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602
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Other / Beginners & Help / Re: Foodler here
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on: May 01, 2013, 09:36:06 PM
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Currency locking can be a bit tricky. Especially since any exchanges tend to either fold or lag when the DDOS's hit. Depending on how brave your team is using MPEX futures either through MPEX.co itself or Coin.br could maybe do quite a bit to mitigate your foreign exchange risk. There are other avenues for hedging, but a lot of them are built on broken and recycled code. Anywhere you might decide to hedge the FX risk is going to be iffy, but of all the futures options available at this time MPEX's seem the most solid (disclaimer: I am not a licensed broker, attorney, or agent of any sort). Not hedging and just holding extra coin you can't immediately unload at cost on the other hand to sell later might just be viable if you have the capital on reserve to wait before converting back to dollars.
If we offer the currency lock, it would be offered during checkout so the time window would be small. For example, during checkout, suppose a customer has a $22 order with a $4 tip. We would quote per the current exchange rate, 0.20635BTC at the moment, if paid within the next 5 minutes. Since we accept 0-confirmation deposits, this should be plenty of time for the customer to open their wallet and initiate the transfer. We'd bear the currency exposure risk, as we do today. It works in both directions so it ought to average out. MPEX.co is interesting. They should position themselves as an alternative exchange for companies considering a smaller, less complicated IPO than traditional markets. The market depth isn't there right now, but it has to start somewhere. Cool, so hedging should be less important then. MPEX options and hedging can be something of a hassle if you don't need it. |
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604
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Other / Off-topic / Re: Baseball fans
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on: April 30, 2013, 03:35:01 PM
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*someone from the Yankees*
*Yankees*
*someone else from the Yankees*
Also: wishful thinking is an art.
Really? This year when the Yankees got rolled by the Astros of all people. |
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605
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Alternate cryptocurrencies / Altcoin Discussion / Re: BBQCoin and FeatherCoin confirmed on Virexa.com exchange!
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on: April 30, 2013, 03:26:12 PM
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Great news! BBQCoin Confirmed on Virexa.com exchange! It's from the makers of VirCurEx.com so I think it has potential! https://virexa.comIt's still beta, but VirCurEx has a good reputation. They also confirmed FeatherCoin but it's not on the site yet. I'm mining the crap out of FeatherCoin again! Why would Vircurex start another exchange for experimental alt coins? Vircurex IS the exchange for experimental alt-coins. There isn't a coin they haven't put on it (of note). It wouldn't harm them in the slightest to add these coins and they wouldn't be needing to develop some new exchange that could only potentially risk their reputation if it gets hacked, compromised, etc.. I don't think Vircurex is more then a one man operation, why split the risk/energy? Unless Kumala confirms it- I don't think it's a Vircurex operation. I got it confirmed by the VirCurEx team (don't know how big this "team" is). You have to take my word on that. How can you see who registred a .com domain?edit: both registered by: Private, Registration @domainsbyproxy.com Domains By Proxy, LLC DomainsByProxy.com 14747 N Northsight Blvd Suite 111, PMB 309 Scottsdale, Arizona 85260 United States (480) 624-2599 Fax -- (480) 624-2598 Cool, Kumala confirmed a relationship. |
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606
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Other / Off-topic / Baseball fans
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on: April 30, 2013, 09:43:40 AM
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Question here for baseball fans: Who do you think is going to end the season with the highest batting average? Who's going to be all around best on offense? Who is going to be this year's breakout player?
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607
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Other / Beginners & Help / Re: Foodler here
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on: April 30, 2013, 09:40:17 AM
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Requiring new addresses to avoid the quantum computing threat is really on the 10-50 year security timeline from my limited understanding. New addresses while maintaining old addresses is what Mt Gox does, there are probably better and worse ways to do it. A set deposit address is going to probably be safe, Seals with Clubs the biggest bitcoin poker site seems to favor set addresses, people tend to keep these fairly private anyway.
We'll leave it as a single address for now. For increased privacy, a customer can order takeout rather than delivery, and then pick up their pizza or convenience store items discretely. [/quote] Cool, the theoretical threat that makes reusing addresses potentially undesirable is only to a small degree an anonymity threat. The big threat would be finding a shortcut to compute private keys for addresses known to hold substantial values back to their private key. The sort of power to pull this off is a long way off though, and before that happens another address scheme using a still more secure scheme could rather trivially be added to bitcoin. |
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608
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Economy / Speculation / Re: Wall Observer - MtGoxUSD wall movement tracker - Hardcore
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on: April 30, 2013, 09:36:02 AM
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If I wasn't all in, this would be a safe point to go speculative long. (We intend to short it at higher levels today, perhaps $180.) EDIT: I mean it'll have to breach $150 first but I kind of see it getting there  Braver than I am. Earlier this year sell on Monday and buy on Thursday was a fairly reliable strategy. Price movement has slowed quite a bit though this past week or two. It would take a fairly aggressive move up that holds through Friday morning for me to take any serious short position lower than $7.50/BTC under my sale this week. |
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609
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Other / Beginners & Help / Re: Will the litecoin ever overtake the bitcoin?
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on: April 30, 2013, 09:31:31 AM
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No it will not. Something else might, but it won't be LTC. I guarantee it.
Pretty much this is what I believe. If any altcoin overtakes bitcoin, it will be one that hasn't been developed yet and addresses serious issues that have started really wearing on bitcoin at the time the switch is needed. |
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610
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Other / Beginners & Help / Re: Foodler here
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on: April 30, 2013, 09:29:30 AM
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Interesting story: We started with a public service, but it was having reliability issues at the time. We decided to stay up all night last week and roll our own. Basically it's bitcoind running on an AWS EC2 instance, talking JSON RPC with our back-end network. bitcoind has been reliable. It crashed once but we had a simple monitoring script in place that restarted it.
Next up should be some sort of calculator with a currency lock to allow customers to deposit the precise amount of BTC they will need to pay for their order.
Enjoy La Parrilla.
Cool, for the trouble I might have to pick up the rest of the crew's tabs as well. 0.002 is a bit high, I set mine there because I like my sports bets to post quickly. 0.001 would probably cover more than 80% of the transactions fees headed your way. A middle ground of a 0.0015 rebate might cover 90-95% of people's fees. I'm something of an outlier when it comes to fees... Currency locking can be a bit tricky. Especially since any exchanges tend to either fold or lag when the DDOS's hit. Depending on how brave your team is using MPEX futures either through MPEX.co itself or Coin.br could maybe do quite a bit to mitigate your foreign exchange risk. There are other avenues for hedging, but a lot of them are built on broken and recycled code. Anywhere you might decide to hedge the FX risk is going to be iffy, but of all the futures options available at this time MPEX's seem the most solid (disclaimer: I am not a licensed broker, attorney, or agent of any sort). Not hedging and just holding extra coin you can't immediately unload at cost on the other hand to sell later might just be viable if you have the capital on reserve to wait before converting back to dollars. |
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611
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Other / Beginners & Help / Re: Foodler here
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on: April 30, 2013, 08:29:42 AM
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The fee is reported for transactions that are sent from the local bitcoind, but not received. blockchain.info presents an API that includes fees for transactions. Is there some other way for bitcoind to report fees on received transactions? Thanks. No good way... |
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612
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Other / Beginners & Help / Re: MaxBtc.com eat My Bitcoin？
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on: April 30, 2013, 08:28:59 AM
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Find a new pool?
Which is better? deepbit.net, I have a account, Looks okay。 btcguild.com，I also have an account, but not good。 Check their threads for terms, but either of them seem like they have to be better... |
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614
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Other / Beginners & Help / Re: BitBet rules of betting
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on: April 30, 2013, 08:01:48 AM
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Many of the propositions listed on bitbet are dangerously ambiguous. A few examples follow. Djano Unchained at the Oscars
The Tarantino film will win in one or more category at the 2013 Academy Awards. http://bitbet.us/bet/6/djano-unchained-at-the-oscars/What film is that? I have never heard of it. Of course they mean Django Unchained, but such an elementary mistake detracts from the credibility of the site. What does it mean for a film to win a category? Only a few categories such as Best Picture are nominally awarded to a film. What if it wins Best Production Design only? "No" bettors would point out that is awarded to a named production designer for a film, not to a film. Bitcoin price in USD on the MtGox exchange will rise above $200 before the end of 2013 http://bitbet.us/bet/215/bitcoin-price-to-rise-above-200/End of 2013 in which timezone? there is an approximately 24 hour ambiguity in the spec. There is no default timezone mentioned in the FAQ. This defect is common and I will not labor it. Before June 2013 one plane from P.R.China (non-military or military) will be shot by one military plane from Japan. Warning shots with no touching on the Chinese plane will not be counted. http://bitbet.us/bet/148/one-plane-from-p-r-china-will-be-hurt-by/Does this mean it has to be exactly one plane that is hurt and exactly one plane doing the shooting? Does shooting encompass rockets or only ballistic projectiles? Accounts of any confrontation between Chinese and Japanese planes are certain to be contested. Price inflation in the USA (as measured by official CPI-U) will reach 4.2% or more in 2013. To be measured by the "change avg" value here http://bitbet.us/bet/144/us-inflation-to-double-in-2013/Sounds all technical and correct, doesn't it? Not really. Actually there is no "change avg" value in the linked BLS page. The poser has misread the column headers. There is a "Percent change" units specification above two columns labelled "Dec-Dec" and "Avg-Avg". Moreover BLS inflation figure are subject to official adjustment. Bitbet needs someone with gambling experience and research skills tightening up these propositions. It is imperative that the settlement of propositions be as uncontroversial as possible. I would not recommend betting on an ambiguous outcome. Try betting on real-life events, such as sportsbooks, or BetOnEurovision.com These bets seemed to have been resolved to everyone's satisfaction though. You seem to be pimping this eurovision site pretty hard, what evidence is there that they might actually be able to pay out bets. I'd rather toss a few mBTC at this bet. |
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615
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Other / Beginners & Help / Re: Talked boss into mining in our server closet
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on: April 30, 2013, 07:57:10 AM
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I think bitfunder would approve it. It would be a company and not a bond. As far as I know there are not any companies currently offering a piece of the pie for hosting services as well as mining and the additional hosting services could give us an advantage for buying new hardware over other mining companies. We do currently have a few 7900 series cards but I am more interested in ASIC mining going foward. Any GPU mining would be just to appease shareholders until ASIC miners arrived.
There is actually a rather good chance Bitfunder would approve it. The line between a Mining company and a perpetual mining bond is rather thin. Read this link. Then proceed with questions. The reason there seem to be so few companies/securities on the market for this type of service at the moment arises from the collapse of a bunch of securities/companies built on this premise late 2012 which turned out to have invested in Ponzi schemes rather than equipment. It is understandable, they did the math on equipment and found the rate of return on the Ponzis more to their liking. Then the Ponzis collapsed, they couldn't pay share/bond holders and the only people to avoid scammer tags were none but the most corrupt, if any on that model did indeed avoid tags. If you do this do it for yourself, your company, or some combination of the two. Once you have the business of mining down and the ASIC market has stabilized would be the time to maybe consider a security. |
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617
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Other / Beginners & Help / Re: Should you get into mining?
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on: April 30, 2013, 07:47:03 AM
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Mining can be very profitable, but the margins can be a bit unpredictable. In the long term it will probably be a low margin game.
I recommend anyone that wants to try mining to start with a GPU. What coin you mine probably doesn't much matter, LTC may be more profitable at the moment.
WHat does matter is making sure you either have or can learn the technical skills necessary to manage a mining operation. If you can keep a small GPU farm going for a couple weeks, good. Then flip those GPUs for cash and try to find a reliable BTC Asic vendor. Don't buy specialized hardware without having at least a general idea how to use it though.
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618
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Other / Beginners & Help / Re: Talked boss into mining in our server closet
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on: April 30, 2013, 07:42:30 AM
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I'm going to have to disagree, I think this is a great opportunity for you to get started working with the tooling, and begin to get your hands dirty with the technology (apps, tweaking the miners, playing with overclocking, posting on forums, etc.).
I started out just about 3 weeks ago with a couple of 7870 GHz editions that I found on craigslist for $180.00, slapped them into some old HP desktops that I had laying around the office, and got them pulling ~420 MH/s each with minimal heat (running stable @ ~60c).
I also added a 5770 pulling 210 MH/s ($65.00 on craigslist) , and then later a pair of 7970s (1 @ 150.00, 1 @ 300.00 on craigslist) each doing ~600MH/s.
So for an investment of 700.00 over a 3 week period, I'm pulling down ~1850 MH/s, all running at my office under my desk without anyone else in the office even knowing they exist.
Might be decent practice, but it would make a horrible security. |
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620
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Other / Beginners & Help / Re: Talked boss into mining in our server closet
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on: April 30, 2013, 07:40:41 AM
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If you are serious consider getting some Asic miners or even Used FPGA miners, rackmounting them is rather trivial and the rest of the servers will thank you for saving them from an early death.
That is what I would like to do with the BTC I raise from an offering on bitfunder. I would like to buy some of the ASICMINER blades as well as placing orders with Butterfly Labs. Then pay out the mined BTC as dividends to shareholders and keep 5%-10% for myself. Once I show that it is making money then my boss will invest some of the company profits into shares to collect BTC dividends. The problem you run into is that Bitfunder or one of the other exchanges approve it and them??? Mining can be profitable. Mining bonds tend to leave people feeling burned though. Traditional venture capital firms like yCombinator tend to make shitty investments when they move into the BTC space, but They might have some loose money to throw at a mining farm. Also I haven't checked in a while to see how Avalon is shipping, but I believe the Avalon ASIC units required minimal modification to become rack ready (think the height is 4U). If you really want to mine something with off the shelf hardware though, at the moment it would be hard to avoid setting up some Radeon 6990s which though hard to find are some hashing beasts. Point them at BTC, LTC, doesn't much matter. |
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