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Once Bitcoin gets more mainstream and asic miners become more mainstream itseems plausible to me that miners could be built into all sorts of internet connected devices . TV's, BluRay players, internet <whatever>s. Interesting question is who gets the coins. ;-)
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Even at current difficulty, one of these things will earn about 0.006 btc 0.15 btc per week. It won't be long before it will take months before a 300MHps device earns enough to make a reasonably sized transaction. Otherwise there'll just be more SatoshiDice-like tx in the blockchain, and you'll have to pay larger fee when you want to spend the coins you mined with it.
So you'll need a bunch of them, and this means, as Kano suggested, messy USB hubs and this really works against the basic idea of a simple little plug in device.
I really do like the idea, but it needs to provide an order of magnitude greater hashrate to make it useful for mining - like the larger boards. If you just want to use it to support the network with this 300Mhps model, fine. But if you want to earn btc with it, it's not quite there yet.
Seems we're on the same page.  I hope ASICMINER sells both. I'd buy some of the minis just to have something to cart around and show people. And I'd buy a monster (if I could afford it - or a share in a monster otherwise) because I'm not just a believer, I'm a true believer. In terms of making money for shareholders, I think the minis would be more potentially profitable - the novelty value of a pocket-sized asic bitcoin miner is hard to guess at, but I put it at a good size. And as for the "dust", yes, if you mine with a pool and set to 1m BTC payouts then (assuming your pool will even do that) then you'll have to hang on to those transactions for a _long_ time before you can afford to spend them without getting screwed in transaction fees. Personally I have a 1 BTC payout limit on my pool. But again, you aren't mining with a mini to earn coins - you're mining with a mini because you believe in Bitcoin and want to keep the hashing power distributed. |
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That's the disadvantage I see. You'll need a good few of these to make any significant earnings and that brings us back to Kano's comment about messy USB hubs. I think the USB sized device is not a good idea, but I think the technology behind it is fantastic. I'm just looking forward to something a little more .... excessive  A device like this isn't about "making significant earnings". If you want significant earnings, you spend signifcant bitcoin and buy an Avalon or a full-blown ASICMINER tens-of-gigahash miner, or a BFL rig (if they ever ship). A device like this is for someone who believes in Bitcoin, and is happy to drop $30 and 2.5W on "keeping the network honest". Just like all the people out there mining with low-end GPUs at 200MHash/sec on non-BTCGuild pools, because they believe it's good for the network. Plus, you combine a device like this with a secure hardware wallet and you have an easy to carry full blown bitcoin solution. A device like this to me seems a good next step towards the mass adoption we're all (?) hoping for. |
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Click the + sign in the upper-right corner of the site by the current time.
Brilliant. Have no idea why this disappeared all of a sudden, but that did it. Thanks! |
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Today I can't find the "new replies to your posts" and "unread posts since your last visit" links.
These are my most used features of this forum.
Have the links been moved somewhere I didn't notice?
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I have a feeling some are conflating FRB with "debt as money".
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Congrats! |
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Well said - Bitcoin is too young and immature to handle the speculators that, to me, are the only reasonable explanation for what's happened the last 24 hours.
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I sent bitcoins from my blockchain wallet to mt.gox account and I only recieved 1.66% of the original amount in bitcoins. This is such bullshit. I feel so stupid.
You'll need to provide a little more info if you want some help. |
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Well you are already 'wrong" to say "I'll keep it for two years" What if another bubble forms and another crash..you want to just blindly hold it through that. A lot of people sold today over $200 and bought back at $130 or so. And it wasn't difficult to do that besides the exchanges not keeping up. So just don't blindly hold while it goes to $300 and then down to $10 or something...just not smart.
But short term, I would expect the price to drift downward over the next few weeks/months. I sure wouldn't pay over $100 for it...maybe $75 tops for 1 BTC. Otherwise risk is too high for possible reward.
If you are anxious to get in on the fun just buy .1 BTC on ebay or even .01...better than buying at a time when technical analysis says sell.
This is what I did. I have .02 BTC in my wallet and feel like I am part of it, even though I only spent about $5.00.
Not everyone has the time, temperament or inclination to try to buy the lows and sell the highs. Sure, if you were good at picking the lows and highs you could double/triple your money easy. But just because someone buys and holds, or merely buys the dips, doesn't make them stupid. Of course the best thing to do is buy and then transact. Buy some socks, buy that new laptop from bitcoinstore, whatever. |
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Bu-but that has TWO pages of posts to go through... To be fair, it MAY be on the second page of the Securities forum. To be mean, it is the 6th search result for asicminer. What's the thoughts 'round these parts for bumping threads to keep them alive? Maybe keep the thread alive by posting the weekly dividends there? |
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Everything that is beyond the buyingprice is additional and can be calculated in whatever you like. But an investment in BTC has to come back in BTC.
This x1000. When investing in btc, measure your returns in btc. And if you're "a believer" then the more transactions you do in bitcoin (such as buying a batch 3 Avalon), the better it is for Bitcoin. And if you're a believer in Bitcoin, then you're in for the long haul anyway. And if you're only here for a quick buck, then I hope you put in your life savings at $200 and sold in a panic at $100. |
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Turns out we picked the top . hope you bought intothe dip.
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if gox ever goes down the volume and depth will go to other exchanges.
OP...ok?
Problem is, most other exchanges (that I know of) are either really difficult and/or expensive to get fiat in/out of (especially for someone not in the USA) or have really shitty prices. If I could get non-USD into btc-e I'd be buying there in a heartbeat. |
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Two answers.
1. Just buy it. If it goes to thousands or more, getting in at $200 or $250 makes no difference. Same if it goes to zero. And the chances of today's market price being the all-time high are slim (but certainly nonzero).
2. dollar cost averaging. Look it up. I've been doing it since it was in the teens - the first time.
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ever know how many potential legit ASIC suppliers were scared away by BFL's promise, leaving only the failed cowboys and Avalon and those who don't announce their products until they work behind. But I would bet that number is greater than zero.
ftfy If you mean that BFL scared away people who had products already in development, I find that hard to believe. Committing the $1M or so to an ASIC design and mask etc is a huge sunk cost. I find it to believe that anyone would sink that much work and investment and then walk away from it because someone else announced a competing product. If you mean that there are others out there quietly toiling away building ASIC miners, who actually have the financial backing to not need to take preorders, as well as the integrity to not sell something until it's ready to ship, then I really, really hope so. |
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anyone got their satoshis already? :-)
Not yet, although last week's were sent at about 15:00 UTC on Wednesday. Another 4 or 5 hours, DST conversions notwithstanding. |
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Postförskott? ^^
You will have a hard time convincing people to pay for preorders without a past track record, I wouldn't do it myself no matter how good/convincing information you were to release.
I would gladly come and pick up a few unit and pay for them in person but there is no way in hell me or 99,9% of the rest of this forum would take the chance to order from a completely unknown company. Then again there is that 0,01% better hurry up and take their money.
If you are completely legit the first thing you need to do is get a unit(s) out to trusted members of this forum to verify that you actually have a product.
and being a registered company in sweden means nothing really "Kameraexperten" and the 2-3 similar sites that pops up for just before Christmas comes to mind ;P
Units to trusted forum members would work. As would hashing power demos on live or test. Both even? |
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There is no theoretical reason someone (or multiple people) couldn't short more than the free float .
1. Person A loans bitcoin to person B
2. Person B sells bitcoin to person C (covered short )
3. Person C loans bitcoin to person D
4. Person D sells bitcoin to person E (covered short)
The potential short squeeze would be incredible. As it should be - naked shorting is fraud IMO.
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