Silk Road forums
Discussion => Silk Road discussion => Topic started by: kvalitetsbevisst on January 21, 2013, 11:58 am
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BTC has been rising enormously in value the last few days. I just got shock when I checked its value at preev.com
Does anyone have any clue as to why the currency is rising these days?
Just wondering ..
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Demand?
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guess so..
not a bad thing though, especially as a vendor. but i was just wondering if something in particular happened.
the last time i can remember such a drastic rise/fall was when SR had its previous downtime
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guess so..
not a bad thing though, especially as a vendor. but i was just wondering if something in particular happened.
the last time i can remember such a drastic rise/fall was when SR had its previous downtime
Pending ASIC fever, plus more SR users would be my guess
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ASIC Fever?
Please elaborate :)
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ASIC Fever?
Please elaborate :)
ASICS are the supposed next generation of SOC(system on a chip) processors geared specifically towards bitcoin mining computations. The minimum speed offered by htttp://butterflylabs.com is supposedly 3 GH(That's right motherfucking gigahashs). No one has yet seen them deliver, they are supposedly releasing at the end of january. These devices are a little expensive, and are expected to essentially kill home mining for people with graphics cards because of the way the network adjusts payouts to hashing traffic. Say you manage to eek out 500 MH with your TOP OF THE LINE graphics card which cost 900 dollars. The lowest tier asic from that site will go for around ~600$ with a 3 GH speeds. Your investment in gpu mining is now worthless.
It will essentially shift the spectrum from hobbyists from creators to buyers. Thus the price will skyrocket. Buy your coins now people, it's a storm is coming, invest while you can. Use satoshi dice with my posted strategy on the other thread on how to make money with bitcoins or whatever it was. I am quite happy to provide access to the account for you guys to analyze the results yourselves and come to your own conclusions on how to play their system. I have a sample size of 125+ bets on one odd, if you guys can't discern a visible pattern i will be ashamed of you guys.
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Yeah, a bunch of buying. Yesterday on bitcointalk.org someone mentioned a $200K buy order that caused the BTC value to jump from $15.70 to over $16, but obviously that's only a part of the increase from $14. If you mess with bitcoins, it's a good idea to read bitcointalk.org regularly, as it contains all the news, gossip, scam reports, etc.
Overall bitcoins are up 60% since August, so if you've been holding onto coins, that patience is paying off. :)
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Yeah, a bunch of buying. Yesterday on bitcointalk.org someone mentioned a $200K buy order that caused the BTC value to jump from $15.70 to over $16, but obviously that's only a part of the increase from $14. If you mess with bitcoins, it's a good idea to read bitcointalk.org regularly, as it contains all the news, gossip, scam reports, etc.
Overall bitcoins are up 60% since August, so if you've been holding onto coins, that patience is paying off. :)
Would you be willing to analyze my blockchain wallet to help me crack Satoshidice? Like i mentioned it's a completely empty account with a large sample size. If so I'll pm you immediately
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ASIC Fever?
Please elaborate :)
ASICS are the supposed next generation of SOC(system on a chip) processors geared specifically towards bitcoin mining computations. The minimum speed offered by htttp://butterflylabs.com is supposedly 3 GH(That's right motherfucking gigahashs). No one has yet seen them deliver, they are supposedly releasing at the end of january. These devices are a little expensive, and are expected to essentially kill home mining for people with graphics cards because of the way the network adjusts payouts to hashing traffic. Say you manage to eek out 500 MH with your TOP OF THE LINE graphics card which cost 900 dollars. The lowest tier asic from that site will go for around ~600$ with a 3 GH speeds. Your investment in gpu mining is now worthless.
It will essentially shift the spectrum from hobbyists from creators to buyers. Thus the price will skyrocket. Buy your coins now people, it's a storm is coming, invest while you can. Use satoshi dice with my posted strategy on the other thread on how to make money with bitcoins or whatever it was. I am quite happy to provide access to the account for you guys to analyze the results yourselves and come to your own conclusions on how to play their system. I have a sample size of 125+ bets on one odd, if you guys can't discern a visible pattern i will be ashamed of you guys.
I was checking out those Butterfly Lab ASICS a few months back. They are due to be released pretty soon - by all accounts, they sound like they would be worth it, even for the basic model they are offering, which is $649. That piece of equipment came recommended from a guy I know that mines bitcoin. He is big into it, and he reckons eventually (not for years) bitcoins will be worth more than $1000 each. Small buyers will end up buying fractions of full bitcoins - would that help anonymity even further, seeing as individual bitcoins will be broken up?
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ASIC Fever?
Please elaborate :)
ASICS are the supposed next generation of SOC(system on a chip) processors geared specifically towards bitcoin mining computations. The minimum speed offered by htttp://butterflylabs.com is supposedly 3 GH(That's right motherfucking gigahashs). No one has yet seen them deliver, they are supposedly releasing at the end of january. These devices are a little expensive, and are expected to essentially kill home mining for people with graphics cards because of the way the network adjusts payouts to hashing traffic. Say you manage to eek out 500 MH with your TOP OF THE LINE graphics card which cost 900 dollars. The lowest tier asic from that site will go for around ~600$ with a 3 GH speeds. Your investment in gpu mining is now worthless.
It will essentially shift the spectrum from hobbyists from creators to buyers. Thus the price will skyrocket. Buy your coins now people, it's a storm is coming, invest while you can. Use satoshi dice with my posted strategy on the other thread on how to make money with bitcoins or whatever it was. I am quite happy to provide access to the account for you guys to analyze the results yourselves and come to your own conclusions on how to play their system. I have a sample size of 125+ bets on one odd, if you guys can't discern a visible pattern i will be ashamed of you guys.
I was checking out those Butterfly Lab ASICS a few months back. They are due to be released pretty soon - by all accounts, they sound like they would be worth it, even for the basic model they are offering, which is $649. That piece of equipment came recommended from a guy I know that mines bitcoin. He is big into it, and he reckons eventually (not for years) bitcoins will be worth more than $1000 each. Small buyers will end up buying fractions of full bitcoins - would that help anonymity even further, seeing as individual bitcoins will be broken up?
AFAIK a bitcoin can be as far as 6 decimal places down in value, so that is actually probably more of an eventuality more than a mere possibility. The Theoritcal(not really theorical anymore, it's gonna fucking happen) maximum amount of bitcoins in the system is 21 million coins. There are over 7 billion people now. Do the math. Not hard to see that a very large investment now is going to be a motherfucking goldmine down the road. Now if only i had money.....
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Crack Satoshi Dice? If they pull answers from /dev/urandom, you're not going to crack it.
However, you might be interested in this: https://bitcointalk.org/index.php?topic=94481.0
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Crack Satoshi Dice? If they pull answers from /dev/urandom, you're not going to crack it.
However, you might be interested in this: https://bitcointalk.org/index.php?topic=94481.0
Regardless it doesn't seem that impossibly hard to crack what is supposedly a 50-50 shot(it's obviously not but it's close enough that it's the best one to choose for the risk reward factor.) I will forward the info to you in a PM, do with it what you will, however i would appreciate it if you would inform me if you can glean anything
this is a repost of my modified martingale betting strategy
I developed my own modified martingale strategy for using Satoshi Dice. When i win big, or get a couple wins in a row, i will bet low for a few bets, like .01 btc, or .02. I purposefully try to provoke a loss from the system, as it is gauranteed to give you one with the martingale strategy. These are adaptive algorithms, so if you managed to get a series of big wins with the martingale strategy, it will know that, allow you to think you're strategy is flawless. Then you start betting larger and larger amounts trying to double over and over with a larger and larger series of losses interspersed with spare wins. The whole goal of their system is to make you bet as much as possible in anger, because your strategy appeared to be working, and now it isn't. I experienced this first hand, as i had tested this with varying bet amounts at varying intervals between X number of bets. My strategy was honed and refined on the 50% win odd, with a 1.957 modifier.
These tests of mine were performed using a blockchain.info ewallet, and i am quite happy to share the password to the account for analysis of the results to gain furthur insight into gaming their system to trusted members of the community.
Also please keep in mind, with this strategy you need to set a baseline for you're win lose percentage.
Say i bet a set amount everytime. It would look something like this in my transaction history.
.03 Win
.03 win
.01 loss
.1 win
.03 loss
.03 loss
.5 win
That is a sample bet chain that i would experience. This strategy has some fluctuations, as do all others, however this one is gauranteed to make you money if you play it calmly, safely, and anxiety free. If you play this game as a business you can make money. I went from 4 bitcoins, up to 11 bitcoins at one point, before i got cocky and disregarded my own strategy and played regular martingale.
As i have stated before, i would be happy to share the empty blockchain.info ewallet login info with members i know, for transaction analysis.
Edit:also i forgot to mention the max bet amount is 250 btc flat. Potentially using my system at that odd you could almost double your money if you max that bet and win, equaling around 189.25 net profit in bitcoins in about 10 seconds if you win
Edit 2: This is actually just one of a few ewallets i performed these tests on over a few weeks. I tried moving around a bit testing if they burned a specific address, or if they somehow worked with blockchain.info to help recognize people gaming their system. This particular ewallet has around 125+ sample bets for you guys to analyze
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ASIC Fever?
Please elaborate :)
ASICS are the supposed next generation of SOC(system on a chip) processors geared specifically towards bitcoin mining computations. The minimum speed offered by htttp://butterflylabs.com is supposedly 3 GH(That's right motherfucking gigahashs). No one has yet seen them deliver, they are supposedly releasing at the end of january. These devices are a little expensive, and are expected to essentially kill home mining for people with graphics cards because of the way the network adjusts payouts to hashing traffic. Say you manage to eek out 500 MH with your TOP OF THE LINE graphics card which cost 900 dollars. The lowest tier asic from that site will go for around ~600$ with a 3 GH speeds. Your investment in gpu mining is now worthless.
It will essentially shift the spectrum from hobbyists from creators to buyers. Thus the price will skyrocket. Buy your coins now people, it's a storm is coming, invest while you can. Use satoshi dice with my posted strategy on the other thread on how to make money with bitcoins or whatever it was. I am quite happy to provide access to the account for you guys to analyze the results yourselves and come to your own conclusions on how to play their system. I have a sample size of 125+ bets on one odd, if you guys can't discern a visible pattern i will be ashamed of you guys.
I was checking out those Butterfly Lab ASICS a few months back. They are due to be released pretty soon - by all accounts, they sound like they would be worth it, even for the basic model they are offering, which is $649. That piece of equipment came recommended from a guy I know that mines bitcoin. He is big into it, and he reckons eventually (not for years) bitcoins will be worth more than $1000 each. Small buyers will end up buying fractions of full bitcoins - would that help anonymity even further, seeing as individual bitcoins will be broken up?
AFAIK a bitcoin can be as far as 6 decimal places down in value, so that is actually probably more of an eventuality more than a mere possibility. The Theoritcal(not really theorical anymore, it's gonna fucking happen) maximum amount of bitcoins in the system is 21 million coins. There are over 7 billion people now. Do the math. Not hard to see that a very large investment now is going to be a motherfucking goldmine down the road. Now if only i had money.....
I find the whole bitcoin thing a very interesting concept. Like you say, they would be a serious investment for someone who had the money to plough into them. I try to hang onto them, but I always find some other weird drug that I haven't tried before on SR and feel compelled to buy it!! :) Even if I could hang onto some for a couple of years, i'd more than likely make a serious profit on them. When I started as a buyer on SR, I was able to get them for approximately €4.50 each. The value of them has almost tripled since then (less than a year ago), so there is definitely a tidy sum to be made from holding them :)
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The way to make money in bitcoins, like any investment scheme, is to diversify and go longterm. The vast majority of the people who tried various get rich quick schemes (Bitcoinica, GLBSE, Satoshi Dice) are broke. Look at the top 10 bitcoin addresses that have thrown money at Satoshi Dice (listed on the web site), they all lost thousands of coins. Meanwhile, the people who have held onto their coins for 2-3 years are rich now.
Sure, a tiny fraction of people who have bet on Satoshi Dice are up by thousands of coins overall, but that's not a reliable investment scheme. :)
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ASIC Fever?
Please elaborate :)
ASICS are the supposed next generation of SOC(system on a chip) processors geared specifically towards bitcoin mining computations. The minimum speed offered by htttp://butterflylabs.com is supposedly 3 GH(That's right motherfucking gigahashs). No one has yet seen them deliver, they are supposedly releasing at the end of january. These devices are a little expensive, and are expected to essentially kill home mining for people with graphics cards because of the way the network adjusts payouts to hashing traffic. Say you manage to eek out 500 MH with your TOP OF THE LINE graphics card which cost 900 dollars. The lowest tier asic from that site will go for around ~600$ with a 3 GH speeds. Your investment in gpu mining is now worthless.
It will essentially shift the spectrum from hobbyists from creators to buyers. Thus the price will skyrocket. Buy your coins now people, it's a storm is coming, invest while you can. Use satoshi dice with my posted strategy on the other thread on how to make money with bitcoins or whatever it was. I am quite happy to provide access to the account for you guys to analyze the results yourselves and come to your own conclusions on how to play their system. I have a sample size of 125+ bets on one odd, if you guys can't discern a visible pattern i will be ashamed of you guys.
I was checking out those Butterfly Lab ASICS a few months back. They are due to be released pretty soon - by all accounts, they sound like they would be worth it, even for the basic model they are offering, which is $649. That piece of equipment came recommended from a guy I know that mines bitcoin. He is big into it, and he reckons eventually (not for years) bitcoins will be worth more than $1000 each. Small buyers will end up buying fractions of full bitcoins - would that help anonymity even further, seeing as individual bitcoins will be broken up?
AFAIK a bitcoin can be as far as 6 decimal places down in value, so that is actually probably more of an eventuality more than a mere possibility. The Theoritcal(not really theorical anymore, it's gonna fucking happen) maximum amount of bitcoins in the system is 21 million coins. There are over 7 billion people now. Do the math. Not hard to see that a very large investment now is going to be a motherfucking goldmine down the road. Now if only i had money.....
I find the whole bitcoin thing a very interesting concept. Like you say, they would be a serious investment for someone who had the money to plough into them. I try to hang onto them, but I always find some other weird drug that I haven't tried before on SR and feel compelled to buy it!! :) Even if I could hang onto some for a couple of years, i'd more than likely make a serious profit on them. When I started as a buyer on SR, I was able to get them for approximately €4.50 each. The value of them has almost tripled since then (less than a year ago), so there is definitely a tidy sum to be made from holding them :)
Obviously this might seem over dramatic, but think about it like investing in apple in the 80's. You will feel like a massive tool if the value skyrockets to 100 btc in 3 months and didn't buy a bunch now(i'll feel worse trust me).
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Slightly dramatic ;) ;) but a good analogy all the same. Apple shares are probably the most lucrative shares on the stock market at the minute. If my vendor account ever gets off the ground, i'll definitely try and hold onto as much coin as I can :)
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Slightly dramatic ;) ;) but a good analogy all the same. Apple shares are probably the most lucrative shares on the stock market at the minute. If my vendor account ever gets off the ground, i'll definitely try and hold onto as much coin as I can :)
I would suggest that you do, it seems prudent. If they skyrocket, maybe you can send a few my way for the advice eh ;D
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supoly and demand I would have thought
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Slightly dramatic ;) ;) but a good analogy all the same. Apple shares are probably the most lucrative shares on the stock market at the minute. If my vendor account ever gets off the ground, i'll definitely try and hold onto as much coin as I can :)
I would suggest that you do, it seems prudent. If they skyrocket, maybe you can send a few my way for the advice eh ;D
I'll see what I can do. In the meantime, if you want a free pipe or pill cache, shoot me a PM on the main site and i'll create a custom listing for you ;)
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Slightly dramatic ;) ;) but a good analogy all the same. Apple shares are probably the most lucrative shares on the stock market at the minute. If my vendor account ever gets off the ground, i'll definitely try and hold onto as much coin as I can :)
I would suggest that you do, it seems prudent. If they skyrocket, maybe you can send a few my way for the advice eh ;D
I'll see what I can do. In the meantime, if you want a free pipe or pill cache, shoot me a PM on the main site and i'll create a custom listing for you ;)
Very down. Will pm you right now. I am glad to be of use to the community, my purpose is to be as informative as possible if anything. I actually consider myself to have very little technical knowledge or formal education, so take from that what you will. Education in the sense that i had shitty as fuck teachers and just generally all around didn't pay attention or try
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Slightly dramatic ;) ;) but a good analogy all the same. Apple shares are probably the most lucrative shares on the stock market at the minute. If my vendor account ever gets off the ground, i'll definitely try and hold onto as much coin as I can :)
I would suggest that you do, it seems prudent. If they skyrocket, maybe you can send a few my way for the advice eh ;D
I'll see what I can do. In the meantime, if you want a free pipe or pill cache, shoot me a PM on the main site and i'll create a custom listing for you ;)
Very down. Will pm you right now. I am glad to be of use to the community, my purpose is to be as informative as possible if anything. I actually consider myself to have very little technical knowledge or formal education, so take from that what you will. Education in the sense that i had shitty as fuck teachers and just generally all around didn't pay attention or try
Cool ;)
Formal education doesn't count for a whole lot if you ask me (unless you are a doctor or something like that), so I wouldn't worry about it if I were you :)
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Slightly dramatic ;) ;) but a good analogy all the same. Apple shares are probably the most lucrative shares on the stock market at the minute. If my vendor account ever gets off the ground, i'll definitely try and hold onto as much coin as I can :)
I would suggest that you do, it seems prudent. If they skyrocket, maybe you can send a few my way for the advice eh ;D
I'll see what I can do. In the meantime, if you want a free pipe or pill cache, shoot me a PM on the main site and i'll create a custom listing for you ;)
Very down. Will pm you right now. I am glad to be of use to the community, my purpose is to be as informative as possible if anything. I actually consider myself to have very little technical knowledge or formal education, so take from that what you will. Education in the sense that i had shitty as fuck teachers and just generally all around didn't pay attention or try
Cool ;)
Formal education doesn't count for a whole lot if you ask me (unless you are a doctor or something like that), so I wouldn't worry about it if I were you :)
I actually think it's pretty ironic that all of my vocabulary comes from me reading large fantasy novels as a kid, plus reading shitloads of articles on the internet. Reading folks, do it.
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ASIC Fever?
Please elaborate :)
ASICS are the supposed next generation of SOC(system on a chip) processors geared specifically towards bitcoin mining computations. The minimum speed offered by htttp://butterflylabs.com is supposedly 3 GH(That's right motherfucking gigahashs). No one has yet seen them deliver, they are supposedly releasing at the end of january. These devices are a little expensive, and are expected to essentially kill home mining for people with graphics cards because of the way the network adjusts payouts to hashing traffic. Say you manage to eek out 500 MH with your TOP OF THE LINE graphics card which cost 900 dollars. The lowest tier asic from that site will go for around ~600$ with a 3 GH speeds. Your investment in gpu mining is now worthless.
+1 for a short but sweet answer, thanks :)
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ASIC Fever?
Please elaborate :)
ASICS are the supposed next generation of SOC(system on a chip) processors geared specifically towards bitcoin mining computations. The minimum speed offered by htttp://butterflylabs.com is supposedly 3 GH(That's right motherfucking gigahashs). No one has yet seen them deliver, they are supposedly releasing at the end of january. These devices are a little expensive, and are expected to essentially kill home mining for people with graphics cards because of the way the network adjusts payouts to hashing traffic. Say you manage to eek out 500 MH with your TOP OF THE LINE graphics card which cost 900 dollars. The lowest tier asic from that site will go for around ~600$ with a 3 GH speeds. Your investment in gpu mining is now worthless.
+1 for a short but sweet answer, thanks :)
Again I'd like to serve as a resource for the community in any way i can. It certainly has it's benefits :)
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Oh, and 100% co-sign on the reading statement, that shit works ! :D