And BTW - how is it possible that OP created the thread on June, 9th, but he has updates from May 31st?  And who bought the units if nobody is so retarded to send him NOTHING without escrow? |
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NOBODY IS SO RETARDED TO SEND YOU BTC75. NOBODY WILL BUY NOTHING IF YOU DO NOT USE ESCROW
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Guys, come on, what has zercoin to do with KnCMiner?
There are many threads about it. This one is useless if it becomes an endless off-topic chat. For that we already have the Wall Observer thread in the speculation subforums.
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What happened to Bitcoinity, down for hours?
working for me. check bitcoinwisdom.com, quite nice too. |
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Friedcat,
A team of us shareholders has taken the time to collect and simplify the most popular questions people have for you and ASICMINER. I am sending these questions to you at Jutarul's suggestion, and on behalf of all ASICMINER shareholders that took our poll.
I am only going to send 3 questions to you, in order to keep things simple, and to hopefully maintain this line of communication in the future. We understand that you might not be able to fully answer some things due to competition, but any amount of info will be plenty for us!
If you can take the time to answer, feel free to post your answers in your main ASICMINER thread, or respond to me directly and I will copy your answers verbatim.
Thank you so much for your consideration, here are the questions:
1. Can you tell us more about the next generation of ASIC chips? When should we expect them, and what specs might they achieve?
2. Does ASICMINER/Bitfountain have any legal risks by doing business in China? Are cryptocurrencies or mining of virtual currencies allowed there?
3. What contingency plan do you have in place if Friedcat or other important employees become seriously ill or otherwise unavailable as a resource to ASICMINER? OFFICIAL RESPONSE FROM FRIEDCATHi ThickAsThieves, 1. They will arrive at October as their earliest. The specs are unknown (only simulation results at this moment), but surely they will be much better than all available similar products in the market now. 2. Cryptocurrencies or mining of virtual currencies are OK. Exchanging them for fiat is less OK but the legal risk is mostly on the exchange operators' side. However as everyone knows, the policy in China is never predictable so there is indeed risks in the future. We have been considering and coping with this uncertainty from the day our chips passed the test and are on the start of building offshore company structures. 3. The access to company wallet is backed up and we back up shareholder information frequently. Also the division of work in Bitfountain is not yet so refined that there are no replaceable positions. We have already left our startup stage so it's become more organized, therefore backup employees are becoming more important and in our range of plan. Best regards, friedcat Wow, awesome news. Thanks a lot friedcat, ThickAsThieves, and everyone else who helped with this. ASICminer is indeed a breath of fresh air in the Bitcoin community. Professional folks, delivering as promised - ASIC BUSINESS DONE RIGHT. CONGRATS TO FRIEDCAT AND TO ALL THE ASICMINER SHAREHOLDERS |
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Pretty bold (and delusional)  Some say it's better to be bold than smooth  Perhaps it is good to just postpone it: Yes, we will reach $300 by 2016, for sure it will happen. If it happens in early/mid 2014 (which I personally believe), it will easily go to $1000 as a bubble. Don't you know how many Localbitcoins.com merchants there is? How long does it take to get the Bitcoin Dealer Network Association formed, if it is even necessary. The tear days in March saw 1 million USD invested into bitcoin effect a $10 million rise in market cap. (And the contrary, my sales of $230,000 took 200 million away of the marketcap in May 5-7). I am currently minding my own business and analysing the great bitcoin bubbles of 2010, because the end game will be like that: UP 10x, down 25%, UP 8x, down 20%, UP 6x, down 15%, UP 12x, down 60%, down 80%. No way the stability returns once we get out of the .1-.12 area... I and my friend both called the 10->300->120->"1-6mo consolidation" already last year. The fact that it's played out exactly as scripted does not make me any less eager to see some action. So, what happened to this? To not believe in $300k this year is a denial of the facts.
So, you are denying the FACTS, postponing your prediction by 2 years? Or it's just the meds doing their job? |
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In other news: guys, time to sell. Really.
What? Has it reached $300k/m BTC already? Almost - anyhow, I'm just trolling. You guys know i'm a long term perma-bull |
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In other news: guys, time to sell. Really.
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Sure sounds like there's a lot of SR vendors on this thread, trying to morally justify they are just that  Maybe bitcoin economy is mostly SR afterall... Bitcoin economy = SR + asic companies to mine bitcoins You forget that 99% is pure speculation - like in fiat economy. Or just compare Forex daily turnover ($3.98 trillion) with any other business in the world. Speculation drives economy in the capitalist system. That's it. |
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When I heard bitcoin for the first time, the price is 37$, and then drop to cents, and I didn't buy any, how fool I was!!
That never happened, keep dreaming. |
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Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. You realise that it will negatively affect price, at least in short term? Probably short term. But not mid-term, or long-term. Everything illegal comes with a premium. Then, Bitcoin was designed to resist bans. Both the protocol and its creator analyzed a "government ban" situation and prepared for it (why do you think Satoshi is a pseudonym, he always used Tor, and never left traces of who he really was?). This experiment needs to be fully tested. I don't know if ay government is going to be so stupid to ban Bitcoin, but if they do they will make it stronger, because was designed with that it mind. Short term price is irrelevant in the grand scheme of things. Some of us are not here for the quick buck. But we all know how much was bitcoin when it was used only for illegal purposes and not for speculation like today. I would like to hear your opinion on what will happen with bitcoin if it will be illegal to run a bitcoin exchange? Of course TOR-based exchanges could appear, but big money would be gone. First and foremost, a global ban is unlikely. The most likely scenario is that there would be countries where it would still be legal to run exchanges. And "big money" knows how "offshore banking" works - especially is this "big money" comes from dubious sources. I bet you know that there is a lot of "big money" (or better, HUGE money) in counterfeit pharmaceutical drugs, prostitution, illegal weapons traffic, drugs, etc. Secondly, Dread Pirate Roberts (SR operator) is a visionary. But new generations of "criminals" will join the pack as soon as they understand BTC. If BTC is banned, they would be even more attracted by it. "Criminal activity" (or black market) is a 1,829 billion per year market. If only a small % of that economic activity goes to BTC the price will skyrocket, and as I said earlier: everything illegal comes with a premium. Bitcoin has the potential to be HUGE regardless of the official position of Governements. |
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Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. You realise that it will negatively affect price, at least in short term? Probably short term. But not mid-term, or long-term. Everything illegal comes with a premium. Then, Bitcoin was designed to resist bans. Both the protocol and its creator analyzed a "government ban" situation and prepared for it (why do you think Satoshi is a pseudonym, he always used Tor, and never left traces of who he really was?). This experiment needs to be fully tested. I don't know if ay government is going to be so stupid to ban Bitcoin, but if they do they will make it stronger, because was designed with that it mind. Short term price is irrelevant in the grand scheme of things. Some of us are not here for the quick buck. |
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Indeed. Hopefully people will realize that centralized currencies are sh*t. The only answer is Bitcoin. Oh boy, I'm really waiting for some agency/government to try to "ban" Bitcoin. But I guess they are not *that* stupid. |
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How is it possible that you forgot to include in the wall of fame the $300k per BTC in 2013 by our favorite poster?
Ummm, I kinda did in post 11  In fact it's going to go higher in the short term so hoping to sell high and buy low at 300k/btc No, in your quote it says "$300k in the long run", when the bold prediction is $300k this year, plus the people not believing this "is in denial of facts". Pretty bold (and delusional) |
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the guy who was forced refunded lost 1000's of dollars from the bitcoin price appreciation, so yes he lost more
+
BFL is a company
Canadianguy is not a casino, betting exchange, or a legal contractor of bets
No, he's just a scammer. He bets with other members of these forums and if he wins he takes the money, if he loses he defaults. |
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How is it possible that you forgot to include in the wall of fame the $300k per BTC in 2013 by our favorite poster? Here it goes: but I know that $300k per 1 BTC is delusional How many people you know, who bought a mobile phone, but went back to fixed line? How many tried Internet but decided it's not for them? If something happens in the world, would the news not reach the uttermost ends of the earth in latest 48 hours (if not instantly for most places)? What keeps 1 billion people from adopting bitcoin? (How can you keep them from not adopting it?) How many bitcoins are for sale? To not believe in $300k this year is a denial of the facts. Only a technical flaw in the algorithm or a superstealthfast adoption of a superior altcoin currently not existing, or an all-out wiping away of all mankind can keep USD/BTC from exploding this year. Already everyone who has any position in this world knows about Bitcoin. Just post any nugget of actual facts that can contradict my $300k this year or cease replying to me with nothing material, thank you. |
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Darn, it. Im always to slow for this stuff. Would have been awesome though
Don't be a fool. You are still on time. This is just the beginning. |
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So what is bitcoin supposed to do? drop to 1/16th? (uhh... no arrogance inteded ) I don't hink we will repeat the 2011 the game has somewhat changed. Indeed. The 3-year logarithmic trend shows the $12-13 base in Dec-12/Jan-13 to be severely undervalued. $30-$40 was on-trend for that time. So the dip to $50 in April was still on-trend. IMHO seeing $50 again is possible, but anyone wanting to buy again at $30 is dreaming. I've no idea how low it will go and don't care to guess ... one day at a time. For now, all I know is that I have 2.5 * the fiat I was going to put into BTC 6 weeks ago, the price is lower, and I don't like the feel of the market right now. It does not seem like a good time to buy. So I will keep doing what I am doing so long as it is profitable. Seems like a perfectly rational strategy to me. Kinda lucky to have witnessed BTC in all itself potential while also having the opportunity to buy very cheap while a bubble deflates, right? |
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You guys really have to check this twitter feed from Sir-Bits-A-Lot. https://twitter.com/SirBitsALotHe has some great commentary on price manipulation and a video as well. Really really interesting. He is a bull long term but mid to short term (6-12 months) he is a bear. Video linked here:http://sirbitsalot.wordpress.com/2013/06/11/bitcoin-price-manipulation/ Fun to read but I don't see that much manipulation these days. Price climbing on low volume, not so strange considering we went from $14 to $266 in the first 4 months of 2013, and then we crashed to $50 in a few days. Is expected. There are no wall-games as during the high volatility periods, only small-time trading. |
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Things are happening behind closed doors.
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