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2101  Bitcoin / Mining speculation / Re: USB ASIC Miners will never ROI at 1 BTC/device on: June 28, 2013, 08:29:59 AM
I did not buy them.  I am operating them for a fee for a friend.  Based on the timing, I would say 2 which is unfortunate for him.  I wouldn't have bought at that price and I told him that.  However, this shouldn't be a competition to prove I made bad decisions.  This should be a discussion of facts.

At 2BTC a piece I agree.

Also, I am the pool fee, so even on my own hardware I don't have to worry about that.

Dude, I've been mining since December 2010.  I know how to calculate expenses.  If you want to discuss potential difficulty, sure, that is guesswork.  But I know expenses.

K your 0.2btc return on 18 months plan is too little for my tastes. And a bit too risky considering
Thats based on 10% 11day schedule. How much is shipping on those?



Shipping is free.  I'm still not buying at 1BTC, but it is profitable and I will gladly continue to operate for a fee as many as my friend wants to buy.

Personally, I am waiting for a better proposal once AM gets some competition.  At the moment, they are the only ones shipping in reasonable times (2-4 days from China to US vs. a 3 month estimated queue at BFL and taking a risk on Avalon's "we will deliver when your rig starts to fill with dust"... oh or KNC's 28nm dream machines).  I'm waiting a few more months to see how it all plays out.

The real question is how the heck are you getting a hashspeed of 400 instead of 334? Do tell...

1. Plug it in
2. Start mining

They are likely advertising a hashrate that is based on average imperfection rate and a fair margin of error.  All ASIC production has areas where the chip doesn't work properly, so you might only get 90% of the cores in the chip that actually function properly.  Either they added too much buffer to their estimate or I got really lucky with all 10 of my miners.
2102  Economy / Speculation / Re: Where we break the downward trend and rebound from the current bottom? on: June 28, 2013, 08:23:35 AM

So, of the 11.5 million current addresses, only about 600K have any coins. What conclusions can we draw from that, if any?

To the OP: will get back on topic soon Smiley

That most coins move after they are received.  That's about it.
2103  Economy / Speculation / Re: Yet another analyst :) on: June 28, 2013, 08:18:15 AM
Anyhow, sorry for the OT lucif, please show us some bearish triangles Wink



This resembles BTC right now.

On what timescale?
2104  Bitcoin / Pools / Re: [700GH/s] p2pool: Decentralized, DoS-resistant, Hop-Proof pool on: June 28, 2013, 08:13:06 AM
Block Erupter Blade support for p2pool - Bounty
Current bounty: 5 BTC

I would like to make ASIC Block Erupter Blades 13GH/s working with p2pool. ASICs support for p2pool is very important for p2pool survival.
I am giving 5 BTC bounty for developer who will make them working on p2pool. Bounty will be paid to developer or split between group of developers who will contribute to solving the problem.
If you guys have BE Blades too, please let me know. I can arrange escrow via John K. (or I can collect funds directly, I am trusted forum member, please check my OTC), once we gather more funds maybe one of our developers will be interested to look closer to this problem.
I myself can donate my Blade worktime for a developer to make debug and testing, please let me know.
PM me if you a developer and you would like to get access to my BE Blade and to my Linux server for debug purposes. Please help:)
PM me if you a BE Blade user and you d'love to see your blades hashing on p2pool to - let's gather more BTC for our honest developers.

Regards
Lenny


Have you tried it?  What kind of stats are you getting?

I'm running 10 AM USB sticks on p2pool and getting over 100% efficiency.
2105  Economy / Speculation / Re: Where we break the downward trend and rebound from the current bottom? on: June 28, 2013, 08:01:37 AM
I did see an interesting stat, however. Over 90% of wallet that are downloaded do not contain and have never contained any coins!

I have no idea how anybody could possibly know that and I like to think I understand bitcoin pretty well since I first read the whitepaper in 2010.

Substitute "addresses" for "wallets"...

http://bitcoinrichlist.com/charts/bitcoin-distribution-by-address

Of course!  The default client never always sends change to a new address.  Coins left on an address that has had its private key exposed will be the first lost if there is ever a problem found with ECDSA.
2106  Economy / Speculation / Re: Yet another analyst :) on: June 28, 2013, 07:55:51 AM
Anyhow, sorry for the OT lucif, please show us some bearish triangles Wink

2107  Economy / Speculation / Re: Where we break the downward trend and rebound from the current bottom? on: June 28, 2013, 07:52:12 AM
I did see an interesting stat, however. Over 90% of wallet that are downloaded do not contain and have never contained any coins!

I have no idea how anybody could possibly know that and I like to think I understand bitcoin pretty well since I first read the whitepaper in 2010.
2108  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: June 28, 2013, 07:06:19 AM
Gox going down?

http://i.imgur.com/a2SW8ZH.png

well_that_escalated_quickly.png

Just little wiggles, chill out.

2109  Economy / Speculation / Re: Yet another analyst :) on: June 28, 2013, 06:22:57 AM
Socialism is too loaded of a word to convey any meaning.

So is captialism and anarchism unfortunately.

We should find new words.


Right, we just need to be clear about what we mean without using those words.  Unfortunately, each of those words conjures up a preconceived idea that is different for each of us.
2110  Economy / Speculation / Re: Duble Digit Belieber's Club: on: June 28, 2013, 05:28:40 AM
The last time it tipped up was May 16th, 2012.

It it was also very stable for much longer.  However, this time we don't have any pirates trying to peg it.... or do we.
2111  Economy / Speculation / Re: Duble Digit Belieber's Club: on: June 28, 2013, 05:20:57 AM
I beliebe!
2112  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: June 28, 2013, 05:17:32 AM
. Not a silver to its gold, but a bond to its stock.

IMO that would be the economy spending on goods and services or investing in providing them. (or fiat if you don't mind leaving the XBT ecosystem)

Or, a sister crypto with an inflation rate driven by Bitcoin Difficulty, with proof of stake.

1.  How are new coins distributed with proof of stake?
2.  What happens when difficulty goes down?
2113  Economy / Speculation / Re: Yet another analyst :) on: June 28, 2013, 03:57:28 AM
Socialism is too loaded of a word to convey any meaning.
2114  Economy / Speculation / Re: Good time to buy BTC? on: June 27, 2013, 08:07:09 PM
Exactly. And for the guys making $2/hr, this will just be all the more relevant.
All those guys who work for $2/hr are probably working to fill those container ships. We should be thinking about how to pitch Bitcoin to their bosses.

china probably never try BTC because of goverment

Then why was there a 30 minute segment on BTC on on of their state-run news channels.
2115  Bitcoin / Bitcoin Discussion / Re: Explaining Bitcoin to a non-believer on: June 27, 2013, 07:20:52 PM
Tell them you wont talk to them about Bitcoins again until they can explain to you what Nixon did to the dollar and why you should keep your money in dollar after it devalued 98% since 1971.

Ha! Yes, I'm going to do that, I should have thought of that... (AP United States History student)

If you go that route, at least get your facts straight.  The dollar has devalued 98% since the Federal Reserve system was put in place in 1913.  It has devalued 82% since the gold backing was severed in 1971.
2116  Bitcoin / Pools / Re: pool.yrral.net P2Pool backed mining pool ALPHA on: June 27, 2013, 07:15:14 PM
Sorry, no payout today.  P2Pool only found one block since the last payout, and it still needs another 33 confirms before it is spendable.  There will definitely be a payout Monday.  Thank you for your patience.  Hopefully p2pool will gain a larger share of mining with the new changes coming (longer share times which makes p2pool work better with some ASICs) and we can get back to solving more blocks.
2117  Economy / Speculation / Re: Gold collapsing. Bitcoin UP. on: June 27, 2013, 10:39:27 AM


Just search this thread for "looks heavy" Tongue
2118  Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore on: June 27, 2013, 08:40:38 AM
Something unusual on Gox, BTC is trading within a 20c band for the last couple of hours. Normally oscillates at least $1 or more.

A compressed price range often leads to a breakout.

which side ? Smiley   thats the question

anyone starting the up or down .. is having a pretty good slippage.. no big guys needed.. just a few buys or sells of 500 could start it

No big guys... just $50k.
2119  Bitcoin / Legal / Re: in germany bitcoin gains are not to be taxed after 12 months !! on: June 27, 2013, 08:21:52 AM
Owh yeah because of the great system based of violence...

Yes.  Ignoring it doesn't stop it from hurting you or especially the ones you love.
2120  Economy / Economics / Re: europe bail in official policy now on: June 27, 2013, 08:20:54 AM
I've said it once and will repeat: there's no fairer way to deal with a bank failure than a bail-in:

  • Current bank owners (shareholders) should lose everything.
  • Creditors should lose the necessary amount to save the bank, starting by those who accepted more risks (like bondholders) until those who did not accept much risk (depositors). Ideally, depositors should not lose anything or very little - but if the hole was too huge, they might end up with a significant cut.
  • These same creditors should be rewarded with ownership of the bank. For example, if you lost 10K, and in total 10G were needed to save the bank, you now must own a millionth part of the bank in shares.

I can see no way to make it fairer than this. Tax victims should not have to spend a dime - that's externalizing a cost to people that had nothing to do it (imposed negative externality, moral hazard, private profit public losses etc). Only those involved with the failed bank should. Federal/national insurances of bank deposits are unfair by definition and should never have been created in the first place.

Insurance was okay when banks had a very limited set of things they were allowed to do.  Now that they act as broker/dealers you are absolutely right.
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