I Control
10% A Globalized currency
10% Truly Decentralized
10% peer-to-peer
10% Its Digital
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The moral thing to do would be to send an automatic payout, THEN lock the account, but I guess they chose to keep the BTC for themselves.
Just as well, DeepBit has too much hashing power as it is.
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So obviously the solution is to design a currency denominated in intangible religious benefits.
Like Reddit Karma? |
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You can't outlaw Bitcoin, but that doesn't mean the idiots won't try.
I'm not so much worried about them trying. That would be like North Korea trying to launch a space program. What concerns me is their well practiced and finely tuned ability to ruin innocent peoples lives, financially, socially, and mentally. But that's the true strength of a decentralized system. No one point of critical failure. |
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Oh, I misunderstood, thought you meant only bad replies come fast including this one. I get it now.
Good point: I swear I've never gotten a useful reply that quickly  I swear I've never gotten a useful reply that quickly  |
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If you work for McCool International, you are not allowed to give us your SSN or your real name. We operate on pseudonymns only. So, there will be no taxation. We have similar arrangements with our suppliers, and have a vertically integrated supply chain that is all operating pseudonymously without any reporting. Soon our inexepensive manufactured products will be available at black markets near you, and since we avoid all the bullshit middlemen and taxation we can certainly undercut the "lol abiding" (as we like to call them) competition.
The most pure form of capitalism. Down!  With ALL the things! |
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Please, let's not be so naive as to think that a thing potentially endangering the government's monopoly on money and their ability to tax would/could not get attacked by them becuase of what words we use to describe bitcoins.. Either way, that's about all there is to it I guess. |
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Can you [insert free activity] without the government whining?
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My greatest concern with using BitCoin is the Government trying to impose some sort of tax or stifling it in some way, as it is self classified as a currency. What we need is a Digital Commodity, to make trading between people more like "trading" than "selling/buying".
If I pay cash for a TV, the Govt will demand a slice in the form of sales Tax. However, if I were to trade a PS3 for said television, there is no "currency" involved.
Any ideas?
Edit: We need an economist in here, I've probably fudged the buy vs trade analogy right up. And how do those taxes work?
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Anyone have an idea as to why the reward drops are so sharp. Any theory as to why the drop isn't monthly, but in smaller portions?
My only guess is it was easier to do at the time (I consider that this was a hobby project at first, and corners were cut).
As pointed out before, there are plenty of things that, in hind sight, should've been done differently. Legend has it that there were many iterations of "BitCoin" before the present one, and this was never meant to be the final version, but it escaped the lab and spread like wildfire. Directed by... |
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...close enough 
*is there like an alarm in your head for when someone is wrong on the internet? I swear I've never gotten a useful reply that quicklyThat was a useful reply no? Yes, and it's never happened that fast on the intertubes |
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Everyone's got their panties twisted over the first block reward drop, but is there any approximate estimate for the time between the 25 to 12.5 block drop?
Anyone Investing in Long term Hardware this year will need to take that into account.
I have the feeling it'll be about the same as the period between the start of bitcoin and the first drop, but I have no source for that.
i does not get my pants twisted, i don't mine. ~4 years between every reward adjustment. Dodging the hard truth are we? |
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Everyone's got their panties twisted over the first block reward drop, but is there any approximate estimate for the time between the 25 to 12.5 block drop?
Anyone Investing in Long term Hardware this year will need to take that into account.
I have the feeling it'll be about the same as the period between the start of bitcoin and the first drop, but I have no source for that.
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