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Showing 10 of 10 results by diamondsea
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Topic
Board Altcoin Discussion
Re: Ripple Giveaway!
by
diamondsea
on 03/07/2013, 19:40:47 UTC
r3JUjrBcpeWZF5cAQvYXZFAdCpNWUQ5iMY
Post
Topic
Board Beginners & Help
Re: Bitcoin Businesses and Developers, Let's Get Started!
by
diamondsea
on 24/04/2013, 03:05:54 UTC
Developer looking to work with clients to accept bitcoins
Post
Topic
Board Beginners & Help
Re: What is best security method for MtGox? YubiKey or Software Authenticator?
by
diamondsea
on 24/04/2013, 02:28:24 UTC
If you have a smartphone download the Google Authenticator app.

+1.  It's way easier than carrying around one of those fob things!
Post
Topic
Board Beginners & Help
Re: Say goodbye for newbies
by
diamondsea
on 24/04/2013, 02:26:25 UTC
I just wish that instead of only reading this past week I'd actually had the brains to sign up first...didn't know of these newbie restrictions from reading in the main forum area :/

LOL..  Me too.  I've spend way more than 4 hours reading on here... I just hadn't created the account yet. 
Post
Topic
Board Beginners & Help
Re: when to buy, NOW
by
diamondsea
on 24/04/2013, 02:24:09 UTC
I don't think that it's obvious that now is the time to buy

There's a big wave of publicity and interest

However, at the same time, there are a ton of people waiting in line to get *massive* mining rigs using ASICs

This will mean a ton of new coins will be generated, and presumably a proportion of those will be sold, putting pressure on prices

So it's really very unclear. What is clear though, is that it's likely to be very volatile.

Personally, I'm happy to be invested, but not more than I'm willing to lose.

BTC are generated at a (mostly) fixed rate, with the mining difficulty increasing or decreasing depending on the total mining power devoted to mining at the time.

The ASICs aren't going to mean that more coins are going to be generated, it means that the people with ASICs will get a larger percentage of the coins that are generated, because they will be doing a much higher number of the calculations required to mine a coin.

Post
Topic
Board Beginners & Help
Re: when to buy, NOW
by
diamondsea
on 24/04/2013, 02:20:08 UTC
Here's the thing: you shouldn't see Bitcoin as a way to make dollars. You should see Bitcoin as a way to DESTROY the dollar.

I'm pretty sure many people are looking at it both ways, ironically enough ;-)
Post
Topic
Board Beginners & Help
Re: Free .01 BTC
by
diamondsea
on 24/04/2013, 02:15:57 UTC
I'll take 10.5, as indicated by the long space between 10 and 11 in your last post ;-)
Post
Topic
Board Beginners & Help
Re: Is it still profitable to build a mining/gaming rig at this time?
by
diamondsea
on 24/04/2013, 02:12:54 UTC
I've been looking at it and it looks like BTC mining averages out to roughly 100MH/sec per $100-$150 spent.  It's not a bad investment until the ASICs hit the market and crush the GPU miners.

Litecoin mining seems to be about the same, 100KH/sec per $100-$150 spent.  It's not a bad investment until the ASICs hit the BTC market and all the GPU miners switch over to Litecoin mining and skyrocket the difficulty.

Both seem to have about a 3 month payoff period and its profit after that. 

So, basically your betting whether the ASICs will hit big time in the next three months or not.

If you think they will, you're better off just buying coins.

If you think they won't, go for mining.

If you're going to actually use the computer for gaming and mine during your non-gaming hours, then the mining is basically free and you should go for it.

Hope this helps!

 - Brian

Post
Topic
Board Beginners & Help
Re: BTC/sec rather than Hash/sec?
by
diamondsea
on 24/04/2013, 01:22:17 UTC
Well, it would be a very rough guesstimate as to BTC/hr, as it depends on luck, the size of your pool (or if you're solo mining, even more luck).

But it shouldn't be hard to implement, I'd think.
Post
Topic
Board Beginners & Help
Re: Introduce yourself :)
by
diamondsea
on 24/04/2013, 01:20:47 UTC
I've been following bitcoin for a couple years now.  Kicking myself I didn't buy a few thousand of them when they were in the cents range!