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81  Other / Off-topic / Re: Which coins-tokens do you own? on: July 19, 2017, 10:48:19 PM
Currently have none, but I want to buy some tokens tomorrow. Searching forum for some investments
82  Other / Off-topic / Re: Why would customers use Bitcoins? on: July 19, 2017, 10:47:24 PM
It is safe, you can be "invisible" to the government, and pay no fees. I think, ebay needs to introduce it
83  Bitcoin / Bitcoin Technical Support / Re: automatically repeating transactions blockchain.info on: March 07, 2017, 02:13:46 PM
I have one blockchain transaction that's been resent a few times and has been outstanding for 8 days total.  Roughly how long do you have to wait before it stops resending the transaction? 
84  Economy / Marketplace / Re: Bitcoinica - Advanced Bitcoin Trading Platform on: October 25, 2011, 02:08:52 AM
I keep getting an error when I try with withdraw USD to a mt gox code.  It says it was submitted but the status instantly says "Error: An error occurred. Please check your input and try again."  What does this mean?
85  Other / Politics & Society / Re: Great metals play: a nickel is now worth over six cents in metal content on: August 20, 2011, 05:22:44 PM
It's illegal to melt down nickels in the US or to export them for that purpose.  So not only would it be a big hassle but if you could find someone to do it you'd probably get caught before making any serious money.

86  Economy / Speculation / Re: RALLY!!! on: August 03, 2011, 09:08:52 PM
Go away for a few days and we're at 9?  Time for a late day rally imo, end at around 11.
87  Other / CPU/GPU Bitcoin mining hardware / Re: How many kWh are you using a month? on: July 26, 2011, 11:21:25 PM
Well, some basic maths that I had to run - in the middle of setting up a "small mining operation" Wink Had a talk today with the power company about my requirements in the not too low 2 digit megawatt per month area.

Every month has on average 730.5 hours. This is based on 12 months per year, 365.25 days per year. Yes, there is a leap yearevery 4 - lets just keep it like that.

Thus, every kilowatt you draw are 730.5 kilowatt hours per month Wink

Test rig here uses around 1.5 kilowatt for 6 x 6970. This means 1.09575 megawatt (1 point - decimal there). I round that up to 1.1 megawatt to account for side power.

A halfrack has 8 computers, we go for 3 half racks at the start Wink 26.3 megawatthours

Sounds like a lot, but at the end there is this hugh multiplicator from hours to month.

Wink Btw, I got contractually the ok to draw 365.25 megawatthours (500kw) from that location, more 6 months after reaching 300kw Wink

You shouldn't interchange megawatt and 1000 KwH.  Megawatt is a measure of power, kilowatt hours are measures of energy.
88  Economy / Trading Discussion / Re: Why should I use your Tradehill referral number? on: July 05, 2011, 02:46:43 AM
It's funny how much discussion, spam, and links there have been for tradehill referrals given how little they actually matter.  In total tradehill has done $1.25M in trades x .6% = $7,500 in revenue x 10% = $750 in commission.  Not sure if I'm missing something, but $750 split 20,000 ways is none too exciting. 
89  Bitcoin / Mining / Re: Capital cost. on: July 05, 2011, 02:08:08 AM
For the systems I currently have online I paid around $2200 for 3200ish Mhash.  That's 11 5830s and various other components.
90  Bitcoin / Bitcoin Discussion / Re: what's your stop loss on: July 05, 2011, 02:03:30 AM
I don't have a stop loss, but I'll admit I sold some bitcoins today for the first time since they were over $30, which seems a lot longer ago than it really was.  I'm just starting to get nervous about lower daily trade volume and wondering how much new money is really flowing into the system.  I have no problem when the price drops in response to supply from miners or from early adopters because at least new money is entering the bitcoin economy.  But when speculators start losing interest and selling and you lack any new money to replace them - that's when we'll really take a price hit.

I'm especially concerned about volume now that the major exchanges are offering much lower fees.  You would think that it would be a lot higher than in the past simply from people taking advantage of arbitrage to make a few bucks here and there.  Hopefully we're still in the weekend doldrums considering it's a holiday in the US and banks are closed.  If we have another down day tomorrow though, I'll be worried.
91  Economy / Services / Re: Selling 1Ghash mining contract - $167/month on: July 03, 2011, 02:51:40 PM
For the lay person, can you explain "zero-variance" again in real-dollar terms?

For example, we all know the difficulty now is 1,379,223, which currently yields and approx of .73 BTC / day, 22.17 BTC a month

and is set to go up to 1,571,848 which will yield less.

The question then is, as difficulty goes up, safe to assume that the yield in BTC will decrease right?



Zero-variance payments mean you get the exact amount you would expect to earn on average.  Using the current yield of .73 btc per day, you would get an amount equal to that daily rate every pay period.  It's called zero variance because it's a fixed rate based on the difficulty, while if you mined on any pool you would have some lucky days and some unlucky days and would never be able to earn a fixed rate like this.  Pools also have fees which would reduce the amount you earn. 

If the difficulty does go up to 1,571,848 the 1ghash will be expected to pull in .64btc/day from then on.  You would want to come up with a reasonable expectation on what you expect the future difficulty growth to be over the next year and decide if it's worth it for you.  No one can say for sure what will happen, but it's pretty likely that difficulty will increase at a decent rate in the short term and will probably level out when mining becomes only marginally profitable.  So I can't say exactly how many BTC this contract will produce over it's lifetime because anything could happen, but I expect it to earn somewhere between 100 and 250 BTC.
92  Economy / Services / [SUSPENDED] - Selling 1Ghash mining contract - $167/month on: July 03, 2011, 03:59:06 AM
I'm suspending this offer for the time being but don't want to delete yet because I may reopen it.  I'll bump the thread if it is reopened

I'm selling a mining contract for a one year period.  It will be to rent one gigahash/sec and receive zero variance payments at every difficulty change.  The buyer has to pay for the full year in advance, but they will receive rates that are vastly better than any other option on the market today.  The price will be $2,000 - which works out to an average of $167 a month.  This should be less than half of the price offered by anyone else.  Of course the commitment on those deals is not as long, but this is my tradeoff required to offer you such a price.

The payments will be made every time the difficulty changes, and you will be paid the exact zero-variance amount that 1ghash should have earned over that time period.  For example, the current difficulty is 1,379,223 and 1ghash is expected to earn .7293 BTC per day.  If it takes 12.5 days exactly to go through 2016 blocks (the amount required for a difficulty change) then you will receive a payment of 9.116 BTC (12.5 x .7293) on the day the difficulty changed.  It may sound a little complicated, but the end result is perfect zero variance payments without needing to make 365 individual transactions if I paid daily or needing to calculate pro-rata amounts for days that the difficulty changed.

I believe I can accept paypal as a payment for this transaction at an additional 5% fee (so $2,100 total).  I'll want to clear this with paypal first, but my plan is to sell you a flash drive with your first payment stored in a wallet.dat.  You will need to be verified with a confirmed address and I will mail you the flash drive with signature confirmation required.  To prevent chargebacks, the transaction will not mention bitcoins at all, but will appear as if you are just buying the flash drive.  I will also accept payment by any method where no charge back is possible, such as Mt. Gox or bitcoins.

To show you that I am legitimate, here is a screen shot showing that I am a top-rated ebay powerseller with nearly 10,000 feedback and sales of over $25,000 a month.  I have blocked out my name for the time being because I don't want it public for just anyone, but I will of course disclose it to buyers and verify my identity by contacting you through ebay.

Please contact me or post with any questions.

93  Other / Obsolete (selling) / Re: selling mining contracts 440£ per Ghps per Month on: July 03, 2011, 01:33:15 AM
Ok, What is the risk of Fisherman ? Big.  And if he have some future contracts - that risk is even bigger.
What is the risk of OilDriller ?  Big enough. In that case, future contracts are somehow lowers the risk.
What is a risk of gold mining company - there is some risk. Actually futures on that marked, increases the risk taken.
What is risk of Miner contracter ? - No any risk. All risk lies on shoulder of contract buyer.
Get my point ?

Please tell me English is not your first language.  I don't mean to be rude, but I'm not sure anyone really gets your point.  I'm not sure you really understand futures contracts, as you seem to imply they increase the risk of the producer.  That's the exact opposite of what they are for.  Futures are hedges against unexpected changes in the market.  The farmer, miner, or oil company will lock in a price today for the products they will produce and deliver over time.  Effectively they win when the market price would have gone down after they lock in their price, and lose if it went up.  It doesn't imply that they lack any faith in their product or its viability, it's just they need predictable cash flow in order to meet their liabilities such as payments on debt and wages for employees.  

A mining contract is similar to a futures contract.  The bitcoin miner has to put up capital to get the venture online and wants to guarantee a level of cash flow that will make them a profit.  Let's say it costs $10,000 and a lot of time to put 10ghash online.  The miner could of course assume all the risk and all the reward of the venture and not engage in any contracts.  But there are limits to the amount of capital one can put into a venture, and limits on the amount of risk one is willing to take, regardless of how optimistic they are about the future.  Once they have had their fill of risk, an option to keep expanding is to sell mining contracts at a profit.  

It sounds like you are trying to say saying that in a contractual agreement between two businesses, both parties should take equal risk, so if the buyer of the contract loses out on the deal then the contractor should lose out too.  While that's an attractive option for the buyer it makes no sense for the seller.  The seller in this case gets no upside benefit should bitcoins go to $100, they just get the contracted price.  If they get no upside benefit they need not assume any downside risk either.  The seller could structure it so they split profits and losses proportionally, but that's a completely different business arrangement, more resembling a partnership than a contract.
94  Bitcoin / Bitcoin Discussion / Re: Wall Street Journal Frontpage Ad - 5000 Bitcoins on: July 03, 2011, 12:57:15 AM
The problem with projects like this in my mind is they should be backed by those who stand to make money should the endeavor succeed.  But the decentralized nature of bitcoin in this case hurts it because no one really has the incentive to put a lot of capital into a project to benefit the community as a whole.  Taking lots of small donations is neat, but in order for it to really go anywhere you need corporate or VC capital and for that to happen you need a product and possible revenue streams.

The only company which is making any real money from bitcoin transactions is Mt. Gox, and even their revenue has been decimated since the hack.  They used to do $2M a day in transactions, with a .65% tax on both sides that was $26,000/day in revenue.  The past few days have been about $500k at .3% on each side, for just $3,000/day (and some with free commissions, so probably less).  Do they have the potential for amazing growth?  Maybe, but not unless they can make it a hell of a lot easier and quicker and more user friendly for the average joe to get their hands on a few bitcoins.

What we need before any major campaign is either a massive overhaul on the bitcoin client to make it more user friendly and quicker to get online, or a web based wallet that will allow people to instantly load a balance with a CC/bank transfer, set up probably like paypal with verification required at the initial setup but instant thereafter.  Then people use the web based interface to send and receive coins rather than the download client.
95  Bitcoin / Bitcoin Discussion / Re: UK's first Gold ATM on: July 01, 2011, 02:02:55 PM
Gold ATM is actually a vending machine, because it only lets you buy the gold with credit cards/cash not actually withdraw from an account.  That, and it sells the bars in gift packaging at what I'm sure are rates of 50%+ over spot.  So just a novelty, and one that few could afford.  Might work better with silver since then you could actually get some decent mass at a dollar amount that people could blow.
96  Bitcoin / Bitcoin Discussion / Re: 10 blocks just in the last 30 minutes! on: July 01, 2011, 01:34:16 PM
You would expect around 7 per hour at the current difficulty and has rate:

134212    1d5031fbb0...    2011-07-01 13:01:24    39    2508.53796912    14.49
134211    80eef2667d...    2011-07-01 13:00:11    1    50    0.216
134210    6452e5316f...    2011-07-01 13:00:02    39    574.86725375    13.314
134209    130d2803c0...    2011-07-01 12:54:29    8    152.5666492    4.413
134208    2657cb748a...    2011-07-01 12:53:20    1    50    0.216
134207    76bf69af98...    2011-07-01 12:52:53    77    1499.81388017    21.386
134206    976bcff8b8...    2011-07-01 12:49:17    108    2800.18344621    53.09

This one had 7 in 12 minutes.  Doesn't mean anything, just some lucky people.  New block solved in 9 seconds for one.
97  Economy / Services / Re: Selling mining contracts from $0.24/mhash per month on: June 30, 2011, 07:46:12 PM
it would help if you can show your username in ebay, so people can contact you at ebay to verify that you are the same person here and there.
Just a thought.

I will of course disclose my identity to interested buyers and contact them through ebay to verify it, I just see no reason to throw it out there in the public.
98  Economy / Goods / Re: Selling or leasing mining equipment - $0.88/mhash - online now on: June 29, 2011, 06:23:46 PM
I've already sold a good portion of my capacity, so I am now raising my prices by approximately 10%.  See updated prices in original post.  Only 13 units remain for sale.
99  Other / Off-topic / Re: Funds for Adoption on: June 29, 2011, 12:25:10 PM
How much do adoption costs normally run?  I'm sure you know this by now, but the federal government will give you a tax credit for all your expenses up to the first $13,170 to pay for adoption costs.  File form 8839 with your taxes.

http://www.irs.gov/pub/irs-pdf/f8839.pdf
100  Bitcoin / Bitcoin Discussion / Re: eBay removing Bitcoin listings... on: June 29, 2011, 12:17:52 AM
At least it sounds like they know what a bitcoin is.  And it makes sense why they don't want you to be able to sell them.  The chargeback issue is a nightmare when you are trying to demonstrate proof of shipment through block explorer to a CSR who has no idea WTF you are talking about (and you can't really expect them to).  It's not some evil conspiracy to keep Bitcoin down, it's just bad for their business.

I think you could still sell a bitcoin wallet on a flash drive that is physically mailed, but I still don't know how the chargeback would work if the buyer did file a claim for item not as described instead of non delivery.
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