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[Official] BitCoin LiteCoin DigitalCoin and all Crypto Currencies Club And General Information Thread - Page 1333

post #13321 of 22896
Quote:
Originally Posted by DiGiCiDAL View Post

I never understood why anyone trusted them (Mt Gox) in the first place... I mean c'mon... they started as a trading exchange for Magic: The Gathering... did you really expect them to be able to reliably handle millions of transactions without missing something - or rather lots of somethings.

I would much rather trust some unidentified Belorussians (BTC-e) or Canadians (VaultofSatoshi) despite their respective flaws before trusting a trading platform designed around 12yr boys and their card games. rolleyes.gif

They were 40 year old men and there collectibles! biggrin.gif

Such a joke..
post #13322 of 22896
Quote:
Originally Posted by DiGiCiDAL View Post

I never understood why anyone trusted them (Mt Gox) in the first place... I mean c'mon... they started as a trading exchange for Magic: The Gathering... did you really expect them to be able to reliably handle millions of transactions without missing something - or rather lots of somethings.

I would much rather trust some unidentified Belorussians (BTC-e) or Canadians (VaultofSatoshi) despite their respective flaws before trusting a trading platform designed around 12yr boys and their card games. rolleyes.gif

I think that you are underestimating how big of a market the 'little kid' trading card game is.... I would not downplay an exchange because they were involved in it; There are 3 shops that deal specifically in MTG in my city of less than 200k people... It is big business. That being said, I think that people are just blowing the Mt. Gox situation out of proportion. I do not use them, and if I was invested I would be a little worried, but I think they will recover. I see a lot of misinformation on them in the form of speculation (like saying they are artificially crashing the market so they can buy up BTC at the cheap; Which is totally unsubstantiated and someone will run to another site saying "you know what I heard they might be doing?")... Though it is the nature of people in the crypto game to see a problem and assume their wildest speculations and dreams are true, this is a market dominated by anarchists and people who hate everything.

Edit: Also you do know people look at all of us the same way... "Those 18 yr old techs and their coins rolleyes.gif"
Edited by blkdoutgsxr - 2/20/14 at 11:32am
post #13323 of 22896
Reinstalled ubuntu 12.04 and I get this! Installation type?




I have a 8gb with Ubuntu installed but I have a black 16gb usb that I want to use as my system memory and with the new ubuntu installed on it. Anyone get what I mean? Lol
post #13324 of 22896
Can any recommend a good exchange for trading Doge into LTC ? I know there's Cryptsy but I've heard negative things about them
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post #13325 of 22896
To the tax discussion that was going on: Someone claimed that they dont look in on you until you make a larger than $10k transaction. Ive also heard that number from what someone else remembered when they worked in a bank decades ago. Im certainly no expert but i did do a little research on the matter when i started mining. And from what i read banks are now required to file SARs (suspicious activity reports) to the IRS for 5k+ transactions but cryptocoin exchanges require to file SARs at only $2k. So be careful smile.gif

At least this is in the US

Quote:
Originally Posted by Minusorange View Post

Can any recommend a good exchange for trading Doge into LTC ? I know there's Cryptsy but I've heard negative things about them
They dont have the largest altcoin database or the highest liquidity but i prefer using coindup over cryptsy when the coin im trading is available. When i transfer coins to cryptsy i just walk away until they finally show up hours and hours later. Coindup takes under 5 mins every transfer ive made so far. Plus they have no trade fees.

Only switch to cryptsy when i need to trade coin coindup doesnt have or cryptsy's current trading prices are better cause they do have a huge selection.
Edited by Bluemustang - 2/20/14 at 2:04pm
    
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post #13326 of 22896
Quote:
Originally Posted by Outlawed View Post

I think you missed my point. It wasn't about gaming nor was it about maximizing profits. It was about the resale value of the hardware because as you put it yourself, there will always be something better. With AMD/Nvidia GPUs you will always have the possibility to resell since gamers aren't going anywhere. Sure you might only get 50% back in a saturated market if that happens. However if you have mining specific cards and it goes under or loses it's profitability, there's not much you can do.

That's one of the major conundrums with ASIC mining and why I linked it to it.

I suppose I did miss your point and I see it as a valid point and my counter point would still be to imagine what might be possible for a mining specific card in terms of efficiency of operation and possibly lower purchase cost due to not needing all the extra video output ports associated with gaming cards, for that matter, they could come in a video output model, like a master and a no video output model like a slave. Then I suppose it would be up to every person to make the right choice for themselves.
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post #13327 of 22896
Quote:
Originally Posted by Roulette Run View Post

Quote:
Originally Posted by Outlawed View Post

I think you missed my point. It wasn't about gaming nor was it about maximizing profits. It was about the resale value of the hardware because as you put it yourself, there will always be something better. With AMD/Nvidia GPUs you will always have the possibility to resell since gamers aren't going anywhere. Sure you might only get 50% back in a saturated market if that happens. However if you have mining specific cards and it goes under or loses it's profitability, there's not much you can do.

That's one of the major conundrums with ASIC mining and why I linked it to it.

I suppose I did miss your point and I see it as a valid point and my counter point would still be to imagine what might be possible for a mining specific card in terms of efficiency of operation and possibly lower purchase cost due to not needing all the extra video output ports associated with gaming cards, for that matter, they could come in a video output model, like a master and a no video output model like a slave. Then I suppose it would be up to every person to make the right choice for themselves.

I was a gamer before a miner, this would suit me just fine as long as it brought the price of actual graphics cards down. Paying 400 bones for a used card from 2012 is kind of wonky.
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post #13328 of 22896
Quote:
Originally Posted by Roulette Run View Post

I suppose I did miss your point and I see it as a valid point and my counter point would still be to imagine what might be possible for a mining specific card in terms of efficiency of operation and possibly lower purchase cost due to not needing all the extra video output ports associated with gaming cards, for that matter, they could come in a video output model, like a master and a no video output model like a slave. Then I suppose it would be up to every person to make the right choice for themselves.

I do see your point as well. At the same time it sounds more and more like you're describing ASIC hardware, like so.
Edited by Outlawed - 2/20/14 at 2:22pm
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post #13329 of 22896
Quote:
Originally Posted by Outlawed View Post

I do see your point as well. At the same time it sounds more and more like you're describing ASIC hardware, like so.

I guess it kinda would be, then it really comes down to why each individual is in the game and each would have to make their own decisions based upon what fits their needs. But for any of us to believe that this game is going to remain static and not be and ever evolving thing is to fool ourselves.
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post #13330 of 22896
Quote:
Originally Posted by Roulette Run View Post

I guess it kinda would be, then it really comes down to why each individual is in the game and each would have to make their own decisions based upon what fits their needs. But for any of us to believe that this game is going to remain static and not be and ever evolving thing is to fool ourselves.

agreed.
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