So what happens to the 5000 labcoin shares I had if left untouched
They will continue to serve as a reminder of your gullibility?
|
|
|
I would say only 500TH/s -I expected much more - this is good news in imho Its not like all of those 400 machines that have been shipped have all arrived and have been deployed already. So in all likelihood, KnC machines will add 6-700TH over the current hashrate over the next week or so. Then there is 500TH that asicminer would deploy this month and god knows how much bitfury is deploying. Not sure how that is good news, because I didnt even mention the (slim) possibility of Hashfast actually shipping this month and Im ignoring BFL and avalon shipments too. Oh and btcgarden's 250TH which may or may not have been deployed already.
|
|
|
They look exactly the same as any other QFP44 chip, and there must be a million of those. Fair enough, however didn't Labcoin say because of this packaging they had huge issues with their chips? Somehow magically BTCGarden doesn't? You have many variants of the package that have an influence on heat dissipation. But of course much more important is the power draw. BTCgarden claims 1.5 - 3.75W per chip. Labcoin's paper chip was calculated to draw 12.8W.
|
|
|
They look exactly the same as any other QFP44 chip, and there must be a million of those.
|
|
|
I am not a native english speaker so maybe I didnt express myself well
I believe that most of the people that are mining (like 70 to 90% of them) are people with average or mid grade salary (in real life jobs) and they have average to low grade hardware (most of them usb sticks,5 GH/s machines and some of them 500GH/s machines tops...)
So for those people if the difficulty exceeds lets say 6 or 8 billion they sure will quit since their hardware wouldnt even get them a thusandth fraction of a bitcoin per day in that difficulty so if and when they quit the difficulty should drop down (since 70% or 90% of the miners dont mine anymore having as a result the average time for a block to be found to increase noticably)
So at that time it should be a good idea do get into mining with a strong piece of hardware thats what I was talking about mine for a few weeks and then when people keep on coming back you just wait for the difficulty to raise up again.
By all means, dont spend a satoshi on mining hardware, because you do not understand the basics yet. The salary of miners is irrelevant (and many of them have been mining for years since bitcoins traded for $1 and so are independently wealthy now because of it). What hashing speed their machines have, is irrelevant. No one is going to turn off their asics unless operating cost (electricity) exceeds income, and that efficiency doesnt scale. We are very, very far from that with current Asics Difficulty decreasing, thats a joke. For the foreseeable future it will keep rising exponentially. If you think the current increase is steep, you havent seen anything yet, new generation asics are only just trickling in. Mining hardware is priced per TH for the most part, buying more doesnt give you an advantage (in fact, it gives you a disadvantage. The more TH you buy, the more you compete with yourself). There is no advantage of scale in this game, except if you scale it to the level of building your own chips and miners, then suddenly everything changes. Well, even for that you are too late now and anything else is just a guaranteed waste of money.
|
|
|
10% discount ... absolutely wrong move - they should finally close orderbooks no one will see break even - they have it in their hands and still spoil it - is it so hard to think 2 months ahead goddamn Even if KnC were to stop taking orders, do you think Hashfast, Bitfury, Avalon etc would do the same? This is a race between vendors, and the customers are the victims. Its just the nature of this market.
|
|
|
AFAICS, this is basically the same idea as colored coins. But disguising a company share as a coin isnt going to solve the problem. Sure it would make the exchange distributed and difficult to close down, in that sense its a good idea, but the coin will still have all the properties of a security, therefore be considered a security and therefore, the legal liabilities for the issuer remain the same. It might fool some folks at the security commissions for a while, but eventually they will understand it too (and perhaps before most posters on this forum)
|
|
|
Based on this website. Its much higher...
Current difficulty: 189,281,249 Next difficulty (estimate): 268,541,367
Its not the website thats so different, its just the time you are looking at it. Right now dot-bit predicts even more, 289M (x1.53) But this estimate is based on a too short sample, simple luck / variance plays a very big role, so its too early to say we will really see such a jump. I wouldnt rule it out though, like I said 300M may be possible.
|
|
|
Just saw this on reddit: http://www.futureblock.com/Lets you bet on the network hashrate increase. pretty neat idea, and afaict, well executed. I just wish the criterion was the unambigious difficulty instead of a guestimated network hashrate
|
|
|
Holy fuck! How the hell could somebody know you were going to receive the miners? Any clue on which was the attack vector? We should rule out that is somebody inside UPS Sweden who knows what's going on and giving the heads up to others..
I was wondering the same. Another possibility is that someone hacked KnC's server.
|
|
|
Personally I think taking advantage of the new crowdfunding laws is the way to go, and even if those laws were not being enacted then somehow becoming legal is a much better course of action. Getting entrenched now as the legal bitcoin stock exchange will be well worth it.
+10 Almost all Bitcoin exchanges have gone legit, and that has greatly benefited bitcoin. I hope someone will do the same for the bitcoin security market. It may be a tall order, but if someone pulls it off, at least we could begin attracting more serious investments rather than being limited to illegally betting some playmoney in casino exchanges on mostly scam assets.
|
|
|
Those KnCs dont seem to be making a dent yet.
Taking that back. Of course its hard to say how much of the current hashrate spike is statistical noise, how much KnC, Bitfury or any of the other players, but the game is on it seems: Last 120 08/10/2013 20:47 262437-262557 279 863 848 x1.48 Last 10 09/10/2013 09:13 262547-262557 288 979 007 x1.53 Next 16/10/2013 15:48 264096 263 789 841 x1.39 If its not a statistical fluke, its bound to go up further considerably as KnC is no where near done shipping/deploying. Will we see 300M difficulty the next round? I think we may.
|
|
|
Aye, that's why I didn't mention it as it would likely face the similar situation as btct and now bitfunder are running into. Colored coins is the best way I think, especially if more governments come to the realization that they won't be able to restrict something that exists within the bitcoin protocol itself. I see the problem with direct shares, but I mean the further we keep getting pushed back here, the more its going to seem like downright oppression. You could make the same argument for using colored coins and say that you're still trading unregistered shares, no matter that you use the term 'colored coins'. They have to realize at some point that its going to be much easier for them to just try and adapt to the changing landscape instead of yanking it backwards so they can have it the way it should be.
Maybe so. OTOH, I dont think there is much harm in adhering to existing laws either. Registering a security isnt that hard, and the disclosures it requires can only be considered a good thing for potential investors. Even if these laws wouldnt apply, most of what they dictate should be common sense, and would avoid 99% of all pirate, labcoin and similar scams. Is that really worth fighting against? The only annoying thing is that you'd have to register those securities in just about any country, it would be nice if there was some central "internet security and exchange commission".
|
|
|
No other country in the world is oppressing its citizens like the SEC and I will eat my hat if any non-US agency sends bitfunder a cease and desist instruction.
You think that? Read up on the Australian equivalent (ASIC) and start googling for a good recipe for that hat.
|
|
|
I wonder if Ken considered the option of hiring somebody to run direct shares. It may have to be a very real consideration. Didn't this same thing happen to btct just a month back or so? and then comes the notice that they'll have to close permanently...
A while back Ken wrote they already had the code for a private exchange, precisely for this reason. I commended him for that, being forward looking (and was ridiculed by many for saying that). Its in this thread. Anyway, e that doesnt change the legal status, selling those shares directly wouldnt be any more legal, unless he registers them first. He might not attract as much attention, but its hardly a fundamental solution.
|
|
|
Yes but SEC stepping in means that they would have to convince somebody to do something. As in Hong Kong officials. And I really think they might not care enough.
Where do you think bitfunder is incorporated? Where was BTCST? Hint: not in the US. Why dont you be the hero, start an exchange, and if you get a cease and desist letter from a foreign exchange commission, just ignore it, see what happens.
|
|
|
I just buy shares, sell shares and collect dividends, Have you read that link? Clearly not. You might be able to hide your activity from the SEC, but I wouldnt bet any money on that unless you only deal with people you already know. So just so you know, it IS illegal, and you would be betting on not getting caught.
|
|
|
Consider 796.com? Hong Kong might not care what the SEC wants.
Doesnt matter what HK thinks. The point is these securities are sold to US investors, and thats where the SEC steps in. BTW, I looked up HK security laws, and they arent too different from US. Its just as illegal there as it is in the US and almost everywhere else to sell unregistered securities that dont fall under certain exceptions. At first glance it even looked a lot more strict in HK.
|
|
|
Good job of totally missing the obvious. They will lower prices. A 400GH/s hashfast asic costs ~$30 to produce in volume.
Can you walk through the math you are so adamantly asserting is "possible" in volume? You are claiming that you can get to 7.5 cents per GH/s? Just give me a few numbers so I know that you are correct. $4000 per processed 300mm wafer, 177 candidates with hashfast die size (324mm˛) that is $22.5 per candidate in silicon cost. Subtract 15% yield, a few dollar per chip for packaging and testing and $30 is about right. Note that $4000 was volume price at TSMC for 28nm over a year ago, its quite possible its cheaper now. Wafer cost, chips per wafer, packaging, boards etc. Power Supplies are more than per GH/s than your number all by themselves. Im only talking about the asic. Feel free to make your own estimate of costs for the PCBs and PSUs. For reference, PCBs of highend videocards is on the order of $8, and those are very complex PCBs with up to 12 layers and very timing critical due to the highspeed ram etc.
|
|
|
No, Active Mining Corporation is based in Belize, and with Bitfunder changing to not targeting US citizens, it will be legal. In the US, and pretty much only in the US. Maybe selling unregistered securities is legal in Panama or Botswana, but certainly not in many other countries. US being blocked is just that the SEC is the first commission to move, its not likely to be the last. I am sure, if any other country, send Ukyo a C & D letter, he would just cut off those IP as well. Indeed, until you are left with Panamese investors only. Well, maybe not your problem since you are past IPO, but seriously, have you looked in to registering your securities? You still wouldnt be allowed to use an unregistered exchange, but AFAIK, you would be allowed to sell shares directly.
|
|
|
|