Bitcoin is not a small idea inside Wells Fargo, believe me... It's a big enough idea for them to call all the banks together to discuss... Buffett also probably couldn't tell you anything about his employees outside his inner circle, but I'm betting he knows every little thing the companies he has BILLIONS invested in are doing. You are right about him not investing in businesses he doesn't understand though, which is why he's increasing his Wells Fargo stake, which just happens to be the largest pro-Bitcoin bank. If you think Warren Buffett doesn't know what Wells Fargo is up to, I would suggest that you don't know what it takes to manage multi-billion dollar investment accounts.
Is this what you are referring to? http://www.reuters.com/article/2014/01/14/us-wellsfargo-bitcoin-idUSBREA0D1LL20140114Or this: http://national.wellsfargobank.com/VirtualCurrencySo they had one meeting to discuss the money laundering rules etc. They also held a seminar (focussed on regulatory compliance, risk management, and policy frameworks). I can't imagine he is in anyway involved. One meeting that was announced to the public.  I'm not saying he's involved. I'm saying he's aware and continues to shovel money at them. |
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I accept your offer of payment of 8 BTC in consideration of settling the debt of 10BTC between Yogafan00000 and Nasty Mining. Payment to be made no later than March 4, 2014 9pmEST.
Slowing down, it seems...  But if people are happy to trade 10BTC for 8BTC, I guess that's a good business. Well, in his defense BTC is significantly more valuable in USD terms now. He made out pretty well and got tired of waiting. I can understand and appreciate the 'bird in the hand' mentality. He also received 0.5 BTC in tips. |
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Warren Buffett commenting on something he doesn't understand is unusual. He usually keeps his mouth shut regarding technology investments. He cares about 1 thing, making himself money. Him commenting on Bitcoin means that he believes it has the potential to effect his ability to draw in new investment and it probably scares the shit out of him. Enough for him to step outside his box and make a comment. EDIT: Buffett actually holds a huge position with Wells Fargo, who is one of the banks trying to get ahead of the Bitcoin movement. Unusual for him to make this statement while a company that he owns billions of dollars worth of shares is pro-BTC. It is contradictory to the point where it screams manipulation. http://www.finextra.com/news/fullstory.aspx?NewsItemID=25652EDIT 2: Buffett actually just boosted his ownership in Wells Fargo as well. Seems to me that his words say avoid Bitcoin, while his money screams BUY ME SOME BITCOINS! http://www.bizjournals.com/charlotte/blog/morning-edition/2014/02/warren-buffett-boosts-stake-in-wells-fargo-again.html?page=allFINAL EDIT: Buffett is famous for saying to be greedy when others are fearful. His actions show that he is not only afraid of Bitcoin, but is buying on his fear. I can't think of a more bullish sign. Bitcoin must be such a small idea inside Wells Fargo I'm sure Buffet wouldn't know about it. He has over 330 000 employees. He lets his businesses get on with it. You can't read anything into this about his opinions. He has said before he doesn't invest in currencies (USD/EUR/etc) but in businesses (he understands). Bitcoin is not a small idea inside Wells Fargo, believe me... It's a big enough idea for them to call all the banks together to discuss... Buffett also probably couldn't tell you anything about his employees outside his inner circle, but I'm betting he knows every little thing the companies he has BILLIONS invested in are doing. You are right about him not investing in businesses he doesn't understand though, which is why he's increasing his Wells Fargo stake, which just happens to be the largest pro-Bitcoin bank. If you think Warren Buffett doesn't know what Wells Fargo is up to, I would suggest that you don't know what it takes to manage multi-billion dollar investment accounts. |
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Warren Buffett commenting on something he doesn't understand is unusual. He usually keeps his mouth shut regarding technology investments. He cares about 1 thing, making himself money. Him commenting on Bitcoin means that he believes it has the potential to effect his ability to draw in new investment and it probably scares the shit out of him. Enough for him to step outside his box and make a comment. EDIT: Buffett actually holds a huge position with Wells Fargo, who is one of the banks trying to get ahead of the Bitcoin movement. Unusual for him to make this statement while a company that he owns billions of dollars worth of shares is pro-BTC. It is contradictory to the point where it screams manipulation. http://www.finextra.com/news/fullstory.aspx?NewsItemID=25652EDIT 2: Buffett actually just boosted his ownership in Wells Fargo as well. Seems to me that his words say avoid Bitcoin, while his money screams BUY ME SOME BITCOINS! http://www.bizjournals.com/charlotte/blog/morning-edition/2014/02/warren-buffett-boosts-stake-in-wells-fargo-again.html?page=allFINAL EDIT: Buffett is famous for saying to be greedy when others are fearful. His actions show that he is not only afraid of Bitcoin, but is buying on his fear. I can't think of a more bullish sign. |
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Mark's face should be on the shirt. The lesson here is to not forget incompetence.
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CoinTerra has marked our order as shipped. No tracking number yet, but I'm figuring to have the unit up and running Wednesday or Thursday.
That leads us to needing to start cycling out our BFL Singles in preparation for our TerraMiner and Monarchs. If anyone is interested in purchasing one of our BFL Singles, please feel free to contact me. I would be open to hearing offers for our BFL Singles to eliminate debt from our loans, or trades for NastyFans seats, as well as BTC/LTC.
Also of note, one of our lenders agreed to take 8 BTC to settle their 10 BTC debt immediately, which was done yesterday.
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LENDERS:| Handle | Loan Amount | Repayment Address | Repaid | | Yogafan00000 | BTC10 | 1YogAFAnQwgyUjvVRHV2y8Uwc65JbnLkL | YES |
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Lender Yogafan00000 has been repaid. Thank you! https://blockchain.info/tx/80e44e75401eab6ad5cdd06924b3ec820716d5c505fc1443585cc0043f9403d8I accept your offer of payment of 8 BTC in consideration of settling the debt of 10BTC between Yogafan00000 and Nasty Mining. Payment to be made no later than March 4, 2014 9pmEST.
Message signature: HIe+cAT7IFHVK4BmfzU5oUfzwVarrPPJQO7CQaeWl6jbxrkRpzyCJyu+81Gai6cH6ufAap2wyfjrCBjahCTJnxA= |
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Some updates from Butterfly Labs today: I'm working on getting additional benefits for those that paid $4k for the cards. I don't want to reveal any specifics yet, but we will hopefully be able to take care of the customers appropriately.
That's us.  The engines return correct, valid nonces. That completes the functionality tests as far as design goes... there's still a new more tests to go, such as power usage, etc...
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Shouldn't I have received my unit by now? I bought some from the manufacturer a week after I paid on this group buy and I received my miners from him last week...
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FYI - I had a couple units stop mining on me this morning. I tried restarting them through the interface which didn't work, I tried unplugging and replugging the power supplies and that didn't work.
The fix was simple though. I flipped the USB hub power switch off and then back on and everything was working fine again. I'm using the controllers.
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Do you have to recover it to get the pictures, or can they be viewed while in flight? It would be a cool little community project to fund and launch one of these things for everyone to track and view the pics.  You could probably even raise even funds to add some other cool gadgets to the payload. Yes you have to recover it, as the radio module works at 50 baud rate (50 words per minute) and it would take very long to send a picture (Though using special modules you could send tiny images). 3G internet would not work above 1000m. It would be awesome to launch this year, everyone could track it because when the data is received the computer uploads it to http://spacenear.us which shows current location, altitude and info about sensors (Temperature...) Bitcoin could go to the stratosphere before reaching the moon ;P EDIT: Radio data is received in a 500km range. Could the radio be upgraded with enough funds, or is there a better method that could be used? It would be cool to see enough BTC raised to put up something awesome and have it stay up for a long time sending back pictures. I will do some research for better ways of sending pictures, but the only one I've seen is with a 300baud module. The problem is that someone has to be in range to receive pictures. There are two types of balloons, this that go up and down quickly (mine took about 90 mins to go up 31km and down) or floaters that can be for days floating and travel thousands of Km, but as said if nobody with a radio at range signal would be lost. The beauty of getting the community involved is that there are folks all over. I say you make a super ballon that will stay up longer and go farther than any other balloon of this type with a radio that is capable of sending back pictures (maybe a satellite link?). We as a community could make sure that nearby folks are helping to receive the signal and recover the unit if necessary. I think this is a cool idea and I'd throw a few bitcents at it and follow the project. I think you could easily raise enough BTC to build whatever you wanted with a solid plan. I also think if the plan went successfully, a lot of donations would be made, and probably several other units could be launched in countries all over the world. This could turn into something huge if done right and expose balloon hobbyists to Bitcoin. Perhaps even a website could be developed to fund and track awesome projects like this. If (safely) launched with a couple lit flares, you could even get a massive amount of media attention: http://ktar.com/6/814826/Man-claims-responsibility-for-Phoenix-mystery-lights |
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I really hate thread crapping, but I'll leave you with one more nugget of wisdom. You wouldn't be able to provide this service without being shut down for illegally transmitting money, just like Casascius did (or bitmit).
I wish you luck with your marketplace and hope you can figure out a way to do it. Friendly advice, never touch the coins or the funds.
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Do you have to recover it to get the pictures, or can they be viewed while in flight? It would be a cool little community project to fund and launch one of these things for everyone to track and view the pics. You could probably even raise even funds to add some other cool gadgets to the payload. Yes you have to recover it, as the radio module works at 50 baud rate (50 words per minute) and it would take very long to send a picture (Though using special modules you could send tiny images). 3G internet would not work above 1000m. It would be awesome to launch this year, everyone could track it because when the data is received the computer uploads it to http://spacenear.us which shows current location, altitude and info about sensors (Temperature...) Bitcoin could go to the stratosphere before reaching the moon ;P EDIT: Radio data is received in a 500km range. Could the radio be upgraded with enough funds, or is there a better method that could be used? It would be cool to see enough BTC raised to put up something awesome and have it stay up for a long time sending back pictures. |
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Do you have to recover it to get the pictures, or can they be viewed while in flight? It would be a cool little community project to fund and launch one of these things for everyone to track and view the pics. You could probably even raise even funds to add some other cool gadgets to the payload. |
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Sending your physical coin to the same place your funds for it are being sent is just not smart and I would hardly call it escrow without a trusted 3rd party.
I couldn't imagine mailing someone a 1,000 BTC coin at the same time someone else pays them 1,500 BTC for it and then expecting to see either the funds or coin again.
I like what you're trying to do and there is a need for it, but your implementation is flawed and a centralized marketplace with this current business plan would only damage the reputation of Casascius coins themselves, devaluing the market for everyone. I personally have only bought 1 Casascius coin secondhand ever, and I only purchased it because the person selling it was a moderator here. If these coins start trading hands willy nilly to anybody with anonymous middlemen, in tact coins will begin being emptied and the guilty party won't be reasonably identified. It will destroy the secondhand marketplace for Casascius coins, as the seller will no longer have any liability and will blame the middleman, regardless of if the seller is being dishonest and pinning the theft on you, you were dishonest and stole the coins, or the buyer was dishonest and stole the coins and then complained it was the middleman or seller.
This idea will end in tears, as the buyer of a compromised Casascius coin will have no recourse but to call you and the seller scammers without being able to identify the guilty party beyond a reasonable doubt.
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I'm curious to know about the state of our incoming hardware I guess it's very near? I haven't heard anything from CoinTerra, although I can see that they've been shipping units. I think we are entitled to some kind of additional compensation if we don't receive something from them very soon... The last word I heard from BFL is that they are testing waterblocks for the Monarch. Considering they are just now testing waterblocks, I would guess it will be at least a month or more before they start shipping. Black Arrow has been sending me updates on their progress, but it looks like they're still targeting a May ship date. Alpha Technologies frequently sends updates as well, but they also look to be shooting for a May ship date. So basically, we are still in a holding pattern. I have been working with a designer on a new physical product, but that is several months away from making an appearance as well. |
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I think the idea of a market for these coins is a good one. I just don't understand why you would want to handle the physical goods. Could you imagine if eBay ran their business that way?
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Besides the OP not having the appropriate trust rating to offer a service such as this, I would question the business model regardless of who was offering it. What would stop someone from offering a service like this to use the coin hack to get the private keys from everyone's coins? There is a reason why it has become popular to get a PGP signed statement saying that coin seller is the original owner. I think this is a bad idea all the way around. Any service that introduces more risk under the guise of being more secure smells fishy to me. |
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You might want to change the home page  it still links theoretical value to Gox  I discussed this issue with nonnakip several days ago. The main concern was getting the pricing for our coins using a correct exchange rate, which has happened. I'm not sure exactly how nastyfans.org is coded, but I'd imagine that changing the exchange rate for the site is more involved then just pointing it at a new API. I'd also imagine that decisions need to be made, like how to handle past recorded USD data for the charts, what rate we want to trust going forward, and probably more that I am unaware of. Rest assured that nonnakip is aware of the issue and I'm sure it is on the TODO list. |
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To clarify "Mine were the same"...do you mean the power cables for the miners or the power cables for the PSUs?
I mean I have the same cables as you, as in the red/white and the green/white/black. The white/red cables go according to the Gridseed guide picture and the PSU cables go like this picture: https://dl.dropboxusercontent.com/u/117000/scryptminer/PSU2.JPG |
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