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Man, don't let greed to take over, and don't fool yourself. BTC has high rewards because it's very risky. That's why allocating 50% of your resources might not be wise. Sure, it depends on your situation, for some risking 80% of their resources could be worth it (because they're young and they can make back that money working quite easily, or because they don't have a family to look after), but for the average joe an exposure of 40%/50% to BTC is not wise.
You take for granted BTC will tenfold again - sure, we all agree is probable, but you must acknowledge it's also very possible it goes to 0.
And you may just be happier working on some real economy unrelated to pure speculation, while holding a BTC stash you're confident with, not constantly checking for the exchange rate
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Its silly how much people pay for the Erupter Blades. I don`t support their practice of auctioning everything out either since they know demand is skyhigh. They don`t do it to help people make a good deal since it can never be a good deal. They do it to earn the most money on each Blade.
55 BTC for one Blade is just too much. Thats $7800 in todays price. It will take people about 3 months to just come out even. With BFL shipping units each day, with the many DYI Avalon projects out, its a really big risk.
First, ASICMINER is a business. It is their goal to make money. They aren't twisting our arms for BTC. I trust that soon they will sell their blades at a fixed price. For now they are just trying to acquire as much profit as possible. Second, the blades are expensive but it is a gamble. I am gambling that I will make more BTC with this blade than I could by ordering from BFL or Avalon. In reality I will likely order from both companies once their shipping times become predictable. Well I dont care that they are a business. I don`t support their methods. Their actions is created to make a buzz, not to mention high price. They are actually shipping out the blades, I give them that though. For 8000 USD you could purchase 20 * 7970s, have a hashrate of 15GH/s (4GH/s more than Blades), have the possibility to resell them after you are done with them. Or shift to Litecoins. With Erupter Blades you are kinda stuck since they can`t be used for Litecoins. Its all or nothing It is what it is and buyers are setting the price for a scarce item. |
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What is Bitcoin's Capitalization? 1.5 billion? If this is happening in 5 years... It's amusing to watch the scared people shout 'Bubble, bubble' while others grab the opportunity by the balls. I say at the end courage will be rewarded, and cowards will be left with regret.
Yes! My only concern is how to capitalize on low prices now! Seriously, the $140 price of BTC will be a steal in a few years. When it was skyrocketing my thoughts were "everyone is starting to get how big this can be now!" So, husband and I went all in at that point. Wish we could have seen the drop that came, but I have no regrets. We have a nice little pile. Nothing like some people on here I am sure.  But even 100 could be worth millions someday.  To get to the point in which they are worth millions you will need strong hands, the ride will be extremely bumpy and can always end badly. |
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Well, one of the side effects of BTC, people scrutinizing what you do with your funds
They have said many times they are hardcore BTC supporters, they said literally that they would fall and raise with BTC. Nothing strange, nothing to discuss and nothing to worry about them holding coins.
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There are already big players who actively try to limit volatility.
Thanks for your answer. You've given me a lot to think about. This was the kind of conversation I hoped to start. Sometimes, looking at the walls, it does seem like there are major players trying to limit volatility, but I have to wonder why they are so unsuccessful! They let the price go stratospheric, then crash by 80%! The result was a slew of bad press. Was that their goal? I cannot see how this can be good for Bitcoin in the long term. They don't even seem to be able to stop the micro flash crashes. Today around 12:50:00 we saw prices go from 134 to 131 to 139.88 to 135 in a 10-minute period. That's not very stable. On a slightly larger scale, in the past week the price went from 110 to 166 to 120. Very unstable. Is the problem that they don't have enough money to counter the actions of the manipulators? If so, then perhaps they need to recruit more people to help, which is the point of my proposed group. Is the problem that the manipulators made the stabilizers ineffective through DDoS? If so, then are they planning to make better use of limit orders from now on? Are they considering taking action in the future to stabilize prices on the other exchanges when Mt.Gox goes down? Perhaps we need more discussion about how best to stabilize the market, because they are not succeeding using their current methods. This happens because market depth is ridiculous. Just check the order book charts, nowadays we have aprox. $20M sitting on the bid side and BTC140k on the ask side. Volumes are low, this is penny stock market, a peanut in economic terms... And thus crazy, fun and unstable as hell |
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A 50k btc dump would merely bring us to 120... Nothing too scaring.
What's scaring is the lack of updates. They updated us during the "black period" of batch 1...
A 50k BTC dump would break past the $120 wall actually, would bring us down to $105-110-ish. Probably also induce a panic sell from spectators that have no clue what's going on. I don't think they would dump 50k on the market, you want to avoid slippage, the scarce depth of the market is obvious, and unless you panic or wish to induce a dip (to buy back later) there is no sense in dumping He's saying they have to sell BTC to pay TSMC (the foundry) for the chips. Its not if they would its when they would. Unless they have a huge stash of RMB to pay them, or TSMC starts taking BTC. Seriously guys, this is nothing to be worried about. |
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Fair enough sir; and as you've alluded to, ASICMiner itself is probably your worst enemy. The auction of USB miners is this Wednesday, and they're already pushing 9TH+ themselves.
The USB are neat. I guess a lot of people will pay much more they can mine just to have one of those amazing toys. Conceptually they are much sexier than the blades, they are a killer as a mass product, it could spread mining as we have never seen before. |
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A 50k btc dump would merely bring us to 120... Nothing too scaring.
What's scaring is the lack of updates. They updated us during the "black period" of batch 1...
A 50k BTC dump would break past the $120 wall actually, would bring us down to $105-110-ish. Probably also induce a panic sell from spectators that have no clue what's going on. I don't think they would dump 50k on the market, you want to avoid slippage, the scarce depth of the market is obvious, and unless you panic or wish to induce a dip (to buy back later) there is no sense in dumping |
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Bulls, could you kindly shut up please? Each time you say rally is starting it goes back for dollar or two  I think we go down to $120 again now. That would be a nice point to buy some more. Exchanges will improve, news is still positive ATM, everything looks stronger in mid term |
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For a $149 investment it'll repay itself and make $1300 on top in one month of mining.
Think again. You paid about 23 BTC 10 months ago. You'll make .3 btc/day. Even if the difficulty doesn't skyrocket (which it will), you need more than 2 months to just break even. You aren't making any profit for a long time. No, he paid in USD, just like everyone else. Nice try, though. Just like everyone else? I paid in BTC, this is a fact that can be proven. I don't think I'm entitled to a BTC refund, but this does not change the fact that I paid in BTC. |
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Right, because when kiddie porn was first put onto the internet, everyone freaked out and stopped using the internet. Please, if you're going to FUD at least have the decency to do it well. I have no intention to spread FUD But you won't deny that's the type of headline that would make quite a lot of people to freak out if it arrives to mainstream front pages. Hopefully it won't be given any credit. |
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looks legit, I'd buy two
I bet you would. That's why you're a newbie You bet? Remember, remember, the 9th of September |
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There's really people who actually sent money to a scammer with <100 posts while a mod (Tysat) was screaming that he had no complete ID proof?
I guess and I hope they were all sockpuppets, but if someone really sent money to such a sloppy and obvious scam that makes me really uncomfortable. Scammers are going to target these forums intensively if people in here is willing to part with their hard earned money so easily.
Yea, kind of surprises me too. No one ever asked me about ID verification, even after I posted the details in the thread. I think there is a good chance they were all sockpuppets. I checked a couple of them and what a coincidence, they all speak german and stopped their activity after the stunt... |
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Si lo pudieras pagar y recibir en unos días en casa sí, el problema es que no están a la venta, sólo puedes hacer una preorder. Y si hicieras la preorder ya, te lo mandarían entre julio y agosto. O eso me dijeron los de butterfly esta semana, que les mandé un mail.
A mí el consejo que me ha dado mucha gente es o bien que espere, o bien que consiga un preorder del 2ºbatch de avalon, por el que están pidiendo un pastizal.
yo personalmente voy a esperar a ver como evoluciona todo esto.
Te lo mandarían entre Julio y Agosto? Sigue soñando... Ah, o quizás te refieres a Julio o Agosto del 2014. Entonces sí, puede que sí, pero tampoco es muy probable. |
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There's really people who actually sent money to a scammer with <100 posts while a mod (Tysat) was screaming that he had no complete ID proof?
I guess and I hope they were all sockpuppets, but if someone really sent money to such a sloppy and obvious scam that makes me really uncomfortable. Scammers are going to target these forums intensively if people in here is willing to part with their hard earned money so easily.
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Goat is selling, everybody panic! I'm still bullish. I also have already covered most of what I sold from a local guy who had been begging me to buy for a week now. I'm going to lose some money on this deal but I wanted to call his bluff if it is one. If it is not a bluff and he can move 100k USD at the drop of a hat then respect. Time will tell. IMO moving 100K is not a big deal, considering that just a few months ago BTC was at $14 and a lot of people here have considerable profits. If he proved he can move 1M (7,000BTC)... Well, that would be something. |
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Yeah, I see that you could be buying an ASIC for less than its manufacturing costs... But IMO that could make sense ONLY if you were buying the BTC to buy that ASIC when the exchange rate is very low... And in any case I really don't see the point of buying a product meant to generate BTC for more BTC that it will generate in all his lifetime cycle.
Sure - it's very improbable that such a decision would be profitable. It's sort of like shorting btc, and there are other ways to do that which are more likely to be successful. In both examples I was pointing to unlikely edge cases. Still don't know why people are paying so much. I guess it just greed taking over - a good example about how anxiety and greed are your worst enemies when taking financial decisions. |
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I just see everyone laughing to people who bought blades at such high price. Did it ever occurred to anyone that they now can replicate those blades and make themselves their own ASICMINER you know reverse engineering and stuff? And also they delivered unlike some other manufacturers.
I don't think anyone is laughing. I just think people are trying to figure out the reason for paying such a high price, since it's not an expectation of earning what they spent - unless they know something about the exchange rate and the other manufacturers that we don't. Well, I don't think exchange rate is something to take into account - as those blades are paid in BTC, if the buyer thinks that exchange rate will grow considerably it would be wiser just to buy BTC and hold them. The only point to buy the blades is to get at least 100% ROI on the BTC spent... Or maybe to do some reverse engineering work as seljo suggested, but AFAIK no company could easily and conveniently replicate the ASIC chips without the design. Ans if the exchange rate goes down significantly .... ? Well, I don't see how it could be convenient to spend more BTC than a miner can generate in his lifetime because you foresee a decrease on the BTC/USD exchange rate. If you think the exchange rate will drop, it makes sense to short BTC... But I really don't see the point in buying a miner for an amount of BTC you won't be getting back. the exchange rate drops enough, then they will have bought a device for less than the manufacturing costs. Of course earning anything significant after that is an issue, but an ASIC would be a better investment than keeping the bitcoins. I don't think the exchange rate is likely to go down to a few percent of what it is now, I was originally just referring alternatives (to just overpaying for the blades) I thought highly improbable. I'd really like to know the reason for the current pricing. Yeah, I see that you could be buying an ASIC for less than its manufacturing costs... But IMO that could make sense ONLY if you were buying the BTC to buy that ASIC when the exchange rate is very low... And in any case I really don't see the point of buying a product meant to generate BTC for more BTC that it will generate in all his lifetime cycle. |
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