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No, but in the meantime if I hold I cannot take part in any profit potential with these funds. So, I "lost" them. One doesn't need to sell to have a negative position.
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I just lost almost BTC2 because of this. Damn.
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That IPO has already released. Do you mean the panic sell just two days ago? there was no panic sell last week. |
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Shares are down to .0014. Need some good news to give it a boost.
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Once the experienced hardware developers jump on board all these small fries will disappear.
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Fake Bitcoin news stories should be the norm. Just let me know before they get published.
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I think Terrahash, out of courtesy and appreciation to its first batch customers (us guys)... should consider offering us a Second Pre-order opportunity prior to reopening to the public,,,and maybe offer all of us who have hung tight with them a chance to purchase up to 2-k64's or 8-k16's (128 chips) for example" at a respectable discount ( even 5-10%  ), But only after the first batch has shipped and been received. Thus giving us a chance to help make up for lost time if any, or just a way to say thank you! If they ship us, then they know we are good paying customers, and it would be easy to to do for Terrahash as they would have the production machine rolling, and they would know, by limiting the amounts of G/Hash we can reorder at max, then there would be no big surprise for them in inventory counts. I think something like this could be a WIN WIN for us as well as Terrahash!...Think about it please Terrahash..... Might would be a good contolled stratigic order move that would serve your budget well and smoothly....Even if only for a limited 12 hour hour order window for us,,,so long as we get an email first! Ok, just thinking outside the box ,,,maybe wishfull thinking but deserves some consideration I would think After receiving this order and hopefully breaking even I will not be making another ASIC order until next generation comes out unless these boards will be made available at much lower prices. By the time we get our boards the difficulty will be over 50M. Adding more cards at the initial price is just going to put you further in the hole. |
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Didnt terrahash tell us he ordered everything and had everything he needed to mass produce our units weeks ago (less the Avalon chips)?
Now we find out he didnt even have the PCB boards to populate? And still doesnt have them on hand?
And until the revisions are tested then he shouldn't, It would be best to wait for BKK's final tests on the revision before ordering them (its only a few days away). Outside of this I think he has all his ducks in a row. Credit where its due, Its all minor details now until Avalon deliver, and there not answering the phone so no one can do anything but wait. Thank you Terra for your support of BKKCoins But they told us they had everything ready to go and were only waiting on the chips. This is untrue. They are still waiting for parts. Not trying to blame anyone for anything, but... hopefully some serious competition heats up in the ASIC market because this sort of thing requires strict deadlines to be profitable. Oh, Thanks BKK for your work on the Klondike boards. |
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^No. you will not get your board by August 15 and probably not by Sept. 1.
Not surprising. Fine I reserve Sept 2nd. Where are BlockErupters selling for BTC.15? |
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^No. you will not get your board by August 15 and probably not by Sept. 1.
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*grabs pitchfork* yea! damn them! while we are still waiting on chips, hope TH caught this: NOTICE:
There is an error in the K16 Parts List on Github.
R47 is marked as 0603 package but the board requires an 0402 package.
This is a 100 ohm resistor. Qty 6 should be reduced to Qty 5 and an 0402 Qty 1 added.
I've fixed the error in the parts list but if you have ordered 0603 resistors for production you will need to also order some 0402 of the same. For DIY hand assembly you may be able to fit an 0603 in as a hack. I'll update later as I see how this works out.
Sorry everyone. I thought all the errors had been caught some time ago but this one slipped in as part of the last revision.
It's fairly minor in comparison to the ASICs that never ship, but it's a nuisance, I know.
Yea, already ordered the new part. We have ordered enough components to assemble upto 200,000 chips or 12,500 K16s. The only part in shortage right now is the PIC. But, we have enough of them for 40,000 chips and more are coming in around August 15. Heatsinks will be here next week. The cases were supposed to arrive today, but the shop says they are delayed by a couple days, which is fine for now. Power supplies and fans (for the cases) have been ordered as well. Cable harnesses for powering upto 40 K16s from a single power supply have been custom made, they will be here by next week too. And Avalon chips are still MIA.  Doesn't matter if they are MIA or not because TH doesn't have all the parts ready to go as they claimed a couple weeks ago. We were supposed to get these at the end of July, then it became Aug. 15th, now it is end of august or sometime in september. Why aren't everyone who ordered from Avalon collectively asking them what is going on with the chips and then relaying to us how long it will be? |
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I will answer all the questions asked below as FAQ here: Q. Are you going to design your own PCBs? A. No, we will be using BkkCoins' Klondike design. We are already in talks with him for a bulk order. But of course, we are still waiting for specs from Avalon, before he can finish the design.  wow thats old...yes they are using his design complete with royalty's...but are having their own boards printed from that design locally,,,at least now they are,,,I remember that faq....lol....I think there has been a lot of twist and turns for TH,,,,, putting it lightly.. Plus they have a full k16 already hashing....beyond that does it really matter who makes he boards? they got it now BKK I believe has received the revision board and is populating it by hand ( probably as I type, it took him 6hrs last time i believe) Am sure/hope TeraHash is waiting for the results of the revisions before ordering new pcb`s ( there is no point in anyone else doing this until bkk`s is working ) Were at the mercy of Avalon now  What are we looking at? End of August, Mid Sept? or later. |
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Had only I snagged prices much lower than I did and made tons of profit.
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Well, there you go - hopefully prices of these stocks return to "normal" soon when everyone gets the news.
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What is the obvious flaw, genius? I mean, just go ahead and spit it out... don't tease us.
No point in telling you since you are too dumb to understand it. I don't even know what the hell you are trying to say in the last comment. That just simply has no connection with anything I said.
Exactly, you didn't understand it because you are really stupid. Whatever, kid. I don't even care. Peace, I'm out. And I hope this turns out not to be true. |
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You sir, are what I deem a racist. Makes sense, racists are very ignorant.
Let me ask you this: If this is all insider trading, and not through realizing opportunities that others do not see as the entrepreneurial spirit entails, tell me, oh tell me, what is he doing in bitcoin? What is this insider information that he is about to "thieve" a fortune from?
You do not know what racism is then. I didn't say it was insider trading, I said he got his fortune through insider trading and using his connections within the central banking cartels. What I said, with regards to this story, was that if this story is true then he is making one of the first moves to gain control of the mining power of the network. ___ All they have to do is secure the mining power, fork the chain while altering the protocol to allow more bitcoins, tell the masses that any other chain is illegal and disastrous to society and there you go - job complete.
For example, too dumb to see the obvious flaw with this theory. trader joe nor any of his zionist banker buddies should be allowed within an astronomical unit of a bitcoin mining operation under any circumstance.
And again, apparently too dumb to understand that the whole point of bitcoin is that no one has to "allow" you to use it. It's the kind of statement that only someone who isn't even capable of actually understanding bitcoin could make. Sell all your bitcoins and buy BBQCoins or whatever if you don't like it. What is the obvious flaw, genius? I mean, just go ahead and spit it out... don't tease us. I don't even know what the hell you are trying to say in the last comment. That just simply has no connection with anything I said. |
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Lewis was born to a Jewish[1][2] family above a public house in Roman Road, Bow, London,[3] Lewis left school at 15 to help run his father's West End of London catering business Tavistock Banqueting, starting out as a waiter. When he took the reins, he quickly expanded it by selling luxury goods to American tourists, and also owned West End club the Hanover Grand, where he gave Robert Earl his first job.[3] He later sold the business in 1979 to make his initial wealth.
You sir, are what I deem a racist. Makes sense, racists are very ignorant. You are a dumbass, you must have no clue what racism is. First of all you are confusing Zionism and Judaism - they are not the same thing. I never said anything about jewish people. |
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I actually like Joe Lewis, he's a force of good in this world.
Magically went from a bus-boy to multi-billion dollar fortune through hard work and dedication - BS, he thieved his fortune with the help of insider info just like the rest of his kind: Soros, Buffet, etc. they are low lifes who wouldn't be crap if they had to compete with everyone else. |
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Could there be hyperinflation in Bitcoin?
Currently the creation of new coins is fixed at a certain rate which halves every few years and will at some point in the future drop to zero. As I understand it, this is by consensus, i.e. all the nodes in the network agree on this protocol.
Suppose at some point in the future the Bitcoin community were to decide that the currency's deflationary bias wasn't such a good thing for the economy and that it would be better to start expanding the monetary base at a higher rate. What would it take for such a policy to take effect? Specifically, what percentage of the nodes in the network would have to vote in favor of the new expansionary policy?
And if indeed the network could vote itself into an expansionary policy, is it then also conceivable that it might vote itself into a hyperinflation, where the rate of expansion gets out of hand?
In short, what does it take to change the rate of expansion of the Bitcoin monetary base, and how easy or difficult is it to achieve as compared with the stroke of a central banker's pen? Answers: As per the current rules there will only ever be 21 million coins at most (explained in other answers here). However, I'd like to add that this is by general agreement, which means that it can be changed.
See this question: Could there be hyperinflation in Bitcoin?
Looking at the history of money, I am skeptical that there will only ever be 21 million coins. I don't know of too many instances in history when money could be created out of thin air and wasn't. It would be foolish to ignore history. Whether or not there will be more than 21 million coins depends on whether or not "the people" demand it, and once again history is our guide. Not everybody needs to agree (that would probably never happen!) for there to be a change in the protocol (which would be needed to cause inflation), but it's not based on just a majority of hashpower either.
It's really a vast majority of users that need to agree; if just 51% of users decided to change the protocol, it's entirely possible that it would cause a massive loss in confidence in both resulting chains. Retailers and every other service would need to choose which to accept (or accept both), and try to understand the difference, and communicate that on to users.
I think most of us know its a bad idea to go down that path with Bitcoin while it's not yet been fully accepted as mainstream. A smoother option would probably be to create an alternative cryptocurrency with a new name, rather than trying to split the Bitcoin user base into two parts.
All they have to do is secure the mining power, fork the chain while altering the protocol to allow more bitcoins, tell the masses that any other chain is illegal and disastrous to society and there you go - job complete. trader joe nor any of his zionist banker buddies should be allowed within an astronomical unit of a bitcoin mining operation under any circumstance. The problem with idiots is that no matter how much time you spend trying to explain things to them, they will never understand -- if they simply lack the intellectual capacity to comprehend the explanation. Makes it a huge waste of time to bother. Especially those who think they understand it when they do not. |
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Not good that a big-time thief like this guy is getting involved with mining. Mining is the way to control Bitcoin. Once you control the mining operation, you can do anything with Bitcoin you want. It not longer is beholden to limited supply or anything. They know this. Once the masses jump into Bitcoin and these mega douches control everything Bitcoin is over, it will be just another exploited currency. The problem is that we are still in their system of monetary control - i.e., they can buy up anything they want and that includes Bitcoin. The only time to strike is is when their system has collapsed.
Please learn how bitcoin works first I know how it works. If you control the mining, you control the voting of the bitcoin network. Once, the masses jump in, all of us "decentralization whores" and libertarians aren't going to have a voice. The Big money will control the mining and the forking of the network and they will lead the masses, who don't understand the need for decentralization, along with them. Once again... LEARN HOW BITCOIN WORKS. The only thing miners "vote" on is which tx is valid in a conflict and which txs are included in the next block. That is it. If a group of miners change the protocol it is a fork and existing users and continue to use the existing (original) Bitcoin. Not if the "original" bitcoin is made illegal. The users can decide which chain they are a part of through client updates and such. Don't sit there and try to tell me that can't work. It absolutely can work. When FTC was forked, we had to update our clients to make sure we weren't on the forked chain, and many were, and were mining and transacting on the forked chain. They could fork the masses right off to a new chain and leave the original hanging with computer nerds and the sound money crowd who were fine with running an illegal chain. It. Can. Happen. Especially if the big players want it to happen, easily once they get everyone on board and the infrastructure built. So shut your ass. Not good that a big-time thief like this guy is getting involved with mining. Mining is the way to control Bitcoin. Once you control the mining operation, you can do anything with Bitcoin you want. It not longer is beholden to limited supply or anything. They know this. Once the masses jump into Bitcoin and these mega douches control everything Bitcoin is over, it will be just another exploited currency. The problem is that we are still in their system of monetary control - i.e., they can buy up anything they want and that includes Bitcoin. The only time to strike is is when their system has collapsed.
Please learn how bitcoin works first I know how it works. If you control the mining, you control the voting of the bitcoin network. Once, the masses jump in, all of us "decentralization whores" and libertarians aren't going to have a voice. The Big money will control the mining and the forking of the network and they will lead the masses, who don't understand the need for decentralization, along with them. Once again... LEARN HOW BITCOIN WORKS. The only thing miners "vote" on is which tx is valid in a conflict and which txs are included in the next block. That is it. If a group of miners change the protocol it is a fork and existing users and continue to use the existing (original) Bitcoin. To be precise, a 51% attacker could implement any soft-fork to the system, i.e. making an originally valid transaction invalid. That's all he can do. So he could blacklist bitcoin addresses, decrease money supply, decrease block size, charge ridiculous tx fee, reverse confirmed transactions, etc. A 51% attacker cannot pull a hard-fork (making an originally invalid transaction valid), e.g. inflating money supply, raising block size, printing money out of thin air, stealing money, etc. I am not just talking about a 51% attack. We are talking about using the majority of the mining base to fork the chain while altering the protocol on the fly to adopt to government regulations - they can change the max number of coins, just as they can alter the blocksize, etc. You need a mining base to maintain the particular network for each chain - that is why they would take over the mining infrastructure. But they also need to alter the protocol. Taking over Bitcoin will be easy once the infrastructure is established AND the masses join... because the masses can be duped into anything. they will take it over, eventually, if allowed to. Whether or not we maintain the original in a black market is a different story. |
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