Taking into account the skyrocketing difficulty increase, these things won't even break even after a year of continuous mining.
Why are we buying these again?
I asked the same question, ASICMINER claim to have sold 4,000 units, that's, right 4,000 x .3GH/s = 1,200GH/s I just laughed. That's 8,000BTC wasted, you realize how much hashing power you could get from Avalon or BFL for that money? Had you bought 20 x 66GH/s Avalon boxes for 75BTC each and set up a community farm, you would be hashing more than the entire network of Block Erupters, and saved yourself around 5,500BTC. I can't believe that so many people have been sucked in by what is clearly the ASIC ripoff of all time! |
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Speculative nonsense, how much do you think someone with a few Avalon boxes and a bit of luck could do? I agree it is totally speculative to claim it is BFL, but it is more than a few Avalon boxes. Based on the rate they are hashing, if they are using Avalon boxes it would be between 50 and 100 of them. Nonsense, it could be just plain luck, it's certainly a pool with some hashing power. If you bothered to check the IP where the blocks were generated you will see they were from all over the word. |
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The thing about all the people waiting to buy BTC around 50.... there's going to be people trying to get an edge on them by buying around 60, 70, 80...and then people like me buying a bit around 90...... as such, the battle between bear and bull never fails to cease.
In order to buy at 50 you have to find someone that thinks it's only worth 50 to sell it too you. If people are starting to think that 's all BTC is worth then we have a problem. |
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That link it BS people making wild guesses. |
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Speculative nonsense, how much do you think someone with a few Avalon boxes and a bit of luck could do?
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I think that they are an investment.
BTC cant stay at ~100$ forever if its going to be "successful".
With only 21 million coins, market liquidity won't be possible with only $2.1billion money stock.
The good thing is that Bitcoins ROI time is shorter than traditional investment methods.
Its still a gamble, and with all big rewards, comes big risks - just as it has been like at every step of Bitcoins existence.
The problem is that BTC price is not rising in relation to difficulty increases as it should be. The US gov has gone out of it's way to make it harder to get $USD into BTC exchanges, and there are periodic rapid BTC sell offs driving the price back down, when it should be rising. I keep seeing this myth coming up. Amount of BTC mined doesn't go UP. The difficulty adjusts itself accordingly so that we get an ideal confirmation time of 10 minutes, so the amount of BTC being mined is a CONSTANT, it's simply distributed in progressively slower amounts as more miners join the game. More pigs, SAME TROUGH, SAME SUPPLY. it simply takes more time to create the same amount of btc now. That is why the final creation of 21,000,000 coins has an exact date to it, otherwise it would be unpredictable. WTF are you talking about? I am talking about the BTC price and you go off on a tangent about the rate of coin mining. |
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I think that they are an investment.
BTC cant stay at ~100$ forever if its going to be "successful".
With only 21 million coins, market liquidity won't be possible with only $2.1billion money stock.
The good thing is that Bitcoins ROI time is shorter than traditional investment methods.
Its still a gamble, and with all big rewards, comes big risks - just as it has been like at every step of Bitcoins existence.
The problem is that BTC price is not rising in relation to difficulty increases as it should be. The US gov has gone out of it's way to make it harder to get $USD into BTC exchanges, and there are periodic rapid BTC sell offs driving the price back down, when it should be rising. |
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It would surprise me that Bitcoin would appeal to bankers, I thought they would see it as a threat due to the lack of usury? |
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This is supposed to be a stable currency, not a casino.
You must be new here.  Bitcoin isn't going to be stable for a long, long time and that's because the speculators need to figure out whether they are worth 0 or 100k. The value is something that can be worked out over weeks or months, not minutes. |
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Patience. Are you here to speculate or do you believe in bitcoin? I'm in this for the long haul and the trend has always been up with corrections along the way. You can panic and sell at a loss or hold and wait for it to recover which it always does.
Trouble is that to have over 10% of the value of a currency wipes off in a matter of minutes, shows a total lack of stability, and does not go well for promoting crypto as an alternative to fiat. Mt Gox crappy software is to blame, they are killing crypto uptake. The buy and sell prices should have restrictions based on a weighted average, so you can't place too high or too low orders. Also their API orders should have time delays to prevent high frequency trading. This is supposed to be a stable currency, not a casino. |
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It's interesting to look at the Bitcoinity chart for the past 12Hours, BTC flat no volume stable, then all of a sudden, around the time Europe wakes up, bang huge volume, down goes the BTC price. It's like it was a coordinated attack on the price, but to whose benefit? Is there a futures market for the BTC/USD price where you can sell short leveraged and would gain from manipulating the price downwards?
its miners selling are you an idiot really thinking its an attack.. jesus have mercy on this stupid soul Speaking of stupid souls, perhaps you need to work out how many BTC are mined in a day first, I will save your poor brain the headache and do it for you 144 blocks of 25 coins = 3600 BTC mined per day. 85,000 BTC have already moved in this dump in the past few hours, of which the recently mined portion is insignificant. All the miners suddenly wake up at the same time and say 3..2..1...sell! Yeah right. Even an idiot miner knows the to sell little parcels slowly is more profitable then all at once in a dump. |
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It's interesting to look at the Bitcoinity chart for the past 12Hours, BTC flat no volume stable, then all of a sudden, around the time Europe wakes up, bang huge volume, down goes the BTC price. It's like it was a coordinated attack on the price, but to whose benefit? Is there a futures market for the BTC/USD price where you can sell short leveraged and would gain from manipulating the price downwards?
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Hmm, can you please explain a little more about what the actual issue is? When people do the "51% attack" they can actually create a second chain that pools lock on to (this is what the "fork" is?)? And in the case of one of the forks, how does the pool know which one to follow? And the pool owner?
(Not trying to be sarcastic at all. I'm still pretty new to cryptos so my knowledge on the "technical" side is pretty lacking)
What I think is happening with FTC is that the automated pool hopping is corrupting the block chain. Yesterday FTC net rate was plodding along at about 170MH/s then multipool suddenly threw another 85MH/s at it taking it to 265MH/s and about half an hour later there was another sudden jump up to over 500MH/s I presume as a result of people using profitability sites like Coinchoose/CoinWarz to target their mining focus. Because FTC has a long confirmation delay, it was about 15min when this happened, a little bit of luck with the new miners and they can find a couple of blocks in this time and have a longer block chain. Kind of like a 51% attack. Some people think there was a deliberate attack on the FTC chain yesterday, but I haven't read a plausible explanation of how this would be done. You would need several hundred MH/s and that's a lot of GPU's to control. |
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Multiport stats page is now live. The data is a bit sparse at the moment but it should give an idea of what's been going on for the past 24 hours.
That's awesome! Depressing to see half of our time was wasted with FTC but there was no real way of knowing. I'm hoping FTC pulls out of this and perseveres! If a pool locks onto the wrong block chain, it's not the coins problem it's the pools for not picking it up quick enough. There is nothing peculiar to FTC code it all comes from BTC->LTC and is found in dozens of alts which have exactly the same flawed code. All are vulnerable, and this has to be taken into consideration by the pool owner. |
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BFL_Josh -
Yes, that is correct. We will still need to assemble the units, but they go together very fast. So far, it's looking like 400 a day was a conservative estimate (that's 400 aggregate across all product lines, not 400 per product line). With a partial team going on the Jalapeno's, we can easily do 200 in about 5 hours. With a full team and more practice, an 8 hour day would yield at least 400 Jalapeno's + whatever singles and MRs can be put together in that time. https://forums.butterflylabs.com/bfl-forum-miscellaneous/3144-ls-s-mr-status-speculation-2.html#post39339Looking good. |
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Looks like we found another FTC block, seems like people want to mine it enough that they switched from the multiport to directly mining it.
Do you guys want it back on the multiport? I'm going to have to increase confirms back up to 120.
I do! I was going to swap to another pool for FTC while waiting for you to fix the problems, but this will resolve it too, :p. If this block isn't orphaned, and nobody else complains, I'll add it back in the morning. Sounds perfect. Thanks! According to the FTC forums, the problem was caused by someone running a 51% attack on the pools, plus DDOS'ing some. They said the has rate went from 400MH/s to over 1.5GH/s and then it started getting tons of orphans from one of the pools. It appears to be fixed now. It's interesting that they started DDoS on Choinchoose at the same time, definitely targeting miners. I would like to know why several FTC and round shares have been removed from my account over the past few hours and the FTC manual payout doesn't do anything? I have since moved my FTC hashing to another pool. |
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I was watching the FTC price from the start of the rise and saw something interesting. When the price reached a certain level, FTC jumped up the mining profitability charts and instantly the automated pool at http://www.multipool.in flicked over to mining FTC, that added about 85MH/s when the rate was only 170MH/s which was a 50% hike that made me smile. The sustained price increase for several hours has started getting other miners to switch their rigs to FTC and the current block rate for the last 20 block is down to around 15min. Meaning the next diff change will come a couple of days earlier. |
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Errrh? If you ordered the 22'th, but did not pay until the 30'th, your order is shipped with the other ones paid the 30'th.
That's right. So it's best if you pay when you order. |
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