Well I can confirm that fst.zabmail.ru is a hashing thief. It may not be intentional but this pool has far too many orphans. Perhaps the pools connectivity to the network is not good enough? With 1200kH/s I earned just 28 coins in over 4 hours. I should have seen four times that many coins! So my hashing power is wasted. Anyone connecting to this pool would be wasting their time and resources!
PS. Just mined for half and hour on miningpool.co and already 10 coins! FIX your pool man!!
Just moved pool wallet to other hosting account, may be it will help, but old one also had fast connection. Only diff that new on EU server, old one was on some Russia based hosting, possible they block or limit p2p traffic in some way. btw, 28coins for 4 hours and 10 for 1.5 hours - its about same rate, assuming that FST can jump its diff two times less or more in one hour. Thanks for the reply vasp and for letting us know you are trying a different hosting account. Maybe I'll give your pool another go. For the record, it was 10 coins in 0.5 hours (I meant to type half AN hour not AND) my apologies for the confusing text! |
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They really should get someone with fluent English skills to redo the original post. And just interested; how much does the blockchain already take disk space?
If I take everything on my hard drive wrt Fastcoin minus the program, I count 908 Megabytes with an up-to-date ledger. |
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I don't understand why we are mining coins with a network difficulty of 40 - 60 and yet you don't want to see anything of difficulty less than 512 from me. Isn't that somewhat inefficient?
there's a difference between network difficulty and share difficulty. Multiply the coin's difficulty by 65,536 to get the share difficulty cgminer would need to find to solve a block at that difficulty. so a coin at 40 difficulty would be a share at 2,621,440 - much higher than 512  Thanks for trying to help me. I remember asking this question a while ago when I saw diffs in the 10's of millions (which didn't match any altcoins) - and the answer was opposite what you just told me. Has CGminer changed the diff display to reflect that but not the share difficulty display? I'm confused. Take care [edit] I started up and old version of CGminer and lo-and-behold, the units have been changed to confuse the aged. Thanks for the help! [edit2] So we're actually mining worldcoin right now at diff 48 but I would need to submit a share of diff ~3.15M to mine a block? |
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I don't understand why we are mining coins with a network difficulty of 40 - 60 and yet you don't want to see anything of difficulty less than 512 from me. Isn't that somewhat inefficient?
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http://fst.zabmail.ru - thief.I mine 3 days and must dig near 18k coins, but take only 10k coins. DO NOT USE THIS POOL - IT THiEF! I can confirm that! Mined one night long (about 10 hours) and got only 65 FST @ 750 kh/s! It's ridiculous. Btw. I love Fastcoin. I really hope it'll get big. But please, can you remove the first logo in the first post? It's really ugly  Edit: Something strange happend when solo mining  I got a reward of 32.40 which first came up in the Fastcoin Client and then suddenly disappeared. In my debug.log I found this: hash: 000000008f7613748096cd2e988ff8d5733705631e8dab7ec2adcc7f19cc468f
target: 00000001421c0000000000000000000000000000000000000000000000000000
[...]
CTxOut(nValue=32.40000000, scriptPubKey=0379b08860b8ed246de5654df38162)
[...]
generated 32.40
I can post everything but it's very long (the parts replaced by [...]). Can you tell me what went wrong? What you can confirm? my pool scam ? I do not understand how you can blame someone else stealing your money without at least learning how all working before. As i already said, all pool stats are transparent, you can easy check all blocks with explorer. Pool wallet are easy to be checked there for all generated blocks. Try solo mining and you will never get calculated amount now (if you dont have 500-1000mh, but also will kill your income because of diff jump). Think youll get only 20-25% of possible coins. Try listtransactions command in debug window of your wallet and you will see that your solomined blocks simple orphaned. Main fastcoin problem for now is called profit switching multipools. Becaue of generally low FST diff they can make few blocks chains very fast and ignore some rules. ie if normal pool submits one block they simple making same block and next one very fast, then submit this 2 block chain to network - prev one are orphaned. When diff increases too high for FST to be profitable compare to some other coin - multipool leaves network and on high diff general pools can make some blocks. Well I can confirm that fst.zabmail.ru is a hashing thief. It may not be intentional but this pool has far too many orphans. Perhaps the pools connectivity to the network is not good enough? With 1200kH/s I earned just 28 coins in over 4 hours. I should have seen four times that many coins! So my hashing power is wasted. Anyone connecting to this pool would be wasting their time and resources! PS. Just mined for half and hour on miningpool.co and already 10 coins! FIX your pool man!! |
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Looks like Garr255 was able to get Cognitive listed on Havelock Investments and they are trading once again. Garr255 is Garrett MacDonald; an American high school student from Idaho.
Also they are on schedule to receive 20+ TH/s from Cointerra in January. Cudos to him.
Take care
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Alright, should I run through all the diff estimate vs. roi calculators that exist which show that basically no vendor is selling hardware that will pay for itself before it costs more to run than it is earning? Or can you handle that on your own, then come back?
Honestly, mining = race to the bottom. People jumped on the BFL ship en masse then freaked out when they got delayed. OMFG, a delay with experimental hardware, who would have guessed? But that bandwagon left a long time ago. Get a tissue, cry in the corner, then come back to add something valid. Saying "These guys were late" once a week, every week, in a brand new thread does nothing, adds nothing, and only points out that people just can't get over it.
If you're that hard off on finding a cause, look for companies basically dumping cancer water into public water sources, pharmas who sell drugs that can kill people with zero legal recourse, or technology companies who basically use slave labor for obtaining their rare earth minerals and turn a blind eye to it. BFL makes Bitcoin mining hardware and was late on every estimate. Josh is one employee out of a company who has delivered several generations of mining hardware, more than almost anyone on this forum can say.
And for disclosure, no I don't have any monarchs on order, but if BFL catches up to the point where it is reasonable to order > ship within a week and their hardware is priced right I would purchase from them again because everything from my purchase to change of address to interactions with employees has been pleasant. Not the same story for everyone, but otherwise they've lived up to their end of the bargain, albeit delivering late.
People didn't jump on an "experimental hardware" ship. BFL showed they had products for sale and even shipped those products to "reviewers" (codinginmysleep.com for example) so we could "see their awesomeness". It's hard to understand were you are coming from to think that the constant complaining does nothing as it actually serves as a tool to preserve the reputation of BFL in the public memory. It serves to keep other unsuspecting individuals from hopping onto the "experimental hardware" band wagon that purports to have actual products for sale (viable or not)! We aren't in need of a cause - as you can plainly see, we have one! Just because it doesn't meet up with your lofty expectations doesn't mean we should be quiet about it. BFL may have shipped lots of miners but the fact that they took more orders than they could comfortably fill has to resonate in this forum until such time as they re-think their business model. What part of the bargain they lived up to are you referring to? The 1 watt per gigahash bargain? The USB powered bargain? The backlog filled by the end of August bargain? The end of September bargain? (oh wait there was no end of September bargain!) The ramped up production to 400 units per day? You are just tahnking your lucky stars you got yours when you did and that's all it took to keep your mouth shut. Try to imagine you are still waiting and your 2500 bucks has evaporated. Anyway, why would you enter a thread with this title and not expect to see this type of talk? Telling people to find a "higher" cause is utterly ridiculous here. And for disclosure, I HAVE ordered a BFL device and I AM STILL waiting for it after more than 6 months and I AM pissed off and I WONT ever do business with BFL in the future. I have also donated to the Red Cross, Movember Canada, Run for the Cure, the Heart and Stroke foundation, The Salvation Army, The Canadian Legion, Wikileaks and others... but I realize that is meaningless in this forum and I apologize for the spam. Take care |
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There is no ROI with a BFL single, little single, jalepeno, or anything else as of right now, if it's not in your hands hashing as of 3 months ago.
That's just a basic fact.
It's also a fact for just about any other vendor you inject into this statement. Except this is for stuff people are taking money for today. While I detest the business practices of BFL, neither of these statements are factual without some qualification. They are merely statements. Perhaps you will never be able to mine as many coins as you paid to purchase the equipment and this is what you intended to state. In this case it would have been better to buy the coins and hold them until a later date but we can only make statements of fact about that as far as the PAST is concerned. We hope that the coins are going to increase in value and if that increase is large enough, you may still make an ROI with your dusty old BFL piece of shit which you have been waiting for over 6 months now because they took more orders than they could comfortably fill and are still up to the same tactics today but I digress. Maybe we can even dust off the old video cards and blow the dust off or our old CPUs... but wait, we are responsible people and would have kept our equipment covered and free from dust so it would work properly lest we need it in the future... Take care |
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Maybe you can make some money selling the movie rights to your story. It all sounds pretty wild.
Take care
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Hm, is it still profitable? Just canceled my BFL order, bastards.... i don't have a clue! in 2 years when the contacts are done, ill let you know my guess, i'll get the $ value i put into it for sure, no problem, but i paid in BTC... I should of held my BTC but i could not resist the numbers, at the time ( when mining difficulty had just started to rise ) it seemed like i was going to double or even triple my BTC ( even considering that dif would keep going up) , so i figured difficulty can not go up that much more then I estimate and i would at least get 110% of my invested BTC back, and so i bought like a mad fool. difficulty rose way WAY higher / faster than i anticipated, and now i'm holding contracts that are likely not going to make half the BTC i put in... You can figure it out. Take the hashing rate of the contract you purchased in hashes/sec divide it by the current difficulty and multiply by 0.013064576229 The result is the number of Bitcoins you will ever make based on the current rate of difficulty rise. The cost of electricity is not a consideration in this calculation. Take care |
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what's funny is creative was bashing other securities not to long ago...
even good people can go bad
"Bashing" implies excessive, unjust or inappropriate criticism. Creativex was not "bashing" other securities. Stop spreading this pejorative. Take care |
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He's gone. It seems very hard for many of you to understand for some reason. I wonder why because it's a pretty clear case.
The shares went to shit and just like i mentioned here before there was basically no reason for it ever to go up again. He ofcourse realized this. Things went downhill from there.
I knew it was over and sold what was left of my shares. He started talking shit in a thread of the competition. For those who still couldn't see it that was the point where you should've got out.
We should all be so lucky to have your insight into this very complicated situation. Fortunately for us you don't mind sharing your cynicism and your aspersions (which might be construed as libellous) on Creativex's integrity so that we can bask in your negativity. To think this situation could have been avoided if we had all simply heeded your advice in the first place. Just to set the record straight, Creativex did not "talk shit" in a thread of the competition and our current situation is a direct result of the closure of BTCT which was based on information that few, if any, of us have been given. Too bad you didn't see that coming ShroomsKit - you could have saved us all a lot of Bitcoin. Take care |
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hey.. long time no read on this security.. i bought 17 shares at 0.75BTC each a while ago and never sold.. looking at this thread now, am i like the biggest dumbass around here?  or just a very unlucky person. Look on the bright side, we have nowhere to go but up from here  We're just waiting for Creativex to find another exchange and since we should be getting the 2X400 GH/s miners soon if they haven't already arrived, this baby should sky-rocket once it starts trading again! Stay optimistic! Take care |
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I have .1btc to loan to anyone that needs it. If you are a hero member with trust you can get it with no collateral. Anyone below a hero member please have collateral. Its not much btc but I figured I would offer it for the hell of it. 10% interest. So I give you .1btc and you return .11 btc. If all goes well I will start doing .1-.5 one-two week btc loans. These loans aren't meant for huge purchases obviously. Perhaps for someone that is trying to boost their trust on bitcointalk or something. Who knows. Comment below if interested.
**This is a one week loan. BTC
If you are charging 10% for a one week loan in the US or Canada it is considered Usury and is a federal offence. The legal limit for interest rate in Canada is 60% per annum. In the US it is regulated by state statutes and the allowable interests rates range from 8-36%. The federal regulation in the US sets the amount at twice the interest rate set by the state and makes it a felony offence. I'm not sure about the laws in other countries but there is no court in North America that will allow you to sue the borrower to recover the debt since the interest rate was illegal. The laws were enacted to protect citizens from debt slavery. Anyway if you were considering this as a possible business venture, you should probably stop before you get yourself into some serious legal trouble. Take care From http://www.parl.gc.ca/content/lop/researchpublications/prb0581-e.htmlShared federal-provincial jurisdiction over payday lenders has meant that they are essentially unregulated.(18) For example, the Criminal Code provision on usury (section 347) has not been used in a criminal context to curtail the activities of payday lenders, although several civil suits against payday lenders are currently under way. Payday loans are not regulated in Canada, so that's why their average interest rates are 1,242% per annum. If OP lives in Canada and calls this a payday loan, it may be legal.  It isn't considered a payday loan if it is secured and OP was demanding collateral Take care |
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I have .1btc to loan to anyone that needs it. If you are a hero member with trust you can get it with no collateral. Anyone below a hero member please have collateral. Its not much btc but I figured I would offer it for the hell of it. 10% interest. So I give you .1btc and you return .11 btc. If all goes well I will start doing .1-.5 one-two week btc loans. These loans aren't meant for huge purchases obviously. Perhaps for someone that is trying to boost their trust on bitcointalk or something. Who knows. Comment below if interested.
**This is a one week loan. BTC
If you are charging 10% for a one week loan in the US or Canada it is considered Usury and is a federal offence. The legal limit for interest rate in Canada is 60% per annum. In the US it is regulated by state statutes and the allowable interests rates range from 8-36%. The federal regulation in the US sets the amount at twice the interest rate set by the state and makes it a felony offence. I'm not sure about the laws in other countries but there is no court in North America that will allow you to sue the borrower to recover the debt since the interest rate was illegal. The laws were enacted to protect citizens from debt slavery. Anyway if you were considering this as a possible business venture, you should probably stop before you get yourself into some serious legal trouble. Take care |
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I think Hope isn't the right strategy to apply in this game..
Or in any game, for that matter. "In the unlikely story that is America, there has never been anything false about hope." - Barack Obama Hope is a strategy in any game as of Oct 16. 2013 since it was just passed into law as the Hope-is-a-strategy amendment to H.R. 2775 that ended the US gov't shutdown. Take care |
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Just wondering about this part of the contract Should management be unable or unwilling to continue operations of bASIC-MINING,
a suitable replacement, designated by management, will be sought out. If none
can be found all outstanding shares of bASIC-MINING will be bought back at a
price no less than 105% of the 7d Avg price, all assets held by bASIC-MINING
will be liquidated, and the proceeds distributed to shareholders. Now with the btct closing shares are worth less than %10 or even %5 of what they used to be. What I am wondering is that does the buyback comes first or the liquidation? because if the buyback then the owner has all the shares therefore distributing the money from sold equipment to himself. I am sorry I know this might be a stupid question. but I want to be sure. Also another thing: Should management be unable or unwilling to continue operations of bASIC-MINING,
a suitable replacement, designated by management, will be sought out. Maybe creativex is in the process of finding another manager for basic-mining, and logging in daily to bitcointalk is to negotiate with some people through PMs to take over the establishment? It sounds like a reasonable guess no? Since there is no exchange for bASIC-mining to trade right now, the shares have no 7d average price. I don't believe the company ever intended to use that buy back clause. It would have made it harder for management to be unwilling to continue however as the company never had 105% of the 7d average in reserve and maybe that was the point of that particular clause. A simple liquidation of assets with the proceeds being dispersed to shareholders would be the only logical course of action if it is deemed management is unable to continue. I don't know that Creativex has logged in but your guess seems to be the most reasonable I have seen! Take care |
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I said what I wanted to say. The fact that you don't understand it is based on your imperfect mental model of what has transpired. All offers and sales of securities must be registered with the SEC or qualify for some exemption from the registration requirements. Even the exemptions, if you qualify for them, require a form 144 to be filed with the SEC. So, the legality of what occurred at BTC-TC and LTC-Global is the same as it has been since 1933 (apparently). The fact that you and I didn't know this doesn't make it any more or less murky since last month.
I know as much as the rest of you which means you know that Creativex has been running this revenue share for going on a year and communicating with us on a very regular basis until now. Obviously something has changed and I refuse to believe his intentions are dishonest. He has already liquidated the assets and holdings of LTC-DMF and dispersed those funds to shareholders as a dividend on the closing of LTC-Global (also operated by Burnside). He stated this in his last post on Oct. 7th (in the LTC-DMF forum) and has said nothing else since that day in this or the LTC-DMF forum. We also know that he was considering other options to continue trading at first but those options were and still are extremely limited. I can guarantee one thing - no investors have got stolen. (sorry I couldn't resist)
Take care
If you are capable of such thing, I would like to ask to not use insults to defend your position and perhaps make your post more 'to the point' In my 'mental model', if fraud victims did not complied to all regulations, this does not lessen the gravity of the fraud. What do you find imperfect in that? I admit that no one knows what are creativex plans but in your 'mental model', if he never show up again, will that mean to you that no fraud has been committed because no one ever step up to explain it to you? How long will it take to even consider that some wrongdoing has been committed as a possibility? I sincerely hope that this is not the case but people disappearing and becoming unreachable is usually not a good sign. The other possibility is that he has been arrested but then I would have expected that we would had some echo from news outlets as they love bitcoin busts stories. If you read my post, I think you'll find that the only thing which could be construed as an insult was the poke at your use of the word stolen for the sole purpose of adding some humour to an otherwise humourless situation. You might notice I issued an apology for that directly afterward. So to answer your first question, I am quite capable of such a thing. I am unable to answer your second question since I cannot ascertain your mental model simply by looking at your question. If you remember, you stated that the legal situation was murky. This enabled me to ascertain that your mental model was imperfect. I would need more information to answer your second question. As for your third question - exactly as long as it takes to sort through the shareholder information which hopefully was transferred to him when BTC-TC shut down, liquidate the assets and disperse the proceeds without the aid of the software which was at his disposal through BTC-TC. I know you are a programmer but I am not so sure about Creativex - he may need considerable time to accomplish that task. As for your next statement, I prefer to believe that everyone is inherently good and let them prove me wrong. I simply hope that he is in good health. Take care |
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You guys should read something - http://www.sec.gov/info/smallbus/qasbsec.htm#noreg and ascertain whether it applies in our collective case. I would be hard-pressed to believe that any of you would think otherwise. Given that Creativex is an American citizen, it is in his best interest to remain silent now and possibly forever on the subject of bASIC-mining. We all jumped in and took the risk without fully understanding the regulations and consequences of our actions. It is time for us to grow up and take responsibility for those actions. Perhaps what is really needed at this time is a defence fund for Creativex rather than a scammer tag! You people are the scammers. You are probably in violation of federal and state laws which hardly gives you the authority to second-guess the integrity of Creativex. I would hope that he is retaining counsel if it is required and it would be nice if someone with the know-how would set up a defence fund on his behalf. Does anyone here have that knowledge? Creativex - if you are reading this - take care of yourself. no dollars changed hands... as I understand it creativeX only exchanged BTC for dollars to buy mining gear if he even purchased anything in USD. this is not the same thing as trendon shavers who duped a lot of people into giving him bitcoins and then exchanged them for dollars to fund his gambling habits.... does this mean that people who run WOW guilds and distribute a share of fat loot also have to register with the SEC? does this mean that EVE online has to register as a money service business? I'm not a legal expert but the way most tax authorities around the world have taken a position on virtual currencies is when they are exchanged for Fiat currency.. and by logical extension this should also apply to the way the SEC views virtual shares in a virtual business which deal solely in virtual currencies. as we have seen with the Trendon shavers case... the SEC only gets involved when someone loses a whole lot of real money and files a complaint. it doesn't seem like money (real or virtual) has been lost in the case of Basic-Mining so I don't think we have too much to worry about at this point. PS I was watching a doco the other day where the chairman of ASIC (Australias version of SEC) spelled out loud and clear that ASICs primary focus is to go after fraud cases where retail investors have lost a whole lot of money.. now ASIC and the US SEC do operate under different guidelines but ASIC is modeled on the US SEC. I'm sure if you look at high profile SEC cases you will see some similar statements. It would be nice if we could compare BTC-TC with a game such as monopoly, EVE or WOW so that we could be left to our own devices. Take care |
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You guys should read something - http://www.sec.gov/info/smallbus/qasbsec.htm#noreg and ascertain whether it applies in our collective case. I would be hard-pressed to believe that any of you would think otherwise. Given that Creativex is an American citizen, it is in his best interest to remain silent now and possibly forever on the subject of bASIC-mining. We all jumped in and took the risk without fully understanding the regulations and consequences of our actions. It is time for us to grow up and take responsibility for those actions. Perhaps what is really needed at this time is a defence fund for Creativex rather than a scammer tag! You people are the scammers. You are probably in violation of federal and state laws which hardly gives you the authority to second-guess the integrity of Creativex. I would hope that he is retaining counsel if it is required and it would be nice if someone with the know-how would set up a defence fund on his behalf. Does anyone here have that knowledge? Creativex - if you are reading this - take care of yourself. Just trying to understand what you want to say. We all understand that at best the legal situation of basic-mining is/was murky. Are you saying that now that legal risk become more concrete (IMHO the same as last month) this justify disappearing and leaving the investors wondering if they got stolen? I'm fine with CreativeX not willing to pursue further because of legal risk. If that is the case, the correct thing to do is to liquidate the assets and distribute back the profits to the share holders. Not a legal expert but disappearing could make him be in even more trouble if someone having lost few thousands of dollars calls the police. I said what I wanted to say. The fact that you don't understand it is based on your imperfect mental model of what has transpired. All offers and sales of securities must be registered with the SEC or qualify for some exemption from the registration requirements. Even the exemptions, if you qualify for them, require a form 144 to be filed with the SEC. So, the legality of what occurred at BTC-TC and LTC-Global is the same as it has been since 1933 (apparently). The fact that you and I didn't know this doesn't make it any more or less murky since last month. I know as much as the rest of you which means you know that Creativex has been running this revenue share for going on a year and communicating with us on a very regular basis until now. Obviously something has changed and I refuse to believe his intentions are dishonest. He has already liquidated the assets and holdings of LTC-DMF and dispersed those funds to shareholders as a dividend on the closing of LTC-Global (also operated by Burnside). He stated this in his last post on Oct. 7th (in the LTC-DMF forum) and has said nothing else since that day in this or the LTC-DMF forum. We also know that he was considering other options to continue trading at first but those options were and still are extremely limited. I can guarantee one thing - no investors have got stolen. (sorry I couldn't resist) Take care |
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