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1  Other / Beginners & Help / Re: Double my Terracoin! The TRC pyramid game. on: April 25, 2013, 07:40:58 AM
Was wondering what happened to this thread...

lol you don't think its quite a bit shady?

In what way. We all know what a Ponzi scheme game is. are you afraid that I will run away with your hard earned 5-75TRC?
To me that would be a waist of time since you hash out around 30coins a day from mining with two HD7970.

Let me know how to become more trust worthy.
Personal information.

Name: Alexander Svärd
Birth date: 1992.04.18
Country: Sweden
Adress: Östra malmgatan 18a.

2  Other / Beginners & Help / Re: Double my Terracoin! The TRC pyramid game. on: April 24, 2013, 03:14:16 AM
Ponzi schemes for fun and minor profit. Only a concept I could expect to see here.

Are you doing the payouts manually, or do you have some way to automate things? If so, is it open?

Okay. A guy decided to help me out and he's currently working on getting it going on autopilot.

I'll be posting updates here.
3  Other / Beginners & Help / Re: Double my Terracoin! The TRC pyramid game. on: April 23, 2013, 01:00:15 AM
Ponzi schemes for fun and minor profit. Only a concept I could expect to see here.

Are you doing the payouts manually, or do you have some way to automate things? If so, is it open?

Unfortunately It's manually, if I knew how to make it automatic and more trust worthy I would have. If you know how to do that please share.
Yes its open. You can see the status by going to the link. (replacing the ["dot"] with a . etc...)

If you are unsure just start out with a small amount like 5 TRC

I would've posted it in gambling but, I'm still just a newbie to the forum.
4  Other / Beginners & Help / Re: The worst thing that can happen, what is it? (Mining company) on: April 22, 2013, 06:09:33 PM
I could be mistaking, but isn't it important to know what your hashrate is in comparison to the total network? A block is found every 10 minutes right? So what are the chances that you or your pool is going to find that block? In my opinion that depends on the strenght of your pool in combination with your strength relative to the pool. So what I'm trying to say; once BFL starts shipping (and Avalon has a 4th and 5th release) you are going to make as much with a BFL as you do with a 7970 now..

Then again, I'm relatively new to the scene so I might be mistaking Cheesy

HTH

Yeah bust since it's suppose to be a company I'm going to take a new loan as soon as the first one is paid off and use that loan to buy in more units for hashrate. So the company evolve with the difficulty. Sooner or later when the company is big enought. I'll expand into new things like, Own mining pool, own exchange site etc..
5  Other / Beginners & Help / Double my Terracoin! The TRC pyramid game. on: April 22, 2013, 06:02:40 PM
Okay, so I saw this guy who put up a post and start a Ponzi scheme game of FRC goin link here -->https://bitcointalk.org/index.php?topic=159497.0
So I thought, why not copy it and make one for TRC since the FRC one is now closed. This round will continue for a month as of to day.

Min. payment: 5 TRC
Max. payment: 75 TRC
Fee: 5%
Adress to send TRC to: 1FuU6gr6X26jrrVULdxdhqFE58zJ1T5Ln3

You can find the game here:

http://bit"dot"ly/ZImens(Google Spreadsheet)

Please read how it works and read the rules before doing anything!

How it works:
1. players send a amount of Terracoins (5 - 75) to 1FuU6gr6X26jrrVULdxdhqFE58zJ1T5Ln3 from their Terracoin client
2. all payments get listed in the order they where received
3. as soon as the double amount of the first payment is in the pot, player will be paid out the double amount of his initial payment, minus a 5% fee
4. game continues until the round ends
5. when the round ends, the last player on the list will receive what's left in the pot, minus a 5% fee

Rules:
1. Read the How-it-works-section and all rules before doing anything
2. All players know that this is a Ponzi scheme game (read on wikipedia, if you don't know what that is)
3. Payments below 5 TRC will be kept without being doubled, payments above 75 TRC will be sent back immediately, minus a 5% fee
4. Only send payments from your Terracoin client
5. The OP is not always on, so be patient.
6. This game is for fun. Don't expect to get rich!

Best Regards.
6  Other / Beginners & Help / Re: The worst thing that can happen, what is it? (Mining company) on: April 22, 2013, 05:25:50 PM

Did you include electricity cost? Its not hard to imagine BFL Singles will be unprofitable in 1 year in europe where electricity cost is high


Actually yes I have also considered and its not that high were I live. It's something like 0.05-0.1$ kw/h and I have considered the fact that the BFL singles is unreliable on shipping. So I have decided to invest 2500$ in them and rest in computers. That way I can mine other coins like TRC, FRC, LTC with the computers and use the BFL product when it comes out on BTC. So far I check my budget and it looks good, in an estimate that the bitcoins worth doesn't go below 60$(Like in the last crasch) and a difficulty increases with maximum of 1000% this year.

The entrepreneur mentor really loved it and right now I'm looking into making a more formal and long term business plan. I just hope that they'll like it enough to get me a loan.
7  Other / Beginners & Help / Re: The worst thing that can happen, what is it? (Mining company) on: April 03, 2013, 08:59:16 PM
Something could happen to mtgox (or any other major bitcoin catastrophe) and the bottom of the entire market could fall out. The price of a BTC could go to 0 if a security flaw is found, thus rendering your entire investment kaput.

But lets say BTC value falls down to 0. Then you just buy 3000 bitcoin and wait for a rise. Cause I feel like BTC will never really lose it's value forever, sooner or later it will rise again. Because lets face it. bitcoin has made it really easy for people to launder money and buy drugs. So there's always going to be some interests in it.

I mean could bitcoin actually become totally useless, how would that happen?
8  Other / Beginners & Help / The worst thing that can happen, what is it? (Mining company) on: April 02, 2013, 09:37:35 PM
Hello there fellow bitcoin miner. I'll try to be as specific and simple as possible.

In 6 days I will have a meeting with an entrepreneur mentor that will tutor and guide me how to finance my company.
And it's not any company, it's a mining company in which I will invest 8000$. The plan is to buy four butterflylabs 60 GH/s Bitcoin Miner and let them mine a steady salary for me.

Now, I checked the math a million times to and check for fails and holes but I can't find any. (This is where you come in, I want hard criticism)

This is how it goes: [DIF=difficulty factor, Ex=Exchange Rate $/B]
Possibility 1; {DIF=6,6*10^6, EX=113, 240Gh/s}~62000$/month
Possibility 2; {DIF=1,07*10^8, EX=113, 240Gh/s}~6200$/month
Possibility 3; {DIF=6,6*10^8, EX=113, 240Gh/s}~620$/month
Possibility 4; {DIF=1,07*10^8, EX=10, 240Gh/s}~342$/month
Possibility 5; EX=<10 Buy bitcoins

Answer 1; Everything stays the same, I know it will not happen.
Answer 2; The DIF increases with 1600%. Dreams can come true!
Answer 3; The DIF increases  with 10000%. This is still really good payment.
Answer 4; The DIF Increases with 1600% but the price drops to 10$. Hay, it pays rent.
answer 5; If this happens. I'll buy bitcoins for 3000$ and wait for it to rise.

In any scenario, the investment will still be paid back within 2 Years and that's a good investment.

The reason behind 1600% increase came from the this https://bitcointalk.org/index.php?topic=89258.msg984426#msg984426 and then I just doubled it to be on the safe side. Kind of.

Now, where are the flaws. What is the worst thing could?
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