Bitcoin mining 2015 profit sharing18 comments
Fx 797a tdkc litecoin exchange rate
The board requires only 6. For that amount of money, you could buy two ATI s at half the price and crunch four times as many hashes a second.
Oops, I forgot about the new reply system. Can somebody delete my post below? Aye, BitCoins are traceable. More of an interesting technological proof-of-concept that got turned into a pump-and-dump scam.
Closer to dump than pump at the moment, natch. This is a bitcoin. The FPGA is only part of the project. This is a complete board with bitcoin mining software included. Oh, and the software is open source and publicly available, so if you already have a suitable board you can compile and run it on that. Which is to steal stuff. First of all, what are you talking about? No, people are meant to perform this activity. And people have long since started to work out faster ways to do it usually rigs full of gpus.
People that mine are betting that the currency will still have value by the time they offload it. If your GPU does nothing for you like rendering games or movie, etc , it does not consume extra electricity, which is a paid service. Most mining operations end up losing money rather than gaining any, except for cycle-donation pools. That said, automatic speculation on the bitcoin markets is both more profitable at the moment and less computationally intensive.
However, if a pool of these was combined with a cycle-donation pool and an automatic trader it probably would pay for itself eventually which is not true of a single unit. The difficulty to solve a block is periodically adjusted such that, on average, 6 blocks will be generated per hour regardless of the hashing power online. Bitcoins an unsupported currency. Seems to me to be very much like a pyramid sceam. If this operation is legal I think I will start my own and get in on the profit side.
Other currencies not backed by tangible assets: Early investors always make more money if the investment succeeds. By itself that a scam does not make.
To be a scam there must be deceit. Bitcoins are a libertarian social experiment founded on the labor theory of value. The bitcoin market is so small that individual investors can corner substantial portions of the market. When one of these big investors decide to cash out, the bitcoins plummet in value. Also, the fact that the whole point is to be untraceable has caused some amusing problems. So basically bitcoins are a return to the micro-currencies of early America we all know how well those worked for everyone!
Either way, the whole thing is a bizarre microcosm of the history of currency drastically sped up. I think those guys have the right idea because it looks like the best way to make money from bitcoins is to be the one selling the mining hardware. Some computers including a large clearing house were broken into and wallets were stolen. But the system is solid.
I do like the idea of bitcoin though. Remember the credit card companies cutting off donations to wikileaks? Transferring money through banks is subject to the spying of several governments, fees, and taxes. Transporting physical cash is also highly regulated. Bitcoin can be used to escape this control. If I want to exchange my cash, gold, pebbles or shells for information, even digital information, I will do so; I earned it.
None the less, expect the propaganda to flow from the Rothschilds down. No need to mess around with closed blobs. However I think Bitcoin uses a hash of a hash, which seems a bit of an arbitrary choice. It just occurred to me looking at it that attempting to factor that would be an interesting academic challenge but with little or no application outside of Bitcoins. If they can track your wallet usage throug p2p, they can come knock to your door asking you to reveal your wallet.
If you have it encrypted with a password, they will torture you until you spit down the password and say to you that your a possible terrorist that is hidding money with bitcoin. And take away all your hashing gear for financing there own operation and decision made by local police chiefs. You are commenting using your WordPress. You are commenting using your Twitter account. You are commenting using your Facebook account. Notify me of new comments via email.
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They are not guaranteed to be anonymous. People need to realize this. A fraudulent business scheme; fraud n: A deception deliberately practiced in order to secure unfair or unlawful gain. Since when did an expensive commercial product become a hack? What, exactly, do you think is being stolen?
WAT what a troll! This is NOT stealing. Bitcoins were designed to be mined like this. Leave a Reply Cancel reply Enter your comment here Fill in your details below or click an icon to log in: Email required Address never made public.