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It's not that important, but it might be interesting to those interested in mining.
There are always people in the world who overdo everything. I personally look at it like he's taking advantage of a unique point and time in history. If I could do the same, I'd definitely be doing it...
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Cost of the operation. electric, loan repayments (unless its all paid for) rent etc. 4 months ago BTC was worth 2x what it is now, its a big chunk to lose.
I think it's all paid for... Here's a quote from page 2: "I figure I spent about $1 million building the existing facility and racking and deployment of the mining hardware, and then we probably spent in the range of $2 million to $3 million on the hardware itself," he said. Rent is another $8,000 a month, power $40,000 a month. "I think we spent probably $3 to $5 million dollars total on the operation. It's paid itself off [in bitcoins] many times over already."
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Why a few months Dave Carlson just will have the world nearly 10% coins?
He's aiming to mine 10% of new coins...
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Magic Internet Money not even in the list I only looked at the 100 coins listed on CoinMarketCap...
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Litecoin should be above Vertcoin... and Peercoin should be right after Litecoin..
If you have the links with numbers that corroborate that, I can update it...
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Thanks for the links. I just updated the list... It was really hard to find the pages with the most viewers for some of the coins. If anyone else sees any other discrepancies, please post them.
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So you are clearly a NXT fan?
I just don't know how to make an 8 without turning it into a smiley!
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you forgot to add: after a few announcments of new announments they finally managed to solve it themselves and continue.
but we have to understand that we are only allowed to withdraw 1btc/day because of the risk they take beeing the biggest exchange and permanently attacked.
Good point. I just added that... I didn't reset the votes since there are so few right now.
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Bitcoin prices on Mt. Gox have swung between $91 and $350 over the past three days... Weigh in on whether or not you think the exchange is doomed. What do you think they need to do survive?
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Bitcoin has Satoshi, which gives the lends the coin a backstory that the media loves. I think it's time we elevate the status of Ripple's founder, Jed McCaleb. To that end, I've written two articles on him: 1) Where I talk about the origins of Ripple: http://crypt.la/2014/02/02/jed-mccaleb-the-secret-origins-of-ripple-xrp/2) A breakdown of all my favorite Jed McCaleb quotes: http://crypt.la/2014/02/02/best-jed-mccaleb-quotes-of-all-time/He really is a fascinating guy: a 38-year-old college dropout/surfer who builds up insanely successful businesses (like MtGox) then tosses the keys to someone else so he can go enjoy life. I also love the fact that he's a bitcoin believer who saw issues with the waste in mining... Here are my top three favorite Jed quotes: 1) On the “impossibility” that another currency could overtake bitcoin: “Oh, just like how no social network could possibly overtake friendster. or no payment method could overtake paypal. I see your point.”
2) On bitcoin deflation: “Maybe this will cause people to only buy things, which are important rather than what they do now, which is buy a ton of crap.”
3) “After I sold Mt. Gox, I was thinking of ways to do Bitcoin without the mining. I had an idea about how to do it and I posted the idea on a forum hoping that someone else would make it, but no one did. Finally I did it myself because I couldn’t stop thinking about it. It’s something I believe needs to exist.” More great Jed quotes here: http://crypt.la/2014/02/02/best-jed-mccaleb-quotes-of-all-time/Please note Jed still believes (as I do) that ripple won't "replace" bitcoin, but rather complement it... Both of them should have a great year in 2014.
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There is literally zero content in this article that has any relevance to anything remotely resembling any kind of actual analysis about the merits of Bitcoin vs. Ripple.
I do think Reyes is making the point that the ripple (as a protocol) has more utility because you can use it to transfer almost anything of value. His own currency (XNF) trades on ripple, but he also mentioned stocks and bonds. I think we're in the very earliest stages of seeing what starts trading on ripple exchanges... It's going to be pretty impressive.
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If it's profitable they sure will.
Ok. I can't argue with that. +1 I guess when we say "profitable," we've got to think about what currency they'll be getting paid in
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I just posted an article on my blog where I quoted the founder of NoFiatCoin as saying he thinks mining is going to go the way of the dodo: http://crypt.la/2014/01/31/eventually-mining-is-going-to-be-dead-and-ripple-will-rule-says-nofiatcoin-xnf-founder/I agree for the most part, though I could see bitcoin being the exception to the rule (and perhaps litecoin, too). That said, I believe the vast majority of the 500 other altcoins are toast. There's just no way people are going to devote serious computing power to hundreds of different altcoins for years to come. Even using all that power for bitcoin is disconcerting... I wonder if Satoshi would do it the same way if he got to start over again from scratch?
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"The Trust" is doing what?
Are they making decisions about Bitcoin to some entity behind the Bitcoin users' backs?
I hope I just misunderstood that.
He's referring to the "bitcoin trust," which is the official name for the etf. I wouldn't say they're making decisions so much as trying to guide the SEC toward viewing bitcoin in a certain light (i.e. as an asset rather than currency or commodity). I haven't done enough research to know if that's a good thing or not, though I do know the capital gains tax rate is lower than other tax rates (if you make more than $72k a year). Capital gains are taxed at 20% in 2013. Personal income is taxed on a sliding scale with the bulk of people paying 15%. if you make more than $72k, though, your tax rate jumps to 25% and keeps climbing from there all the way up to an obscene 39%! So, I guess it's good if you're making a lot of dough.
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