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I consider profitable anywhere from 7 to 9 bitcoins per day. Not 1.
If you don't keep upping your hashrate, you just keep earning less and less each day.
Right now, you need a good 400GH/s to earn 7 to 9 bitcoins per day. Imagine by August. Current ASICS are way overpriced. There is either going to be a huge drop in prices soon or a major disatisfaction from miners earning less than 1 btc per day. (Of course, for previous GPU owners that is an amazing amount of cash for them)
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One thing to note:
FastCash4Bitcoins had a better set up (IMO).
They constantly update their current available balance in BTC to USD transfers, only offering up openly how much cash they actually do have in reserve. The amount available at any given time is seemingly divided by the number of orders there are among checked out users.
So the balances are always not round numbers.
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BitInstant though, they always keep either a round number (500) or they don't show any number (out of reserves).
So when they (BitInstant) probably has a heavy day of sales, they "over sell" the capacity of reserves.
Thereby always opening the door to complaining customers who have to wait *days* for BitInstant to fill up reserves with Bank Transfers, money that clears at an exchange and gets reloaded into reserve account(s).
It does seem to keep happening every couple of weeks these days. It also explains why users are attended to at different days rather than all on the same day and hour.
Meaning there is probably a finite financial pipe that BitInstant seemingly has that restricts how fast they can refresh their reserves. If I recall correctly, they even admitted this the last time it happened. Supposedly it was going to get fixed....
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How are you supposed to use services like BitInstant, anyway? If you try to send Bitcoins to a Paypal or bank account (ACH) they ask for amount in USD. That makes no sense...
Our system internally only deals with USD, the new bitcoin payment method simply sends BTC to a partner who sells it on our behalf for X amount of USD. I take it your partner would be MtGox. User Pays BTC @ -5% Mtgox price > BitInstant Acknowledges the Transaction > MtGox Sells the BTC @ 100% to USD > BitInstant Transfers USD from it's reserves pool to the Customer via Paypal Or Bank Transfers. At a specific time of the day, the MTGox USD are then probably converted in part (95%) to BTC while the rest stays in USD. Then begin the entire cycle again. In a few hundred rounds you'd easily make a million without much effort from all the automation. |
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i mean, who wouldnt want to order a product now and get it shipped tomorrow ?  Right, so in order to achieve that let´s sue them, get their asses in prison and shut down/impede the production so that no one will ever receive their product, or at least delay the production even more. Yeah, that’ll work. Well, fuck that part of the community that is working on that. Well, BFL has a long tail to step on. People have had alot of trouble, ergo... people will do whatever they think is right.If their past troubles bring down BFL then it is all on BFL. If people have an order with BFL they should just see their own interest and not throw a wrench in the works, now that BFL is finally shipping. If they don't have an order, then they should just mind their own business and quit playing the Unsolicited Captain Frickin Avenger, and let the others receiving their products. <Shrug> Opinion Noted. I don't think anyone can stop that process at this point anyway. I just heard yesterday that BFL has already been officially served already by one group at the very least. I haven't heard from the others. If you knew some of the details on one case at least, I think there is a good reason or chance that many customers would actually worry because there is a non-zero chance it would impact things. So lets hope BFL clears their queue before they are affected enough to impact their delivery schedule. Just keep an eye out on BFL and see what happens or if anything even changes and then take the cue from there. Edit: Or Add me to the ignore list so you guys don't get to know any of that. No signs for the blind curves up ahead makes for a happy customer. |
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i mean, who wouldnt want to order a product now and get it shipped tomorrow ? Right, so in order to achieve that let´s sue them, get their asses in prison and shut down/impede the production so that no one will ever receive their product, or at least delay the production even more. Yeah, that’ll work. Well, fuck that part of the community that is working on that. Well, BFL has a long tail to step on. People have had alot of trouble, ergo...people will do whatever they think is right. If their past troubles bring down BFL then it is all on BFL. (In my opinion) |
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i mean, who wouldnt want to order a product now and get it shipped tomorrow ? I wouldn't object to that either. It would be nice to get it on demand. |
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The first single :-) Probably there will be only this one and that's why it's called single  Funny because it's slightly true in terms of extreme put-off attitude from BFL. Hope they get sued back to prison. The community is working on it. Their lawyers will probably be powered by BitCoins and Singles no doubt.... |
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There are people on BFL forums who state they received only part of their Jally orders from a particular order date.
If they had 4 they got 2. If they had 8 they got 2 or 4. Etc.
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finally its happening but how many can they build/shipout is the main question... no one wants to get their units by XMAS and miss out on all the fun, will become a paper weight
Seems like a whole lot. seeing as they are almost done with august japalepno orders already. Really just seems to be constrained to the supply of boards they get from their assembly house. post on bfl forums from guy that visited and commented on assembly of jalapenos. https://forums.butterflylabs.com/bfl-forum-miscellaneous/3226-my-visit-bfl-hq.html#post40266Lab rat is a moderator at BFL forums. Not you average joe. Just a pony show... |
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Good to hear that it's up and running again. Any luck on verification of ID's?
We're working very close with the dev team to resolve any issues with specific users having problems with verification. I passed verification fairly easily. The problem is (again like last time) that BitInstant has not delivered my payment via PayPal. Is it me, or is it everytime I go to them for my conversion I always end up having troubles? I never had these kinds of troubles with FastCash4BitCoins. BitInstant motto on their new site is: BitInstant - Time is Money |
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How do you propose distributing the chips to participants of the group buy? The chips in a lot of 100 from BFL are not all the same: Chip grades: Chips come in four grades of performance. Chips are sold in mixed grade lots. A grade has 16 engines, B grade has 15 engines, C grade has 14 engines and D grade has no less than 12 engines. All chips run at a minimum of 250 mhz. Higher grade chips will run up to 294mhz. The percentage distribution in each lot is 60% Grade A, 20% Grade B, 15% Grade C and 5% Grade D.
There are 2 possible scenarios: 1. The chips arrive unmarked/unsorted leaving me no choice but to send chips 100% randomly. Since only 5% are class-D a random selection should leave everyone with well over an average of 4 gh/s in any 5 chip batch. 2. If the chips arrive marked with quality/class I will simply send owners as close to the split of chips qualiy provided by BFL in the product statement. That sounds fair It's impossible to accurately predict what the ratio's will be in any wafer. Wafers vary from one wafer to the next. BFL's first (working) wafers had tested as 1.76watt per GH/s then later they realized alot of other chips were anywhere from 2 to 6 watts per Gh/s. With that kind of volatility you never know what you will get. |
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someone sold 20,000ish bitcoins a few hours ago at mtgox - expect plenty of action over the next 24 hrs
Yeah, I was some "unspecified" amount of that trade volume. I made about 5% of my whole stockpile in one day. I am about to make another 5% in a few hours if the markets are willing. Apparently, if you trade in volume, mtgox will send you free yubikeys to protect your account. |
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 If the PayPal seller insists on using the red highlighted payment type to send you the USD (or any other currency) then it is likely a scam. |
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@ Kernel32 Could you get in contact with BFL and clarify this point? I tried to get the answer through theswede but he didn't seem to have any idea about it. =======Reposted======
2. Ordering is from Global Foundries that also handle delivery
Will the tracking information come straight from the packaging facility or from BFL offices? If you don't know, could you find out? I am worried that BFL is going to send us the defunct lot they are using right now instead of the brand new lot that will be baked at the Fab. I don't want yesterdays revision that has caused so many problems (let them deal with those). I want the latest revision fresh from the Fab. ======reposted====== |
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@Kernel32 who are you? You have few posts and you only joined in April this year. Why should anyone trust you?
Because unlike every other BFL chip thread, he (kernel32) has done everything perfectly right. There is no possibility of losing your money up until the chips arriving. Whether or not Kernel32 finds the developers to turn those chips into boards is the only risk. I cannot more highly recommend this (and only this) particular group buy. If you want guarantees on the chips, this is the place to conduct business. |
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How in the world would you trust a sketchy offer from an even more sketchy company?
For 3 reasons: 1. 50% down 2. Ordering is from Global Foundries that also handle delivery3. Chip functionality is verified. BFL delays have been 90% PCB, power and software issues. Will the tracking information come straight from the packaging facility or from BFL offices? If you don't know, could you find out? I am worried that BFL is going to send us the defunct lot they are using right now instead of the brand new lot that will be baked at the Fab. I don't want yesterdays revision that has caused so many problems (let them deal with those). I want the latest revision fresh from the Fab. |
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Can you find out if this is a possibility?
Edit: Any power specs guarantees? (Don't want the bad lot that consumes 6 watt per Gh/s.)
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Are the chip lots marked clearly as Grade A, B, C, D or are they selling them blindly and we get what we get?
How do you guarantee we will get Grade A if we pay 75$ per chip for Grade A? (Instead of Grade D's mixed in)
BFL is not charging $99 for Grade A chips (their original proposal). They are charging a discounted $75 per chip for a mixed batch so they don't have to sort them. They are not labelled. Are the ratio's of Grade A's to D's at least guaranteed? It would kinda suck to end up with a ton of Duds. |
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Are the chip lots marked clearly as Grade A, B, C, D or are they selling them blindly and we get what we get?
How do you guarantee we will get Grade A if we pay 75$ per chip for Grade A? (Instead of Grade D's mixed in)
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