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Bitcoins (and other crypto currencies)



A

Addicted

rctempire said:
Oh oh, Coinye aint doing well. A lot of sites under attack right now.
Interesting.
Click to expand...

We are under attack too :'(

Think we've just sorted it though, around 1.5Gbit of network traffic :|

Chapppers11 said:
So is Coinye not likely to be around for long?

Is it worth first investing in BTC or Coinye when it goes live?
Click to expand...

Entirely depends if it hits an exchange or not, I wouldn't personally invest in it no (I only mine it to make a quick buck). Coinye is live btw, had to be released early due to legal pressures, and is now called CoinyeCoin rather than Coinye West.
 
C

Chip-mk1

  182/RS2/ Turbo/Mk1
rctempire said:
Oh oh, Coinye aint doing well. A lot of sites under attack right now.
Interesting.
Click to expand...

I think people need to start 51%'ing all the new coins that spring up to stop the influx of them stopping the success of BTC personally.

I dont think more coins are in anyway a good thing, I think we need just one crypto currency only for the best results.
 
Dunc.

Dunc.

Can someone please explain how you can lose your coins? Such as the guy that lost millions by binning his PC.
Surely it's like paypal and you can log in to your wallet on any PC?

Or is it purely because he hadn't written down his details?
 
Dunc.

Dunc.

rctempire said:
A wallet is stored locally on your pc. That's how he did it.
Its not stored online. (yet)
Click to expand...

Thanks for that. Surely this wallet is just a shortcut to something online though? To 'verify' your coins as such, or couldn't someone modify their files to gain coins. (Hack?)
 
A

Addicted

Dunc. said:
Thanks for that. Surely this wallet is just a shortcut to something online though? To 'verify' your coins as such, or couldn't someone modify their files to gain coins. (Hack?)
Click to expand...

No, a wallet is a "private" key to your address on the public blockchain.

You can see all the stuff online associated with your address, but to get at them and spend them, you need the private key bit. :)




http://www.wired.com/business/2014/01/overstock-bitcoin-live/ -- Apparently this is HUGE news, not American so no clue.
 
Dunc.

Dunc.

Addicted said:
No, a wallet is a "private" key to your address on the public blockchain.

You can see all the stuff online associated with your address, but to get at them and spend them, you need the private key bit. :)




http://www.wired.com/business/2014/01/overstock-bitcoin-live/ -- Apparently this is HUGE news, not American so no clue.
Click to expand...

Got it now, thanks.

So to really secure your key, I assume you can back it up to a pen drive etc?

Must be big money in stealing peoples keys by cyber criminals.
 
C

Chip-mk1

  182/RS2/ Turbo/Mk1
Its only truely being used an actual currency when it stops being converted into dollars or pounds as part of the transaction IMHO

Still a step forward though
 
B

BatFastard

Simon N said:
Would my coins be safe on Btc-e.com or would you suggest getting them into a wallet?
Click to expand...

ALWAYS keep them in your own wallet. hacks, phishing etc happens all the time. Better yet, get a paper wallet and keep a couple around.

But then again you're probably using Windows so at the very least get a Blockchain wallet and use 2 factor authentication.
 
Last edited:
Dunc.

Dunc.

BatFastard said:
ALWAYS keep them in your own wallet. hacks, phishing etc happens all the time. Better yet, get a paper wallet and keep a couple around.

But then again you're probably using Windows so at the very least get a Blockchain wallet and use 2 factor authentication.
Click to expand...

Example of such a wallet for windows please?
 
B

BatFastard

Dunc. said:
Example of such a wallet for windows please?
Click to expand...

I was on about blockchain.info it's on online wallet which I think is probably the most secure around. Nothing is as secure as keeping it in your own hands as a paper wallet though.

Unfortunately I can't help with Windows as a whole as I haven't used it in years.
 
rctempire

rctempire

ClioSport Moderator
See that Coye is actually gaining some momentum now. Being potentially listed on some exchanges.

Interesting, but I think some developers should stop making Crypto Currency at the rate it is being developed. To many to actually even make it worth while as some are already dead before starting.
 
A

Addicted

rctempire said:
See that Coye is actually gaining some momentum now. Being potentially listed on some exchanges.

Interesting, but I think some developers should stop making Crypto Currency at the rate it is being developed. To many to actually even make it worth while as some are already dead before starting.
Click to expand...

Problem is they're not even making anything. They're just changing a few numbers and pictures.

Hell, you can even go to coingen.io, and spend $150 and you will have your own coin generated for you within 30mins.

Luckily, I think we'll start to see the end of the s**tcoins as people start not caring.



On another update: http://www.businessinsider.com/overstock-bitcoin-2014-1

Very good and informative video from someone who seemingly knows what hes talking about, and portrays BTC very well!
 
C

Chip-mk1

  182/RS2/ Turbo/Mk1
Addicted said:
Problem is they're not even making anything. They're just changing a few numbers and pictures.

Hell, you can even go to coingen.io, and spend $150 and you will have your own coin generated for you within 30mins.

Luckily, I think we'll start to see the end of the s**tcoins as people start not caring.
Click to expand...

Its no different really to the fact that you could go and start writing out your own bank notes TBH

The novelty will wear off when people realise others wont accept them.

Bitcoin has weight though because of the number of people that support it.

Ideally LTC needs to die out too for it to really work that BTC is the only one though.
 
C

Chip-mk1

  182/RS2/ Turbo/Mk1
Reko said:
Nooooo don't say that :eek: . I have LTC that I bought at $10, but tempted to convert them over to BTC tbh! I need more monnies!
Click to expand...

Lol, im not saying it will, im just saying that for BTC to really succeed it would help if LTC and all the others died.

If the idea is to have one world currency, then by definition there should only be one, lol.
 
C

Chip-mk1

  182/RS2/ Turbo/Mk1
Every new coin needs to be hit with a 51% attack unless it brings something genuinely useful to the party IMHO
 
A

Addicted

rctempire said:
See that Coinye coin is dead now. Well, officially.
Click to expand...

It's relaunched, http://coinyetheco.in - but on a proper front - it is dead. Our pool closed (we had 350Mh/s), and will not re-open due to the lack of rebranding/renaming to stop any suits.

Glad it's dead though, it was only for us a quick profit as per the usual coin that bring nothing to the table (just a pump and dump).




There's some sad news today though, the first FPGA/ASIC's for scrypt have been released by a company called Gridseed, they will mine Sha256, Sha256+Scrypt, or just Scrypt.

Set to Scrypt only, these 6 chip (60Kh/s each) usb devices each do 360Kh/s. Minimum order of 10 at $1360 - 3.6Mh/s for $1360 with only 70W power. Eek. You can't get that power on a normal machine without twice the cost, so we're in for what seems to be a huge rise (as if it hasn't gone up enough already!)
 
rctempire

rctempire

ClioSport Moderator
Addicted said:
It's relaunched, http://coinyetheco.in - but on a proper front - it is dead. Our pool closed (we had 350Mh/s), and will not re-open due to the lack of rebranding/renaming to stop any suits.

Glad it's dead though, it was only for us a quick profit as per the usual coin that bring nothing to the table (just a pump and dump).




There's some sad news today though, the first FPGA/ASIC's for scrypt have been released by a company called Gridseed, they will mine Sha256, Sha256+Scrypt, or just Scrypt.

Set to Scrypt only, these 6 chip (60Kh/s each) usb devices each do 360Kh/s. Minimum order of 10 at $1360 - 3.6Mh/s for $1360 with only 70W power. Eek. You can't get that power on a normal machine without twice the cost, so we're in for what seems to be a huge rise (as if it hasn't gone up enough already!)
Click to expand...

Im confused, I had coinye but no exchanges went live so no where to trade?

This just arrived
psu_fatality_750w_display.jpg

So able to use my graphics card now.
 
Dink

Dink

  Polo + Micra
i was thinking of sticking some money into a decent miner but opted just to get a couple of antminer u1's and see how it goes.

i did alright last time with the usb erupters.
 
Dink

Dink

  Polo + Micra
Addicted said:
There's some sad news today though, the first FPGA/ASIC's for scrypt have been released by a company called Gridseed, they will mine Sha256, Sha256+Scrypt, or just Scrypt.

Set to Scrypt only, these 6 chip (60Kh/s each) usb devices each do 360Kh/s. Minimum order of 10 at $1360 - 3.6Mh/s for $1360 with only 70W power. Eek. You can't get that power on a normal machine without twice the cost, so we're in for what seems to be a huge rise (as if it hasn't gone up enough already!)
Click to expand...

might be good as there is going to be an effect on the prices of GPU cards and there might even be a surge of second hand ones that people want rid to get some money for the FPGA/ASIC
 
A

Addicted

Dink said:
might be good as there is going to be an effect on the prices of GPU cards and there might even be a surge of second hand ones that people want rid to get some money for the FPGA/ASIC
Click to expand...

The price was wrong luckily, its around $4600 :)

So it's quite expensive for 3.6Mh/s, but the power costs saved will soon add up, you don't need to be mining for that long to pay them off!


Dink said:
i was thinking of sticking some money into a decent miner but opted just to get a couple of antminer u1's and see how it goes.

i did alright last time with the usb erupters.
Click to expand...


Yeah they're not too bad I don't think the U1's.

There's a group I mine with and we've just bought 12 more S1's, so we should have some very nice hashpower on top of what we have already :)
 
M

Mr Pants

  LY 182
Only just spotted this thread. Been fascinated by the whole thing.

I've invested just a small amount in some Peercoin (http://peercoin.net/). Mainly for a little bit of fun more than anything.

Reading up on it there seems to be opinion that it's coded in a more long-term, sustainable method than Bitcoin. That could of course be biased opinion. Cheap enough for me to have a pop and let it sit and see what happens.
 
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