antminer is at 1.9 btc for 190GH(after easy OC), that's exactly 0.01 BTC/GH.   cointerra is 2000GH for $6000 or 6.6BTC, that's ~ 0.0033BTC.  So the very first shipments from cointerra will have a 3X discount to the current market price.

However given the fact china has started massive dumping of the antminer and 200GH avalon miners (with price quoted at 1.5 btc for 2/1 shipment), the gap is getting very narrow, i have a feeling the late orders will not be happy with the ROI unless cointerra provide additional hash to those customers.  

ah crap i am already getting billed by amazon for I/O charges and i am only at the 9M difficulty level, this may not be such a bright idea after all, probably just going to stick with regular dedicated vps for 20 bucks a month


EBS
$0.00 for the first 2 million I/O requests under monthly free tier   2,000,000 IOs(used)   $0.00(charge)
$0.10 per 1 million I/O requests   2,393,049 IOs(used)   $0.24(charge)
Total:   $0.24

Thanks guys, Kosta do you know the approx disk space requirement after bitcoind is synced up?

I get 30 gb ebs for free, so unmounted the default 8gb and created a new 21 gb mount to use for bitcoind, hope that is enough space.

This to me is one of the biggest shortfalls of bitcoin as time goes on, imagine 30 years from now and when bitcoin actually becomes popular, you almost need to buy hardware with all the blocks preloaded otherwise no retail users can ever catch up.

Please report the auction in question by clicking the report item link, if enough people do it ebay will put a stop to it.

fyi just so you know, selling on ebay is very dangerous same as russian roulette. Don't be fooled by all those sold auctions at high prices, i would say only <50% of those sold are actually successful.  If you are lucky you get a nonpayment, if you are not, you get a scammer, ebay/paypal always side with the buyer. I have had this happen to me twice already 1 for an asic miner card back when it was going for $4000, and another for an avalon.

I have been selling on ebay for over 15 years and know every trick in the book, but there is nothing you can do if you want to sell, just rolling the dice. Both scammers had high feedback rating and looked very legit, they just break something on the miner after a month like bending some metal or cooling fan wires, take a photo and file for claim or direct chargeback within 45 days. They then change their ebay id after a month or so, and since ebay doesn't allow you to search their id history (without knowing their new id) nor leave anything but positive feedbacks as seller, they cannot be blacklisted, and move on to the next victim with their perfect feedback.

There is nothing you can do but take the loss,  that's why i have stopped selling on ebay altogether.  

So make sure you factor that into your calculation the expectation of losing at least 1 miner out of that 6.  In addition to the risk of paypal limiting your account that will take months to get your money out (if it is under your name, if it's a stealth account kiss your money good bye), nothing gets your paypal account limited faster than selling multiple bitcoin hardware / casascius coins that's above $500.  Add insult, they take 10% in final value fee for everything you sell.

just saying...

thanks! looks like by default it is already running on EBS, it auto mounted 8 GB of space from EBS when the EC2 instance was created. Now just waiting for the block chain to catch up.

It is taking forever and already used up 3GB of space.   

I wonder if this will be the major flaw of bitcoins, say 20 years from now, how the heck on earth will any new client able to catch up, it will take weeks and tons of space.

Hi guys, total newbie to amazon's AWS EC2 instances, but am very familiar with linux. Have some questions if anyone can help, thanks!

I have setup a micro EC2 instance using amazon's free trial offer (installed amazon's ami linux), downloaded and have bitcoind running on the server. I can see in the log it's syncing up.  Here are my questions:

1) From my understanding, EC2 instance is not perm, as soon as it shuts down everything is wiped. Which means as soon as it shuts down all the data from bitcoind is wiped and next time i have to resync from block 1.  I must not be using the right tool (EC2), can someone point me in the right direction on what exactly i should be using to fix this? I just want a regular/vps linux server that doesn't wipe the data every time it goes down.

2) Bitcoind is doing massive amount of sync on the network, i can see the network spike up in amazon's monitoring tool, is there an easy way to tell how much in/out network data i have used vs the threshold before i get charged. I clicked on all their links/monitoring but can't figure out where they keep this info.  I plan to leave this running in the background but don't want to get hit with a surprise bill a week later.

Thanks!

can offer slight discount for bulk purchase.

if he sells coins with "1 Bitcoin" on them and an intact seal when in fact it doesnt actually have any btc in them, it is fraud. But from my understanding mike is changing the design and removing the numbers, then no it's not fraud.

Not to beat a deadhorse, i just think that will make casascius worthless, like those play coins that get sold for a few bucks.

My mistake on the self-applying seal, read it wrong from previous posts - understood now its a non-issue.

Mike, are you saying the new self fund casascius coins will NOT have the word "1 Bitcoin" on the brass side also? in addition to the hologram saying zero btc or something similar?   That would make it a bit better but i still think it's a bad idea - looking at the tree instead of the forest sort of thing.  The US dollars have "in god we trust", casascius coins lets face it, is "in mike cadwell we trust". It took you 2+ years of hard work to build casascius brand and make it the most valuable physical btc - there is a reason why people pay 2x for casascius and not other coins.

I just think this cheapens the brand to the point of no return if they can be sold as blanks with no value and not viable as a long term strategy.

If in person delivery is okie, maybe it's better to wholesale in person to a few reseller as distributor ( i am sure there will be plenty people willing), can also have 0.1 0.25 0.5 denominations given the current price. Anything but flooding the market with blanks that has no value after working so hard to make casascius a highly desired collectible item.

Of course just my opinions, ultimately it's your call.



 

just goes to show the mainstream business still has absolutely no clue about bitcoins...

It will create a mess on the secondary market where people are not as familiar with the details. You will have people selling unfunded as funded 1 BTC to unsuspecting buyers, you will have buyers find out later the 1 BTC casascius coin they bought actually has no btc in it even though the seal is intact, you will have mass confusion from the market and put in doubt all the old coins including those from previous years if they actually all have btc in it.  It will destroy the integrity and reputation of casascius coins.

I am 100% against selling 1 btc coin with seals without actually have the listed btc in them (that's actually committing fraud) or allowing buyers to apply the seal themselves( for obvious reasons ).  Both horrible horrible ideas.

If that's how it's going to be going forward, please use a different design and don't call them casascius coins.

Got my remaining coins graded. Those are getting pretty rare nowadays and more so going forward, good opportunity for anyone looking to complete the 2011 first year set. I priced them very reasonable given the anacs grade and current btc/usd value.

2011 Casascius Series 2 1 BTC


UPDATE: ALL SOLD

Price include free usps priority shipping within the US 48 states, all international shipping add 0.05BTC and shipped via usps priority international.

Coin will be shipped within 1 business day of payment and tracking provided.

Escrow is okie, but at buyer's expense.

Thanks

If everything continues as is with ~20% increase, 2.2 btc is reasonable.

However you guys realize a significant ramp up is coming in the next 2 months right? with both knc and cointerra poised to release 2-3 TH units. Our current difficulty is only 13K TH, this will be a major disruptive event.  

Anyway everyone can make their own decision, i plan to wait and see.

But major respect to bitmain for delivering what is promised, so rare in this space. I dont know what it is about bitcoin that just attracts the worst scammers and thieves.

those guys are really dragging their feet, it doesnt take 2+ weeks with still no end in sight.  KNC did it in a few days, and any team with cointerra's experience on paper (if it is true) can easily do it in the same time. It's just trial and error unless they screwed up the design which i doubt.

/thumb down

Ship a few initial batches to get the herd moving, then start delaying the rest bfl/avalon style.  Hook, line, sinker.

Classic and obvious. After going through all those sagas over the years people are still so gullible.

ah i see

it says $3200 for 200GH, am i not looking at the correct website?

 http://megabigpower.com/shop/index.php?route=product/product&product_id=69

fyi this is resolved, i *think* the issue was the minimum difficulty setting of the workers, they were all defaulted at 2, once i changed them to 128 or 256 (i put 2 workers on each) for my 180 GH antminer, the rejected shares stopped and everything began working correctly.  I am running at 99%+ accepted now after about 24 hours.

Please explain how you arrive at this conclusion.  Bitfury 200GH set is $3200 = 3.9BTC at current coinbase $822/btc

Antminer 180GH is 3BTC

Both shipping now.  How is bitfury 1/3 cheaper than antminer? 

Bitfury is more power efficient - that is understood, but i dont understand why you think bitfury is 1/3 cheaper.