All i know is that according to their TOS, it's against the rules and they can freeze accounts for buying/selling/trading e-Currencies.
I wish you luck in using paypal to buy/sell/trade, but as for me, I wont use my main paypal for that. I would have to make a second paypal just for that just in case they froze it.

This is a valid point, but the user who operates the machinery would ultimately be the one who sent the money. On top of that there would be a simple way to solve this, everyone can see the transaction history of a specific bitcoin address using Blockchains at:
https://blockchain.info/address/<WalletAddress> and thus if the owner of the machines tried to cheat everybody out of their money, it would be known immediately and visible to everyone because it would appear in the blockchain transaction history.

Also, everyone would be able to see the addresses of everyone else and how many shares that person owns to confirm they were all paid equally (by cross referencing the blockchain history with the number of shares owned and the wallet addresses)

As an online merchant that operates heavily through paypal I can say that when you receive a chargeback on an intangible item, the merchant always wins due to the fact that paypal does not charge against intangible items.

That being said, a charge back on anything bitcoin related would not end the same way. Yes, bitcoins are an intangible item, but paypal does not like other e-Currencies and views them as competition. Thus any attempts to buy/sell e-Currencies can result in your paypal account being frozen/shut down.

So he is right that intangible items are an instant win for the merchant, paypal will still shut down/freeze both accounts for a violation of their Terms of Service.

I was curious if anyone was interested in doing a simple investment.

The market is changing and people who are pulling little Mh/s and small Gh/s simple are going to get cut out. So why not team together? We all know what pool mining it, but let's take it a step further.

The idea is simple: an investor sends money along with the bitcoin address to pay the bitcoins out to, the investor receives a percent of the total investment owned, the person who money was sent to buys a large mining rig better than most others, mining rig is received to the person who the money was sent to, the person sets up the mining rig and begins mining. Every two weeks the money is calculated like such:
(TotalBitCoinsEarned * .925)/1000 = PriceToPayPerShare
PriceToPayPerShare *  TotalSharesOwned = TotalBitCoinsWeOweYou

So let me explain that, TotalBitCoinsEarned is the TotalBitCoinsEarned in the 2 week period. That number is multiplied by .925 to remove 7.5% to pay for electricity and hassle on the end of the person who received the money originally and processes the funds. So thus at that point we're left with the money to disperse to the investors. We then divide that number by 1000 to calculate the total number of earnings per share.

So, let's say you own 50 shares and we make 10 bitcoins in 2 weeks:
(10 * .925)/1000 = X
9.25/1000 = X
0.00925 = X

X * 50 = Z
Z = 0.4625

That's 58.78 dollars (USD) on the price of $127.1 per bitcoin.

So let's say each share is $24.
You buy 100 shares.
You've invested $2400.
With your $2400 and shares from other people, we buy 8 TH/s worth of power.
The difficulty has exactly doubled and is now at: 225,257,098
Bitcoins are trading at: $131.57 (USD)

We would be able to mine ~17.861 BTC per day.
Based on that (17.861 * 14) would be 250.054 BTC.
This would mean we make 250.054 BTC in 2 weeks.
Now we take 250.054 * .925 to factor out 7.5% for power and hassle.
And we're left with 231.29995 BTC in profits.
Divide that by 1000 to get 0.23129995 as the price per share.
Multiply that by 100 due to your total number of shares and get 23.129995 BTC
You would be sent 23.129995 BTC which in USD is $3043.21 at the rate of $131.57.

This is a theoretical 2 week cycle using logical possible values. But based on that you would get your ROI + some in 2 weeks and you could continue to earn more every 2 weeks.


Just a thought. If anyone's interested in doing this sort of thing together, hmu.

Hi, I was wondering if there are any low cost USB hubs that transmit at least 500 mA's to each USB port.
Here are two equations it needs to meet:
TotalPrice/NumberOfPorts <= 5
TotalAmpsOfPower/NumberOfPorts >= .5

Basically this is saying the price per port should be under $5.00 and the total amps of power for each port should be 500 mA. I would also prefer if ALL port were data-transfer ready not 9 transfer ports and 1 power port.

I know this is very picky, but thanks in advance for any and all suggestions.

It's useless to use these kinds of set-ups for anything except Scrypt-coin mining (ie. Litecoin, fastcoin, worldcoin, etc.) because for SHA-256 mining (bitcoin, trc, zet, etc.) ASICs have been developed which make gpu's kind of useless. This is due to the fact that a gpu uses a lot more power than an ASIC. Gpu's can generate as much or more power than some asics, but they use a LOT more power and thus, even if you have to buy 2 asics, asics are a better solution for mining SHA-256 currencies. That being said, asics are typically cheaper as well if you get them from the right place. For example block erupters (336 MH/s that plug into your usb drive are VERY cheap). I've actually thrown together 12 block erupters, 2 USB fans & 2 power strips for mining which should output 4032 MH/s (4.032 GH/s) for a little over $300. This should only take a week to arrive which makes it much better than a BFL Jalapeno because the Jalapeno (although it produces 5 GH/s for $274) takes MONTHS to arrive and some people have been waiting since last year.

So, to pull out the important details from that winded reply, gpu's are really only prefered for Scrypt mining. If you're going to be mining SHA-256 currencies, ASICs are your best bet.

I'll take that as none exist? I was curious because I know BFL is supposedly shipping out a 600 in 2 months for pre-orders (laughed a little at that joke) and in december there's a 2 TH/s one coming out. So you would think there would already be a 500 GH/s+ ASIC which can be shipped out readily within a month. Back to ordering block erupters in bulk...

Hi, I was wondering what ALL the 500 GH/s and above miners are. Preferably some that can be shipped out today (not cointerra's unreleased stuff or stuff with BFL's "let's ship this 14 months after the order" policy). ASICs that can be shipped within 1 month of the order that mine above 500 GH/s.

Thanks in advance.

Yeah that was my mistake the first time haha. Probably better to use 1 fan for each set of 6.

I'm actually looking at this:
http://www.amazon.com/JETION-Ports-Multi-Expansion-Splitter/dp/B009VRKPR6/ref=sr_1_51?s=pc&ie=UTF8&qid=1379224969&sr=1-51&keywords=hub

It pushes 500 mA to every port. So with 12 Block Erupters i could fill it and on the last 1 put a fan + $23.99 which means the Price per Mineable-Port is ~$3.43 vs. ~$6.67 for the anker.

I actually will probably be mining ZET coins (an alternate SHA-256 Cryptocurrency) because the Block Erupters can be used on those and supposedly ZET coins are more profitable to mine.

Planned on it, but I was doing a very quick check on how it runs on CGMiner as I'm currently finishing up adding a bunch of stuff to my amazon order (USB hubs and stuff) which includes 12 Block Erupters aka 3.96 GH/s - 4.032 GH/s.

I'd prefer this because the Price per Mineable-Port is lower:
http://www.amazon.com/JETION-Ports-Multi-Expansion-Splitter/dp/B009VRKPR6/ref=sr_1_51?s=pc&ie=UTF8&qid=1379224969&sr=1-51&keywords=hub

I mind you I will not be using every port for mining, but the price is still better than spending $120 for 20 ports (18 of which are mineable) when I can spend $48 for 14 mineable ports and put a fan on 2 of them and still have 12 ports left over which is perfect for the 12 block erupters I already planned on ordering

Oh and Spathi, I will not be running PI instead I'll simply be installing the device driver and using that through my pc.

I'm having 1 problem getting started mining ZET coins. When I run CGMiner, this is what happens:


Can anyone be of assistance?

Perfect because I was looking at mining ZET already.

If you don't mind, in your opinion what is the best alternate SHA-256 coin to mine? What consistently shows high conversion values and high mining payoff? If you know, that is.

does https://coinex.pw/ handle PPC?

Are there other SHA-256 currencies which are used online and are fairly well established? If so, what are they? And, I believe the answer to this is yes, can a "Bitcoin ASIC" be used to mine these currencies?

I don't mean to burst your bubble but gpu mining isn't exactly out dated, but it kind of is. I say that because gpu's can process as fast as modern day asics, but an asic uses less power and usually most asics are faster than a gpu as well as easier to use.

I wouldn't mind seeing $300 once I have more bitcoins haha

Perfect as that's already the fan i had in my car haha

This is my cart currently: