A good link for noobs with some technical background: (can't put the link. Search Google for Satoshi white paper)
Except that they'd read that and realize that BTC was simply intended to be a proof of concept; they'd quickly want nothing to do with a currency/commodity riddled with so many issues. I hear Bruce Wagner might be planning a new BTC show. This is the paper that convinced me to invest after 6 months reading. Invest or use? Is the goal to get newbies to invest in bitcoin or to use bitcoin as currency? The whitepaper's first sentence references electronic cash; however, a quick glance at the instability of the currency commodity shows that it's not a favorable medium of exchange except for illegal markets. However, another recent paper shows how unanonymous BTC is for kiddie-touchers -- http://fc13.ifca.ai/proc/1-3.pdf. First I invested in a mining rig, then I bought more bitcoins with fiat, then I started to purchase and sell products and services. The paper convinced me that it was not a scam and a robust system. When googling Bitcoin in mid 2011 there was more results calling it a scam than anything else. |
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A good link for noobs with some technical background: (can't put the link. Search Google for Satoshi white paper)
Except that they'd read that and realize that BTC was simply intended to be a proof of concept; they'd quickly want nothing to do with a currency/commodity riddled with so many issues. I hear Bruce Wagner might be planning a new BTC show. This is the paper that convinced me to invest after 6 months reading. |
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How to prevent a sockpuppet to claim he hasn't been paid?
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A good link for noobs with some technical background: (can't put the link. Search Google for Satoshi white paper)
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Someone need to adjust his sarcasm detector.
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Why does nothing happen on Sundays? Does everyone into bitcoin go to church or something?
Some strange peoples get out and enjoy the sun. |
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Fine on one condition all investors/bettors need to be made whole within 1 hr of my coins reaching the escrow service. Shouldn't be a problem since your so sure he has the money, it's just a matter of a few transfers on blockchain.
What? Lol, I was thinking of betting on a 1 month period. Hahahaha, you want 5:1 odds & 1 month for money that he's supposed to have. Keep dreaming man. He never said he has the money and it's clearly not the case. He said he was working on a deal aka finding a loan or some investors I guess. If he's not short sighted, he can see that his site has potential. |
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So you are ready to put 100BTC against my 10BTC with John K.
Tell me when you're ready.
The person claims that he is 90% sure, thus I offer to put up my 10 BTC against his (and his fellow similar minded gentlemen) 100 BTC, given his estimations on an incredibly low chance of repay surely he should take this one in a lifetime deal. This is not a good deal. I pass.  |
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I want my BTC back.My Balance is: 39.3016BTC.
Sorry, you're probably not going to get it back. So this websit is a scam? I lost all 39.3016BTC? 90% chance you will never see it again I will bet 10BTC against Casinobit being a scam, anyone sure enough to bet 1:10?
I would take the same bet as you anytime with those kind of odds that Casinobit will reimburse all investors deposit. Well claim to be 99% sure so I should take them up to their word and bet 1:100, but since people like to overestimate I can bet 1:10 (for those who are just 90% sure) or even 1:5 for 80%, if you are just 50% sure don't go running your mouth and criticizing people harshly. Put your BTC where your mouth is, I dare you, I double dare you  So you are ready to put 100 BTC against my 10 BTC with John K. Tell me when you're ready. |
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Click a mouse. Lose a house.
Lose a house. Eat a mouse? |
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Click a mouse. Lose a house.
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This is why Bitmit and experimented bitcoiners use escrow.
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I would be extremely surprised. This is not eBay.
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Actually, that phone has been listed about 4 times. From a different user each time. If you bid on it, you'll have a message "Would you like to buy this for 1BTC" each time. Then when the auction finishes, it will be listed again. Every time this has happened, the account has had bad feedback stating they wanted the coins first. (The pictures can be found on google also).
So, I guess the buyers realised and made a massive bid to stop others bidding. The top bidder is probably on a new account.
Why the buyers would do that and not buy it now at the price asked by the seller (around 1 btc). I don't understand it. To block what he think is a scam attempt. The seller is trying to bypass the escrow system by asking the buyer to send the BTC directly to him before he ship. |
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Is it different for civilian?
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The biggest problem in guessing whether there will be ROI is all the bullshit and all the delays.
A long long time ago it was clear that GPUs would not make ROI because BFL was going to ship ASICs in "two weeks".
Somehow nonetheless people still keep managing to make money with GPUs.
So mostly I guess it depends on whether you actually believe that any or all of the vapourware that has been announced is going to ship.
For a long long time people who ignored all the speculation about supposedly to be shipped in the future hardware have done rather well going ahead and buying stuff that would not have made ROI had all the vapourware actually been shipped "on time".
Any of these ASICS can probably make ROI if none of the others end up actually shipping, or if they get delayed long enough.
Even block eruptors started looking a lot better once Avalon turned out not to be shipping chips than they had looked back when people imagined Avalon was going to ship "on time".
-MarkM-
I think the problem is that ASIC are way overpriced compared to GPU. This combined with the April hype make most (if not all) ASIC a bad investment. Really? a 700MH 7950 at $300 is $430/GH. A bitfury asic today at the expensive rate of $108 is $40/GH. In october, when they're closer to $25, they'll be under $10/GH. I mean the margin on GPU was less for ATI than what ASIC manufacturers are taking right now. I'm not saying buying GPU is a better investment than buying ASIC but it was when there was no ASIC. Today, manufacturers are squeezing maximum profit out of miners. This leave the miners vulnerable for when a vendor will choose to lower his selling price since their margin is so high and they need to compete. How could Avalon sold their batch #1-2 at $1500 when batch #3 was like $10K+? Someone is making a killing there and it's not the miners. Even BFL raised their price and lowered their Gh/s on their "products" after the April hype. |
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The biggest problem in guessing whether there will be ROI is all the bullshit and all the delays.
A long long time ago it was clear that GPUs would not make ROI because BFL was going to ship ASICs in "two weeks".
Somehow nonetheless people still keep managing to make money with GPUs.
So mostly I guess it depends on whether you actually believe that any or all of the vapourware that has been announced is going to ship.
For a long long time people who ignored all the speculation about supposedly to be shipped in the future hardware have done rather well going ahead and buying stuff that would not have made ROI had all the vapourware actually been shipped "on time".
Any of these ASICS can probably make ROI if none of the others end up actually shipping, or if they get delayed long enough.
Even block eruptors started looking a lot better once Avalon turned out not to be shipping chips than they had looked back when people imagined Avalon was going to ship "on time".
-MarkM-
I think the problem is that ASIC are way overpriced compared to GPU. This combined with the April hype make most (if not all) ASIC a bad investment. When, I first started mining in early 2012 it was possible to get more BTC then invested solely buying GPU if your electricity cost was low and you knew how to optimise your rig. |
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Bitcoins are irrelevant though, if it is dollars, or geistgeld, or icecream cones or whatever that you are after.
Heck you could look at it all from the point of view of a person who has electricity to spend instead of a person who has fiat or bitcoins or geistgeld or whatever to spend.
I have a certain amount of electricity and I want to turn it into more electricity.
I could buy a device that can mine any SHA256 coin or even merge a bunch of SHA256 coins, and use it to burn electricity to produce stuff I can sell for more electricity than I put into it.
This fixation on bitcoins ignores the versatility of the device, heck I could launch a whole new SHA256 coin to mine with the device if I thought that would buy me more electricity than mining some already existing SHA256 coin...
-MarkM-
The value of those coins are essentially zero. I know you are the merged mining champion and merged mining is the solution to all problems but it doesn't change the economics. Currencies are fungible so anytime someone says x BTC just think of it is as BTC equivalent. If you mine 5 coins and their combined value is x BTC then it is no different than mining x BTC. If you don't like to use BTC consider the five coins as x DVC equivalent or x XYZ equivalent. It doesn't change anything. If you spend 100 BTC on a rig that will produce <100 BTC equivalent (even including the rounding error merged mined coins) then you have a negative ROI. It doesn't matter if your intent is to makes lots of USD or buy lots of porches with the proceeds. If you want lots of USD then 100 BTC is better than <100 BTC. It doesn't matter if you spend USD, BTC, ounces of gold, or DVC. The unit mines produces (mainly) BTC so however you pay it has an equivalent price in BTC. Saying I will spend 100 BTC to mine 99 or less BTC (including the value of the near worthless merged mined coins) and it doesn't matter because I only care about USD makes no sense. It doesn't matter what the future exchange rate is. Future exchange rate drops to $10 per BTC Hold 100 BTC = 100 * $10 = $1,000 Buy miner for 100 BTc and mine 99 BTC = 99 * $10 = $990 100 BTC is better than 99 BTC $1,000 is better than $990 Future exchange rate drops to $1,000 per BTC Hold 100 BTC = 100 * $1,000 = $100,000 Buy miner for 100 BTc and mine 99 BTC = 99 * $1,000 = $99,000 100 BTC is better than 99 BTC $100,000 is better than $99,000 I'm still trying to figure how Josh and al. justify buying a mining device that will mine less BTC than it's price in BTC but I can't. I really tried hard to understand their logic but that doesn't make any sense to me. |
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IE is only good to browse update.microsoft.com getfirefox.com
ftfy  Try browsing update.microsoft.com with Firefox  |
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