The way it works is the difficulty skyrockets right after the first block, however, the coin initially trades at a reasonable value but over time it becomes worth less and less and collapses entirely.
Update:
Also, I hold the printing plates so i can create an unlimited amount to bail out my FIAT banking buddies further watering down the value of the coins you earned with your hard work but not to worry because if we have a financial crisis we will simply declare a FIAT Coin banking holiday and seize your coin accounts, haircut you!
I'm another country, and we'd like to loan you trillions of your own FCT, interested?
Definitely, but we would need collateral for backing...something along the lines of paper FTC futures perhaps or FTC Bonds. We could offer you -3% returns on 10 year bonds or fake gold from our empty bullion repositories but we would have to pay out FTC if you asked for physical delivery.
Ok, what if we print your money over here, then loan it to you. It will be backed by gold (that hasn't been mined yet) on land we do not own, deal?
Deal but we need a few minutes to reach into our pockets to communicate with the elected officials that govern the land that you don't own so they can change the laws to make their FTC depositors shareholders in their phony banks instead of depositors, that way if we have financial contagion we can do a bail-in to cover our trading losses. Make sense?
Have to sign off now but we'll always have Cyprus...or was it Ireland? It's so hard to keep track these days.
The way it works is the difficulty skyrockets right after the first block, however, the coin initially trades at a reasonable value but over time it becomes worth less and less and collapses entirely.
Update:
Also, I hold the printing plates so i can create an unlimited amount to bail out my FIAT banking buddies further watering down the value of the coins you earned with your hard work but not to worry because if we have a financial crisis we will simply declare a FIAT Coin banking holiday and seize your coin accounts, haircut you!
I'm another country, and we'd like to loan you trillions of your own FCT, interested?
Definitely, but we would need collateral for backing...something along the lines of paper FTC futures perhaps or FTC Bonds. We could offer you -3% returns on 10 year bonds or fake gold from our empty bullion repositories but we would have to pay out FTC if you asked for physical delivery.
Ok, what if we print your money over here, then loan it to you. It will be backed by gold (that hasn't been mined yet) on land we do not own, deal?
Deal but we need a few minutes to reach into our pockets to communicate with the elected officials that govern the land that you don't own so they can change the laws to make their FTC depositors shareholders in their phony banks instead of depositors, that way if we have financial contagion we can do a bail-in to cover our trading losses. Make sense?
The way it works is the difficulty skyrockets right after the first block, however, the coin initially trades at a reasonable value but over time it becomes worth less and less and collapses entirely.
Update:
Also, I hold the printing plates so i can create an unlimited amount to bail out my FIAT banking buddies further watering down the value of the coins you earned with your hard work but not to worry because if we have a financial crisis we will simply declare a FIAT Coin banking holiday and seize your coin accounts, haircut you!
I'm another country, and we'd like to loan you trillions of your own FCT, interested?
Definitely, but we would need collateral for backing...something along the lines of paper FTC futures perhaps or FTC Bonds. We could offer you -3% returns on 10 year bonds or fake gold from our empty bullion repositories but we would have to pay out FTC if you asked for physical delivery.
The way it works is the difficulty skyrockets right after the first block, however, the coin initially trades at a reasonable value but over time it becomes worth less and less and collapses entirely.
Update:
Also, I hold the printing plates so i can create an unlimited amount to bail out my FIAT banking buddies further watering down the value of the coins you earned with your hard work but not to worry because if we have a financial crisis we will simply declare a FIAT Coin banking holiday and seize your coin accounts, haircut you!
Yes, the cost of not investing is something huge to consider.
Yup, first heard of Bitcoin in March of 2013. Invested 10K in hardware, 3K for 129 GIG/h of BFL stuff which we have yet to see and the other 7K i custom built 4 rigs with 8 7970 cards, so far those 4 rigs have mined about $4800 CDN worth of BTC as of Apr-23 plus various ALT coins so we're doing okay but have a ways yet to break even on hardware. The Wife is into it now and she scarfed one of my rigs to mine PPC
Post
Topic
BoardBeginners & Help
Topic OP
Introducing new ALT Coin
by
DeanK
on 24/04/2013, 03:30:14 UTC
FIATCOIN (FCT)
The way it works is the difficulty skyrockets right after the first block, however, the coin initially trades at a reasonable value but over time it becomes worth less and less and collapses entirely.
I am a Malaysian interested in Mining Bitcoin. The problem now i am facing is we do not have strong miners like ASIC. I can pay the electricity and share the cost of the mining rig. You just need to buy and send the rig to me. We share the profit. Please gimme suggestions! Thank you! =)
If you need further identification we can discuss. I am definitely not a scammer and i am serious about bitcoin. Thank you!
Um, ya. So we just buy you a machine and you share the take with us good luck with that.
Hey everyone. I am fairly new to BTC mining and know that I am already far behind the power curve. I am currently running a single 7950 clocked at 1180/420 running stable at 75-76C and pushing ~600MH/s. I am looking to continue further down the road with mining and am trying to get some more hardware, preferably more 7950s or 7970s. My motherboard will support 2 more graphics cards. I am also looking to possibly invest in FPGAs. I know they are outdated thanks to ASICs but I have to start somewhere. Maybe when ASICs are a bit easier to get a hold of I will make that move. Any information or tips or hardware deals are greatly appreciated.
i'm getting a little better than the BFL 4.5 gig unit but i had to build 4 machines with a total of 8 7970 cards so a bit more juice usage you might say and a ton of fan noise plus the Wife scarfed one of the machines to mine PPCoin.