BITCON... WHY its totally FLAWED

RetardedMonkey said:
Dynoman said:
So I was thinking if you invested 1 million for a crypto mining company how seriously you could shake the system. In Aus it would be perfect, run everything in the desert via satellite & solar power.
Click to expand...
If you could independently (and fairly rapidly) develop and deploy ASIC miners, you could bring a lot of things to a stand still in cryptocoin world.
Click to expand...

I know Avalon, not sure if BF is anything more than a scam? If this proves to be true then it will leave a really nasty taint in the crypto mining world.

658_capture.jpg
 
Dynoman said:
I know Avalon, not sure if BF is anything more than a scam? If this proves to be true then it will leave a really nasty taint in the crypto mining world.
Click to expand...
Yeah, Avalon has shipped a 'few' rigs - nothing of note though.

BFL is just a joke. They've taken in the equivalent of millions and millions of dollars worth of BTC and haven't shipped a single unit yet.
 
RetardedMonkey said:
Dynoman said:
I know Avalon, not sure if BF is anything more than a scam? If this proves to be true then it will leave a really nasty taint in the crypto mining world.
Click to expand...
Yeah, Avalon has shipped a 'few' rigs - nothing of note though.

BFL is just a joke. They've taken in the equivalent of millions and millions of dollars worth of BTC and haven't shipped a single unit yet.
Click to expand...

From my investigating scaleable FPGA systems seems like the way to go. You can budget on around $100 per 100Mhash/s for the hardware which is comparable to V/Cards. But then the power consumption is much lower
 
RetardedMonkey said:
PS. Bitcoin @ $58

Still got some AUD in your Mt.Gox account, Prospector? haha
Click to expand...

Hahaha I'm going put a BTC buy with the few g's I have left in Gox in the $30 range somewhere I think.

Another member's buy hit this morning which filled my last spot sorry!

I'll be back though hahaha!
 
Dynoman said:
From my investigating scaleable FPGA systems seems like the way to go. You can budget on around $100 per 100Mhash/s for the hardware which is comparable to V/Cards. But then the power consumption is much lower
Click to expand...
FPGA are good for that reason.
Trying to get them is hard though. Especially in Australia.
Any sources on that? I'd have a few if I could.

That said, the mining systems I priced up last week were:
PSU: $266
CPU: $40
Mobo: $105
RAM: $29
4x7950: $1156

Total: $1596

Each video card capable of approx. 550Mh/s
So total of 2200Mh/s for $1596

Power consumption is obviously what you'd need to consider. You'd be using approx 1000w-1100w for that machine.
 
pro$pector said:
RetardedMonkey said:
PS. Bitcoin @ $58

Still got some AUD in your Mt.Gox account, Prospector? haha
Click to expand...

Hahaha I'm going put a BTC buy with the few g's I have left in Gox in the $30 range somewhere I think.

Another member's buy hit this morning which filled my last spot sorry!

I'll be back though hahaha!
Click to expand...
That's fine dude, I was thinking of getting money into the system - although takes a while!
 
You can do AUD bank transfers to Mt Gox now I think through their partner "Technocash" or something.

They charge a 3.95% commission though and no idea how long it takes to show up...

I always used to use spendbitcoins.com back when it was $10 - $16 per BTC, always hated the 10% fee but then it started rising so quick I stopped caring. :D
 
it turns up when you become verified.... they use a bankwest account, so if you deposit in person it can clear in your MtGox account the next day
 
I am verified, but can't see it. Hmm.

Also, my bank account is Bankwest.... I might be able to get money in there quicker :D
 
So can you do internet transfers to Technocash?

...or do you have to do cash deposits at branch? (Sorry - I'm being lazy and not looking for myself).

I imagine I'll want to put cash back in to BTC this year, however I have my reservations about how Gox conducts business...so not sure if I want to go back there.
 
pro$pector said:
So can you do internet transfers to Technocash?

...or do you have to do cash deposits at branch? (Sorry - I'm being lazy and not looking for myself).

I imagine I'll want to put cash back in to BTC this year, however I have my reservations about how Gox conducts business...so not sure if I want to go back there.
Click to expand...

Yes, you just do it through netbank, just like any direct deposit. You put your MtGox account number in the reference field.
 
pro$pector said:
I imagine I'll want to put cash back in to BTC this year, however I have my reservations about how Gox conducts business...so not sure if I want to go back there.
Click to expand...

Do you have any exchange in mind at this stage?
The bitcointalk forum have some ideas bubbling up on decentralised exchanges and stuff bit nothing concrete right now.
 
I've been toying with the idea of starting up a pool for either LTC or PPC

There's a few profits to be made there IMO.

People like notroll.in and coinotron.com with their 5% PPS fee would be gaining about 200-300 Litecoin's per hour by my calcs.
 
You must log in or register to reply here.
Back
Top