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1921  Bitcoin / Mining / Re: A new approach of BTC mining on: December 17, 2013, 04:01:17 PM
Yea, guys don't trust this. You always will have the same odds, no matter what happened the roll before. It would be possible to roll a dice for the rest of your life, and never ever ever win anything ever... @Carleton did you lose 38 BTC Shocked ? that would suck!
1922  Bitcoin / Mining speculation / Re: BTC Mining is dead IMO on: December 17, 2013, 03:53:02 PM
Haha I remember the days when a CPU miner was relevant... Those days...
1923  Bitcoin / Hardware / Re: About those USB Block Eruptors on: December 17, 2013, 03:47:30 AM
Im being serious was that sarcasm? I'm guessing it was  Huh
1924  Bitcoin / Mining / Re: A new approach of BTC mining on: December 17, 2013, 03:30:20 AM
Yep, spending 0.1 BTC, to gamble. Hopefully the BTC crashes and this guy loses all his precious BTC
1925  Economy / Economics / Re: What is wrong with BTC today? on: December 17, 2013, 03:20:18 AM
Hey,
Haha, at that price I would say more in the 100's range. Im talking about in the thousands range about maybe 10 or so.
1926  Economy / Economics / Re: What is wrong with BTC today? on: December 17, 2013, 02:55:08 AM
Hint: Never trust some random currency that some random guy made, to be a main money source until it is stable, and is proven. Until BTC sits at the same price with a fluctuation of 5$, I will not put any money into it or use it as a currency. Let's mine now so that we can use it for our future!
1927  Bitcoin / Hardware / About those USB Block Eruptors on: December 17, 2013, 02:44:50 AM
Hey guys,
I just wanted to share my opinions on those USB block erupters you can buy on amazon for 50$. Most of them generate around 333mh/s. Here's where my opinion starts. These are completely stupid and absurd. Do the math, these will never ever pay themselves back. Why the hell would you buy some random USB thing that gets hot for over 50$, and then have it never ever pay for itself. Do the math. Right now they make about 16 cents per day. In theory, if the difficulty and price stayed the exact same, it would take 4 years to make that money back. Of course there is the difficulty changes, so in a year that will probably mine absolutely nothing, maybe less than a cent a day. This would never ever pay for itself, so my advice to the people that are thinking of buying this: STAY AWAY  Angry
1928  Bitcoin / Bitcoin Discussion / Re: I die before mining stops? on: December 17, 2013, 02:37:35 AM
Just like the environment. Why should we care about the environment because we will die way before it will get bad. JK  Grin
We should preserve BTC for our future!
1929  Bitcoin / Project Development / Re: Bitcoin price alerts: coinnotifier.com on: December 17, 2013, 02:25:48 AM
Hey,
woutervdm, its a great idea, but your website is crap and there is many other things like this. Why would I choose your service over other peoples?
Now for some constructive feedback: Add some unique features that would make people want to use YOUR website instead of others. For example, charge a few cents or 0.001 BTC a day for text notifications. Many people don't have access to wifi or 3g all the time (like me) so I would love a SMS notification that would get to me no matter where I was. Email notifications should definetly free, but if you want to make some money out of this, charge for some features. For example, you could make a 30 minute delay for a price notifier for email, which is free, but then you could pay 0.001 BTC to get instant (as instant as email can get) notifications.
On a side note, oh crap litecoin and bitcoin are crashing. Litecoin is at $18.9 and btc is at $653. Thats just fantastic  Angry
1930  Bitcoin / Mining / Re: A new approach of BTC mining on: December 17, 2013, 02:18:41 AM
Hey,
Luck is always luck. There never will be a positive return, just by betting higher after you lose. There aways will be about a 0.9/2 chance of winning (website takes a percent or two). Each bet is a new deal. Your idea is like thinking if you roll a 6 diced dice 6 times, a number will definetly get rolled. Yes, you may get that result, but there is also a chance that all 6 times you will roll that number, or you will never roll that number in your life. You sound like an addicted gambler who is trying to justify his gambling to society. On average, if you bet a thousand times, you will probably win 9990 times, because the house will have to take a percent or two to keep it going and make some money. Trust me dude, if this was a way to make free money, the whole world would be on it, generationg "free money".
It doesn't work this way OP. And OP, you are just getting a free 100$ off of of everyone who tries this. 0.1BTC for a betting program is absurd.
1931  Bitcoin / Bitcoin Discussion / Re: I die before mining stops? on: December 17, 2013, 02:11:53 AM
Yes,
So I'm still stupid  Tongue Block rewards, aren't they like the "reward" for adopting it early, and as it goes on and on mining becomes less profitable, but BTC is evolving. Eventually, I believe BTC will be a currency, and yes, there will be enough transaction fees to cover this.
1932  Economy / Economics / Re: What is wrong with BTC today? on: December 17, 2013, 02:03:37 AM
Wow,
Do you guys expect that it will climb back up again within a few days? I'm a bit scared with my precious BTC in that wallet. Let's all pray that the US government doesn't shut down BTC, if they do, we're f*cked... But hey, at least they can trade them. They should all probably send them to their american friends to deposit the money and send it back. If I lived in china and had thousands of BTC I would probably do that...
1933  Bitcoin / Bitcoin Discussion / Re: I die before mining stops? on: December 17, 2013, 01:54:49 AM
Hey,
I just realised that the fees came out of the senders or receivers BTC account... I'm stupid. But it wouldn't be as nearly as profitable as before!
1934  Bitcoin / Mining speculation / BTC Mining is dead IMO on: December 17, 2013, 01:48:06 AM
Hey,
I am a regular bitcoin user. No, I do not own a ridiculous 10 Ph/s bitcoin mining farm in Antarctica with liquid nitrogen cooling. I have a normal computer with your standard r9 280x (7970) GPU. I can hash at around 700Mh/s and for scrypt I can hash at 720kh/s. I am here to tell you very bad news. If you are in this for profits, leave now, right now. I can generate 27 cents a day with BTC with my over average GPU that most regular people will not have. Or, I can mine scrypt coins and depending on the coin make at least 8$ a day, which could get you some good quality free beer every day Wink. Even standard ASICs are getting to be unprofitable. The BFL Jalapeno is 230$, and mines at 5 gh/s. That is probably the most popular ASIC for its attractive price, and noob friendliness. With one of those, I would make approximately 2$ a day. A BTC ASIC, made for mining BTC and nothing else, makes only 2$ a day, and then theres power costs (although fractional). Once mining is irrelevant, that machine is useless. All it does is generate heat, waste electricity, and looks good in the corner of your room. Buying a graphic card for 1.5x the price, will mine 5x more money in a day (yes take up more power, but this is only 1$ a day of power), and once scrypt mining is obsolete, you will have a very very nice GPU to play games with, edit video, or do other things. At least you could do something with your miner!
All I really wanted to say in this post, is that I don't reccomend mining BTC at all, even if you are going to buy an ASIC. And even if you already have a nice GPU like mine, and even want 26 cents a day, just don't. It makes noise, destroys your graphic card quickly, and generates tons of heat. Even if I had the capital to invest in a very nice ASIC, I probably wouldn't because, what if BTC crashed the next day, and all I had was some stupid brushed metal box. At least if I spent twice that much for the same hash rate in GPU's, I would have a ridiculous amount of gaming power, and could sell those cards, or build a supercomputer or use them as a heater for your house. I don't know what you want to do with 100 GPU's. The possibilities are endless!
Thanks for reading this, and please take my advice to stop mining those stupid BTCs. We need to start using it as a currency!
1935  Economy / Economics / What is wrong with BTC today? on: December 17, 2013, 01:35:15 AM
Hey,
I have this BTC ticker on my google chrome browser, and I was surprised and in shock with today's massive drop. It went from around 900$ (yesterday) to 650$ now as I write this. I don't have very much money in my BTC wallet, only about 100$, but this is quite a big drop in price. I really don't want to do the math, so I would say that is around a 30% drop! Thats quite a bit if you have lots of bitcoins. For some people bitcoins are their bank, so imagine if you had 1 million in your bank account, and the dollar just dropped randomly to 70 cents. Thats a loss of 300,000 which is quite a lot. Of course this would probably never happen with the dollar (at least not soon) but with BTC, yes it is quite volatile. I think that for BTC to work as a curreny, it needs to be stable. The reason some people aren't buying this and using this for paying things is because it's instable. Its almost like gambling money with every purchase. Imagine if you bought a ps4 with BTC, when they were 200$. So thats 2 bitcoins. If you waited a few weeks, you could have bought 5 PS4s for the same cost, when they get to a thousand dollars. Also, if someone sells you something, and then bitcoin completely crashes to a dollar, you pretty much got that item stolen from you. You made absolutely no profit off of it. Again, for BTC to be successful for business and civilians, unlike us, it needs to be stable. Buisinesses can't risk losing money beacuse of a BTC crash.
Thats my opinion on these drops.
May the BTC be with you!
1936  Bitcoin / Bitcoin Discussion / Re: I die before mining stops? on: December 17, 2013, 01:06:38 AM
Hey,
Yes there is still the fees, but mining won't actually give you any BTC?
1937  Bitcoin / Bitcoin Discussion / Re: I die before mining stops? on: December 17, 2013, 12:16:58 AM
Hey,
Just to clarify, if all blocks are found, does that mean no profit for mining? You can't possible make more bitcoins than the limit, so I am guessing by then all mining does is confirm things. Also, will the prices of BTC shoot up, because there can't be more bitcoins, so then it would infinitly create more demand?
1938  Other / Beginners & Help / Re: Information about the Alt-coins, and how to profit off of them on: December 15, 2013, 02:52:21 PM
Haha,
Ya I'm sure many people are doing this, but I just wanted to tell the people that aren't doing this yet to help them out.
1939  Other / Beginners & Help / Information about the Alt-coins, and how to profit off of them on: December 15, 2013, 02:44:38 PM
Hey,
I just wanted to share an important message to you about alt-coins.
There has been many different alt-coins that have sprung up in the last few months. We all know that some may be more profitable than mining litecoins. This is why we mine alt-coins. Not because they are going to turn into a currency, it is because they can be lots more profitable to mine, and then you can just convert them into BTC or LTC. In the descriptions or websites of many alt-coins, they often advertise as being THE coin for the future to use as a currency. To think that this is true is not smart at all. Imagine having all the alt-coins as currencies in our world. Imagine walking to a corner store, and they only accept Grandcoin, when you have Globalcoin, Worldcoin, and Digitalcoin. Having hundreds of different coins would be like walking into a store with many different currencies. That would be impossible. The only coin right now that will effectively serve as a real currency will be bitcoin. Litecoin is becoming increasingly popular, but there can be only one, and that is bitcoin. Bitcoin also has many times more exchanges than the other coins.
I am not saying that alt-coins are bad. Alt-coins are actually very good for this mining hobby we all have  Grin. It puts in the fun of choosing the most profitable coin to mine for the day, and also puts in the chance that maybe your alt-coin you are mining will take off and double (happened to me Cheesy). Alt-coins do nothing but benefit the whole cryptocoin idea. Yes, they may take away a few fractions of a percent off of litecoin/bitcoin's market share, but does it matter? Right now, the only 2 real coins are BTC and LTC. BTC is the root of the SHA-256 algorithm and LTC is the root of the scrypt algorithm. You should base everything off of those 2 currencys, as they are the base currency for each category.
Unless you already have some ridiculous ASIC miner for Bitcoin, don't even consider mining directly in BTC. The difficulty and the popularity is ridiculous, and even with a 250$ 5gh/s ASICminer you only make a few dollars a day. If you are interested in getting into mining, build a new computer with a cheap CPU, motherboard, and everything else. Make sure that your case has good airflow, as these are going to be on 24/7 running at 100% load. Actually, you may want to invest in a motherboard that has more than 2 pci slots. In the future, you may want to run 4 or more GPUs on the same computer to get an even better hash rate. When choosing a gpu, STAY AWAY FROM NVIDIA, they are extremely unefficient with mining, and the best NVIDIA will be 10 times slower than an average AMD. The best GPU's mining right now for performance per dollar and break even rate are the 7950, 7970, and the r9 280x. The r9 280x is a 7970, but with a way better price, so I would advice buying that instead of a 7970.
To benefit from all these alt-coins, follow my steps in what I do.
1. Make a bitcoin wallet. This will be your center money source, and you will trade all coins to this (we will do that later)
2. Make an account at cryptsy.com. We will need this later
3. Go to coinwarz.com, and calculate the most valuable coin right now.
4. Find a pool, and start downloading the blockchain
5. Start mining, and the blockchain should be downloading in the backround.
6. When the end of the day comes, just for fun find out how much you made.
7. Deposit the alt-coin in your cryptsy account
8. Trade the random currency to BTC
9. Deposit the BTC into your bitcoin wallet on your computer
10. Sell your BTC, but things with it, whatever. You now have more money than you would have mining LTC!
That pretty much warps up my guide on how to profit on alt-coins, and what do they serve a purpose of.
Thanks for reading this!
-j2543
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