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1  Economy / Scam Accusations / The Coinbase Scam on: February 26, 2014, 06:58:55 PM
I think the Coinbase scam goes something like this.

1. You make your Coinbase Bitcoin purchase. The larger the purchase the better for them

2. Coinbase delays your coins by as much as 7 days and says the delay is because of BANKING ACH.  
    ACH does not take 7 days. If coinbase can get your money is 2 days, what is the point of waiting 5 more days ?

BECAUSE COINBASE NEEDS THE EXTRA TIME TO JUDGE THE MARKET BEFORE DECIDING TO SEND YOU BITCOINS OR NOT.
==========================================================================================

3. If the price of bitcoin goes up AT ANY TIME FAVOURABLE TO COINBASE, Coinbase does not want to give you the coins,
   they prefer to keep the bitcoins and politely email you saying so sorry. It was high risk. Try again in a few weeks.
   We will keep the profit this time. Better luck next time.

4. If the price of bitcoin drops AT ANYTIME UNFAVOURABLE TO COINBASE, from the time you ordered, Coinbase would be happy
    to send you the bitcoins and for you to take the loss.

5. Coinbase can buy and sell bitcoin immediately and Coinbase clients cannot.
    We have to wait days sometimes a week. And usually never get coins.
  
6. Coinbase is using Coinbase clients money for their own profit by first blocking clients wins and keeping that profit  but also
    allowing clients losses. (also Coinbase profit)



2  Alternate cryptocurrencies / Mining (Altcoins) / Re: Swedish ASIC miner company kncminer.com on: September 17, 2013, 10:14:46 PM
http://www.coindesk.com/kncminer-offers-free-speed-increase-first-bitcoin-miner-shipments/

Sam Cole, co-founder of KnCMiner, said the fabrication process of the chips has been completed and they are now on their way to an assembly house in Asia, before being shipped to KnCMiner’s offices in Sweden in around six days’ time

The more important bit of info from this is that, as believed by some of us here to begin with, KNC is having folks physically transport the chips during these transits, in order to bypass customs delays.

I'm sure someone will come up with new fears now. "These folks will take the chips and run!!!"

Multiple couriers and paths.  Chips cannot be used anywhere else.
3  Other / Beginners & Help / Re: How Do I Setup and Mine with a ASIC USB Block Eruptor with CGMiner? on: August 31, 2013, 03:34:02 PM

I do not like to keep a computer running unless it is absolutely essential.
I have a small HP-MINI that I use without a monitor and connect to it using SSH.

The OS was XUBuntu 13.04 and I was using Samba for filesharing.
root is a small 120GB SSD drive and then attached some large 2TB drives to the USB ports.
This way I could quickly access the large usb drives over the network using Windows mapped drive+File sharing.
I also used the 120GB for files, but that is only for small stuff.
It was my Samba/NAS file server.

I had some ASIC USB chips. I decided to just add them to the HPMINI. I added BFGMINER and it saw all 3 usb devices.
I know the USB devices will never make much money, so it was just for the experience of trying CGMINER and BFGMiner.
I had it configured to miner BTC on Slush. Yes, I know a waste of time. I will switch to an scrypt later.

Anyways just added a fan to keep the USB devices cool.
You have to cool them USB ASICMINERS, without cooling they will surely melt.
Far to hot  for any ASIC to be, without burning out quickly. A $10 personal fan works great.

Then I check my SLUSH account to see how they are doing. So I can check them remotely.

So my Xubuntu 13.04 is both my samba fileserver and ASIC bitcoiner miner at the same time.  No cpu load, no heat and quiet.

No that it matters but hopefully I will have some KNC hardware to replace them with soon.
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