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Anytime USD is used in commerce anywhere on the globe, the US govt. can, and sometimes does take an interest. You may be under EU laws but the US has final say on how USD is used, unless it is cash of course. I would stay out of it for now if I was you ....
You could look at expanding your euro currencies, CHF is a big one not covered and used internationally, norwegian kroner and other smaller ones that are not in euro also, maybe rubles ...
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Lending at interest in a deflationary currency is ill-advised.
Yes, but it could be quite entertaining ... wonder what the depositors will be thinking? |
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If the US govt. has become an out-of-control criminal organisation does anybody really care what laws they pass anymore?
Until there is more evidence of checks and balances working, like govt. criminals going to jail, then they can be treated like a malignant entity that needs to routed around by legitimate commerce.
Simply put, jez feck em.
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greetings friends,
When I learned about this concept I thought it was one of the coolest things I've come acrossed in awhile. My first attempt at mining was with a iCore-3 cpu and that was crawling along at 1.5Mhash/s, so I found a great deal on a Saphire Vapor-X Radeon HD 5870 (craigslist $175) and have been rockin that with the guiminer and getting 300MHash/s+ ... my question is do you think its better for someone in my position with a fairly decent gpu to just use the bitcoin client on my own or to participate in a pool (which I am currently doing)
What is the standard accepted as a Ghash rate that is capable of mining on its own? Is there any recommendations here , where is the cut off point?
Thanks!
-iMMUNE
http://www.alloscomp.com/bitcoin/calculator.phpOn average, it would take you over 18 days to mint a block while mining solo. The difficulty will change within that time period. and with variance he may even expect to spend 5 times that without getting a block if luck is bad .... 90 days mining ... takes some gonads to do that .... I read somewhere a while back to not go solo without more than 1 GHash/s, and that has probably gone up since then. |
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Tell your dad that bitcoin is the way of the future!
Put a watt meter on your mining rig and tell him you will pay him for the electricity it uses.
Bitcoin is not illegal. Tell him to let you succeed or fail on your own terms in life, how else will you learn?
You will look like a genius when they are worth $1,000 each.
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knightmb:
How much?
PM me if you want to move large amounts.
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Cool.
Sing me a song piano man.
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So it begins, the first shot is fired in the bitcoin wars.
PayPal can go pound sand ... they have shown their true colours ... kind of knew that after the wikileaks fiasco.
So much for hip new internet business PayPal are just suck up toadies to the corrupted old money power elite establishment ... losers.
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... its just an idea...
Bitcoins was "just an idea" when you could easily buy them for less than 1 cent each. Most people here are adults, thanks for trying to save us.  If your one to think a business like ubitex has complete potential to gain ground like Bit Coin then fine. Others may find it irrational or maybe insane to invest in an idea which has no execution which anyone can copy. If you look at OP's Post you will find that he will have to get the into website/IT system set up and get enough customers within range of each other for this to be a successful business. Not only that, but GLBSE is not a registered exchange and anyone at this moment can report them to the proper authorities. Note that financial crimes are very serious. Note that unlike Bit Coin, GLBSE has a physical server in which its business is conduct and a centralized staff. It can be taken down any moment. Yes, financial crimes are very serious .... so why is that the registered, regulated exchanges are still harbouring the criminals who threatened to destroy the global financial system if they were not 'bailed out' to the tune of hundreds of billions of dollars of tax-payer money? I'm sorry, but if the current system is FUBAR and criminals are running amok anyway what's the harm in trying something new and bringing in some competition at least? |
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Bitcoin is democratic.
It does not have a central bank to inflate the currency at will -- but a majority of clients and miners can choose to inflate the currency at will, change the maximum from 21M to 1000M, etc.
Of course, most current bitcoin users like the 21M / 50 BTC / etc. software rules, so they are unlikely to change.
But the rules can change.
Yes, but not by a legislated decree. I.e. not Legal Tender, not by fiat. Drop the fiat terminology and all the baggage that goes with it and you're good. It's technically insufficient or misleading at best anyway |
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I don't think you need to tout, you've got a good idea ... just run with it.
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The argument is that it is unethical for a pool operator to allow a botnet to be connected to the pool so that stolen CPU time can make money on their pool.
It would be pretty obvious if there were accounts with thousands of workers submitting sub-CPU level hashrates.
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I like this idea, let's make a separate wiki page and call it
"THE RED LIGHT DISTRICT" (btc accepted here)
... best name you could come up since it denotes vice, naughtiness without being overtly illegal.
Put up one of those ADULT, R18, etc, warnings you see on porn sites (not that i go into them). Eventually it can fork off onto it's own web site when bitcoin wiki becomes to be purely about the IT, money technology only site some suggest will happen.
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actually with the latest m0mchill release i'm back using it again  ... got some on phoenix also ... racing! ... the competition is great. (hashkill looks like a bit of dark horse, but has a good pedigree on hash track course, so keep an eye on that one) |
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Steve:
Yes all very convincing arguments. Particularly that the bitcoin protocol is not dictated (decreed) by an authority but is rather a set of mathematical, programming standards.
The clincher for me is that bitcoin is not "Legal Tender", this is almost a necessary condition for a fiat money.
Surely, a fiat money has to have a "Legal Tender" legal classification?
I say bitcoin is not a fiat money.
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Bitcoin minting ... i prefer that term to the mining term i think ... with a pool it is more like minting, while going solo it is more like mining (due to the variance differences).
What the current crop of GPU miners need to be aware of is the fpga threat on the horizon. As the CPU miners were out-moded when capital values involved in bitcoin became high enough, then so to maybe GPUs become out-moded when capital values of bitcoin minting gets to high enough levels to justify fpga investment. It has been more about capital equipment cost (silicon chip) than electricity.
Some banks and trading houses already have fpga hardware, some may even have it sitting around idle after the financial crash, so some programming and electricity and they are in business bitcoin minting without significant capital expenditure ... (ps PM me if you would like to know how to do this, if you can pay in BTC).
Edit: big GPU clusters may be around for a long time too, hard to know
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I have Nvidia GT 220. What flags should i use?
Nvidia huh?, how about the "I surrender" white flag? (just kidding) |
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It is the imposition of the software rules. Try to change bitcoin's software rules, and you'll realize it's a fiat currency.
This is a valid point, what you are really arguing here though is that the software development group of bitcoin are somehow a recognised "authority" ... if you can classify them as an authority, then yes you are right, it is by their decree, or rules, that bitcoin is fiat. Now how do you go about arguing that the software developer group of bitcoin are a legitimate authority? Definition of authority, as used in the context of fiat, not quite a match but maybe ... |
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The "point" of currency is to deny people the necessities of life. free market No such thing. Not quite, there is no such thing as a perfect free market ... as there is no such thing as an perfectly unregulated internet ... but in the same way as the internet, the free market will not be denied and sees regulation as a threat and provides work arounds ... we have gray and black markets to compensate ... and heavily regulated markets just move risk to other markets and sectors until they go bust ... and the free market gets established again .... spend some time to examine closely what happened to trading of goods and services and money in the soviet socialist eastern bloc countries ... it took quite some time but the free market was re-established, with avengence. |
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