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why would it be questionable for them to trade on their own exchange? if they receive fees in BTC, i can't think of any reason for them not to liquidate on their own exchange as long as they were selling at market, and not using large amounts of bitcoin to try and manipulate the market.
don't they currently use bots to trade? i may have misunderstood something i read on the bots though.
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i'm talking about bitcoin only. i or a company i will form, (most likely offshore where regulations are more accepting and authority less likely to try and interfere) would receive personal loans from individuals. the terms would be a set interest rate that would be paid in addition to repayment of the principal, by a set date but possibly prior. incoming principle would be btc, outgoing principle and interest would be btc.
i want to structure it as private loans, not investment vehicles as i imagine there would be far less red tape.
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i still think an automated private message welcoming and reiterating the requirements would be helpful.
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fair enough. your concept is very intriguing to me, and while i admit my extreme ignorance in technical proficiency to really understand, it doesn't seem like a ton of work to move from the current design, to implementing your concept.
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As agreed between the parties
Risk it
You're on you own
thanks. is there any recommended set up to protect (as much as possible) those lending the money and to a lesser extent, the receiving party that will be paying back the principal plus interest? i'm thinking i'll have to touch base with a lawyer before moving on an idea i have, but would like as much information walking in as possible. |
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we don't know what the numbers represent. its not a full accounting disclosure, so i don't think we can't draw any profitability information from what they have supplied. we can draw the conclusions they are obviously trying to have drawn, but they mean nothing.
and the idea that 52k bitcoin a year is not easily liquidated is in my opinion, extremely incorrect. you don't think they could move 1k bitcoin a week with ease? seriously? 1k a day would still be easily exchanged to fiat.
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btw, my interest is for personal rigs, not commercial interests. just wanted to be clear on that in case there were any concerns, or if commercial use of the design would violate even the spirit of the project.
This is DIY if you had a manufacturer make this you would prob pay a extra 250 to have them put it together so it would be cheaper to just buy a foga miner already built depends on the hashrate. death and taxes seems to be onto a design that is very attractive. |
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where do you get the information that mtgox is operating at a loss? is that a paper loss for tax reasons, or EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization)
All I have is this (rather informal) report they released a month or so ago: https://mtgox.com/press_release_20120201.htmlok, just had a look at that. where are you inferring a loss? |
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How can they do it?
I obviously have no more of an answer than you do, but are you aware that MtGox is running at a loss? This is probably because they have external private investors who are willing to foot the bill, making short-term losses in exchange for the promise of market supremacy when/if things take off. The same is probably true of bitcoinica. I don't know who has invested in it, but zhoutong has made references to speaking to investors at various points, so it doesn't seem unlikely that wealthy backers would just decide to cover the cost in exchange for a larger stake in one of the most successful bitcoin ventures yet. The loss may have wiped out bitcoinica's profit, but I wouldn't necessarily assume that just just because they are willing to cover their losses out of pocket that they necessarily made all that money through their own business activities. Another consideration is that large purchases of bitcoins (such as a wealthy external investor covering bitcoinica's losses) won't necessarily happen on mtgox or anywhere observable to us. I know of several large over-the-counter transactions that occur regularly. where do you get the information that mtgox is operating at a loss? is that a paper loss for tax reasons, or EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) |
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In theory yes. In practice it likely is not worth it unless the power draw is very high and the output PER CHIP is very high. The waterblock (part that attaches to the heat source) is a large cost of any system. And 50 GH/s made up of 500 MH/s chips means 100 waterblocks. 50 GH/s made up of 200 MH/s chips means 250 waterblocks.
One should have a LOT of experience water cooling before looking into custom setups. Personally I think BFL Singles are a good candidate for watercooling and would like to experiment with a couple of them. Sadly BFL has made that all but impossible which is a shame. No other chip FPGA has enough "density" to make watercooling even "interesting".
the new heatpipe design of the singles may very well have a mounting system that would lend itself to aftermarket cooling solutions. |
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anyone have any technical details on the rig box?
Not much: 2.5 KW in (via two power supplies) and 50.4 GH out each second. yeah, i was more talking about deeper information. the CAD drawing of the single made me hopeful. |
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anyone have any technical details on the rig box?
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can anyone give me a quick overview of the regulations or lack there of of personal loans providing no liquidity for the loaner, and the payment of principal plus interest at a specific date or before?
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what are the proposed repercussions if a foreign financial institute decides they only need to obey the legislation of their home country?
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as with most things, the reality is most likely somewhere in between the two extremes.
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I would never let girlfriend/wife interfere with my business investments, if i see something is going to bring X % ROI annually, all she'd need to know is that it's going to bring the bacon on table. Lots of american men are pussies when it comes to their women. The men bring in all the money yet still let their bitches tell them what to do with the money. Can you believe that? American women are spoiled cunts. On another note, my wife knows all about the mining adventure and has approved ever since she saw the first $1k hit the bank account. She even put up with the house being 86 degrees when there was 5Gh running here. on that same note, i was giving my wife a quick overview of bitcoin, and told her i was going to be investing in it. she still had the glazed over look in her eyes from the bitcoin explanation, but she didn't miss a beat with the, "i trust you to do whatever it is you think you should do." |
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btw, my interest is for personal rigs, not commercial interests. just wanted to be clear on that in case there were any concerns, or if commercial use of the design would violate even the spirit of the project.
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If you took the time to talk with BFL instead of hacking away on your keyboard, you too would realized that the only company that can try to pull of perfection is Apple.
The rest of us just try to muddle through it.
i'm sorry, are you saying apple either achieves or approaches perfection? LOL. No. They are the best at the illusion of perfection. whew. well that's alright then. i think it was once described and repeated often as a "reality distortion field". think that about sums it up. |
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If you took the time to talk with BFL instead of hacking away on your keyboard, you too would realized that the only company that can try to pull of perfection is Apple.
The rest of us just try to muddle through it.
i'm sorry, are you saying apple either achieves or approaches perfection? |
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Of course this would require work and money on the part of a botnet operators. Operators are leeches of society. The idea to actually do a token amount of independent work is a concept completely foreign to them. They simply expect pools to to take their extremely unprofitable, server crashing workload AND be happy about it.
while that can often be true, botnet developers have matured considerably. its turned into a multi-million dollar industry and the operators/devs at the higher end, often treat it like any other business venture. Cocaine cartels think of what they do as just a business as well... do you have any idea of the corporate style structure and accounting systems in proper cocaine cartels? |
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