Just for the record, I don't disagree, and I don't recommend buying hash power on CEX. I'm just saying that if you buy hash power on CEX with the intention for holding it for mining profits you are implicitly expecting difficultly to stagnate or fall.

So if the question is "are hash shares on CEX overvalued" my answer would be yes and your answer would be yes, but isn't a logical certainty.

The one thing that would likely put a damper on difficulty would be a big crash in the price of BTC. So in a way you could look at CEX as being a short on BTC.

You can get more out if the difficulty goes down (or goes up less). That is the gamble.

It's more than a month. This one is promised for mid January, the other one for late February. Figure three difficulty jumps, and these shares are $70 instead of $110.

It seems fairly close, depending on exactly the trajectory you expect difficulty to take (it isn't and never has been a uniform rise per jump, despite what calculators assume).

New oddity.

I sold some bitcoins the other day but now the sell transaction is gone, and the coins are back in my account.

No email or other notification.

In place of where the sale used to be in my history, it says "You sent bitcoin to Coinbase" 11/19 and then today "You purchased bitcoins" (I didn't) on 11/22 for the same amount.

I guess I shouldn't really complain because the price is higher than when I sold, but this kind of weird stuff happening in my account does not inspire confidence in their service.

What's going on?

In the OP it says you get a free backplane with 7+ blades.

Congrats. PM and payment sent. Looking forward to the blades.

I got a small ACH yesterday that had been delayed a couple of days. I was thinking about doing a larger one with them but I think I'll wait until this is cleared up.

Your solution only works when the dust coins are a small part of the value, but you have some bigger coins to spend. If someone is getting their coins by receiving small distributions from Nasty Fans, modest-hashrate pool payouts, etc. their entire wallet will be "dust"

Also, I'm not sure if this is a solution long term. There is an actual cost per KB to miners of including transactions (that is vaguely close to the current fees). Your suggestion increases their actual (average) cost per KB, so fees in that case would probably go up.

Another suggestion. Offer the option to take (small) distributions in a lower-value altcoin.

Essentially no.

A transaction will be processed without fee (given sufficient block space, but that's becoming an issue) if it is "high priority" (and some other conditions, see link below). That requires a 1 BTC transaction that is only a day old or some equivalent combination of size and age. A transaction of 0.00018967 would need to be over 5000 days old to make it. Even then a combination of enough of these (~40) would fail because that would be >10000 bytes.

https://en.bitcoin.it/wiki/Transaction_fees

We're already at the point where reliably spending the distributions involves prohibitive transaction fees. For someone with one seat the latest distribution is 0.00018967. The standard transaction fee is 0.0001 per KB and pulling the output of a transaction into a new one takes about 1/4 a KB. So spending the distributions will cost roughly 12%.  Of course you can gamble on not including a fee and hope your transaction goes through, but that's not really a solution.

Something needs to be done, maybe just include a check box for people to voluntarily put their seats into probation status?

18 is open? Doesn't show available on the web site.

Anybody have any issues selling bitcoins through them, particularly larger amounts? I theoretically have a 50 BTC/day selling limit. I wonder what would happen if I tried to do that?

How about any unpaid distributions (just fully credited, but not yet paid, NOT partial weeks) associated with a seat are added to the sale price.

Example, you accept an offer to sell a seat for 0.05 but the seat has 0.001 of unpaid distributions from previous weeks. You have to pay 0.501 to buy the seat. The new owner inherits the 0.001 accrual so the net price paid is 0.05.


Yes that seems simpler.

Maybe let people set their own payment schedule? There is already a mechanism to hold the donations for probation accounts. That could be extended to all accounts.

Refund received. Thanks!

Saving is good to be nimble. In any business sometimes opportunities arise that don't allow enough time for fundraising. Savings isn't that useful to take advantage of BTC price increases or to support seat values for its own sake because members could do that on their own. I'd rather see money in excess of reasonable working capital needs be distributed. (We're a long way from that of course.)

Also, forgive me if this has already been brought up (the thread is pretty long and I only joined recently) but how about an option to reinvest distributions by automatically buying seats on the auction (check box to enable plus a maximum price per seat to be paid)? This would provide some better liquidity for the seats, since it presently isn't possible to have any kind of standing buy order (only sell orders).

I'd point out that the amount of debt may seem large but it is only 0.0114 BTC per seat (using nominal 25,000 seats). At current seat prices this is a very reasonable debt to equity ratio. As I said before, mining is a competitive low margin business and if you are good at it some leverage is appropriate and useful.

I voted against the change but going to 50% would be okay.

I think the biggest reason the share price is dropping is concern over the delivery dates for the next gen ASICs, especially BFL.

Facepalm.

Decent supplies like 80 Gold are usually at least 87-88% even close to 100% load (up to about 90% at 40-50%), though they do usually run the fan harder at the high end. 750 W isn't too bad for 8 boards but is still a lot more than the 50-75 W/board being advertised.

If its such a great deal why don't you just do a standard group buy?

Maybe you have great ideas for innovative mining business models but you really need to get a loyal following before you can pull that off. Otherwise it is a bit much to ask for people who don't know you to wrap their head around your "big ideas." Start out with something more familar then do the innovative stuff later. My 2c.