Do the math - BFL in all likelihood has massive non operational currency gains. The actual ratios of BTC vs fiat purchases and whether they converted anything from Fiat into BTC is speculation.... they would have to have seriously fucked up to not have experienced major gains.
Disclosure: I have orders pending with BFL
I cannot believe that I actually have to quote myself here.... Furthermore, it is abundantly clear that this forum, and perhaps the community as a whole has a very narrow technical and personal indignation focus. Are there ANY business people in this forum? DO YOU REALLY UNDERSTAND THE FINANCIAL AND ACCOUNTING IMPLICATIONS of what I have pointed out here?  If what I have said is true, it simply needs to be confirmed by BFL to completely eradicate the massive pile of tolling energy directed at them. Hey, don't get me wrong here - BFL has every appearance of being an operational and PR nightmare. BUT from a balance sheet perspective they could be sitting very pretty on a BTC arbitrage basis. Yes, the community has forfeited their BTC vs USD gain by 'investing' in a BFL preorder - but what is the correlation to a 'real world' rate of return on invested capital. Anyone here remember the "tech bubble"? It is impossible to divorce the flow of capital from the metrics of comparative returns and the underlying fundamentals associated with them. If you think crypto currencies are immune from the effects you are sorely mistaken and your lunch is being served to others, now. Like it or not you have few choices. If you are a seasoned stock picker you might realize a 20% cash on cash return - if you rely on investment counsel you *should* be happy with 6 - 8%. If you buy and operate a business the ROIC is 35 - 43% on a risk adjusted basis. Am I speaking English here? If this sounds like a foreign language YOU ARE OUT OF YOUR DEPTH. GO BACK TO WOW or whatever gaming chat room or newsfeed you heard about crypto currency in. WAKE UP BTC community. Big money and interests are taking a very hard look at BTC and crypto currency in general right now. It won't take many billionaires to dominate this market in a hurry. Stop pissing in the pool we all have to swim in. |
|
|
|
|
You know - it seems to me that a blinding flash of the obvious may have escaped many....
Assume BFL actually BELIEVES in BTC and, sold many of their products for BTC and converted a some proportion of their pre-order fiat funds received into BTC.
The result is that they are sitting on a massive pile of equity THAT THEY OWN.
Yes, they have a stated liability for every order received on their balance sheet (denominated in USD.) If they did this they are very well capitalized to meet the commitments to their liabilities. Possibly by an order of magnitude. In this scenario they could refund all the money and walk away with BTC gain and be rich by any common measure. They do not owe anyone the BTC they paid for their order and could certainly opt to pay them back in USD.
Do the math - BFL in all likelihood has massive non operational currency gains. The actual ratios of BTC vs fiat purchases and whether they converted anything from Fiat into BTC is speculation.... they would have to have seriously fucked up to not have experienced major gains.
Disclosure: I have orders pending with BFL
|
|
|
|
|
OK - I have 2 x GV-R797OC-3GD grinding out BTC at the moment but am moving them ASAP to LTC using CGMiner ....
Based on what I have observed, I need 2 x 3072 MB of system RAM plus adequate OS ram - the MB max is 8 GB so I might as well max it out. Unfortunately, the machine is also used as a media computer and I currently have Windows 7 Premium 32 Bit installed with 2 GB of Ram. It seems I need to upgrade to a 64 bit OS?
Would rather not dual boot as the machine is used for other purposes from time to time throughout the day. That said, based on the returns as of today, it may make sense to just jump to a dedicated rig using an Android Dongle unit.
Until that is in place I could dual boot from a USB Linux install I suppose......
Thanks in advance for your input
|
|
|
|
.......... - Despite issues of timing, if I take the $16,000 investment for 2 x 85 Gh/s (ttl 170 Gh/s) from Avalon and (ahem) pre-order BFL machines now for an estimated total of 720 Gh/s purchase AND allow for in excess of doubling of difficulty from 12,000,000 to 25,000,000 for delayed delivery I show a total return of $125,000 for Avalon and $273,000 for BFL respectively based on a time frame of 12 months
Clearly, I have opted to order from your competitor. Should your value proposition and business model shift to a more competitive stance in the future I look forward to having the option to become an Avalon customer as well. Best of luck with Batch #3 and beyond and thank you for your groundbreaking contribution to the future of Bitcoin for all. How are you modelling this? Unless you have a good model of what the mining difficulty will be between the moment you start to mine and twelve months later, you can't estimate the btc earned. Further, unless you know what the exchange rate will be during that time period, you won't be able to calculate total return in dollars. I wouldn't go making plans based on the figures you provide. The 'modelling' is illustrative only and derived from http://www.bitcoinx.com/profit/. I have only risked what I can afford to lose and understand that my choice is rife with assumptions. My essential point is that if I take the risk with a BFL order the scale of the potential return vs Avalon given a doubling of difficulty between the timing of a prospective Avalon order and BFL is worth the risk for me. A major factor in my decision is the fact that I can cancel an order within the next 30 or so days through my credit card purchase if I do not receive sufficient evidence that BFL is making substantive progress. I will reassess when and if Batch 4 comes along. |
|
|
|
With respect, as someone relatively new to the game..... may I offer the following insights and comments: - The timing and structure of this sale prevents a newcomer to the BTC economy such as myself from gaining access - I needed to sell stocks, settle the trade, transfer money to a bank account, wire money to Mt Gox and then finally get BTC to fund a purchase of Avalon equipment. Total delay estimated at 8 - 10 business days - not your problem I know, but worth mentioning perhaps
- Despite issues of timing, if I take the $16,000 investment for 2 x 85 Gh/s (ttl 170 Gh/s) from Avalon and (ahem) pre-order BFL machines now for an estimated total of 720 Gh/s purchase AND allow for in excess of doubling of difficulty from 12,000,000 to 25,000,000 for delayed delivery I show a total return of $125,000 for Avalon and $273,000 for BFL respectively based on a time frame of 12 months
- NB- I have a window of recourse with my credit card company and perhaps paypal should BFL not show sufficient evidence within the next 30 days that they will deliver product - no such opportunity or recourse exists with Avalon
Clearly, I have opted to order from your competitor. Should your value proposition and business model shift to a more competitive stance in the future I look forward to having the option to become an Avalon customer as well. Best of luck with Batch #3 and beyond and thank you for your groundbreaking contribution to the future of Bitcoin for all. |
|
|
|
No. Not with the shopped picture of proof of ownership. It is an obvious scam. If he had no pics you could not say it was a scam.
+1. It's a scam. Always use escrow for high value transactions with anyone. Even your grandmother. Always? ;-) |
|
|
|
Downclock the memory to ~1000Mhz. Memory clock doesn't help mining. If you go too low, your computer may freeze. You may be able to get the core to 1200Mhz with some voltage tweak. I wouldn't exceed 1.25v. Check the LOAD temperature before leaving the pc mining all night.  Thanks! |
|
|
|
I apologize if I missed anybody, but I've been busy lately...
BKM: OK
Muchas Gracias!!!! From Canada Eh! |
|
|
|
I'm looking to open multiple bitcoin-based businesses... I want to help bring bitcoins to the mainstream and make them easier for people to understand and get into. Unfortunatly, it all takes funding, but little by little I believe we can accomplish something.
I'm not sure how many of you seen the Bitcoin ATM at CES this year, but I think this device will revolutionisze the bitcoin market. Its basically an atm that accepts cash and provides bitcoins. Google it, its pretty sweet.
1KnKNNFHwgc7eRj2Fk7sGKm7CFZL188tEu
The Bitcoin ATM is dead in the water - what a ridiculous idea. Its simply a software issue for the likes of every private ATM MFG out there. Some, like NRT of Toronto Canada are heavily into gambling kiosks in unregulated markets. If you want to profit from bitcoin ATM services write the code and sell it to them..... oh wait..... they already have it in Beta no doubt. |
|
|
|
|
Running Radeon HD7770 with Bitminer on overdrive at 1150 Mhz (clock and mem) with manual fan to 75% producing ~215 Mh/s
Just learned about BTC and so happens I have this card so I set it to work.... waiting on my BFL ASIC (like everyone else of course)
If you have further comments regarding this set up TIA
|
|
|
|
|
BKM requesting release from Newb purgatory
Purchased BFL 60 Ghs Invoice ID: 100021175 (will try to get a piece of AVL Batch#3 if I can)
Will be buying ASICMINER-PT on BCTC.co when I have a BTC purchase completed - wishing I had an BTC exchange account setup to buy on the dip today due to 0.8 hard fork issue......
Have full blockchain installed but mining a HD 7770 at ~215 Mh/s via bitminter (cause its all I got - K!)
'nuf said?
Cheers
B
|
|
|
|
|
Hi - newb BKM here
no confirmation / verification email received - registration indicated I would get one.... am I missing something?
|
|
|
|
|
Show Posts
