Originally posted by NickFitz
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Bitcoin mining
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merely at clientco for the entertainment -
Originally posted by eek View PostSupposedly the closer is due to a undiscovered theft of a few coins.... 744,000 of them or roughly $350m even at today's price.Comment
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Originally posted by NickFitz View PostCoincidentally, here's a Bitcoin Address that has received 782,558.7249885 BTC up to a couple of days ago, and currently has a balance of 0: https://blockchain.info/address/1Drt...SSixZwQtMZ3Tew'CUK forum personality of 2011 - Winner - Yes really!!!!Comment
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As if people hadn't wised up last time... http://forums.contractoruk.com/gener...lundering.html
There's one born every minute."I can put any old tat in my sig, put quotes around it and attribute to someone of whom I've heard, to make it sound true."
- Voltaire/Benjamin Franklin/Anne Frank...Comment
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Originally posted by OwlHoot View PostSo what exactly does bitcoin mining entail?
1) Install an unlimited, ultra fast Internet connection
2) Install then start free bitcoin wallet software on your computer
3) Install then start free bitcoin mining software on your computer
4) Configure the mining software - specify the wallet and mining details (it's possible to choose and join a mining syndicate)
5) Wait for untold riches ! - as the bitcoins are 'mined' (calculated from a constant incoming Internet data stream) they'll appear in your wallet as virtual currency which can be used 'like PayPal'
No need to worry about the mining algorithms, blockchains etc - the software will do it all for you !
Problem is step 4) ... on a standard pc it could take months, years?, never? to mine a single bitcoin now as standard hardware is just too slow to compete with the custom hardware established miners are using.
A little industry has grown up selling custom 'ASIC based' mining hardware .. e.g. https://products.butterflylabs.com/
"In the American gold rush the people who got rich weren't those digging for gold but the ones selling the spades"
For most, speculating on bitcoins with real cash could make (or lose) money much faster.Comment
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Here's MtGox's owner Mark Karpeles's GitHub account, specifically, his Bitcoin Lib. Note the comment at the top:
"quick'n'dirty bitcoin signing lib because too lazy to reimplement ECDSA in pure PHP"
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More annoyingly it's also pushing up the price of high end GPUs for gamingSocialism is inseparably interwoven with totalitarianism and the abject worship of the state.
No Socialist Government conducting the entire life and industry of the country could afford to allow free, sharp, or violently-worded expressions of public discontent.Comment
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