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Old 04-09-2013, 06:56 PM   #401
WRX300
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that bitcoinx link is a calculator - plug in electricity/hardware costs/time/etc and it'll spit out breakeven/profit costs

im sure some mega corps are. there have been many businesses set up just to do it too
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Old 04-09-2013, 07:14 PM   #402
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we should be careful about mentioning BFL in this thread.

afaik, only avalon has ACTUALLY shipped out ASICs to people so far.

BFL has been vaporware for over a year.. the obvious rumor is they have them, but are sitting on them letting them mine coins for themselves before releasing...

Would love for anyone to chime in on the subject.
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Old 04-09-2013, 07:52 PM   #403
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blah55

Last edited by Silverpike; 04-09-2013 at 07:57 PM. Reason: Nevermind already answered
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Old 04-09-2013, 07:56 PM   #404
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Quote:
Originally Posted by WRX300 View Post
my understanding is that the source has never been released for bitcoins. the mining stuff is out there but the pseudonym of the guy who 'released' btc into the wild never came back after announcing it so there couldnt really be a fork of btc to end up with btc2 it would be an entirely different currency
Of course the source is public:
https://github.com/bitcoin/bitcoin

There are lots of little derived projects either using the main protocol or miners. All of them are also open source. Nobody uses a closed-source anything as far as I know.
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Old 04-09-2013, 08:05 PM   #405
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Quote:
Originally Posted by Silverpike View Post
Of course the source is public:
https://github.com/bitcoin/bitcoin

There are lots of little derived projects either using the main protocol or miners. All of them are also open source. Nobody uses a closed-source anything as far as I know.
That's for the client not the source behind the actual coins?

At least from looking at the source tree linked there

https://github.com/bitcoin/bitcoin/tree/master/src
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Old 04-10-2013, 03:29 PM   #406
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uh, it may be crashing

price over the past 24 hours is down about $80

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Old 04-10-2013, 03:33 PM   #407
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Whoops.
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Old 04-10-2013, 03:36 PM   #408
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I feel kinda crappy for having mined a couple BTCs when it first started, and having since lost that wallet.
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Old 04-10-2013, 03:39 PM   #409
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Still waiting for confirmation whether the drop today was from a ddos on mtgox , or was from a single user selling off his entire wallet...

If anyone has specific info w reference i'd love to see it
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Old 04-10-2013, 03:48 PM   #410
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Quote:
Originally Posted by visibiliti View Post
Still waiting for confirmation whether the drop today was from a ddos on mtgox , or was from a single user selling off his entire wallet...

If anyone has specific info w reference i'd love to see it
I offer no official info only more useless speculation but I wouldn't be surprised if that one user selling of their entire wallet was the United States Federal Reserve.

To quote the fear mongers at info wars that might be right 10% of the time.

Quote:
The bitcoin bubble is to currency freedom as the Sandy Hook shooting was to firearms freedom. In both cases, governments will use a crisis to destroy freedom while claiming to be “saving” the people.
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Old 04-10-2013, 03:57 PM   #411
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^ well ok, fine, I'll post more re: that quote for others that have not seen the related article... Not to get TOO PP up in teh OTs, but I still enjoyed reading this, lol

Quote:
How do you criminalize bitcoin? The same way you get guns banned: Plan an attack, make sure lots of people get hurt, roll out all the victims in front of the cameras, then use the sob stories as moral justification to crack down with oppressive new laws.

This is the agenda being planned right now with bitcoin. The recipe works like this:

Step 1) Central banks buy up massive quantities of bitcoin currency, driving the prices into the stratosphere and encouraging millions of people around the world to jump on board the "get rich" bandwagon.

Step 2) Once bitcoin valuations reach a sufficient level of insanity, start a massive selloff by dumping the bitcoins you already bought onto the market, offering them for sale at any price (i.e. sell into falling prices, accelerating the loss in valuations).

Step 3) Watch panic take hold as the bitcoin crash accelerates, ending in a catastrophic wipeout of "valuation" of all bitcoins.

Step 4) Find "victims" of the bitcoin crash who can tell a good sob story for the mainstream media about how they invested little Johnny's college money in bitcoin and lost it all. Roll them out on CNN and MSNBC where they cry on camera and talk about how they were ripped off by bitcoin and now they only trust the government from now on.

Step 5) Demonize bitcoin by characterizing it as a "libertarian pyramid scheme." Lash out against both decentralized currencies and libertarians.

Step 6) Once the demonization gains traction, have traitors in the U.S. Congress announce a "Consumer Currency Protection Act" that outlaws non-central bank currencies such as bitcoin. It's all "for your safety," of course. Shut down all online bitcoin wallets and exchanges, calling them "criminal pyramid schemes" and arrest a few people using bitcoin to send a warning message to the rest.

Mission accomplished! You've now made bitcoin look like a "pyramid scheme," you've scared the public into being wary of "anti-government currencies," and you've criminalized their use by consumers.

That's the goal the central banks are trying to achieve right now. It's all be set in motion by the bitcoin bubble which will inevitably lead to a bitcoin crash.
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Old 04-10-2013, 03:57 PM   #412
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Quote:
Originally Posted by WRX300 View Post
uh, it may be crashing

price over the past 24 hours is down about $80

"This Bitcoin crash could have serious economic fallout!"

-Nobody, ever




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Old 04-10-2013, 04:01 PM   #413
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so, 31 minutes ago last trade price was $160

now

Last price:$145.00000
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Old 04-10-2013, 04:02 PM   #414
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So should I sell?
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Old 04-10-2013, 04:03 PM   #415
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^ buy, buy , buy!!! when red, buy!
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Old 04-10-2013, 04:05 PM   #416
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Quote:
Originally Posted by visibiliti View Post
^ buy, buy , buy!!! when red, buy!
Why would you say that?
Theoretically, the value of $ to Bitcoins is meaningless.
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Old 04-10-2013, 04:26 PM   #417
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Quote:
Originally Posted by visibiliti View Post
^ well ok, fine, I'll post more re: that quote for others that have not seen the related article... Not to get TOO PP up in teh OTs, but I still enjoyed reading this, lol



Here's the article: http://www.naturalnews.com/039850_bi...lobalists.html

He ain't wrong.
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Old 04-10-2013, 04:26 PM   #418
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It was more of a joke,

I thought 53x12 was joking around

If he was serious, well, IDK what I would do in his situation, lol

That said, if you personally believe in the BTC, then the value of the BTC/USD will continue to rise as the dollar falls, and buying in now during the 'crash' would get you cheaper coins...
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Old 04-10-2013, 04:27 PM   #419
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Quote:
Originally Posted by DeusExMachina View Post
Here's the article: http://www.naturalnews.com/039850_bi...lobalists.html

He ain't wrong.
sorry, I lost track here... who isn't wrong?

I was not being sarcastic, I actually enjoyed reading that article. An interesting outlook that I think could be plausible.

I just don't think that is what we are seeing today, that's all.
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Old 04-10-2013, 04:27 PM   #420
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Quote:
Originally Posted by visibiliti View Post
It was more of a joke,

I thought 53x12 was joking around

Haha, yeah it was a joke. Happy you caught on. I liked your response.
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Old 04-10-2013, 04:29 PM   #421
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Quote:
Originally Posted by 53x12 View Post
Haha, yeah it was a joke. Happy you caught on. I liked your response.
Yeah, you liked it... but you didn't 'like' it!!


Oh wait, this isn't the FB thread...
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Old 04-10-2013, 04:29 PM   #422
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BitCrash Continues: Down 40% And Dumping
Quote:
Time to rename it BitCrash... or will it stage an amazing recovery? Alas, for this particular bubble, there are no NYSE circuit breakers nor is there a Federal Reserve-mandated "plunge protection team." And why should there be? The central banks hate all currency alternatives. Firehats: on, especially since the volume is still relatively lite.



Update: -50%



More from Tech Chrunch:
Bitcoin is undergoing a classic correction after quintupling in price over the past 30 days. The currency, which was trading as high as $265 earlier today on Mt. Gox, plummeted and is now trading at around $150.

We’ve reached out to one of the biggest exchanges, Mt. Gox, to see what happened. But another San Francisco-based exchange called TradeHill is saying that the crypto-currency is falling because of apparent distributed denial of service attacks on Mt. Gox and Bitstamp. A denial of service attack happens when an attacker overwhelms a target with external requests, so that it can’t honor regular requests from legitimate users.

This also happened last week when Mt. Gox when Bitcoin reached $142 and hackers attacked the exchange. At that point, Mt. Gox said it had suffered ”its worst trading lag ever.”

The Tokyo-based exchange said last week that hackers are engaging in a strategy to manipulate the price of the currency: “Attackers wait until the price of Bitcoins reaches a certain value, sell, destabilize the exchange, wait for everybody to panic-sell their Bitcoins, wait for the price to drop to a certain amount, then stop the attack and start buying as much as they can. Repeat this two or three times like we saw over the past few days and they profit.”

It looks like this may be happening again. Aside from that, any kind of 400% increase over 30 days is probably unsustainable from a technical point of view. A correction at this point would be healthy and natural.
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Old 04-10-2013, 04:31 PM   #423
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Quote:
Originally Posted by MidnightSti05 View Post
Theoretically, the value of $ to Bitcoins is meaningless.
Sure theoretically. But if you want to function in this world (i.e. buy gas for your car, milk, bread, clothes...etc.) you are very very limited in terms of what Bitcoins can do for you. That is why to some extent the value of $ to Bitcoins matters. Especially if you are using Bitcoins as a method to "protect" your savings while also trying to live.
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Old 04-10-2013, 04:31 PM   #424
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Quote:
Originally Posted by visibiliti View Post
sorry, I lost track here... who isn't wrong?

I was not being sarcastic, I actually enjoyed reading that article. An interesting outlook that I think could be plausible.

I just don't think that is what we are seeing today, that's all.
The author of the article. It's a logical explanation and a good tactic for BTC detractors (gov).
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Old 04-10-2013, 04:34 PM   #425
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Quote:
Originally Posted by DeusExMachina View Post
The author of the article. It's a logical explanation and a good tactic for BTC detractors (gov).
Gotcha. Then I believe we are in agreement.






<3
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