Howto mine PotCoin on Windows

[Special Branch]

yes i agree with your banks statement, had my own bank pay me 3 'goodwill gestures' so far in the past 2 yrs so i kinda know the script.. they also sell your personal details/tangibles to 3rd party companies in the pursuit of profit..

The thing with me is really i need to see something set in stone first, you seem like a highly intelligent guy and fairplay, hard work and your time...

[suremine]

not sure about intelligent, after the weekend I just had I feel far from intelligent :-)

I am 100% with you, if your not confident wait till you see something set in stone.

I suppose all I am trying to do is use my spare time to better myself, I have done the whole corporate thing and its horrible, now if I have any spare time I try to devote it to something that's going to better me and my family. And for me that's anything geeky
If you have skills in another area and have spare time devote it to something that's going to better yourself.

[suremine]

Can you convert these to 'real' money that you can use to buy things then? Whats the exchange rate at the mo?

The easiest way to trade is to buy bitcoins and then to and from bitcoins,

If you want to look at the market for pot: https://www.cryptsy.com/markets/view/173

[BountyHunter420]

I wonder if the exchange of goods or services from direct personal labour will ever be accomplished (or even catch on) in this country without a middleman?

Is there anything more scary to the middle classes than the working class working together?

Also can any crypto currency sustain itself without a computer or electricity? If not how can such accumulated wealth be "backed up" in an emergency?

[suremine]

I wonder if the exchange of goods or services from direct personal labour will ever be accomplished (or even catch on) in this country without a middleman?

Is there anything more scary to the middle classes than the working class working together?

Also can any crypto currency sustain itself without a computer or electricity? If not how can such accumulated wealth be "backed up" in an emergency?

Isn't the middleman just another person offering a service and taking there cut? I would love a system like that to be in place but I am not sure it could work, I dont know how would you value someones time against another.

Personally I never think about the class, I just concentrate on my problems and the problems around me, I find it too easy to start blaming other people when we are grouped. There are both rich and poor people exploiting the system, I think they are as bad as one another.

I am not sure we would survive without computes or electricity, if the banks had there power cut all financial transactions would stop, they could run on diesel for a short period but that will stop, it would all go madmax quite quickly, that's me being all pessimistic :-)
If your house was to loose power you would still be able to access your wallet once power was restored the wallet lives on your hard disk so you can recover it ...... if you want an additional level of security back your wallet up to cloud storage, and encrypt it with something like truecrypt.

[Anonymiss]

I wonder if the exchange of goods or services from direct personal labour will ever be accomplished (or even catch on) in this country without a middleman?

That's what we used to do, but it's impractical on a large scale and so we ended up with money.

Consider this example: Anne grows apples, Bob grows beets, and Claire grows carrots.

Now, if Anne wants beets and Bob wants apples they can trade. But if Anne wants carrots and Claire wants beets there is a problem. Anne has to go to Bob and exchange some carrots for beets, which she can then trade with Claire.

That sort of thing can get complicated very quickly. I can't even start trying to work out how we'd invent and make things like computers without some medium of exchange.

So, we came up with the idea of tokens instead. These tokens need have no intrinsic 'value' in themselves as long as they are universally-accepted and hard to forge. Gold, for instance, has no real 'value' as such to most people (what would they use it for?) and derives its perceived worth it from its rarity (plus, it's pretty!).

Be aware though that there are middlemen in the cryptocurrency world — Those middlemen are the 'miners' who receive a fee for every transaction they process.

Now, because mining coins is heavily dependent on hardware those who have the fastest hardware will probably generate the largest number of blocks (transaction records) and so they will receive the bulk of the transaction fees.

So, if someone can afford some high-spec hardware they stand a lot more chance of making money than someone who has mainstream kit. In the Bitcoin world this has gone to extremes, where companies are building expensive, dedicated mining hardware and selling it on, sometimes for several thousand dollars. There's at least one company (cex.io) with racks of kit that they rent out to miners.

So, all these claims that cryptocurrencies are somehow more democratic and don't make money for some 'elite' somewhere seems a bit disingenuous to me.

Also can any crypto currency sustain itself without a computer or electricity?

No.

If not how can such accumulated wealth be "backed up" in an emergency?

The entire 'system' (i.e. a record of every transaction) is stored in the blockchain, and everyone has a copy.

Individual wallets, which store users' addresses and keys, are stored locally and should be backed up regularly.

[stink!]

I suppose all I am trying to do is use my spare time to better myself, I have done the whole corporate thing and its horrible, now if I have any spare time I try to devote it to something that's going to better me and my family. And for me that's anything geeky
If you have skills in another area and have spare time devote it to something that's going to better yourself.

Why dont you just learn how to read trading charts and trade forex? I understand that digital currencies are new so they do grab your attention but if your looking to make money trading it you can do just as well with all the already recognized currencies around the world.

[BountyHunter420]

Isn't the middleman just another person offering a service and taking there cut? I would love a system like that to be in place but I am not sure it could work, I dont know how would you value someones time against another.

Personally I never think about the class, I just concentrate on my problems and the problems around me, I find it too easy to start blaming other people when we are grouped. There are both rich and poor people exploiting the system, I think they are as bad as one another.

I am not sure we would survive without computes or electricity, if the banks had there power cut all financial transactions would stop, they could run on diesel for a short period but that will stop, it would all go madmax quite quickly, that's me being all pessimistic :-)
If your house was to loose power you would still be able to access your wallet once power was restored the wallet lives on your hard disk so you can recover it ...... if you want an additional level of security back your wallet up to cloud storage, and encrypt it with something like truecrypt.

I wasn't blaming anyone mate, its defining my point which relates to the obvious class system in place, which is why I used the terms middle and working class, I don't think having lots of money is a bad thing as opposed to what you do with it or what your intentions are for procuring it in the first place, as it will always will always fall into one of two categories, good or bad.

How I see it is if one person can live without electricity or bitcoins then two people can, if two can then ten can, if ten can then a thousand can....ans so on, so your not being pessimistic mate, its an honest interpretation of how you see it.

I cannot help feel that using crypto currency will inevitably need to rely on the "other" companies who may have a different intention on making money or in fact be better well positioned to control the whole affair (like the crypto crew eventually seeking to buy out the companies they must do business to exist and so have let a certain level of restriction or power of influence over them by doing so) which is unavoidable.

The most powerful currency I will always have is my ability to provide a service for someone while I provide for myself.

Another way to see where we are, at present, to even be discussing crypto currencies would be to take an honest look at how many people consume food, buy goods or require services but themselves are in a middle man position where they produce nothing, which should give a principle reflection of the kind of economics we are looking at.

This is why I cannot blame anyone really, working class or middle class, as both are "used" as a means to gain and hold onto power from a much higher class, a bit like a giant pyramid scheme.

[BountyHunter420]

That's what we used to do, but it's impractical on a large scale and so we ended up with money.

Consider this example: Anne grows apples, Bob grows beets, and Claire grows carrots.

Now, if Anne wants beets and Bob wants apples they can trade. But if Anne wants carrots and Claire wants beets there is a problem. Anne has to go to Bob and exchange some carrots for beets, which she can then trade with Claire.

Good analogy.
Born out of Anne's, Bob's & Claire's exclusivity to monoculture perhaps through educational knowledge or land limitations.

What are the impracticalities for a large population?
The answer might be evidenced by looking at how a population "can" be developed far beyond the numbers that could be supported without help from the third world farmer.

Being unfairly made landless in the UK might be one stumbling block, or living in a city that automatically depends on middleman convenience due to land being built upon in such a way as to accommodate numbers far greater than if self sufficiency was adopted.

*With no intention of derailing the OP thread I just wanted to reply out of politeness to anonymiss

[suremine]

Why dont you just learn how to read trading charts and trade forex? I understand that digital currencies are new so they do grab your attention but if your looking to make money trading it you can do just as well with all the already recognized currencies around the world.

The good thing about Crypto Currencies is I don't have to invest money, I am creating the coins by mining using the equipment I already have. If I ever find any spare cash it will go on trying to get my mortgage down.

A couple of years back I worked on some finance projects, have been involved with the quant world Monte Carlo simulations as well as high frequency trading, fascinating stuff but if I wanted to get into trading I have first hand knowledge odd's are already stacked against me as the Banks have the horsepower.
There are still many many ways to make money out of trading, but for me its the geeky side of things that appeals and I am way too small to be profitable.