BitShares isn't 212 satoshis. It's 1,504 satoshis.

You also really need to take the total coin supply into account in order for any comparisons to be meaningful. marechoux has explained this point quite well. Another analogy is to think of it as buying a percentage stake in a company. Assuming two companies have the same market cap, would you rather have 1 share out of a total of 90 shares or 1 share out of a total of 10 shares?

The first grants you ownership of little over 1% of the company. The latter grant you ownership of 10%. The best option then is to choose the latter. Hence the total number of coins (or in this analogy, shares) you own is meaningless unless you also know the total supply.

NEM has 9 billion coins. NXT has 1 billion coins. Even given that the market caps are identical, would you rather have 1 coin out of a total of 9 billion or 1 coin out of a total of 1 billion?

Of course, you should choose the latter option.


I'm invested in NEM but not to the same extent as NXT. I'm also invested in BTS too. Other than your choice to not buy any NEM, I definitely agree with your viewpoint. NXT wouldn't be what it is today without people like jl777. jl777 isn't a core NXT dev but what he does is he builds services that exist on top of the NXT core platform. It is these services that add value into the platform.

It's nice to think that if the technology is good, then the talent should follow but the situation today is quite different compared with 2013 and early 2014. When NXT was launched, it was pretty much the only functioning 2.0 platform in the altcoin space. Nowadays, there are many competing 2.0 platforms.


If you want to get into ridiculous amounts, there are coins like CENT which have trillions upon trillions of coins. That one even had individual wallets containing trillions of coins.

And finally to add one more point, it's possible that having a lower price per coin could have psychological implications. Many people were attracted to Dogecoin's low price when Bitcoin was worth almost $1,000. The whole movement to switch over to "bits" was pretty much born out of this idea. A cheaper NEM price might actually encourage a few more people to buy NEM vs. NXT or BTS (although I suspect this effect probably won't be very strong).

Depends on what you mean by "right now"? When it comes to the price short term, I'm kind of on the fence. Other than the mini spike in June last year, the price has been going down pretty much consistently over the past 15 or so months so I'd be lying if I said I knew that this is the bottom and that prices won't fall even further.

When it comes to the price long term, then I'm definitely very bullish although probably not as much as some other people here. The technology of the blockchain is sound and the benefits are pretty obvious (trustless, near-instant, and very low-cost transactions for starters). The past several years have shown that not only does the protocol not have any fatal weaknesses, but also that the network can scale and continue to remain resilient to attacks in the face of ever-increasing market caps. Even more importantly, mainstream society is now starting to accept BTC and the concept of cryptocurrencies. I first knew about Bitcoin back in 2011 and back then, I would never have thought that major companies like Microsoft, Dell, Overstock, and Expedia would be accepting BTC (granted, with the exception of Overstock, this description isn't truly accurate) or that companies like Microsoft and IBM would start their own blockchain-based projects.

I predict Bitcoin and cryptocurrencies in general have a fair shot at reaching the status of how gold is viewed today sometime in the future. To think that it will replace all fiat currencies and become the main currency is a bit more ambitious and slightly less likely IMHO, but still far greater compared to the risks of not investing at all:

I wouldn't do anything when the price hits $1,000. I do have a plan for what I'd do with my coins if the price ever reaches stratospheric levels but they involve amounts much larger than a couple of grand. Other posters have mentioned that many people by now have probably become disillusioned with Bitcoin because of the continuing fall in prices and perhaps some of those people might have lost faith in it but that doesn't change the fact that Bitcoin is an exciting and revolutionary technology. The potential upside is huge and because of this, I don't think I'd want to risk selling even 1/2 of my coins even if it means that I might miss out on the opportunity to scoop them back up for a cheaper price later on.

My ultimate plan is to sell 1/3 of my stash once BTC is enough to buy me a decent house ($50,000-$100,000 should do it). The other 1/3 will only be sold once the BTC price is worth ~$500,000-$1,000,000 which should be enough for me to retire on. The last remaining 1/3 will be hodled forever.

(I also have a small amount of BTC kept separately from the rest of my savings which I might use for occasional purchases, etc. but the bulk of my stash is kept as savings.)


Why would the price drop down to $100-200 after rising to over $1,000? I mean, sure it happened once in the past but that's no guarantee that the exact same thing will happen again if Bitcoin decides to spike. When the price spiked from $13 to $265 in early 2013, it never once again reached the low double digits. Someone who sold all their coins during the peak and waited for the price to go back down to $13 would have had no bitcoins by the time the price jumped up to $1,200 in November.

I believe it's enabled by default (at least that's definitely the case for my account). Most people don't tend to change the default forum settings.

You need to input a unique email address during registration in order for your account to be created. However, the email address doesn't need to be valid since no confirmation email is ever sent out. You shouldn't just put in any random email address though, since if the one that you entered is already owned by someone else then whoever owns it can also see your PMs and even initiate a password recovery to gain access to your account.

I always thought something like an Antminer S1 might be more suitable for someone with free electricity. Reason being that you can buy used ones off eBay for very cheap. Here's one that was selling for $40 NZD (about $30 USD) on Trademe (basically our equivalent of eBay):

http://www.trademe.co.nz/computers/other/auction-862628667.htm

According to Coinwarz, 180GH/s at zero electricity cost should reach ROI in about 2 months assuming that the difficulty stays the same. After that, it's pure profit. Plus, you could sell the miner for virtually the same cost you bought it for and make even more money on top.

Modern miners like the S5 are much more efficient and are able to produce nearly 4 times the GH/s per watt compared to the S1 but they also cost much more to purchase. If your electricity is free, then it might be a better idea to go for the horribly inefficient miners that nobody else wants because they are currently cheap as chips.


Any situation that allows for a space heater should be enough to accommodate Bitcoin mining. A small space heater consumes over a kilowatt of energy. An Antminer S1 normally consumes 360 watts. The S5 consumes slightly over 500 watts. Instead of using the heater to heat your room, you could use a miner or two during those cold winter days and your overall electricity consumption should remain pretty much the same.

Out of the major exchanges, Bter used to offer interest for deposits. You had to log in once per day to claim it though. Not sure if they still offer this anymore after their major hack which happened earlier this year.

As for altcoins, there is an altcoin called BitShares which has market-pegged assets. They're not actually backed by the asset that they represent but instead, they use a complicated mechanism to keep their prices reasonably close. It has worked pretty well so far. One of these assets is bitBTC. There are a few others such as bitUSD and bitGOLD. These can earn interest while reducing the risk of being goxed since the assets aren't kept on a centralize exchange:


You can see all of them here:

http://bitsharesblocks.com/assets/market

Litecoin is the most commonly forked coin. In fact, the word "altcoin" is almost synonymous with scrypt clones. Most of the animal coins and country coins that were released in 2014 were based on Litecoin. It's changed a bit recently now that scrypt ASICs are available and proof-of-stake systems are gaining popularity though.

Just out of curiosity but what other coin did you have in mind?


Yup. It's called Electrum-LTC. It took some time to be developed (Dogecoin actually forked Electrum months before Litecoin did despite being a much newer coin) but it's available now. You can find it here:

http://electrum-ltc.org/

Coblee originally intended for Litecoin to be able to easily adapt features and bug fixes from Bitcoin as they are released. That's one reason why he chose to fork Bitcoin directly rather than forking yet another altcoin.


The guide focuses on forking Bitcoin which uses the SHA-256 algorithm. You could try forking Qubit directly although I'm not really familiar with that particular coin. Changing a coin's hashing algorithm is probably much more difficult than creating a simple 1:1 clone so it might be beyond the scope of OP's guide.

It's possible that people could still see the ads by browsing older threads and posts. There would be far fewer impressions vs. your typical pay per post campaign but the earnings were also much lower compared to today.


This. Bitmixer has a flat pay rate across all member ranks which sets it apart from virtually every other signature campaign out there. Bitmixer's rates are pretty OK for full members but slightly below average for senior members and definitely below average for hero members. But they are also unique in that you get paid at your own pace and they don't set a minimum number of posts in order to get paid. For some senior and hero members, it might make sense to stick with Bitmixer vs. higher paying competitors for these features alone.


I always loved the design of the Bitmixer sigs. Most other signatures tend to cram words and symbols into their signatures but the Bitmixer one is very clean and simple. It's a very unique, striking design.

The average high-end PC is capable of 50 MH/s when mining SHA-256. They have 200,000 participants according to the latest figures so that brings the total maximum hashrate to 50*200,000 = 10 million MH/s or 10 TH/s. If we assume that 1 million PCs mining 24/7 at 10% efficiency (5 TH/s) generates $15 per day (see my post earlier in the thread), then 200,000 PCs should generate about $3 per day.



I just recently installed uTorrent a few days ago. From what I've read, I was expecting it to be terrible but honestly, it's not that bad. The option to opt out is actually pretty clearly stated and quite difficult to miss as long as you read through the instructions for each step of the installation. I didn't install it via the update process as a few others did but I'd be surprised if it was any different.

Also, uTorrent's mining program mined litecoins (and possibly other cryptocurrencies) rather than bitcoins.

EDIT: And the latest version has been stripped of the mining program:

http://blog.utorrent.com/2015/03/28/important-update-about-epic-scale-partner-offer/


You can't really compare the two. Legitimate mining firms have expenses that can impact profitability and sometimes make it negative. For a botnet owner/virus creator, there are virtually zero expenses and so any coins mined are completely free. Even if a PC was 10,000 times less powerful than a miner, having 1 million infected PCs would bring in the same amount of coins as 100 miners but with none of the pesky expenses that legitimate miners have to deal with such as rent, hardware costs, and electricity. Hence it might even be more profitable than having 1,000 or even 10,000 physical miners. In other words, it's pure profit after all.


I assumed from reading the OP that it would be average home users who would get infected (e.g. someone who might not hesitate to open an email attachment containing an infected file or a high school kid who stumbles upon a malware-infested site), and not miners who would probably be more vigilant with their computer's security and knowledgeable about these types of things.

Thanks for the replies.


So I take it that the extra word wasn't put in there to increase the entropy/strength then? It's just there to tell you what version of Electrum was used to generate the seed?


Ah, OK, that makes sense.


Why would you advise against trying to memorize an Electrum seed? I currently use two seeds and have memorized them both despite never trying to do so. It just happened naturally. I always assumed that memorizing it would probably safer than writing it down and even a partial seed would be enough to restore the wallet (since I remember hearing from somewhere that even having only half of the seed available would cut down the time required to crack the rest of it to mere days/weeks).

Hi. I made 33 posts but got paid for 20. So I'm guessing I'm also one of the affected ones?

Transaction ID: http://blockchain.info/tx/1eed1105ae7213e73ba9a8eb25ff8b1bdee95a6a3ad63d53486c2e938a54f1f6

I received my last payment so thanks!

Also, I'm just posting to let you know that I'm leaving this campaign (PM campaign). I'd like to thank both hilariousandco for being a great manager and Bitin.io for running an excellent signature campaign.

Any plans for a lightweight client? The idea looks interesting but the requirement that users must download the Bitcoin blockchain might turn off some people from getting involved. Is this a limitation inherited by all BTC sidechain coins?

The correct link is probably this:

http://rotator.doublebitcoins.com/r/TheRegister/

I've seen that [Suspicious link removed] thing pop up several times in these forums. Not sure if it's due to a blacklist or if it's an automatic restriction for newbies but I suspect it's the latter.

EDIT: It looks like my link wasn't removed so it's probably just a newbie thing.

Ah, that makes sense. Sometimes I forget that they are really just tiny integrated GPUs mostly separate from the rest of the CPU (despite living on the same die).

I don't think he was talking about this thread. Rather, he was asking why posts made in the alternate cryptocurrencies section by those who are enrolled in the campaign aren't counted when determining payments.

Or more specifically, this part:


And he has a point. It's unusual to see a signature campaign for an altcoin not count posts made in the altcoin section since most of those who post in the non-altcoin sections aren't usually all that interested in altcoins. Therefore, a signature campaign that advertises an altcoin might be more successful if it counted posts made in that section of the forums.

(Then again, if everyone who posts in the altcoin section already knows about your coin then it might then be a smart idea to refocus your strategy and see if you can get Bitcoiners interested in your coin. Besides that, many posts in the altcoin section are often quite spammy too so there's that problem as well.)

And whether or not a thread deserves to be in the altcoin section probably depends on how the payments are distributed. In this case, it's in BTC so it deserves to be in this section. A signature campaign that pays out in NXT or <insert altcoin here> would probably suit the altcoin section better.

Which one is better for mining? Assuming that they could be used, I would assume the answer is AMD since they have those snazzy APUs which Intel lacks?

Bit-X's traditional rival has always been DaDice ever since the latter launched two months ago so you could try them if you want:

http://bitcointalk.org/index.php?topic=973949

0.001 BTC per post seems to be the generally accepted rate for a senior member these days although some sig campaigns such as Bitmixer's might have lower rates but could be attractive for other reasons. Other than that, you should try to choose one with requirements that align with your posting profile. For example, some signature campaigns might choose to exclude posts in the alternate cryptocurrencies section while others such as mine don't.