Bitcoin Discussion Thread

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Zerosum

Limp Gawd
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TradeHill topping out over $17 so far today! Woohoo!

Sure there's some speculators who think they can buy at under 17 on TH to be moved over to sell on Mox when it opens at 'so-called *claimed*' 17.50 price. They're gonna be in for a surprise I think.:p
 

Zerosum

Limp Gawd
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The only thing pools help with is variance. Without fees, over a long period of time there you should end up making the same if you were solo mining, with a high H/sec deepbit, lower Guild or one of the tiny H/sec ones.

They smooth out what you get over time so instead of hitting a jackpot every few months/weeks you'll get a small but steady amount each day/hour. How steady basically depends on how large a H/sec it is.

BTW, it's also true that if you can't solve at least a block every few days or basically within a difficulity period, you should be in a pool. Guess that means the same for a pool. If they can't solve at least a block per period, it won't work out in your favor. That's not because of the pool payout or variance it's because when you (or the pool) does solve one it'll be at whatever the current (most likely higher) difficulty then when it was easier or at a previously lower difficulty.
 

Zerosum

Limp Gawd
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if trade hill is over 17 then so will be mtgox more then likely

I don't think that would be the case. There's alot of people with BTC and $ tied up at Mox now so when they open there's going to be people who just wants to sell to get out of Gox and that will drop the price when they re-open. There's gonna be more sellers then buyers for sure when they do open.

The smart ones will find the spread between the two exchanges send BTC/$ between the two and make money that way.
 

Omegas

[H]F Junkie
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I don't think that would be the case. There's alot of people with BTC and $ tied up at Mox now so when they open there's going to be people who just wants to sell to get out of Gox and that will drop the price when they re-open. There's gonna be more sellers then buyers for sure when they do open.

The smart ones will find the spread between the two exchanges send BTC/$ between the two and make money that way.

care to make a friendly wager on that? I bet MtGox will have coins sold for over the starting price within 2hrs of opening.
 

Chihlidog

[H]ard|Gawd
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care to make a friendly wager on that? I bet MtGox will have coins sold for over the starting price within 2hrs of opening.

It might go up beyond 17.50, but not within 2 hours of opening. I dunno if I'm willing to bet real BTC on that though lol
 

Parja

[H]F Junkie
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Sure there's some speculators who think they can buy at under 17 on TH to be moved over to sell on Mox when it opens at 'so-called *claimed*' 17.50 price. They're gonna be in for a surprise I think.:p

Mt. Gox could open with a price of $1000 or $.00000001 and it wouldn't make a shit bit of difference. It's an open market. The equilibrium price between the buyers and the sellers is what determines the price.
 

Parja

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this is going to be fun, you guys ready?

Unfortunately, no. Got a 5 hour drive ahead of me tomorrow morning, so I'll be in bed tonight when it goes live again and probably won't have a chance to check it until tomorrow afternoon sometime. I might log in quick just to put in a sell bid at like $25 just in case it spikes that high, though.

Y'all have fun now. Remember, buy low, sell high!
 

note235

Supreme [H]ardness
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ohh i see
damn dwolla won't be transferred until tmr but i still have btc though...
 

sethmo

2[H]4U
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Sweet, spendbitcoins.com is back up.

No its not:

We have no exchange data until Mt Gox is up and running again. Please accept our sincerest apologies if you have made a payment since Sunday, 19 June 2011 at 07:45:00 UTC, we will get to your order as soon as Mt Gox is up again (we cannot login to see what payments have been made until Mt Gox is up).

I want to get an Amazon gift card too!
 

sethmo

2[H]4U
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They should just switch to Tradehill permanantly ... unless MTGox's exchange overinflates to $30 again :)
 

Lorien

Supreme [H]ardness
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4 hour block of doom at Slush's, forced me to poolhop to BTC Guild :/
 

DooKey

[H]F Junkie
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Disclaimer: I did complain about Bitcoin being in the DC subforum. I have no problem with BC, but just didn't like it in this subforum. Since it is still in here then I have to post this here. End of disclaimer.

Just got a MSI Twin Frozr 5850 (open box) off of Newegg for $150......nice deal for mining if you ask me.
 

Chihlidog

[H]ard|Gawd
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Disclaimer: I did complain about Bitcoin being in the DC subforum. I have no problem with BC, but just didn't like it in this subforum. Since it is still in here then I have to post this here. End of disclaimer.

Just got a MSI Twin Frozr 5850 (open box) off of Newegg for $150......nice deal for mining if you ask me.

Ouch. Wish I woulda seen that deal. Before I decided to start mining I wanted a 2nd 5850 to crossfire anyway. Great find.
 

TheGeekFreek

Supreme [H]ardness
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With the difficulty increases its gettin pretty rediculous as to what hardware you need to churn out 1BC per day..

2x 6950's @ 350 MHash/s
2x 5830's @ 278 MHash/s
1x 4870 @ 91 MHash/s
On deepbit, earning about .87 BTC a day since todays increase..

Im going to cut the 4870 since it doesnt even ear what it pulls for power.. im probably gonna mine thru the end of next month, sell most of my equipment, and sit on about 10 coins and just see what kind of price they develope.. Its not worth all the hardware you need to keep up with the increases, youd be better off just day trading coins..
 

Zink

Gawd
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With the difficulty increases its gettin pretty rediculous as to what hardware you need to churn out 1BC per day..

2x 6950's @ 350 MHash/s
2x 5830's @ 278 MHash/s
1x 4870 @ 91 MHash/s
On deepbit, earning about .87 BTC a day since todays increase..

Im going to cut the 4870 since it doesnt even ear what it pulls for power.. im probably gonna mine thru the end of next month, sell most of my equipment, and sit on about 10 coins and just see what kind of price they develope.. Its not worth all the hardware you need to keep up with the increases, youd be better off just day trading coins..
At this point unless the price increases there isn't a huge amount of money to be made. If you enjoy it though it is still worth it. A 5830 get $3 a day or some such and that is enough to cover electricity and make sure you aren't losing money if you end up having to sell hardware.
 

Lorien

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There's just too many factors. Difficulty is only guaranteed to change, that means it can increase or decrease depending on how fast the network chews through the 2016 blocks used to calculate the next difficulty. We also have no way to predict how many people will continue to mine from one period to another.

The (re)sale value of hardware will be governed by how cheap electricity is. For example, that 4870 might be unprofitable to run in a place where you pay $.15 per kilowatt, but profitable for someone paying only $.08 per kilowatt. Here's a calculator that attempts to model earnings per month, making the assumption that difficulty will keep increasing at the same rate it has for the past few months (45%). http://striketeam.ath.cx/btccalc/btccalc.php

P.S: You would, of course, have to subtract energy costs from those earnings.
 
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wol-va-rine

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Disclaimer: I did complain about Bitcoin being in the DC subforum. I have no problem with BC, but just didn't like it in this subforum. Since it is still in here then I have to post this here. End of disclaimer.

Just got a MSI Twin Frozr 5850 (open box) off of Newegg for $150......nice deal for mining if you ask me.

you didn't just complain about bitcoins, you insulted and talked down to every single person on this message board that mines bitcoins, in your opinion the bitcoin miners "taint" "your" subforum because we care nothing about anything else except making money for ourselves...

wow, just...wow...
 

DooKey

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you didn't just complain about bitcoins, you insulted and talked down to every single person on this message board that mines bitcoins, in your opinion the bitcoin miners "taint" "your" subforum because we care nothing about anything else except making money for ourselves...

wow, just...wow...

Yes I did complain about BC in this subforum and admitted as such. Not BC itself. Go back and read what I said to you....
 

Stiletto

Supreme [H]ardness
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Yes I did complain about BC in this subforum and admitted as such. Not BC itself. Go back and read what I said to you....

And you complained about it for the most mindless of reasons: claiming that the distributed computing subforum is only for those NOT using DC for self-interest.

Well, guess what? Your snotty, sneering, condescending attitude is due entirely to the fact that you consider yourself noble or special or somehow a benefactor because you fold. You like feeling that you're special, and that somehow you're better than others. That's your own self-interest. Some of us aren't looking for inflated self-worth. Some of us are trying to make it easier to put food on the table. You spit on and look down on those who have that self-interest, but apparently you have no mirrors in your house to see your own self-interest.

And let me tell you this: if your whole reason for folding is so you can be an egotistical narcissist, then your self-interest is a hell of a lot less noble than those who are making some extra money by taking part in an experiment to give people an alternative currency in which to put their wealth.

Get off your pedestal before it collapses, pal. :cool:
 

Kardonxt

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I enjoy folding too and always liked the [H] community even tho I fold for another team. but that thread did really rub me the wrong way.

Folders have yet to cure any diseases or make anyones life better. If you're such an awesome bunch of people why dont you mine bitcoins, sell them, and buy food for starving children or something?

You enjoy folding. It's a fun community, but dont pretend you've actually helped anyone.

Come back when you cure cancer and ill admit you guys are just the cats meow.
 

Lorien

Supreme [H]ardness
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Where do you see that? I see this:
He spelled differently trying to be clever... And he probably got that "info" from the thread some fucktard troll wanting attention posted on the forums.

That's 16 minutes from now.

No, trading will resume 1 hour and 7 minutes from now.
 

Lorien

Supreme [H]ardness
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Yeah but the actual Mt. Gox site comes online an hour before trading resumes.

Payouts and withdrawals are not instantaneous. Cash will have to wait 'til Monday when banks open and coins have to wait depending on how many coins are being moved. It's the same thing as when you withdraw coins from your mining pool, the transaction has to be confirmed by miners and that takes time (the more coins involved the longer it takes, unless you pay fees)
 

Stiletto

Supreme [H]ardness
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The domain no longer leads to the topic, but it's still going to the support area.
 

Lorien

Supreme [H]ardness
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Another 13 hour delay.

We have found that balances on some older accounts look significantly incorrect when compared with the old database. At this time we do not know what caused the balances to be off, or how many of the older accounts are affected. We haven't touched the old backend or database, so we're going to import the accounts again once we have found what caused the off-balances.

No money is lost, we still have the records of all transactions that happened prior to the bitcoin sell-off. All funds deposited are still in our bank accounts, and we're going to try and get this resolved by 15:00 GMT.

We look forward to getting everyone trading within an hour of getting users logged in and accessing their accounts.
 

wol-va-rine

2[H]4U
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Let's not start this drama again...

we never started any of the "drama", we tried to discuss bitcoins and the folders started with the insults and condescending attitudes in EVERY THREAD...

I enjoy folding too and always liked the [H] community even tho I fold for another team. but that thread did really rub me the wrong way.

Folders have yet to cure any diseases or make anyones life better. If you're such an awesome bunch of people why dont you mine bitcoins, sell them, and buy food for starving children or something?

You enjoy folding. It's a fun community, but dont pretend you've actually helped anyone.

Come back when you cure cancer and ill admit you guys are just the cats meow.

thank you, and when they do cure cancer (let's all hope to God it does happen, and soon) I find it very naive that they think that no one will profit from the work they put into it...

it's absolutely hilarious that they complain about bitcoins and want it moved from the forum in which it belongs, yet they have started half of the recent threads about it, not only that, but a good number of posts in each thread are by folders trying to get their jabs in when they can with their insults and condescending attitudes, to the point where they threaten to not post anymore in "their" subforum (sense of entitlement...? check) until bitcoin discussions are moved, no one is making them read (or start) these threads about a topic that they don't like or aren't interested in, yet they just can't help themselves for some reason, it just makes no sense...

rule #13 "POST to the forum that is most appropriate for the topic being presented. Threads incorrectly placed will be moved or locked", all bitcoin threads have been in the DC subforum, which does not stipulate that DC discussion must be limited to non profit DC projects, if I missed something and there actually is something that states this (aside from personal opinion) please link it, because I haven't seen it, moving it to a paid subscription subforum is the most ridiculous suggestion that I've heard...
 
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wol-va-rine

2[H]4U
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Yes I did complain about BC in this subforum and admitted as such. Not BC itself. Go back and read what I said to you....

so basically you were complaining about us and not bitcoin itself...? um, we got that, it wasn't that hard to figure out and actually makes it more insulting and judgmental on a personal level...

maybe you should go back and read your own posts again...
 

Parja

[H]F Junkie
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Guys, enough. There's nothing to be gained by pepetuating this bitchfest.

DooKey, please do us all a favor and not respond to any of this.
 
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