Are you going to publish a statement regarding the Labcoin warning, burnside?
Dispite the underlying reasoning for the warning, it's obvious that it had an immediat impact on the market. I suggest to implement clearer rules for stuff like this - maybe something like "if vote ratio changes to (...), a warning is published on the security". This makes it more predictable and minimizes arbitrariness.
Agreed. Just publishing such a warning seems very unprofessional, although your reasons may be good. Disagree. Labcoin posted a news item 11 days ago that prompted a lot of buying. Time has proven that news item to be misleading...and that's being kind. Despite this, labcoin has released nothing official to clarify their statements. This obviously puts the exchange operator in a tough spot. |
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Well, seems that BM has found it's "all-time-low" price (>post-IPO). Time to wake up the market and grow again  Hi AngelSky. Finding more hashes is easy...finding more hashes that have a good chance of providing a positive ROI in this environment is a significant challenge. Keeping your wallet closed in an environment in which mining hardware has been rapidly depreciating has proven the right course of action in the past. Naturally I'm on the lookout for the rare opportunity to grow our hashrate if the associated risk is acceptable. I view our 800Gh bitfury order as just such an opportunity. If you look at FCTaiChi's excellent chart located here http://decentralizedhashing.com/bitcoin-mining-equipment-table/ bitfury for October delivery stands alone as the only non-vaporware product with a projected positive ROI across the board. Cheers. |
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do we have the information when will BitFury US start delivering october units? Or if there is some further delay in delivering august units? Could creativex find out with PM? Hi JimiQ84. Last public guidance from buzzdave indicated end of October for delivery. I believe he also made a public post indicating that the last of the August deliveries had shipped, but I'd have to confirm. It seems safe to say that megabigpower & bitfurystrikesback have raised the, admittedly low, bar on ASIC equipment vendors meeting expectations. I've been negotiating bulk rates with a few of the respectable DIY vendors that have working designs based on the bitfury chip, but I'll not commit to anything that doesn't give us a positive projected ROI. Cheers. |
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Actually they have been keeping their word recently posted update friday on time, posted address on wenesday, within 12 hours much earlier they signed it and hashed on Slush's pool.
If we go by their recent history they are keeping their words.
dude, seriously, don't even try that bullshit: The website will be updated this week in order to show our live hashing rate
We're mining in solo mode but live hashrate will be shown on our website next week.
we will deploy the same mechanism ASICMINER uses for signing found blocks and publish them on our website.
We will post board picture and more within the weekend, and as soon as we reach 10 TH of deployed hardware block labeling will be mirrored on the site with other stats like speed, etc.
We promise pictures of some boards mining will be up for this weekend.
We do not have 10 TH of chips out of nowhere, we said that we will setup block labeling as soon as we reach that speed, which could be on the first days of october, so in "about" two weeks, or mid october.
The next update will include a mining address as well. Next proof to be posted will be mining address, clearly showing the rate of blocks creation.
Mining address will be posted publicly before Wednesday. This will allow transparent monitoring of the hashing rate and block generation.
First dividend payment is due on tuesday 17 September
We haven't failed to deliver, the fact that we aren't posting more pictures isn't proof that we are not mining. We are indeed mining but there are issues to solved before we get to labeling blocks, as we said.
Dividend day was previously miscalculated, i apologize, expect the first payment on Tue 24/9 and mining address proof in less than 24 hours as promised.
Of course anyone can create and sign an address, I do not expect this to do anything until the point that mining starts. Ouch. That sting you die hard cheerleaders are feeling is reality smacking you in the chops. These guys have been burning trust ever since they said they'd lock their shares and failed to do so. The situation has never improved. |
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But the price makes it prohibitive unfortunately! How so? I'd like it cheaper obviously, but it's actually confirmed working and therefore a better bet to ship on time next month. The cost difference between a bitfury 400Gh rig ordered today and a knc jupiter ordered months ago is negligible, though I realize EU & US prices may differ. I'm looking at a possible knc order for November delivery depending on how they handle shipping. If they knock it out the park like bitfury did then it'll be a viable alternative. |
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Would be nice to know will there be more distributors in addition to cryptx?
Yes we can! creativex you should've contacted burnin faster than this, i'm sure he is a reasonable guy. I did. As did others. 18 days ago. Crickets. Pretty much. Its not just that hes so buisy... its just without people like us he would have to do even more work. BTC Creativex I admire the way you run your fund and would defiantly give you my vote to US distribute. Thanks bobsag3. We're going the bitfury route one way or another as it's the best chip out there atm. I like burnin's work and would like to help make it more accessible, but it's not competitive with the currently available vendor markup. |
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Would be nice to know will there be more distributors in addition to cryptx?
Yes we can! creativex you should've contacted burnin faster than this, i'm sure he is a reasonable guy. I did. As did others. 18 days ago. Crickets. |
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We might speak about that list in 1-2 months again. I'm sure you wont be able to admit your blunders and I don't really care. All i can say is I don't give a damn about the shareprice but see LOTS of suspicious actions happening over @ labcoin. They need 7k BTC and are not even up to compete with basic mining in hashrate. Bloody amateurs if you ask me. Call me a shill but we will have a talk about this in the near future.  |
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I get the feeling BFL is having assembly issues and not chip-shortage issues. Actually they're having honesty shortages and integrity issues. |
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...and he's gone without answering again.  Sounds like cryptx = exclusivity. Unfortunate as the product and developer are worthy of patronage, but the chosen vendor is not. Dustbin of history...you have another entry it seems. |
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Amateur...pro who cares. The bitfury chip is better than anything else out there at this time. This fact is not likely to change next month btw.
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Looks great burnin.
Are you looking for US vendors?
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Yeah we'll be "moderated" soon and the "correct" message will be the only one remaining in this thread. A tactic all too common here on bitcointalk.org.
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Bfl's image of incompetence has been carefully cultivated and serves as great cover for their massive theft. |
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I read the Custom hardware forum daily and i'm impressed how new people who never post here come and praise the VMC company only with language skills and zero technical stuff. The company may be legit, but this fact along with the self-moderated topics seems very very fishy to me. They're ActM shareholders that believe it's in their self interest to pimp for ken as they believe he'll toss them a few satoshis when he gets his paycheck from VMC's lackluster pre-orders. |
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Unfortunately, BFL crooks have unequivocally showed us that Bitcoin is not the right currency for commerce. Actually I think bfl has demonstrated to us that pre-orders are a huge risk and that crooks steal from people. Blaming the method of payment doesn't make any sense. CC chargebacks and paypal clawing money back from allegedly non-compliant sellers is great if you wish to encourage people to act like lemmings. Everyone pays for this "insurance" policy in the form of higher fiat transaction costs. Sure it's fun to say as a buyer that PP roxxors, but when you're a seller and scammers are using paypal to receive both the goods AND steal back the agreed upon compensation it's not so great anymore. Bitcoin removes these shenanigans by putting the risk firmly where it belonged in the first place. People need to take responsibility for their own reckless decisions. |
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These 80% increases month on month are not sustainable. We're seeing a lot of hash soon, so that makes sense, but by the time we get into 2014, it's going to ease. Many older miners will become unprofitable and get switched off. And because you're talking about a compounding of hash every month, you would need to ship almost double the amount of miners month on month. So that's like saying everyone will ship 10,000 miners in October, 20,000 in November, 40,000 in December, 80,000 in January, 160,000 in February... The mining market can't sustain that. If it can, the value of Bitcoin is going to skyrocket as people convert a ton of cash to buy these miners.
So a lot of these purchases are going to do better than this long term forecasts predict (Although there is always risk)
Not to say BFL is a wise choice to invest in. There is no value in putting your cash into this until its online and you know what your ROI will really be at the time you make a purchase. Same with any other service or offering. Since BFL has a no refund policy, you take a greater risk on losing your money completely than other vendors. While I agree that these increases are unsustainable long term, opaque and dishonest vendors such as bfl taking pre-order funds on the backs of people's ignorance will ensure that this mess can continue longer than it otherwise would. People are just now figuring out what a horrendous decision pre-ordering hardware months in advance is. Naturally Hashfast, CoinTerra, knc, etc...already have petahashes of paid gear in the pipeline. Dumb money will ensure that everyone in mining takes a haircut before rationality becomes more widespread. |
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Jeez, what a bunch of sheeple. News flash: Avalon showed pictures of chips and even shipped a bunch of ASICs to customers in Batch 1, AND THEY STILL SCAMMED US. My Batch 3 Avalon mining farm is currently showing it will lose about 250 BTC. Yea, not only will we not break even, but we're likely going to lose $35,000..... BFLs got a ton of pictures of chips and mining equipment, and they're still scamming people left and right. "Our shipping queue will be fully shipped by the end of September." ... Yeah, right... and pigs can fly. ASICMINER has many pictures of their chips, and they are quasi-scamming people straight to their face with their price gauging. They sell overpriced equipment that will never break even to idiots and the non informed. I admit ASICMINER is probably the lesser of the three evil ASIC companies, but you get my point. A picture of a chip means nothing until it is a working product delivered to our doorstep. There are many things left to do before that can become a reality. I wouldn't claim victory just yet. The level to which people get emotionally invested in these chunks of rapidly depreciating silicon is startling. Likely more of a process of justifying a questionable past decision. Good on knc for getting to this point, but bitfury is doing lots of damage NOW. Knc is obviously aware of this as they've dropped prices significantly for November delivery, but that'll be of little benefit to those that receive their knc orders in mid to late October. Pre-ordering knc products months ago was surely a mistake. |
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They've surely been competing with their customers for some time. Without that motive their actions never made sense.
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I feel even worse for those who ordered Monarchs and didn't know they were behind the cloud hosting in priority. Sadly, many of those people are just sc product line investors that saw the writing on the wall and turned in their failed 65nm order for the next waiting list at bfl. Now bfl is screwing them again. |
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