Cajun (OP)
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January 19, 2014, 05:14:39 PM |
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Looking for a realy good starter build. I want to make an antminer or red fury mining system. Please Link me to a good build. Or post your build down here and tell what it is Thanks!
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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ccualumni
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January 19, 2014, 07:09:15 PM |
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This could be a very informational post. I am subscribing so that I can see the response as well.
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Cajun (OP)
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January 19, 2014, 07:22:50 PM |
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It would be really helpful for some of the people that are just starting to mine ( like myself ) too see some builds and other links for good starting builds.
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Dorgon
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January 19, 2014, 08:18:14 PM |
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I am trying to get into mining as well, the problem is that making a profit is almost impossible these days. Pre-ordering a device is useless, all pre-orders are getting delayed. My estimate is that all the 2+TH/s machines will be useless from the end of march purely based on the estimated difficulty levels. Then there is the FBI coming, they will soon sell over 30.000 coins. This could bring down the price of the bitcoins dramatically, some people say that the price will explode after this, but no one can know for sure. Buy nothing lower than $3,50/GH/s today and start mining within 2 or 3 weeks or you will not see your money back.
But this is a interesting topic indeed.
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ClumsyAssassin
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January 19, 2014, 08:37:00 PM |
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I'd be grateful to have some advice, as well.
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Cajun (OP)
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January 19, 2014, 09:04:21 PM |
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I am trying to get into mining as well, the problem is that making a profit is almost impossible these days. Pre-ordering a device is useless, all pre-orders are getting delayed. My estimate is that all the 2+TH/s machines will be useless from the end of march purely based on the estimated difficulty levels. Then there is the FBI coming, they will soon sell over 30.000 coins. This could bring down the price of the bitcoins dramatically, some people say that the price will explode after this, but no one can know for sure. Buy nothing lower than $3,50/GH/s today and start mining within 2 or 3 weeks or you will not see your money back.
But this is a interesting topic indeed.
Whats this about the FBI? I just want a small good build just to have it. I have some extra money, so i might as well invest a little. and what are the preorders? For what?
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gpucoolingmethod
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January 19, 2014, 09:23:51 PM |
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Cajun (OP)
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January 19, 2014, 09:45:38 PM |
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oh damn. Thats alot of fricked BTC. Do they still have some on silk road?
and i know xD
the 6 min post limit is stupid hahahah
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empoweoqwj
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January 20, 2014, 03:17:57 AM |
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I am trying to get into mining as well, the problem is that making a profit is almost impossible these days. Pre-ordering a device is useless, all pre-orders are getting delayed. My estimate is that all the 2+TH/s machines will be useless from the end of march purely based on the estimated difficulty levels. Then there is the FBI coming, they will soon sell over 30.000 coins. This could bring down the price of the bitcoins dramatically, some people say that the price will explode after this, but no one can know for sure. Buy nothing lower than $3,50/GH/s today and start mining within 2 or 3 weeks or you will not see your money back.
But this is a interesting topic indeed.
Problem is nobody knows when the FBI sale will happen or how it will take place. So many unknowns in the bitcoin space. Scary indeed if you are just thinking of mining, or worse, pre-ordering expensive ASICS
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ccualumni
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January 20, 2014, 04:27:39 AM |
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oh damn. Thats alot of fricked BTC. Do they still have some on silk road?
The guy that supposedly ran Silk Road has $120 million in BTC on his personal computer. The government may seize those as well and end up selling them.
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empoweoqwj
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January 20, 2014, 04:50:24 AM |
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oh damn. Thats alot of fricked BTC. Do they still have some on silk road?
The guy that supposedly ran Silk Road has $120 million in BTC on his personal computer. The government may seize those as well and end up selling them. That will take a lot more work from the lawyers to get those. Could be years away ... not worth worrying about at the moment. There isn't even a schedule to sell the first lot yet ... He's not even been convicted of anything yet? Strange to me the government can sell anything but hey, I'm not American, don't understand their laws.
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ccualumni
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January 20, 2014, 05:01:07 AM |
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Keep in mind that the set of btc they plan on selling were taken from the Silk Road servers. Since no one claimed to owning Silk Road, no one claimed the btc.
The coins are basically found money. If no one claims money the government found it becomes property of the government. In this case everyone knows who owns the money, but there is no way anyone will say it is theirs.
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Cajun (OP)
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January 20, 2014, 05:19:41 AM |
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oh wow, thats really really rediculous tbh. wow
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Quix
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January 20, 2014, 05:38:59 AM |
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FBI stole bitcoins from Silkroad.
I think the word you're looking for there is confiscated. When the government seizes assets from criminals the word is "confiscate". I don't think they'll sell on exchanges, I expect it will go up for auction like other seized assets and it really depends on who buys them what happens. If an investor buys them they could very well hold on to them for a while or sell out over a long period of time to protect the value. Or they could crash the market by trying to sell them in one day. Can't say Bitcoin is dull.
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empoweoqwj
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January 20, 2014, 08:04:12 AM |
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Keep in mind that the set of btc they plan on selling were taken from the Silk Road servers. Since no one claimed to owning Silk Road, no one claimed the btc.
The coins are basically found money. If no one claims money the government found it becomes property of the government. In this case everyone knows who owns the money, but there is no way anyone will say it is theirs.
Ah right, thanks for the explanation. Makes more sense now
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empoweoqwj
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January 20, 2014, 08:07:17 AM |
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FBI stole bitcoins from Silkroad.
I think the word you're looking for there is confiscated. When the government seizes assets from criminals the word is "confiscate". I don't think they'll sell on exchanges, I expect it will go up for auction like other seized assets and it really depends on who buys them what happens. If an investor buys them they could very well hold on to them for a while or sell out over a long period of time to protect the value. Or they could crash the market by trying to sell them in one day. Can't say Bitcoin is dull. I presume they have a responsibility to get the max $ value for US taxpayers? Therefore an auction is most likely, quite possibly split into several lots. Trying to sell quickly on an exchange would be great for people looking to get cheap coins, but terrible value for US taxpayers.
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Cajun (OP)
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January 20, 2014, 10:49:44 PM |
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So will the BTC Value go down if the government sells it all?
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ccualumni
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January 20, 2014, 11:01:04 PM |
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So will the BTC Value go down if the government sells it all?
I think it will unless they sell it all to 1 entity and they hold on to it.
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empoweoqwj
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January 21, 2014, 04:38:57 AM |
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So will the BTC Value go down if the government sells it all?
Temporarily of course because of increased supply. But by how much and for how long depends on how government does the sale.
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