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1981  Economy / Economics / Re: [POLL] What's your position on gold (and return)? on: July 12, 2013, 09:41:59 PM
You should make it so people can choose multiple options.
1982  Economy / Speculation / Re: Bitcoin Bubble Burst A Good Thing? on: July 12, 2013, 09:10:03 PM
@yock: I hope so!
@Explod: I see what you're saying. If you are holding the currency of any certain system, you are a "bearer" of wealth. What I meant was that I didn't want a single bitcoin to become worth the price of gold or something. I just feel like if that were the case, all BTC would be stores of wealth. The issue that I have with that is it would be such a waste-bitcoins were designed to be a form of currency, and had special utility. It would just be such a waste if they became hoarded like gold-their unique utility would be helpful in most every-day transactions; I think Satoshi wanted to develop a new currency/monetary system, not units of "1" costing hundreds or thousands of dollars. 

Then you'd think he would have made more than 21 million of them! Tongue

Fortunately, this can be fixed client-side without changing the protocol: just go into your Bitcoin-Qt settings and tell it to display mBTC. The number of zeros displayed is completely arbitrary and up to you. I realize it's cumbersome to say "millibitcoins" for now, but so is "New Peso" - because of inflation and deflation, the common vernacular has to adapt periodically or else get stuck with too many zeros in one direction or the other. There's no way around it, even for gold-backed and fiat currencies.

You seem to be implying that in order for bitcoin to be a store of value it has to be held in round numbers.  I don't get it.
1983  Economy / Economics / Re: Why is bitcoin price not going up? on: July 12, 2013, 08:59:14 PM
Have you seen how fast gold has increased the last few years? Everyone says its just going to go up. Its also a very safe investment. If you hold on to your gold for a while, your not going to lose money.

It depends when you buy. for example: http://www.xe.com/currencycharts/?from=XAU&to=USD&view=1Y there were and will be many timeframes which are bad times to buy or hold gold, hence part of your statement is false.

Anyhow, I have some gold, I call it the armageddon fund Cheesy

If the time comes when I need to use precious metals to get something or survive then the value expressed in USD will be rather irrelevant Smiley

If someone trades frequently then paper gold is OK. if you want to hold it long or indefinitely then it's quite irresponsible to have in my opinion.
I also don't like the fact that the quantity of the actual physical gold is less than what is speculated on. But correct me if I'm wrong.




Yes, if you want gold for fear the world will collapse, physical is the way to go. For most anyone else, the paper version has all the same merits and is convertible to cash without even leaving your computer.

I wonder what you mean about amount of physical gold vs what's speculated?

No need for the world to collapse.  If your broker, or the paper gold issuer goes bust, you will be SOL.
1984  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 12, 2013, 08:47:38 PM
I appear to have measured the wave's length wrong, and the support breached, so I don't really know what will happen now.
https://www.tradingview.com/x/j6KHvNMt/

That chart conveys my feelings perfectly.
1985  Bitcoin / Hardware / Re: Pictures of your mining rigs! on: July 12, 2013, 08:45:10 PM

You're really going to argue using a 8 inch model of an X wing?

For anything with motion, K'nex wins.  For anything structural, K'nex wins.  I'll give the detailed modeling to Lego, but it is only because they make custom parts for each model.

Besides, if you want to show Lego is bigger and better you need something like this:


Edit: Oh shit, those are people.  I withdraw my first sentence, but once again custom parts for each model Tongue.
1986  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 12, 2013, 08:21:19 PM
BTC lending rate on bitfinex is 80% (annual basis). Never seen it above 5% before.

Interesting. Did people just discover they can short on bitfinex?



I don't know, but based on total USD borrowed/total BTC borrowed, leveraged traders need the market to fall to $81 to even out their positions.  Continued upwards movement will cause a short squeeze.
1987  Bitcoin / Hardware / Re: bad Block Erupter? on: July 12, 2013, 08:07:48 PM
I advice you to try CGMiner 3.1.1 first, and configure them using -S /dev/ttyUSBx, without direct libusb access.

Check also that the BE receives enough power.

My two bitcoincents.

It wouldn't hurt to test your power brick if you have a multimeter, but the dmesg errors are not caused by an incorrect version of cgminer.
1988  Bitcoin / Hardware / Re: Pictures of your mining rigs! on: July 12, 2013, 08:00:51 PM

I need a 3D printer yesterday.
1989  Bitcoin / Pools / Re: Help me pick a pool on: July 12, 2013, 07:59:31 PM
If you want to transfer bitcoins from one place to another, such as buying something time critical if you include a transaction fee people generating blocks will, most likely, include your transaction quicker if you offer a transaction fee.  At some point in the future transaction fees will surpass the block generation reward.

So pools that share transactions will add that to the 25 BTC block reward.
Sam

So OZcoin pays the transaction fee to get BTC transferred quicker? Quicker is nice but that doesnt seem to be a good reason to pay 1% vs 0%. I also noticed maxbtc does not support ASIC. Am i wrong to assume eclipse is the best pool?

No, OZcoin pays you the transaction fees for transactions included in the block.  Many pools only pay out the subsidy (25 BTC) and keep the transaction fees for themselves.
1990  Bitcoin / Pools / Re: Help me pick a pool on: July 12, 2013, 07:57:50 PM
One pool sounds easiest. Easy is nice. But im wondering what pays more. Should i one pool or multi pool? Im guessing opinions will vary but im sure there are facts behind the opinions.

In my experience, p2pool will have the best payouts if you have a better than average setup (no fees, transaction fees included in payouts).  Multiple pools will not increase your payout (with the exception of pool hopping on the few pools that are still vulnerable to it, but that's a different conversation), it will only lower your variance.  With multiple pools, you will effectively spend 1/X of your time with X different pools so it evens out the luck.

Even if you intend to only mine on one pool, you should set a failover pool in case your chosen pool goes down for any reason.
1991  Bitcoin / Pools / Re: Help me pick a pool on: July 12, 2013, 07:49:17 PM
I noticed my avalon has the option to mine with multiple pools. Is that mining with multiple pools at once or just switching to another pool when your main pool is down?

Your Avalon is using CGMiner.  The CGMiner thread top post and the readme explain the mining strategies.

----------------------Readme-------------------------------------------
MULTIPOOL

FAILOVER STRATEGIES WITH MULTIPOOL:
A number of different strategies for dealing with multipool setups are
available. Each has their advantages and disadvantages so multiple strategies
are available by user choice, as per the following list:

FAILOVER:
The default strategy is failover. This means that if you input a number of
pools, it will try to use them as a priority list, moving away from the 1st
to the 2nd, 2nd to 3rd and so on. If any of the earlier pools recover, it will
move back to the higher priority ones.

ROUND ROBIN:
This strategy only moves from one pool to the next when the current one falls
idle and makes no attempt to move otherwise.

ROTATE:
This strategy moves at user-defined intervals from one active pool to the next,
skipping pools that are idle.

LOAD BALANCE:
This strategy sends work to all the pools to maintain optimum load. The most
efficient pools will tend to get a lot more shares. If any pool falls idle, the
rest will tend to take up the slack keeping the miner busy.

BALANCE:
This strategy monitors the amount of difficulty 1 shares solved for each pool
and uses it to try to end up doing the same amount of work for all pools.
---------------------------Readme Not-------------------------------------



So many choices. Not sure where to start. What seems to be the most preferred method?

Depending on what you want, I would use Failover, Rotate, or Balance.

If you want to primarily mine on one pool, use failover with a few backup pools.

If you want to try to lower your variance with multiple pools use Rotate (time based switching) or Balance (difficulty 1 share count based switching).
1992  Economy / Speculation / Re: Myself chart thread :D :D on: July 12, 2013, 07:45:14 PM

For what? $65 --> +$100 in 4 days?

Nobody would panic.  Roll Eyes

But what if $65 WAS the bottom?  What if we never go below $80 again?  Those who are currently paying 98% interest[1] to short BTC will sure be panicking.

1. https://bitfinex.com/pages/stats
1993  Bitcoin / Hardware / Re: Pictures of your mining rigs! on: July 12, 2013, 07:37:40 PM
what did you use to build the rack? I was considering legos, but i like yours. I'd just want to add clearance for my fans.
K'nex... I've been building with them since I was 8 Smiley.  Much better for structures than legos.
Blasphemy! Lego4Life!  Cool Wink Tongue

Rigs are hotter with Legos.

and legos are hotter with rigs

And K'nex are always awesome:


No, that is not my build/house, but I have built a few k'nex roller coasters.
1994  Bitcoin / Hardware / Re: bad Block Erupter? on: July 12, 2013, 07:20:57 PM
I'm guessing that you didn't look around much. If the USB Hub you bought is an Anker 10 Port 3.0 it won't work with RPi. You need a RPi verified Hub. there is a link to that list around here somewhere. There is also a whole thread about doing this on a Pi.

What I've been trying to use while awaiting the 7 port Plugable (I see is unverified and some report problems) is a CyberPower CP-HA420 with a 2.6 amp 5 volt supply it came with.  Waking them all up at once I was getting connect-debounce errors.  I just tried waking up the RPi with the hub but not the B.E, then plugged in the B.E.

[   65.763973] usbcore: registered new interface driver usbserial_generic
[   65.764083] USB Serial support registered for generic
[   65.764110] usbserial: USB Serial Driver core
[   65.858437] usbcore: registered new interface driver cp210x
[   65.858635] USB Serial support registered for cp210x
[   65.858781] cp210x 1-1.2.2:1.0: cp210x converter detected
[   65.956346] usb 1-1.2.2: reset full-speed USB device number 5 using dwc_otg
[   66.060840] usb 1-1.2.2: cp210x converter now attached to ttyUSB0
[   66.795443] cp210x ttyUSB0: cp210x converter now disconnected from ttyUSB0
[   66.795590] cp210x 1-1.2.2:1.0: device disconnected


The "device disconnected" messages here are normal if cgminer was running.

Quote
added the B.E.

[root@minepeon minepeon]# dmesg | tail
[   72.506354] usb 1-1.2.2: device descriptor read/64, error -32
[   72.696266] usb 1-1.2.2: device descriptor read/64, error -32
[   72.886272] usb 1-1.2.2: new full-speed USB device number 7 using dwc_otg
[   72.966416] usb 1-1.2.2: device descriptor read/64, error -32
[   73.156318] usb 1-1.2.2: device descriptor read/64, error -32
[   73.346341] usb 1-1.2.2: new full-speed USB device number 8 using dwc_otg
[   73.766120] usb 1-1.2.2: device not accepting address 8, error -32
[   73.846295] usb 1-1.2.2: new full-speed USB device number 9 using dwc_otg
[   74.266224] usb 1-1.2.2: device not accepting address 9, error -32
[   74.266471] hub 1-1.2:1.0: unable to enumerate USB device on port 2

I was getting these messages on one of my 14 hubs.  That hub is going back to Amazon.

Quote
I went into  /sys/module/usbcore/parameters/ and changed old_scheme_first to Y and increased initial_descriptor_timeout from 5000 to 15000.

I rebooted and no joy.  I stopped cgminer and restarted getting this:


Changes to /sys do not persist across reboots.  You need to set what you need set at bootup (in rc.local or whatever your distro uses).

Quote
[1969-12-31 19:06:05] Started cgminer 3.3.1
 [1969-12-31 19:06:05] Loaded configuration file /opt/minepeon/etc/miner.conf
 [1969-12-31 19:06:05] No devices detected!
 [1969-12-31 19:06:05] Waiting for USB hotplug devices or press q to quit

Seeing the hotplug notice, I tried disconnecting the B.E. and reconnecting.  No change.


I would guess you hub is busted.  Is it possible to test it on a different computer?
1995  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: July 12, 2013, 07:10:21 PM

Nice, a bit like bitcoin.de before they got a bank.
You will still need to wait 3-4 days to get your coins (transfer needs to clear).

No.  You used to have to wait 3-4 days.  Now it is actually instant.
1996  Economy / Speculation / Re: Automated posting on: July 12, 2013, 07:09:44 PM


Why did the automated posts got so small? I have this new huge monitor for nothing? LOL

click on it.  It saves us some room to read other things.

It had to be shrunk because the people who read this thread have beady eyes.

I liked it bigger, but I understand how much people whine.  At the very least though you should make it slightly bigger.  There is no need for it to be smaller than the minimum post size.
1997  Economy / Speculation / Re: What is this ? on: July 12, 2013, 07:08:12 PM
What is the aim of such thing ? Can you give an example ?

Thanks

Buy low, sell high, take a profit.  By being the trader who fills up the books, you profit from the traders who just want to do a market order and finish the trade NOW.
1998  Economy / Speculation / Re: The mother of all traps? on: July 12, 2013, 06:51:19 PM
I have no idea who is doing it.

I thought you were referencing the comment above about Bernanke's farts steering the entire global economy.

Just the financial economy.

Unfortunately, for most goods, we are stuck with the prices they set.
1999  Economy / Speculation / Re: What is this ? on: July 12, 2013, 06:50:34 PM
He is doing the same with asks

92.51
92.52
92.53
92.54
92.55

Okay, so he's market making.  I do the same thing on gox with my bot.
2000  Economy / Speculation / Re: The mother of all traps? on: July 12, 2013, 06:49:52 PM
I have no idea who is doing it.

I thought you were referencing the comment above about Bernanke's farts steering the entire global economy.
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