Bitcoins/Litecoins/Virtual Currencies

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Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
I don't see that C&D having any success whatsoever. The currency isn't centralized in California. No one will care. In fact, I hope this draws more attention to Bitcoin in general.
 
Arative

Arative

Ahn'Qiraj Raider
3,063
4,771
These two things do not add up
California's Department of Financial Institutions decided to issue a cease and desist warning to conference organizer Bitcoin Foundation for allegedly engaging in the business of money transmission without a license or proper authorization.
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One activity that the foundation does not engage in is the owning, controlling, or conducting of money transmission business.
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As Alkorin said, I don't expect this C&D to go anywhere. It sounds like those issuing it, really have no idea of what the bitcoin foundation actually does.
 
Arative

Arative

Ahn'Qiraj Raider
3,063
4,771
So I finally got my jalapeno's. There was a shipping snafu, forgot to put the suite number on, so it was a week late in getting to me. Happily hashing away at 22g/hs now. Been almost 24 hours and no issues at all.
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
Nice!

I'm praying that they start getting through orders fast enough that my combined 35 GH/s will actually be worth something when it finally ships. Little Singles are supposed to start shipping next week according to Jody, but that's still just the beginning of the shipments.
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
Little Singles started shipping on Friday. Just for the fun of it, I went and figured out that in order to break even in 3 months after I receive what I've ordered, difficulty needs to stay below ~75 million. Not sure that's gonna happen... oh well.
 
Arative

Arative

Ahn'Qiraj Raider
3,063
4,771
So difficulty jumped to 26.2 milion, price has dropped to in the $80's. I've paid off my jala's already though with what they have mined.
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
Pondering switching to Litecoins with the GPUs at this point. BTC is less and less profitable every day.
 
T

Torrid

Molten Core Raider
926
611
Litecoin mining has been competitive with Bitcoin for a long time now. I'm about 65 coins mined since I got my card 3 months ago, which is $170 at today's price. If I stopped mining right now my card would pay for itself if the price goes back up to $4.5. Although ASICs are hurting GPU mining for litecoins as well with GPU miners switching over, but at least it shouldn't go below the cost of electricity floor. (yay for me and my 0.035 cents per kwh)

Mt. Gox is supposed to add litecoins this month (so they claim) and the official wallet is about to get a big update, so I expect a price jump soon.
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
Where do you guys mine LTC? Tried a multi-mining pool but it was bullshit and kept dropping me.
 
T

Torrid

Molten Core Raider
926
611
I mine at WeMineLTC.com. It's a great pool; low fees, three servers (west coast, east coast, eu), and a slick website.
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
OK, gonna check that out tomorrow. BTC prices are on the upswing today, at least.
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
Switched over to WeMineLTC for now, with a 1% donation. I'm curious to see how well this does for me. Bitcoins aren't the way to go with GPUs anymore, oh well.

Hopefully I'll see my order from BFL before it's absolutely useless, but somehow, I think I screwed myself out of some cash.

Edit: Cranking out just over 2.2 Mhash/s, is this enough to make me any money at all? I'm lacking a frame of reference here.
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
Sigh. Another misguided reporter saying "they are trying to regulate it". The judge is simply saying "no, this has a value, you are a Ponzi scheme fraudster, and you can't hide behind the fact that you were paid in BTC anymore".
 
Alkorin

Chancellor Alkorin

Part-Time Sith
<Granularity Engineer>
6,051
6,036
Was fun while it lasted, but my mining hardware is now off (too expensive to continue at this difficulty), and I've just sent an email to BFL to cancel my order. Hopefully they listen to reason. By the time I actually get the hardware, difficulty will be so inflated that I won't stand a chance of making any money.
 
T

Tea_sl

shitlord
1,019
0
Tea_sl said:
Get a refund. Even if you optimistically received it by December that would would mean 10's of thousands of other ASICs would have have hit the pool and pushed the difficulty so high that the Jalepeno would be spitting out a couple pennies a day.
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Hey.

If they refuse a refund then hopefully you know a lawyer who will draft a quick email telling them to cut it out. Other than that file a complaint with FTC, which is mostly a symbolic gesture. God help BFL though if anyone who cares stumbles on those complaints though because they'll be fucked.
 
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