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mircea_popescu: thestringpuller actually s.dice looks set to make 5ish % this month
mircea_popescu: i guess today i learned how you spell insanity in chinese.
mircea_popescu: just like a Chinese network catchword: we are all fighting without pants. (我们都已经脱了裤子干了)
mircea_popescu: no one use MPW this time. include us, BFL ,bASIC, asicminer, etc.
mircea_popescu: so they buy diff before they deliver cause thye know they will ?
mircea_popescu: hopefully mining market matures soon and we can move to a saner method
mircea_popescu: jurov it's a little kludgy, but i see no other way to do it.
mircea_popescu: Also unlike other futures contracts X.IDIFF.* are not subject to an insurance fee. Consequently, in the event of a net seller's deposited collateral being exceded by current difficulty a proportional number of open contracts will be forcibly liquidated.
mircea_popescu: Let's assume Tom sold 1000 units, that's give or take 50TH/s,
mircea_popescu: gotta give it to them : they won' be around in 2-3 of those so. their mark must be left in a week preferably.
mircea_popescu: Hello everyone, my name is Yifu. Despise my fairly-lengthy involvement with Bitcoin, most of you do not know me.
mircea_popescu: i guess she's run out of old trolls to bite the heads off
mircea_popescu: -pr is making it her life mission to skewer btctalk noobies it seems
mircea_popescu: i don't need 37 to succeed and i specifically do not need some nobody giving it to me.
mircea_popescu: Each successful applicant will receive $37. This will cover the cost of six months of hosting at prgmr.com and a productivity-enhancing hot beverage.
mircea_popescu: you could get 1mn% in a few hours with enough power added
mircea_popescu: the problem is that as hash output increases the 2k blocks go by faster, so the 400% is not related to time
mircea_popescu: as diff goes up you make less from mining but some money from the future
mircea_popescu: case B : you buy 900 BTC worth of mining gear and 100 btc worth of diff futures
mircea_popescu: look, it's really simple. you have 1k btc, want to mine. case A : you buy mining gear worth 1k btc. mine. as diff goes up you make less btc from mining
mircea_popescu: no, whoever is mining wants to insure against diff going up
mircea_popescu: thus it helps to have a supply of already bought virtual diff
mircea_popescu: when you are mining you are taking virtual diff and turning it into real diff.
mircea_popescu: abracadabra looks to buy more gpus <<< prolly a safer investment
mircea_popescu: smickles tbh i always thought miner wants to buy diff nto sell it.
mircea_popescu: seems my 1btc/gh/month was under smickles. not .3 but 3.