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I had a thought more miners today might be compelled to convert their coins to fiat in order to cover their substantial outlay, than say when mining was a few GPUs in a basement and one could "run the risk" of mining and holding. Since the stakes are now much higher financially, miner's will be less inclined to do this especially if they are on borrowed money, since lenders take fiat and interest waits for no man.
Much of the last wave of ASIC buying was during the euphoric rise from $600 to $1000+ and as margins become more and more thin taking what one can get to avoid the consequences of a further price draw down might be the smartest thing to do. Further price-action south turns many ASICs into Commodore 64s.
Thoughts?
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With Overstock taking bitcoin I was thinking that Amazon would be smart to buy Bitpay as a means to get into the payment processing business and try and give Ebay-PayPal a black eye. The HUGE problem that comes up is China's "ban" or at least very negative stance to bitcoin, prevents overstock or any online giant from using bitcoins to pay their suppliers, who of course will be largely Chinese.
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Is it possible to get a wire from say stamp or gox, sent to a third party in my name to a country I do not reside in?
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I got cygwin going and everything seems ok but when I type in "python goxtool.py" from the goxtool folder to launch the program there is a pause then nothing happens and I am returned to the prompt. Here is a dump of "python -v goxtool.py". Thanks to anyone who can help, program looks cool. byron@byron-PC ~/goxtool
$ python -v goxtool.py
# installing zipimport hook
import zipimport # builtin
# installed zipimport hook
# /usr/lib/python2.7/site.pyc matches /usr/lib/python2.7/site.py
import site # precompiled from /usr/lib/python2.7/site.pyc
# /usr/lib/python2.7/os.pyc matches /usr/lib/python2.7/os.py
import os # precompiled from /usr/lib/python2.7/os.pyc
import errno # builtin
import posix # builtin
# /usr/lib/python2.7/posixpath.pyc matches /usr/lib/python2.7/posixpath.py
import posixpath # precompiled from /usr/lib/python2.7/posixpath.pyc
# /usr/lib/python2.7/stat.pyc matches /usr/lib/python2.7/stat.py
import stat # precompiled from /usr/lib/python2.7/stat.pyc
# /usr/lib/python2.7/genericpath.pyc matches /usr/lib/python2.7/genericpath.py
import genericpath # precompiled from /usr/lib/python2.7/genericpath.pyc
# /usr/lib/python2.7/warnings.pyc matches /usr/lib/python2.7/warnings.py
import warnings # precompiled from /usr/lib/python2.7/warnings.pyc
# /usr/lib/python2.7/linecache.pyc matches /usr/lib/python2.7/linecache.py
import linecache # precompiled from /usr/lib/python2.7/linecache.pyc
# /usr/lib/python2.7/types.pyc matches /usr/lib/python2.7/types.py
import types # precompiled from /usr/lib/python2.7/types.pyc
# /usr/lib/python2.7/UserDict.pyc matches /usr/lib/python2.7/UserDict.py
import UserDict # precompiled from /usr/lib/python2.7/UserDict.pyc
# /usr/lib/python2.7/_abcoll.pyc matches /usr/lib/python2.7/_abcoll.py
import _abcoll # precompiled from /usr/lib/python2.7/_abcoll.pyc
# /usr/lib/python2.7/abc.pyc matches /usr/lib/python2.7/abc.py
import abc # precompiled from /usr/lib/python2.7/abc.pyc
# /usr/lib/python2.7/_weakrefset.pyc matches /usr/lib/python2.7/_weakrefset.py
import _weakrefset # precompiled from /usr/lib/python2.7/_weakrefset.pyc
import _weakref # builtin
# /usr/lib/python2.7/copy_reg.pyc matches /usr/lib/python2.7/copy_reg.py
import copy_reg # precompiled from /usr/lib/python2.7/copy_reg.pyc
# /usr/lib/python2.7/traceback.pyc matches /usr/lib/python2.7/traceback.py
import traceback # precompiled from /usr/lib/python2.7/traceback.pyc
# /usr/lib/python2.7/sysconfig.pyc matches /usr/lib/python2.7/sysconfig.py
import sysconfig # precompiled from /usr/lib/python2.7/sysconfig.pyc
# /usr/lib/python2.7/re.pyc matches /usr/lib/python2.7/re.py
import re # precompiled from /usr/lib/python2.7/re.pyc
# /usr/lib/python2.7/sre_compile.pyc matches /usr/lib/python2.7/sre_compile.py
import sre_compile # precompiled from /usr/lib/python2.7/sre_compile.pyc
import _sre # builtin
# /usr/lib/python2.7/sre_parse.pyc matches /usr/lib/python2.7/sre_parse.py
import sre_parse # precompiled from /usr/lib/python2.7/sre_parse.pyc
# /usr/lib/python2.7/sre_constants.pyc matches /usr/lib/python2.7/sre_constants. py
import sre_constants # precompiled from /usr/lib/python2.7/sre_constants.pyc
import encodings # directory /usr/lib/python2.7/encodings
# /usr/lib/python2.7/encodings/__init__.pyc matches /usr/lib/python2.7/encodings /__init__.py
import encodings # precompiled from /usr/lib/python2.7/encodings/__init__.pyc
# /usr/lib/python2.7/codecs.pyc matches /usr/lib/python2.7/codecs.py
import codecs # precompiled from /usr/lib/python2.7/codecs.pyc
import _codecs # builtin
# /usr/lib/python2.7/encodings/aliases.pyc matches /usr/lib/python2.7/encodings/ aliases.py
import encodings.aliases # precompiled from /usr/lib/python2.7/encodings/aliases .pyc
# /usr/lib/python2.7/encodings/utf_8.pyc matches /usr/lib/python2.7/encodings/ut f_8.py
import encodings.utf_8 # precompiled from /usr/lib/python2.7/encodings/utf_8.pyc
Python 2.7.3 (default, Mar 14 2013, 00:06:10)
[GCC 4.8.0 20130307 (experimental)] on cygwin
Type "help", "copyright", "credits" or "license" for more information.
# /usr/lib/python2.7/argparse.pyc matches /usr/lib/python2.7/argparse.py
import argparse # precompiled from /usr/lib/python2.7/argparse.pyc
# /usr/lib/python2.7/collections.pyc matches /usr/lib/python2.7/collections.py
import collections # precompiled from /usr/lib/python2.7/collections.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_collections.dll", 2);
import _collections # dynamically loaded from /usr/lib/python2.7/lib-dynload/_co llections.dll
dlopen("/usr/lib/python2.7/lib-dynload/operator.dll", 2);
import operator # dynamically loaded from /usr/lib/python2.7/lib-dynload/operato r.dll
# /usr/lib/python2.7/keyword.pyc matches /usr/lib/python2.7/keyword.py
import keyword # precompiled from /usr/lib/python2.7/keyword.pyc
# /usr/lib/python2.7/heapq.pyc matches /usr/lib/python2.7/heapq.py
import heapq # precompiled from /usr/lib/python2.7/heapq.pyc
dlopen("/usr/lib/python2.7/lib-dynload/itertools.dll", 2);
import itertools # dynamically loaded from /usr/lib/python2.7/lib-dynload/iterto ols.dll
# /usr/lib/python2.7/bisect.pyc matches /usr/lib/python2.7/bisect.py
import bisect # precompiled from /usr/lib/python2.7/bisect.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_bisect.dll", 2);
import _bisect # dynamically loaded from /usr/lib/python2.7/lib-dynload/_bisect. dll
dlopen("/usr/lib/python2.7/lib-dynload/_heapq.dll", 2);
import _heapq # dynamically loaded from /usr/lib/python2.7/lib-dynload/_heapq.dl l
import thread # builtin
# /usr/lib/python2.7/copy.pyc matches /usr/lib/python2.7/copy.py
import copy # precompiled from /usr/lib/python2.7/copy.pyc
# /usr/lib/python2.7/weakref.pyc matches /usr/lib/python2.7/weakref.py
import weakref # precompiled from /usr/lib/python2.7/weakref.pyc
# /usr/lib/python2.7/textwrap.pyc matches /usr/lib/python2.7/textwrap.py
import textwrap # precompiled from /usr/lib/python2.7/textwrap.pyc
# /usr/lib/python2.7/string.pyc matches /usr/lib/python2.7/string.py
import string # precompiled from /usr/lib/python2.7/string.pyc
dlopen("/usr/lib/python2.7/lib-dynload/strop.dll", 2);
import strop # dynamically loaded from /usr/lib/python2.7/lib-dynload/strop.dll
# /usr/lib/python2.7/gettext.pyc matches /usr/lib/python2.7/gettext.py
import gettext # precompiled from /usr/lib/python2.7/gettext.pyc
# /usr/lib/python2.7/locale.pyc matches /usr/lib/python2.7/locale.py
import locale # precompiled from /usr/lib/python2.7/locale.pyc
# /usr/lib/python2.7/functools.pyc matches /usr/lib/python2.7/functools.py
import functools # precompiled from /usr/lib/python2.7/functools.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_functools.dll", 2);
import _functools # dynamically loaded from /usr/lib/python2.7/lib-dynload/_func tools.dll
dlopen("/usr/lib/python2.7/lib-dynload/_locale.dll", 2);
import _locale # dynamically loaded from /usr/lib/python2.7/lib-dynload/_locale. dll
# /usr/lib/python2.7/struct.pyc matches /usr/lib/python2.7/struct.py
import struct # precompiled from /usr/lib/python2.7/struct.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_struct.dll", 2);
import _struct # dynamically loaded from /usr/lib/python2.7/lib-dynload/_struct. dll
import curses # directory /usr/lib/python2.7/curses
# /usr/lib/python2.7/curses/__init__.pyc matches /usr/lib/python2.7/curses/__ini t__.py
import curses # precompiled from /usr/lib/python2.7/curses/__init__.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_curses.dll", 2);
import _curses # dynamically loaded from /usr/lib/python2.7/lib-dynload/_curses. dll
# /usr/lib/python2.7/curses/wrapper.pyc matches /usr/lib/python2.7/curses/wrappe r.py
import curses.wrapper # precompiled from /usr/lib/python2.7/curses/wrapper.pyc
# /usr/lib/python2.7/curses/panel.pyc matches /usr/lib/python2.7/curses/panel.py
import curses.panel # precompiled from /usr/lib/python2.7/curses/panel.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_curses_panel.dll", 2);
import _curses_panel # dynamically loaded from /usr/lib/python2.7/lib-dynload/_c urses_panel.dll
# /usr/lib/python2.7/curses/textpad.pyc matches /usr/lib/python2.7/curses/textpa d.py
import curses.textpad # precompiled from /usr/lib/python2.7/curses/textpad.pyc
# /usr/lib/python2.7/curses/ascii.pyc matches /usr/lib/python2.7/curses/ascii.py
import curses.ascii # precompiled from /usr/lib/python2.7/curses/ascii.pyc
# /home/byron/goxtool/goxapi.pyc matches /home/byron/goxtool/goxapi.py
import goxapi # precompiled from /home/byron/goxtool/goxapi.pyc
# /usr/lib/python2.7/ConfigParser.pyc matches /usr/lib/python2.7/ConfigParser.py
import ConfigParser # precompiled from /usr/lib/python2.7/ConfigParser.pyc
# /usr/lib/python2.7/base64.pyc matches /usr/lib/python2.7/base64.py
import base64 # precompiled from /usr/lib/python2.7/base64.pyc
dlopen("/usr/lib/python2.7/lib-dynload/binascii.dll", 2);
import binascii # dynamically loaded from /usr/lib/python2.7/lib-dynload/binasci i.dll
# /usr/lib/python2.7/contextlib.pyc matches /usr/lib/python2.7/contextlib.py
import contextlib # precompiled from /usr/lib/python2.7/contextlib.pyc
import Crypto # directory /usr/lib/python2.7/site-packages/Crypto
# /usr/lib/python2.7/site-packages/Crypto/__init__.pyc matches /usr/lib/python2. 7/site-packages/Crypto/__init__.py
import Crypto # precompiled from /usr/lib/python2.7/site-packages/Crypto/__init_ _.pyc
import Crypto.Cipher # directory /usr/lib/python2.7/site-packages/Crypto/Cipher
# /usr/lib/python2.7/site-packages/Crypto/Cipher/__init__.pyc matches /usr/lib/p ython2.7/site-packages/Crypto/Cipher/__init__.py
import Crypto.Cipher # precompiled from /usr/lib/python2.7/site-packages/Crypto/ Cipher/__init__.pyc
# /usr/lib/python2.7/site-packages/Crypto/Cipher/AES.pyc matches /usr/lib/python 2.7/site-packages/Crypto/Cipher/AES.py
import Crypto.Cipher.AES # precompiled from /usr/lib/python2.7/site-packages/Cry pto/Cipher/AES.pyc
# /usr/lib/python2.7/site-packages/Crypto/Cipher/blockalgo.pyc matches /usr/lib/ python2.7/site-packages/Crypto/Cipher/blockalgo.py
import Crypto.Cipher.blockalgo # precompiled from /usr/lib/python2.7/site-packag es/Crypto/Cipher/blockalgo.pyc
import Crypto.Util # directory /usr/lib/python2.7/site-packages/Crypto/Util
# /usr/lib/python2.7/site-packages/Crypto/Util/__init__.pyc matches /usr/lib/pyt hon2.7/site-packages/Crypto/Util/__init__.py
import Crypto.Util # precompiled from /usr/lib/python2.7/site-packages/Crypto/Ut il/__init__.pyc
# /usr/lib/python2.7/site-packages/Crypto/Util/py3compat.pyc matches /usr/lib/py thon2.7/site-packages/Crypto/Util/py3compat.py
import Crypto.Util.py3compat # precompiled from /usr/lib/python2.7/site-packages /Crypto/Util/py3compat.pyc
dlopen("/usr/lib/python2.7/site-packages/Crypto/Cipher/_AES.dll", 2);
import Crypto.Cipher._AES # dynamically loaded from /usr/lib/python2.7/site-pack ages/Crypto/Cipher/_AES.dll
# /usr/lib/python2.7/getpass.pyc matches /usr/lib/python2.7/getpass.py
import getpass # precompiled from /usr/lib/python2.7/getpass.pyc
dlopen("/usr/lib/python2.7/lib-dynload/termios.dll", 2);
import termios # dynamically loaded from /usr/lib/python2.7/lib-dynload/termios. dll
# /usr/lib/python2.7/gzip.pyc matches /usr/lib/python2.7/gzip.py
import gzip # precompiled from /usr/lib/python2.7/gzip.pyc
dlopen("/usr/lib/python2.7/lib-dynload/time.dll", 2);
import time # dynamically loaded from /usr/lib/python2.7/lib-dynload/time.dll
dlopen("/usr/lib/python2.7/lib-dynload/zlib.dll", 2);
import zlib # dynamically loaded from /usr/lib/python2.7/lib-dynload/zlib.dll
# /usr/lib/python2.7/io.pyc matches /usr/lib/python2.7/io.py
import io # precompiled from /usr/lib/python2.7/io.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_io.dll", 2);
import _io # dynamically loaded from /usr/lib/python2.7/lib-dynload/_io.dll
# /usr/lib/python2.7/hashlib.pyc matches /usr/lib/python2.7/hashlib.py
import hashlib # precompiled from /usr/lib/python2.7/hashlib.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_hashlib.dll", 2);
import _hashlib # dynamically loaded from /usr/lib/python2.7/lib-dynload/_hashli b.dll
# /usr/lib/python2.7/hmac.pyc matches /usr/lib/python2.7/hmac.py
import hmac # precompiled from /usr/lib/python2.7/hmac.pyc
# /usr/lib/python2.7/inspect.pyc matches /usr/lib/python2.7/inspect.py
import inspect # precompiled from /usr/lib/python2.7/inspect.pyc
# /usr/lib/python2.7/dis.pyc matches /usr/lib/python2.7/dis.py
import dis # precompiled from /usr/lib/python2.7/dis.pyc
# /usr/lib/python2.7/opcode.pyc matches /usr/lib/python2.7/opcode.py
import opcode # precompiled from /usr/lib/python2.7/opcode.pyc
import imp # builtin
# /usr/lib/python2.7/tokenize.pyc matches /usr/lib/python2.7/tokenize.py
import tokenize # precompiled from /usr/lib/python2.7/tokenize.pyc
# /usr/lib/python2.7/token.pyc matches /usr/lib/python2.7/token.py
import token # precompiled from /usr/lib/python2.7/token.pyc
import json # directory /usr/lib/python2.7/json
# /usr/lib/python2.7/json/__init__.pyc matches /usr/lib/python2.7/json/__init__. py
import json # precompiled from /usr/lib/python2.7/json/__init__.pyc
# /usr/lib/python2.7/json/decoder.pyc matches /usr/lib/python2.7/json/decoder.py
import json.decoder # precompiled from /usr/lib/python2.7/json/decoder.pyc
# /usr/lib/python2.7/json/scanner.pyc matches /usr/lib/python2.7/json/scanner.py
import json.scanner # precompiled from /usr/lib/python2.7/json/scanner.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_json.dll", 2);
import _json # dynamically loaded from /usr/lib/python2.7/lib-dynload/_json.dll
# /usr/lib/python2.7/encodings/hex_codec.pyc matches /usr/lib/python2.7/encoding s/hex_codec.py
import encodings.hex_codec # precompiled from /usr/lib/python2.7/encodings/hex_c odec.pyc
# /usr/lib/python2.7/json/encoder.pyc matches /usr/lib/python2.7/json/encoder.py
import json.encoder # precompiled from /usr/lib/python2.7/json/encoder.pyc
import logging # directory /usr/lib/python2.7/logging
# /usr/lib/python2.7/logging/__init__.pyc matches /usr/lib/python2.7/logging/__i nit__.py
import logging # precompiled from /usr/lib/python2.7/logging/__init__.pyc
dlopen("/usr/lib/python2.7/lib-dynload/cStringIO.dll", 2);
import cStringIO # dynamically loaded from /usr/lib/python2.7/lib-dynload/cStrin gIO.dll
# /usr/lib/python2.7/threading.pyc matches /usr/lib/python2.7/threading.py
import threading # precompiled from /usr/lib/python2.7/threading.pyc
# /usr/lib/python2.7/atexit.pyc matches /usr/lib/python2.7/atexit.py
import atexit # precompiled from /usr/lib/python2.7/atexit.pyc
# /usr/lib/python2.7/Queue.pyc matches /usr/lib/python2.7/Queue.py
import Queue # precompiled from /usr/lib/python2.7/Queue.pyc
# /usr/lib/python2.7/urllib2.pyc matches /usr/lib/python2.7/urllib2.py
import urllib2 # precompiled from /usr/lib/python2.7/urllib2.pyc
# /usr/lib/python2.7/httplib.pyc matches /usr/lib/python2.7/httplib.py
import httplib # precompiled from /usr/lib/python2.7/httplib.pyc
dlopen("/usr/lib/python2.7/lib-dynload/array.dll", 2);
import array # dynamically loaded from /usr/lib/python2.7/lib-dynload/array.dll
# /usr/lib/python2.7/socket.pyc matches /usr/lib/python2.7/socket.py
import socket # precompiled from /usr/lib/python2.7/socket.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_socket.dll", 2);
import _socket # dynamically loaded from /usr/lib/python2.7/lib-dynload/_socket. dll
dlopen("/usr/lib/python2.7/lib-dynload/_ssl.dll", 2);
import _ssl # dynamically loaded from /usr/lib/python2.7/lib-dynload/_ssl.dll
# /usr/lib/python2.7/urlparse.pyc matches /usr/lib/python2.7/urlparse.py
import urlparse # precompiled from /usr/lib/python2.7/urlparse.pyc
# /usr/lib/python2.7/mimetools.pyc matches /usr/lib/python2.7/mimetools.py
import mimetools # precompiled from /usr/lib/python2.7/mimetools.pyc
# /usr/lib/python2.7/tempfile.pyc matches /usr/lib/python2.7/tempfile.py
import tempfile # precompiled from /usr/lib/python2.7/tempfile.pyc
# /usr/lib/python2.7/random.pyc matches /usr/lib/python2.7/random.py
import random # precompiled from /usr/lib/python2.7/random.pyc
# /usr/lib/python2.7/__future__.pyc matches /usr/lib/python2.7/__future__.py
import __future__ # precompiled from /usr/lib/python2.7/__future__.pyc
dlopen("/usr/lib/python2.7/lib-dynload/math.dll", 2);
import math # dynamically loaded from /usr/lib/python2.7/lib-dynload/math.dll
dlopen("/usr/lib/python2.7/lib-dynload/_random.dll", 2);
import _random # dynamically loaded from /usr/lib/python2.7/lib-dynload/_random. dll
dlopen("/usr/lib/python2.7/lib-dynload/fcntl.dll", 2);
import fcntl # dynamically loaded from /usr/lib/python2.7/lib-dynload/fcntl.dll
# /usr/lib/python2.7/rfc822.pyc matches /usr/lib/python2.7/rfc822.py
import rfc822 # precompiled from /usr/lib/python2.7/rfc822.pyc
# /usr/lib/python2.7/ssl.pyc matches /usr/lib/python2.7/ssl.py
import ssl # precompiled from /usr/lib/python2.7/ssl.pyc
# /usr/lib/python2.7/urllib.pyc matches /usr/lib/python2.7/urllib.py
import urllib # precompiled from /usr/lib/python2.7/urllib.pyc
# /home/byron/goxtool/websocket.pyc matches /home/byron/goxtool/websocket.py
import websocket # precompiled from /home/byron/goxtool/websocket.pyc
# /usr/lib/python2.7/uuid.pyc matches /usr/lib/python2.7/uuid.py
import uuid # precompiled from /usr/lib/python2.7/uuid.pyc
import ctypes # directory /usr/lib/python2.7/ctypes
# /usr/lib/python2.7/ctypes/__init__.pyc matches /usr/lib/python2.7/ctypes/__ini t__.py
import ctypes # precompiled from /usr/lib/python2.7/ctypes/__init__.pyc
dlopen("/usr/lib/python2.7/lib-dynload/_ctypes.dll", 2);
import _ctypes # dynamically loaded from /usr/lib/python2.7/lib-dynload/_ctypes. dll
# /usr/lib/python2.7/ctypes/_endian.pyc matches /usr/lib/python2.7/ctypes/_endia n.py
import ctypes._endian # precompiled from /usr/lib/python2.7/ctypes/_endian.pyc
# /usr/lib/python2.7/ctypes/util.pyc matches /usr/lib/python2.7/ctypes/util.py
import ctypes.util # precompiled from /usr/lib/python2.7/ctypes/util.pyc
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...and you paid for your miner with now expensive coins, do you buy back those bitcoins with fiat, to effectively pay less for your miner?
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In somewhat of a confusing loop, the only real force on the bitcoin market-place, outside of evil speculation and drug addicted nerds, is the dynamic between mining and the price. A LOT of money is being pumped into buying mining rigs. With Avalon selling bulk chips and ASICMiner unloading tons of Block Eruptors and blade rigs, bitcoins are moving into the hands of a few, who, either need to convert those coins to fiat to pay their suppliers, or their suppliers need to do so (you can't buy carrots with bitcoins). Anyways, this could REALLY hammer the price in the next few months now that I think about it. There must be a point where miner suppliers holding coins as investment, are forced to sell to not lose money, I wonder what that is? Panic waterfall??
Past this influx of coins coming to market to be made fiat, comes the generation of new coins by these new miners themselves. They slowly regain their outlay until they breach an ROI breakeven. Weirdly, as the price depresses this timeline becomes longer but the difficulty gets higher. On the flip side, if you paid for your miner at $120 a coin and you see the price dropping you should be buying coins to replace that which you paid for your miner to lower it's cost to you.
All in all, at the present moment, the mining-price dynamic probably has the greatest impact on the exchange rate in terms of money flow, and I welcome comments on this confusing subject.
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Anyone have a pool where mining on it is basically -ev but the payouts for even low MH miners can be high?? Not sure how pools work really but if my imagination is correct miners of a pool can work to create a "share". What if the closer your last share was to the pool solving a block, the higher your "jackpot" payout? You could reward miners like they do with a poker tournament. Perhaps this wouldnt be -ev unless you were CPU/GPU mining vs a massive diff, but I do think there are people willing to spend electricity to have a chance at winning a lottery.
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Asking $105 in btc. byron3401 on ebay. Can do it through ebay if you wanted. |
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So now that ASIC is proven to be real, will their be a steady increase in ASIC efficiency with new products, or will ASIC be eclipsed by a newer, faster 4 letter chip in a year or two?
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I ordered a magazine from the uk for my girlfriend and part of the deal was this gift voucher of 60GBP discount off 95.88GBP purchase of wine from nakedwines.com. Since I am from Canada I can't use it so anyone in the UK wanting this please put up an offer.  |
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Never seen much talk about bitcoin's little brother. For me the only way Litecoin goes anywhere is if it can be used to compliment bitcoin in some manner. So there would be a need for a transaction that was somehow a litecoin/bitcoin mix imo. The thought that litecoin is silver to bitcoin gold is incorrect. Silver and gold are two different elements and each has their specific uses; silver of course being very much an industrial metal. There is no such distinction between litecoin and bitcoin. Both are crypto-"currencies", with slightly different rules, and bitcoin has 99% of the marketshare.
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Bear:
People selling coins to pay for christmas.
People have less disposable cash to buy bitcoins.
ASIC miners sell to recoup $$$ locked up for months/on credit.
Bull:
People buy drugs for new years.
Wordpress hype wave.
Bitcoin is going to be the internet's "money".
Opinions?
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I came across this today. Kilowatt Cards: a store-of-value and a medium-of-exchange Kilowatt Cards are gift cards that pay for 10 kilowatt-hours of electricity (including taxes and fees) to benefit any consumer electricity account when redeemed though this web site. The electric utility does not accept Kilowatt Cards - we do - and then send cash payment to the company at the rate it normally charges retail customers for electricity. Because these gift cards may be redeemed by anyone to pay for electricity, they can also be used to barter for other things, anything, worldwide. Kilowatt Cards are issued by a non-profit corporation founded to demonstrate the idea that financial liabilites denoted in kilowatt-hours constitue a new asset class having stable value, and to provide fixed-value paper to those who want it. http://www.kilowattcards.com/template/index.cfmNow I am imagining an alternative crypto-currency that allows people in low kwh areas to effectively sell their kwh through mining a coin and selling them to someone where their costs are high who then can redeem it for their electricity payment. Make any sense?? |
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Why in gods name do people borrow coins at rates in a stratosphere beyond that offered by even borderline criminal fiat lenders? Ie why not borrow at 19% A YEAR off credit card, deposit at an exchange, buy bitcoins, lose it martingaling satoshidice?
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