But I don't ever see any of them making such a huge stride in decentralized crypto currency development to steal any of Bitcoin's market share. Eliminating the need for hashing power to secure the network might be one way. Each flavor is spawned from someone's greed, fear, curiosity, pride and list of other emotions. My idea is spawned from detesting the moral ambiguity of bitcoin. (see sig) The majority of the people that invest time and money into someone else's crypto-currency shceme are usually in lottery mode. That's because each of the "successful" forks are based on the same, pyramid-like system. The more people that become a part of this project that realize currency is a tool not a "get rich scheme" the more successful it will be. The problem is that it was designed this way to attract those who think they will get rich. How are you going to change it? Hi Comrade. I read your encoin proposals. Good luck. Wish you the best. I really do. But I'm not the least bit interested. The problem is that it was designed this way to attract those who think they will get rich.
Not true. Those with a lot of money did a pump and dump (not sure if it was intentional) and it attracted those that want to get rich quick. This can only be countered in a free market by more savy Bitcoin investors that don't fall for it. Those that dump a lot of dough will be the ones that loose down the road. How are you going to change it?
Through influence and education. Most do not have the patience for that, but the only alternatives are tyranny and force. |
|
|
|
Any chain prefering a single piece of hardware will just cause miners to purchase it instead, better cpu mining? stock up on dual and quad socket server boards, better gpu mining? get some radeons. It's not leveling any playing field the same people that could afford a pile of graphcis cards can afford a pile of xeons or opterons (depending on which arcitecture deals with it better)
+1 As soon as real money becomes involved. It is a game changer! But maybe litecoin was more for just fun and not a widely used successful currency? |
|
|
|
|
I completely support alternate currencies and their experimentation.
I wish them luck and I do follow their developments from time to time out of curiosity.
But I don't ever see any of them making such a huge stride in decentralized crypto currency development to steal any of Bitcoin's market share.
Each flavor is spawned from someone's greed, fear, curiosity, pride and list of other emotions.
The majority of the people that invest time and money into someone else's crypto-currency shceme are usually in lottery mode.
They will mine that currency until another becomes more lucrative and then bail.
Most of my time is invested in Bitcoin and all of my fiat for crypto-currecy investing goes to Bitcoin.
All my mining hardware is dedicated to bitcoin. Not looking to become rich or make a quick buck, but I just want to add solid support to a technology that I firmly believe will continue to work for the long run. I do not gauge its success on its price - it is already a huge success. The more people that become a part of this project that realize currency is a tool not a "get rich scheme" the more successful it will be.
|
|
|
|
Thanks Guys. I really needed that laugh  |
|
|
|
Thanks. That was a great explanation. |
|
|
|
just wondering, what price did you buy it at?
Paid ~$700 Selling it for $595 |
|
|
|
|
Having difficulties understanding merged mining between NMC and BTC.
What does it mean? There has been little information posted about how it works.
Does this mean the Namecoin currency and DNS information is now part of the bitcoin blockchain?
Or does it mean solving a bitcoin block simultaneously solves a namecoin block?
If so, how does that work?
Appreciate the time for your answers.
|
|
|
|
|
Thank OP,
Even though I realize prices could go lower before they go higher, I still shake my head in amazement of what we truly have here.
I cannot stop thinking of what I can do to make it better. Where do I fit in?
There's so much potential. I have so many great ideas that I don't know where to start.
|
|
|
|
|
I bought a new card and had second thoughts. It is brand new and purchased from new egg.
I live in Phoenix Arizona and its already too hot with my current miner.
New egg has a 15% restocking fee.
Would anyone like a 6990 for 15% off?
If not sold by Monday, I will be returning it to New Egg.
it would be a bitcoin purchase of course.
Thanks
|
|
|
|
|
YES YES YES. I want one, but with a bitcoin symbol!
Please make the one with a bitcoin symbol only purchasable in bitcoins to help the community.
There's nothing more cool that showing stuff to my friends and to tell them the only way to get it is with bitcoins.
|
|
|
|
|
Awsome,
Thanks for sharing and good luck.
Do you make these yourself?
Could you CNC a Bitcoin symbol?
Will you offer fuse?
|
|
|
|
When you have an adapter where you can stack multiple FPGAs on top (or next to) of each other using the same communication board - then I'm ready to buy more than one. I don't think you need any adapter however you can't just stack FPGA you can only stack boards. The board has 4 screw cut outs. Using standoffs (like what you mount motherboard with but longer) longer than the heatsink you could build a "tower" of these. Might be better to turn them on their sides though and use a different heat sink which blows air across the heatsink not "up". If what you were talking about is a board that had like 4 sockets that you could buy & plug in multiple FPGA that is interesting idea however that makes the cost of 1 FPGA higher (due to unused overhead) which likely means you need much bigger market to support that. I was referring to both ideas. I really like idea of stacking them on top of each other with small heat-sinks sandwiched in that you could have air blow through. Here's an example: http://www.microchip.com/stellent/idcplg?IdcService=SS_GET_PAGE&nodeId=1406&dDocName=en535770Notice the male connector surrounding the IC. What if you had that on an FPGA board with the ability to stack multiple ICs? Each IC would be soldered to one of these for stacking https://bitcointalk.org/index.php?topic=44891.0Maybe there are design limits that would make this unfeasible, but it seams you should be able to stack at least 2 additional ones with a board design that supports it. Unless someone can convince me that it is impossible, I will be holding out on buying multiple of these. I really do like the featured product on the OP; it really shows that we are evolving fast which makes me very excited. Edited for typos |
|
|
|
so... no way to buy these using BTC?
+1. OP should make this an option. Support the community you are trying to profit from (don't get me wrong profits = good) just support the community. I would buy one w/ BTC next month. As I wrote above, BTC orders are possible on request. Please use the contact form of the shop: http://shop.ztex.de"BTC orders are possible on request" And the community is requesting that you don't have to request. I also want to purchase in Bitcoin, it's the only way to go. Btw, do have a donation address? I would like to donate to your work. I don't think I'm ready to buy one yet because it is not quite where it could be for it to be a competitive miner. When you have an adapter where you can stack multiple FPGAs on top (or next to) of each other using the same communication board - then I'm ready to buy more than one. Thanks |
|
|
|
Just curious, is your design open source or is this a for profit venture?
Hardware is for profit. Software is both, Open Source and for making profit with hardware. Would you consider a discount to those that wanted to put it together themselves? You could offer a few options: 1)Just the Board 2)Just the Board + components 3)Completed Board (already offered) Thanks |
|
|
|
|
Ztex. Very nice work. Thank you for sharing.
I'm kind of shocked on the "warm reception" you received.
There are many enthusiasts out there that I'm sure would buy one of your boards.
I'm one of them.
Just curious, is your design open source or is this a for profit venture?
Fine if it is, but just wondering.
|
|
|
|
Here is something that might help you: World-wide price for generating 1BTC Anyway, good luck with that. Just let me tell you that what you are proposing sounds unrealistic because 1) the $/BTC can't be calculated accurately and 2) speculators couldn't care less about that. I knew there were people already a head of me on these thoughts. I didn't want to spend the time "re-inventing the wheel". Thanks for the Link. |
|
|
|
I guess at some point we'll find out how many people really, truly are getting "free electricity".
Yeah, seems like a much larger number than I expected. Oh, I don't think the current hashrate is indicative of that just yet. The hashrate is decaying slowly; once it stays still for a whole week I'll start to try to infer things from it. One factor behind the slow-as-molasses reaction to price is that there are also a lot of people who bought these silly 6-month "mining contracts" with some company that warehouses the machines. The customer has basically paid for 6 months worth of electricity in advance, even if that electricity is now being basically wasted. The mining company doesn't want to let the customer out of the contract because at this point they'll never get anybody else to take their place, and the capital cost situation would be even worse for them than it already is. So the completely wasteful mining goes on and on... but eventually it will stop. Unfortunately BTC is still a currency in search of an economy..
-rph
I'm unaware of the mining contracts. Where does one go to buy them? How many have been sold? How much time before they expire? thanks. I'm also watching the total hash rate. When stabilizes as well as the price, would be a good investing moment in my opinion. Ah, just wait... |
|
|
|
Many economists have argued against bitcoin's adoption as a money because while it could be a medium of exchange, unit of account, and store of value, bitcoin did not originate as commodity. Many have argued that this historical property is not necessary, others like me have argued that a scarce bitcoin derives value from the transactional service that bitcoin makes possible, while others claim that the computational power required to validate the transactions back up the digital commodity. Few are confident with these assertions and therein lies the problem.
+10. Very good observation. Bitcoin's "industrial value" is its ability to act as money better than anything else (Except stability; however, that's completely offset with the ability to take it to market anywhere in the world very quickly - so that doesn't matter) Their criticism on bitcoin "not being a physical commodity so it can't be money" is hypocritical; just look at the price of silver and gold: it is valued way above its current industrial demand. By their same logic, the high prices of these commodities should also be demonized. (Note: I also invest in PMs.) I have not yet come up with a way to merge useful computational proof-of-work with validation (hash < target), but I believe if an elegant solution (both economic and technical) were discovered, bitcoin would be unstoppable.
The idea of discovering other uses for Bitcoin is a great idea and would surely contribute to its success; however, changing the computational algorithm is a dead end in my opinion. Don't want to sound negative, but would like to encourage you to focus your energy else where more productive. I think potential ideas should start with the obvious: Bitcoin is the most distributed, open, and secure active database the world has ever seen that has no central authority - That is extremely valuable. We just need to discover all the services that would benefit from this and put them into practice; currency is the obvious one. I think namecoin was a great start, but I find it tragic that they had to create an alternate currency. They should have just integrated these services into Bitcoin and start managing DNS addresses with the same block chain. Just look at Verasign - it's a Billion dollar company with central control over these services. Just imagine the same services at a cheaper rate but with no central control. That's huge! The negative to that is it would increase storage requirement for the block chain, but I'm sure we would figure out all the necessary solutions now and in the future. The positive is it would increase confidence that the block chain will live on after all 21M bitcoins have been generated. |
|
|
|
|
I want to provide a service that gives the bitcoin community an idea of the mining $/BTC average.
It would be a report given every month that would delve in the world of mining and at the end give a
good estimate of the average money the miner spends to generate bitcoins.
One of the reasons I believe the price got so unreasonably high was so many investors neglected the importance of $/BTC mining costs.
My goal is to successfully start a trend where BTC prices are almost always quoted with the average $/BTC mining costs.
Compared to Silver and Gold, Bitcoin has a very unique relationship with mining operations.
Before I do my first write up, I would like to bounce some of my ideas off the community and ask for help.
I will be updating this thread.
For starters, Here is what I would like to ask help with:
1)Links to all the other similar posts - I know there's gotta be a half dozen of them; no need in re-inventing the wheel. [1 BTC bounty to the first post containing them all]
2)The best rig for the buck without sacrificing too much quality. Damaged cards from a cheap Power supply or downtime because a cheep mother board should be taken into consideration.
[Another 1 BTC bounty for the best rig submitted with price totals and links to the online computer stores]
Thanks again.
|
|
|
|
|
Nice observation and analysis to the OP.
If it is not a bubble then what is it?
I say it was a "pump and dump". We've been played by those that have a lot of money.
Maybe it wasn't intentional maybe it was.
I'm still convinced the number 1 weakness of any decentralized digital currency
that is adopted at the grass roots level is its reaction to huge investments relative to the current size of the economy.
The best we can all do moving forward is learn from the experience and profit in the future if it happens again.
Sell high and then short it to drive it back down to sane levels avoiding a long agonizing experience.
Here comes early adopter generation II.
|
|
|
|
|
Show Posts
