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Old 06-13-2013, 05:40 PM   #601
etothen
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Quote:
Originally Posted by dmross View Post
Somewhere along the Lawrence Expressway in San Jose, California...

http://i.imgur.com/YMqrrDJ.jpg
Anyone get the reference? Or is it as simple as 'bitcoin is tough!', if so they are going to find that a honey badger, while able to scare a lion, is unable to scare governments, and if they make significant economies nervous they will disappear at the speed of light.
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Old 06-13-2013, 06:10 PM   #602
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It's an economic idea that's existed for a while but is just being hyped up on the internet?
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Old 06-13-2013, 06:15 PM   #603
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Originally Posted by Chewyguru View Post
So BTC mining/trading experts, if I invested $200,000 in BTC would I be better off mining or speculating? So far seems exchanges and speculation are the best moneymakers.

I wonder how profitable mining would be if you paid all your taxes? (Factored that in?)
speculating has both higher risk and higher reward than mining

don't forget, you can mix both... (mine, but don't sell daily. hold the coins if you speculate a rise in price in the future)
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Old 06-13-2013, 06:28 PM   #604
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Quote:
Originally Posted by etothen View Post
...and if they make significant economies nervous they will disappear at the speed of light.
Bitcoin is just about at that stage, and like Honey Badger, it doesn't give a damn about what anyone thinks. I still ask myself why anyone would be nervous about about a cheat-proof money system...

http://globalforumljd.org/events/201...currencies.htm

https://papers.ssrn.com/sol3/papers....act_id=2248419
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Old 06-13-2013, 07:31 PM   #605
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FWIW -

Quote:
Originally Posted by Jennifer Shasky Calvery, director of the Treasury's Financial Crimes Enforcement Network
"Administrators or exchangers of virtual currencies have registration requirements and a broad range of [anti-money- laundering] program, recordkeeping, and reporting responsibilities. Those offering virtual currencies must comply with these regulatory requirements, and if they do so, they have nothing to fear from Treasury"
http://news.morningstar.com/all/View...00537_univ.xml
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Old 06-13-2013, 08:35 PM   #606
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Quote:
Originally Posted by etothen View Post
Anyone get the reference? Or is it as simple as 'bitcoin is tough!', if so they are going to find that a honey badger, while able to scare a lion, is unable to scare governments, and if they make significant economies nervous they will disappear at the speed of light.
Honeybadger don't care.

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Old 06-17-2013, 01:40 PM   #607
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man, LTC dropping to around $2 even almost... really makes me want to buy in straight up for usd from btc-e... although it would be equally nice if it kept dropping to around $1/LTC or so for summer which would cause a large chunk of miners to drop off and keep difficulty low... HMMMMM.. decisions!
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Old 07-01-2013, 02:00 PM   #608
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Well LTC rebounded back to high 2's, and BTC finally dropped to consistent sub-100 recently...

It's going to be an interesting summer (read: *****ty summer) that is for sure.. ASIC deployment on BTC is resulting in most of the GPU farms switching to scrypt mining, which is bumping up LTC difficulty quickly even though #HOTsummer2013 is just getting started. And obviously value doesn't follow difficulty, so it will be curious to see what the breaking point of heat/cooling and electricity costs are for people mining scrypt coins.

being NWIC, i am lucky to have low electricity costs, but sealing off my cluster bunker might prove to be more difficult as my house was built in '44 :/
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Old 07-01-2013, 02:38 PM   #609
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Quote:
Originally Posted by visibiliti View Post
Well LTC rebounded back to high 2's, and BTC finally dropped to consistent sub-100 recently...

It's going to be an interesting summer (read: *****ty summer) that is for sure.. ASIC deployment on BTC is resulting in most of the GPU farms switching to scrypt mining, which is bumping up LTC difficulty quickly even though #HOTsummer2013 is just getting started. And obviously value doesn't follow difficulty, so it will be curious to see what the breaking point of heat/cooling and electricity costs are for people mining scrypt coins.

being NWIC, i am lucky to have low electricity costs, but sealing off my cluster bunker might prove to be more difficult as my house was built in '44 :/
I literally have no idea what any of this says.
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Old 07-01-2013, 03:15 PM   #610
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So, my office doesn't pay for the electricity we use for the commercial suite.

Should I start building mining rigs? I already have my work desktop mining 24/7, but it's only got an ATI 7850 or something like that, nothing beefy.
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Old 07-01-2013, 04:19 PM   #611
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^ Well, I mean, if you are into the hobby than yeah! Nothing beats free electricity...

That being said, buying new hardware today and trying to predict a quick ROI is a heated subject of discussion, with the naysayers backing up claims that you probably won't break even for almost a year. However, if you go into it knowing that you will sell your hardware in 6 months on the computer forums, and you get free electricity from the office, there is a good chance that you could still make enough to turn a bit of profit. If you only break even, at least you DID it and learned new things, instead of sitting on the sideline
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Old 07-01-2013, 04:21 PM   #612
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Quote:
Originally Posted by XanRules View Post
I literally have no idea what any of this says.
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Old 07-02-2013, 03:22 AM   #613
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Is there a client that runs silently, with no command prompt window, or system tray icon? Perhaps one that runs as a service?

I'd like to put it on all the servers/desktops that stay on at my office.
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Old 07-02-2013, 05:17 AM   #614
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I want a ASIC rig.
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Old 07-16-2013, 06:56 PM   #615
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Bitcoin Transactions Rise As Economic Unrest Hits Argentina

http://techcrunch.com/2013/07/16/bit...its-argentina/

Quote:
Bitcoin has created an interesting solution for problematic economies. Because it allows seamless extraction of wealth out of a bank account and into the cloud, Argentinians have been ramping up usage of the cryptocurrency in an effort to stem the effects of their worsening economy and their choice to go BTC is actually moving the market slightly.

Even as BTC penetration in other countries remains flat or down, Argentina’s portion of Bitcoin downloads has risen from 1% of the whole to 3% and interest in the currency is at an all time high. According to The Genesis Block, the country’s first Bitcoin meetup group started in 2008 with eight members and is now up in the 400 member range.

The post goes into the economic details of the move towards Bitcoin but in short, the Argentinian government fined a group of economists for recalculating inflation to much higher levels than the official party line. In addition, dollars are being used as an alternative currency thanks to a weak peso and the potential for capital controls like those happening in Cyprus. Argentinians just want to get their money out of banks and, to that end, they’re trusting variable BTCs over their own currency.

In all financial reporting there is always a bit of if-then conjecture. However, the rise in interest in Bitcoin in this part of the world connects to some real world political choices. It’s a fascinating example of how the currency is taking on a life of its own and, more importantly, becoming a viable investment alternative.
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Old 08-28-2013, 08:12 PM   #616
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I know this thread doesnt see much traffic unless big news hit, but I figure I would share a project I have been working on. I got into mining a while back and have 3BTC now which just about cover my cost of getting in. The markets were what really interested me after a while and I realized that the real money to be made was in computational investing.

That being said, I am developing a site where I can aim bots at to test the profitability. I originally was just developing it for myself but I think it shows some real promise. You can check it out here at www.intestment.com. Still have some work before it goes fully live but I want any feedback I can get on it.
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Old 08-28-2013, 08:47 PM   #617
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Originally Posted by nab911 View Post
I know this thread doesnt see much traffic unless big news hit, but I figure I would share a project I have been working on. I got into mining a while back and have 3BTC now which just about cover my cost of getting in. The markets were what really interested me after a while and I realized that the real money to be made was in computational investing.

That being said, I am developing a site where I can aim bots at to test the profitability. I originally was just developing it for myself but I think it shows some real promise. You can check it out here at www.intestment.com. Still have some work before it goes fully live but I want any feedback I can get on it.
Dump everything now and thank me later.
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Old 08-28-2013, 09:16 PM   #618
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Originally Posted by etothen View Post
Dump everything now and thank me later.
I have been in cash most of the time. The money I make is buying during rises and selling quickly. I never hold anything for more than a day.
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Old 09-09-2013, 08:09 PM   #619
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Quote:
The first time Ryan Johnson bought Bitcoins — an emerging digital currency that isn't controlled by any authority such as a central bank — was with a pocket full of cash from a stranger he had met online.

"It was almost like a sketchy drug deal," recalls the 31-year-old Vancouver resident.

Since that first transaction in January, Johnson has been exchanging his Canadian cash for digital currency at Bitcoiniacs, a physical store in Vancouver that acts like a Bitcoin broker.

"It's just much more comfortable to go sit down in an office at a brick-and-mortar building with a professional that knows a lot about Bitcoins, do a professional transaction and get a receipt for it," says Johnson. "It's reassuring."

Soon, Johnson and other Canadian Bitcoin enthusiasts will be able to exchange Canadian cash for the digital currency through a kiosk that's similar to an ATM.

Bitcoiniacs says it has ordered five Bitcoin kiosks from a Las Vegas-based company called RoboCoin and intends to roll them out across Canada in the coming months, with the first machine expected to land in Vancouver in early October.

Four more kiosks will arrive in December and although their locations are not yet certain, Bitcoiniacs says it's eyeing major Canadian cities such as Toronto, Montreal, Calgary and Ottawa.

"Basically, it just make it easier for people to buy and sell Bitcoins and hopefully will drive the adoption of Bitcoin, and make it more accessible for people," says Mitchell Demeter, the 27-year-old owner of Bitcoiniacs.

Bitcoins are mathematically generated through a series of commands executed by computers in a peer-to-peer network. The process is called Bitcoin "mining" and is set up so that the total number of Bitcoins that can ever be generated is limited to about 21 million.

While some have doubted Bitcoin's validity and others have raised concerns that the unregulated currency is being used for nefarious means, a U.S. judge ruled last month that Bitcoin, which has been around since 2009, is a real currency.

Currently, acquiring Bitcoins is often done through an exchange, an arduous process that requires users to jump through several hoops, including linking their bank account to the exchange and sending in paperwork to verify their identity.

When Toronto resident Robert Burko signed up with a Canadian Bitcoin exchange in April, he says it took more than 10 days — "an eternity" — for his account to get verified.

By then the price of Bitcoin had ballooned to around US$260, before falling back down to closer to $100, and Burko had missed his chance to cash out.

"I didn't really want a long-term investment opportunity in Bitcoins, I wanted a short-term one," Burko says. "And because they took so long to verify my account I missed out on that entire window, which was very frustrating."

The alternative to using an exchange is to find someone who wants to sell their Bitcoins in an online forum, meet up with them in person, hand them some cash and scan each others' smartphones to transfer the Bitcoins to your digital wallet — which is managed through an app.

The RoboCoin kiosks are expected to make the process of buying and selling Bitcoins much easier says Jordan Kelley, the company's chief executive.

"Our goal is to make Bitcoin truly grandma-friendly," says Kelley.

Using a kiosk means you don't have to wait to verify your account on an exchange or hand cash to a stranger, says Kelley. It also makes Bitcoins more accessible to people by adding an element of legitimacy and increases liquidity in the market.

"We're trying to provide customers an in-person access," says Kelley. "Doing that really provides visibility to Bitcoins and adds a lot of trust."

The kiosks allow users to select how much money they would like to spend, insert cash into the machine and then scan a QR code on their phone to transfer the Bitcoins to their wallet. It also allows users to redeem their Bitcoins for cash.

Kelley says since announcing the machine, they have been swamped with pre-order inquiries, from everywhere from Australia to Kenya.

According to sourceforge.net, the largest number of downloads of Bitcoin software last month were in the U.S., followed by China, Germany, Russia and the U.K. Canada came in sixth place.

RoboCoin plans to ship out 10 to 15 kiosks to customers before the end of the year. The first one will go to Bitcoiniacs, says Kelley.

Demeter says many Bitcoin startups are gravitating to Canada because the Financial Transactions and Reports Analysis Centre of Canada — also known as FINTRAC — aren't as strict as regulators in the U.S.

"It's a lot more open up here, that's for sure," says Demeter.
http://www.timescolonist.com/atms-th...-fall-1.616397

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Old 10-02-2013, 07:07 PM   #620
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Old 10-02-2013, 07:11 PM   #621
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giant LTC drop because of that news... agh. gonna be an interesting few days here
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Old 10-02-2013, 07:13 PM   #622
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Uh oh the value of pretend money is in jeopardy! I better start stocking pretend canned-goods in my pretend bomb shelter!!!! THERES GOING TO BE PRETEND PANDEMONIUM!!!
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Old 10-02-2013, 07:14 PM   #623
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Originally Posted by visibiliti View Post
giant LTC drop because of that news... agh. gonna be an interesting few days here
http://i.imgur.com/sSZlyVX.gif
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Old 10-02-2013, 07:22 PM   #624
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Old 10-02-2013, 07:24 PM   #625
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Who DIDN'T see this coming?
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