It would knock out everyone GPU mining except for people who don't pay for electricity.
Not really. I mine with a bunch of 7970s, ~3.2Gh/s @ 790W at the wall on my main rig. I pay £0.0959 (~$0.155) for power, and I'd be profitable at much lower reward-per-share than we have currently. aren't the average miner though. The average miner will earn substantially less than you and even at the same energy costs may find it unprofitable. OTOH, I think most northern hemisphere GPU miners will continue for a while yet - GPUs heat up a room quite nicely. Yeah, I'm probably not, but what he was saying is that the reward halving would knock out most >2Gh/s miners, when those of us with that sort of GPU hashrate typically have fairly efficient setups. I think we're more likely to see a lot of the smaller (<1Gh/s) miners give up. Also, I live in scotland and my heating bill over the winter is awful, so with any luck the ASICs will get delayed a couple of months so I can have effectively free heating all winter  It would knock out everyone GPU mining except for people who don't pay for electricity (colledge students, people who live with their parents, and people who leave em plugged in at work)
I think I will continue mining with my watercooled 5870s as long as they manage to break even - after all, I can't heat the bathwater with ASICs. You could with enough of them  Multi-terahash under-floor heating system anyone? |
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When I saw Goat's assets delisted, I decided it was the last straw, and bailed everything I could. Only BTC0.05 and a few shares of SS were left trading. SS should be fine. Imma kick some ass over the bitcents. As long as I get my Tygrr and defaulted pirate debt back, I'll be happy  (I want it for trophies!) Shame nefario took the most pussy way out - just close up & run.  I had most of my assets up for sale at the time of the closure but there was just no volume  |
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It would knock out everyone GPU mining except for people who don't pay for electricity.
Not really. I mine with a bunch of 7970s, ~3.2Gh/s @ 790W at the wall on my main rig. I pay £0.0959 (~$0.155) for power, and I'd be profitable at much lower reward-per-share than we have currently. |
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I think my mining alone covers this ~.~
Heh, mining with 1 5830 would more than cover that That's just the point. "Sky Deposits" showing up with an availability counter and no set run-time, but a list of previous trades, talking about forced withdrawals etc., and then 60 BTC? Long-term? Implying it could be more later? The business model... is undisclosed? But has muddy talk about a wild mixture of generic things, including speculation by involving GBP exchange. But risk is low, because it says so! His OTC ratings are by gigavps (rated Pirateat40 +10), PatrickHarnett (Throws lots of As at just about anyone's credit rating) and this vescurado guy you're apparently discussing. And best of all, "Sky Deposits" is supposed to run for months, but you can withdraw everything on two days notice! Whoo. If Micon is wrong on this one, I still see no reason to blame him. It's been said often and becomes no less wrong: in lending, suspect a scam until there is evidence for legitimacy. Not the other way around, especially not if the thing already looks suspicious. Things I know about Andy: -He does a lot of GBP/BTC transfers and charges fees which are fairly considerable, certainly enough so that they'll provide reasonable income. -He's been experimenting with setting up a pool, which was very good when I tried it - you can see the details of the hashrate he bought from me on page 1. -He has mining gear of his own, which would be more than sufficient to pay the interest on this debt. At the end of the day, there aren't many ways to get BTC with GBP at the moment, so if he needs BTC liquidity to be able to offer that service it's worth his while borrowing at these rates. It could turn out to be a scam, but given the sums involved and the fact that a number of users here have his bank details and such, it'd seem fairly unlikely. |
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Now here's an interesting question: If you really crank these out so fast, could you do one for me in time for halloween? |
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Yawn. Post-GLBSE fallout. Entirely predictable.
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Pm goat, imsaguy, ineedausername, BurtW, gigavps, bitfoo, Clipse & ShadowAxeley You'll want them on side if you're going to run a successful ponzi scheme  I wonder whether you just hurt reeses' feelings. Aww no! I've added him now |
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Are you really 60 BTC in the hole? This has me worried. How can you keep going with those kind of losses? Income Paid Net
400.00000000 460.36536787 -60.36536787 I am absolutely that far in the hole. I have some sort of organic poptart that tastes like sadness. I nibble it as I ponder what I have done to get myself where I am. I have regrets but not that many. Can I make a suggestion? How about varying the pool fee according to the net financial position? I made a little pool sim in matlab, for a bit of visual representation of just how savage operator variance can be on a 2% PPS pool, here's 100 runs over 1000 blocks:  As you can see, the risk to you is fairly substantial - however I was planning on pointing ASICs at your pool when they release, and I do think you could make a great success of this thing if you had some investors on board to give you a bit of a war-chest. |
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Pm goat, imsaguy, ineedausername, BurtW, gigavps, reeses, bitfoo, Clipse & ShadowAxeley You'll want them on side if you're going to run a successful ponzi scheme |
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It is not illegal to discuss illegal matters.
It is in "the land of the free" |
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Hello,
I'm very interested in buying a new bitforce single sc from butterfly labs but still have some questions.
Has anybody already received it or is everybody still waiting?
And how long would I have to wait if I order now? (I live in Europe) The estimation on orders placed now is January based on what BFL have been telling people. So applying the "BFL factor" that means you'd get your order in March Alternatively, Cablepair and Avalon ASICs are worth a look. |
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Micon is a little bit crazy. Most pro poker players are. However, he had the wisdom, the foresight and the kindness to warn everyone about these ponzi schemes. The fact that you chose to ignore him is testament to your own lack of wisdom. A fool and his money are easily parted. He whined and created controversy (which, by the way, did wonders to provide publicity for BS&T and brought in a bunch of new victims) whilst some of us were trying to investigate the scam properly and calmly explaining the facts of the matter. By attacking outright the entire lending forum, he managed to appear as an amusing tinfoil-hatter (just look at his accusations in the most recent pages of the Vescudero thread) and so potential Pirate marks didn't listen to him. By diverting the forum away from proper, civilised debate Micon made it much more difficult for the rest of us to point out the obvious. |
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They've still not caught up over the 2016 block window, but I've checked a few more times over the past few days and 50BTC has been consistently reporting 2-400Gh/s more than Deepbit.
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I'll probably end up mining with HHTT - I actually like the idea of having 100Gh/s of hardware sat working on 2048-difficulty shares or some such thing |
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No Nafario told me on the phone he's had to shut down to avoid (possible) jail time for helping to fund terrorism and helping money laundering never mind all the tax issues.
 Seriously, tell me that's not US government language "Not buying treasury bonds? You's a Turrrrist" Fuck Uncle Sam, really. |
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Getting this endlessly:
<trimmed>
however the proxy still seems to be redirecting shares perfectly, it just has high CPU usage now...
Any ideas?
I have the same issue (although the error message in rollproxy varies a bit). Whenever rollproxy has a connection issue between itself and a pool, CPU usage goes crazy (it's stuck in a loop, I'd imagine). With enough rigs running against it, rollproxy can no longer keep up with providing work while this is happening. Yeah, I had to stop using it on my server, It was taking up half my CPU time on just 7Gh/s |
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I've just been on the phone with Nafario for a good half hour and even tho someone stated that Nafario had used users money to pay recent GLBSE legal fees is untrue. He hasn't even paid his solicitor a penny yet.
Any chance of a quick run-down of the chat? I think we're all curious to find out what's going on here... |
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I wonder if Clipse is hoping pirate will pay out on the 12th...
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So are you not launching Teramining after all?
Also, is there any issue with regard to legal implications for yourself? I'd lawyer up after everything that's been said...
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I was planning to get fully verified on glbse and launch an IPO... Pretty glad I didn't now.
Personally, more than I'm worried about my own funds on glbse (not a whole lot, about 35BTC) I'm worried about the implications for current asset issuers, who are likely as not violating federal securities law (if US based).
Does anyone have anything about the legal implications of doing a bitcoin IPO in the UK?
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