Yes, you misunderstood.  What I am suggesting is that Treasury and the Fed realize the USD is doomed if the status quo continues.  So, they reached out to the crypto-minds over at the NSA to serruptitiously release XBT in 2009.  The objective being to blow up the status quo and REPLACE it with XBT. 

As the price of XBT rises and gains acceptance, the masses will voluntarily exchange their trillions of USD and other fiat for XBT.  The end game would be XBT as the global, anti-hegemonic, deflationary standard currency with the USD being the sole surviving fiat along with it;  AND minus the over-supply of USD which exists today.

Lighten up.  This is a CONSPIRACY thread.

That means any marginally plausible posts are to be expected.  Sheesh, some of you actually believe posters are truly pushing substantive ideas.  [We're not, btw]

-----------

Now, as I was saying:  The "satoshi" name was a brilliant misdirection which some appear to be falling for wholesale.  Same goes for the other misdirections.

Why would Treasury or the Fed do it?  Because there is no other way to pull all those trillions out of the system without blowing up the global economy.  The dollar (and all fiat) boat has been sinking since 1913 when a dollar was actually a dollar.  Today's dollar will buy what $.03 would have bought in 1913.  This is not new news; and there are plenty of smart people who have known for quite some time that propping up the global economy by printing (globally) $100-200 billion per month is unsustainable. 

Creating an entirely new government-neutral currency is a brilliant way out for any country wanting a way out of the fiat farce.  It's actually the USD that will benefit most (or is adversely affected the least) because as the current dominant reserve currency, when all the others go tits up, people will still be converting BTC to/from the USD.

The Department of Defense has DARPA.  The CIA has multiple Black Ops.  It is not impossible that those at the Fed, Treasury, or CIA had the foresight to have created their own DARPA equivalent plans and responses, then seeded those responses as a response to the ongoing crisis.  Low and behold one of them actually took root and now we are where we are with it.

Satoshi is thought to have mined almost 1 million BTC?  Really, now...what real life person or group of people would have the discipline to resist so much temptation?  Sure, it could be those early coins were tossed away on a HDD, but I give such a genius or geniuses more credit than that.  Well, people are watching those coins now.  Perhaps someday, all will be made known.

As per my previous post, Treasury has more to gain than any other person or entity.  Follow the money...

Nice thread, but I think the OP and others are looking at the situation from the wrong end of the microscope.

My conspiracy theory is that perhaps the Fed is behind crypto-currencies.  Think about it.  They've expanded the balance sheet by well over $14 Trillion since the housing collapse and have run out of tools to use.  They have been relying on *poof* money creation to keep the system afloat.  That is unsustainable and there is no "out" to rein in all that liquidity.

Unless one simply created another currency and converted a huge chunk of to that new currency.  Well, lookie thar!  A new currency with a mysterious origin just *poofs* onto the scene right after a new administration takes over and sees that things are a complete and utter non-fixable mess.  So, they maintain the status quo until the new currency gets some good footing, but without outright endorsing it lest it draw attention.  "A love fest" was how the congressional hearings were described, wasn't it?  Not to mention the strategic value a totally new currency might have in curtailing the growing influence of China - our biggest banker.

I could go on for pages, but I'll stop well short.  Just think about it:  The Fed and Treasury actually behind BTC.  Oh, the possibilities boggle the mind!

Also worth considering:  BTC can be denominated down to 8 decimal places.  Isn't a Satoshi = 100 millionth?  So if one were to take our national debt and do the math, then it does seem plausible that a BTC should be at least $100,000 USD.  That would be a more supportable arguement for such an obscene(?) valuation.

Yes, the mind gets boggled with the possibilities...

I am getting 17.5 Khs mining LTC with cudaminer.

Save your cudaminer files to C:\CudaMiner and then feel free to use my DOS script as-is. 

C:\Windows\System32\cmd.exe /c start "Batshit.GPU" /BELOWNORMAL C:\CudaMiner\cudaminer.exe -a scrypt -o stratum+tcp://global.wemineltc.com:3334 -u Batshit.GPU -p p4ssword -C 2 -i 0

Who knows?  Someday, 1 LTC might be worth $100,000 or more and all this mining "at a loss" will have been worth it.  Gotta think beyond the now.  My home office server is up 24/7/365 anyway, so wth, right?  I am also running minerd.exe and getting 52 Khs from my CPU (16 threads).  So, a whopping (ha!) ~70 Khs total!!! 

Update:  My funds ($9,900) were made available to me today and I was able to purchase LTC (albeit at a much higher price than days ago).  Per their terms, customers must allow 1 day for them to receive the wire and 3-7 days to credit the funds to their BTC-e account.  Today was that final day, so BTC-e has performed within their stated terms.

Cheers all!

Ticket #RGX-537-46104

Wire sent - No funds in my account
Created: 27 November 2013 06:26 PM    Updated: 27 November 2013 06:26 PM

I sent two wires of USD $5,000.00 each on Friday (see attached confirmations). The funds are not showing in my account. LTC was $8 when I sent and now it is $26. So far, I have lost out on $20,000+ profits.

EDIT: LTC is now $45.  I have lost out on $43,000 profits...

When will my funds be made available?

Oh, we'll lookie lookie.  It seems I might be correct except the exchange was Bitstamp.

http://m.washingtonpost.com/blogs/the-switch/wp/2013/11/23/heres-who-probably-did-that-massive-150000000-bitcoin-transaction/

So, I'm speculating Bitstamp did not have the cash and so reached out to other exchanges for an assist.  I doubt a real bank would take BTC as collateral for a bridge loan that size.  Of course, the article posits that the transaction was just a consolidation.  That doesn't make sense, though.  The tag associated with it was "Shitload of money!".  I doubt any exchange would include something like that.  Sounds like someone cashed out and now all deposits and withdrawals are jammed up until those BTC are liquidated.

Perhaps it is a good thing for those wanting to buy.  Price should decline significantly.

I am going to do some commonsensical deductive reasoning.  I may not know wth I am talking about, but indulge me for a sec:

A few days ago, that 194,993 BTC transaction worth $147m was processed.  At the time, I doubt any exchange had the cash on-hand to fill it.  So, BTC-e (?) hoarded cash inflows, filled the sell order, and now they are liquidating those BTC to repay whatever bridge loan they may have also required and to fund the back-log of deposits.

If I am correct (or close), then BTC should take a rather dramatic dip over the coming days. 

http://www.coindesk.com/194993-btc-transaction-147m-mystery-and-speculation/

Oтвeт oт coбcтвeнникa здecь oбъяcняя, кaкиe ecть пpoблeмы, чтo былo бы пoлeзнo.

Crap!  I just sent two wires of $5k each on Friday.  I wish I would have read about the problems here first.  Most news articles suggested they were reputable and established.  The USD price is more favorable, too.

That was a test wire (although I wish I'd have sent just one rather than two) and I've got more money primed to go; but perhaps I will use another exchange if my funds don't show by Monday.

A response from the proprietor (OP) here explaining what the problems are sure would be helpful.  I can live with the withdraw hold after I buy coin, but the taking so long to deposit is killing me.  Prices just keep going up dramatically!

I sent a PM to the All Father himself (cbuchner1) and humbly await his indulgence.   

Yup.  Each has it's own worker and I have tested one at a time, too.

I could not find that log file in that location, so I suppose that means it really isn't running at all.  Perhaps it is due to my GPU not being recognized by cudaminer?  GeForce GT 610

Other ideas?

Batshit.CPU is showing as hashing.

Batshit.GPU is still 0 after @20+ minutes.

How to access the log file you mentioned?

BTW, I am running without the proxy now.  Hurray.  I also figured out how to launch the miner and automagically set the priority.  So, I put it in a .bat file and it runs on startup.  That way, it's always running in the background and doesn't get in the way of my machine's real workload which does tend to be intense sometimes (during backups and activities I do for work, for examples).  I have the CPU (minerd.exe) running at low priority and the GPU (cudaminer.exe) [if it ever decides to start working] running at below normal priority so they don't bump.

Here's the command line:

C:\Windows\System32\cmd.exe /c start "WhateverWindowTitleNameYouWant" /LOW C:\CPUMiner\minerd.exe -a scrypt -o stratum+tcp://us3.wemineltc.com:3333 -u workernamehere -p p4ssword

or, one could simply copy and paste the info below as-is (ahem).  Works like a charm!  

C:\Windows\System32\cmd.exe /c start "Batshit.CPU" /LOW C:\CPUMiner\minerd.exe -a scrypt -o stratum+tcp://us3.wemineltc.com:3333 -u Batshit.CPU -p p4ssword

MOD:  Please add to a sticky.  It took me awhile to figure this out and others may find it useful.

Also tried using

cudaminer.exe -a scrypt -o stratum+tcp://us3.wemineltc.com:3333 -u Batshit.GPU -p p4ssword

Still no joy.   

I tried without the proxy with same results as in screen shot.  Command line I used was:

cudaminer.exe -a scrypt -u Batshit.GPU -p p4ssword

I have since installed cpuminer and it is cranking along just fine at an awesome 54 khs/s.  It's an always-on and underutilized home business server, so meh...whatever.   

I really want to get the GPU hashing to maximize my losses.   

Nooob Alert!

The Stratum proxy seems to be running, but cudaminer is not doing anything after it launches.  What am I doing wrong (see screen shots)? 

Windows 8 Enterprise x64
nVidia GT 610

I allowed cudaminer through the firewall when prompted by Windows 8.

http://i976.photobucket.com/albums/ae244/Teknowrat/Capture_zpsd061cc1a.jpg

We'll see a leveling at ~1.2-1.5 B difficulty around Dec/Jan according to my calculations.  Call me crazy, then check this post Jan/Feb against the charts.

My calculations project leveling at ~1.2-1.5 B difficulty sometime Dec/Jan.  It will flatten until the ASIC gen2s hit the market mid-2014, but the impact of those will be incremental, not dramatic as we have seen when the technology has lept from CPU to GPU to FGPA to ASIC. 

Call me crazy now, but mark this post and call me a prophet in Jan/Feb when the leveling is proven.

Well, the MISTAKE miners are making is they are calculating break-even using current or near-term BTC prices.  5-10-20 years from now, assuming mass acceptance, a BTC might be worth several orders of magnitude more than it is today.  So, taking that perspective, BTC .00001 tomorrow might be worth the same as BTC 1 today.  It is a risk, for sure.  It is a stretch, for sure.  It means mining at "losses" today, for sure.   But years from now, continuing to mine at a loss today will be seen as having been a brilliant move when BTC .0001 pays for your grandchild's university education.

Just something to think about.

On another note, I do think eventually BTC mining will be essentially centralized as the cost of machines required for big BTC mining (I'm suggesting 1+ BTC per day will qualify as big mining) continues to increase in power and price.  Then, as per design, "old technology" miners will profit from transaction fees, instead.

Just my 2 satoshi...

Referencing historical charts is folly. 

The charts represent disruptive leaps from CPU to GPU to FPGA to ASIC technologies.  ASIC is the pinnacle.  Charts from the ASIC period onward will be relevant, but right now the charts show horse and buggy, Model T's, '57 Chevy, and 2013 supercars. 

Wake me when it shows just supercars.