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1  Other / Beginners & Help / Re: Do you think another 51% attack will happen? on: January 27, 2014, 04:54:56 AM
So you would need 5,372 of those bad boys to get 51%.  That's a $54 million investment in hardware.
...
So there's really no economic incentive for performing a 51% attack for the purpose of double-spending against Bitcoin.

That doesn't mean it won't or can't happen, it just means the likelihood of it occurring is pretty small.

For a government wishing to destroy bitcoin because it competes with their fiat currency, investment of $54 million USD will be considered cheap. Likelyhood of such attack may not be so small. Gov can wreak havoc by doublespending, or by not allowing arbitrary transactions. Probably was at least considered at some government level. The effect of having 51% is not completely devastating, as it is not possible to just steal wallets, but can land a big blow to trust in bitcoin.
2  Other / Beginners & Help / Re: Mining time on: January 27, 2014, 02:23:20 AM
Forget getting any BTC this way.

Look here:
https://bitcointalk.org/index.php?topic=259649.0

If you mine in this multipool, you will mine other Scrypt coins - those easily mineable with GPU.
That multipool will convert all earnings to BTC and send it to you.

Still, you will earn one BTC much faster this way than in ordinary BTC pool.
Not sure how much faster, but I think about 1 or 2 years for 1 BTC.

Although you have nvidia card, not as good as ATI cards for mining.
With good ATI card you may be able to earn 1 BTC maybe in 2-3 months.

Directly mining some other new experimental coins can be even more profitable.
But you have to know the coins.
And even then there is a risk - you may mine coin that later just dies, without any profit.

So stick with the multipool I suggested.
At least until you learn more about Altcoins and mining.

And if you want to mine bitcoin directly, you can get some good ASIC.
CPU's, GPU's and bad ASIC's are just waste of power and money.
But good ASIC's are expensive (one costs several BTC).
3  Economy / Speculation / Re: January 31st, Will China ban exchanger's bank transfers funding methods? on: January 26, 2014, 11:25:26 PM
I bought more today, I bought yesterday, and the day before as well...

I have no intention of selling, if BTC goes to $100 I will buy as many as I can afford as quickly as I can.

If I have to wait 5 years for a recovery I'll happily do so buying all along the way. I'm not alone...

Me too. If Bitcoin gets near $50-$100, I will buy in bulk.

Bitcoin today is more stable then many other currencies.

Bitcoin cannot be printed in bulk to masquerade huge debts and other problems.
Can be mined only slowly and in predictable quantity. USD and EUR can be printed infinitely. Increase money supply by 20% overnight? No problem. Government can dump tons of money to market when you do not expect it. They can even steal your money. Like bank "taxation" on Cyprus.

Bitcoin is bit less stable than major fiat currencies.

USD is held by military power, but Russia and China and India is growing stronger. Not defensible in the long term.
EUR has problems with weak and bankrupting countries (Greece, ...). Not stable in the long term.

USD and EUR may become less stable than Bitcoin soon. Then lot of people in USA and EU will prefer bitcoin over USD and EUR. Everybody wants bitcoin and not EUR or USD. Demand of bitcoin rises, price also.
Dependent on point of view, the bitcoin value would skyrocket, or EUR and USD value would plummet to the ground.
Same thing, just viewed diferently.
4  Alternate cryptocurrencies / Altcoin Discussion / Re: Which coins are worth to invest short and long-term? on: January 26, 2014, 10:10:54 PM
There is risk of people giving hints of not good coin but coin that they own and want to pump up.
You should verify any advice you get here.

Personally I recommend:
KDC, USDE (on exchange, some growth recently, solid devs, but unsure how much more growth in short term)
these may be good for long term (good potential), but for short term price may fall a bit (price up a bit last week, may approach local maximum)
short term - any new at least bit good coin not yet on exchange - SPICE or UFO coins may be worth considering.
very long term, low risk, not so high reward - BTC, just hold it.
5  Other / Off-topic / Re: For Free: My nice idea for Coin !!! on: January 21, 2014, 12:24:54 AM
Some coins already have a voting system.
Memorycoin has this system integrated in its wallet.
The weight of the vote depends on amount of the coins you have in the wallet.
Quite close to the idea you are proposing here.
6  Bitcoin / Mining speculation / Re: Block Errupter (Is it worth?) on: January 20, 2014, 10:17:51 PM
Not worth for mining bitcoin. If you sell them and buy bitcoin for the money, you will get more bitcoin that way.
May be still worth for mining some alternative coins based on sha256, same algorithm as bitcoin.
Those coins you cannot buy, they are too young, only mine. But it is a risk. These coins can earn much more profit than mining bitcoin if sold at right time. But they may more likely end up worthless.
7  Alternate cryptocurrencies / Altcoin Discussion / Re: [POLL] VOTE for NAME for COINYE = 1 VOTE PER USER. - READ BEFORE YOU VOTE!! on: January 20, 2014, 09:19:16 PM
What about leaving one letter out?
Like this:

Conye, with the shortcut CYE

It is different.
No lawsuit risk.
Looks better.
Pronuoncable better.

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