Vlad2Vlad (OP)
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July 29, 2013, 12:22:53 AM |
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@Perfect agent,
I haven't read up on this specifically, I could probably google it right now and pretend to really know it but I'll you what mining does as I picked up in bits and pieces.
First, more miners secures the network as more block chains are created.
Second, more owners increase the number and frequency of the confirmations.
Third, miners are needed as people mine a portion of their CPU/GPU cycles are taken and used to create the next block chain, so without miners bitcoin can't exist. This is why Bitcoin eats the energy of a nuclear powerplant?
This is all I know, but I'd love to hear additional things from you. From my point of view, bitcoin et al are financial instruments, I have a more theoretical mind and small things I find tedious and to me have little to no value. Like, now does bitcoin work, it makes little difference to me as long as I know its secure and it works and I know that there is nothing in existence the govt can't confiscate and make their own.
So why would I waste memory space learning useless things which I cannot change and really help me with nothing. It would have helped me with nothing when launching my coin as the miners you get is almost pure luck at this time unless you can hype your coin or advertise it.
So I try to focus on things of important and things I can change, like features for example or how to make a better coin, how to make a more popular coin, things I can alter cause no matter how much I learn about Bitcoin's functions I will never alter the way it's mined since a phd mathematician or a team of them are much smarter than me and I'm sure it was done right cause in my mind, govt or not, this was done with a purpose.
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Vlad2Vlad (OP)
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July 29, 2013, 12:26:23 AM |
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I knew the answer to the network mining question before spider-man answered it. I posted yesterday that the 1TH of ASICS I bought will help secure the Bitcoin network the more miners the more confirmations and I'm sure there's more to it. And making free tax free money a monkey know that part.
Nope. No more transactions. Just more idiots fighting over ass pennies. Also, what makes you think this income is tax free? Seriously, you know anyone who has had to pay taxes on the devcoins, litecoins or even bitcoins they sold last year? Lol, there's no real way to track it yet which is why bitcoin has been use to launder billions if mafia money. But if you're a boyscout and you wanna pay 45% tax on your capital gains from any coins you sold this year or last, I'm sure the IRS will take it. And this is another sign the govt is behind this. People have made millions yet the govt hasn't even brought up the tax issue. Businesses accept bitcoins which they won't pay taxes on yet the govt sits idle. They only do that if that want that something to take off, like with tax free Internet.
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PerfectAgent
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July 29, 2013, 12:50:51 AM |
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@Perfect agent,
I haven't read up on this specifically, I could probably google it right now and pretend to really know it but I'll you what mining does as I picked up in bits and pieces.
Ok. Thank you for being honest about it. First, more miners secures the network as more block chains are created.
Incorrect. More miners do not create more blockchains. There is only one blockchain per cyptocurrency (that can be forked, though miners will only see one blockchain). Second, more owners increase the number and frequency of the confirmations.
Incorrect, in the long term. The confirmations occur at a roughly steady rate, though they may occur faster or slower in between difficulty adjustments. But Bitcoin, for example, will always tend toward 10 minute confirmations, always has, always will. Third, miners are needed as people mine a portion of their CPU/GPU cycles are taken and used to create the next block chain, so without miners bitcoin can't exist. This is why Bitcoin eats the energy of a nuclear powerplant?
Mostly incorrect. Without miners, Bitcoin can't exist, but that has nothing to do with how much power is used. The only reason you would have so much power consumption is because it helps reduce the likelihood of a 51% attack. Also, miners don't just generate blockchains. This is all I know, but I'd love to hear additional things from you. From my point of view, bitcoin et al are financial instruments, I have a more theoretical mind and small things I find tedious and to me have little to no value. Like, now does bitcoin work, it makes little difference to me as long as I know its secure and it works and I know that there is nothing in existence the govt can't confiscate and make their own.
If you're just gonna look at this as a financial instrument, by all means do so (wisely, which you haven't, to be honest). You can't create a coin without knowing how it works. You set values for time between difficulty adjustments and all that without even knowing what that is for! So why would I waste memory space learning useless things which I cannot change and really help me with nothing. It would have helped me with nothing when launching my coin as the miners you get is almost pure luck at this time unless you can hype your coin or advertise it.
So I try to focus on things of important and things I can change, like features for example or how to make a better coin, how to make a more popular coin, things I can alter cause no matter how much I learn about Bitcoin's functions I will never alter the way it's mined since a phd mathematician or a team of them are much smarter than me and I'm sure it was done right cause in my mind, govt or not, this was done with a purpose.
You need to know why things are done. Just like my toothpaste example, you need to know what toothpaste is and what it is for if you're going to found a toothpaste company, and the same is with creating a coin. Lol, there's no real way to track it yet which is why bitcoin has been use to launder billions if mafia money.
And this is another sign the govt is behind this.
Think about what you just said for a second. People have made millions yet the govt hasn't even brought up the tax issue.
http://www.nationaljournal.com/tech/the-tax-man-cometh-for-your-bitcoins-20130618
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mnyonpa
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July 29, 2013, 02:44:35 AM |
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So GoDaddy charges about $10/yr for domain registration. So you spent $1400 in domains alone? This is absurd.
Yes, and I believe he had mentioned it somewhere before.
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BTC address for donations: 1EEjkAqLXTxscD24D1S6aXWtxPUWxSkHcd
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AgentME
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July 29, 2013, 02:51:57 AM |
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You need to know why things are done. Just like my toothpaste example, you need to know what toothpaste is and what it is for if you're going to found a toothpaste company, and the same is with creating a coin.
That's easy, toothpaste is a ponzi scheme that is going to explode after the toothpaste ETF and everyone is going to want their own tooth paste brand, so we need to get into the market now.
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DeathAndTaxes
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July 29, 2013, 03:26:18 AM |
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You need to know why things are done. Just like my toothpaste example, you need to know what toothpaste is and what it is for if you're going to found a toothpaste company, and the same is with creating a coin.
That's easy, toothpaste is a ponzi scheme that is going to explode after the toothpaste ETF and everyone is going to want their own tooth paste brand, so we need to get into the market now. Also make sure the toothpaste expires in 2-3 years because everyone knows the government is going to take over toothpaste anyways but it doesn't mean you can't get in at the ground floor of the toothpaste ponzi and dump your worthless tubes on suckers before the government shuts it all down.
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greyhawk
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July 29, 2013, 07:33:05 AM |
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Toothpaste is a conspiracy by dentists ![Angry](https://bitcointalk.org/Smileys/default/angry.gif)
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Vlad2Vlad (OP)
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July 29, 2013, 07:58:06 AM |
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You need to know why things are done. Just like my toothpaste example, you need to know what toothpaste is and what it is for if you're going to found a toothpaste company, and the same is with creating a coin.
That's easy, toothpaste is a ponzi scheme that is going to explode after the toothpaste ETF and everyone is going to want their own tooth paste brand, so we need to get into the market now. That's absurd. No economics school ever offers a course on how a stock market exchange itself structurally functions. It's absurd. Yet you can go get an MBA and work on a major exchange. This whole idea that i need to understand the actual trading structure of a financial instrument when there's no way for me to change it or alter it is ridiculous. It doesn't fit with any courses taught for finance or economics. ZERO. You need to understand the theory, the mechanics and what makes an instrument a success and how to value it which in this case it's near to impossible. But how It works, when that is set in stone, who gives an F? That's why banks hire programmers and IT managers and shove them in a room out of the way, cause they do ZERO actual money making for the banks.
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Vlad2Vlad (OP)
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July 29, 2013, 08:01:31 AM |
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Toothpaste is a conspiracy by dentists ![Angry](https://bitcointalk.org/Smileys/default/angry.gif) That's absolutely true. Man, you're the first to get that (besides me and al gore of course).
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Vlad2Vlad (OP)
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July 29, 2013, 08:09:49 AM |
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So GoDaddy charges about $10/yr for domain registration. So you spent $1400 in domains alone? This is absurd.
Yes, and I believe he had mentioned it somewhere before. Yeah, I really only have to sell one domain name on the next 12 months to get all my money back, if my theory is correct. My wife thought it was really stupid but then again, if I so my research and I think it's right nobody is gonna stop me. I wanted to buy more but I stopped. I don't see $1,400 as a lot to invest on something this big. $10,000 is very little, but I'm not working right now. I just lost $12,500 on nokia stock options last week and that was on a hunch 1/10th as strong as bitcoin and alt coins. It sucks cause I'm not working, So now this makes getting money to invest in coins that much harder. But I do have some Apple option calls which expire in November and I hope that new make lady CEO grows a brain and releases multiple iPhones next month. I have lost more money cause of idiot CEOs than all other reasons combined. I lost $50,000 on MVIS due to outright lies by the CEO. I leap for joy when Icahn moves in and fires another glorified idiot CEO and sells off his company and shames like he did to the ying yang idiot from yahoo who turned down a $40 billion offer from Microsoft which was a gift, its not worth even half that now. Nokia will get bought out by Microsoft - most likely their handset divisions for around $20 Bilion. My timing was simply off, had I bought shares instead of options i would have made good money but I wants to make 20 times more using leverage of options. Bad timing means you lose it all.
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whlx
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July 29, 2013, 09:10:03 AM |
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Where can Nuggets be traded?
When can we see Nuggets in Cryptsy or Coins-E or anyother?
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Vlad2Vlad (OP)
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July 29, 2013, 09:39:56 AM |
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Like this new guy asked me a few days ago if I could open my command line (black box thing) to communicate with him that way? What? What a weird request. I didn't do it cause it make me suspicious but why would anyone want to communicate that way when we can just email or text or Skype or anything.
I mean, I might not be computer savvy but if I let you in my command box I think you get access to my computer. Am I being just paranoid here or what?
Are you talking about me asking you if you know how to use the cmd line? That was because you asked me how to mine. The best/easiest way to do that right now is by typing in the commands in the command line. It had nothing to do with communicating with me me, or giving me access. Was just a simple question to see if you could even be able to follow instructions of what to type to then mine. Oh well, so that is why you never really replied, your loss. And if you don't know why not to use Skype I'm sorry 21, twoBits just vouched for you. Your ID was so new that thought maybe you were you know who, trying to hack in my computer. I can't get my computer to mine anything and I want to mine nuggets and galaxy coin right now. It's almost 3am, but I trust twoBits and I also trusted you, I gave you my login credentials and you really helped me but then the command line thing freaked me out cause that was just 2 days after my coin got hijacked. I'm sorry, I just heard you asked twoBits to help me, you and fuzzybear. Man, I wish so much I could pay you guys. I have to get to bed but tomorrow if you can help me get my GPU computer to mine I will open my command line and I'll install Skype, or I'll give you my cell number. I trust you. Thanks again, there's few guys like you, twoBits, fuzzybear and unthinkingbit on this entire forum. Generous people with integrity. I have literally begged twoBits twice to take nearly .5 BTC and 7,777 NUGs in bounties he has more than earned and he won't take them. Who does that? I don't think i could. Wow!!!!
God Bless!
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Vlad2Vlad (OP)
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July 29, 2013, 09:45:30 AM |
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Where can Nuggets be traded?
When can we see Nuggets in Cryptsy or Coins-E or anyother?
They're on icycryptcy right now. Well, twoBits finally fixed the broken code which should start trading the golden blocks soon and after that I hope to see more people mining. This is not a pump and dump coin. I'm not gonna go to any exchanges and request my coin to be put on until its no longer a total shitCoin. I hope to hire someone to add more features as well but right now I put money in some GPU's since I have no way to gain my own coins. But I'll do my best to make NUGGETS a Real coin.
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frobley
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July 29, 2013, 09:48:43 AM |
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So GoDaddy charges about $10/yr for domain registration. So you spent $1400 in domains alone? This is absurd.
Yes, and I believe he had mentioned it somewhere before. Hmm, I hold double that for a single online business, it's not uncommon.
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hotcoldcoin
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July 29, 2013, 10:08:27 AM Last edit: July 29, 2013, 10:28:51 AM by hotcoldcoin |
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Where can Nuggets be traded?
When can we see Nuggets in Cryptsy or Coins-E or anyother?
They're on icycryptcy right now. And poof! It's gone! iceycrypt says "Sorry the site is going down!" and "Sorry the site is going down! PLEASE CANCEL ALL TRADES!" Hattip r3wt. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fmedia.tumblr.com%2Ftumblr_m6nmkiETKo1r7dkwy.jpg&t=665&c=NhAM_JBjkuJR9g) Annnnd more fun in chatbox: "...the market has been shutdown because of errors that we are unable to resolve in a timely manner." "Everything is just going back to the owner since the trade system got fucked up"
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PerfectAgent
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July 29, 2013, 02:50:12 PM Last edit: July 29, 2013, 03:22:08 PM by PerfectAgent |
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You need to know why things are done. Just like my toothpaste example, you need to know what toothpaste is and what it is for if you're going to found a toothpaste company, and the same is with creating a coin.
That's easy, toothpaste is a ponzi scheme that is going to explode after the toothpaste ETF and everyone is going to want their own tooth paste brand, so we need to get into the market now. Also make sure the toothpaste expires in 2-3 years because everyone knows the government is going to take over toothpaste anyways but it doesn't mean you can't get in at the ground floor of the toothpaste ponzi and dump your worthless tubes on suckers before the government shuts it all down. Now you guys are amazing! So GoDaddy charges about $10/yr for domain registration. So you spent $1400 in domains alone? This is absurd.
Yes, and I believe he had mentioned it somewhere before. Hmm, I hold double that for a single online business, it's not uncommon. That does make sense, but it looks like there was no planning at all in this case. Just throwing money left and right.
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AgentME
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July 29, 2013, 03:12:21 PM |
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You need to know why things are done. Just like my toothpaste example, you need to know what toothpaste is and what it is for if you're going to found a toothpaste company, and the same is with creating a coin.
That's easy, toothpaste is a ponzi scheme that is going to explode after the toothpaste ETF and everyone is going to want their own tooth paste brand, so we need to get into the market now. That's absurd. No economics school ever offers a course on how a stock market exchange itself structurally functions. It's absurd. Yet you can go get an MBA and work on a major exchange. This whole idea that i need to understand the actual trading structure of a financial instrument when there's no way for me to change it or alter it is ridiculous. It doesn't fit with any courses taught for finance or economics. ZERO. You need to understand the theory, the mechanics and what makes an instrument a success and how to value it which in this case it's near to impossible. But how It works, when that is set in stone, who gives an F? That's why banks hire programmers and IT managers and shove them in a room out of the way, cause they do ZERO actual money making for the banks. I'm not sure how any of that relates to my post, but that last sentence is full of errors. The financial industry pays extremely well for good programmers as far as I've heard. And financial institutions pretty much entirely rely on computers these days, so to say they "do ZERO actual money making for the banks" seems to show a huge lack of understanding. (If that were true, why would banks even hire programmers?) So GoDaddy charges about $10/yr for domain registration. So you spent $1400 in domains alone? This is absurd.
Yes, and I believe he had mentioned it somewhere before. Hmm, I hold double that for a single online business, it's not uncommon. Do you mean you own 280 domains for a single online business? If you're in the domain squatting business, I just hope you at least have better taste in names than Vlad.
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Vlad2Vlad (OP)
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July 29, 2013, 08:09:43 PM |
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I'm not sure how any of that relates to my post, but that last sentence is full of errors. The financial industry pays extremely well for good programmers as far as I've heard. And financial institutions pretty much entirely rely on computers these days, so to say they "do ZERO actual money making for the banks" seems to show a huge lack of understanding. (If that were true, why would banks even hire programmers?)
Quote from: frobley on Today at 09:48:43 AM
Incorrect, programmers can be bought from India for /10th the price and or course they'll pay Americsn programmers their $70K, that's not big money. An MBA grad starts at $250K, plus bonuses, this is a fact.
And no, it's not the programmers that make the big money as far as coding - it's the PhD physicists and mathematicians who then fell the programmers what models and programs to build and these are called black boxes which do high frequency trading which do in fact are responsive for a huge % of the trading activity and they make lots if money, but the bulk of the money, the big money is still made by traders, economists, heads if hedge finds, etc because a black box can't predict the future I'd see a good buy it simply trades in milliseconds based on a preprogrammed trend or news and it simply beats the human reaction time.
I wasn't talking about this, and even this, you don't need to get to be a trader or economist, but I was referring to the fact the infrastructure computers, software, hardware, and inflows and outflows of Nasdaq matters none to a trader, absolutely zero.
To make money you have to understand money not the way the printing press works. That's absurd. You guys are calling me a fool cause I have no idea how Bitcoin's printing press works. I say who gives an F. Can I change it? Does it matter? No. No. So why waste effort end memory space on useless info when I know I'll pick up the idea of it eventually.
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Vlad2Vlad (OP)
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July 29, 2013, 08:13:03 PM |
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Where can Nuggets be traded?
When can we see Nuggets in Cryptsy or Coins-E or anyother?
They're on icycryptcy right now. And poof! It's gone! iceycrypt says "Sorry the site is going down!" and "Sorry the site is going down! PLEASE CANCEL ALL TRADES!" Hattip r3wt. ![](https://ip.bitcointalk.org/?u=http%3A%2F%2Fmedia.tumblr.com%2Ftumblr_m6nmkiETKo1r7dkwy.jpg&t=665&c=NhAM_JBjkuJR9g) Annnnd more fun in chatbox: "...the market has been shutdown because of errors that we are unable to resolve in a timely manner." "Everything is just going back to the owner since the trade system got fucked up" Man, maybe that guy deserves a scammer tag. He just needed to unload all his NUGs. Bastard!
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DeathAndTaxes
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July 29, 2013, 08:17:38 PM |
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Incorrect, programmers can be bought from India for /10th the price and or course they'll pay Americsn programmers their $70K, that's not big money. An MBA grad starts at $250K, plus bonuses, this is a fact. Experienced programmers make a lot more than $70K. There are very few software developers with PhD. That is just your nonsense that Phd = better. I have worked for a lot of senior project developers and none had PhDs. One might have had a masters but honestly nobody cared. What matters is experience solving real world problems none of which is learned in college. And no, it's not the programmers that make the big money as far as coding - it's the PhD physicists and mathematicians who then fell the programmers what models and programs to build and these are called black boxes which do high frequency trading which do in fact are responsive for a huge % of the trading activity and they make lots if money, but the bulk of the money, the big money is still made by traders, economists, heads if hedge finds, etc because a black box can't predict the future I'd see a good buy it simply trades in milliseconds based on a preprogrammed trend or news and it simply beats the human reaction time. Once again I actually worked on statistical models for risk analysis and nobody on our team had a PhD. None. Models that were used in the pricing of tens of billions of dollars in distress assets. A half dozen computer science professionals (db engineers, developers, project managers) and a few statisticans no PhD. Then again this is like a chef explaining to a guy who ate a hamburger once how culinary arts works. As for every MBA making $250K starting well that is just silly. Then again how much are you making on unemployment? My guess is less than $250K.
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