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581
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Other / Off-topic / Re: Forex trading?
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on: September 26, 2011, 03:29:49 AM
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Trading with fake money is the best way to get a good understanding of it. That's like saying watching porn is the best way to get better at sex.  |
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582
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Economy / Securities / Re: Now seeking investors for BitCorp Mining Company
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on: September 25, 2011, 06:58:26 PM
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You'll need to post substantial proof within 24 hours if you want to build some credibility. We've been through this game before, and it's infuriating. Photos and video will help a lot. No excuses, no explanations, no delaying or putting off. Just link photos from imgur and a video from youtube. If you don't, you will lose all credibility instantly and you'll have zero chance building it back up. You'll never meet a more cautious, picky, skeptical, paranoid, risk-adverse group of people in your life. You'll have to lay down every card you got or just go away. This is going to have to be done in stages, until I get down to the offices later today. Here are the empty boxes of a little less than half our GPU's: https://i.imgur.com/1L8TJ.jpgHere is a miner in a spare room: https://i.imgur.com/Zeu9Z.jpgHere is the same miner with the side panel removed: https://i.imgur.com/2jrAd.jpgA picture of our 24 port switch and server chasis: https://i.imgur.com/bMpXO.jpg3 more mining rigs in home office: https://i.imgur.com/qF72o.jpgside panel removed on the miner on the left: https://i.imgur.com/RJLR7.jpgside panel removed on the miner on the right: https://i.imgur.com/nZumT.jpgThe miner in the middle is identical to picture 3 a picture of a miner in the bedroom: https://i.imgur.com/iYnXB.jpgside panel removed on bedroom miner, with 5970 ready to go back in: https://i.imgur.com/AAf66.jpgThat is a start, more to follow. Forgot to post this one, a 6970 hashing away in our living room HTPC: https://i.imgur.com/FLk4E.jpgVery impressive. You made an interesting choice going with dell boxes. That's different from most other farms out there. If you can get a large number of off lease/used dell machines then it's definitely more cost effective than open frame solutions. |
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583
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Economy / Securities / Re: Now seeking investors for BitCorp Mining Company
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on: September 25, 2011, 07:09:45 AM
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Just out of curiosity, where would be the value in selling a contract to someone, then renting out the hash-rate from someone else? How could you make that work?
You claimed your credibility lies with your past history of offering mining contracts. I just pointed out that that "the ability of offer mining contracts" does not imply "owning mining equipment". If Alice wanted build credibility, she can just rent 9000 MH/s for 35BTC per week and then offer "mining contracts" for 32 BTC per week. It only costs Alice 3BTC per week to build credibility while appearing like she operates a huge mining farm. You have to understand that from my personal perspective there is 0 evidence to differentiate you from Alice so far. A simple set of pictures can change that. My biggest problem is certain people on this forum will scream "scam" no matter what evidence is provided. If I post pictures, they will say the pics are photoshoped. If I post a read-out of our BTC prodution for the last 30 days, they will claim we made it in excel. If I post the names of people we have been a great business partner too, they will claim we have multiple accounts.
Maybe I was a little harsh in my first response, I let my frustration come through.
We are willing to provide evidence that we are legitimate, and would like your suggestions (we are re-considering posting pictures per you request). We genuinely want this to work, and are being completely straight-forward.
The whole chicken and egg thing is killer.
Yes, pictures can be photoshoped. But snapping pictures is cheap and easy, while photoshoping multiple megabyte sized photos are not. Yes, some people will scream "scam" no matter what. But if you post two dozen high resolution pictures of each of your locations, then anyone still screaming "scam" will just look like nut jobs. |
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584
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Bitcoin / Development & Technical Discussion / Re: Is blockexplorer's total bitcoins in existance accurate?
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on: September 24, 2011, 10:30:40 PM
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Sorry for the stupid question, but how did 20 nanobitcoins get destroyed in that block? I thought bitcoins never gets destroyed, they can only become irretrievable?
Did you not see that the generated coins were 49.99999999 instead of 50? No, I missed it. So how did this happen? Did a miner intentionally reduce his profits? Was it a bug in his code? How come all other nodes accepted this block? |
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585
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Economy / Securities / Re: Now seeking investors for BitCorp Mining Company
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on: September 24, 2011, 09:31:17 PM
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How to start a bitcoin business:
1. Put "CEO of XXXXX" in your sig. (replace XXXX with something important-sounding)
2. there is no 2.
1.5 When someone wants some evidence before investing, make personal attacks against them and then accuse them of being a newbie. |
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587
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Economy / Securities / Re: Now seeking investors for BitCorp Mining Company
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on: September 24, 2011, 08:20:05 PM
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Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.
I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility
Please don't take this the wrong way, but That's great. A truly brilliant observation. You should probably be given a prize for your power of deductive reasoning. All joking aside....assuming the price of BTC will always go down is stunningly assinine (have you even been paying attention for more than 5 weeks, or are you a newcomer who assumes they know all?). I would not base a business on that assumption, but if you want to, be my guest. furthermore, I really could not care less about what the BTC/USD conversion rate is, as we are in the business of mining Bitcoin, Paying dividends in Bitcoin, and taking investment in Bitcoin. We produce a very steady, very predictable stream of BTC per month, and tha has value to many people. In regards to the photos, we don't feel the need to disclose them simply because you feel entitled to throw accusations around. We have a track record of being legitimate partners in mining contracts. This can be verified here: https://bitcointalk.org/index.php?topic=41888.0 and here: https://bitcointalk.org/index.php?topic=38904.0 Our reputation can also be looked into by talking with "payb.tc", "jduck1987", and "BitSense Informatics" I'm just trying to help, if you don't want it then that's fine. The other threads have 0 evidence that you actually have the machines. You could have simply rented the hashes from someone else. I have no interest in bothering other forum members because you refuse to provide evidence yourself. Do you expect every investor to hold a PM chat with those three guys? If you make no assumptions about the BTC/USD conversion ratio, the scam will still work. Just pay the dividends from the original 8 BTC. You can do this for 6 years and the scammer can still make a profit. I bet typing that reply took much longer than posting a photo. |
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588
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Economy / Securities / Re: Now seeking investors for BitCorp Mining Company
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on: September 24, 2011, 06:21:32 PM
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Please don't take this the wrong way, but someone can ask for 8 btc per share, convert that into USD, and put the USD into a bank account. At the current rate of bitcoin price drop he can afford to pay out 0.1 btc dividends indefinitely.
I'm not making accusations here. I'm saying that there's very little evidence to differentiate you from the above scheme. When you release your mining rig photos to potential investors they have no way to verify those photos except by posting them on this forum, so your photos will end going public regardless. So I would highly recommend that you post some photos of your mining rigs since it has the following benefits:
1. Everyone can verfiy that the photos are novel
2. Someone else can't claim the photos as their own
3. Build credibility
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589
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Economy / Economics / Re: eCurrency with a Basic Income?
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on: September 24, 2011, 06:04:05 PM
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I'm not sure how this profile thing can work.
Suppose I introduce a friend to Bitcoin today, and he uses it regularly from now on, he would earn a profile under your system in X number of years.
Now suppose I get a new IP, fresh install a new bitcoin client, and uses this puppet account regularly from now on. How would you prevent this puppet account from earning a profile in X number of years?
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590
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Economy / Securities / Re: Now seeking investors for BitCorp Mining Company
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on: September 24, 2011, 05:57:00 PM
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Are you sure your production numbers are correct? I'm producing half of what you are producing and I only invested $2000 in hardware. I thought the point of a corporation is to take advantage of the economies of scale.
Great observation. We did not hit our current 10,000 MH/s until early this month. I expect that our September production will be close to 175 BTC. That's more like it. Do you plan to expand further or just keep the current rate? |
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591
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Bitcoin / Bitcoin Discussion / Re: I'm planning to write a book about Bitcoin, any ideas?
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on: September 24, 2011, 05:51:44 PM
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Fiat vs Crypto (Centralized vs Decentralized)
Fiat and bitcoin are not mutually exclusive so I don't think it's logically sounds to pit them against each other. The very fact that they are not mutually exclusive is a good reason to compare them. Things that are mutually exclusive cannot compete with each other, so if they were mutually exclusive, there would be no reason to pit them against each other. Good point. My concern is that "if bitcoin becomes fiat in the future your readers will have no idea what you are talking about". Libertarianism, Capitalism and Anarchism
I'm sorry, what does this have to do with Bitcoin at all? For starters consider the message in the genesis block. I haven't read the message yet. Is the message some sort of initiation ritual that every bitcoiner must undergo? I have to confess that I engaged in multiple Bitcoin transactions without undergoing the ritual. I'm a libertarian myself, so is a large portion of this forum, but bitcoin itself possesses no political ideology. It's just a bunch of code, and a few terabytes of data spread across thousands of computers. It's easy to convert someone into bitcoining, because once you give them the source code they can convince themselves it's free of bugs and malicious intent. It's very difficult to convert a statist into Libertarianism because they lived their entire life under the protection of the State. That's why I don't think people should mix political messages into a treatise about Bitcoin, because it will undoubtedly hinder Bitcoin's growth. |
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593
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Bitcoin / Development & Technical Discussion / Re: What Guarantees Are There That The Supply of Bitcoin Will Be Limited
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on: September 24, 2011, 04:48:03 PM
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Thanks, I thought there was some deep hidden reason. If that's the case then I understand the OP's question and have one of my own.
If bitcoin did become widely accepted at some point in time it would then be possible to increase the supply of btc based on demand instead of simply relying on shifting the base-10 numeral system down another decimal fraction (i.e. printing more money). Yes?
Yes, it would be possible to increase the supply. If you can convince the majority to accept it. Are you suggesting that shifting the decimal point is the same as printing more money? Because it's not. It's cutting the same pie into smaller pieces. The larger pieces still exist and still have the same value. No, I was suggesting increasing the supply of btc was increasing the money supply instead of just shifting the decimal. It seems clumsy to have say a billion people worldwide sharing the use of 21 Million coins but that's obviously a long way off. A billion people worldwide will be sharing 2,099,999,997,690,000 satoshis, so it's no problem at all. There are only 982 billions USD hard currency in existence currently, and yet the world seems to function fine upon it. |
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596
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Economy / Economics / Re: Global Markets Are Tanking
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on: September 23, 2011, 06:39:31 PM
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Thanks for the explanation guys. That really cleared it up.
I only had gold bugs in mind and did not consider these large institutional investors.
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597
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Bitcoin / Bitcoin Discussion / Re: Bitcoin version 0.4 released
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on: September 23, 2011, 05:52:15 PM
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Sadly still not working on W2k  Switch to Linux. Surely W2K will have enough unpatched security holes that any bitcoins you own will surely get stolen. Maybe it's his workplace machine. I can't imagine a bitcoiner using W2K by choice in the year 2011. |
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598
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Economy / Economics / Re: Global Markets Are Tanking
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on: September 23, 2011, 05:30:02 PM
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Oh, btw gold and silver are ON SALE! Perfect time to load up $1635/Oz right now  Sorry for the stupid question, but why does gold go down in risky times? The same thing happened in Oct 2008 as well. That's really counterintuitive for me. |
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599
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Bitcoin / Mining / Re: More miners = lower Bitcoin price (not why you think)
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on: September 23, 2011, 05:20:59 PM
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The more money spent on hardware, the more BTC need to be immediately sold to pay for that hardware. For me personally, I consider all my mining hardware to be sunk cost. Whether I brought that hardware for $1000 or $1 is irrelevant since it cannot be easily recovered anyways. My only goal is to maximize profits, not to break even. |
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600
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Bitcoin / Bitcoin Discussion / Re: Mooncoin taken over by the feds?
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on: September 23, 2011, 03:43:33 PM
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Did anyone contact the immigration and customs enforcement? Stealing bitcoins etc is a pretty arbitrary crime because the value is arbitrary and I doubt any agency would commit resources to tracking down BTC thiefs but people scamming other people by impersonating a federal officer is known territory to them.
Hmm, I guess one could draw a line between putting up a fake ICE seizure, and impersonating a federal officer/agency. It'll be interesting to see how this plays out. If I go to moonco.in I am greeted with a certificate digitally signed by the ICE. If that's not impersonation I don't know what is. |
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