On 07/24/13 09:54, Ian Trump wrote:
We will see. it still may be a scam :) but if this thing can pay for
hydro in a month - cool scam.
Mining at home Ian? Given that current degree of profitability, that's a
good move as its quite the money printing machine right now. I'm
assuming this wasn't just a test run and that you're actually leaving it
running all the time somewhere?
If you do decide to co-locate at Skullspace and need a host machine, the
VM server has USB ports available and the device can even be passed
through to guests by our hypervisor, including Windows guests.
I'm assuming you're not wanting to ride the scam-train long and want to
trade earned BTC for CAD aggressively.
I'll volunteer to do some brokering/market-making on behalf of
Skullspace to minimize slippage and administrative hassle. You'll just
see CAD come out the other end from me and not have to worry about it.
Ian, you'll have to keep us posted on how much BTC you're accumulating
so we don't have to estimate it from todays date, hash rate and day to
day profitability -- perhaps you can post your wallet public address /
public key so we can see it roll in?
Between hackathons, any Skullspace member who wants to buy up to
whatever amount you have at a time can contact me for an in-person
buying appointment.
I'll sell BTC out of my own stash, then cut a cheque or deposit cash to
Skullspace to buy the exact same amount of BTC back and trust Ian to
make the BTC payment to me later -- so, by the end of that round trip I
end up back where I started in terms of my own BTC and CAD.
I declare that the exchange rate when I sell shall be whatever Bitpay
has posted for CAD at the moment I sell
https://bitpay.com/bitcoin-exchange-rates
These rates take multiple exchanges that are primarily USD/BTC into
consideration and use the bank of Canada posted USD/CAD exchange rate,
nothing else. Don't debate it, this is the colour of my bikeshed.
Why would anyone at Skullspace want to buy BTC? I'll let y'all talk to a
search engine for the really large vendor listing sites, and just point
out these areas of interest for Skullspace members:
* Reddit gold
http://blog.reddit.com/2013/02/new-gold-payment-options-bitcoin-and.html
* http://store.wordpress.com/
* Multiple VPS, VPN, and domain name registrars
* Winnipeg based, computer seller, WTCR does online orders with local
pickup in bitcoin http://www.wtcr.ca
* https://www.bitcoinstore.com/ in the US is known for pretty
aggressive pricing on electronics, check if they still take
international orders (I know they had to stop them for awhile...)
At the next two hackathon days (August 17, Sept 21) I'll step in as a
buyer of last resort and clear any remaining balance out. At 2pm, I'll
offer Skullspace the Bitpay rate minus 2% and we'll have (very) quick
live mini-market and see if anyone else present wants to outbid that.
The 2% won't be profit for me and I won't be keeping the bitcoins either
(I'm not interested in expanding my position), I'll be selling on the
open markets and 2% will cover transaction costs I'll incur to do so.
(can explain more details about my approach to anyone interested)
By appointment sales will be done with members only. I'll accept
cash-only from non-members who show up on the open hackathon days.
Other payment methods (Paypal, cheque, interact e-transfer) will be
offered to members only and for members I don't know as well I'll be
looking for proof of identity and address. For Paypal, all transaction
fees must be borne by payer, amount of BTC sold will be computed with
this in mind)
To get out of BTC more aggressively, you could see if someone wants to
hack something up to move your BTC to an exchange daily and sell for
USD/CAD there. Or, do this manually every few days. Then, to get such
funds off the exchange with minimal cost and without all kinds of BS,
sell them for BTC again on that exchange when the Jenkins brokerage
makes a deal for you.
Problem with that is, you're putting your faith in an exchange not to be
a scam. Do you trust the collective zealotry that provides underlying
price strength for the currency or do you trust an exchange operator?
Mark
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