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isn't demonoid open now?...
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Thank you for your service to the community mr. jerryb. I'm sure there are a few people here that would be eager to tip you if you posted a bitcoin address.
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mrjones your numbers are right but thats only if bitcoins stay at the current value. As the difficulty goes up it will be harder for each miner to get bitcoins and as something becomes scarce its value goes up. I forget who it was that posted a chart recently showing that bitcoin value has been fallowing the mining difficulty trend pretty closely. If difficulty goes up 13% a week you can expect long term bitcoin value to go up every week.
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my bad. assumed it was U.S. based.
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Just one hangup ... Doesn't mtgox have a $1000/day withdrawal limit? I don't see how you could get that many coins out of mtgox in 2-4 months.
IMO if a user is willing to provide full KYC info to mtgox, mtgox should permit removal of that limit. they can't remove the limit for the reason explained here: http://bitcointalk.org/index.php?topic=5627.0 |
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I'm doing this exact thing right now but from 1 or 2 large investors. Having a lot of tiny investors will be a logistical nightmare. Also Im structuring a bit different. Im taking the money as a loan with 20% interest. $10,000 loan form investor= $12000 to be paid back within the year. Then I completely own the machines and all the bitcoins they make.
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Here's my two cents on anarchy. Regardless of whether its a good idea or not, its impossible, and I'll explain why.
Its a basic human desire to poses. To own bitcoins, dollars, a house and wife with 2.4 kids and a car in the garage, what have you. We all have the desire to acquire something. In an anarchic system those items, once acquired, have no security. There's nothing stopping anyone from just coming up and taking anything you have. So the general population would inevitably seek to secure their assets by hiring someone to protect them; to enforce the concept of ownership. Like an old west sheriff. The seed of governance. Humanity can not abide anarchy as it directly violates our instincts as beings that acquire and consume.
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ok, Something I want to clarify.
I wasn't suggestion the bitcoin network should be policed. I was suggesting THIS FORUM should be moderated more strictly. This is naturally the first place new merchants come when they learn about bitcoin and they want to know more. If the owner of 'grandma's home made cookies' comes here and sees a thread titled "Buy your LSD here, Anarchy, Death to the government" they are going to go running for the hills, and merchants are what give the bitcoins used for your drug money most of its value. Start a site called LSD4BTC.com forums and advertise there to your hearts content for all I care.
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I think keep it but RAISE its fee, to discourage its frivolous use.
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8 from day one. endless 8.  same for me |
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If difficulty continues to rise at the current rate, mining with a 5870 will become uneconomical in about 6 or 8 weeks (at the price I pay for electricity) at which time I guess my cluster will be dismantled and there will be some cards on eBay. I have been wondering whether it is worth selling some 5870s before the breakeven point as a hedge against the possibility that a lot of used 5870s will turn up on eBay at about the same time.
as the difficulty rises you will get fewer bitcoins but they will be worth more because everyone else will be getting fewer as well. as they become harder to get the price will go up. as long as your machine keeps chugging along at its current hash rate you should be profitable. |
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PayPal mining?  an AF joke though there's no reason he couldn't convert the bitcoins at the current mt. gox rate and deposit it directly into a paypal account. |
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thats more or less exactly what i want to offer but his prices are way higher
also his "pro rigs" get about 200mhash/s less then mine
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but i intend to have tracking on the package being sent to prove that it arrived at the address as well. this would be no different the buying a prepaid xbox live card from amazon but its a card with bitcoins on it instead.
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I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.
Would anyone be interested in something like that?
I doubt that you could get seller protection this way, but if you can, go for it. why would you doubt it? the bitcoins being removed would be proof that the card arrived at the address verified by paypal and would satisfy all the requirements described here: https://cms.paypal.com/us/cgi-bin/?cmd=_render-content&content_ID=security/seller_protection_learn_more |
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I have a mining rig with 2x5970's in it that gets 1.2 ghash/s. Im thinking about leasing week long blocks on the thing if people are interested.
Basically you would buy a week for X dollars via paypal and you would get all the bitcoins the rig generates during that time.
I think i thought of a way to prevent chargebacks as well. Paypal has seller protection on physical items shipped to a verified address. So I would deposit the bitcoins in a mybitcoin.com and at the end of the week mail the buyer a card with the username and password of the account to collect the bitcoins. If the coins are collected thats proof that the item was received by the person at the address tied to the paypal account and would be covered by paypal seller protection.
Would anyone be interested in something like that?
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If they bought all the coins one day then stopped buying them the next there would be none in circulation in the economy. we would be back to day one accept it would be a lot harder to get people to accept bitcoins after a giant crash like that.
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