BITCON... WHY its totally FLAWED

MetalMensch said:
gone up 40 bucks in a day....something ain't right. Oh well, Max Keiser seems to have got in at the ground floor I guess he's ok and of course he's praising it to the heavens.
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Unless he got in at like 8/10ths of a cent in early 2010 he didn't get in on the ground floor - the difference between getting in under 1c, and getting in once it went over $1 is massive!

$100 to over $1.5 million in almost exactly 3 years is what BTC could potentially have returned to someone, makes me sick that I didn't buy until last year at $10, yet knew about them from mid 2010.

Seriously can anyone show me anything else that has even come close to those kind of returns in 3 years...ever?

Makes those stocks that 100 bag in a year or two look a bit weak hahaha.
 
Phiber said:
RM, have you got a link to some charts for me to see the buy & Sell orders volume?
You mentioned it a couple of times in a previous post.

Cheers & thanks for sharing your thoughts on the topic. Thanks for 1for1 for starting it too :)
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I'll have to dig up some of the sites I've seen with graphs/charts/market data.

BTC-e.com is the one I have been using as an exchange, it has the order book down the bottom.
 
Eruaran said:
Food for thought...

[youtube]http://www.youtube.com/watch?v=05nsJtWrcQg[/youtube]
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Escrow the transaction i reckon. Still a good point though
 
RetardedMonkey said:
Phiber said:
RM, have you got a link to some charts for me to see the buy & Sell orders volume?
You mentioned it a couple of times in a previous post.

Cheers & thanks for sharing your thoughts on the topic. Thanks for 1for1 for starting it too :)
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I'll have to dig up some of the sites I've seen with graphs/charts/market data.

BTC-e.com is the one I have been using as an exchange, it has the order book down the bottom.
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Thanks mate, i'll have a look at BTC-E

cheers
 
Just started giving mining a try for Litecoin, been running a few hours so far.

At the moment im just using the CPU (I5 2500k @ 4.8) and getting 45 - 48 khash/s also trying the pooled approach.

Next step is to get the capacitor replaced on the motherboard that I managed to knock off somehow which will hopefully allow my graphics card to work again. Got a HD 6870 which are suppose to be quite good for mining apparently.

If all goes well I'll have two mining programs running, 1 cpu and 1 gpu getting good overall speeds.

Have to do the maths and see if its worth the effort then.

Anyone else got a mining setup going?
 
markj113 said:
Just started giving mining a try for Litecoin, been running a few hours so far.

At the moment im just using the CPU (I5 2500k @ 4.8) and getting 45 - 48 khash/s also trying the pooled approach.

Next step is to get the capacitor replaced on the motherboard that I managed to knock off somehow which will hopefully allow my graphics card to work again. Got a HD 6870 which are suppose to be quite good for mining apparently.

If all goes well I'll have two mining programs running, 1 cpu and 1 gpu getting good overall speeds.

Have to do the maths and see if its worth the effort then.

Anyone else got a mining setup going?
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Good on you, never too early to get in even if ascis take over cause you never know what the price may do.

I stopped bitcoin mining when the price was $15 and the difficulty was too high, not the price has made it worth it again.

I'm running 3x 7970's (BTC=2.05Gh/s or LTC=1980Kh/s), 4x 7870's (BTC=1.65Gh/s or LTC=1500Kh/s), 3x 7770's (BTC=0.6Gh/s or LTC=550Kh/s)
Cards/mobo/power all paid for by the coins :)
 
nice setup, im just a very small cog in the big machine at the moment :)

watching the numbers crawl slowly up towards my first litecoin so I can check if my wallet is working ok.

knowing my luck its not and several hours of my life will be wasted as my coin goes missing during the transfer :)
 
Cind3r said:
Good on you, never too early to get in even if ascis take over cause you never know what the price may do.

I stopped bitcoin mining when the price was $15 and the difficulty was too high, not the price has made it worth it again.

I'm running 3x 7970's (BTC=2.05Gh/s or LTC=1980Kh/s), 4x 7870's (BTC=1.65Gh/s or LTC=1500Kh/s), 3x 7770's (BTC=0.6Gh/s or LTC=550Kh/s)
Cards/mobo/power all paid for by the coins :)
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Nice bit of kit.

I can't justify spending that much myself - but I guess if you've got it from the profits, then why not.
 
Anyone know where I can buy ltc or Btc? Via PayPal or au$

I want to invest more but can't get coin in... Annoying

That was a big drop hey.. Shame it's back up again already

1for1
 
1for1 said:
Anyone know where I can buy ltc or Btc? Via PayPal or au$

I want to invest more but can't get coin in... Annoying

That was a big drop hey.. Shame it's back up again already

1for1
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https://www.bitinnovate.com/ is where i got mine go through the stuff on the site then do a cash deposit at the bank and when i got home 2.5 hrs later it was in my wallet then it took 45min to get to btc-e


bahh RM beat me to it
 
1for1 said:
Anyone know where I can buy ltc or Btc? Via PayPal or au$

I want to invest more but can't get coin in... Annoying

That was a big drop hey.. Shame it's back up again already

1for1
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Yep, same thing here.
MtGox is a lengthy process, just for the funds to hit the MtGox account it takes a while.
We have to be patient I think or pay a really high commission :/
 
Bit Innovate.. is that site just mega slow or crashed or overcapacity.. i got to loading the homepage, still loading the buy bitcoin page.. shocking

I guess we do what we have to do..

1for1
 
Probably a lot of everything 1for1.

I've been toying with a few ideas around LtC.

1. Have a buy/sell website in AUS specifically for LtC
2. Create a mining pool node and charge only a 1% fee

I know someone doing the second one and is going well from it. Basically he just runs a mining pool from a dedicated server he has and people use it to mine for LtC. He skims 1% of all mined blocks through it which can be quite substantial if you've got a lot of users.

Anyone has any idea in this area?
 
Bet a heap of drug dealers all over the world are chucking in silk road and trading bit coins instead
 
Allaboutcams said:
ok i spent $1500 on a new miner and im getting 1140k/h not bad for 2 days work
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ltc 1140k/h coins per day 7.486 $4.62336per coin - $ per day- $34.611

Gonna take a while to pay that off.

Unless the price goes up a lot further.

I really want to get into this but don't think I'm comp. SAVVY!? enough :(
 
Okay, copied the below from bitcointalk.org:

MAJOR:

-BTC Bitcoin - first, strongest, most accepted, most mined, high volume market, stable value, a true currency
-LTC Litecoin - second only to BTC , faster than BTC, Small efficiency gap between GPUs and CPUs , ASIC - proof
-NMC Namecoin merged mined with BTC, used for alternative p2p domain system

MINOR:

-PPC PPcoin Proof Of Stake [very innovative, low energy ] , compatibile with BTC miners
-TRC Terracoin based on BTC, fast difficulty adjustment - miner-jump resonance resistant
-DVC Devcoin merged mined with BTC, 90% of generation goes to foundation, 10% to miners
-IXC IxCoin merged mined with BTC, premined 580k coins but still alive
-NVC NovaCoin - scrypt hashing[like LTC] , proof of stake [like PPC] , controversial
-FRC Freicoin back alive. 4.89% anual demurrage. for the first 3 years 80% block subsidy goes to foundation, 20% to miners

NEW:

-Bytecoin- the 1:1 bitcoin copycat. really bad difficulty adjustment for altcoin, extremally high hashrate for that young coin.

DEAD / DYING :

-LQC Liquidcoin made to be very fast at constant difficulty, dead [pool closed, exchange closed]
-SC Solidcoin - dying (10-20% fee), designed to improove IxCoin, hard to be neutral on this one, 1.0 was a premine scam, 2.0 says BTC is pyramid scheme.
-GG Geist Geld experiment on BTC algorithm, how fast can it go? just for sience.
-TBX Tenebrix great idea of cpu-friendly mining with scrypt, but premined with 7.7milion coins - alive but little support due to premining
-FBX Fairbrix - Tenebrix without the premine, bad launch, alive but little support.
-I0C I0coin - ixcoin without the premine. Dead
-CLC Coiledcoin - some nice ideas, but killed in 51% attack
-RUC Rucoin - copy of bitcoin, only difference is that is developed in russian not english. reborn much different, not confirmed if it is the same blockchain, both scrypt[like LTC] and sha256d , nice client !warning! not opensource !
-TimeKoin - PHP webbased coin, alive but not used or traded.
-Beertokens -abitious [impossible?] try to stabilize price against commodity.
-BBQ BBQCoin - killed in 51% attack on launch, now revived and
-MMM MMMcoin - Dead coin by notorious scamer SPMavrodi, named "yes we can" "my mozem mnogoye"

NOT A COIN / NEVER FULLY LAUNCHED:

-DigiCash - historical try for digital curency by David Chaum, failed. http://en.wikipedia.org/wiki/DigiCash
e-cash and e-money are part of / continuation of digicash . Possibly where Bitcoin came from.
Ripples (XRP) - http://ripple.com , no mining - all coins available at start 80% foundation, and 20% develeopers. centralized, not opensource. not designed to be a currency, but an IOU exchange.
Amazon Coin - centralized private scrip launched by Amazon and pegged to USD, not cryptographic at all, just a name.
WEEDS never realy active and now dead - https://bitcointalk.org/index.php?topic=24209.msg300830#msg300830
Groupcoin - still alive but never realy active https://bitcointalk.org/index.php?topic=24813.0
Opencoin - opensource version of digicash, opencoin.org , not launched yet
RealPay 100% coins at start, centralized, never realy launched ,site is dead https://bitcointalk.org/index.php?all=;topic=62565.0
-Qubic - coins are produced at the rate determined by quorum of miners, not set by developers. Never launched.
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