I can think of easier ways to throw away BTC. cex.io is a neat idea, but the problem is ultimately, the only seller of GH is bitfury. Why would anyone expect them to sell below their expected mining revenue? Its just a good way for them to sell some of their hashrate to the biggest fools.

How do you think MPP is going to save your ROI? For about the same price as the hardware, MPP gives you 4x the hashrate >3 months later.    
THe network currently is more than doubling each month. As long as that keeps up, three months later means less than 1/8th the revenue per GH.  

ALso note HF is not promising anything about when it will ship the MPP modules other than it will after 3 months. Could be 3, 6 or 12 months for all I know.
..
You would have been far better off buying twice the hardware without MPP.

Fun stat of the day.

The network seems to be close to 3PHs right now and daily growth rate is ~3.5% (1 week avg):
http://bitcoin.sipa.be/

Thats 105 THs thats added to the network per day.
Or 1.2GHs per second

Roughly a Jalapeno every 5 seconds, or a KnC jupiter every 5 minutes.
Every hour of the day, every day of the week.

No one should. IF you have a brain, use it and draw your own conclusion based on the evidence available to you.

I can do that too. For only $25!
Well, you know, 12.5 BTC.

I feel I need to make a correction. Of all his schemes, there may have been one that was an actual business and perhaps even profitable for a while. I dont know for sure, but  cannabis usually is and there is no denying he did have the .. 'hardware" :
http://ricerca.gelocal.it/lanuovasardegna/archivio/lanuovasardegna/2006/09/12/SW1SD_SW103.html

That would be a continuous process, I see no particular reason why that would have happened with several 100 TH at the same time, and with hashrate that wasnt present on any of the major pools.

Seeing short term average just shot through 3PH, perhaps it was just a statistical anomaly after all

The number of investors is irrelevant, what matters is the money they invested. And no amount of trading or flipping changes the fact combined they invested IPO price and only got divs in return. Whatever some lucky investors gained by flipping at the right time was lost by others.

Interested in buying a brand new samsung galaxy S4 for only $20 ?
=10BTC

if you sign up at cex.io, your account lets you log in to ghash.io, and you can define your workers etc like with any other pool. Its not that private.

There is no doubt its illegal in the US (and EU, china, japan,. well pretty much anywhere really) to sell unregistered securities and there is no doubt that is what picostocks is doing. There is a reason GLBSE closed, BTCT closed, Bitfunder recently blocked US investors for a start (no reason to assume EU investors wont be next) etc.

That "not operating in the US" argument has been debunked so often now... is picostocks available to US investors? If yes, then they are operating in the US.

And you are going to have a bloody hard time explaining this is not somehow pledging shares. Picostocks lists them as "cointerra" shares, not some unnamed passthrough for dividends only, which wouldnt be any more legal btw and begs the question what you are actually buying. Eg, what happens when someone buys cointerra? Do your picostocks "PT" become worthless? Or do they represent actual company shares?

Yep. Im not sure how it would look like in the screenshot, but I would ask one of the "workers" page. Its not going to prove anything conclusively, but could be interesting nonetheless.

OH wait, they are using ghash.io? LOL. Guess who does too:
https://cex.io/

Very easy to get a few TH that way, very difficult to post pictures of something you actually own and doesnt look like a bitfury.

Hows is that? Labcoin supposedly still has half the IPO money, assuming thats even true, with the other half they could easily have purchased 100 KnC's, good for 50+TH.
How is 5TH supposed to be impressive for a 7000 BTC IPO?

And of course, their miners are still invisible on video or photo's, right? They can deploy 5TH but cant take even a single pic?

AFAIK, this bitmine chip is (on paper) the most efficient one (not yet) out there. While IM no believer of ROI at current hardware prices, its equally unthinkable this chip will not be operationally profitable next May. If this chip isnt, nothing is; and I cant believe that so many miners would continue deploying and running their miners at an operational loss, not just an overall loss.

Therefore, your network growth scenario is simply wrong. I also do expect to see a few more months of exponential (more or less doubling) growth, but not 6 let alone 12 months.

Whether or not the chip will ever earn itself back, will depend almost entirely on bitcoin price (and yes I know, holding is wiser) and on how long you intend to keep running more efficiently than the network. If you cant run more efficiently, ie with less electricity cost than the network, then you never will. If you can, it may take many years, but eventually it will pay back its investment, unless significantly more efficient chips get deployed.

It doesnt say that at all. IN fact if you google around you will find plenty of people who never got either a refund or a tablet and couldnt get a refund from paypal for the same reason BFL customers find it difficulty to get a refund. Why do you think they stretched it so long? To get beyond the 45 day paypal refund period. Im too lazy to find better links (and considering the indisputable scams he was involved in anyway I dont see the point) so this will have to do:


They still have people who paid for a device they never got, and haven’t receive refunds. Now I understand that the reason they havent gotten refunded is paypal’s policies, but reason paypal’s policy kicked in was because of bad behavior on the part of Enso, so they need to own up to that, and stop trying to shift blame, and promise to resolve it, even if they have to issue those refunds out of their operating budge.
http://www.the-digital-reader.com/2010/08/01/enso-just-announced-3-new-android-tablets/?wpmp_switcher=mobile#.UmFmM4a-3Po

where does it say everyone was refunded?

Call it what you want, he ran of with 10s of thousands of BTC by now, and some people, yourself included, still believe he is honest. I find that a far more successful scam than what pirate did.


Let me guess, you only read the reddit thread he posted himself, not what for instance, engadget wrote at the time:
http://www.engadget.com/2010/04/09/ensos-zenpad-is-vaporware-get-refunds-while-they-last/

Oh, and I forgot one more failure in that list. Wozad.com, the company that was going to generate $5 billion and kill google.

How many successive million dollar complete and utter "failures" does it take before a red light starts blinking with you ?

I never understood this reliance on theseven. I mean, he seems like a nice enough guy, and probably knows his stuff, but his stuff isnt designing asics.
By his own admission he never designed one, and he isnt at all confident in his own abilities to do it properly, if at all.

If theseven was the reason for investing in labcoin.. how does that even make sense?