AFAIK its sunday in Japan.

The more I read Josh' posts, the more one would actually start believing Micon. FFS josh, start acting like a pro. if you were on my payroll Id have you fired just for your immature communication. Well, that and for consistently missing deadlines and breaking promises for the better part of 6 months now, but I guess thats a BFL tradition thats perhaps cherished there.

No one ever mentioned bitcoin being debt based, thats just a daft argument. And those old notes and gold coins are no longer fiat money. Fact is 100% of our fiat money is now an IOU.

I would agree with that. And if you hand over your coins to 420, do you have any frigging clue what you are investing in?
Nope.

What other fiat money is there, besides money created by commercial or central banks?

Ah there we go again. Heard it all before. Let me guess, you werent around when Pirate was, were you? Or Hashking ? Or Patrickharnett? Or Dank? Or any of the other financial masterminds that could make such enormous profits without risk.
 
Here is the thing though; anyone knowing of a bullet proof way to earn those kinds of returns (and the potential BTC gains on top of that)  would be filthy rich and not in need of any loans here. Particularly not at sharkloan interest rates.

Not that those mREITs seem all that bulletproof:
https://www.google.com/finance?cid=662081

Your example makes no sense,  all that happens is that goods, gold or IOUs are traded. Its not because I trade one debt claim against another or one debt claim against some gold, that it stops being a debt claim.  Our fiat money is created as a debt, and therefore remains the representation of someone's debt  no matter how often it changes hands, no matter what its traded against, until the debt is repaid and the money destroyed.

No one had more positive ratings than pirate when he launched his ponzi.

Anything that bears interest in bitcoin is suspicious, anything that pays these kinds of ridiculous interest rates is to be assumed a ponzi.

As tradefortress pointed out, you can get loans from banks or cc companies for only a tiny fraction of these rates.

Bad enough you dont realize what February 29th is, and then you didnt even see what you quoted lol.
I removed the color tags for you. Or try highlighting the quote.

Im guessing we will hit that before February 29th. Anyone taking bets?

(the first of which occurs in 2016 for anyone not paying attention, its a leap day)

If Josh doesnt know, he should keep his mouth shut and stop making bold claims and promises he cant keep. Not too mentions bets he will lose.
But more importantly, its his damn job to know or find out.
What are they paying him for otherwise? And remember, you are paying him.

As for Jody, she promised shipment in June or something, didnt she? I wouldnt be too surprised if she turned out to be correct.


Honestly, Josh seems to be acting like I did on my first job 15 years ago, when my idea of project management was acting as a go between between developers and customers,  sugar coating the bad news to the customer, giving it to him little by little, begging the devs to hurry up and never see a delay coming until after it had happened. I had no clue what I was doing, and I failed to realize the devs were acting to me just the same way i was acting towards the customer, and no one was really managing anything. The only thing i managed was customer frustration and it definitely was my fault that neither I or my customer had a realistic view throughout the project. Project management is all about managing risks. You cant manage a bloody thing if you cant even identify the risks.  This is all the more important if you are subcontracting most things out and have no direct control over it.


Exactly. Now Im not an electrical engineer either, but  im not sure how he expects chips and PCBs to be fully tested and qualified the very same day they might arrive at the testing facility.  


Josh is actually responsible. He may not be able to speed up anything, and whatever he does, maybe there wont even be a single shipped asic until summer and that might not be his fault,  but its his fault for not knowing this and  keep failing to deliver on his promises.

No he isnt. He is COO.  And he better start acting like one rather than acting as a messenger/apologist.
I wont hold him personally accountable for all the previous missed deadlines before he got hired,  but he is responsible for making and meeting them now.

other crucial question is, are you loaning in dollar/euro or btc? Say I lend you 30 BTC, will you be paying back 30+ interest if BTC goes to $10 or to $100, or will you be paying the dollar equivalent? The laptops price will  be in dollar, so if the BTC price would collapse, your lender might be enticed to keep it. if the price goes through the roof, then you might want to forget about the laptop. And even if you'd want to keep your word, you might have a hard time paying back $3000.

To be clear, are you willing to escrow the macbook (so sending it), or are you just promising it? If the latter, its fairly pointless Im afraid. If the former, you are rather brave, pick carefully. I would also suggest using escrow for the bitcoins, so that who ever lends you has to send the btc to the escrow first, then you send your mac, upon reception, have the bitcoins released to you. Do the same when you pay back the loan.

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Id buy a no name Chinese phone. ive bought a few over the past years, and they are generally really pretty nice and they are almost always prerooted (and if not, easily rootable if its using a MTK chip). Something like this:
http://www.ebay.com/itm/Smart-Phone-Android-4-0-Dual-Core-3G-GPS-4-7-Inch-F9300-MTK6577-B-/330829671572?pt=Cell_Phones&hash=item4d06fc2c94

Only a fraction of the price an S3 and not so much worse.

There is only so much you can test using a different package, particularly if its true those chips destroyed themselves from heat.

Fact is they they are yet to do the first tests of BGA chips,  and even assuming they managed to do basic functional verification on the QFN chips, there are a millions things different now. A package change is no minor tweak, it changes the interconnects, signal integrity, the package and ball alignment have to be checked,   it completely voids any thermal or physical stress tests, the PCBs are new, its probably safe to say they have will have to redo chip characterization if they ever did any previously, they can only guess how the underfill will cope (assuming they used any, if not that might be a serious reliability problem). You know, these are the kind of things that even highly experienced companies like nVidia or AMD get wrong occasionally. For instance here:
http://www.theinquirer.net/inquirer/news/1050052/nvidia-chips-underfill

Just small snippet from the above link:

 Ill grant that a bitcoin asic is substantially less complicated than a modern GPU but still..

I understand this discussion may be going over your head sublime, here is some study material thats perhaps more appropriate for you:
https://www.youtube.com/watch?v=5iRXZrFDFCA

Let me know if you have any questions.


Of course it doesnt work like that in the real world. When was the last time you bought clay from a banker?
You said you didnt understand how interest debt could be paid off if the money is never created. I told you how with a silly example, its because interest money doesnt get destroyed like debt money,  so the interest debt is repaid by transferring existing debt or actual wealth (which doesnt get destroyed with the loan either). Its completely logical and nothing like the spooky ever growing cartoon debt monster thats keeping sublime up at night.

Mirelo, you really dont understand. Money today is almost universally credit money, its created based on debt, its literally created out of thin air by banks based on your or my pledge to repay it later and money therefore represents a debt itself.  This is true for your bank account which is created by the bank, its true for notes which are created by the central bank, usually based on government bonds (ie debt). Our money  used to represent a debt by the issuer expressed in gold, which made it easier to understand (the money was redeemable for a fixed amount of gold, and therefore a 'good for gold' note, which really is just a tradeable  debt certificate). Now its value is no longer pegged against gold or anything, but it still works the exact same way.


What you completely miss is that these banknotes already are a tradeable form of someone else's debt. We exchange debt all the time and since its fungible, we have no idea who's debt it represents, but money is debt of and by itself.  your "monetary debt" is therefore a bit of an oxymoron, and btw, you can not redeem such debt or any debt by giving me anything of value. You have that backwards. Im not forced to accept any goods as payment of any kind of debt, I am however forced (by law) to accept fiat money to redeem any sort of debt. That money however, is nothing else than a bank or government sanctioned debt of someone else. Fundamentally, our money works no different than if you wrote "good for $100" on a cheque book, or on a piece of toilet paper,  and used that is if it was $100. The only difference is that we use trusted institutions called banks to verify creditworthiness, and guarantee the debt.

Quite frankly, Im astounded by the level of amateurism shown here.

Josh, your project management skills seem to be limited to relaying time estimates you get from your suppliers, whom you are clearly pressuring to fastrack what is a minuscule order for them,  and then passing on that  information unprocessed and with no contingency provisions whatsoever as firm promises to your customers. Big surprise you keep missing deadlines.

I also cant believe you still  think you are  days away from mass shipping when you havent had a single prototype chip to test yet. How do you plan in a few days to do functional tests, do proper chip characterization, test the chip, package and underfill for thermal and mechanical stress, verify BGA alignment, check impact of voltage fluctuation and what not? And Im just talking about the chip here, not even the rest of the PCB. This typically takes weeks, and more often than not is an iterative process as you rarely get everything right on the first try.

One would have thought that BFL had learned some lessons from their first product launch disaster, but I guess not. Anyone who thinks BFL will ship more than a few untested prototypes this month, I got a bridge to sell.