To me it seems they just don't want bitcoins, not that they are looking for a way to accept them. Well, i suppose it is time for jokes about aging and understanding new technologies, am i right?  It sounds like the idea has been proposed before but someone in their team was unsure and scared - looks like he with the beard (seriously - google aubrey de grey's beard - it's heroic) has decided to investigate again though. I know Aubrey very well. I will explain its benefits to him and see if he will reconsider. If the SENS Foundation had started accepting BTC donations in January then they would be sitting on a 700% gain today! |
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It drains blood (power) from the centralized government(s) (who have ceased to act in the interest of their people). Governments act today, as they always have throughout history, in the best interests of their people. Anyone who thinks something has changed recently has just been excessively gullible when it comes to the question of exactly makes up "their people". Uh, what? Governments have been known to kill and oppress their own peoples for millenia. He is drawing a distinction between the well connected elite and the labor stock. The elite are "their people", not the common man. Yes. And normally these people merge into society so it is difficult to spot them (apart from their late-model mercs), but occasionally they come to light in a spectacular manner: http://www.ft.com/cms/s/0/dd63f9c2-ee02-11e2-a325-00144feabdc0.html |
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They have demonstrated working examples of all the devices weeks ago. BFL stated they had all of the parts needed to clear the backlog.
But BFL has stopped shipping (or at least nobody is getting devices and BFL is not claiming to have shipped any).
The only reason would have stopped by now is a lack of parts. I see no other plausible reason to not ship. *
What plausible reason could there be for a lack of parts at this late a date? Did they run out of chips?
Does everyone have to wait the 100 days it takes BFL to get a new chip order in?
* Except, could they be plugged in and maybe even switched on? (extended testing?!) |
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Not before we see $30.
With the current price at $105, and assuming that the Bitcoin ecosystem has hit a temporary plateau (in its growth phase), the probability of reaching $30 is the same as it reaching $367.50 |
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Great presentation by Stansberry. Should be viewed by anyone who wants the big picture. Makes me even more Bitcoin bullish (which I didn't think was possible  ) More than that, it makes me want to leave the country entirely  No doubt BTC will see a surge, along with the PMs, but I wanna live to see it! Don't know what Stansberry's "one thing" you need to own is, but the best strategy is probably: 1) Own approx 1000+ BTC and perhaps 4000 LTC and wait until they appreciate until... 2) ...it is possible to do all the self-preservation stuff suggested here: http://www.internationalman.com/ |
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Great presentation by Stansberry. Should be viewed by anyone who wants the big picture. Makes me even more Bitcoin bullish (which I didn't think was possible ) |
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Realistically, sometime early September. Ideally, tomorrow.  That would be far from ideal. Think about it. Agreed. It is more important that $200 is sustained, not just another part of a volatile spike situation. I think January next year is the earliest to see $200 sustained. |
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We are standardizing a lot of our equipment, so we can keep massive quantities of inventory on hand (at least 6 months of production work is the goal), allowing us to crank out units - literally - 24 hours a day, 7 days a week if need be. We've hired more personnel and will be hiring yet more people as we gear up.
quote:
BFL_Jody , 07-29-2013 at 09:50 PM
Jalapenos: None shipped today
Little Singles: One shipped today (okay I gave you an actual count!)
Singles: The bulk of our orders shipped today were Singles from pay dates 6/23, 6/24 and 6/25
MiniRigs: None shipped today
Is BFL cranking out these things?  |
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Growth oh growth where art thou? Dooglus maybe knows? I think that Dooglus could rotate his chair 30 o from the SD screen to the JD screen and easily say where all the growth is. |
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so gox has no more coins - the whale can go to the futures exchange and start shorting, short more contracts than coins he has, and then start a massive dump
I suppose you mean the 796 exchange. I doubt that the BTC market would pay attention to the open interest on 796 anymore than large sneks listen to girls. |
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I know there are good reasons but to the casual observer and user it does seem that Bitcoin is a bit rough-and-ready if transactions can get "stuck" in cyberspace and the sender can't do anything about it.
If transactions can't be easily cancelled while pending, could they have a user-defined expiry date-time at origination, with a default of, say, +24 hours? Then, any unconfirmed transactions beyond expiry are deleted from the pool. Wallets can also then re-credit the BTC to the sender, knowing the amount is not going to be processed, and the transaction could be done again with a higher fee.
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Phinnaeus Gage is an excellent choice.
If he is successful then I would expect to see the BF after BFL like a terrier onto a bone! |
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It wouldn't surprise me if every single whale buy since $65 was by a different person. There are a lot of people very interested in this new phenomenon, and they each have their own circumstances, plan, entry point, tolerance for goxxing, and fear of missing the train.
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Honestly. Cyprus is dead news in the Bitcoin world. Now, if Spain or Italy announced a similar theft of deposits - that would be different. |
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Before i set off on writing more lists, an answer to this might save us a bunch of time:
If you think that using half of all the bitcoins in existence is fine, would buying & using *just one* bitcoin be just as good, assuming there are no divisibility or fee problems? If not, why?
For a country to adopt Bitcoin and completely discontinue its own currency then there needs to be an amount of Bitcoin in domestic circulation equal to the monetary base needed to support GDP. So, the answer to "how many bitcoins are needed" depends upon the world market value of them (lets use US$ value) and required monetary base . So, country X has a monetary base in XXX equivalent to $10 billion (in 2013 dollars) If BTC value is $100 then 100 million bitcoins are needed to support country X GDP. Impossible. If BTC value is $10,000 then 1 million bitcoins are needed. Country X would struggle to get that many from the market. If BTC value is $100,000 each then 100,000 bitcoins would be needed. This could be acquired today, but then need to wait some years for the value to go up (hopefully). Just one bitcoin would never be enough because the value of BTC will never be $10 billion each (in 2013 dollars). So, any country bigger than a shoebox will have to wait 'till bitcoin value climbs into the minimum of mid-five digits? You agree that bitcoin value would have to climb *first*, and then be adopted, rather than the other way around (i.e. currently=valued bitcoin gets adopted by a state & its value grows)? Snapping up bitcoins (are you watching gox?!) at today's low prices might be a great investment, but certainly not a way for a state to adopt bitcoin. Absolutely. Bitcoin is no good now to use for an entire country, BUT, now is the best time for any CB to acquire a Bitcoin holding that could be used at a future date if it decided to, which kind of gets us back to the OP. Yes. Gox is going crazy, but how much of that is scared fiat? |
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Before i set off on writing more lists, an answer to this might save us a bunch of time:
If you think that using half of all the bitcoins in existence is fine, would buying & using *just one* bitcoin be just as good, assuming there are no divisibility or fee problems? If not, why?
For a country to adopt Bitcoin and completely discontinue its own currency then there needs to be an amount of Bitcoin in domestic circulation equal to the monetary base needed to support GDP. So, the answer to "how many bitcoins are needed" depends upon the world market value of them (lets use US$ value) and required monetary base . So, country X has a monetary base in XXX equivalent to $10 billion (in 2013 dollars) If BTC value is $100 then 100 million bitcoins are needed to support country X GDP. Impossible. If BTC value is $10,000 then 1 million bitcoins are needed. Country X would struggle to get that many from the market. If BTC value is $100,000 each then 100,000 bitcoins would be needed. This could be acquired today, but then need to wait some years for the value to go up (hopefully). Just one bitcoin would never be enough because the value of BTC will never be $10 billion each (in 2013 dollars). |
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The hash rate is going mental but this does not seem to bother the fx rate. I suspect that the next halving will occur mid-2016 instead of end-2016, and this acceleration is already priced in by the market. Blocks Mined 200.00 Time Between Blocks 7.20 (minutes) Bitcoins Mined 5,000 BTC Difficulty 31,256,960.73 Hash Rate 310,758.39 GH/s https://blockchain.info/stats |
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3c. Result thus far: Even though state controls half of the bitcoins, half remain in foreign hands, and some are yet to be mined. If state backs its bitcoins
(a state backs its currency), it also backs every bitcoin that exists or will exist.4. This creates a curious situation: How much is the sum total of this new currency worth? Does it represent the state's economy, i.e. can everything of value within the state be bought for its currency? 4a. If yes, then the remaining half of BTC (in Joe Shmoe's hands) *can also buy the state's entire economy.* As you can see, Shmoe is *very relevant* here. Your point about the tide is well taken: While before buying into bitcoin, the state could float it's own boat, any attempt to do so after adopting bitcoin would result in having to float the whole flotilla So, once 3c is reached the CB is very much in a diminished state and is not a currency issuer anymore. All it does then is facilitate the state's interaction with the private sector, and regulation. It does not back the bitcoins in circulation, just like it would not back gold in a gold-based economy. The CB has moved out of the business of backing anything. CB backing of currency has been the biggest, most monumental financial disaster of the last 100 years, so this needs to change. 4 & 4a This is the situation in Panama (which uses US$) and Zimbabwe (which uses US$ and the South African rand). These countries could be "bought" but that is not really a concern. They are using a stronger currency but they do alright. Bill Gates or Apple or ExxonMobil are "schmoes" that could buy Panama right now, but they don't. And politicians can always stop unwanted purchases if necessary. |
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Not so different from my fit curve... (orange dotted line)
"The fit curve is an exponential percentual to the chart least squares fit - in other words: I played around until it looked good."
I'm not seeing your image... Should work now.... it's the same as on http://blockchained.comAh, yes. And great site. Very interesting. |
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You're a quality poster, solex, so don't take this as criticism, but what is your method for the above projection? Doesn't look like you used points of contact to draw the line, so that would leave us with (linear) regression (on a log scale). I remember that [statistical modeling guy who's name I can't remember] did that, and got a substantially lower value, but he was "massaging" the data quite a bit, so that could explain the difference EDIT: or, of course, the line is drawn "by intuition" alone. nothing wrong with that, but would be good to know. oda.krell, thanks for the feedback! Yes it is simple linear regression (least squares fit). 1100 datapoints with slope projected 300 more. The data is presented raw (from bitcoincharts.com with no massaging). I don't take this as gospel, just a rough guide. We are in the speculation forum and the best we can do in speculating is to make use of the data we have. There is no doubt that Bitcoin is on an exponential adoption phase, which has been seen with other technologies such as the take-up of mobile telephony. It will plateau at some point and skew level on charts such as the one I posted. We can have confidence that the regression line has short-term future relevance because of inertia within the Bitcoin ecosystem which is building all the time as more money and people get involved in many different countries. Not so different from my fit curve... (orange dotted line)
"The fit curve is an exponential percentual to the chart least squares fit - in other words: I played around until it looked good."
I'm not seeing your image... |
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