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Any one that jumps to namecoins now will be disappointed.
A lot of people have changed to them so the market will get flooded soon and there price will come right down while pushing bitcoins price up.
Who is going to dump namecoins when the new namecoin painful difficulty kicks in it will be months before the next difficulty drop because all these short term namecoin miners are going to switch back to bitcoin. No one will be mining so namecoins should go up up up  |
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This gentleman contacted me via IRC asking to purchase some bitcoins via paypal. After him listing some references, I said, sure, why not - and sold him 30. In the morning he filed the usual credit card chargeback scam - what can I say? After doing more research with his paypal address and various forum names I've concluded that he is a known scammer. Paypal's fraud department said they already had a case open for this Jordan. interesting.. All I can do now is provide you guys with some of this scammer's information. Name(s): Jordan Castro Sablan emails: jordansablan@rocketmail.com (paypal address - name is signed as Jordan Castro according to paypal), jordan.castro@gmail.comLocation: Fresno CA usernames: jordansablan six70 se7in kingbc Acclaimed information temporarily redacted pending resolution. A simple google search on his e-mail would have turned up similar paypal scams going back to February. |
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The only real effect a >50% attack can have is mucking up bitcoin. And it only lasts as long as the 50% remains in control of an attacker. A pool isn't going to have that for long."
Thanks for the education, damienblack. All that you've said makes sense for a group of miners who in the end are motivated by their own selfish interests (nothing wrong with that). But what if bitcoin were attacked by an adversary with unlimited resources (say the western banking establishment) and sustained the attack for an extended period? I think if a bank or large organization wanted to squash bitcoin it would be far easier and cheaper for them to disrupt mtgox. Anyone with enough coins can completely sabotage the price without even having to sell many coins. Keep that up long enough and bitcoin will falter. No need to attack the protocol, simply put huge stacks up and work the market down. |
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Anyone notice how close deepbit is to going 51%?  All right, you made the thread, I don't think I fully understand, please explain why DeepBit taking the 51% could or will mess things up? Will they have somehow more so control at that 51% over all of mining somehow? Aliens? I really don't know. Indeed I did make a thread, though I did not notice the security breach thread or else I would not have. I assume you don't need the lengthy security explanation Hero Member. Moderators feel free to kill the thread. |
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Anyone notice how close deepbit is to going 51%? |
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It is my professional opinion that bitcoin prices are being systematically walked down by a miner or an early adapter. I am not so concerned by the reckless sells of large chunks of coins as I am about that being followed by the placement of large amount of coins to hold the price down and discourage new money. I am having a difficult time imagining what they hope to gain by this effort. This person is clearly not thinking economically. If bitcoin prices approach $10, there will be a panic sale taking the prices to $2-$3. From here it will take a year or more for bitcoin to recover, if at all. The individual that is selling large amounts of coins in single chunks then placing large amounts of coins in very obvious ceiling positions is causing new investors of high net worth to take pause. I personally know a half dozen high net worth individuals who are on the cusp of large investments in bitcoin related businesses as well as bitcoins. These persons will not proceed if bitcoin is manipulated down much further. They are not investing because bitcoin advances liberty and privacy, they are investing for profit. To the individual that is doing this, and I know you are one individual, I am not asking you to hold your coins; go ahead, sell all you want, but what do you gain by preventing new money from coming into the market with these ceilings?
You mistaken believe that whoever is manipulating the market gives a shit. For all you know it could be PayPal coughing up a few $100k to buy up enough coins so that it can stagger huge asks and drive the price down in an attempt to kill bitcoin.  Mission Accomplished. Now bring on the black helicopters. |
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how low will it go?
It bottomed @ 14.2. It's rebounding now, however. A little rally at least. There is just too many coins on the market between 15 and 16 for it to gain any real traction. |
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Could be a sign of new rally brewing up
I think so but it has not started yet, and probably won't while those big asks are out there. Once it does start though it looks like it is going to gain momentum quickly. |
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It looks like the buyers on Mt. Gox just put in limit orders and took the day off. The market depth is slowly being eaten up as Bitcoins are sold and buy orders are used up.
I don't think "slowly" is the proper word, it's falling fairly quickly. If those last few thousand btc buys at 14 get fulfilled prices are going to drop rapidly. I'm sitting tight waiting to buy. |
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It looks to me like there is a very deliberate attempt to push the prices down. If whoever is placing these thousand btc asks suddenly cancels there is going to be surge. For now though I would sit tight and wait for it to drop more. If you see the big asks get suddenly cancelled then it will be time to buy.
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While thinking about the possible attacks against bitcoin holdings the threat of Electro-Magnetic Pulses popped up. So my questions are:
1. How susceptible are bitcoin holdings to Electro-Magnetic Pulses (whether they be highly targeted or a more generalized attack)?
and
2. What are some of the possible defenses?
Thanks,
Trader Steve
In the event of an EMP you probably have much larger problems than worrying about your digital cash  |
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Don't run auto fans! Run 100%. (Unless you get low enough temps without  ) I am running 100% on all my cards, no-case, with a high speed deskfan blowing on the units. The cards just cannot breath side by side. The center fan configuration blows. |
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just started mining today ...(and yes i know dont start !!! but im still going to do it ) i got two xfx hd6950's using phoenix or guiminer the temps are very hot 102c on one card and 92c on the other and im only getting about 240 mh/s out of them  most disappointing  catalyst 11.5 drivers app sdk (stream sdk) 2.4 windows 7 x64 any ideas chaps ?!?! as i was looking to overclock and push these to the max...currently they suck ! lol cheers onis_uk Hmm I dont know.. I've only been in the game for about a week. I don't have AC in my house and hits hot here. but I still can keep them under 80 degrees fully overclocked usually. I do have big fans on them though. I use linuxcoin though. Has everything you need for the linux noob to get up and running. All can be run from a USB drive. I have 8 visiontek 6950's I have 5 of the same cards and it is damn near impossible to keep them cool. In general any non-referenced designs with the center fan suck if you are packing the cards together. I am going to just let them run as cool as I can and if they burn out I am going to keep sending them back until the manufacturers learn to provide sufficient cooling. |
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In another 10 years, the dollar.
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Hey everybody, This is my first post so don't go too hard on me I am thinking of starting a mining rig. I've got a i5-2400 already, so i need a motherboard for it. Which one can support 2 or even 3 HD6850s? If you had an AMD chip or bought one for $22 bucks. This is the best mining board I have found so far for AM3: MSI 890FXA-GD70 AM3 AMD 890FX SATA 6Gb/s USB 3.0 ATX AMD Motherboard http://www.newegg.com/Product/Product.aspx?Item=N82E16813130274A total of 5 PCI-Express slots. 4 of the are double spaced so you can get 4 double wide cards in there without pci extenders. You can also run 3 cards with additional space between each so they all run cool. There is a power switch on the motherboard if you decide to go caseless. |
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I just bought 150 Bitcoins from Bitcoin7 for $1981.5.
Hopefully the price increases to 30-40$
I think you will make 70% in a week.  |
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Rumor mill says it was an SQL injection attack that allowed the hacker to steal the user database. Protecting against an SQL injection attack on a website is fairly trivial which makes me doubt the ability and "security sense" of whomever developed that site.
To my knowledge they have not said if the database compromise lead to the hacked account. It seems very likely though, with access to the password hash weak passwords can be easily dictionary/bruteforced. Why anyone with 500k bitcoins would have a weak password leaves me guessing though. This is a lesson everyone can learn from though, if your password is not long, random, and mixed with letters, symbols and numbers you're at risk.
What is even more scary is it appears that the e-mail accounts on the list are now being attacked. If someone compromises your e-mail box your generally screwed as they can then reset passwords other websites with lax security like MTGOX.
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Since this is all new to me - pool hopping is just using your miner from one account to another right? Are there any problems in this? Do certain pools have issue with this? If I want to mine at one pool for a day and then want to mine at another pool another day - shouldnt that be my prerogative? Just wondering!
Last time I pool hoped this really big angry looking dude came knocking at my door. I can't say for sure if it was related as I just hid in my house until he went away. |
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I'm looking into setting up a 2-4x gpu rig. In terms of power/performance the 5770s look pretty good.
5770 is around 200 Mhash/s and the max power draw is around 108 watts.
Everywhere I've looked the 5830 is at least 50% higher power draw and some places have it over 200 watts under max load. So the 5830/5850 is 150-200 watts which makes it much less efficient then the 5770. Even if the 5850 call pull 300 Mhash/s most sites put it close to 200 watts full load. You'd be better off with two 5770s (400 mHash/s) for the same power. If you look at 3 or 4 in a rig then the 5770 is even better.
Price wise the 5770 is $95-$110 and given the power savings I don't see why people buy up the 5830s like they are gold when you're better off with the 5770?
With 4 5770s you're looking at 800-900 Mhash/s for 432 watts. The 5870s can get close to that but they're impossible to find, and just as (or more) expensive. Four 5830s/5850s are hard to find and would use a boat load more power without much more performance.
I must be missing something, thanks for any help you can offer. =)
Saying the 5830 is faster but uses more energy is like say that .50cal Desert Eagle is powerful but is loud. You see, no one cares about the loud part. |
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How do you manage 1000MHz, my many 5870 in ubuntu wont accept any clock setting over 900MHz, at which they are perfectly stable.
You use atiflash to read the bios and use Radeon Bios Editor to modified the clock rates. Then reflash. Limits?! We don't need no stinking limits. |
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