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If you were playing the markets right now, you could be making some money....
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The two things I'd really like see is
1. Encryption on my wallet file
2. The ability to move my wallet file where ever I like.
I'd then store my wallet file in a secure (probably truecrypt) container or thumb drive. I'd feel much better about everything.
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Isn't that what a market is suppose to do?
If it goes down low and people start to panic, others will buy and it will start to drive the price back up.
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I was referring the bitcoin client where your wallet is stored. If I were to transfer say... 0.01 to my buddy, it says there is a fee involved for keeping the nodes up and happy.
Who gets this fee?
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I'm horrible at writing poetry. If I was better I'd come up with a BitCoin haiku.
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you mean 12 million.  lol yup.  |
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If I were MtGox proprietor I would fake a price spike, sell all 400k coins for whatever I could actually get for them and retire.
432k at around 30usd per coin is almost $1.3mil. Not bad EDIT: 13mil |
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They can't have possibly generated that level of profit yet.
432,000 / .0065 = 66M BTC
Even at a generous average of 50,000 BTC per day traded, it would take over 1300 days to generate that much volume.
[/quote]
That's a valid point. So maybe they are hoarding coin and have figured out how much they need to operate? Still, no withdraws is odd.
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These fees. Whom do they go to? The optional I read is not necessary at the moment but later may increase your priority in the network and speed up your confirmations for transfers.
I did notice that the fee for small transfers while it has gone down recently (0.0005) is not optional. Who gets this? It says it goes to the nodes. I thought each of us were the nodes. Do/will I get a small bit of BTC for keeping my client open and helping confirm transactions?
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That wallet could also be their profit wallet. Mt Gox is probably fairly profitable. Granted their profits are all in BTC.
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I think the key for mining is making back your investment as fast as possible while the BTC is still trading at a fair price and the difficultly isn't too high. Once you make your hardware cost back, everything past that (assuming you aren't paying a ton for power) is just profit. And even if the market did crash and bitcoin had an epic fail, you'd still be sitting on a ton of used gear which you'd be able to sell for even more profit.
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Wow, lots of folk from Portland. I myself am from Bend.
Professional computer geek. My buddy and I found out about bitcoins about a week ago or so. Don't have the hardware for mining. Still super interested in the concept though.
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MtRed has a fresh new look!
True story! I'm liking the new look. Less '90s and a bit more modern. |
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Use strong passwords. Change them on a regular basis. Transfer BTC out on a regular basis. Hope that sites start to use reCaptcha.
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I also have a few higher traffic sites and would be curious if this actually works.
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This would be a great way to sell a stolen car.
It'd be a great way to sell stolen anything I think  |
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Like they said above. It all depends on your hardware. I've got Nvidia gear so mining doesn't make sense unless I want to invest in new equipment. Then it's a question of how fast you can make your investment back before the difficulty gets too high and the amount of coins per block decreases.
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Craigslist is where I have had the most luck. You can usually get deals there easy and people selling on craigslist probably don't know what bitcoins are so they aren't jacking the price up
Decent cards are often sold due to upgrades, so they are probably good. However, many cards are also sold because they don't function reliably [they may pass Furmark and other tests, but still fail in ways that annoy the hell out of you]; these are often cards that have suffered thermal stress, over voltage, whatever, usually as a result of gamer overclocking attempts. Your risk to take. I saw a post a couple of months ago that indicated that up to 40% of the 5970s coming off of Ebay were damaged in some way [whether they remained useful for mining when treated gently I do not know]. Good luck and buy used hardware carefully. Agreed. In the past when I've bought used equipment I've usually made a judgement based on the people. It sounds worse than it is. What shape is their house in. Is their computer covered in dust. Are they just some teenage kid who OCed his stuff like crazy. Etc. The first time bought something off Ebay (LONG time ago) I got burned. Picked up a set of 3 hard drives and 1 of the 3 worked. Lesson learned. Buy new when you can. |
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Think of it more as a science project that has a chance to change the world.
Well said! |
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