Cryptocoin Mining?

[taltamir]

Anyway, yes, banking is corrupt, and has been for as long as it's existed. I don't see VC changing that really, because what the gov't wants, it gets.

Yea, VC has already been corrupted. From the innumerable scams, to how its handled by governments. EU has it count as a currency and controlled by their banks, USA treats it as an asset, like gold, and requires obscene amounts of reporting and taxation to avoid being arrested as a tax evader. China had their manipulations and tricks with it, where its basically legal for the upper class only.

This is all only going to get worse

 

[njdevilsfan87]

http://blackcoinpool.com has updated their pool to "V2". The front end is looking very nice. Hopefully their profits adjust overall operation become just as improved.

 

[Elfear]

Asiacoin relaunched too with a fixed wallet to negate the hidden premine the dev threw in there the first go round. The a good number of exchanges have relisted it. Woot, woot!

 

[IEC]

Yep, good to be back in the black on AC.

 

[T_Yamamoto]

Hope prices rise pre dump so I can sell them off.

 

[Attic]

http://seekingalpha.com/article/212...t-so-are-hopes-of-bitcoin-related-investments

What's the floor? $400? Less?

Are all the myriad of weekly pump/dump scam coins harming virtual currency even more?

Anyway, yes, banking is corrupt, and has been for as long as it's existed. I don't see VC changing that really, because what the gov't wants, it gets. And VC can't exist in any meaningful way without being controlled by the gov'ts eventually. All the hopes and dreams won't mean a thing if the feds decide that trading VC without going through their system = a felony. Governments exist solely to create laws, mountains of laws. Once congress decides they want to act, they will, and it will be a messy stupid disgrace like 99% of what they do. I even saw something about them trying to equate Bitcoin with terrorist threats.

As for the common man, I also don't think BitCoin has a prayer's chance of being relevant. Out of 1 million people, 20 thousand might know what the hell it is to any extent. Of those 20 thousand, maybe 1 thousand or less might be competent enough to know how to actually use it. Of those thousand, maybe a hundred might feel confident in putting any substantial part of his banking through it. And of those hundred, they will have a hell of a time using it on a daily basis. Go to Walmart, Starbucks, McDonald's, pay your mortgage, your internet bill, your cell phone bill. How many of those things can you seamlessly do with Bitcoin? None of them. You have to convert the funds to something that the retailer or vendor will accept first. Not exactly seamless. And the value of BTC might be $500 one day, $300 the next.

If a massive catastrophe happens (WW3, the second great global depression, a massive pandemic that kills billions, etc), BTC still won't be relevant, as the supporting systems may not even be operational to even use it. The internet CAN come completely crashing down. What you have then is barter with physical objects. Guns, water, fuel, food, medicine being the most valuable. Then gold, jewels, things that are small and give tangible feeling of value in a future time. Virtual currency? Nah. It would be just as screwed as the virtual dollars we already use, if not more so.

Yea, well said.

 

[frowertr]

^

That is basically how I see it to. When I am forced to explain how LTC works, I get the deer in headlights look from the party I am explaining it to. Joe Plumber will never use BTC (or any crypto for that matter) on a regular basis. It's just too complicated for the average person.

Other than make us some money here and there, I don't see any future in cryptos for long term use.

 

[KingFatty]

Long term adoption rate would increase, if vendors would simply offer a 3% discount when using bitcoin (compared to regular price for credit card or ebay). Once that happens, I think you'll see more people adopt it. But currently there could be a bit of the chicken-and-egg situation where vendors are waiting to see more adoption, but people are waiting for more vendors, and then the government weighs in etc.

 

[dfuze]

^^ problem with that is you're asking businesses to lose 3% on each sale on something they don't necessarily have a vested interest in.

 

[IEC]

^^ problem with that is you're asking businesses to lose 3% on each sale on something they don't necessarily have a vested interest in.

As a merchant I get charged more like 2% to accept credit cards. Depending on payment methods used, I may be losing 2%-3% off the register price in order to accept credit cards.

As a merchant I would gladly use Coinbase. Not only would I not need to hold bitcoins as Coinbase pays in USD, but I would also boost my net profit by several % or more due to Coinbase's lower fees.

That's basically what the poster above is alluding to - the opportunity for lower fees, and thus higher profit margins.

 

[ultimatebob]

^

That is basically how I see it to. When I am forced to explain how LTC works, I get the deer in headlights look from the party I am explaining it to. Joe Plumber will never use BTC (or any crypto for that matter) on a regular basis. It's just too complicated for the average person.

Other than make us some money here and there, I don't see any future in cryptos for long term use.

I'm sure that someone could make a mobile payment system that was simple enough to use... but Apple is already blocking Bitcoin apps. Like the credit card companies, they don't like technology that cuts into their profit margin for transactions.

 

[T_Yamamoto]

I'm sure that someone could make a mobile payment system that was simple enough to use... but Apple is already blocking Bitcoin apps. Like the credit card companies, they don't like technology that cuts into their profit margin for transactions.

At least Google is allowing it. Without them, we would have hit a brick wall.

 

[SimianR]

Looks like Darkcoins price is shooting up. Not sure how high it will go, but I wouldn't be shocked if we see Darkcoin @ $10 eventually. With all the scrypt miners moving their GPU's over to x11 during the summer, I think we're seeing the price adjustment to justify the higher difficulty/cost of mining. Vertcoin got a nice little bump as well but not nearly as dramatic. I'll be keeping an eye on both of them.

 

[blastingcap]

This isn't about mining per se, but I thought some of you might be interested:

http://blog.coinbase.com/post/85758038492/10-of-free-bitcoin-for-college-students

$10 worth of bitcoin to those with value .edu email address, but they don't have a list up yet about which addresses qualify. Apparently alumni @.edu addresses do NOT qualify... they are trying to reach ACTIVE students at major universities only.

 

[Attic]

This isn't about mining per se, but I thought some of you might be interested:

http://blog.coinbase.com/post/85758038492/10-of-free-bitcoin-for-college-students

$10 worth of bitcoin to those with value .edu email address, but they don't have a list up yet about which addresses qualify. Apparently alumni @.edu addresses do NOT qualify... they are trying to reach ACTIVE students at major universities only.

I love the idea, though where MIT nailed it at $100 as a number that will get folks motivated I think coinbase fails at $10.

To sign up and get accounts linked,... IDK, but I'd say $25 minimum to get folks motivated at $50 better. $10 bucks for signing up at coinbase just isn't worth it, even for a cash strapped college kid.

 

[Zardnok]

This isn't about mining per se, but I thought some of you might be interested:

http://blog.coinbase.com/post/85758038492/10-of-free-bitcoin-for-college-students

$10 worth of bitcoin to those with value .edu email address, but they don't have a list up yet about which addresses qualify. Apparently alumni @.edu addresses do NOT qualify... they are trying to reach ACTIVE students at major universities only.

As someone that works in IT for a major university, I wonder how many new e-mail addies I can generate and sign up??

 

[blastingcap]

As someone that works in IT for a major university, I wonder how many new e-mail addies I can generate and sign up??

“We have tried to include the top 500 universities worldwide (this is not US focused) but we can’t guarantee all universities are supported. We may also disable certain universities where we see abuse.”

 

[Z15CAM]

BBS University Sites where a target of mine many years ago.

With a little browsing of BBS University Sites, you could find the Academic Xam sheets that you had to write the next day - LOL

 

[IEC]

Wow. Wish I had started mining DRK earlier! With its impressive rise in price over the past week it's making me profits reminiscent of the "good old days" of just a few months back

 

[T_Yamamoto]

Yay! Free bitcoins!

 

[suklee]

My PSU blew out and may have taken my mobo with it, luckily my C drive (SSD) is still readable so I want to retrieve all my wallet data. Old PC was Win 8.1, thinking of using my MacBook or iMac as the primary "crypto wallet computer"...

Is this how I restore them on the new computer?

- copy and backup all my old wallet.dat files
- install latest wallet client on Mac OS (Bitcoin, Blackcoin, etc.)
- start the wallet client once, and shut down the client
- overwrite wallet.dat files with my backups

 

[wand3r3r]

Yes, that will work. Just keep your originals safe and backed up.

 

[suklee]

Thanks wand3r3r, looks like it's loading all the blocks now in OS X. My boot drive was running out of space, bitcoin-qt detected that on startup and gave me an option to automatically move the data files to another drive, but I needed to do a symlink for Blackcoin.

Gonna take a while to sync up. Maybe it's time to move to another wallet like Multibit?

 

[T_Yamamoto]

Thanks wand3r3r, looks like it's loading all the blocks now in OS X. My boot drive was running out of space, bitcoin-qt detected that on startup and gave me an option to automatically move the data files to another drive, but I needed to do a symlink for Blackcoin.

Gonna take a while to sync up. Maybe it's time to move to another wallet like Multibit?

I use Electrum for BTC.

If theres a light version wallet, I would use that, but the safest is using the official wallet along with the whole blockchain.

 

[Mark R]

I have no idea what I'm doing. I think I'm probably wasting my time.

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