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The problem is there aren't very many good pools to choose from. I started with DeepBit because there was some sense of security of being with the biggest pool. I switched to ABCPool because of their no fee at the time which they have since raised to a whopping 4%. Since the 4% fee their reliability has taken a dump and I have lost a lot of mining productivity due to this. If it was a 0% pool then it wouldn't be a problem but at 4% this is just unacceptable. As a result I am very seriously considering a move back to DeepBit. I don't like all the mining power concentrated in one pool but I do see the benefit of that pool. I do understand that pools take money to operate and the smaller the pool the more difficult it becomes but they do have to compete with the bigger pools and they have to remember that.
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Likely gox shuffling their reserve around ... odd that they let it all hang on a single key. Strikes me as a security disaster in the making. Or a testament to the security of the bitcoin network. |
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I am back to full speed now but am still not impressed.
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It burped. Knocked my phoenix clients over to alternate, but all my CGminers are up and running on ABC.
We experienced some performance issues. Everything should be back to normal now. C. So I guess with the lack of response on the fee questions you are going to leave them as is despite your unreliability as of late. You were more reliable as a pool when there were no fees. There is still something going on because normally my miners are at 100% all the time but their usage is constantly below that value right now. If this continues I will be leaving the pool permanently. My miners are about 4% lower than usual so that's like having an 8% fee now, not to mention my downtime the other day. |
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Low prices support FPGA's long term. Below about $2, no GPU miners are making any money. 3 year ROI is 33% a year. Show me any other investment with that potential. FPGA's are going to dominate mining growth from here on.
GPU mining will always be profitable for those in apartments who don't have to pay for electricity. The GPU is easily resold since it is also used for gaming. An FPGA is not so easy to resell and if Bitcoin tanks you are screwed on your invested. A 3 year ROI is beyond what any business I have ever worked for is willing to risk. ROI is usually 2 or less for corporate investments. ... Free power from your apartment provider is not a sustainable strategy. You are going to pay a lot more for your apartment, or they are going to kick you out eventually. FPGA developments move a lot slower than GPU's, my 5830's are worth roughly half of what I bought them for a year ago. Spartan 6 XL150's will be worth 90% of their current value a year from now. And obviously you've never worked for a property management company. ROI on apartment buildings is rarely less than 10 years. Apple makes tons of technology investments that don't yield results for 10 years. Ridiculous comment is ridiculous. Our world is filled with investments with ROI's less than 50%. The stock market has never yielded a return of 50%. If you believe Bitcoins are here to stay, FPGA's are the way to go. Its called the landlord tenant act. My landlord cannot increase my rent more than inflation (they have maxed that out even before I started mining). I also cannot be evicted unless I stop paying my rent. My rent went up 3% this year while my pay hasn't even gone up 1% in 4 years. My landlord is charging less to new tenants than existing ones so I do not feel bad at all about mining. My rig does not draw that much load but if I was running a mining farm that would be a different story. My experience with 2 year ROI is with every company I have ever worked for and if you think Apple plans to take 10 years to get ROI then you are sorely mistaken. A 10 year ROI from a tech company would be considered an absolute failure. There are many things that have a longer ROI than 2 years but for the most part I can assure you it is not intentional. Property management is a whole different ballgame than mining because for years it was basically guaranteed that the value would increase every year (still has here in Canada). When every company I have worked for demands such a return and refuses to pay more it's no wonder I support the occupy movement. As the other guy said with Bitcoin there is too much volatility to correctly assess ROI on equipment. I promise, if you set up a server farm they can and will kick you out. Casually running a few cards may not spark this, but that also means you are a trivial part of the network. If you haven't gotten a raise in 4 years I don't really see why you have any qualifications to tell others about ROI, you are obviously not providing much value to your company and your opinions are null. Apple started investing in technology for the Ipad many many years ago. Their investment has clearly paid off today. I said if I were to start a server farm it would be different if you had bothered to read. I provide a lot of value to my company but they dont give a shit and wages have been frozen across the board to the "economy". It doesn't matter if I started a division of the company, made a lab and bring in 30k per month profit because they are greedy pricks. Venture capitalists are this way and that is all there is to it. They exploit everyone at every opportunity. You sure are making one hell of an ass out of yourself by trying to insinuate that I must be worthless somehow and that you are better than me. You must be very popular at parties. |
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"words are very unnecessary..."
Depeche Mode!!!!!  They can only bring harm.... Only know the words because Breaking Benjamin redid the song on their latest and apparently final release. |
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The block reward won't halve until around the end of 2012 or the beginning of 2013 (depending on how network speed fluctuates between now and then).
I hope block reward changes in september  that would imply price during this year going to the moooon Not to be a pessimist, but people will think it should be more, ie 2x as much.. But thats not reality.. diffic. does dictate price.. Yes it is more like price dictates difficulty. Case in point: Bitcoin drops in price to $2 - Difficulty drops tremendously because hashrate drops. Bitcoin goes back up to $7 - Hashrate once again rises and so does difficulty. The difficulty however will not change in 2012 but the reward per block will. This will have the same price on hashrate as doubling the difficulty but in essence they are two different things. |
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So how are those shorts holding out for you? I love how you thought you were so smart and that I couldn't possibly know what I was talking about. Doesn't look like a whole lot of dropping to me. In fact, we are up from this morning.
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Low prices support FPGA's long term. Below about $2, no GPU miners are making any money. 3 year ROI is 33% a year. Show me any other investment with that potential. FPGA's are going to dominate mining growth from here on.
GPU mining will always be profitable for those in apartments who don't have to pay for electricity. The GPU is easily resold since it is also used for gaming. An FPGA is not so easy to resell and if Bitcoin tanks you are screwed on your invested. A 3 year ROI is beyond what any business I have ever worked for is willing to risk. ROI is usually 2 or less for corporate investments. ... Free power from your apartment provider is not a sustainable strategy. You are going to pay a lot more for your apartment, or they are going to kick you out eventually. FPGA developments move a lot slower than GPU's, my 5830's are worth roughly half of what I bought them for a year ago. Spartan 6 XL150's will be worth 90% of their current value a year from now. And obviously you've never worked for a property management company. ROI on apartment buildings is rarely less than 10 years. Apple makes tons of technology investments that don't yield results for 10 years. Ridiculous comment is ridiculous. Our world is filled with investments with ROI's less than 50%. The stock market has never yielded a return of 50%. If you believe Bitcoins are here to stay, FPGA's are the way to go. Its called the landlord tenant act. My landlord cannot increase my rent more than inflation (they have maxed that out even before I started mining). I also cannot be evicted unless I stop paying my rent. My rent went up 3% this year while my pay hasn't even gone up 1% in 4 years. My landlord is charging less to new tenants than existing ones so I do not feel bad at all about mining. My rig does not draw that much load but if I was running a mining farm that would be a different story. My experience with 2 year ROI is with every company I have ever worked for and if you think Apple plans to take 10 years to get ROI then you are sorely mistaken. A 10 year ROI from a tech company would be considered an absolute failure. There are many things that have a longer ROI than 2 years but for the most part I can assure you it is not intentional. Property management is a whole different ballgame than mining because for years it was basically guaranteed that the value would increase every year (still has here in Canada). When every company I have worked for demands such a return and refuses to pay more it's no wonder I support the occupy movement. As the other guy said with Bitcoin there is too much volatility to correctly assess ROI on equipment. |
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Still a bit touchy about getting zhoutonged the other day? |
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And many of the ask walls are also fake meaning the resistance isn't what it would appear either. What exactly is your point and what makes you so experienced from your 80 some odd posts to be calling us fools?
We have about 1000 coins to move the price $0.01 in either one direction right now which is interesting.
That's fairly inaccurate. You actually have to buy through most of these ask 'walls'. However, even if they were fake, they are substantially dwarfed in significance by what is going on with those several 10k BTCs worth of will-disappear-anytime-once-you-bought-enough-of-my-overpriced coins. You and your proud 600+ posts, which btw prove nothing of an argument other than that you got too much time on your hands and obviously no pretty gf to keep you from it, will see - but I sure as hell don't make the same mistakes twice. My advice to anyone willing to listen would be to stay out of this blatantly manipulated market. I for one will keep up my shorts. Look how cool you are trying to insult me. The number of posts means I have probably been in the community longer and have more experience than you in this market. You are clearly trading with leverage since you are shorting which means you could be liquidated and end up with zero (look at thread of the year and the impact I had on that). In fact with your smug attitude and condescending tone I now wish this upon you. I do not trade with leverage so I will never have 0. As for having to buy through them some are real but many are pulled as they realize they are going to sell at a lower price than they can. They can't always be pulled out in time when a whole bunch of shorts get zhoutonged. I have seen large ask walls and bid walls taken down so the depth charts have to be viewed some degree of skepticism on both sides. I even provided examples of moving walls you could have watched but apparently you chose to ignore that fact. That being said I expect a test at 5.50 again in the near future but think we will be going up as well. S03052 even said he believes we are entering Wave III which means that the price rise can resume. He charges for his analysis but from what I have heard from those who pay it is usually very accurate. |
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If that's really what you want it for then might I suggest: http://www.spendbitcoins.com/or http://giftcoin.net/No bank account needed. As far as I know you would not be able to get a bank account anywhere in north america with the situation you described. Feel free to send some coins if this helps you reinvest. |
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I don't trust those 50k walls at all... they are obviously the same ones that disappeared at 6.4 and 6.6 2-3 days ago when we were at 7.19 with practically nothing to go to 9. Without them, there wouldn't be any real support above 5.20/40.
You fools are being played again.
indicators are all bearish. i would heed this man's advice. If the indicators are all bearish then I trust we will have a bull market. Same in the reverse order. This is the way it has been for some time here. If everyone is posting rally rally rally then a correction is in order. If everyone is screaming crash and abandon ship then we are due for a big rally. Its really as if someone is using reverse psychology to base their large trades (has worked so far apparently). Either way no matter what happens I am in a good position and will not be hurt. I am not leveraged and have both buys and sells at either extremes of what the possible trading ranges could be. |
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I don't trust those 50k walls at all... they are obviously the same ones that disappeared at 6.4 and 6.6 2-3 days ago when we were at 7.19 with practically nothing to go to 9. Without them, there wouldn't be any real support above 5.20/40.
You fools are being played again.
And many of the ask walls are also fake meaning the resistance isn't what it would appear either. What exactly is your point and what makes you so experienced from your 80 some odd posts to be calling us fools? We have about 1000 coins to move the price $0.01 in either one direction right now which is interesting. |
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I think the most obvious thing to invest in here is drugs. Since countries have very consistent drug policies, drug prices have remained around the same (accounting for inflation) for almost a century.
Currently 15% of my hedge is in cocaine with another 5% in opium. I used to invest in methamphetamine but since the bubble in '05 I've been a little more cautious. Marijuana is close to being legal so expect diminishing returns if you choose to invest there.
If we all group our investments we will probably be able to afford a small Colombian coca leaf plantation as well as pay off the government officials. Should a bitcoin bubble crash this will be a very reliable investment, provided we can keep current local officials in power.
Dont forget to invest in beavers eh... Yeah our government up here is instituting MMS for small amounts of pot that will send prices skyrocketing. This will only help the dealers so there is lots of money to be made by organized crime in Canada for years to come thanks to Harper. |
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Clearly they do not understand what bitcoin is. They must have thought it was a stock or something and that the price dropping meant the business was failing. It's kind of funny really.
Just because it went from $9 to $30 and came down afterwards this is a failure? How about the fact we are almost back at the value 8 days before the peak again which is impressive. Not to mention the fact it is up a significant percentage year over year right now. I like how they also did not show any of the parabolic recovery we have had for the last several weeks on their chart.
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Did anyone else see those walls move as the price approached? They are now up higher but still for the same amount at 300BTC. Not exactly sure what the strategy is there unless they are trying to buy coins without raising the price.
(Update)
Was looking at the timed out clark moody data. But the coins are still higher up now. The walls were moved as I predicted. It looks like a couple of them were bought up in that big spike before they had a chance to move them from the slightly higher point they were moved to.
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Boy, am I ever glad we have anon to look out for us. |
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If you look at the 300BTC groups between 6.35 and and 6.36 (3 groups) these are classical fake walls. This would require 1000BTC to go from 6.35 to 6.36 but last time we jumped to 6.36 there was not even 100BTC volume required because the walls were taken down before the orders could be executed. They were there before the price approached them and disappeared as the price reached 6.35 only to reappear after it dropped.
Someone is trying to suppress the price.
[Edit] Make that 4 groupings. Someone is trying hard.
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I looked at the order book on MTGox and there are a number of 1k walls spaced evenly apart near $7. To me this is a sign of a bot/manipulator and that these walls are probably not real. Anything that looks computer generated like that usually is. By my count that only amounts for about 5k of the coins but the bot could have made a mix asks at different levels.
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written all over it. Who's next?
