How does it work?

Each square begins at 0.000001 BTC or LTC. Every square has a unique timer duration. Whenever a square is purchased, the timer resets to its maximum and begins counting down once more. If the timer for any square reaches zero, the cost of the square resets to 0.000001. When a square is purchased, the space immediately becomes available for purchase with a doubled price.

What happens when my square is repurchased?

When your square is repurchased, your account will be credited with 90% of the purchase price paid by the repurchaser Your ad will be removed and replaced by an ad chosen by the new purchaser. If you choose, you can enable email notifications to alert you that one of your squares has been repurchased.

Example: Joe buys a square for 0.00024 BTC. He chooses one of his ads and now his ad is displayed in the square. The counter for the square resets to its maximum and begins counting down. The square is now available for repurchase for 0.00048. Tom decides he wants to buy it, so he pays the 0.00048 and places his ad in the square. Joe's ad is removed and Joe receives 0.000432, which is 90% of the new purchase price. The counter resets to zero and begins counting down again. The square is now available for purchase for 0.00096

What if the counter reaches zero on my square?

Your ad stays in the square, but the price resets to 0.000001.

Actually, I finally got the google analytics  running right, so I did another run on Coinad just to double check the results. 500 impressions got me 16 new verified accounts in 12 hours, which as far as I can see is well worth the price of the advertising. I am going to try doing 500 impressions every few days and see how long it takes for diminishing returns to take over. I will try coinurl once the returns drop, which I expect will be less than a week. I would have to say I am quite happy with them so far.

It goes directly into the account you created.

The only real catch it that the minimum withdrawal is 0.01 btc. With a little bit of effort you could conceivably parlay it into quite a bit more than the minimum withdrawal. It's just a little fun btc to get you started at no cost to test drive it and see if you like it.

Total speculation here but I do recall FC mentioning that he was addressing the orphan block / no transaction fees issue. It may be that a portion of his hash is aimed at BTCguild or something. He has done so in the past and we might not see it until the coins move on divday.

In response to a PM, it works like this:

There may be a glut of strip-stores in a particular area. Suppose them to be at 50% occupancy. You might ask yourself why just a block away they are breaking ground on another strip store. The answer is rather bizarre. A developer grabs some paper and scribbles down some numbers. He runs them through a few other people who mix them all up, and when that paper is revised 20 times it becomes a prospectus. This prospectus is provided to an investment management firm who then sells the idea of profitability to some fund managers and investors. Individual investors in these funds find their nest eggs moved into securities that fund the construction of the new strip store. The strip store is built, and the following list of people profit:

The property owner
The developer
The construction team
The contrators
The municipality
The fund managers
The investment management firm
The listing /rental agent

Then the space is put up for rent to retailers. Those who move into the nice clean new spaces pay huge premiums for leases, and usually go bankrupt. Then the leasing agent lowers the lease prices, but is still unable to keep 50% occupancy like all of the rest.

Who loses? The individual investors who were moved into the securities that promised big fat returns.

This is the fate of ASIC manufacturing. They will overproduce even when it is completely unprofitable because IT IS NOT THEIR MONEY! They get paid whether an ASIC hits ROI or not.

The concept is that eventually you run out of stupid money, or at least the level of stupid money required to continue producing things that will be worthless to the end user.

BFL moved from the category of "Vaporware" to the category of "Delivering massive hash".

I have some serious concerns about the future of ASICs as stated in the OP. I think that difficulty increases will destroy the ASIC manufacturers. Even the most efficient ASICs imaginable will stop production when their cost to produce is greater than the expected positive ROI. Eventually no one will buy them, or at least no one who has had third-grade math classes.

Those who own them after production stops will run them at a small profit until they fail. Perhaps someday there may be fiat to be made producing them again, and I am sure people will try from time to time to make new ones. They will probably make enough to replace the ones that eventually burn up, and then go bankrupt like all of their predecessors. And new farm schemes will be floated in front of investors and bring in some btc to fund new production, but these will also likely fail.

Eventually, I expect if BTC succeeds we will see small hashing chips added to things like cellphones that will bring in a slow trickle of satoshis to billions worldwide, bringing a close to the age of ASICs, and the fulfillment of a fully distributed system concept.

At least that's how I see it.

Coinads delivered, and even responded to my email. I will probably consider using them as part of a long-term marketing strategy. next up, CoinURL.

Things move a warp-speed in the bitcoin universe. This generates a particular form of time-dilation that has the effect of compressing the "Yes, but what have you done for me lately" syndrome. It is a disease of perception closely related to "Space Madness".

"Others promise, Friedcat delivers." This is as true today as it was yesterday.

Any preorder from any manufacturer anywhere in the bitcoin universe is a roll of the dice when it comes to ROI. I understand people trying to compare a preorder with BFL or Avalon with a preorder from Apple, but surely everyone here knows going in that they are completely different. It would be nice if bitcoin was a mature system with mature manufacturing and distribution channels for ASIC hardware. But it isn't. You know that, I know that, we all know that. Any preorder in any bitcoin hardware is a gamble, pure and simple. Every company promises X hash at Y delivery date, and none of them ever comes close. Maybe someday someone will, but only time will tell.

ASICminer sells hardware on-hand, and does not take preorders. They do it right, but then everyone screams that their hardware will never make ROI. This is the state of bitcoin ASIC technology. You roll the dice on a pre-order or you buy something you can get in a few days at a price that will never achieve ROI.

I don't see the venting against BFL or any other manufacturer as very constructive, unless it has some therapeutic value. Blaming the dice when you crap out makes you a poor gambler.

Nice work. Please add http://satoshisquared.com

New take on chaingames that allows you to post an advertisement instead of just getting nothing for your time and trouble if it times out. 9 squares with timers that reset to maximum whenever a square is rebought. Accept both BTC and LTC.

So, on the 15th I sent some BTC to BitVisitor. They promise ads up in 24 hours. Never happened. Sent email asking what the deal was on the 17th. No response. I think I can safely scratch them from my list of advertisers.

Next up, coinads. sent them some BTC, lets see if they will do as they promised. Just have to wait for 5 confirmations, or so their website says.

I will probabaly work my way through every advertiser one at a time and then report on who actually does what they say they will.

So, I started a new site http://satoshisquared.com, and then got about the business of getting the word out. Unfortunately, many of the things available for marketing a website don't really seem to apply in the bitcoin world. For example, where you land on Google is not generally as important as how well you are known on the forums. There appear to be literally hundreds of folks trying to get into the business of promoting your site, but we are still in the "Wild West" phase and it is hard to tell what services are legit and which will just take your BTC and laugh as they take their boat to the Bahamas. I am looking for suggestions for quality advertising as well as services that should be avoided. With any luck, this thread should provide other people in the same boat as I with some good information. Good faucets, bad faucets, good ad distributors and circulators, bad ones, banners, press releases, even general promotion services.

What works and what does not?
What is worth it and what is not?
Who will rip you off?
How do you get the word out?

We are working for a patch to include other character sets such as Chinese. It appears our friends around the world are enjoying this!

Each square has it's own timer, 1 day, two day, 3 day, etc. Each time the square is re-bought, no matter where the timer is it resets to it's maximum and starts counting down again. If the square is not re-bought before the timer reaches zero, the price resets to 0.000001 and the timer starts again at the maximum.

Since this is a relatively new venture, we have only just started advertising, and it has been live for less than a week we have no reliable pageview or impression statistics yet. We do expect them to increase steadily as we increase the advertising the website over the next few weeks.

Now advertising on several faucets to bring in more players. More players = more fun!

Keep it going! Thanks for all the feedback!

2 squares just reset, 3-day and 1-day: Get them while they are cheap!

Dividends received on-time as-promised as-usual. Thanks!