how is 91TH possible? that's just a lucky streak estimate I think. Otherwise it's nearly 70% of the network.
Its a lucky streak. And its awesome. |
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I feel sad with anyone who is unhappy with a minimum 30% annual return, even with lower dividends than this one. Apparently, they have completely different expectations than I do.
Also, ASICMiner just found 4 of the last 7 blocks. Please sell, I want cheaper shares.
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Everyone agreed that it will never back ROI when its price/auction was announced. (erupter blades/ usb sticks)
This. Everybody knew that those blades were hugely overpriced and there was no return in buying them. Let's be clear. They just sold some dozens of them. Mostly to newcomers. If they were priced reasonably, you would have seen single persons buying hundreds of them and building big set ups based on those units. That didn't happen, because the blades never made any sense from a business point of view except for ASIC miner and their shareholders. Those units were just a very unprofitable toy for the customer. The blades, post auction (so at 50 btc) were very reasonably priced. The were literally the only thing you could buy that would ship, and the ROI wasn't terrible (3-4 months). They also sold hundreds of blades, not dozens of them. The USB devices, were initially around 6 months ROI and were not looking as good with difficulty increases. That said, they were going for 2.5x their BTC price on ebay, so a lot of people bought them to resell. Bitching about "the market rate" is ridiculous. ASICMiner had a set inventory, and they sold out, at a rate that maximized profits. |
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Everyone ignores the constantly growing (and eventually larger than block rewards) transaction fees in all of these estimates.
Yes transaction fees are only 2% of block rewards right now, but they will increase in % by design.
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Um... bitcoin is the very definition of value out of thin air. It can't be used for ANYTHING else other than trade.
FALSE! It can be used for lots of things beside trade. Validating the creation date of a piece of software by inserting a hash into the blockchain for example. Or auditing. Or many other uses. http://www.whyisntbitcoinworthless.com/ |
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that's a thing of beauty.
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guys, gpu mining is still profitable on litecoins, even with my electricity costs which is 0.17 / kwhr
I mean, if you want to shut down your rigs thats cool, but you dont have to.
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I find that whole situation totally ridiculous on BitSynCom's part. $78,000 is no small amount of money. And no support doesn't mean take your money and then totally ignore you.
I understand they don't want to provide technical support for the chips, but that certainly doesn't mean they can take money and then not communicate in any way about sales orders. When I saw the conference video of Yifu he didn't strike me as that kind of guy, but I have to wonder now.
You can hardly take at face value his talk about "the community" and supporting Bitcoin when he completely ignores a customer who sent almost $1 million his way for chips. Doesn't that make you question what's going on over there? I mean, WTF?
Its really sad. Yifu seems like a standup guy. And he's now rich. And yet there are people who still haven't received their batch 1 avalons. I mean for god's sake, hire some people to do support. |
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.... how to push it through, without the people noticing - shame on you. that's all I have to say
Are both of these posts from you? This is the 3rd or 4th time he has done that in this thread. Obvious troll is obvious. Clicking ignore button now. |
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No, bitcoin is not intended to rival Visa, and never will be. Bitcoin has nothing to do with debt (thank goodness).
Ok, in that sense it's not. I am talking about eventual transactional capacity, not a business model. Simple question, even if you don't feel that an appeal to authority provides for a valid argument, I respect your work and would like your answer to this. Having worked on the core code, with the understanding and knowledge that you have, do you personally believe that the 1mb limit was intended to remain in place permanently? Regardless of what is decided as optimal now, what do you believe was the original intention? |
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And I don't see an option for "It will stay in the geeks' mode, because the core devs will betray Satoshi's ideas for a corporation's 40 silvers, while the people's (hashing) power will stand up to them, in order to protect the actual values behind their Bitcoins".
Though, even then, I barely ever participate in polls that have more than a Yes/No answer.
Stop misrepresenting Satoshi's ideas. I've read them. I knew what I was signing up for. Bitcoin is intended to rival Visa and Paypal, not Western Union. Saying a lie over and over again does not make it true. I want Bitcoin to be widely used. Actually used. I don't give a fuck about running a full node on my watch. |
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I don't see the option for "a shitty wire replacement service that is expensive to use, impractical for commerce, non-ubiquitous, unwilling to make use of computing advancements, and soon to be replaced by competing technology developed by reasonable people". |
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I still did not received satoshis or divs for my direct shares. Anyone with same problem? Do we have some transactions stuck again or is this just me?
100 BLOCKS! We have to go through this every week with new shareholders don't we. |
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And that will never happen and has never, ever happened in history. So yes, amincd's argument is correct.
The only other thing that can be done technically is shutting down the Internet.
Even then, we're just going to run Mesh networks, powered by the sun if need be. The cat is out of the bag. |
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Can you guys explain to me why you are buying these devices, which have no other value but for mining of BTC?
I just do not see how these would be profitable given the current growth of the difficulty.
They ship. And they are the first mass produced USB ASIC, which is awesome in its own right. People say that if difficulty increases too fast, you would have been better off buying coins. They are right, so I do both. |
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Now you are just being a rude son of a bitch (not a troll). I would have been rude if I was lying to have someone really close to me died recently. But since it really happened, and you feel sorry for Gavin, but not at all for me and my mom, then I can only tell you back: fuck you! Still, the code does not care about who died and someone has to take the stake and develop it further in the right direction. You are an asshole. Gavin was offering a way for people who actually care about this issue to present the various arguments in a useful way AND giving a reason why he can't do it right now. It wasn't an excuse, it was Gavin being his usual pragmatic self. --------------------- Gavin my thoughts are with you and your family. |
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This thread is a complete rehash of months of debate. I can't wait until we can get past this issue. I truly hope that the efforts here http://utxo.tumblr.com/ are successful, because helping scalability means helping Bitcoin and this might the most important work in the history of the currency. |
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I think this is why we'll see quite a bit of resistance as the price approaches $1k. 20 years later they'll kick themselves just like those who sold just under $1 but they'll sell nonetheless.
they said the same crap about beanie babies. beanie babies are neither scarce, nor useful, nor revolutionary. Time will tell, and I know what side I'm on. |
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Has anyone done a test to see if hardware errors go up (and average mh/s down) when using a Pi vs a desktop?
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