Ha.... Ha! What did I say? Nothing's happening these days but those dumps every 12-24 hours. It's very interesting, though that they don't actually manage to get the price down substantially. We've seen times where small dumps like these would have crashed the market!

I really was watching this company as it seemed as if they had cracked asicminer's efficiency problems, but it doesn't look good. I don't know if jimmothy's bet would default to 'lost' if they didn't produce a miner. but he takes it like an honorable person!

So how are these devices selling? Is rockxie producing and shipping enough to saturate the market or are the warehouses empty? It seems like the landscape has changed since last year, where ASICMiner devices sold at a premium on eBay 

It's interesting how every new generation of some next-generation computing device people assume it would revolutionize bitcoin mining. People have to realize that those processors are multi-purpose processors. Processors specifically designed to perform a certain task (ASICs) are already far far far superior to any multi-purpose CPU that's available and will be available in the next 10 years...

Geez, that really is a blast from the past. In the times where CPU-mining was still possible, a large set of CPU miners (botnet / website visitors) could really earn you some BTC, but even GPU mining is obsolete, many ASICs even are, so CPU-mining on an interpreted language? It's like trying to drain a lake with a teaspoon for dolls!

It seems, the most probable thing to happen is that all those miners or entities having to dump sell a part of their coins every other day only drive the price down gradually. Let's see what happens... 

Yeah, shouldn't be a problem, should it? As long as the software miner knows how to talk to the miners, it should recognize them. I only have hands-on experience with an array of ASICMiner Block Erupters, so they were all the same hardware miner. But it shouldn't be a problem as long as you point them all to your account in the pool.

Ha, yes it literally is like a lottery ticket. The comparison is awesome! The only depressing thing is that your lottery tickets' chances of winning get smaller and smaller every 12 days, unless you invest in a new miner lottery ticket

I've heard that the analogy to a universally distributed excel sheet is a rather good one. I don't quite recall who made that one up, but it goes something like this: Imagine a large excel file with all accounts in existence (bitcoin addresses). Everyone who's in possession of a key to an address may transfer money from that address to another one. To avoid double spends or the 'who came first' problem, in order to have a new definitive version of the excel sheet, people solve mathematical puzzles that are difficult to solve, but once someone found another solution, his version gets accepted. He is being rewarded for that by receiving new bitcoins.

Well yeah, they're called 'miners'... It's quite funny to find a post here in this sub-forum called... well... 'Mining' 

Well, the machines are getting better every day. Our current total network hashrate would've blown everyone's minds in 2012. All those 1 TH/s miners that are quite affordable, even for consumers, would've been outright doomsday devices back then.

GPUs can perform 'stupid' operations faster while consuming far less energy in the process. Graphics operations are - computational-wise - rather boring and simple operations. When they're configured to perform the mining algorithms, they outperform CPUs easily. But ASICs are even better. They're specifically designed to do those calculations and consume even less energy.

Umm, I really don't know what the future holds for bitcoin, and highly doubt that it will topple all banks or replace FIAT currencies altogether. But I do think it's probable that it finds its niche or application where it may surpass our wildest dreams, still!

Whoa, nice try Mr. Pirate! I bet you'll be mooring your ship in the harbor first thing after the island is being opened! 

Yeah, but there are people ('counter') talking about the auction as if it was taking place in the future. Which is odd, to say the least... I mean, there are supposedly upcoming auctions of the remaining funds that have been seized, but I guess it still takes quite some time for them to be auctioned off...

On the other hand, they'd immediately join the train when it really starts and when it is obvious that it isn't just a short rally but another full-blown bubble. Those are the things that really get a bubble going!

Am I trapped in some kind of time vortex? The auction is long over! We're basically waiting for someone to reveal their losing bets or the FOIA requests to get fulfilled (which may take a lot of time or happen never)...

Yeah well, basically no one knows jack... Everyone is just speculating - like you and me - and drawing colorful patterns on logarithmic charts. I, myself, believe we're still on track for any potential bubble to come. But hey, maybe we need another big dip or won't even see a bubble this year. No one knows!

Well, it's not exactly only good stuff that comes from a deflationary currency. In fact, it may just be as bad as a highly inflationary currency. Just think about how people won't want to spend money when their money was worth more the next day! (Yes I know, people are spending their bitcoin - but they're enthusiasts. We have to remain on the level of a nation's economy and use the psychology that applies to the regular person using a currency)

How did we even end up talking about how to remain anonymous when this thread started with our Frappuchino loving Frenchman on that island far far east?