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I agree their incentive to ship is virtually nil. They can mine anonymously until preorders start dropping off, ship some units, preorders pick back up, mine with those new machines.... rinse repeat for a year, then announce VERSION 2.0! Only $5k for 100gh/s at the lowest watts/hash yet!
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I will just be happy if I get my money back on my singles at this point. Anything beyond breaking even is gravy.
For me, the whole mining investment is a way to turn fiat into BTC while making BTC more secure, but in retrospect, just buying BTC would have been a far better investment from a purely financial perspective.
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Personally I think the solution is more than one coin.
Bitcoins for storing value long term and bigger payments.
Litecoins for day to day transactions and purchases under $100.
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So, like a lot of folks I have a decent rig which is pushing the boundaries of heat and power consumption at my place. Bunch of different machines, power strips, extension cables - the same as many of you Im sure. Well I had a major scare tonight as I heard a loud "popping" from my mining area, I went over to investigate, and one of the cheaper, thinner gauge IEC power cables for one of my 800w PSUs was in the process of melting and shorting out!
Holy crap. That smell of burning electric wires is one of the scariest things in the world and I nearly avoided being in the 3rd (!) electrical fire of my life (the other two were faulty wiring inside the walls and not at all my fault). Had I not been home I dont even like to think about what might have happened.
So PLEASE people be careful, use good quality, THICK gauge cables for everything and DONT overload power strips or circuits. Dont run super long extension cables at full load at all if possible. If you are constantly tripping a power strip or circuit breaker, DIAL IT BACK. If a cable feels HOT to the touch, it will fail eventually and could cause major loss of property or worse. Be SAFE people, mining is fun but its not worth risking everything for!
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sooooo funny, Im seriously dying laughing here
I cant believe people really publish this shit, its really just amazing
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So there will be a feedback system? Or at least a ratings system for escrow accounts?
I think the idea is to create so many escrow options that trying to regulate or shut down all of them would be impossible.
If someone setup a major escrow in the Caymans or Cuba I dont think there is much the US Gov could do about it.
(also consider changing the thread title to include MetaLair, although I think that name could be revised...)
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I think bitcoin will fall in 1 year time. Ripple is coming.
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many people bought pieces of me at slight markup. I am essentially sold out at this stage
Congrats and GL man, hope the fields are as soft as ever this year |
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https://forum.litecoin.net/index.php/topic,4002.0.html" The recent rumors of supposed problems on the Litecoin network we believe were actually multiple clever attacks on pool servers, there was no instability in the Litecoin network itself. Thanks to help from the Litecoin core devs, especially pooler of litecoinpool.org, we have found and fixed a share verification vulnerability in the pool server stratum implementation." 
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Holy crap Alan Wake looks amazing, everything on high at 60fps with just a 7950 at stock
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Yeah something was up because I had an awful day mining and these pools are too big to have any real variance...
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The only solution is consumer awareness. If people want to waste hashes mining them, or maybe even make a few bucks, its fine, but if they are buying these coins, they need to realize what they are involved in is essentially a get rich quick scheme. So as long as they know that and protect themselves, it might be worth the risk, but ultimately in my opinion its simply not worth the trouble. Its probably only really worth it for the "developers."
Personally I only hold BTC and LTC and will await the arrival of Netcoins before mining or buying any other alts.
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I think Netcoin is the only one with a real shot at becoming a big #3. Its still a ways away in development, but will be worth waiting for.
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Sent some LTC. Everyone should donate a minimum of .1% of all your LTC.
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I dont have sexy ASIC pics so I found this on google images  |
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Selling it today and buying 30 BTC with it is the most profitable longterm move...
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Personally I can easily see LTC at $10, whereas I dont see BTC at $350 anytime soon, maybe by the end of the year or 2014.
LTC could be $10 in a month or two, depending on what happens. I think BTC and LTC will go up in the wake of the collapse of Liberty Reserve.
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Its either going to be Bitcoins or Nuka-Cola caps...  |
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