out of context? he is quite right that the US govt will go after it.
if you think the last two weeks was volatility, look what's ahead.
The US government might go after it but will take years. The only reason they want to go after it is because of silk road. If silk road goes away I think bitcoin will stay off the radar for quite some time. Also even if the us government goes after bitcoin, theres still 200+ countries out there who could care less about bitcoin. Kinda my thoughts too...just look how long it took for them to get around to the poker stars sites...and that was stated as illegal the entire time under US law (right? this was my understanding) I am not a lawyer but I cannot see how Bitcoin is breaking any laws...not like the liberty dollar which claimed to be a dollar, had trust in god and made implications that it was backed by the US govt.
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I used a damaged dremel wheel to attempt to modify my x1 extender, it shattered as soon as I revved it up and a piece hit my face causing a small cut.
I was out of wheels so I grabbed my super sharp knife and started to shave away... slipped and cut my thumb open.
Neither cut was deep enough to warrant stitches, but there is a nice little pool of blood on my workbench now.
The good news is that I got the little fucker whittled down enough to make it work, and was able to add another 300MHash/sec to my secondary rig.
Worth it then.
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I agree...to quote a line from the movie "Strange Days", "...it's not whether you are paranoid...it's whether you are paranoid enough.."
Great, add more paranoia to the fanatic rants. That's exactly what Bitcoin needs to be taken seriously. Everything can use more paranoia...it keeps us safe. Even more with the latest security fails surrounding Bitcoin paranoia could only help the cause.
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You speculate every day you carry dollars, too.
You're holding on to them in good faith that the government won't screw up horribly and devalue them somehow. And unfortunately, that is the case. It is just a matter of 'when' the massive debts the U.S. is carrying crash upon our heads. There is no such thing as perfectly 'safe', but you better bet I'd rather hold bitcoins in the long run than fancy green toilet paper.
I remember in the 90's getting $1.35 or more canadian per US dollar now they are on par.
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Step 1) Buy RepRap with BTC Step 2) Make RepRap build GPUs Step 3) Take over world!
Just like my business plan Step 1)Build RepRap Step 2)Source parts for a bunch of RepRaps Step 3) ?? Step 4)Profit? Emphasis on question mark.
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Here is my example from a discussion I was in regarding the 5830's back in stock at Newegg...granted I shouldn't have kept kicking the troll but whatever. http://slickdeals.net/forums/showthread.php?sduid=0&t=3028001BTW...WTF is up with all the "I have popcorn ready" comments, I have seen them in multiple forums. That's interesting. The ignorance is truly amazing. How about the one guy who says it would take about 40 days to recover your cost in a condescending tone. Anyone who's ever owned a business would LOVE to recover their costs that fast. Most have capital to carry them through the first two years of expected LOSS so they can then realize gains. But hey, what do you expect from a bunch of people buying video cards for gaming (nothing against that but they have no business knowledge [general assumption])? I just don't take these guys seriously. I've been investing in silver for over three years now and when I was buying it at $8.90 I had an investment advisor tell me I was nuts. Well it went up to just shy of $50 and now holding steady. Now that I'm studying the economics and philosophy behind BTC I will run it as a speculative business investment. I will hold onto my BTC like they were oz's of silver or gold and pay the electric bill out of my day job. IF BTC is burnt to ash so be it. I've lost more on crazier ideas. But what these dweebs don't understand is that BTC is an attempt to bring change to a world that so desperately needs it in a way that it can actually accomplish something. What are they doing? What change are they trying to bring about? None. They are watchers not doers. Eating popcorn and watching the doers do that which they don't understand like it was Netflix or something. And for enduring all that is exactly why people who are involved in BTC deserve to be rewarded. Perhaps we are martyred and future generations benefit and the history books write of us. Many of the founding fathers of America did much of what they did not for their own gain as much as for ideals. A man must ask himeslf at the end of the day what he has contributed to his fellow man. Popcorn eaters can choke on those salty seeds!! The same people cannot understand why someone would open source anything. "You just gave it away...Why?" Sometimes things are bigger than money. I am currently involved with RepRap's, Arduino, and Bitcoin...it is difficult to explain to anyone what kind of an impact things like this have...in the coming weeks when my RepRap site is online I am planning to accept Bitcoin.
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Maybe it should have Satoshi's head on the other side...
this IS satoshi The earliest adopter...trying to devalue to buy more...makes perfect sense.
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I find it odd that in just about any forum whenever you mention Bitcoin there is always a troll that will dedicate the day to trying to sway people from Bitcoin...for a while I thought it was other miners trying to keep the difficulty down...now I am starting to wonder...there is a media attack for sure and I do suspect someone is trying to cause a mass exodus.
It wouldn't take much invested to cause ripples...couple million. How much annually does the banking industry stand to lose in fees?
You can be dam sure there are all kinds embedded in these pages. All kinds with different agendas. Miners who want to keep the difficulty down. And certainly, certainly gov agents and agents (i use that term loosely, aka, actors), of banks, corps, etc, who are trying to sway opinion. It took many, many years for the Fed member banks to convince people that fiat was valid currency and they are incorporating the digital world into their fraud. Bitcoin will be a clear and present danger to their world and it will be acted upon. I'm curious beyond words how this will play out as the gov's previous foray into the world of bittorrent was an utter failure. It backfired and they brought more interest into something they tried to shut down. So now what the fuk do they do? If they're smart they will not combat it openly through litigation but rather subterfuge. They will paint such a negative picture in the media in an attempt to keep it grounded in hopes that it will only be used in small niches. Eventually there will be competing currencies and this will become more clear to the larger mass of ignorant gov stooges. You can be sure some know it is an unstoppable train at this point. We need to be aware of their tactics. Catalog the methods they use (it WILL be primarily media based attacks) and somehow counter them. It'll be a grassroots ground war spreading the gospel like an apostle. Many will not have the fortitude for it. Unfortunate too. This is the beginning of something that is sending shockwaves through the world that will be felt for ages. Many can't see that. I agree...to quote a line from the movie "Strange Days", "...it's not whether you are paranoid...it's whether you are paranoid enough.."
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Here is my example from a discussion I was in regarding the 5830's back in stock at Newegg...granted I shouldn't have kept kicking the troll but whatever. http://slickdeals.net/forums/showthread.php?sduid=0&t=3028001BTW...WTF is up with all the "I have popcorn ready" comments, I have seen them in multiple forums. (I guess they are in the "Popcorn gallery"? That is the only thing I can think.)
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Just in case I will post this:
"I told you so"
In case it tanks:
"I told you I'd be fine and I am"
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I find it odd that in just about any forum whenever you mention Bitcoin there is always a troll that will dedicate the day to trying to sway people from Bitcoin...for a while I thought it was other miners trying to keep the difficulty down...now I am starting to wonder...there is a media attack for sure and I do suspect someone is trying to cause a mass exodus.
It wouldn't take much invested to cause ripples...couple million. How much annually does the banking industry stand to lose in fees?
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My rigs will be used to drive personal video wall(s)
Got a big lot of 30 LCD monitors in january and I've been set on making a video wall ever since.
Awesome, I never thought someone would find a way to get more heat output than we already have.
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1. This bald guy have no understanding how Bitcoins work.
2. He smoked way too much marijuana and made a sceptical opinion.
3. EPIC LULZ!
Never blame the weed...its people who are stupid.
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Not using bitcoin seems like the most sensible way of protecting your wealth from attackers who're trying to steal your bitcoin wallet to me.
[/quote]
I guess you are right...nobody steals cash, credit card info, bank info, vehicles, houses (quitclaim deeds)...or for that matter just personal info...anything that someone deems as having value will be stolen by the next shady person who thinks it has value also...trust nobody, protect yourself and you will have nobody to blame but you.
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tl;dr.
Iirc, this means td;ow - too dumb, only watched. Learn something useful on the shitter. No, doesn't mean too dumb only watched, it means too long didn't read. I have lavatory-literature already. Currently reading Carol Quiggley's brilliant work Tragedy & Hope, great book. Text here. As I linked the book, what did you think of it, good? Agree with his observations? I think I'll start tl;rh (too long, read half)
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Second that...still kicking myself for not having any money in my account last weekend for what should have been a big buy in at $10 just to make 2.5x the money back by selling @$25 12hrs later...am I wrong for thinking that volatility is good for currency trading...some would dream of that kind of movement in the markets so they could leverage a few million dollars.
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wow i was trying to guess the answer using a formula i learned in film school, its way off from what you guys have. i was thinking along the lines of volts * watts= amps so v*1250= (substitute wither 15 or 20 for amps) so 83.333*1250=15amps with 120v lines you should be ok right? thats what 26k in student debt with 1 lighting class and a rip off the bong gets ya.
Ohm's law...P=IV (Power equals current times voltage). Where you were going wrong is you should have used watts/volts=amps
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Wow - great info everyone! Thanks! I'll look into getting a dedicated 240V line set up.
Personally I'd prefer to keep all the equipment running in the 110-120v world so I don't do something stupid like plug a machine intended for 120v into a 240v line. All of the mining power supplies that I bought (I suspect anything suitable for mining) auto switches the voltage...I wired specific 240V Plugs so it would be impossible to plug a 120V into it (such as a fan or monitor...that is without making a 120V line from the subpanel...which is no problem). The more current you draw through your line the more line loss/heat in the wires you have...higher voltage is more efficient...which is why they transmit over long distances at extremely high voltages. It's all about percentages...a 1V drop is less significant on a 240V line than it is on a 120V line.
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I would check the max AC current draw on the PSU. But 1250W @ 120V is 10.4A...add a bit just to be safe...I would put it on its own breaker if you only have 15-20A breakers. I had to run a dedicated 240V line for my rigs...when they were being setup/tested at my friends apartment we were having trouble with crashes when the power surged/browned out...not too sure he lived next to a mill...when we moved them the power issues went away.
BTW, if you run them on 240V...which most PSU's either switch to or auto switch to...then you draw half the current...keep that in mind.
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