It cant happen. If Hashfast/cointerra/whomever slash their prices to the point where its "clearly profitable", all that will result in is more orders than they could possibly deliver. Or if they somehow could deliver, even at those prices it would turn out to be no longer profitable because difficulty would shoot through the roof.

Has KnC ever said this is a monolithic die, or possibly 4 (or more) dies in a package?

What a great comparison 
Yeah, if fabrizio and theswede would be holed up in Pakistan protected by the ISI and quite possibly CIA, supported by millions and surrounded by an army of men loyal enough to give their lives for them, maybe it would be tricky.

By auctioning these off to the highest ("stupidest") bidder, we get a good look at what those miners think this is worth; its an interesting experiment, and one that will yield TAV the highest possible revenue. I dont believe miners will profit from these, unless they have free electricity and most 28nm asics are significantly delayed, but at least this is much fairer than selling untold amounts of preorders with unknown future delivery date.

Just one question; your photo's show 60+ machines, current auction lists 27; how many do you intend to auction off over the coming weeks/months?

I only know of one chip thats this big. IBM Power (mainframe) CPU,  like this power 7

The lower earlier board has a different pinout to accept FPGA's to test the board.  Not a sign of trouble.

Or they have read the securities act, unlike you.

YOu dont really think the SEC will resolve this matter by using a foreign, unregistered anonymous exchange, do you?

They took their merry time stopping/investigating Pirate, even though that case was way simpler. A US guy running an obvious ponzi. It doesnt get any more clear cut than that. Yet it took the SEC a year before they pressed charges.


Unthinkable.


If those papers promise you a future profit or profit sharing agreement, and these papers can be traded, its a security all right and SEC territory.

It may be possible the SEC doesnt think its worth making a case over this yet, if they think its too small and no real damage is being done. Thats why they may limit themselves to telling Burnside & Co to just stop doing what they are doing. But it would surprise me they wouldnt take the opportunity to make an example of this.


You dont really believe that, do you?

I still cant get my head around how big that chip is.

What makes you think they arent already? SEC looked deeply in to GLBSE after the pirate ponzi, they are well aware off what is going on. Soon after GLBSE closed, now BTCT. The others will follow soon enough.


This is a security fraud. Thats not a police matter, but good luck getting anywhere through the police.

Me neither, but here is the thing; it doesnt even really matter if he knew or could have known its a scam. He knew or should have known he was promoting an unregistered security. That alone makes him liable even if he truly believed labcoin to be a legitimate venture and even if labcoin was indeed a legitimate venture. Theswede simply cant run from this.

Some people still think bitdaytrade could work out. Good luck with that.
If it were me, Id draw the line in the sand were we have people positively identified. As long as they are not fully doxed, there is zero reason to believe this is legitimate.
Not that doxing proves the opposite, see bitdaytrade.

Just contact the SEC. Theswede is in the US and "just being a PR person" doesnt make him any less liable than the others. In fact if all the others would remain out of reach of justice, Theswede might end up holding the entire bag:
http://www.law.cornell.edu/uscode/text/15/77o

More likely he will lead to the persons behind this.

This seems to be a constant with Alberto's "ventures". He keeps delaying and postponing and missing deadline, while sometimes giving something, though usually just a few crumbs. Just read the bitdaytrade thread to see how long he will spin this.

Im not sure what the strategy behind it is; probably to cast some doubt about it being a scam and to to dissuade investors from taking legal action. If he just took the money and ran, there would be no reason for an angry mob to wait.

Hopefully it *IS*

Gotta wonder if intel buying mcafee a few years ago has anything to do with this. Never quite understood why intel wanted mcafee, and so badly they paid almost $8B for it, ~3x AMD's market cap.

They can and do if it is deemed these exchanges target US customers. Please read before making baseless assumptions.
BTW, its not just the US doing it, most countries protect their markets from unregistered securities.

Did you read my link? Clearly not. Just putting  a message saying only citizens of a banana republic and Mars are allowed,  obviously wouldnt be enough.

Note that the link I provided actually deals about paper securities that have to be shipped. Even then the SEC expects the seller to verify phone number, social security numbers and the like.  For virtual shares that dont need to be sent I imagine they would be even tougher.

And this would also apply for any exchange:

When an offeror, or those acting on its behalf, uses a third-party’s Web site to generate interest in the Internet offer, more stringent precautions by the offeror than those outlined in Section III.B. may be warranted. These precautions may include limiting access to its Internet offering materials to persons who can demonstrate that they are not U.S. persons.

FFS how many times does one have to post links here to make people understand you can not legally sell unregistered securities to US citizens (or EU or mostly any civilized country) . "their jurisdiction" is meaningless. These exchanges would at the very least have to try to block sales to US citizens, otherwise they would be seen as targeting US (EU, whatever) and therefor be subject to SEC regulations:

III. OFFSHORE OFFERS AND SOLICITATIONS ON THE INTERNET
http://www.sec.gov/rules/interp/33-7516.htm

It doesnt matter what country they operate from, all that matters is what market they target. The internet isnt a country, there is a reason I cant get Netflix here, its because I dont live in internetland.