BTC Value is irrelevant, the only thing that needs to stimulate growth of BTC is some sort of market stabilization. Dropping BTC prices are a bad thing for miners, simply due to the hardware, electricity, and of course the current difficulty.
Dropping prices are good for FPGA-miners. Not all miners are the same. Some also don't care about current BTC value. Rigs payed off, no selling at such low prices. |
|
|
|
I want to be able to buy 1000 bitcoins with a few dollars. Then I'd buy a million and all those people who scoffed at bitcoins I'd offer to send the coins to them. Problem is at 6.75, it is so overpriced so it's not worth buying.
You want to buy below market value? Everyone would want that. Not going to happen. Do you know how many people would buy in big at 1$? Many. Something really bad has to happen or maybe a really long time at 50 BTC mining incentive has to pass for that to happen. We only have roughly 1.5 years left with 50 BTC incentive, keep that in mind when saying "overpriced"... the market value includes future expectations. |
|
|
|
What are your guy's thoughts?
Karma. |
|
|
|
|
The last word will never end.
|
|
|
|
Maybe there are some different comprehension there, haha.
Usually, the FAEs are very happy to give you there software license, because either XILINX or Altera or some others are semiconductor corps. Their profit based on chips selling. They also sell softwares in high cost just because there are lots of technical assistance cost. When I attend a XILINX conference for New Products, they present ISE license as a gift, I'm just a PH.d student. I have a friend working for Altera as a FAE, when I tell him I'm thinking over to use XILINX or Altera FPGAs for bitcoin mining platform, a Quartus II with license in a DVD just ship to me for free. They really don't care about this.
My opinion is, DO NOT let the best 2 of FPGA venders out just because the lack of development software license. Other products are far behind. Just find a FAE, email him, make friends with him, and let him give you a license for free. If you have some contact with college, it will even easier. Another way is ask the sells, in my country, sells also can solve your software license problems, XILINX give them a Volume License for all there costumers. These are all legal ways to get a full license.
Ok, I understand now. My post was kind of off-topic ^^ |
|
|
|
If true freedom (not the limited USA version) was a commodity, I think we can all agree the global demand is bigger than the supply. This is the reason Bitcoin will succeed where others fail.
+1 well said, modrobert. |
|
|
|
Fantastic work, molecular! I freed up a Linux machine last week for my lab, so I can certainly give your guide a try  [UrJtag ... ] maybe we can even program with this tool, I don't know. Anyone? Okay, here's the deal with UrJTAG. I wanted to completely replace the ISE requirement on these X5000 boards by using UrJTAG which works on multiple platforms, at least Linux and Windows. Using UrJTAG would completely eliminate the need to use ISE for mining, because it can both program the FPGA and communicate with it to push and pull work. Now, UrJTAG states explicitly in their documentation that support for Xilinx Platform Cables is experimental and slow. I figured I didn't have any other options, so I gave it a try anyway. Long story short, I can program an FPGA using UrJTAG and my Platform Cable, but it takes ten or more minutes to do so. I also have terrible trouble with the drivers, which need to be re-installed every time I boot my system. I have not given up on using UrJTAG. I dug into its code for xpc_ext. It's fairly simple code, and it looks like the reason why it's so slow is because they're using a slow, GPIO bit-bang mode of the platform cable, whereas ISE would normally use special JTAG specific modes. So with some hard work it might be possible to fix UrJTAG's support of xpc_ext, and I have that on my TODO list. Don't expect it next or week or anything like that; I have a lot to clear off my plate and the work is non-trivial. But it would be kind of fun to get working So many good and bad news in one post  Awesome that urJTAG can, in fact, be used for programming, I was really hoping that. Too bad it's using this bit-bang mode. 10 minutes is a tad too slow. I also noticed another problem (not urJTAG-related): Once I plug in some other usb device (a hub in this case) on another port of the computer the miner is connected to (haven't verified if it's the same usb host), the "cable" gets "stuck" (for lack of other words). When starting the miner, it says "Cable locked, unlocking...." (or similar), but it does not succeed. The workaround is to use "Reset Cable" in Impact. Any ideas about that? Does it happen to you? |
|
|
|
It's really up to you, he's trading a 1:1 value (shipping aside), in my opinion this is a method of cold storage or, as you said, face-to-face trading. (Possibly not face-to-face, if the trades sole purpose was to hide the exchange of a large number of bitcoins, eg. dark net trade.)
If used for transferring bitcoin, it would be awesome if we could send money to the address on the coin. Why is only the first 8 digits on there? |
|
|
|
OP plz dont call this money call them wallets, according to some EU laws you cant issue money
While wallet is more accurate, that would confuse the crap out of some people: "What? This is no wallet, dude, I know what a wallet looks like. You put money into a wallet, you know. This is clearly a coin and therefore some sort of money. Bugger off." |
|
|
|
Why would you buy this given the current state of the Bitcoin market/economy?
Actually, let me quote a friend, who I explained bitcoin lately: "The 21 Million cap is a great idea and I also like the fact that this is community-based and not some institution. But, why is there no way to actually use these in physical form for normal people?" This is physical bitcoin money, not (merely) some investment token. |
|
|
|
Rough summary for the tldr-people: - First I though what's new? There are already virtual payment system
- Then I realized: it's not pegged to dollar but has fixed money supply (it's money not payment system)
- Evaluation: did this experiment work? (assuming it's over already, lol)
- It's good investment for some but not helping economy as a whole.
- Conclusion: we don't need anything like a new gold standard, that would cause money-hoarding, deflation, and depression
Argh, so he's using our infancy-currency to argue against a gold standard. A bit premature, I would say. EDIT: I registered and posted a comment, which is waiting for manual check for off-topic or abusive content. |
|
|
|
Well, there is always piracy  Damn you xilinx, I would buy it if it were affordable but their prices are just plain ridiculous. But to be honest this makes me loose interest in their products, and the more I read about the technology involved I think it would be best if bitcoin miners were developed with the help of the underdog competition. I have to research this further but there seems to be alot of designs which utilize parallel processing new to the market which also provide foss toolchains. I apologize, but why not just search the internet, find a full license , download and use it? I'm sorry, ngzhang, but there are valid objections to this. While I do not have strong objections against piracy, I believe that supporting a more open supplier will do good in general, especially in the long run. Also, imagine Torvalds and Stallman had thought in this way. I know this idealistic thinking might not be easily applicable in this case, but I just had to add my opinion here. |
|
|
|
Not so sure that I wish to wade into the toxic soup, but...
Someone please correct me if I misunderstood how far ArtForz was able to take this, BUT, to the best of my understanding:
ArtForz, a German person, successfully ordered and implemented his(?) own ASIC design. It set him back ~$60,000, and for his pains, he was mining about a 20-25% of all the bitcoin production, somewhere around May or June of this year.
The 60,000 might have been euros. The 20-25% might (and probably was) some other specific quantity.
Was this bunk, or did it happen? I read this somewhere out on the interwebs, but so what?
I'm pretty sure it happened. 18:38 molecular ArtForz: how long roughly until you have 100 asics up and running?
18:38 ArtForz I'll get em mid feb, probably late feb/early mar
There's a lot more talk about the specifics after that, if anyone's interested. |
|
|
|
So, remind me again which brain-damaged asshole with millions of inherited dollars and their loving relative with custodianship on vacation is gearing up to produce ASICS?
ArtForz, although he doesn't fit the description. |
|
|
|
Every post I will ever make in the future will be at a lower average price than the last.
And anyone that believes FPGAs will ever be cost effective for mining is deluded.
Anyone who believes there will ever be a Bitcoin ASIC is simply fucking retarded.
If the first statement is true, bitcoin price will be really low at some point. GPU mining is not power-efficient, FPGA-mining more so. FPGAs will be mining while GPUs have to be switched off. Difficulty goes to januar-levels and an FPGA can pay its investment when prices rise again. Far-fetched? yes. "Never" possible? no. As for the ASICS: Ask ArtForz, he has at least 200, probably more, read #bitcoin-dev chatlogs from around February 2011. Simply fucking retarded my ass |
|
|
|
Bitcoins are not going back up.
Thanks for the information, I didn't know that. |
|
|
|
ofc investments have risk but there also is point where you decide you stop investing if i dint risked i did not continue mining under 10$ because the margin(ROI was crap) was low all the btc mined under 10$ is a poor investment if i sell them now so if i keep then i take the risk of losing all/part the value put into their fabrication
there is a point where feelings/desires collide w/ cold hash math and math will always win
(emphasis mine). I gotta write that down... "cold hash math", awesome. |
|
|
|
@stalin-chan I stand corrected.
On separate matter: Poor BenDavis was forced into a situation where his moral character was put on the line. He has to choose to return the 511 BTC or keep it -- both of these decisions can lead to serious regrets -- give the BTC back, and regret spending it for being weak (nice guys finish last etc etc) -- or keep the money and lose your moral character to the ideal of becoming a thief. Being human, these are not easy decisions to make for all people. A happy compromise might have been to return most of it (two thirds for example), and keep the remainder as compensation for the heartache of deciding.
If you do read this Ben, I hope you are able to reconsider and give a portion back -- I get the feeling this chapter is closed though for now.
phantomcircuit I hope you can bounce back from this, and make your business more successful then even you hoped before.
If he sold around $8, he could buy back now, give back 511 (or some percentage) and keep 50 or so he made on exchange. |
|
|
|
|
Show Posts
