I vaguely remember seeing this thread earlier in December, but I quickly dismissed and ignored and missed out on some interesting discussion. I'm glad it got a little play today and that I was able to catch up. I'm simply posting in here to make it easier for me to come back here and re-read this stuff every time I make a few winning trades and my ego needs a little reality check. This experience taught me so much about bitcoin, and more importantly about myself, what my greed and fear looked like, how they affected me. Why I did the things I did. ^this^ part especially speaks to me. I'm still trying to understand the *why* of the actions I take, but I am starting to understand why I feel so anxious when the price is going up and why I feel calm when it's crashing. This recent revelation about myself has allowed me to now solidify a position that I feel comfortable with moving forward (as long as we don't break through $4000 range before May - In which case, I'm sure the anxiety attacks will resume, though I hope I will be better equipped to rationally analyze the reasons for my feelings and be able to adjust my position accordingly) --as to the OP question, I actually did sell. and I went through a swirling range of emotions that caused me to buy back in at 850, sell again at 950-999 range, and then I was lucky enough to get those coins back through a tranche from 800 all the way down to 450. That wasn't smart, educated, or well-advised. It was an emotionally driven series of moves made through panic and fear that caused me real-life physical and emotional distress. This time I was lucky. I will not be doing that again. I trade most effectively from a state of equanimity. I no longer try to sell all and buy everything back later at a lower price. The emotional swings start to kick in and stupid decisions are made. Been there, done that ... many times over. Doesn't matter what market - equities, futures, currencies or Bitcoin. What I've learnt is that if I can't remain cool, unemotional, detached, then I need to just stay out of the trade. |
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What exactly were you doing to get your accounts closed? Too many cash deposits? Out of state deposits? Can anyone suggest a U.S. bank that they have good experiences with, regarding bitcoin?
I have had good luck with a new TD Bank account for cash transactions from localbitcoins. But then again, I've also had good luck with Chase and Wells Fargo, the only difference being that those were well established accounts. Edit: FinCEN and other govt. agencies have published guidelines (intended for banking compliance) on how to detect money laundering and transaction structuring patterns. You should read these so as to understand what kind of triggers the banks might have put in place ... and to avoid tripping them. |
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Why would you not want to work? Working, and having your own business especially, is great.
+1 Working gives you a purpose in life. Not everyone hates their job. I guess some people just have a slave mentality. It's weird. For me the question is why would you want to. Better to do what you want, and then it's a hobby even if you get paid for it. But even for people who like to work, surely it would still be better to be able to decide that you don't need this job. Most people don't have even that kind of luxury. +1 There is a difference between "having to go to work" and "not having to go to work". Some people who have shitloads of cash want a simple yet nice/fun job which has no stress. Having your own company might seem nice but can be very stressful and probably won't be fun for everyone and especially if your not good at it. imo luxury is "not having to work" Man, I like to work. I guess I am too stupid to understand the concept of Living on Easy Street. Seriously speaking, though, work should not be your only purpose in life. I've observed that people who are truly happy have several different purposes in life. Not too many so as to lose focus, but certainly more than one. They are always filling their time doing things that they consider are worthwhile to them. |
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well my jurisdiction....the util company will cut off power but will not turn on power again unless all panel work is done by licensed electrican and inspected also before power is resumed..so you have to have the electrician do it..and the inspector there later in the day..or you get no power back..also to go from 100amp to 200amp it is 2.5k for both the util to do this the inspector and the electrican to swap the panel etc ..this is in Minnesota...so no easy out for me (also in town may have had better luck if just dealing out in the county)
In my jurisdiction 2.5k is probably what you'd need to slip under the table to the inspector to get him to show up on the same day. It was much easier for me to lease a small warehouse that happened to be pre-wired with 600 Amp service. |
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PLEASE USE A ROUTER INSTEAD OF DIRECT INTERNET ACCESS !!!
It also goes without saying that you should not use port forwarding direct to the miner (for remote access) when using a router. I have heard of some people doing this. Best to use some kind of intermediate jump box that can be locked down more securely than the beagle bone. |
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You write a transport protocol wrapper that makes Bitcoin traffic look like Xbox Live traffic, or something like that.
Or like one of the many proprietary encrypted protocols out there used in financial services, e.g. Bloomberg Anywhere. |
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Keynesians/socialists do not understand progress. Their ideal world would have all innovators and people who bring the economy forward just stop and allow the workers to just keep doing what they are currently doing and share the wealth instead of the wealth going toward moving forward.
They pray that new technology fails to achieve their goal of everyone living in a stagnant world so that their economics can finally work.
It does seem that way. It is almost as though they don't realize that innovators constantly creating wealth out of thin air are what's keeping the current inflationary system from collapsing under its own weight. |
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In most of the free world, it would be difficult for governments to shutdown P2P trading without passing draconian laws that the general population would find hard to accept. I am sure that some people in government are thinking of ways to do this at this very moment.
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I had 23Ghs fail over from BTC Guild without being banned.
Hmmm ... might have something to do with the miner in the blade firmware not playing nice with its getwork requests. |
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Tried to run a 13 GH/s ASICMINER blade on deepbit for old time's sake. Managed to submit 23 shares before my IP was banned for DDOS?  The blade had already been decommissioned and was destined for the scrap heap, but apparently it was still too powerful for deepbit. |
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ANOTHER FIRE HAZARD WARNING:
One of my 16-card October kits that came calibrated at 0.865 V started to melt/burn at the PSU. It is a Seasonic Platinum 860W connected to the M-board using the standard 2 PCI-e power connector setup. It had been running fine for over a month at 620W and then suddenly I started smelling smoke coming from part where the modular connectors plug into the PSU.
Fortunately, it happened while I was in the room so I managed to shut it down before anything serious happened. 2 PCI-e modular ports on the PSU were melted and no longer usable. However, I managed to repair the rig using the other unused PSU ports. I now have it running with 2 x PCI-e cables AND a jerry rigged CPU 12V cable going to the ring terminals.
I also brought the voltage for all the cards down to 0.83 V. The loss in GH/s was minimal (the setup runs at 540 GH/s now) but I sleep much better.
Note: This is not the first time I've had a high-end modular PSU burn out at the modular connectors.
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Or localbitcoins.com :-)
Yes, I don't understand why everyday someone comes up with a proposal for some BTC-cash exchange mechanism that has already been (more or less) solved by localbitcoins.com. Why the resistance to using localbitcoins? |
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Yes in this case you could say gold the perfect money for spending and saving for an individual but its not good for a society. If you look back on thousands of years of goldmoney , gold was hoarded and the majority of people were piss poor. It doesnt flow well. Inflationary money ( not synonymous with central bank criminal monopoly money ) does flow much better. It create constant flow of money and economic activity. Bitcoin has would be fine money I suppose if they were to spend it and not buy it in the hopes they can later exchange it for more fiat. Off Topic : Money experiment in early 20th century in austria that gave incentive to spend instead to save and created prosperity in the midst of a depression and subsequently shut down by bankers : http://en.wikipedia.org/wiki/Freigeld . What I am really looking for is a lossless store of value that does not degrade over time. I want to store a unit of work that I produce today, and at some point in the distant future exchange its value for the same amount of goods or services that I would have gotten if I had I made the exchange tomorrow. I want to hoard the rewards of my labor, so that I can spend it during my retirement years or give some to my heirs. Bitcoin gives me that and more. |
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I don't think the current block size is ready to handle the transactions for all washer/dryers in the world. Probably a better idea to use BTC to reload your laundromat card balance.
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Ok, sorry if this has been asked a ton before...but what is a ballpark Difficulty estimate for May???
Between 10-15 billion if the difficulty continue to increase at this pace. At 1 Watt per GH/s that is about 60-100 Megawatts of electricity powering mining hardware. The output of a small power plant. |
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A lot of other things in the world would be more critically impacted than Bitcoin if SHA-256 were broken. Finding some random preimage of a SHA-256 hash is just one of the many steps needed in order to do a double spend. However, it is probably the only step needed to break into bank accounts if you already had a DB dump of userids and hashed passwords. Guess which one a crook would rather do?
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I am not sure whether he is a scammer or not, but I would not trust anyone who fell for the Liquid Nitrogen Overclocking scam to manage an ASIC project himself. Maybe in time he will prove himself, but not with my money.
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E-Gold is different, it was pseudonymous and was used by cyber crminials, DDoSers, pay to hack servers, drugs..
0h
I had an e-Gold account with funds in it that was seized. I filed a claim and the govt. eventually agreed that all my e-gold was legit and figured out an amount in USD that should be refunded to me based on the price of gold at a certain point in time. In fact, in a report released by Rust Consulting (the claims administrator appointed by the government) they conceded that most of the money stored in e-Gold turned out to be legitimate funds. A couple of months ago they asked for a bank account to which they can wire the money back to me. I have not yet received the money but hopefully I will get it soon. |
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Works for me too. I sell a lot to people using methods like BofA instant transfer. The caveat is that you must trust the buyer and make sure he is not someone who is paying you with a stolen bank account. |
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Aren't bitcoins the main currency in deepweb market places? It's probably so they could buy things with more anonymity on deepweb market places.
Silk Road wasn't around yet when BTC was at that price. Besides, what can you buy for $1? |
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