my point exactly,
a bunch of chavs are putting their money in casino like currencies and think they have an edge for making money
my point exactly,
a bunch of chavs are putting their money in casino like currencies and think they have an edge for making money
I have spoke before about DeCRed and that I think it is a solid crypto with a real future
this week I decided to make a very long and potentially lucrative bet on the currency and pre order an ASIC - a specialised computer that only does 1 type of calculation - in this case Proof of Work mathematical calculation on the Blake256 algo to mine DCR
the price for the machine is 2500 USD and is expected to be delivered in june next year and I will then pay 30 USD a month to have it co-located ( colo ) in a server farm with internet and power where I can log ito the machine remotely and configure it to pay the mined DCR to my wallet address
if you used its projected hashing power ( speed of its mathematical calculation power ) and the current price or DCR ( about 30 USD ) it would make 500 USD a day
but the reality is that with a large amount of hash power from all the other ASICs also entering the PoW computational process and the difficulty being adjusted for that it will likely be 5-10x less
even that is ok as the return on investment will be 50 days - maybe
that is at the current price of DCR
here is the AMA ( ask me anything ) on reddit with the group who says it will produce the unit - https://www.reddit.com/r/decred/comm...nything_about/
and website to order the unit - https://obelisk.tech/index.html
there is a chance they may fail , but as I said it is a bet which I am prepared to take
Does th 30 usd include the electic cost?
Where physically will the machine be located, do you have a choice? Does the "coin" 6creation require constant internet connection?
Last edited by OhOh; 19-11-2017 at 12:52 PM.
These all sound like pyramid schemes with the value dependent on logarithmic increase in demand. Once all the suckers are in demand drops and you know the rest.
you could host it in your own home if you wished , and yes you need a broadband connection for downloading the blockchain data so that each new block can be mathematically mined
colocation places at the moment are here - https://obelisk.tech/colocation.html - I will make a choice later as more places are added and the unit is ready to be shipped
many articles on the internet explaining what exactly is PoW mining - http://www.blockchaintechnologies.com/blockchain-mining
Once finacial lords open the futures market and the sheeple realise there is no restriction in creating more and more virtual marketed as gold "coins" there will be a mother of shake downs.
But some have made unbelievable profits. From 0.001USD TO 8-10,000 USD. Allegedly somebody bought a pizza for 10,000!!!
A tray full of GOLD is not worth a moment in time.
3 posts in a row buttplug , with nothing of substance
do have to wonder how you manage to talk out your arse so much with the amount of ladyboy penis that goes in
and thus you explain to everyone your lack of understanding of the subject - cryptoassets are designed to be regulation resistant
the only way to regulate it is to switch your country back to pre-1960 technology
the countries that introduce regulations that encourage cryptoassets and blockchain technologies will be the ones that win
Singapore is moving in that direction ,- https://cointelegraph.com/news/singa...-official-says
but my hope is Mauritius will go the same path - Mauritius Plans to Create an Ethereum Island - NEWSBTC
Singapre has one of the worst records on compliance, the place is full of dodgy deals and money laundering, while claiming to be squeezy clean
think Switzerland hypocrisy x 100
oh that's a great example then that we should all follow
I understand you are a plumber and a chav and hope to strike it rich with that tech, however if you actually read real business news, you would learn that Central Banks are preparing a major attack on that technology, the only question is the timing. In the meantime you keep dreaming in your bubble and think you have it all figure it out while ignoring the real world and how is regulated.
didn;t read the whole thread but did read a good book this week
the origin of Bitcoin "Digital Gold", by Nathaniel Popper. Available at libgen.io
There is a documentary "Banking on Bitcoin" that is a good companion piece to the book "Digital Gold". It covers the same subject and shows many of the main characters featured in the book.
Since Dragonfly has intimate knowledge of how things work, got it right on the death of bitcoin, is certain that Brits will be fighting over rats and roaches in a couple of years, routinely turns hundreds into millions yet continues to protest against this insane get rich scheme that's guaranteed to end in tears, must say it's beginning to look attractive.
^ Just because he is right about Brexit doesn't necessarily mean that he is always right.
I could be wrong for Bitcoin, but it definitely has the signature of a bubble, and have seen quite a few
when you have plumbers like baldrick putting 2500 on a silly machine and overpaying a colo to put his server, you know it smells like gold fever and bull shit
there is no fundamentals justification for the bitcoins,
imagine manufacturing your own currency and claiming it's worth 1,000 USD for 1 unit of it, just because a ton of idiots are behind it, it doesn't mean the actual value is 1,000 USD
BTC just passed $8000.
This time next year 8k will seem cheap.
John McAfee is predicting $500k in three years.
He might be eccentric, but he ain't stupid.
John McAfee Bets Bitcoin Will 'Move Above $500K Within 3 Years' - Bitcoinist.com
BTW I'm fixing to launch a Mr Earl coin, to crowdfund fund a reforestation project.
dividends will be bamboo fly rods and bamboo bicycles.
The l price of bitcoin is a small issue in the big picture. In about 5 years we will all be using some form of crypto as a matter of course. Economic activity will be further separated from the state and banking system. It will be a boon for the unbanked and down trodden masses in the 3rd world, more of them have mobile phones and internet than Bank accounts, it is going to be truly liberating for them. This is real democratisation and will bring with it a lot of prosperity
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