Bitcoin Mining - My new job/hobby

Anything you want to talk that is not fit in other forums. Do not spam. The threads might get deleted if not appropriate

Moderator: justsomeguy

MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

Bitcoin now up to $230.00, and still going up!
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
gone
Junior Member
Posts: 55
Joined: Wed Jul 19, 2006 9:59 am

Post by gone »

@233+ as of this post.
Killswitch
Junior Member
Posts: 439
Joined: Tue Mar 23, 2010 6:12 am

Post by Killswitch »

Has anyone else seen a prediction offered by one of the highest Economic Advisors at the US Treasury that, within the next few years, the Dollar is going
to lose its strength as a global currency because of the ongoing policy we
have to keep printing Dollars as a way to offset the continued fall of the
US Economy in general ? There's so much paper being printed that, the
overall value of the US Dollar has dropped to literally, a few Cents in relationship to all of the other currencies currently in place around the world. The other nite, I watched the State of the Union address by Obama and, many of the Reps were giving Obama a standing ovation for stabilizing the Economy
from the point of when he took office in 2008 and crashed the Economy . Personally, I trust this Advisor over our fearless Leader because Obama is, factually, one of the worst Presidents we've seen since Jimmy Carter. This guy said that we were looking at a 20 year Depression that makes the one we've just gotten past look weak. What happens to this currency when we fold up ?
It'll probably light up the nite and, who knows ? Might be a smart move to pull your money out of the Bank (this is happening in a big way) and drop some cash in that direction, if you've got it. We WILL experience a serious Depression within the next two years. I can feel it creeping forward.
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

Now up to $245.40 and still going up. Who said I was late to the party again? Mmmhhmmmm..... What was that, thought so.

@Killswitch, I believe that to be a fair assumption of the future based on how things have been trending in the past up to the present. The government spends more money to print money than it is actually intrinsically worth to the global economy, this is a very very bad position to be in. It makes perfect sense for the entire world to use a global currency that can be used anywhere and is inherently the same value throughout. There is no downside for people everywhere. The only downside I believe lies on the world bank and the governments corrupted monetary system that in itself is just a bubble waiting to pop. When that day comes and wall st no longer matters the economy is going to take a hit, it all really depends on how hard.

As a footnote; our government doesn't care about the suffering that people go through when it comes to matters of money, the only real reason our government is in control of the money system as a middleman to us is to make money in any way possible at the expense of the people that fuel the government. We are taxed on things more than once, for instance when you purchase a vehicle or a house that has been used before you, the people or person paid the tax on that item already so why is it that when it is sold again it is taxed AGAIN??! There is no real good reason since the tax debt has been paid on that singular item.. That right there has corrupt all over it.. Not to mention the laws originally put in to place, taxation without representation comes to mind. We live in a society where people let the governments do what they want out of fear. The only thing that matters is money to them, a shit less could be given about the welfare of the people as a whole. So I say screw their political nonsense since it is basically just the same horse shit out of a different persons mouth when given a title or position. We sit around and wait for change but all we get is raped again and again, and repeat as necessary... Do what you believe is right and toss out their laws that nobody in their right mind would think about anyways. This was a pretty long ass footnote :D
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
gone
Junior Member
Posts: 55
Joined: Wed Jul 19, 2006 9:59 am

Here’s some frightening honesty, courtesy of the US Congress

Post by gone »

Haven't read the full thing, but here's an excerpt from Resolution # 41 found via

Code: Select all

http://www.sovereignman.com/trends/heres-some-frightening-honesty-courtesy-of-the-us-congress-16051/
Whereas the Federal Government is operating at an annual deficit and is increasing its outstanding debt every year;

Whereas the Federal Government, as of January 2015, is carrying more than $18.0 trillion in debt, of which $13.0 trillion is owed to the public and $5.08 trillion is owed to Social Security and other trust funds;

Whereas foreign governments, individuals, and corporations as of October 2014 own 47 percent of Federal debt held by the public;

Whereas Social Security’s unfunded liabilities in 2014 are $10.6 trillion over 75 years and $24.9 trillion over the infinite horizon;

Whereas the Federal debt held by the public is expected to increase by more than $7 trillion from 2014 to 2024 according to the Congressional Budget Office;

Whereas more than 16 percent of the entire Federal budget goes directly to States and local governments;

Whereas more than 22 percent of total State and local government general revenue comes from the Federal Government according to Census Bureau’s latest Annual Survey of State and Local Government Finance;

Whereas several State and local pension plans are expected to fully exhaust their funds within ten years.
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

Just purchased an Antminer S5 on ebay for $375.00/shipped. I overclocked it to 1,350 GH/s. Now currently hashing at about 3.5 TH/s, which isn't bad for a home mining operation. Will be purchasing another in a few days. For each block I am getting 0.00935000 BTC.

The Antminer S5 is a phenomenal miner since it uses only 590W, and can easily be overclocked via the web GUI.
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

Bitcoin up to $262.00 and rising, just bought 2 more Antminer S5's. Hashing 5TH/s now.
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
Killswitch
Junior Member
Posts: 439
Joined: Tue Mar 23, 2010 6:12 am

Post by Killswitch »

Seems to be a lot more credibility in this global currency than once thought. I wonder how to spike it upwards ? You might need a few major Economies like Russia to go "belly up" the way ours did back in 2008 at the end of the Bush administration. People used to think that Bush was a "heel" as an effective President. If ya go back and take a look at his time in office, he makes Obama
look absolutely pitiful. I'm solid Democrat but, I wasted my time with Barack. The only positive is that he's a Black man and gave their race some solid definition.
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

Check out my bitcoin wallet:

Image
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

The most important thing to keep in mind with this technology is that no matter what the price is RIGHT NOW, wether it goes way up or way down to pennies on the dollar I will still be mining for the simple fact that the applications this technology offers is amazing, most of the TRUE miners out there would mine even if they are losing money because the short term is what morons see, the long term is what really matters. Gold (when it was given intrinsic value) went through the SAME EXACT scrutiny and ups and downs as this currency. It took time, and so will this.

This currency/technology is here to stay. It makes payment applications much safer, faster, and efficient. Future applications will probably have deeds, titles, etc on the ledger for high end purchases.

It is in its infancy which is something that everyone needs to understand, if you are in to coding I emphasize to look at the source code to look for ANY flaws, there are none in terms of security. It is the next best thing since sliced bread. Think of a world where cutting out the middlemen and need for banking institutions is gone... Sending money will be like sending an email, with more to offer than just that. bitcoin/cryptocurrencies will solve the worlds financial crisis, mark my words.

As the price of bitcoin drops, the amount of transactions taking place has gone up exponentially, meaning that more and more bitcoin transactions are taking place everyday, which means that bitcoins value/worth is ALOT more than what you see. It is being adopted worldwide, and in some cases there are entire cities that just use bitcoin as a means of currency. Germany has some cities as a prime example that deal exclusively in bitcoin.

The source code for it is immensely amazing to look at and is any programmers wet dream. Obviously I believe in it more so than an actual God, because it is mathematically sound in every way, just the structure behind the blockchain is so immense that it just makes perfect sense to use it in a world that calls for it. Anyways I am done talking about it for now :D
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
gone
Junior Member
Posts: 55
Joined: Wed Jul 19, 2006 9:59 am

Post by gone »

Just wanted to add that I've seen recent reports of people trying to buy and/or sell locally getting jacked for theirs. I think at least two incidents in NYC area; one an FDNY firefighter that got stabbed.

So, how are BTC "laundered". Let's say I buy BTC and want to make an illicit purchase. How could I remove any trace back to my initial purchase of BTC?
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

That is crazy, haha. I figured with the lack of having paper money on you would lower this type of incident, I guess not.

As far as making an illicit purchase say from Agora, or another site, I know of someone close to me that made at least a dozen purchases on Silkroad (when it was around) and Agora, and has yet to be traced back to him. On those types of sites, the websites themselves add PGP Keys for protection in case the site is ever taken down. So if someone were to look at the transaction on the blockchain it would only show the receiving address and not the actual name of the person or what was purchased, which is the best part about bitcoins is it is anonymous to a point. Nobody can tell who you are or what you purchased, the only thing that shows is your bitcoin wallet address.
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
gone
Junior Member
Posts: 55
Joined: Wed Jul 19, 2006 9:59 am

Post by gone »

Scouring the darknet I came across references to mixers. Didn't seem to be referring to email but etc laundering. Know anything 'bout 'em?
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

gone wrote:Scouring the darknet I came across references to mixers. Didn't seem to be referring to email but etc laundering. Know anything 'bout 'em?
Not sure myself about "laundering bitcoins" but I really see no reason to do so... They are not controlled by any central governments, and thus no name is attached to them, now this could change when a central exchange is adopted which it seems likely as more time passes. It is a relatively pointless thing to do right now since every transaction is recorded on the blockchain anyways. It would be easier for me to explain this if I was at a crypto-currency conference. I do however understand the reasoning behind wanting to make them as untraceable as possible, and right now they pretty much are. If and when exchanges in the USA are FORCED to submit 1099 forms for each customer that sells their coins then this will be the time to wonder about laundering.

Honestly, the governments should leave this alone since it was designed to keep them out of it and yet they still manage to have the IRS tax people for capital gains on it, only the people that actually want to pay taxes on it. I for one stand behind the idea that it was made to exchange without taxation and unnecessary middlemen expense. If the IRS wants money from the people, they should run back to uncle sam and tell him to print them more since they do it anyways. The people want out of this corrupted bullshit system.. What don't they get?

Also price of bitcoin now up to $265 and rising.
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
MrRogers
Junior Member
Posts: 775
Joined: Mon Jan 19, 2009 9:25 pm
Location: 127.0.0.1>localhost

Post by MrRogers »

The best way to "launder" them would be to trade them in for Litecoins, then back to bitcoin through an exchange, then cash them out if you need to, or purchase new bitcoins through the exchange if you want to keep your money in bitcoin.
I JTAGGED your mom.
I was told that there is no such thing as a free lunch, I then learned through personal experience that the best things in life ARE FREE - Me

WE ARE ANONYMOUS, EXPECT US.

All posts/topics that I post in are completely hypothetical in real life and should not be taken seriously.
Post Reply

Who is online

Users browsing this forum: No registered users and 7 guests