yup ... any thoughts on what that will do to the market ... or sense it was a day or so ago do you think the market has already reacted ?
Plus trading at Mt.Gox is paused right now
I don't think it will have much of an effect on price. All this does is remind everyone that security is very important. and the users of bitfloor lost some coins. so.... they MIGHT wana buy back in when they get their USD back from bitfloor |
|
|
|
their appears to be not much activity on this sub forum. Is their life after bitcoin? what will this do to the exchange rate?  lol |
|
|
|
 will you look at all these crazy people selling bitcoins  |
|
|
|
I think its clear that Micon is a scammer. Last night I was at a table at sealswithclubs.eu with over 50k chips (50btc) and he sat down and took it all within a couple of hours. Straight up ruthless thief. GIVE ME MY MONEY BACK MICON.
wow 50BTC on sealswithclubs.eu people are crazy! |
|
|
|
I didn't really know on what to expect, but since bitfloor just blew up right after pirate... we are heading down, no question about it.
haven't you been paying attention? when there's a hack price goes up! not down.... bitfloor should have taken the necessary steps to ensure their cold storage was indeed cold! all this hack is going to do is make people need to buy coins again. From what I have observed it accelerates a trend. During bitcoinica we were up, so we went up faster. Now we are down and gonna go down faster, otherwise the whole mybitcoin 31.9 bubblepop wouldn't make sense. back in the day  , investors we're scared for their own coins when they heard people were being hacked left and right now a days, people understand wtf is going on, and they have their coins on paper or a usb or somthing offline. when they hear about people bitcoins being hacked they feel sorry, yes, but not scared. you wont see any "omg i might be hacked next" panic selling. |
|
|
|
I didn't really know on what to expect, but since bitfloor just blew up right after pirate... we are heading down, no question about it.
haven't you been paying attention? when there's a hack price goes up! not down.... bitfloor should have taken the necessary steps to ensure their cold storage was indeed cold! all this hack is going to do is make people need to buy coins again. |
|
|
|
it will make it easy for anyone to get into bitcoin minning.
I never mined b4, because it was to hard to setup, but now i will be mining at 40GH/s
This. None of my family/friends want to get into bitcoins, because they see my GPUs and their wicked loud fans, and that's not them. They're not computer geeks who LIKE playing with hardware and mhz and PSU inefficiencies and and command line mining programs and........you get the idea. Now could I convince my brother or a couple of my nerdier friends to plug in a coffee warmer and download EasyMiner? Sure! right so this means mining is not going to be profitable anymore everyone will spend 1500$ and get 0.1BTC / day costing them 10$ of electricity Wtf? I'm sorry the adoption of Bitcoin is getting in the way of your mining. Also, the Jalapeno is $150, not $1500, who knows what 3.5GH/s will make for BTC in 6 months or a year, and a 5W USB miner will take a LONG time to consume $10 worth of electric. My point stands though. For a non technically-minded person, a plug-n-play solution can do wonders for Bitcoin's adoption. mining bitcoin is always broader line profitable. as soon as its more then broader line profitable more people jump on board BFL Jalapeno is going to make this even more true. 1 thing is for sure BFL Jalapeno's is going to bring more miners (alot more). it will come to the point where the difficulty will be so high that it will take 10$ worth of electricity for a Jalapeno to produce 1 BTC that or everyone that actually goes out and buys a few Jalapeno will make lots of profits for many years |
|
|
|
it will make it easy for anyone to get into bitcoin minning.
I never mined b4, because it was to hard to setup, but now i will be mining at 40GH/s
This. None of my family/friends want to get into bitcoins, because they see my GPUs and their wicked loud fans, and that's not them. They're not computer geeks who LIKE playing with hardware and mhz and PSU inefficiencies and and command line mining programs and........you get the idea. Now could I convince my brother or a couple of my nerdier friends to plug in a coffee warmer and download EasyMiner? Sure! right so this means mining is not going to be profitable anymore everyone will spend 1500$ and get 0.1BTC / day costing them 10$ of electricity |
|
|
|
I understand BFL took a long time to ship their FPGA, but if we dont order from BFL... then how do we stay in the game? my 6 video cards are going to go from making me $250 a month to $25 here in a couple months... if i am getting even less then a $100, then im just going to throw my cards in gaming rigs and craigslist them as budget gamers.
it will make it easy for anyone to get into bitcoin minning. I never mined b4, because it was to hard to setup, but now i will be mining at 40GH/s I think hash rate will go up so much its going to be unbelievable not only did the hardware get 10X better but there will be 10X more miners! |
|
|
|
seriously, this is why people hear hate BFL?
shady business tactics broken promises buddy system need more? i dont care, I just want my 40GH/s PLUG AND PLAY Bitcoin mining rig  |
|
|
|
I guess i missed it...
why does no one like BFL?
what happened? what did they do or not do?
You didn't hear? bitcoinasic.com started selling ASIC pre-orders with no proof of an actual product, so now we're free! Everyone can now hate BFL for selling ASIC pre-orders with no proof! [pitchfork]Down with BFL![/pitchfork] [/sarcasm]seriously, this is why people hear hate BFL? |
|
|
|
IMO, a crash below 9$ is about to happen, why is it so hard to hit the sell button?
two days ago you were promising a huge rally today after the long weekend in the USA would be finished oh right its hard to hit the sell button, because a rally SHOULD be starting today. the ask depth is down right depressing. or does it look bad because the bid depth is so low? looks like buyers are holding off waiting for a good sell-off and sellers are waiting for a better price. i don't expect to go much below 9$ and i can't see us going over 12$ any time soon so what now... is 10$ the new 5$ |
|
|
|
|
IMO, a crash below 9$ is about to happen, why is it so hard to hit the sell button?
|
|
|
|
I think someone is talking BS. Most likely currently even NSA would have a challenge directly attacking Bitcoin with a 51% attack. I can't believe they have the right kind of hardware just laying around in those quantities. Remember that regular super computers are very inefficient at Bitcoin mining and even the fastest known super computer can do jack shit against the Bitcoin network. Perhaps some entity has enough conventional hardware to take a shot at it, but it won't be easy.
When ASIC's come online it is absolutely guaranteed that no one in the world can even dream of taking Bitcoin down without carefully planning it and investing a hell of a lot of money. That IS an improvement.
The NSA specializes in cryptology and they don't have the right hardware?  http://www.pbs.org/wgbh/pages/frontline/homefront/preemption/nsa.html------------ People talk about the NSA having the fastest supercomputers in the world and having the largest concentration of top mathematicians in the world. What is that about? ... You're dealing with fairly sophisticated communications, particularly government communications; a lot of that is encrypted. It's put in the form of a code. These are very sophisticated systems that are developed by computers, and the only way to break those codes or those encryption systems is to have faster and more powerful computers than the computers that put them together in the first place. So NSA has the largest collection of supercomputers in the world. It has one whole building, several floors -- it's called the Tordella Supercomputer Building -- where all they have are supercomputers, the fastest and most powerful computers in the world. Plus, they have parallel processing there, which ties large numbers of computers together and makes them seem like one very giant computer. So NSA uses all this computer power for a number of reasons. One of them is to try to break these codes. The hardest way is what's known as brute force, which is when you take all that computer power and put it on one problem and use all that force to try to break that system using every possible word/letter/phrase combination you could possibly use, that kind of thing. What they look for most often are breaks in the system, what they call busts, and that's where somebody does something wrong; somebody makes a mistake; somebody is about to type a password, and they think they're typing it into their secure system, and they accidentally type their password into an open system. That's a backdoor way to get into the system. ... ------------- so they have a building of computers working some number problems. ( trying to break encryption b4 anyone else can ) GOOD! once they break today's encryption. and create another better encryption, bitcoin / all the world encryption can switch over to this new form of encryption no they can not use their computing power to try and 51% bitcoin. their computers are needed for far more important number problems... |
|
|
|
|
I guess i missed it...
why does no one like BFL?
what happened? what did they do or not do?
|
|
|
|
New withdrawals are currently on hold while I work through the future of the exchange.
That is unacceptable. Regardless of the future of the exchange you have an obligation to disburse funds to the ACH account on record. You previously handled requests by email. USD funds by depositors are the property of the depositor and not an investment. You have no legal standing to hold those funds pending "anything". Since it seems shtylman missed it. Let me make it more clear. You wanting to continue bitfloor is admirable but it has absolutely nothing to do with client funds. The only purpose of those funds is for CLIENT to purchase bitcoins. Since that is no longer possible the funds should be returned immediately. Not in week, not in a month, not after you get "hacked" again and the attacker makes a bank wire withdraw of all the USD funds to some foreign bank. ya sending everyone's money back seems like a good first step. then rebuild a better system, and start making money again. |
|
|
|
@serge, ASIC (if real) will have a definite short to early mid-term effect on price, due to the massive amounts of coins produced early on before difficulty catches up. As BFL will most likely trickle these out, it could take months (possibly up to a year) for difficulty to catch up. Until that happens, there will be a higher than usual amount of downward pressure on the market.
ASICs will have huge indirect impact on Bitcoin economy from network security and stability stand point where Bitcoin will be taken more seriously by outside folk seeing it now (when asics hit market) runs on its own specialized hardware, which had to be R&D'ed first - this should provide great level of confidence in network and the project over all. It won't be looked as though any pc gamer could mine Bitcoin with their GPU - for some outside people this fact provided plenty of fuel to ridicule the project without giving much thought what is it and how it works on the inside. ACISs are GREAT step forward for Bitcoin. Why do you think you understand 'outside folks' behaviour and why do you think they would care about how bitcoin is generated? How (in what amount) will ASICs influence network security and stability and why would this be enough for a huge impact on how 'outside' people see bitcoin? Remember that ridicule itself never prevented anything substantial from becoming popular, just helped it getting burried after it peaked. It greatly influences the security by eliminating an attack vector that is 10-100X as efficient as current mining. If the NSA (who has their own foundry) wanted to attack bitcoin, they could easily produce their own asics and 51% the shit out of the current network for only a few million dollars. Once ASICs are in the wild, they once again are forced to compete on number of units and that is a much harder battle to win. Even if/when ASICs are available the NSA could crunch the 51% if they wanted. They would have no need to get investment back so can design their own stuff and duplicate them for realy realy cheap. And as if the NSA has no SHA crunching capabilities already... NSA SHA capability > bitcoin community SHA capability. And this will not change anytime soon. The point is once they are in the wild it becomes between 10 and 100 times more expensive to perform the same attack. How is that not an improvement? An improvement relative to what? NSA has incredible crunchies. BTC community generating BTC, even with ASICs, is childs play. lol, why don't you show us how its done. admit it your talking out of your ass wtf dose the NSA have to do with this anyway....do they have 2000GH/s lying around doing nothing? I didn't bring NSA up. I just pointed out that if they wanted they could create a 51% attack with their current computing capability. ASIC mining won't change that. Moreover, they have a bunch of high end crypto-freaks working for them. And they are investing in quantum computers. If they happen to find an SHA256 algorithm for quantum computers then no ASIC will save you. the crypto-freaks working for them, actually work for us  their computers are necessary, its not like they can simply turn their computing power over to bitcoin... I'm not convinced their computing power is enoght to make a dent in bitcoins computing power... point me to so hard facts? quantum computers..... not in my life time! |
|
|
|
@serge, ASIC (if real) will have a definite short to early mid-term effect on price, due to the massive amounts of coins produced early on before difficulty catches up. As BFL will most likely trickle these out, it could take months (possibly up to a year) for difficulty to catch up. Until that happens, there will be a higher than usual amount of downward pressure on the market.
ASICs will have huge indirect impact on Bitcoin economy from network security and stability stand point where Bitcoin will be taken more seriously by outside folk seeing it now (when asics hit market) runs on its own specialized hardware, which had to be R&D'ed first - this should provide great level of confidence in network and the project over all. It won't be looked as though any pc gamer could mine Bitcoin with their GPU - for some outside people this fact provided plenty of fuel to ridicule the project without giving much thought what is it and how it works on the inside. ACISs are GREAT step forward for Bitcoin. Why do you think you understand 'outside folks' behaviour and why do you think they would care about how bitcoin is generated? How (in what amount) will ASICs influence network security and stability and why would this be enough for a huge impact on how 'outside' people see bitcoin? Remember that ridicule itself never prevented anything substantial from becoming popular, just helped it getting burried after it peaked. It greatly influences the security by eliminating an attack vector that is 10-100X as efficient as current mining. If the NSA (who has their own foundry) wanted to attack bitcoin, they could easily produce their own asics and 51% the shit out of the current network for only a few million dollars. Once ASICs are in the wild, they once again are forced to compete on number of units and that is a much harder battle to win. Even if/when ASICs are available the NSA could crunch the 51% if they wanted. They would have no need to get investment back so can design their own stuff and duplicate them for realy realy cheap. And as if the NSA has no SHA crunching capabilities already... NSA SHA capability > bitcoin community SHA capability. And this will not change anytime soon. The point is once they are in the wild it becomes between 10 and 100 times more expensive to perform the same attack. How is that not an improvement? An improvement relative to what? NSA has incredible crunchies. BTC community generating BTC, even with ASICs, is childs play. lol, why don't you show us how its done. admit it your talking out of your ass wtf dose the NSA have to do with this anyway....do they have 2000GH/s lying around doing nothing? |
|
|
|
 Tension is mounting that's for sure! |
|
|
|
|
Show Posts
