You could do this and would be making a good long term investment that with tax credits could pay off in 5 years or less. But if you're doing it just for Bitcoin and short returns, the others are right, you're wasting your time. However, you really can't lose if you're in it for 5 years, as sooner or later, regardless of whether BTC pays off, the electricity being paid off will pay for itself.

$45 per GH/s. If of course your'e doing it as a hobbyist, an idealist or a believer this is the next big thing forever, measuring what you would pay in BTC or USD is irrelevant. If paying for things and having an actual operating market that involves currency that has value is something you're interested, measuring it in USD or a local currency is pretty important at this point.

It's not a question of whether it is centralization and will be, it's a question of how much. And realistically it will be too much unless there is another freak development. There's too much money in a small group of hands, too much work landing in a single place, and too much control landing on single shoulders. Sure, it's still transparent and a solid concept, excepting that it barely buys anything, but it's headed right towards centralization as smaller miners and transaction processors drop off into oblivion.

The poor can't buy bread with BTC. Tell a person they're virtually unable to eat without a specific currency and certainly they will take it regardless of moral and reliability calms.

I wouldn't want to pay more than $75/GH/s. The way difficulty is increasing and will continue to as products ship and the market trending downwards pretty quickly as individuals cash out on ASICs for more widely accepted currencies, there is a lot of risk. You have to remember that at some oint mining is creating costs in another currency as utility providers at the very least aren't accepting BTC, so cashing out is almost a necessity at some point and the currency risk associated with any business is present.

To deny that ASICs aren't causing the destabilization as people start to cash out on them whether or not they started with another currency is silly. ASICs at this point only pay off in the very short term or the relatively long term. The middle is chaos in transition, both owing to these hardware changes and owing to legal and regulatory issues. To add to that, you can't buy much with BTC as it goes right now, especially in terms of things that one actually needs. The only logical conclusion right now if you bought ASICs is to cash them out to a more readily usable currency unless you are just that dedicated to the idea of BTC.

CKJ411

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Thanks.

I'm enrolled in the course. It does in fact end with a contest where you must create a website that solicits funding for an idea that accepts Bitcoin. The sites will then be judges based on their own merit and the ideas merit in a contest judged by some Silicon Valley elite. Honestly, I'm not sure what I think of it, since the contest portion which is judged partially on Bitcoin collected can easily be manipulated by a single individual that already possesses a store of Bitcoin.

Kickstarter or Indiegogo are examples of crowdfunding. Basically someone who has a project starts a little page on the site. It details the project and contains a budget or goal of funding that project. Individuals can then look at the page, decide if they like the idea, whether they think the project originator is legitimate and decide to fund the project to some extent. It allows for giving donations and often there are rewards for funding a project to a certain amount. In most cases, the conditions of the crowdfunding site are that if the project makes all the funding it needs in a month, the funding is passed on. If it doesn't the funding is returned to those who gave it.

It individuals an opportunity to invest really cool ideas they love. It does carry risks of course. No crowdfunding site backs up the claims the projects are making, it's very buyer beware. That said, as far as has been documented, there have been many successful projects and few failures. To me, the bridge to get innovative projects that are directly funded by those who desire them is awesome and worth all the risk.

I could answer other questions at length on the topic need be.

Who cares how big it looks, all the decimals are annoying as Hell. several currencies have in fact changed their numeration to account for massive influxes of valuation.

Totally feasible, but the problem is availability. At this point, it's very risky to think you can get one on hand fast enough to make the return before difficulty jumps up. Those that bought them when they were running like $1500 are getting massive returns and if you could find one for such a price you would as well. The issue is that currently they are running more like $10k for a preorder and i see them going for $20-30k on eBay. At that price it's pretty risky even if you can get the thing in your hands and operating right now.

The main decider will be if the bottom drops out. If Avalon or by some stroke of the gods BFL actually starts getting their product out the door at a reasonable rate with stock on hand, the return is likely to drop out very quickly. Consider that there are barely any ASICs in play right now and the last difficulty jump was essentially one of the highest ever.

Exactly. Way too many people hyping this as some infallible system at the moment.

Having the same issue. This requirement is nothing short of stupid.

Always willing to try.

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Don't know about 50BTC, but BTC Guild is running fine for me.

What would be the best place to determine where the dormant coins are lying about?

At the current price, not at all. Unfortunately the frenzy for the Eruptors has caused their price to be ridiculous. So the return just isn't there. On the other hand, if you can get your hands on one of Avalon's units or a fabled BFL unit the return is there. The Eruptors really only make sense if you are buying in large quantity. If it costs you more than $250 each there's no way you'll ever get the money back unless BTC makes a huge jump in the currency market. They really looked like they were going to become the mining unit of those without the funds for larger rigs, but so far the prices are too high to make it happen.

Posting my thanks in advance.

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Thanks 1HcXgdPPKcHnxLFgsskrhw5o9mgvh3KBwj

It's a wonderfully simplified experience and worthy of your trust, but keep in mind any cloud based wallet service has a level vulnerability. They get hacked, you lose all your coin with them. As far as selling through them, you're in good hands and it's a b it easier than exchanges in my opinion at the current moment.