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  • EADD Moderators: Pissed_and_messed | Shinji Ikari

Bitcoins

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Cornishman said:
Wow. It sounds completely bogus.

"Whether because of the DHS’ charge of operating an “unlicensed money transmitting business,” the sudden timing of the allegations, or another reason, Dwolla and Mt. Gox officials have been reluctant to comment".
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Mtgox are at fault here as they didn't register as a money services business. Flags would have been raised as soon as all the deposits and withdrawals started going through their account
 
@ Mercc96: Marco Rogan is the helpful guy at bitstamp whilst Miha Grcar will make things very difficult/impossible.

If you're lucky Miha Gcrap will be on leave when you apply and Marco will pick up your case.

But like PTCH says you are thinking too far ahead unless you want to withdraw 5p at a time lol....
 
Mercc96 said:
I've been digging all day but I failed to notice the grenade taped behind the door. I've got to mine at least 0.01 BTC before I can even send generated bitcoins to a wallet. Gah. I think I will have to leave the site running for a couple weeks. Maybe if I buy 30p worth of BTC and cyrogenically freeze myself il be like a billionaire in 2560. If we are not all in the internet by then, and physically forced into labour camps to mine 'real' pixelated gold.
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Are you really getting upset that you can't spend less than $1.11. What were you expecting to use that for?!

Mine litecoins if you're that bothered, they're 50x faster/easier/cheaper. www.coinchoose.com is good for choosing alts to mine, but if you have anything less than an ATi HD(5/6/7)850 then there's no point.

Maybe mine YAC if you have a fast CPU, but you'll probs use more power than you earn, then theres the trouble of getting it to cash. Could always try selling on localbitcoins!

bter.com and mcxnow are good for exchanging altcoins into BTC.
 
Im not really getting upset man haha , yeah whats the difference between litecoins and bitcoins?
 
^^ Faster than just your normal CPU I think, you know the big fuck off gaming graphics cards you can buy that are like £140 odd, just have like 20 of them lined up
 
with utility prices set at recognised rip off levels for consumers, whilst the companies rake in billions, i think you'll probably be spending more on electric than you'll gain making your pc work hard 24/7 for weeks on end......Unless you have your own self sufficient supply.....
 
Well, the price of a coin has been at about £85, for about a week or so now, from what I've seen. I think we can say it's finally stabilised again, after all the drama. Well done to anyone that held onto them!
 
mydrugbuddy said:
with utility prices set at recognised rip off levels for consumers, whilst the companies rake in billions, i think you'll probably be spending more on electric than you'll gain making your pc work hard 24/7 for weeks on end......Unless you have your own self sufficient supply.....
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you cant look at it at current values though. I'd rather stock up on litecoins before the difficulty goes up any further.

You dont want to be the guy asking how to mine them after they hit 1k diff.

that being said, simply buying and reselling coins is faster than mining 99/100 times with the 1 percent being if you have a collection of Radeons just running 24-7..

But it is a nice supplemental supply and is necessary for all transactions which a lot of people seem to overlook so dont talk to down on miners before youre wondering why it takes 4 hours to make one transfer
 
I wasnt meaning to talk down to anyone, sorry if it came over that way.

Firstly i have to admit i know very little about mining bit coins, or how much in electric it costs to make a load of computers work hard 24/7.

If you think its worthwhile then i should respect that. But all the little snippets or comments about it that i had seen were all saying its not worth it. I didnt look any deeper into it after that.
 
the less people mining means the people actually mining will make more coins

no shit people say its a waste of time
 
well if its so common for people to say its a waste of time that you can make a sarcy comment like that, why did you single me out for an attack for saying the same thing ?.

I cant be arsed getting into an 'internet fight' with you, or anyone else, thats not why i come here, so i wont be saying another word about this. I think youve tried to 'pick a fight' with me before. I'm not interested.
 
and just for comparison of things people use to mine

CPU - like mining with your hands
GPU - like mining with a pickaxe
ASIC - like mining with an excavator
 
wasnt picking a fight with anyone actually but I guess I just have that effect on people

im sure that other guy will come in here and say the opposite of everything I just said anyway
 
Ceres said:
are those asics real or just vapourware?
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that's the million dollar question. In my PERSONAL opinion: they are already working in limited numbers while the people who have designed them "test run" the hardware aka mine a ton of coins. Some companies seem more shady than others, like I wouldnt go near Butterfly Labs at all.

If they are actually going to sell as many as have been preordered ("they" being the collective suppliers) then bitcoin is totally fucked IMO. Difficulty is going to be insane and everyone will be pissed off they just got sheisted into buying hardware to mine a currency on the decline.

As one currency declines another will rise as people look for the next thing. What that "next thing" is going to be is up in the air right now but if I knew what the hell you could spend Novacoins on I'd be a bit more unsettled over my decisions.

Or, if you think theyre just vaporware, well you just got to see a full circle bending over of a large group of nerds who thought they were slick until bigger nerds took advantage of their greed
 
Treacle said:
Well, the price of a coin has been at about £85, for about a week or so now, from what I've seen. I think we can say it's finally stabilised again, after all the drama. Well done to anyone that held onto them!
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I could have made another £350 if it held on to them until now. Wasnt gonna risk it though. It could have gone either way. I missed the very peak, but still made £3,450 (after taking my £250 deposit into account)
 
mydrugbuddy said:
I could have made another £350 if it held on to them until now. Wasnt gonna risk it though. It could have gone either way. I missed the very peak, but still made £3,450 (after taking my £250 deposit into account)
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£3450 profit yeah ?

Nice one man i love it when us little folk make a nice touch . Especially in times of financial hardship.
 
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