Total Orders (By last seen) 15454 (with the preceeding 1000 of the new number)
Orders Tracked 317
Units Sold
Jalapeno SC 214
Mini Single SC 37
Single SC 345
Mini Rig SC 25
Some scary food for thought: Average units per order:Jalapeno SC 0.3446 = 1.551 GHash Mini Single SC 0.0596 = 1.787 GHash Single SC 345 0.5556 = 33.333 GHash Mini Rig SC 25 0.0403 = 60.386 GHash Avg Ghash per order = ~97 Ghash Times 15454 orders = 1,499 TH or 1.5 PETA hashes per second = ~215 Million difficulty ONLY counting BFL.  |
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DailyTech - Bitcoin Rollercoaster Ride Sees Currency Soaring to New High of $32/CoinSome of these comments are so misguided (and some have very valid points): By p05esto - I can't help but feel that at any point Bitcoins could instantly go to $0 in value. They seem really sketchy and mostly used by people doing illegal things. Could just be me, but this is how I feel and why I keep away with a 10' pole. By kleinma - [...] Bitcoins if I understand it correctly are just hashes of data generated from video card GPUs. Meaning that as the GPU gets better, more coins can be produced, and eventually people will be able to make how ever many they want, causing the whole system to fail, or just inflation to cause one US dollar to equal 50 billion bitcoins where it is not worth it to have them. By Solandri - A currency needs to grow slightly faster than the economy. If it doesn't, it becomes more cost-effective for currency holders to stuff it under a mattress and wait for its value to go up, instead of using that currency to increase their productivity through economic activity. By Gondor - It is amazing that there are gullible idjits out there who would put a value on something as imaginary (and backed up by noone) as "bitcoins".
The thing with "bridge for sale" springs to my mind whenever somebody mentions this crap. The funny part about this particular bridge is that it is free (as in: everybody can create one at no cost). How daft must one be to invest real money in something like that ? By TSS - I hate Bitcoins. There i said it. I have and always hate them and their concept. For a very simple reason.
Right now, we're paying with money that's made up out of thin air. The vast majority of money is virtual, made up by typing numbers into a screen. Now there are some problems with that.
But bitcoins are virtual money, paying with thin air, that you first have to burn a real world lump of coal for, before the numbers are typed into the computer. How else is that GPU getting the power in order to mine bitcoins? the biggest source of power in the world is coal. Wether we have a script add the numbers or a human doesn't matter, they are still digital bits floating around in cyberspace.
This is the madness that i hate. Rather then saying "right we just won't print any more money", we have to burn real world resources to limit the creation of virtual money. It's the ultimate form of decadence. Instead of paying for something with nothing, you pay for something by destroying another thing.
i HATE em. I'd rather return to gold, and i really dislike the gold standard for the same reason, turning a society that has learned to pay for something with nothing back into a medieval society which *has* to pay for something with something else or nothing gets done.
We could just, get this, put it in the constitution that the government is the only entity allowed to print money, and then, in that same constitution, tie the rate of inflation to the rate of growth of last year. 2% growth last year? 2% inflation this year. And then NOBODY gets to change that anymore. It can only possibly be changed by a 2/3rds majority in house, senate, president has to agree AND a referendum has to be held in which >60% of the population votes yes. It'll be a cold day in hell before all of that happens. And when the economy shrinks more or grows less then the numbers allow? TOUGH.
No need for bitcoins or massive lawbooks. The only problem that needs solving is people printing *more* money. Not people printing money. By Shadowmaster625 - Only a fool would use as a store of value a currency that went from being worth $2 to $32 in a year. Imagine if the dollar went from being worth 2 to 32 euros in a frickin year. It would kiss its reserve currency status goodbye. (Assuming it was the dollar and not the euro that was so volatile!) ^Now that's a fair point, but this "fool" would be 16 times richer if that were the case. By schmandel - It's safe to say that Bitcoin would not be around were it not for its use for black market transactions, primarily the Silk Road web site on Tor. There was some early interest in money laundering, but it's just another tool with limitations in this regard and really too small to handle laundering placement volumes for work of consequence. Bitcoin is way too much of a PITA for any legitimate payment system use unless you are some sort of True Believer ;-)
The limited number of Bitcoins is a feature that is a tribute to the idea of money that doesn't inflate due to fixed supply ( e.g. gold ) and all the magical ideological thinking that comes with it.
It is all working out as the creators mush have intended, the coins they mined two years ago for pennies are now worth dollars, a few parties hold nearly all the bitcoins in existence and are the central bankers of this not-so-decentralized currency.
Outside of the transaction engine itself, the Bitcoin infrastructure is remarkably amateurish and crappy, leaving it rife with hacking issues and fraud.
If small time black marketing and wing nut economic theories turn you on, Bitcoin just may be the place for you. However, if Silk Road is broken by law enforcement, I would expect Bitcoin to be gone, gone, gone.
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what correction? BTC may well not follow Elliot theory because that was based on well founded market relationships that do not apply to BTC. Do not forget BTC is in "another playing field" to conventional economic theory so the old rules may not apply. reg
If you look at the period before the last crash, the climb was of a similar gradient. Actually, it wasn't much of a crash at all, more like a glide. The point is, its happened to the Bitcoin exchange before, so it's not impossible, and I would guess it's more likely than not. |
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This is getting a little too high. I'm cashing out while the cashing is good.
Just don't make the mistake of going back and checking the price later, to see that it's gone up to $40. Even with all your sweet profit, you'll be kicking yourself. |
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Start with a Bitcoin mining profitability calculator. there's a good one on BitcoinX.comThat doesn't take into account the two variables that no one can predict, Network Growth and Exchange Rate, so there's no use calculating anything with today's numbers. I'd say in the long run it's more profitable to mine, but it's a little more involved and requires more time for upkeep. If you don't have that sort of time on your hands, I'd say just buy and hold, but if I was gonna do that, I'd personally wait for the correction. |
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[...] I actually think they might have more BFL products in the wild than Avalon's in the next two months.
BFL already has more product in the wild from their FPGA line, so we know they were legit at some point, but looking at their ASICs, they haven't show a single hash anywhere, they're already 4 months behind schedule, and yet they're STILL pushing and advertising them like they can't get rid of them fast enough. I'd be surprised if even a dozen customers have BFL ASICs two months from now.  |
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Because BFL is set to use far less power than Avalon units, they will remain profitable for much longer.
IF BFL can meet their power consumption target (one of the many things they've failed to do before) then this will be the silver lining for anyone who has ordered a BFL ASIC and is now biting their fingernails and pulling out their hair, watching as the network power rises, along with the exchange value of bitcoins, and all they can do is wait. Long after the Avalon and ASICminer's first gen boards have been decommissioned, BFL's will still be churning. But thats a big IF. |
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Mt. Gox really wants to be 100% out of the US/Canada market. How can you WANT to be OUT of the BIGGEST market, as a business? |
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It's an arms race [that] fills up the order books of manufacturing facilitities.
That about sums it up. The manufacturers get rich, while the miners compete for a share of the pie, and there are more and more contenders entering the game, so you have to keep expanding your operation just to maintain the size of your stake. It's proven (to me) to be about twice as profitable as buying and holding, but also 4 times as stressful and time consuming. |
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It's taking me FOREVER to get my BFL ASIC mining, I can't even get my hands on the damn thing, let alone get it running.  |
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[...] BFL doesn't even know the exact date they will ship.
Forget an exact date, they're out by 4 months on what was supposed to be a 4 month wait. They delayed it into the next YEAR. |
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just call them belt buckles.. every head shop in cali and az has them for sale.
You could sell weapons grade plutonium legally by labeling it as a paperweight, if one were so inclined. |
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Would sending them to a new address in your wallet improve anonymity?
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Is that all you make, is brass knuckles? No swords or "artistic" sculptures, just brass knuckles?
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I recently made a large bitcoin purchase and was hit with a 1.0 BTC transaction fee.
I've read all the posts about "dust inputs" and "coin age" etc etc, but it all seems like so much technical jargon when all you want to do is make a transaction.
Is there any good practice for consolidating your coin in/outputs?
Lets say you have a wallet with 100 btc. At least with the standard client, you have no idea what that's really comprised of, or how many of those are old enough to be sent without a fee.
Is there a way to mop up the dust beforehand? Instead of having to find out they're too scattered at the time you need to send a payment.
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All the shaky holders sold their bitcoins around the time of the last crash. This included the people who had large crash-able stockpiles from mining before bitcoin hit the $30 mark.
Now you have people who held at $30, and everyone who started mining since then, by which time it became that much harder to acquire large sums of BTC.
Couple that with the fact that the generation of new coins has been cut to half, there simply aren't that many low hanging bitcoins on the market today.
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Too True  |
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The confusing part is that BFL HAVE shipped FPGA product in the past, very successfully, so they've proven to be a legitimate outfit, as far as intent to deliver goes.
If you had asked me in December which companies I'd pin as the more likely scams, I would've said Avalon and ASICminer, and ironically, they're the first and currently only ones with proven ASICs, while BFL, last generation's leader, is stumbling around in the dark. 4 months of delays, while still pushing their ads? If not for their FPGA success, I'd definitely mark their ASICs a scam.
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I can't imagine the stress that goes into handling these wallets. You have 2.3 million on a computer, sure it's backed up several times, but you have 2.3 million is an artificial currency that legally amounts to nothing. You can't turn that amount of money into cash without paying 55% taxes on 100% of it because accounting doesn't exist for bitcoins, so what do you do? Just withdrawal a modest six figure salary a year to some anonymous source and leave that gigantic amount in bitcoins? The bitcoin price dropping by 1 dollar causes you to lose 60 grand, and while the vice versa also applies, there is no "long term" insurance for bitcoins because it's not a real currency. It won't last another 249329423x years, and that x could turn out to equal 5 years, you just don't know. A major sell off of bitcoins by someone causes massive deflation.
I know that the people who end up making it big are the ones who take risks in stuff like this, but jesus christ that is a little much.
The people who started mining that long ago were not in it for the money. I don't think anyone was. They were in if for the fundamental idea of what bitcoin stood for. I would think that the kind of people who supported such an idea, enough to take the time and mine them at a loss when they were worth nothing, are content in their lives and aren't dying to cash in and get mildly rich. They are clearly in it for the long haul, and I wouldn't be surprised if they actually started donating them further down the line once a few bitcoins are enough really solve some problems. But who knows. |
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I guess we're just into bitcoin before it went mainstream and sold out.
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