Still only one bid? I'm somewhat surprised that no one wants to buy a 5830 for 0.02 BTC. :S
Every one is waiting to get closer to the 24hr waiting period. These types of auctions are awkward, why would you bid before the end time... And if the auction will take 43 bids to break even, any single person bidding will want to recoup the investment, thus making up to 43 bids... Some will drop early, but if 2 members end up fighting over this, it's going to be one slow, long, boring fight... 1 bid per day, 3 months to go  Anyhow, I would change that to bids within 23:45 from the last bid don't change the bid end, thus giving at least some reason to bid inside that window. I could do, but my worry is that with the forum being quite slow, someone will snipe during a weak time zone and it'll end without another person having a chance to counter-bid. |
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Property is not property because it is rare, it is property because it is the product of your mind/creation. If you steal some wood from me and make a chair, you don't own the chair. It's my chair and you owe me for damages to my wood. Because you appropriated the wood from somebody who mixed his labour with a tree, and/or mixed your own labour with the tree, and/or at very least homesteaded it. ...and fairly so. The people who have made the original modifications have been paid. They are owed nothing further. I completely agree with you, however this does make his point moot because his point involved me stealing his wood. The equivalent in intellectual property would be you stealing my research, completing it and then marketing my product as your own. |
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Still only one bid? I'm somewhat surprised that no one wants to buy a 5830 for 0.02 BTC. :S
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Property is not property because it is rare, it is property because it is the product of your mind/creation. If you steal some wood from me and make a chair, you don't own the chair. It's my chair and you owe me for damages to my wood. Because you appropriated the wood from somebody who mixed his labour with a tree, and/or mixed your own labour with the tree, and/or at very least homesteaded it. |
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"The Rational Optimist" by Matt Ridley (not 100% political, but a great read)
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How odd that all the top scoring nations no only use far more pervasive public schools than the US, but they're also mostly socialist and/or heavily centrally planned. Communist China actually blew everyone else away. How ironic. You mean 'Communist' China which has some of the lowest tax rates (20-25% corporate tax, 20% capital gains) in the world? I assume Hong Kong, which also performed amazingly well, and Singapore come under 'mostly socialist' too? Maybe the reason nobody used that chart is because it shows that market-embracing nations like China and Singapore can outperform socialist monoliths on a fraction of the resource. Any comparison involving Norway in an economics debate is fundamentally flawed. The country is an anomoly of economics, due mostly to the fact that 20% of its economy comes from petroleum products, and its petroleum exports alone are greater than its entire imports. Is it fun to alter reality to fit your worldview? Effective corporate tax rates in the US are 0-10% and capital gains cap out at 15%.  http://www.nytimes.com/2011/02/02/business/economy/02leonhardt.htmlSo some of the most iron-fist centrally planned economies in the world are now free market because it's convenient for them to be in this discussion? I don't know how I've resisted turning libertarian for this long. It makes arguing so much easier. China isn't free-market, but it's a lot further from Communist than most of western Europe. You don't have to twist my arguments into a straw-man. Nobody's acting like China is a libertarian paradise, but trying to call it communist when its tax rates are similar to the US is fallacious. From the article you linked: "Of the 500 big companies in the well-known Standard & Poor’s stock index, 115 paid a total corporate tax rate — both federal and otherwise — of less than 20 percent over the last five years, according to an analysis of company reports done for The New York Times by Capital IQ, a research firm. Thirty-nine of those companies paid a rate less than 10 percent"Your 0-10% corp tax rate applies to 39 of how many companies in the US? Really? Please don't make ridiculous statements, most companies in the US pay far more than 20%, and many smaller corporations end up paying the full 35% whack. If you're going to post a source, read it first. Well done on avoiding me on Hong Kong and Singapore though. |
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I'm assuming you have no idea what you're talking about quoting an article that brief and lacking in any detail. Do you know what a Stock Market is supposed to represent? What does it mean for a company to invest in your stock and then sell it and then buy it again once per nano-second? What does that even mean? Building algorithms that exploit market gyrations to get 0.01% profits over and over again provides no net benefit to the economy. Nothing new gets built, no research is done, no productivity is increased, no new products are made, no jobs are created etc. Please do some research on the automated trading networks and look up more than 1 page articles on 'how horrible' a Tobin Tax is. If you think Goldman Sachs is providing a service to civilization by hyper-trading I'd love to hear the argument. I hate to tell you, but your personal definition of a 'service to civilization' doesn't benefit from a monopoly on the determination of value. If people didn't value shares, there wouldn't be a stock market in the first place. Shares obviously provide value, and some of that value comes from the ability to resell them. If you'd rather have a world without speculative investment, then you're talking about a world where it's very hard for a small business to get any capital whatsoever. Once that speculative investment has happened, it is anybody's right to resell shares which they own. The rest is just down to human ingenuity. The fact that the resale of those shares doesn't 'do a service to civilization' is largely irrelevant, as it is just a part of a process which provides investment capital for building things, research and productivity. |
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Still not sure that I understand your attitude regarding $3 vs $20, doesn't the ratio 20/3 remain the same even if the price goes to $7000 ? i.e. if you bought e.g. 200 bitcoins at $3 each then in dollar amount you would have $7000x200=$1,400,000, but if you buy at $20 each then you would have $7000x30=$210,000
I think what he's saying is this: Let's say you were to buy exactly 100 btc... @ $3 each you'd be spending $300 @ $20 each you'd be spending $2000 Now let's say they go to $7000 each... your 100 bitcoins are now worth $700,000, so who cares if you initially spent $300 or $2000 on them? But you'd be more likely to buy $x worth of Bitcoin. If you bought $3000 worth of Bitcoin at $3 you'd have 1000 BTC. If you bought $3000 worth of Bitcoin at $20 you'd have 150 BTC. At $7000 a coin: If you spent $3 a coin, you'd cash out for $7 million. If you spent $20 a coin, you'd cash out for $1.05 million. |
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How odd that all the top scoring nations no only use far more pervasive public schools than the US, but they're also mostly socialist and/or heavily centrally planned. Communist China actually blew everyone else away. How ironic. You mean 'Communist' China which has some of the lowest tax rates (20-25% corporate tax, 20% capital gains) in the world? I assume Hong Kong, which also performed amazingly well, and Singapore come under 'mostly socialist' too? Maybe the reason nobody used that chart is because it shows that market-embracing nations like China and Singapore can outperform socialist monoliths on a fraction of the resource. Any comparison involving Norway in an economics debate is fundamentally flawed. The country is an anomoly of economics, due mostly to the fact that 20% of its economy comes from petroleum products, and its petroleum exports alone are greater than its entire imports. |
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"Only" 5% fee was what you forgot to mention!  It's a 2.5% fee. Income 0.40 Outgoing 0.38 |
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i don't think that person cares at all for 0.1 btc. impressed that u the site owner cares though
(seems like a scheme to get rep)
More likely a scheme to get visitors, but it's a good thing to do. |
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I'll offer for all of the GPUs if they're working.
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Got one bid... who's next? :3
Someone must want to buy this for 0.02 BTC?
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Hopping yourself is an option if you're willing to write a script, otherwise I can suggest joining a PPS/Score pool.
Slush & Eligius are good examples of non-proportional pools.
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[75 GH/sec] MineCo.in - LP,EU Server,SSL,JSON API,0% TAX <-- Not Sticky
[~60 GH/s] ozco.in - 1month birthday bonus - see inside <-- Sticky
[50 GH/s] Ars Technica community mining pool, 0% fees! <-- Sticky
Thought maybe it was because the sites were reporting inaccurately on their threads, so checked sites...
MineCo.in: 73 GH/s
ozco.in: 62 GH/s
ArsCoin: 62 GH/s
MineCo.in has consistently hashed faster than either of those pools, but was un-stickied today, can a mod/admin clarify?
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@Reikoku: You were right. It works now. I have one bug report though: The startmining.sh script works from any directory and this is good. But the stopmining.sh works only from Autominer dir. I just copied and pasted the lines that get directory from paratemer and sets it to current directory to stopmining.sh and now it works ok . I need that, because for some reason when I want to start my miners at boot, this doesn't work: cd ~/Autominer sh startmining.sh But this works: cp ~/Autominer/startmining.sh /usr/bin/startmining ... startmining Not sure why the first doesn't work. Try cd ~/Autominer && ./startmining.sh instead. |
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Due to the sheer amount of controversy this has caused, I've decided to shut it down. I don't think that penny auctions are a scam, but I do accept that there are far too many ways for me to have deceived people in the way this one was operated. I thought long and hard about refunds and how best to do them, the doubling each refund above was appealing, but it didn't allow me to give out the 11 BTC which was what the winner had been promised. I'm going to refund every bidder except the most recent with 0.25 BTC, and send the winnings of 11 BTC to the most recent bidder (1AQDgdT6Jmu642wVCF8ayPfdKfNghnfLzA). This means that the most recent winner will be paid 11 BTC, the rest will get their bids back and my losses are capped at 11 BTC. BlockExplorer links for refunds: Bidder 1 - LinkBidder 2 - LinkBidder 3 - LinkBidder 4 - LinkBidder 5 - LinkBidder 6 - LinkWinner - LinkThis has been a learning experience and although I'm down 11 BTC, I think I've gained some knowledge about the reaction of the forum to penny auctions, some of the weaknesses in it which are very hard to do securely, and how to better trade in future. For this, I think it's a fair price to pay. Hopefully it will also show that I'm not a cheap profiteer and I'm not going to abuse the Bitcoin community which I enjoy being a part of. I was just trying a new commercial model and the resounding reply was that it doesn't work If the winner wants the Radeon 5830, they can send me 12 BTC back (as originally said) to cover shipping anywhere in the world, and I'll send it to them. |
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