Latest posts of: devt

Quote from: Beliathon on March 30, 2014, 01:27:10 AM

Quote from: pungopete468 on March 30, 2014, 12:33:49 AM

"If you don't own the private keys to the wallet containing Bitcoins, you don't own Bitcoins."

Put your BTC in brain wallet. Tell IRS "I don't have the private keys to that address".

Impossible for them to legally prove you are the owner of those BTC.

You pay no taxes.

You pay no taxes as long as you don't use it to buy something, which is the same as not having any BTC.

Getting payed in BTC would mean that every coworker and the company would know how much you have and what you spend it on. Bye bye privacy.

I see there is a lot of estimated unexchanged balance since yesterday, about half of total. Is this another dead coin or maybe just unresponsive exchange api?

I don't see ops image, but I just want to say that if it ever comes to a situation, where a few people control most of the miners, people would notice that long before. And they would do something about it.

Quote from: coradan on March 23, 2014, 11:04:35 AM

Who are mining currently, do it with the hope that the Altcoins are revalued in the future to obtain the ROI.

Nope, electricity does not cost the same everywhere. Also some people have a flat rate monthly electrical bill.

And the problem with your idea is that you have to wait 1 year to get profit. The coin could die during this time, then you get nothing.

From what I understand, what is(was) hard to build is a cost-effective scrypt asic. GPUs are cheap because they are being built by the thousands already.

Creating a new chip means someone has to design it, test it and then produce it as cheap as possible. Otherwise you get too expensive units, which no one will buy.

Quote from: ThePeePs on March 21, 2014, 02:13:05 PM

I think there's also one other factor that hasn't been mentioned yet. You also have to take into account the network hash rate of the coin, and how lucky/well the pool your in is doing in that coin. From my own experience in the last few months of mining, this varies greatly coin to coin, and even pool to pool in the same coin. The only real way to compare algo's IMO would be for two coins to have the same network hash rate divided exactly the same over the same pools. The coins would also have to have the same block payout and block target times too, or it wouldn't be a accurate comparison.

No, you can just compare the BTC that you would get when mining and trading that on an exchange.

If someone knows what is more profitable, they probably wouldn't say it right?

Anyway IMO all these coins with different algorithms will be worth more once more (powerful) asics come.

Energy is there to be used. If you think that every bit helps, then stop driving a car, stop using a computer, use candles instead of light and so on. Because if you don't you are just a hypocritical hippie.

Reminds me of people who buy lots of RAM, then do everything to make sure the computer never uses more than 10% of it...

Quote from: DrBitcoin on March 14, 2014, 01:42:41 PM

I see that there is a big unification towards the "millibit" terminology, but I think that is too confusing for the average person. In the united states, we have resisted switching to the Metric system because "it's just too damn confusing." (which is insane, because inches and feet are arbitrary. We should have switched to the metric system ages ago.)

Maybe the average person in US. But fortunately, everybody else uses the confusing metric system and since bitcoin is a global currency that just seems fair. Besides, you don't have prefixes in imperial system (at least afaik) and no one wants to own 50 foot bitcoins.

.50 cal sniper, in case the burglars come in an apc.

Quote from: S4VV4S on March 18, 2014, 07:50:04 AM

MtGox is allowing users to check their balance now.

Seriously is Mark really trying peoples patience?

Is the site legit? I don't want to give my password to any hackers.

Any plans on making accounts and ability to select which coins to not auto-trade?

But 1.25x is still more than 1x. Either way I'm not staying there after the promotion because of how they operate.

Quote from: VirosaGITS on March 15, 2014, 05:01:02 PM

There's a big problem with small miners for ghash. They charge me 0.001btc to withdraw funds. Minimum 0.01 withdraw amount. So if you have like 1mhs and want to be paid every 2 days or so, thats about 10% fee on your total hashrate.

Fees that have different impact whether you're small or big could be a good thing to note

Why would you want to withdraw so many times and loose coins on transaction fees?

I think if too many asics start to mine, people would just switch to asic-resistant currencies with different algorithms like vertcoin or something with scrypt-jane, wouldn't they?

Quote from: VirosaGITS on March 13, 2014, 11:26:57 PM

I went to cex.io/r/0/Virosa/0/, registered, clicked the ltc tab, was easy to setup and i apparently already made a small fragment of a LTC.

I saw there was some flame about Ghash because they were going to get 51% of BTC miners. Are they trying to get monopoly on LTC by paying 200%?

So far it seem legit, you can easily withdraw LTC balance and the khash and payout seem to be instant/whenever requested.

Is this too good to be true?

Nope, newly registered users have to wait 48h to withdraw. It might not seem long, but it's just stupid.

Quote from: tsumeone on March 14, 2014, 06:05:10 AM

I tried mining here but my rejects have just been creeping up to the point where it is not worth it. Started at an already high ~5% for the first few days, almost 8% now. Was getting ~2% on Wafflepool. Add the lower Waffle fees in there and I don't think the profitability is higher enough (or really at all) on this pool to make up for that.

Also tried sgminer like someone here recommended but I got the same reject % with less kh. Guess it's not the savior of mining programs like they made it out to be.

But wafflepool doesn't let you keep any coins right? At least for Doge and LTC, I wouldn't want to sell them now.

I have some questions about PoS. So if I understand it correctly, I will get 1% of any coins that stay in the wallet for 30 days or more, is this correct?
Does the wallet need to be running for 30 days for it to work?

If you get 0.0754 btc/mh/day you must be really lucky, or did you forget one zero?