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ALL crypto-currency miners,,, Mt GOX suspending payments

 
Hitndahedfred
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User ID: 826012
United States
06/21/2013 06:36 AM
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ALL crypto-currency miners,,, Mt GOX suspending payments
Ok all you miners, investers, hoarders

From what I get from this, Mt.Gox is suspending payments in USD for a 2 week time period to figure issues out.
(IMO either tracking or accountability as all cryptocurrencies are totally anonymous)
[link to singularityhub.com]

Bitcoin and Litecoin are the two largest and most popular "alternative" currencies now.

Litecoin Wiki
[link to en.wikipedia.org]

Bitcoin Wiki
[link to en.wikipedia.org]

As designed it is a peer to peer system using API keys and 16 bit "wallet" IDs to store, send and recieve values.

It is totally owner owned, meaning the banks nor the feds or the government has no control of the value or anything else to do with it.

As of this point Liteecoin is "worth" $2.20 USD and Bitcoin is worth around $110.00 USD.

In my true "opinion" ALL money in these "modern" times has no actual value. The value of "money" is only when people decide that it does have value,,to them and others that are willing to use it and accept the "value" assigned to it.

With the USD worth only .05c anymore, these alternative currencies" in my opinion are worthy of procuring. First thing that got my attention is that they are privately owned. Which means there is NO FED and even better no NO banks involved.

Personally I believe the Litecoin crypto-currency is the better "deal" for the average participant to get involved in.

Here is why,,, there are now specific devices designed and developed just for "mining" Bitcoin. These devices are ASICS (Application Specific Integrated Circuit). These specialized devices compute at 100 times or even thousands more than the high end video cards it was designed for. They are fairly expensive and the lead times for delivery are up to a year for some models.
[link to www.butterflylabs.com]

All this said,,, the "difficulty" of the actual mining process goes up in scheduled intervals. So this means by the time your ASICS device is delivered it may not even be profitable to run it.

The Litecoin runs on "normal" PC hardware which makes especially appealing to the average home PC owner. With AMD based CPUs and GPUs being the optimum producers.
Here is a comparison of various hardware and their approximate "hash" (computing power).
[link to github.com (secure)]

So anyway,, lets talk.

coffee

Last Edited by Hitndahedfred on 06/21/2013 08:00 AM
Each time a person stands for an ideal, or acts to improve the lot of others, or strikes out against injustice, he or she sends forth a tiny ripple of hope. And crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance. Few are willing to embrace the disapproval of their fellows, the censure of their colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential vital quality for those who seek to change a world that yields most painfully to change. [Robert F. Kennedy]



[link to www.stricklychopped.com]

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Anonymous Coward
User ID: 42021286
United States
06/21/2013 07:42 AM
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Re: ALL crypto-currency miners,,, Mt GOX suspending payments
Thanks for the info. You put a lot into it and I'd like for it not to be lost. This is big news.

hf

bump
Hitndahedfred  (OP)

User ID: 826012
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06/21/2013 07:43 AM
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Re: ALL crypto-currency miners,,, Mt GOX suspending payments
Seriously,

NO ONE here is involved in this?

Your PC sits running all day, eating electricity anyway.

Why not have all those unused cycles make you some income.

There are hundreds if not thousands of places on the net that accept these forms of exchange.

[link to www.hashr.org (secure)]
They carry a wide range of electronics and other quality products!

[link to www.allthingsluxury.biz]
Buy silver, jewelery, and accessories for Litecoin!

[link to the420life.com]
I think this one is self explanatory

[link to bitcoindirectory.net]
Directory of sites that accepts Bitcoin as payment method

And as these "currencies" become more popular there will be a bloom of new businesses, services and products that will accept these forms of payment.

Now there is also the SILK ROAD Marketplace.
[link to mainstreamlos.tumblr.com]

So there is already a considerable usage of these currencies.

peace
Each time a person stands for an ideal, or acts to improve the lot of others, or strikes out against injustice, he or she sends forth a tiny ripple of hope. And crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance. Few are willing to embrace the disapproval of their fellows, the censure of their colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential vital quality for those who seek to change a world that yields most painfully to change. [Robert F. Kennedy]



[link to www.stricklychopped.com]

[link to www.ghi-engrs.com]
Hitndahedfred  (OP)

User ID: 826012
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06/21/2013 07:44 AM
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Re: ALL crypto-currency miners,,, Mt GOX suspending payments
Thanks for the info. You put a lot into it and I'd like for it not to be lost. This is big news.

hf

bump
 Quoting: St3v3

======================================================

Thank you for the kind words.

cool2
Each time a person stands for an ideal, or acts to improve the lot of others, or strikes out against injustice, he or she sends forth a tiny ripple of hope. And crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance. Few are willing to embrace the disapproval of their fellows, the censure of their colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential vital quality for those who seek to change a world that yields most painfully to change. [Robert F. Kennedy]



[link to www.stricklychopped.com]

[link to www.ghi-engrs.com]
Anonymous Coward
User ID: 42021286
United States
06/21/2013 07:50 AM
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Re: ALL crypto-currency miners,,, Mt GOX suspending payments
Thanks for the info. You put a lot into it and I'd like for it not to be lost. This is big news.

hf

bump
 Quoting: St3v3

======================================================

Thank you for the kind words.

cool2
 Quoting: Hitndahedfred


You almost hurt my feelings when you said No ONE! LOL
j/k

I have a MtGox app, own and watch bitcoin like a hawktard. This really is huge and more people should know whats going on and even if they don't, your post was informative enough to verse the virgins. Thank you kindly and sincerely!
Hitndahedfred  (OP)

User ID: 826012
United States
06/21/2013 08:03 AM
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Re: ALL crypto-currency miners,,, Mt GOX suspending payments
Thanks for the info. You put a lot into it and I'd like for it not to be lost. This is big news.

hf

bump
 Quoting: St3v3

======================================================

Thank you for the kind words.

cool2
 Quoting: Hitndahedfred


You almost hurt my feelings when you said No ONE! LOL
j/k

I have a MtGox app, own and watch bitcoin like a hawktard. This really is huge and more people should know whats going on and even if they don't, your post was informative enough to verse the virgins. Thank you kindly and sincerely!
 Quoting: St3v3

====================================================

Yes, this IS news.
And thanks for the reply. There are lots of us who are pretty heavily invested in this. In time as well as hardware not to mention the aggrivation of learning to work with scrypt. There are simple mining programs but nothing compares to compiling your own.
peace
Each time a person stands for an ideal, or acts to improve the lot of others, or strikes out against injustice, he or she sends forth a tiny ripple of hope. And crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance. Few are willing to embrace the disapproval of their fellows, the censure of their colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential vital quality for those who seek to change a world that yields most painfully to change. [Robert F. Kennedy]



[link to www.stricklychopped.com]

[link to www.ghi-engrs.com]
Hitndahedfred  (OP)

User ID: 826012
United States
06/21/2013 12:41 PM
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Re: ALL crypto-currency miners,,, Mt GOX suspending payments
bigbump
Each time a person stands for an ideal, or acts to improve the lot of others, or strikes out against injustice, he or she sends forth a tiny ripple of hope. And crossing each other from a million different centers of energy and daring, those ripples build a current that can sweep down the mightiest walls of oppression and resistance. Few are willing to embrace the disapproval of their fellows, the censure of their colleagues, the wrath of their society. Moral courage is a rarer commodity than bravery in battle or great intelligence. Yet it is the one essential vital quality for those who seek to change a world that yields most painfully to change. [Robert F. Kennedy]



[link to www.stricklychopped.com]

[link to www.ghi-engrs.com]
Anonymous Coward
User ID: 50441524
United Kingdom
12/05/2013 02:38 PM
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Re: ALL crypto-currency miners,,, Mt GOX suspending payments
Come sell your crypto currency for cash at

www.whiffyskunk.com

J





GLP