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Topic: Bitcoin Savings & Trust - Money Returned List (One reported - CLOSED). - page 2. (Read 67069 times)

hero member
Activity: 504
Merit: 500
I'm curious what people think the use of hashing power is though. As noted already if was anything but bitcoin then miners would have to use something other than cgminer ect. which does work on gpumax afaik. The whole "we figured it out because we're smart and you're dumb" is getting old.

Most likely is just a way to mint untraceable coins to pay for that ticket to Bermuda at noon. But it could be as simple and innocent as clever pool hoping. Most pool have fixed this so growth as this point seems odd though.

Most of it was used previously to pool hop. Or atleast that's what I would have imagined as the market for clean coins was low. Atleast one miner had detailed their use of it for hoping in the gpumax thread if anyone is really curious, go spend some time reading through that thread.

The intended purpose of the GPUMax service is to provide clean coins at a price. Or atleast thats really its most useful feature. And its not something thats been a secret. So it makes no sense for everyone to act like they just stumbled on this super hidden use for it.

As far as 51% with it, not possible with the hash power there. The last time GPUmax exposed its hashing power a month or so back, it had roughly 1TH total capacity at the time.
sr. member
Activity: 252
Merit: 250
But the people who say it are all highly suspect. Matthew for example has admitted little technical knowledge of bitcoin or mining but he has figured out something developers cannot. Also all of the people who have figured it out of course will never start a competing business themselves. So every single person that has figured out what gpumax and bs&t does have no interest in profit themselves. Makes a lot of sense. The other fascinating thing is everyone that has figured these things out have direct financinal incentive for bs&t to be legit while naysayers have nothing to gain.
hero member
Activity: 504
Merit: 500
"we figured it out because we're smart and you're dumb" is getting old.
Any sort of knowledge that leads to profit will very rarely be shared freely, the more people milking profit the less profit each person gets for the same work
sr. member
Activity: 252
Merit: 250
Or owner of GPUMAX could use it to >50% attack network, to return some of their debts, but mainly for fun.  or even a threat of possibility of attack could lower price just enough, for knowing party to purchase BTC, for profit.

This isn't really possible since the second anyone noticed this happening they just point their workers another direction and he'd lose majority. Miners aren't going to mine themselves out of existence.

I'm curious what people think the use of hashing power is though. As noted already if was anything but bitcoin then miners would ahve to use something other than cgminer ect. which does work on gpumax afaik. The whole "we figured it out because we're smart and you're dumb" is getting old.

Most likely is just a way to mint untraceable coins to pay for that ticket to Bermuda at noon. But it could be as simple and innocent as clever pool hoping. Most pool have fixed this so growth as this point seems odd though.
member
Activity: 76
Merit: 10
Or owner of GPUMAX could use it to >50% attack network, to return some of their debts, but mainly for fun.  or even a threat of possibility of attack could lower price just enough, for knowing party to purchase BTC, for profit.
hero member
Activity: 504
Merit: 500
GPUMAX rips the wings off of fairies to process into pony food.
legendary
Activity: 1855
Merit: 1016
I just got my invite to gpumax yesterday.  I spent all night getting things setup.

Then I started to wonder what the real benefit of the site was and had a hard time figuring it out. I can manage my miners just as easy without it.  And the only reason I could figure for people buying shares would be to test out a new pool (can't be many of those) or to gamble on a pool getting lucky. It didn't seem like enough to sustain the site.  So I started to read up on the man at the top.

I thought the same, until I racked my brains and thought of a really cool occasional use of the hashpower.  Not sure if that's what pirate's customers are using it for, but there's a good chance.

Think hard and you might come up with a reason for its existence too.
GPUmax can be used as a centralized server or node or anything, to control Bitcoin, if 51% attacks happen by anyone.
newbie
Activity: 19
Merit: 0
While hash power may have uses outside Bitcoin(+altchains), existing miners wouldn't be able to do that without significant changes to the software. In particular password cracking wouldn't work. Considering the value of altchains, it's extremely unlikely that the hashpower is used for anything but bitcoin mining.

I see no way to make additional money in mining(pool hopping gain is likely too small), so the only application I can see is money laundering, where somebody pays a premium to exchange his dirty coins for freshly mined ones. So I think GPUMAX is used to launder money.
sr. member
Activity: 336
Merit: 250
I just got my invite to gpumax yesterday.  I spent all night getting things setup.

Then I started to wonder what the real benefit of the site was and had a hard time figuring it out. I can manage my miners just as easy without it.  And the only reason I could figure for people buying shares would be to test out a new pool (can't be many of those) or to gamble on a pool getting lucky. It didn't seem like enough to sustain the site.  So I started to read up on the man at the top.

I thought the same, until I racked my brains and thought of a really cool occasional use of the hashpower.  Not sure if that's what pirate's customers are using it for, but there's a good chance.

Think hard and you might come up with a reason for its existence too.
I've not tried making a purchase yet - do they start instantly if public work is currently underway (ie, somebody at GPUMax is there to start it  Tongue)?
hero member
Activity: 532
Merit: 500
FIAT LIBERTAS RVAT CAELVM
I just got my invite to gpumax yesterday.  I spent all night getting things setup.

Then I started to wonder what the real benefit of the site was and had a hard time figuring it out. I can manage my miners just as easy without it.  And the only reason I could figure for people buying shares would be to test out a new pool (can't be many of those) or to gamble on a pool getting lucky. It didn't seem like enough to sustain the site.  So I started to read up on the man at the top.

I thought the same, until I racked my brains and thought of a really cool occasional use of the hashpower.  Not sure if that's what pirate's customers are using it for, but there's a good chance.

Think hard and you might come up with a reason for its existence too.

Cracking passwords for the CIA?
hero member
Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
I just got my invite to gpumax yesterday.  I spent all night getting things setup.

Then I started to wonder what the real benefit of the site was and had a hard time figuring it out. I can manage my miners just as easy without it.  And the only reason I could figure for people buying shares would be to test out a new pool (can't be many of those) or to gamble on a pool getting lucky. It didn't seem like enough to sustain the site.  So I started to read up on the man at the top.

I thought the same, until I racked my brains and thought of a really cool occasional use of the hashpower.  Not sure if that's what pirate's customers are using it for, but there's a good chance.

Think hard and you might come up with a reason for its existence too.

Shhhhh. Let them be smug in their accusations a little bit longer.  Grin
donator
Activity: 668
Merit: 500
I just got my invite to gpumax yesterday.  I spent all night getting things setup.

Then I started to wonder what the real benefit of the site was and had a hard time figuring it out. I can manage my miners just as easy without it.  And the only reason I could figure for people buying shares would be to test out a new pool (can't be many of those) or to gamble on a pool getting lucky. It didn't seem like enough to sustain the site.  So I started to read up on the man at the top.

I thought the same, until I racked my brains and thought of a really cool occasional use of the hashpower.  Not sure if that's what pirate's customers are using it for, but there's a good chance.

Think hard and you might come up with a reason for its existence too.
sr. member
Activity: 336
Merit: 250
Pirate just made a 642 BTC payment to GPUMAX customers.  5.366441 BTC of that was to me.

His last payment was only 196 BTC.  So he has trippled the activity of GPUMAX.

Maybe GPUMAX is in some way helping him come up with his lenders bitcoins.  As of now he has not skipped town.
It's worth noting that a bunch of invites just went out, so there's likely a bunch of people with new accounts test-buying public work.
Also, according to the business registration Pirate isn't the only one involved in GPUMAX.
And finally, 642 BTC is totally trivial when you're supposed to be paying out over 5000 BTC per day just in interest  Cheesy
hero member
Activity: 490
Merit: 500
the timing was definitely noteworthy...
sr. member
Activity: 451
Merit: 250
Pirate just made a 642 BTC payment to GPUMAX customers.  5.366441 BTC of that was to me.

His last payment was only 196 BTC.  So he has trippled the activity of GPUMAX.

Maybe GPUMAX is in some way helping him come up with his lenders bitcoins.  As of now he has not skipped town.
legendary
Activity: 1316
Merit: 1000
Si vis pacem, para bellum


then I started reading up on bs&t...

and Im starting to feel used.

are you going to tell us the conclusion of your research or do we have to guess ?
hero member
Activity: 490
Merit: 500
I just got my invite to gpumax yesterday.  I spent all night getting things setup.

Then I started to wonder what the real benefit of the site was and had a hard time figuring it out. I can manage my miners just as easy without it.  And the only reason I could figure for people buying shares would be to test out a new pool (can't be many of those) or to gamble on a pool getting lucky. It didn't seem like enough to sustain the site.  So I started to read up on the man at the top.

First thing I noticed, was that when gpumax first started he was all over the place.  Answering questions all the time, posting every day all day.  And in the last month, nothing. 

I got curious and dug deeper.  Found a post that said he wouldn't be taking any more new users for gpumax until September, which made me wonder why I was even invited in the first place.

then I started reading up on bs&t...

and Im starting to feel used.
full member
Activity: 186
Merit: 100
pirate did say he has paid 11 and i have no reason to not believe him, hence my post. I do not intend to bother posting 'proof', sorry.

ROFL. 

I mean, who needs proof these days?! 

Im sure some people believe me, i dont need to provide proof to them.

on a serious note, i just cannot be bothered Smiley
hero member
Activity: 588
Merit: 500
Hero VIP ultra official trusted super staff puppet
We do need a list. It's imperative, not just for public interest, but to prove the bets that are currently going. Is there a spreadsheet available?

How do you plan on proving pirate paid, when some random jack ass claims he didn't pay him?

-I- don't prove that, Pirate does.
hero member
Activity: 778
Merit: 1002
We do need a list. It's imperative, not just for public interest, but to prove the bets that are currently going. Is there a spreadsheet available?

How do you plan on proving pirate paid, when some random jack ass claims he didn't pay him?
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