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Showing 19 of 19 results by avulhop
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Topic
Board Trading Discussion
Re: Building a great Bitcoin exchange, part I: transaction fees
by
avulhop
on 15/04/2013, 14:55:55 UTC
On the topic of fixed fees:

Fixed fees make bots performing micro-transactions untenable. Blending it with a percent fee is easy enough (x%, minimum of y BTC)

That lets you marginalize the impact of bots flooding your engine (GOXXED) by making it much more expensive (and thus, less likely) for manipulators to flood your market.
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Topic
Board Bitcoin Discussion
Re: Episode 4 of The Daily Bitcoin Show for April 11, 2013
by
avulhop
on 12/04/2013, 13:49:21 UTC
I quite like your fledgling show. I have 2 (very) minor tweaks to suggest.

1) There seems to be ~3-4 seconds of silence before the intro. Can you just trim that off?
2) It would be great if this show were somewhere that could be easily subscribed.

Keep up the good work.
Post
Topic
Board Altcoin Discussion
Re: BTC at $220, altcoins crashing. Where are your AltGods now?
by
avulhop
on 11/04/2013, 18:43:48 UTC
I must say the Pride-cometh-before-the-fall here is Epic.

I anticipate that BTC will in the following day or so stabilize at around half its peak value but then follow a gradual decline back into the 30-60 dollar level over a month or two.  In other words we will see a broad replication of the July 2011 bubble and crash, simply from a higher base price.  Now it's still very likely that BTC will in the long term stabilize at a price higher then what it had just before the bubble started in February, but this means that as in all bubbles people who came in late will have lost.

It will be interesting to see what happens to the alt-coins, will they fall in sync with BTC, or will their value be largely dis-connected from it.  LTC logically has potential to be disconnected because of its differing hash, on the other hand it is also closer to BTC in being 'big' (well bigger then the other alts) so it might be effected by broad public perception of crypto-currency.

I'm hopefull that alts can start to emerge out of the shadow of BTC and that their will be a movement away from the mentality that BTC and it's original protocol was some kind of perfect thing handed down by a demi-god.  But rather that the future is going to be a succession of one alt supplanting another in a potentially endless succession (or at the least keeping them from stagnating), the same standard we expect with any other piece of software.

This guy gets it.  As far as the altcoins, it seems like LTC has stayed relatively stable vs. BTC and some of the others have increased.

I don't think any altcoin price will be substantially decoupled from BTC until it has widespread merchant support, which (imo) LTC is the closest to attaining right now.

I don't really consider gambling "Merchant support". X_x

I think that was the point. It might finally break the 0.02 conversion rate if there were more merchants using LTC than a couple gambling sites. BTC has slowly found some adoption, but LTC's utility is nearly non-existent save for some gambling and exchange to BTC.
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Topic
Board Beginners & Help
Re: LTC Mining profitable
by
avulhop
on 11/04/2013, 18:40:22 UTC
my calculation was for LTC, but point taken nonetheless

I know, but he's calculating LTC/USD by going LTC/BTC, BTC/USD.
Post
Topic
Board Beginners & Help
Re: LTC Mining profitable
by
avulhop
on 11/04/2013, 18:29:34 UTC
3 x 7950s = 1800 kh/s which is $584.92 / month according to the table at http://dustcoin.com/mining

seems profitable to me, am I missing something?

Careful... at this very moment, DustCoin is using the Mt. Gox figure for BTC ($123.40), which is frozen since they halted trading. BTC-e has it at $84, Vircurex at around $90.

(still, that's closer to $426.60, which isn't awful)
Post
Topic
Board Beginners & Help
Re: LTC Mining profitable
by
avulhop
on 11/04/2013, 18:12:58 UTC
What's the general forumla for LTC/day as a solo miner?

My naive guess:

Code:
probability = my hashrate/network hashrate
blocksPerDay = (60min/average block time in minutes)*60*24

expectedLTC = probability*blockdPerDay*reward


Plugging in values...

Code:
prob = ~350kh/s / 9,440,200 kh/s
prob = 0.0037%

blocksPerDay = (60/2.5)*60*24
blocksPerDay = 34560

expectedLTC = 0.0037%*34560*50
expectedLTC = 1.281328785*50
expectedLTC = 64.06643927

That doesn't seem right... What am I missing?
Post
Topic
Board Altcoin Discussion
Re: Fastest way of buying Litecoins?
by
avulhop
on 11/04/2013, 14:55:40 UTC
Do you have to buy bitcoins first? or will btc-e allow you to buy litecoins with USD?

You can buy with USD.  No need to convert to BTC first.

Assuming you can get your USD into BTC-e or Vircurex, that is. Neither is as easy as it sounds. BTC-e is notoriously hard to deposit to since half of their USD deposit options are shady russian sites and the others are exchanges that charge an arm and leg or force you to wait 3-4 days on a wire transfer (which costs ~$15). Vircurex only accepts VouchX as a USD deposit option, which is equally difficult to fund.

Your best bet is to buy bitcoins through an exchange like Mt.Gox/BitFloor/BitInstant/CampBx/Bitstamp/etc. and move those BTC to an altcoin exchange.
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Topic
Board Beginners & Help
Re: Mining with multiple cards - understanding question
by
avulhop
on 11/04/2013, 14:00:50 UTC
I was wondering something very similar myself. I have a 7850 in the mail (I mostly intended to game with it and mine on the side while idle), but I saw someone had a used 5870 for sale super cheap on craigslist. I know they don't Crossfire well/at all, but I wondered if they could be run independently if I just plugged it into a spare PCIe slot as a dedicated mining card.
Post
Topic
Board Beginners & Help
Re: BTC-E.com - Not Able to login! WARNING - They are not helping me!
by
avulhop
on 11/04/2013, 13:40:51 UTC
Don't. Leave. Money. In. Exchange. Accounts.
Post
Topic
Board Beginners & Help
Re: Why so much difference in prices between exchanges?
by
avulhop
on 11/04/2013, 13:30:41 UTC
This. The risk vs return on arbitrage right now isn't very good. That's specifically because of order execution time. If everything were as liquid as forex those of us who have traded prior would be making a couple million a day pushing coins across multiple exchanges but its just too slow right now.

To be fair, the risk/reward of simply trading BTC is a big gamble hour-to-hour anyway. If you are approaching this like entertainment/gambling, then it's cool, but I can't stress this enough...

DO NOT TRY TO RETIRE BY INVESTING IN BTC
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Topic
Board Beginners & Help
Re: Why so much difference in prices between exchanges?
by
avulhop
on 11/04/2013, 13:28:29 UTC
The price also reflects on some issues, like how trustworthy the site is (the market is pricing the risk into the exchange) or how difficult it is to get money into the exchange (BTC-e being an obvious example. You can buy BTC cheaper there, but good fucking luck getting your USD into the place).
Post
Topic
Board Beginners & Help
Re: I need some help
by
avulhop
on 11/04/2013, 13:20:26 UTC
2 core attributes of Bitcoin are working against you:

1) Totally irreversible. No chargebacks.
2) Near-totally anonymous. Anonymous enough that you won't know who it was unless they stupidly have the address they used to steal your coins in a sig on a forum somewhere.


tl;dr You're fucked.


This is why we tell people not to keep their money in exchange accounts. Move your coins (most, at least) into your local wallet, encrypt it, and make over 9000 backups.
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Topic
Board Beginners & Help
Re: Desktop sitting at home, what is the best way to make use of it and make money
by
avulhop
on 10/04/2013, 20:31:43 UTC
dustcoin.com/mining
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Topic
Board Beginners & Help
Re: yay 10 mins
by
avulhop
on 10/04/2013, 14:35:13 UTC
Yeah, it's a little burdensome, but it's worthwhile to have a more stable community without a bunch of 1-post spam accounts.
Post
Topic
Board Games and rounds
Re: [ANN] Coin ♥ Love ♥ Chest [FREE BITCOINS]
by
avulhop
on 10/04/2013, 03:52:08 UTC
I love bitcoin because I love the chance of a decentralized, interconnected future of international trade.


1KcfbHMR2HeGCJjvAN9aE17DCWiQ372Uui
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Topic
Board Beginners & Help
Re: ButterFly Labs SCAM OR NOT???
by
avulhop
on 09/04/2013, 20:46:24 UTC
I haven't ordered, so I'm not invested either way, but it smells fishy to me. I don't think they were necessarily an out-and-out scam selling vaporware. Rather, I think someone was overconfident in their tech and their supply chain's ability to provide them with what they needed. Some numbers didn't add up, so the hashrates dropped and the prices increased.

I wish the best of luck to anyone who is still holding out with a preorder throughh BFL. I, personally, wouldn't give them a dime until people have working ASICs in-hand from BFL.
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Topic
Board Micro Earnings
Re: FREE BITCOIN Sites *and* Free Newbie Lotto
by
avulhop
on 09/04/2013, 20:38:23 UTC
1PZUM9ZdRnexC4q9eW3WRWDDQLDBFsVHoc

Please add me! Would love a little BTC to experiment with...
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Topic
Board Beginners & Help
Topic OP
Effective way to fund BTC-e?
by
avulhop
on 09/04/2013, 19:48:51 UTC
I'm modestly interested in trying to trade currency on BTC-e and perhaps take advantage of some arbitrage opportunities every now and then. The tricky part for me is getting my fiat USD into BTC-e. Virtually every avenue of funding an account has people shouting about how they have lost their money or are taking forever.

So, how does one fund a BTC-e account without spending an arm and a leg in fees, waiting a week for it to clear, or having some shady Russian site run off with my cash?
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Topic
Board Beginners & Help
Re: Introduce yourself :)
by
avulhop
on 09/04/2013, 19:44:00 UTC
I'm a dumbass who thought $30 for 1 BTC was a bunch of lunacy back in 2011.

Now I'm looking to set up my HTPC to do some light mining while idle and find a way to get someone to take my fiat currency without charging outlandish fees, taking a week, or absconding with my money.

Advice?