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Where are you located?
Florida, United States. |
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wtf? YOUR MATH is off
Even if the block did halve or the difficulty goes up he would still be able to repay such a small loan lmao
3 jalapenos = 10.5 gigahash, under today's circumstances that is like $15k a year or $40 a day. After block halves it will be $7-8k a year or $20 a day.
Even if the difficulty+block halving reduces his earnings to $1k per year then he would still be able to pay back.
What is your logic like?
Currently, 3.5 Ghash is 13.07 BTC a day. Let's assume the difficulty jumps, say 10 times. 26940479.5296 * 10 = 26940479.5296 His daily mining reward on that will be 1.31 BTC daily. Now, let's half that. 1.31 / 2 = .655 BTC daily. 18 / .655 = ~28 days He will default on his loan if these situations occur, and my math is correct. EDIT: I'm sorry - I suppose I should have specified in my OP that the return on the loan won't have anything to do with how much I make with the machines, it's simply a loan to to get me an extra one to start. If I make enough with the machines then sure, I can return with those BTC's, however the loan will be returned at a minimum of 17 BTC regardless of how much I actually earn from mining with them.
Ohhh, I'm sorry. I assumed (With the newbie-ish title, and the content of the OP) that you will be paying back with the Jalepeno. Sorry. Not a problem, was my fault, should have mentioned it in my OP. However there is a small error with your math, with those calculations, you assuming I am running one jalapeno, when this would be my third unit. |
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Currently looking for a loan of 15 BTC, to pre-order a third jalapeno from BFL. I will return a total of 17-18 BTC, however I can't give an exact date. Why is this? because I can't give an exact date of when I will receive the machines from BFL. Even though they say pre-orders will begin shipping from late October-Early November I'm almost sure that date will be pushed back. If I receive the machines mid November, I will give a return of 17 BTC December 15th, 2012. If I receive the machine mid december, I will return 18 BTC on January 15th 2013.
I don't mean to look like the bad guy, but your calculations and math are under the assumption that: - The difficulty stays the same (which it won't when ASIC's come out, making your 1.5Ghash more like 150 mhash today. This assumes difficulty changes by 10x)
- The block reward stays the same, which it won't. It will be halving soon.
I'm sorry - I suppose I should have specified in my OP that the return on the loan won't have anything to do with how much I make with the machines, it's simply a loan to to get me an extra one to start. If I make enough with the machines then sure, I can return with those BTC's, however the loan will be returned at a minimum of 17 BTC regardless of how much I actually earn from mining with them. |
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I'm assuming clear since i'm fairly new.
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Go with 100% business only, strict rules about posting on types of threads,
Like the securities thread, Should be allowed only for posting that pertains to news or valid information about the IPO. Then leave a section for IPO review that people can talk about IPO's and say whatever they want.
Make a section for Lending business, Mining, Deposits, High Risk non backed securities and "Real World" I say real world like someone was to say they were going to open a bar, they could post there about how they are going to go about it.
People of course could ask questions but not just come on there and say " Your idea sucks your a scammer" They can put that in the IPO Reviews with there proof or notion why. Do not allow for duel IP registration this will stop SOME not all sock puppets. If people do not obey the rules to the sections of the forum block them from that section. I think a respectful approach would be the best, not a Noob gamer type thing like here. Require members to have logged time only to post in the IPO section and Reviews.
Thank you for your suggestions. I guess now I should decide which open source forum software I want to utilize, since I don't plan on shelling out the nearly $200 for IPB or vB. Not to fond of SMF, so I will be looking at phpBB/MyBB. |
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Currently looking for a loan of 15 BTC, to pre-order a third jalapeno from BFL. I will return a total of 17-18 BTC, on December 1st. I understand most of you are thinking BFL isn't accurate with their shipping times, however when I receive the machine has nothing to do with you getting your return.
EDIT 9/17/12: Received 12 BTC from a close friend, only 3 needed now.
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Ill help with what I can if you need ideas or input, Ill be happy to help you out.
Mainly I'm just looking for some ideas regarding a Bitcoin community that hasn't been done before, I don't just want a simple forum like this, I want something more. Something that will attract good,contributing members of the Bitcoin community. |
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Pretty sure this belongs in the Marketplace>Loans section.
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This is pathetic. Really is... Another bitcoin forum - i get offered 20 BTC straight away without any low IQ morons being idiots.
Why didn't you accept that offer? |
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Im not going back to Flippa, and i would recommend NOT going to flippa.
The site, - flippa.com shows you oh yup - List your website, there is no mention of fees or costs...
Then once you setup your site for sale in flippa, OH LOOK LETS SILENTLY PUSH THE USER TO THE CHECKOUT FOR $29 USD.
lol........ What a silent scam.
Sedo has fees as well, however they are not presented until you actually have a buyer and are ready to do the sale. Parking & listing your domain for sale are completely free there. |
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Does he mean all pre orders or those already ordered now? If they dont ship till early Nov, they have 6 weeks worth of orders still to come. That 7k orders could increase dramatically as details start to come out about the hardware!!
If he stated all, I think it's safe to assume he means all pre-orders. |
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Hello, I'm looking to start a Bitcoin community website. Something like a nice CMS with forums that would have latest news about Bitcoin and maybe even a widget that could view exchanges. I've already got the domain and hosting, so I'm looking for a partner or two that have at least some web/graphic design experience. Not trying to make and money off of this, just something to do for fun. If you have any suggestions that you think could expand on my ideas, feel free to PM me.
Think you should make it a Business only forum, post rules about off topic posts, trolls and other things. This site fails to maintain a business type stance, its more like a gamer forum or something. Agreed, it would be strictly moderated. Looking for a couple partners to help with this venture. |
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just use an online wallet like blockchain.info, then use it to send payments, the IP address would be blockchain.info's address
Speaking on this, BlockChain also has an optional "mixer" you can send/receive Bitcoins with for an extra 1.5% fee. |
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Hello, I'm looking to start a Bitcoin community website. Something like a nice CMS with forums that would have latest news about Bitcoin and maybe even a widget that could view exchanges. I've already got the domain and hosting, so I'm looking for a partner or two that have at least some web/graphic design experience. Not trying to make and money off of this, just something to do for fun. If you have any suggestions that you think could expand on my ideas, feel free to PM me.
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If you also accept non-BTC than either flippa.com or sedo.com are good places to start.
Have had several successful domain sales with sedo, would highly recommend. |
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Rather than go crazy with mining, I'm thinking about getting the ButterFly Labs Single and just leaving it running 7x24 in my office. I filled out their contact form to learn about shipping delays, but so far haven't heard anything back. Does anyone actually have one of these devices? Does it work? How long did it take to receive after ordering?
And yes, I realize there is a new ASIC coming out, but $600 seems throwaway for a cool cube, $1300 seems like an investment.
So basically you are saying you don't want to wait for the ASIC and you want to pay 4 times more for nearly 4 times less the hashing power of the upcoming jalapeno? |
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Maybe he thought it was some Internet game currency, e.g. WoW gold?  Hope it didn't ruin your chances and that you get the job though. This. When I begin to explain Bitcoins to someone who is not familiar, I feel like they automatically think it is simply an internet game currency. |
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Oh the excitement you will have exploring this great currency  I've been here a week, made practically nothing, and I'm STILL addicted, lol... Looks like we are in the same boat! Hopefully that will change, have you invested in any rigs? Not yet, but I am looking for an IRL job to fund my bitcoin madness, lol... I'm hoping to have my first REAL rig within the next 2 - 3 months... I'll let you know how the BFL SC series performs, should get my order within that timeframe. |
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tapatalk has a long history of exploits. If people want it, great, but don't force it on all of us. I'd rather use the mobile browser than tapatalk, personally.
Same here, I have no problem browsing on my Android. |
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So many pre-orders with 0 proof that the ASIC tech will even work.... its just blows my mind that so many people will throw thousands into a site that sells you a place in line...
I have a few worries, but $170 of investment isn't much for me. Can't speak for people who have pre-purchased single SC's or even mini rig SC's, for me that is just too much to invest in something I have yet to see actual proof of, though if I have owned BFL machines before I could have a different outlook on this. |
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