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481  Alternate cryptocurrencies / Mining (Altcoins) / Re: Alpha Technology Litecoin (Scrypt) ASIC Miner on: June 12, 2014, 07:33:54 AM
That aside, who is going to buy all of these altcoins on the market when miners inevitably want to wash them away to a more secure crypto or pull out to fiat later this year?
The BTC eco system can't really be used as a case study for asic introduction as by the time FPGAs and ASIC miners were on sale, we already had relatively wide-scale merchant adoption.

The same exact people who are buying them now I assume.  Not really sure why that would change.  At one point I wondered why people would continue to buy shitcoins that were obviously going nowhere, ever, but then, I also thought the same thing about preorders and yet here we are  Tongue
482  Bitcoin / Bitcoin Discussion / Re: Gamblers bet on Bitcoin for anonymous online wagering on: June 12, 2014, 07:23:57 AM
Porn and casino gambling are a big driver for bitcoin and for good reason.

Porn> you pay more anonymously and kids can do it too.

gambling> nobody can prevent you from doing it.

However in both cases the core experience is not changed.

If you play roulette it does not matter if u pay with fiat, sand or bitcoin. you end up losing 3% of what u bet. If you watch porn it looks exactly the same no matter how u pay.

However there is an exception: sportsbetting. Its a skill game but currently most players lose because of the vig. the odds you get are distorted so that the house has an edge. bitcoin allows peer to peer betting without vig so no for many players the game becomes a winning proposition and even losers lose less. that means the game is changed because of bitcoin.

I've explained this a bit more in a blog post: http://knircky.blogspot.com/

I am pretty sure this will slowly disrupt sport betting!

Um, this isn't a sports betting thing.  EVERY game you play is distorted to give the house an advantage.  Where do you think that 3% you mentioned goes in roulette, which would otherwise be a break even game?  Bitcoin doesn't change sports betting in the way you think it does.  After all, you can already do peer to peer betting with FIAT, you don't need bitcoin to do that.  Say you and I place a wager with bitcoin.  I lose.  How are you going to make me pay?  Oh, some third party is going to hold the money for us and pay to the winner?  Well they won't do that for free.  Enter the vigorish.  Now granted it may be cheaper, but it is still there.  And of course such third parties typically provide other services as well such as credit....
Anyways, that is getting off topic.  Bitcoin doesn't really change gambling at all.  What bitcoin DOES do is as someone else mentioned, allows anyone of us to House games.  That's really the only thing They care about.  For all the talk about how gambling is bad, blah blah blah and gambling is illegal here in the USA, the biggest gambling operations are all run by the state.  I can go to any convenience store and purchase tickets in the state run numbers game, drive two hours in literally any direction and be in a legal state sanctioned casino....etc.  Like most things involving bitcoin, they don't care about bitcoin itself, or even what is being transacted, they just care that they won't get their cut.
483  Bitcoin / Mining / Re: A case study in entry-level mining on: June 12, 2014, 05:13:33 AM
With the cloud mining contract, wont this work to profit if BTC rises in price.    So you exchange 100 dollars, you buy a btc and pay them.  They mine 0.9 btc and price has risen to 1000 so you profit ?  
Of course why not just hold plain btc but anyhow cloud could turn a profit.   Right now prices are down many months so theres no profit but its not impossible

I suppose the bottom line might be the contract really pays off when diff rises slower (then expected) or perish the thought if diff dropped.  Then you get a bumper harvest and ideally the price of btc rises later.  Im just supposing what it'd take to profit.

You know its similar with 'real' futures contracts, the vast majority will expire worthless (or less then paid) but that dont make the CBOE a con

There is no set of circumstances where paying 1 btc now to get some amount less then 1 btc later is ever good business sense, barring some very rare and unique situations.  Yes, playing tricks with exchange rates you can kid yourself into thinking you made a profit but it is always a bad business decision. If I buy btc with my 100USD, and you buy contracts (that will yield less total btc) than at the end of the day I will have more btc than you.  BTC could rise to 1000USD like you said, I'll still have more money than you.  The only situation where buying mining contracts could be considered profitable is if they pay out more than they cost.  But they pretty much never do, which makes them a stupid investment. 
They aren't anything at all like futures contracts.  A much better comparison would be to consider them some sort of bond\loan.  With a bond, you have to decide if you want the certainty of the money remaining constant, or are willing to risk a loss to possibly make a gain.  But BTC contracts are like bonds with negative interest rates.  Who in their right mind would give someone 100 dollars now to get paid back 75 dollars later on?  It makes no difference if the purchasing power of the dollar rises, it was still a bad decision. 
And lastly, about the contracts paying off when the difficulty rises slower.  Naturally they would charge a substantial premium during those times.  What you are basically betting on there is that you are better than they are at predicting difficulty increases which seems.....very unlikely.  And even if you are, these things are so heavily padded with profit in their favor they would have to be WAY off for that to work out in your favor.

Tldr, paying 1BTC now to get back .75BTC later is always a bad idea. 
484  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: June 11, 2014, 10:07:10 PM
It says daily payouts, but I have not receive my payout in 5 days.  Any reason for this?  I still have coins stuck in all four stages (immature, unexchanged, etc) and the numbers have no changed at all in almost a week. 

Daily Payouts if your balance exceeds 0.01BTC, payments every Sunday if your balance exceeds 0.001BTC.

Thanks, that explains the lack of a payout.  But what I am concerned about is that I have coins stuck in immature, and unexchanged.  They have been stuck there since this all began about a week ago.  I should clarify, I stopped mining on the site when I noticed this and was waiting for them to catch up with processing before I mined some more.  But now a week later and my coins are still immature and unexchanged.  Sorry to post this here just I didn't see a contact or support button on the website either.
485  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][AUTO-SWITCH] Profit-switch auto-exchange pool: CleverMining.com on: June 11, 2014, 09:40:05 PM
It says daily payouts, but I have not receive my payout in 5 days.  Any reason for this?  I still have coins stuck in all four stages (immature, unexchanged, etc) and the numbers have no changed at all in almost a week. 
486  Alternate cryptocurrencies / Mining (Altcoins) / Re: Zoomhash failed to keep its Promises on: June 11, 2014, 08:50:21 PM
I've placed a number of orders with these guys and never had any problems at all.  They always responded to my messages right away, and every thing I ordered got to me sooner then they said it would.  I don't do all my purchases there because they don't always have everything I want, but I always check them first just because I trust them to actually deliver what they promise, when they promise.  That's been my experience anyway. 
487  Alternate cryptocurrencies / Pools (Altcoins) / Re: [ANN][POOL] ipoMiner - Profitable multipool targeting new coins on: June 11, 2014, 12:34:15 AM
just do a google search barbmc193 btw , for those who ask if I am a big miner. its pretty simple , open google , click on the search button and write barbmc193 . pretty simple , I needed to explain with my very poor and stupid english .

Ipominer you pissed wrong guy , i would recommend to remove that pastebin asap.

Thanks again comunity , open your eyes many scams are trying to take your money just be smart!

Will never post in alts again.

BYE

I know barbmc193 and his hashrate is over the top (over 10gh), he's an experienced, trustworthy  and well known miner and he knows the markets and pools, so, he knows what he's talking about.


He's also a self entitled douche, so there's that.  Incidentally, what you say may in fact be true, but I find it hard to believe someone that experienced doesn't seem to know how a multiport works. 
488  Economy / Service Announcements / Re: HASHRA - LUNAR LANDER & LAUNCHER - ASIC SCRYPT MINERS 14MH+ - 78MH+ on: June 11, 2014, 12:32:26 AM
You would need to lower the voltage going to the chips to find the most efficient ratio of power input to hashrate output... It seems efficiency is really becoming the name of the game. Ahhh the old days when only the hashrate mattered.... moar moar!!!

I'm guessing their design was just messed up.  Consider, One of their 1.3Mh/s units was originally slated to do 1Mh/s at 12 watts, at 280Mhz.  The finished product does 1.3Mh/s at 328Mhz and consumes 45ish watts.  Underclocking it to 280Mhz or even lower does, at least in my experiments, virtually nothing to reduce power consumption (maybe 1 watt).  Of course undervolting it would reduce consumption but I have to assume they tried that and were not able to get it stable at anywhere near 1Mh/s, or else they would have done that to begin with. 
Of course, this is the Zeus machines, but the Hashra devices are using the same chips just in different multiples, so outside of 1-2 percent differences they have the exact same issue. 
489  Bitcoin / Mining speculation / Re: calculate the profit with the cost of renting the rig? on: June 10, 2014, 11:50:41 PM
greetings all,

I want to rent a rig for mining, I want to ask, whether to rent the rig will always lose?

and how to calculate the price of the rental cost of the rig with a good coin to us quarry?

I am not sure what you are asking.  Are you asking if renting a rig will lose money?  Well yes of course it will, barring some unusual set of circumstances.  If I have mining equipment that will mine say, 1BTC per day, I'm not going to rent it to you unless you give me MORE that 1BTC per day right? 
490  Economy / Service Announcements / Re: HASHRA - LUNAR LANDER & LAUNCHER - ASIC SCRYPT MINERS 14MH+ - 78MH+ on: June 10, 2014, 11:20:07 PM
At clock speed 291, LL hashes about 12.8mh/s, 444 watts, still 6% HW errors.

Also, < 1% rejects on clevermining.

I don't have a power meter, could you try at 10.4mh to see what the power use is compared to gridseed blades?  And are you using original firmware, or the upgraded one availabe?  I haven't upgraded myself yet because jjj0923 said there was some kind of problem with it.

I took one of the Zeus 1.3Mh/s machines down to stock speed of 280mhz (the default OC is 328 I believe) and it was still pulling 50 watts from the wall on a platinum PSU.  Consider that 8 gridseed blades pull 737 watts from the wall on the same PSU yet will do 45.6Mh/z at 838mhz and you see the problem.  What would it take on one of these things, around 1600ish from the wall to get similar performance?  It isn't a clock issue, or a firmware issue, or a configuration issue the chips in these things simply pull way too much power.  There is no way around that. 
491  Economy / Service Announcements / Re: HASHRA - LUNAR LANDER & LAUNCHER - ASIC SCRYPT MINERS 14MH+ - 78MH+ on: June 10, 2014, 07:56:08 PM
They aren't the only ones selling the A2 machines, in any case.
492  Economy / Service Announcements / Re: HASHRA - LUNAR LANDER & LAUNCHER - ASIC SCRYPT MINERS 14MH+ - 78MH+ on: June 10, 2014, 07:06:22 PM
Finally got my unit today.  

501 watts on an EVGA gold PSU.  

It is indeed hashing over 14mh/s, but I can't achieve that poolside.

What diff setting are you guys using?

Will lowering the clock speed reduce HW errors?  Mine is about 6% HW errors after a half an hour.
dont you think 2 oced gridseed blades will do the same rate with less power and h/w errors for the same price.  Huh

hmmm...

what do they advertise the OC blades at?

good question..

I have five blades running standard speed and they're hashing at 28 mhs - 400 watts...

the best price you an find now is on minereu.com

you'd have to do the math power consumption wise . my elec is 12.6 per kilowatt hour


its better if we can get unmodded ones and mod it ourselves. it can easily achieve 6.5~MH/s by replacing the 33k resistor with slightly higher one and 7 MHz+ with a higher resistor and proper cooling.
power consumption 150W~ at 6.5MHz

so it's almost doubles power consumption for an 15% increase in hashing speed.  think it's worth it?
stock blade needs 120~W from wall right ? so there is no much difference.
also still better than HASHRA miners

the stock Blade uses 64 - 70 watts per panel so two panels = 140 watts.

multiple that times 5 and you've got 700 watts for 28 MH.

the most efficient unit out there is the A2mini from MinerEU at 250W



Blades don't use anywhere near that much power despite what they say on the website and the box. They pull about 90ish watts from the wall (total, for both panels).  On a per Mh/s basis, they use about twice as much as the A2 machines, and half as much as the Zeus machines.  
Really the Hashra machines are not impressive at all.  They use a ridiculous amount of power, and who knows when you will actually get them.  They are a bit cheaper though so there is that.  Even so though, here in the USA you can't even run one on a standard household AC circuit.  Which means you have to host them, which means they aren't actually cheaper.  
493  Economy / Computer hardware / Re: [WTS] Gridseed Blades x2 -- Today Only -- USA Only on: June 10, 2014, 05:16:23 PM
PM sent.
494  Economy / Computer hardware / Re: A2 Terminators 85,000KHs~90,000KHs Scrypt ASIC In Stock and Ready to go. on: June 09, 2014, 09:05:22 PM
Dedicated to fair prices and good service. We are legendary on this forum. Please search this forums for our reviews on this forum.

http://zoomhash.com/collections/top-sellers/products/88-000khs-95-000khs-a2-scrypt-asic-stock-in-hand

Not sure about the fair prices with over a >= $2,000 depending on how fast you want a used machine when you can order directly from innosilicon.

1. $12K per 86Mhs machine if only order one samples with early bird delivery
2. $11K per 86Mhs machine on average if order 3 machines within 14 days accumulatively
3. $10K per 86Mhs machine on average if order 10 machines within 14 days accumulatively

Innosilicon

More importantly, the prices are the same as they were a month and a half ago.  But obviously the machines aren't worth as much as they were a month and a half ago. 

We work on small margins and the payment options we offer costs money. Regardless, where do you think the price should be?

Well the innosilicon machines became available in the US mid to late May for 11k each.  At the time they had no competition other then the Gridseeds.  Since that time Zeus, Hashra, GAW have all released much cheaper miners.  Difficulty is now twice what it was then.  And we're a month and a half closer to the real big miners coming out (KNC for instance.  It is likely that at least one of the big miners will actually come to market and of course it doesn't have to be released to customers for it to kill difficulty). 
Realistically, based on difficulty alone they should be selling for half what they were on release.  And yet they are still full price. 
Please note I realize this is probably not something you have much control over, innosilicon charges what they charge.  But since you asked....
495  Economy / Computer hardware / Re: A2 Terminators 85,000KHs~90,000KHs Scrypt ASIC In Stock and Ready to go. on: June 09, 2014, 06:36:08 PM
Dedicated to fair prices and good service. We are legendary on this forum. Please search this forums for our reviews on this forum.

http://zoomhash.com/collections/top-sellers/products/88-000khs-95-000khs-a2-scrypt-asic-stock-in-hand

Not sure about the fair prices with over a >= $2,000 depending on how fast you want a used machine when you can order directly from innosilicon.

1. $12K per 86Mhs machine if only order one samples with early bird delivery
2. $11K per 86Mhs machine on average if order 3 machines within 14 days accumulatively
3. $10K per 86Mhs machine on average if order 10 machines within 14 days accumulatively

Innosilicon

More importantly, the prices are the same as they were a month and a half ago.  But obviously the machines aren't worth as much as they were a month and a half ago. 
496  Economy / Computer hardware / Re: {WTS} ASIC Mine on: June 08, 2014, 08:05:25 PM
What sort of price are you looking to get?
497  Bitcoin / Bitcoin Discussion / Re: Bitcoin Almost Legalized in Califonia on: June 07, 2014, 06:40:49 AM

Alternatively, the recognition grants a certain legal status to Bitcoin.  For example, if someone were to mug you on the street taking only your Bitcoin (hypothetically), to you and I there was a crime committed.  


the good thing of calling it a asset instead of money, is that if stolen it is classed as a theft of personal possession. like stealing a phone, car, TV etc. meaning cops DO NOT need to contact special financial crimes departments to take over the case. all they need to do is arrest the thief.

also you can take your loss to a debt collection agent and get them to deal with it as another option, but losing 'money' causes too many government agencies to be involved and is harder to prove. so police are less then likely to chase after someone that has stolen 'money'

What?  This isn't true at all.  Some guy walks up to you, puts a gun in your face and demands your wallet.  The police don't contact some special financial crimes department to investigate because it involves money.  Where are you getting this from?  And what does a debt collection agency have to do with anything?  

In any case as I tried to mention earlier the US Constitution specifically grants the US Congress the power to establish currency.  The state of California does not have any legal jurisdiction here whatsoever.  They can pass whatever law they want, it doesn't actually mean anything.  





I see your argument.  But, consider this.  A few states have legalized marijuana.  Under federal law it is still completely and utterly illegal to buy/sell.  Federal authorities do not enforce all federal laws pertaining to marijuana in states that have legalized said substance.  States rights frequently trump federal authority when in the best interest of justice.  

How does this relate to Bitcoin?  A state in the union is superseding federal authority yet again.  Ultimately it will come down to how the AG in California decides to pursue defying or siding with federal guidelines.

Generally speaking federal law always trumps state law, except in cases where the federal government decides not to pursue the matter, as in the cases you mentioned.  The US Supreme court has ruled consistently that the federal government has the authority to control drug use in the states if it chooses to (not withstanding the fact that any "common reading" of the Constitution fails to turn up any authority to do so).  I can't off the top of my head think of a single case where the courts ruled that state law superseded federal law.  And given that it is Federal court that makes such rulings, it seems unlikely that they would ever rule against themselves.   In the drug situations you mentioned, the federal government decided not to pursue enforcement of those laws in those states.  The laws are still there though and who knows when or if they might choose to enforce them later.  In any case though these are two completely incomparable things.  In the case of drugs, the federal ban makes the default position, possession is illegal.  The state laws you mention attempt to reverse that position and make it legal.  In this case, we are talking about something that is already legal.  You can use bitcoin all you want in the state of California already.  They would have to pass a law that actually did something for any of this to matter, and if they were to do so and anyone were to challenge it, a "common reading" of the Constitution easily turns up evidence that they do not have the authority to decide what is and isn't money.  

498  Bitcoin / Bitcoin Discussion / Re: Bitcoin Almost Legalized in Califonia on: June 07, 2014, 02:43:43 AM

Alternatively, the recognition grants a certain legal status to Bitcoin.  For example, if someone were to mug you on the street taking only your Bitcoin (hypothetically), to you and I there was a crime committed. 


the good thing of calling it a asset instead of money, is that if stolen it is classed as a theft of personal possession. like stealing a phone, car, TV etc. meaning cops DO NOT need to contact special financial crimes departments to take over the case. all they need to do is arrest the thief.

also you can take your loss to a debt collection agent and get them to deal with it as another option, but losing 'money' causes too many government agencies to be involved and is harder to prove. so police are less then likely to chase after someone that has stolen 'money'

What?  This isn't true at all.  Some guy walks up to you, puts a gun in your face and demands your wallet.  The police don't contact some special financial crimes department to investigate because it involves money.  Where are you getting this from?  And what does a debt collection agency have to do with anything?  

In any case as I tried to mention earlier the US Constitution specifically grants the US Congress the power to establish currency.  The state of California does not have any legal jurisdiction here whatsoever.  They can pass whatever law they want, it doesn't actually mean anything.  



499  Bitcoin / Bitcoin Discussion / Re: Bitcoin Almost Legalized in Califonia on: June 06, 2014, 11:00:59 PM
I'm not really sure what this means, or rather, if it means anything at all.  I'm not an attorney nor do I play one on the internet, but as far as I know US citizens, including those in California, do not need permission from the state of California to use bitcoin.  So it would be a little like California passing a law that says it's legal to watch TV.  That's nice and all but doesn't really mean anything as you could already do that anyway (actually, if I were a citizen of California I would be somewhat concerned that the state thinks the default position is something is illegal until they grant permission but that is a topic for another day).  
What would be useful for tax purposes at least would be if it was declared actual currency, but then the state of California does not have the authority to do that (the US Constitution is very specific, and the Supreme Court has consistently ruled, that only Congress can do that).  
500  Bitcoin / Hardware / Re: Novello Technologies new Mining System Project, prices as low as $0.3/GH on: June 06, 2014, 09:15:31 PM
Anyone still not convinced this a scam?

OP has written a short novel worth of vague evasive answers.

Tons and tons of claims and literally not a single peice of evidence.

This "ipo thread" consists entirely of 50% bold unsubstantiated claims, 25% self contradiction, and 25% ignorance regarding bitcoin/mining.

Even if this "team" is capable of designing/producing such an asic, they have demonstrated extreme incompetence on the business/PR side of things.


My final evaluation:

90% chance it's a scam
5% chance it's a real company which fails to deliver anything
4.9% chance this company delivers underperforming/delayed hardware

0.1% they deliver on time/on spec (being optimistic here)

Well, I delivered a challenge to you, bully boy. You seem to have ignored it, Strange that you jump on all our other posts but wait until we go offline to deliver your usual prose. I'd really like to meet you in person to see if you actually have something constructive to say about anything instead of being critical of everything that doesn't suit you.

But I guess you'll come up with some excuse, won't you? It's a shame because you seem so determined to prove us wrong. I'm actually a bit disappointed that you don't still rate us at 100%, it gives me a lot less of a challenge, and I like challenges - I'm a real engineer, after all.

No one here has to prove anything.  Last I checked, he wasn't asking you for 4.2 million dollars.  You're asking for 4.2 million dollars with no strings attached, no contract guaranteeing delivery, no nothing, and the only thing you can do to respond to that is attach the people who question it, and make ridiculous claims about our ulterior motives.  At least the bums on the street who ask for free money don't pretend they will eventually pay it back.
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