Yes. I've taken out what's left (lucky you, buying my shares at an all time record low of 0.24), and thus my failure is complete. It wasn't enough to learn some lessons with Neo & Bee, Ukyo (12 BTC lost to him and I've been told from a reliable source that Ukyo had indeed gone fractional reserve), CaVirtex (110 BTC invested and all I have to show for it is a PDF with a small fraction of 1% of the company and no idea what the shareholder agreement really is), Havelock Mining Fund last year, AsicMiner (I know I can wait even more and it could go up, but this was my cut off point -- you can reap the rewards, it is OK with me, no risk -- no reward), 47 BTC sent to Butterfly Labs for a day 1 Monarch pre-order that still hasn't shipped and might POSSIBLY make me back 2 BTC if I am lucky, etc.
Hoarding is definitely a much safer way to go. I did have some success investing in Just-Dice, but that was a bumpy ride too. Everything else just looks too risky for me. Good luck to you. |
|
|
|
Who here wants me to post the "so long" post I prepared, or should I just STFU and leave without even saying goodbye?
Edit: Never mind, I won't post it, there's perhaps still a lot of fun to be had in this thread, divs next month, and prosperity for the remaining bagholders. So with that, I'll say my goodbyes and move on to other things. Take care.
Did you already dump your shares? |
|
|
|
People are asking if there is a way sales could be done in btc, you are asking this because you are new around here. Sales historically were done in btc, and divs were then easy to do. It is now however illegal to price or sell things for btc in China (or some form of that, China changes their stance on bitcoin every 3 seconds). It was as a result of this I believe that cause FC to take payment for chips in fiat, legal bullshit.
I don't see how selling chips for fiat is going to work in this environment. I think self-mining for BTC and selling chips for fiat as needed will minimize the need to convert back and forth. |
|
|
|
The bank deposits and third-party payment systems for Bitcoin exchanges in China are all closed. Workarounds exist (like buying physical cards with deposit code) but the real trading volume is severely affected.
Conversion: We have OTC conversion channels to trade USD for Bitcoins in Hong Kong.
Perhaps it would be better to focus on self-mining rather than deal with the hassle of fiat to BTC conversion. |
|
|
|
Is there a TLDR version of how gold backing can cause a crisis? |
|
|
|
Molyneux believes the world needs his show for its survival
Molyneux believes the world will be better off without coercive force and fraud. |
|
|
|
I don't think anonymous payments are or ever were the goal with bit coin. The idea of a public ledger kind of says that neither did the inventor.
I am willing to give up some privacy if it means governments give it up as well.
Is there a goal? That is, is there one collective goal that everyone who uses Bitcoin has to agree on? Or, is each individual free to decide for themselves what their own goals are? Individuals should be free to choose their own goals in life and if they determine that Bitcoin can help them achieve those goals then they should be free to use it in whatever manner they choose and if an individual decides that Bitcoin is not beneficial to them then they should be free to not use it. |
|
|
|
Finally, someone who almost gets it. Forgive the hyperbole about VT. TRANSPARENCY is Bitcoin's greatest gift. The BLOCKCHAIN will give us FREEDOM! Let's just forget about the Dirty Deeds Done Dirt Cheap rhetoric from the Secret Squirrel Brigade. 'Mkay?
Do you consider Satoshi Nakamoto to be part of this "Secret Squirrel Brigade"? |
|
|
|
Are you ready to have school buses bombed for ransom? Dark cryptocurrencies would make this so easy any Virginia Tech freshman could do it.
Eliminating dark cryptocurrencies doesn't solve the problem of the Virginia Tech freshman. I'm all for a more transparent world where dark cryptocurrencies aren't needed. But as long as we have oppressive governments that are trying to spy on their citizens with Orwellian surveillance networks then there will be a supply. The only reason there is supply is because there is demand. Eliminate the demand and there will be no supply. |
|
|
|
Actually it is the "subsequent investors" are the ones who made Friedcat rich. He liquidated shares when the price hit 4 btc/share  Some people don't seem to understand the relevance of the secondary market. Source? IIRC he specifically said he didn't sell during the bubble. It was last year at the peak, I remember seeing a post in the securities subforum here, I think it was Bitfountain that liquidated some shares at 4. If someone is in the mood to dig around the posts in the forums, you guys are my guest. Found this quote: https://bitcointa.lk/threads/asicminer-entering-the-future-of-asic-mining-by-inventing-it.61268/page-140#post-1597354So although it's likely bitfountain did unload shares at 4btc/share, FC did not get rich because of it. What is it exactly in that post that leads you to conclude that Bitfountain sold shares? (Also, that post is dated March 28, 2013 when AM shares were selling for less than 2 BTC each and maybe even closer to 1 BTC.) Edit: Here's a link to an auction of AM shares dated March 26, 2013 that was eventually cancelled, but opening bids were set at .72 BTC per share. https://bitcointalk.org/index.php?topic=159244.0 |
|
|
|
my investment was 720 usd in june of 2013.
I was supposed to start mining July 4th. Started July 31st. I was given under hash from July 4th to Sept of 2013. Then got a bonus 1.25gh in oct. right now I have 6.25gh hashing for me.
when all is said and done I will be lucky to lose 300 usd with them.
the only way I could get a profit is btc needs to jump to 4k by july of 2014. I have .0424 in current earnings . by july of 2014 that will be about .05 at 4k a coin .05 would be 200usd oh that is still short as I have cashed in 360 usd . so even at 4k a coin I would lose . well it is only money.
In June of 2013 the exchange rate was about 100 USD/BTC. That means CloudHashing has converted your 7.2 BTC investment into .0424 BTC--a loss of about 7.1576 BTC or a little over $4000 at the current exchange rate of 570 USD/BTC. Hopefully others will stop and think twice before buying one of these contracts and will consider just buying the BTC. |
|
|
|
Was responding to this one technical question really of greater importance?
YES! Agreed. He is responding to the lead BFGMiner dev who is probably adding support for these chips into his miner. I concur. Customers and potential customers come before us investors. Isn't he also one of the bitcoin core developers? |
|
|
|
Does havelock dispute the dividends once FC transfers the dividends to the direct shares address? If not, we can decide whether to buy the shares according to the amount of the dividends.
Havelock normally disperses the dividends by crediting the BTC account balance of the pass through holders within 24 hours of a dividend payment. |
|
|
|
|
Has anyone been keeping an eye on the number of outstanding shares being held by Havelock? Looks like they're currently holding a total of 27,320 shares to back AM1 and AM100. IIRC, it was about half of that about six months ago. I wonder if a lot of shares will be getting dumped once the next dividend payment is made. Would be interesting if Havelock had a chart that showed how many shares have been converted to pass throughs over the past six months or so.
|
|
|
|
that's why bit = 1BTC because otherwise names like microbit would not make sense. A centimeter is not the same as a meter, so a bit is not the same as a microbit either.
People will use microbit/millibit because that's just the natural thing to say instead of microbitcoin and millibitcoin. If you have never heard of any of the names the community has thought of, these are the first things that most people will think of. And since we are still in the innovators / early adopter stages there will be many new persons joining every day for the next couple of years. If we would use 'bit' to mean anything else than a full bitcoin, i can guarantee you we will have this very same discussion for years to come.
If you are not looking forward to keep explaining that for some reason a bit is somehow equal to µBTC for the next couple of years, just tell them 1 bit is an abbreviation of 1 bitcoin and be done with it.
Perhaps, "bitcoin" and "BTC" will end up being considered colloquial terms for a "megabit". 1,000,000 bits = 1 megabit = 1 bitcoin or 1 BTC 1,000 bits = 1 kilobit If the "bit" (.000001 BTC) becomes the new standard unit, I think the "kilobit" (.001 BTC) would still be commonly used because the exchange rate right now is about $0.0005 per "bit", or $0.50 per "kilobit". |
|
|
|
Like it or not 1 bit refers to 100 satoshis (1 millionth of a bitcoin), currently.
Even if there are trusted members here saying otherwise, or that people call them "mikes" (I've never heard anybody actually say that myself), the OP here has probably come from reddit, where everyone is tipping in bits; i.e. 100 satoshi-multiples (or millionths of a bitcoin).
On another note I would love to see a citation of somebody calling a bitcoin a "bit" because to be honest, I have never heard that!
The usage that I see as common (almost accepted) as it stands today is:
1 BTC - 1 bitcoin - (a) coin
0.001 BTC - a millibit - a millibitcoin
0.000001 BTC - a microbit - a microbitcoin - a bit
0.00000001 - a satoshi
I am well aware that millibit, microbit and bit do not work that well together from a purely scientific POV, but most current users seem to understand what is what; I think the varying orders of magnitude give it away really, as you are not going to pay 1000 bits for a coffee, and think that you owe 1000 bitcoins
Perhaps we should think of a bitcoin as being equal to one megabit from now on. We can say that there will never be more than 21 million megabits or 21 billion kilobits in existence. |
|
|
|
Are people really just too lazy to say bitcoin so they say bit? Just say btc or coin if you cant be bothered rather than bit because it's confusing. It obviously seems to imply a smaller denomination or part of a coin.
In the world of computing, the term "bit" refers to a "binary digit". Outside the world of computing, a "bit" refers to a "small amount" of something. I think that might be why there is so much confusion for those who are not familiar with the terminology used in computing circles. I've always assumed that Satoshi chose the name "Bitcoin" to represent "a form of money made out of binary digits". I always thought the 'bit' bit was derived from bittorrent, ie being a decentralized network and being a similar process. I've always thought of BitTorrent as meaning "a fast flowing stream of binary digits". |
|
|
|
In the world of computing, the term "bit" refers to a "binary digit". Outside the world of computing, a "bit" refers to a "small amount" of something. I think that might be why there is so much confusion for those who are not familiar with the terminology used in computing circles. I've always assumed that Satoshi chose the name "Bitcoin" to represent "a form of money made out of binary digits".
I think the confusion lies with people just referring to bitcoin as bit when naturally one would assume it's a smaller piece of a coin. That's where the metric prefixes come in. They allow us to specify the exact amount when referring to smaller pieces. The metric system was designed to simplify things and eliminate the confusion of converting between units. Proposing that "microbit" be renamed to "bit" would be like saying that "microsecond" be renamed to "second". Like others, I'm for making the microbitcoin the standard unit. I'm also for renaming it something else to allow for even more simplicity. But calling it a "bit" is only complicating things. |
|
|
|
Are people really just too lazy to say bitcoin so they say bit? Just say btc or coin if you cant be bothered rather than bit because it's confusing. It obviously seems to imply a smaller denomination or part of a coin.
In the world of computing, the term "bit" refers to a "binary digit". Outside the world of computing, a "bit" refers to a "small amount" of something. I think that might be why there is so much confusion for those who are not familiar with the terminology used in computing circles. I've always assumed that Satoshi chose the name "Bitcoin" to represent "a form of money made out of binary digits". |
|
|
|
[ApplianceStore] - For the purchase and growth of an existing, profitable appliance business. 20 Page Business Plan - https://www.dropbox.com/s/p5yui819hcm439j/Business-Plan-Final.pdfDaily Reports & Payments - https://bitcointalk.org/index.php?topic=615885.0
Of ImportanceRevenue - $516,000 Per Year - Expected to increase moderately near term and more rapidly over the next 12-18 months. Expenses - $396,000 Per YearDetailed information available in the business plan. Transparency - Transparent business operations and constant updates. This OfferDaily Returns - 10% of daily gross (management fee) is shared between all partners. See reports thread to find past daily dividend amounts. Monthly Dividend - Profit share is paid monthly with no profit held back. Bonuses on first 10,000 / 50,000 / 100,000 units. Read below. 300,000 Units - 30% Of OwnershipFull Cost Per Unit - .004 EachEarly Bird DiscountsFirst 10,000 Units (Group One - 6,262 Left) .0025 Per Unit
.002 Per Unit @ 250 Or More+10% Bonus On Monthly Profit Share (details below)Next 40,000 Units (Group Two - 40,000 Left) .003 Per Unit
.0025 Per Unit @ 250 Or More+ 10% Bonus On Monthly Profit Share (details below)Next 50,000 Units (Group Three - 50,000 Left) .0035 Per Unit
.003 Per Unit @ 250 Or More+10% Bonus On Monthly Profit Share (details below)Bonus PaymentsManagement Fee Bonus100% of the management fee will be distributed to partners until 100% of their initial contributions have been recovered. Example: If one person claimed 1,000 units and no more were sold that person would receive the full 10% of daily gross until their initial contribution was fully recovered. Paid daily. Profit Share Bonus The profit share bonus is an additional % of monthly profit set aside for partners and works like this. The first 10,000 units (group one) will split an extra 10% of the total monthly profit until each of those units are break even. At that point the 10% bonus will be shared with the next 40,000 (group two) units and once those units break even the bonus 10% will be shared with the next 50,000 (group three) units. Additional InformationPartial Units OK - Start with any amount. Only the first 100,000 units are guaranteed at .004 or less per unit at this time. If you provide services that may be beneficial to this business please contact to discuss a trade for interest deal. Once our growth strategy has proven effective we plan to do a second phase IPO, with no dilution, and offer units at a price of .2 per unit. We expect this to take between 12 and 18 months. Participate NowSend BTC To >>> 13c9kuUBBmni1VF3T5Mt1yo1gwBdka3NZ4Then PM or email to confirm the transaction. Would prefer to return to send address but if notified first will send elsewhere. Unconfirmed transactions will only be returned to the send address.Contact UsQuestions / Comments Welcome. Please post, PM or email southernappliance@crowdendeavors.com. Full Business Plan & Overview. I've got a washer and a dryer I'd like to donate to you. Where do I drop them off at? |
|
|
|
|
Show Posts
