BITCON... WHY its totally FLAWED

Hahaha I am not sure the SS community / great leader would like that idea - it appears that crypto supporters are looked upon with distain by the general SS populace.
 
Dynoman said:
pro$pector said:
I just love these tiny alt currencies popping up everyday.

Creators/early adopters mine thousands of them in a few days, then the difficulty skyrockets and they sell for thousands of dollars as soon as an exchange accepts them.

Such a great scam.
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I believe Crypto Curriencies are to the Banks what Napster was to the Record Labels. Adapt or perish. All those overdebted, "too big to fail" banks in the good ole will be first to go.
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The market determines what is good money. Crypto-currencies may fill one role of good money in a future market, but we will require physical cash as well. Of course we won't have good money until those "too big to fail" banks have changed their business model.
 
willrocks said:
mmm....shiney! said:
The market determines what is good money. Crypto-currencies may fill one role of good money in a future market, but we will require physical cash as well. Of course we won't have good money until those "too big to fail" banks have changed their business model.
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Do I detect a hint of acceptance?
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Yes, you do.

But for every sceptical reason I have previously raised, it should never replace physical money....entirely.

There, I've compromised. :lol:
 
willrocks said:
Yes. The dial-up sounds still ring in my head.

But Napster was my first taste of P2P file sharing. Any music I wanted was free (even if I did have to wait 3 hours for a song).
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I actually got a dial up contract terminated by my ISP for using 8GB a month once Kazaa / Warez etc came out and I could get TV shows.

5-7kbps nearly all day every day and they said I was causing denial of service to other users in my area or some crap. :lol:
 
willrocks said:
Is it even possible to consume 8GB on dial-up?
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My 56k worst case for P2P was usually 4kbps average speed.

Rounding (i.e. using 1000's instead 1024's etc);

That is 345ish MB per 24 hours x 30 gives you a bit over 10GB.

I didn't doubt their figures... :lol:

(I lived in NZ at the time, was a $10 p/m unlimited plan).
 
willrocks said:
You must've had good quality dedicated line?

In between dropouts and phone calls I doubt I ever downloaded a few hundred meg per month on dial up.
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Yep, dedicated line and auto reconnect.
 
RetardedMonkey said:
We should make a crypto currency for SilverStackers.

Stackercoin?
Silvercoin?
SSCoin? (sounds too much like a boat)
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I like silvercoin now who knows how to use Apache for Java?
 
pro$pector said:
RetardedMonkey said:
Bitcoin dipping slightly, think it went to $98 on BTC-e for a moment.
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Buying strength from $80 - $100 is very deep, be interesting to see how it pans out from here.
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Yeah it hit $100 on Gox I think and shot back up.

If we hit $80 again ive got some money in Gox still to buy.
 
Some huge sellers just came from no-where, which is strange during our daytime hours.

Got that $80 buy ready RM it is well under $100 now!
 
RetardedMonkey said:
Yep.

Had $242 after fees in there, so just placed the buy order at like $80.45 so I use it all up lol.
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I am guessing your order just got filled, it just dipped below $80
 
rbaggio said:
RetardedMonkey said:
Yep.

Had $242 after fees in there, so just placed the buy order at like $80.45 so I use it all up lol.
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I am guessing your order just got filled, it just dipped below $80
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It did indeed and just bounced a little.

Some are saying this dip is due to SilkRoad being offline for the last 24hrs+
 
Holy crap.

MtGox charge 0.6% trading fee?

And then the 3.95% fee to get the money in?

I'll need to get to like $100 from $80 to just break even from this.
 
RM I used bter.com for some crypto-crypto trades, it worked really well (0.1% trade fee).

But no cash involved.
 
rbaggio said:
RM I used bter.com for some crypto-crypto trades, it worked really well (0.1% trade fee).

But no cash involved.
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Yep, i've been using Bter a bit actually - very solid service.
 
RetardedMonkey said:
Well, I got 13,000 FRC for 0.000187 BTC each.
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FRC opened on Vircurex tonight (why I am up so late!).

Sold 4000 FRC @ 0.001 = 4 BTC
And then another 4000 FRC @ 0.0017 = 6.75 BTC

So for my 2.5 BTC investment for 13,000 FRC...
I've made 13.07 BTC from selling only 11,400 FRC...

Massive profit %!!!

I will sleep well tonight.
 
Can't believe this chinacoin thing

I mined it for 36 hours, listed the coins on bter, and sold them for 0.7 BTC

With a 7970, I can't mine 0.7 BTC in 36 days, let alone 36 hours.

Thank you to the creators of chinacoin
 
rbaggio said:
Can't believe this chinacoin thing

I mined it for 36 hours, listed the coins on bter, and sold them for 0.7 BTC

With a 7970, I can't mine 0.7 BTC in 36 days, let alone 36 hours.

Thank you to the creators of chinacoin
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What pool / mining software / settings were you using for that?

Just installed a 7970 and want to do some testing.
 
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