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This is a good thread. Thank you for starting it.
What I'm not clear on is why should we trust any of these people/businesses to not keep a copy of our private keys? It's pretty clear that Bitcoin scoundrels are creative and opportunistic, and incompetence itself plays a major part in many recent problems.
Of course I'm mainly talking about companies that sell pre-made bills, coins, etc. Offline bitaddress paper wallets that you generate yourself and print yourself are obviously in a different category (though you should at least think about what your printer does while you're sleeping...).
Cheers,
SimonQ
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Greetings - allow me to share some thoughts on why I believe Bitcoin will inevitably succeed despite current turmoil... The following article draws an analogy between the growth of Bitcoin and the expansion of railroads in the 19th century, examining, comparing, and putting in perspective hiccups along the way for each: http://www.247btc.com/bitcoins/138/bitcoin-railroads-exchanges-ticket-booths/
Conclusion - SPOILER ALERT  If you see the current volatility and problems and cast aspersions on Bitcoin itself, then you’re missing the point. Bitcoin, like the railroads, is a really good idea with the potential to change the landscape of human civilization. The exchanges, like the little old ticket booths, are just not yet up to task at getting people on and off. So let’s lay the blame where it belongs: at the feet of the exchanges. And our hope for a better future is in better exchanges. Agree? Disagree? Feedback is greatly appreciated. Cheers, SimonQ |
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I completely agree. Bitcoin is solid, but the exchanges and unregulated markets are a complete disaster right now. What are some other ways we can foster fair markets, which would hopefully also limit volatility?
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by the time my Jalapeno arrives on my doorstep (I ordered a few days ago, so probably not until at least August... maybe)
 I appreciate your optimism! I'm thinking more like between 2014 and never. But nothing would make me happier than to be wrong. |
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What we need are more exchanges, operated by different people, hosted on different servers. I'm thinking what we really need, is an opensource bitcoin traders framework.
Such a project is newly underway, and (unlike many of the current exchanges) there is an impressive group of people behind it. What is Buttercoin?
Following the events of April 2013 in which Bitcoin value dropped dramatically as a result of the short comings of existing exchanges it was decided that there should be a community driven and open source exchange. As such Buttercoin was born out of neccesity for this. Buttercoin allows the decentralisation of exchange between Bitcoin and other currencies. Check out: P.S. I posted an article tonight you might find interesting discussing the difference between Bitcoin and Bitcoin Exchanges, with the underlying point being that while Bitcoin itself is solid, we need to improve our exchanges! http://www.247btc.com/bitcoins/138/bitcoin-railroads-exchanges-ticket-booths/ |
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As others have said, the main damage comes from the moving parts (fans) breaking down with constant use, but also high heat can cause premature failure of integrated circuits and connections. In the end, heat is the enemy. Two things you can do to prolong the life of your cards: - Don't overclock!
- Don't even run them at 100%. Run at 80% or 60% or whatever. This allows the fans to run slower too.
- Add additional external cooling: fans, air conditioner, etc.
Happy mining! |
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I'm new to bitcoin and I'm really not that tech savy so I'm unsure how to properly secure my wallet.
Given your level of expertise, you should not be trying to do what you are describing. I've seen way too many people lose their wallets by missing a step or misunderstanding subtleties (e.g. "change addresses") in trying to pull off their own cold storage and offline backups. I don't mean this as an insult, but rather for your protection. If you are truly new and not tech savvy, you are probably better off first leaving your coins on an online wallet, where you can log in with a username+password and have access to them. Just make sure you choose a trusted site. You can create a wallet here: https://blockchain.info/wallet/newFor additional security, you can have a physical (digital) key such as a USB YubiKey and add it to your wallet like this: https://blockchain.info/wallet/yubikey |
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Mac users don't get a lot of attention in the Bitcoin world. It seems almost entirely Windows and Linux. I'm posting here partly to bump this thread, partly to save this thread, and lastly to suggest considering building a cheap Windows or Linux system to host your graphics cards and do your mining with until support of OS X catches up to demand.
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things work until they don't. If you find something that is working for you, use it and enjoy it while it lasts, but know that it won't last.
Truer words have never been spoken! OP's approach is a good one and well thought out, but you can always get caught buying at the top of a big fall, or having a few "bad days" run together into a bad month... Don't gamble with more than you can afford to lose. And yes, it's gambling, even if you're having a good winning streak. |
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Hi there! I've been following Bitcoin for a while now and am excited to start participating here. I'm interested in the technology, politics, and economics of this new invention. The world is about to undergo some major changes for the better!
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