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inkwell posted:
You're not getting the coins you are mining. You are contracting your processing power out to a bidder to do whatever they want with it (right now, likely mining). That guy is paying in Bitcoin. That is what you are being paid with, less Nicehash's cut. Someone is probably making more money with your hashing power than you are, maybe some idiots are making less, maybe someone is doing something illegal with your GPU and you may or may not be liable, who knows.
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Sep 4, 2017 13:53
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inkwell posted:It is an extremely nice little processor, going from a c2q to this was somewhat mindblowing. Anywho. its still gonna be a couple weeks before i can cash out and buy some burritos/steam games, not sure if i'll run it past then cause my SSD is right under the video card lol. hope its happy at 65 C all the time. (or at least for the next few weeks) I wonder if anybody bothered to benchmark mining on Ryzen cpus because truly, 75 cents at the time you posted is kind of nuts for a $170 cpu. That's about double the "equivalent" Intel that would otherwise be faster, but it must be the raw cores. But again I don't expect it to stick around, looks like its already going down
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Sep 4, 2017 19:55
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Yay my nicehash value broke $40. Later: Oh, it's back down to $39.  What a wild ride.
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Sep 5, 2017 00:36
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Lockback posted:You're not getting the coins you are mining. You are contracting your processing power out to a bidder to do whatever they want with it (right now, likely mining). That guy is paying in Bitcoin. That is what you are being paid with, less Nicehash's cut. Someone is probably making more money with your hashing power than you are, maybe some idiots are making less, maybe someone is doing something illegal with your GPU and you may or may not be liable, who knows. Wait im liable ?? 
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Sep 5, 2017 01:21
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Facebook Aunt posted:Yay my nicehash value broke $40. Later: Oh, it's back down to $39. Wait thats per day? :S
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Sep 5, 2017 01:49
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Surprise Giraffe posted:Wait thats per day? :S Nah, that's the total balance. I'm not crazy. Not crazy.
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Sep 5, 2017 02:01
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https://www.youtube.com/watch?v=y3dqhixzGVo
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Sep 5, 2017 02:31
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1gnoirents posted:Wait im liable ?? Maybe; if your hardware is just being used to mine altcoins for some true believer then there's nothing to worry about, but if it's for some Russian mobster trying to launder money by buying bitcoins and converting them into altcoins then you'd probably be liable for your role in that process I guess (although IANAL)
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Sep 5, 2017 02:43
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QuarkJets posted:Maybe; if your hardware is just being used to mine altcoins for some true believer then there's nothing to worry about, but if it's for some Russian mobster trying to launder money by buying bitcoins and converting them into altcoins then you'd probably be liable for your role in that process I guess (although IANAL) That sounds super unlikely to me, im also ANAL
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Sep 5, 2017 02:49
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there are many many people doing much worse that they will be working on catching first im sure
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Sep 5, 2017 03:36
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i mean if the feds want to come after me and waste our collective time over chump change, i suppose thats their business.
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Sep 5, 2017 03:36
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QuarkJets posted:Maybe; if your hardware is just being used to mine altcoins for some true believer then there's nothing to worry about, but if it's for some Russian mobster trying to launder money by buying bitcoins and converting them into altcoins then you'd probably be liable for your role in that process I guess (although IANAL) I guarantee somebody is laundering money through nicehash right this second that suddenly everybody on the planet just processed and no, nobody mining for nicehash would be liable.
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Sep 5, 2017 04:01
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1gnoirents posted:I guarantee somebody is laundering money through nicehash right this second that suddenly everybody on the planet just processed and no, nobody mining for nicehash would be liable. why not? wouldn't laundering money through nicehash be analagous to those scams that pay people to use their bank account or credit card to "exchange" cash for a fee?
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Sep 5, 2017 05:06
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QuarkJets posted:why not? Only if im able to compare a mined dollar to a US dollar that was previously used to beat children with. That is to say, they arent actually relatable. Can you think of any legitimate purpose for using somebody's bank account to exchange money for a fee? Now are those reasons comparable to mining currency? The only way anybody could be liable for mining buttcoins is if there was a legitimate reason that it could be little to nothing but nefarious, or if say there was an ongoing government investigation, towards for example Nicehash, and you continued anyway would tip the scales a bit. But the mere knowledge that the currency itself can be used for something illegal, since it is a currency after all, is pushing the fear a bit. It is a moral liability at worst
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Sep 5, 2017 05:22
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1gnoirents posted:Only if im able to compare a mined dollar to a US dollar that was previously used to beat children with. That is to say, they arent actually relatable. I don't think laws work that way For instance I don't think "oh I was just selling some processing time, I had no way of knowing that I was actually contributing to a DDOS" would be an effective defense in court. And I know for a fact that UPS was heavily fined a few years ago for unknowingly distributing darknet drugs so ignorance doesn't seem like an effective strategy even if what you're doing could normally be used for legitimate reasons (also lol there's nothing legitimate about cryptocurrency usage) QuarkJets fucked around with this message at 05:40 on Sep 5, 2017 |
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Sep 5, 2017 05:35
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nobody is going to sue nicehash users you dork.
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Sep 5, 2017 06:07
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wouldn't it be more like blockbuster but instead of vhs its your processing cycles?
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Sep 5, 2017 06:48
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can you elaborate? The blockbuster analogy doesn't make any sense to me like blockbuster spent time curating what movies it would offer and reserved the right to ban customers, but that's obviously not something that you'd do when running nicehash
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Sep 5, 2017 07:31
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Is it me or is Nicehash legacy v1.8.1.2 constantly switching to algorithms not mining anything like 1.8.1.1 does? I can't tell if my cards are doing anything, the bitcoin rate's dropped, or the algorithms this time just suck.
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Sep 5, 2017 08:17
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Everything dropped in value because China decided crypto is basically a ponzi scheme, they are not wrong.
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Sep 5, 2017 14:24
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QuarkJets posted:can you elaborate? The blockbuster analogy doesn't make any sense to me I think hes just pointing out that it'd be a stretch to sue blockbuster even if thats where the local VHS pirate is sourcing his masters. At least thats what i assume this analogy is.
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Sep 5, 2017 15:34
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Risky Bisquick posted:Everything dropped in value because China decided crypto is basically a ponzi scheme, they are not wrong. Good times are over! Sell sell sell! Panic, at the disco!
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Sep 5, 2017 16:16
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Risky Bisquick posted:Everything dropped in value because China decided crypto is basically a ponzi scheme, they are not wrong. I'm guessing one of two things will happen: 1. China are gonna start selling their miners overseas and cashing out ASAP. 2. This will be a bad phase for crypto for like a few months and it slowly goes back to normal
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Sep 5, 2017 16:36
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Just keep up to date with what Bitmain is up to for your Chinese bitcoin news
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Sep 5, 2017 16:43
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Junior Jr. posted:I'm guessing one of two things will happen: Why do you think either of these things will happen as a result of China banning ICOs?
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Sep 5, 2017 17:02
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I thought the price would go to poo poo but it barely dipped. Nobody understands bitcoins
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Sep 5, 2017 17:13
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no this means more scarcity in the market which is actually good because:
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Sep 5, 2017 17:14
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Saw someone say that if china banned bitcoin it wouldn't be a big deal cause they could just convert bitcoin to USD and then convert that to chinese fun money.
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Sep 5, 2017 17:18
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Why are these big dumb dumbs selling drugs for bitcoins and then exchanging for cash when they could just be setting up direct bank ACHs so much more easily???
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Sep 5, 2017 17:24
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BangersInMyKnickers posted:Why are these big dumb dumbs selling drugs for bitcoins and then exchanging for cash when they could just be setting up direct bank ACHs so much more easily??? They think bank ACHs are much easier for the feds to track than bitcoin transactions because they are big dumb dumbs
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Sep 5, 2017 17:41
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china didn't do anything about bitcoins, they banned ICOs which is good, and the US should too because every single one of them is a pump and dump. the price of btc hitting 5K has more to do with the selloff than anything else, and altcoins are still going up.
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Sep 5, 2017 18:27
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inkwell posted:I think hes just pointing out that it'd be a stretch to sue blockbuster even if thats where the local VHS pirate is sourcing his masters. At least thats what i assume this analogy is. Okay but that analogy only works if you could show up at a Blockbuster and be like "hey check out all of these fresh VHS releases of movies still in theaters they're totally legit promise  " and Blockbuster would buy them, and in those circumstances Blockbuster would definitely get sued
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Sep 5, 2017 23:13
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still lolling at btc over here
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Sep 5, 2017 23:36
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QuarkJets posted:wouldn't laundering money through nicehash be analagous to those scams that pay people to use their bank account or credit card to "exchange" cash for a fee? when has anyone ever sued a victim of one of those scams for conspiracy to launder money? not saying you couldn't, but why would you?
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Sep 5, 2017 23:38
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Don Lapre posted:Saw someone say that if china banned bitcoin it wouldn't be a big deal cause they could just convert bitcoin to USD and then convert that to chinese fun money. the point of bitcoin in China is to get the money out of china and into USD. They wont be converting back into yuan. They will be living it up in a condo in vancouver. That person is dumb
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Sep 6, 2017 00:00
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The only way someone running Nicehash would get sued/arrested was if they could prove beyond a reasonable doubt that you knew you were laundering money for illegal goods and services. And really the only way for that to happen would be if Nicehash had huge banners all across their site saying 'Hey child pornographers use us to launder your bitcoins!'
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Sep 6, 2017 00:02
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Dr. Fishopolis posted:when has anyone ever sued a victim of one of those scams for conspiracy to launder money? not saying you couldn't, but why would you? Being a victim of these scams does not make you immune from prosecution; often these victims face fines and jail time even when they are completely unaware of what they've fallen for, since the scammers often pose as legitimate employers https://en.wikipedia.org/wiki/Money_mule QuarkJets fucked around with this message at 00:07 on Sep 6, 2017 |
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Sep 6, 2017 00:04
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Dr. Fishopolis posted:when has anyone ever sued a victim of one of those scams for conspiracy to launder money? not saying you couldn't, but why would you? The US charged coin.mx with money laundering in 2015 for selling bitcoins to victims of ransomware, because that money would then go to criminals. Of course this was part of a laundry list of charges, and I don't know if they were done for that specific one.
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Sep 6, 2017 00:11
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QuarkJets posted:Being a victim of these scams does not make you immune from prosecution; often these victims face fines and jail time even when they are completely unaware of what they've fallen for, since the scammers often pose as legitimate employers I know what a money mule is. I asked you when this has ever happened. More specifically, which of the 50-100,000 active miners on Nicehash would be sued, by whom, and why?
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Sep 6, 2017 00:11
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Dr. Fishopolis posted:I know what a money mule is. I asked you when this has ever happened. Are you asking whether money mules ever get prosecuted, or whether money mules using Nicehash have ever been prosecuted? The answer to the first one is "yes", to the second one is "not yet, as far as I know"
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Sep 6, 2017 00:21
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