All that negative hysteria which has lead to Bitcoin breaking its all-time high? Sounds like it's not working very well.

This is how I want my healthcare to be. I will pay my doctor $25 a month (or whatever the cost is) for every month that I am not sick with a terrible disease (colds or small food poisoning don't count). Thus, the entire system is not based on them getting paid for me being sick or dead, but they only get paid if I am healthy and alive.

That would be a great free-market solution that would massively change the incentive structure for healthcare.

bump?

I buy at least one board game a year for Christmas (you know, being home a bunch) and am looking for some good recommendations to add to my list.

I am in the Bitcoin boat mostly because banks and governments would never do this.

It was very surprising to me, but it made national news.

Also, It tends to be female readers while males just watch to "get it done quickly". Thus you watch porn, but you read erotica. Porn is degrading to women. Read porn is considered erotica which is empowering rather than denigrating. It makes all of the difference.

In fact, some porn that is watched and marketed toward women will be labeled erotica rather than porn. So it depends on the term I guess... Too complicated.

Bacon Action Figure

True Bacon Lovers ONLY

I was definitely NOT reading Bitcoin porn...

http://www.amazon.com/King-Bitcoin-Kayleen-Knight-ebook/dp/B00FI83AWY/ref=sr_1_1?ie=UTF8&qid=1382465898&sr=8-1&keywords=King+of+Bitcoin

I think it is more along the lines of, "I think the way to solve problems is not by using force and violence of the inefficient state welfare, but voluntary charity programs that help people who are in need and do not have other options.

I tend to be a fan of allowing people to disagree, even when it comes to things like charity. The state doesn't alalow disagreement as if I do not pay for your method of welfare and choose a different one that I think is 10x better, I get locked in a cage or shot for my disagreement.

Well, there I go off into an-cap land. Occasionally I have been in "Ultra-Anarchism" before and I am not sure what exactly I answer differently. No big deal though.

Ok, thanks everyone. I will probably just sell it and try to break even on the whole BFL debacle.

So what is a proper number range to look at?

So BFL is finally sending me my 60 GH/s miner and I am trying to calculate profitability to determine if I should sell it or if I should mine with it. I am using: http://www.bitcoinx.com/profit/

With the default settings, except wattage I bumped up to 400 Watts, Hash rate to 60 GH/s, cost of hardware to 1,500 and time frame to 12 months. I am getting a profit of just under 8k in the first year, but I must be missing something. The deal seems to be too good. Can someone tell me what I am missing?


Bitcoin difficulty: 112,628,549
Bitcoins per Block (BTC/block): 25.00
Conversion rate (USD/BTC): 130.16
Hash rate: 60 GH/s
Electricity rate (USD/kWh): 0.15
Power consumption (W): 450.00 (computer on some sort of inactive mode, while miner at 300+? dunno if this is accurate)
Time frame (months): 12
Cost of mining hardware (USD): 1500.00
Profitability decline per year: 0.61

Results

Difficulty:    112,628,549.00
Mining Factor 100 :   0.06 USD/24h@100MHash/s as in these charts
Average generation time for a block (solo):    93 days, 7 hours (can vary greatly depending on your luck)
Hardware break even:    47 days
Net profit first time frame :   7957.73 USD
Coins per 24h at these conditions :   0.2679 BTC
Power cost per 24h:    1.62 USD
Revenue per day:    34.87 USD
Less power costs:    33.25 USD
System efficiency :   133.33 MH/s/W
Mining Factor 100 at the end of the time frame:    0.04 USD/24h@100MHash/s
Average Mining Factor 100:    0.05 USD/24h@100MHash/s
Power cost per time frame:    591.70 USD
Revenue per time frame:    10049.43 USD
Less power costs:    9457.73 USD

Well that's awesome. So in order to protect myself, I invested in .1 bitcoin increments over many, many loans. Now I get settlements for around $10 equivalent and in order to enforce those in court I need to spend $35. Best plan ever.

I think there should be some way of lenders forgiving their portion of the loan- or part of their loan. This way, people can work out deals with individual lenders for lower amounts and then their portion of the loan can be forgiven. At such a point loans may be able to be paid back. Of course, this also would require the upcoming user to user messaging system. I would forgive some of my late loans or portions of the loans to get something back- especially if I'm up overall because of exchange rate. Obviously it should be a lender's choice to participate in this, and rating would be available if they do it. At least during such an exponential period this could be a possible feature.

I would like to work things out with borrowers, but I can't then remove the amount they owe me according to the system.

Depends on current/future value of those coins. At 100/BTC then maybe going north of 50-100 would require some paranoia. At some arbitrary future value of 100,000/BTC then .1 or .05 would require the same security  measures. Always hard to determine, but for me it is more a fun project to create a crazy intricate code/masterpiece to hide my coins rather than a practical cost/ risk analysis. I want to have fun and make something unusual.

When the government shuts down porn, you will get a lot of angry, angsty young men with a sudden amount of extra time on their hands.

I think there was a saying in Egypt that when the government shuts down the internet, its time to shut down the government.

I think if they were to shut down the internet, they would have to leave up only porn sites. In which case It could be some sort of dystopia where the people are placid watching porn while the government does whatever else they want.

The last option should be changed....