Ripples are like stamps. Stamps are hardly a good store of value.
Even if that were true, what's your point? How does that have anything to do with the Ripple payment network? It actually was a Ripple dev that made the stamp analogy (citation needed). My point is that stamps (XRP) are not a threat to currency (BTC). You need XRP to make transactions in the Ripple payment network. Personally I think the Ripple payment network with it's many payment gateways is really awesome. I just would not 'invest' in XRP. |
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I believe that we can. Thanks to bitcoin, we know how to build globally distributed peer to peer networks that allow direct transactions between parties. Thanks to namecoin, we know how to use such a system for arbitrary assets, and we know how to utilize the hashing power of the bitcoin network to provide extra security.
+1 I'd love to see a namespace for securities/assets in Namecoin. http://dot-bit.org/NamespaceBitcoin for currency, Namecoin for entities. And thanks to merged mining it is a win-win. |
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Ripples are like stamps. Stamps are hardly a good store of value.
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That has what has always baffled me from day 1 when FC announced Gen2 would happen Nov/Dec. I should have sold then ;-)
Same here, although at the time I was still buying into to the notion that Friedcat would underpromise and overdeliver. Now it seems that will be underpromise and underdeliver... The current divs are still decent though, but I wonder how long that will last without AM making the leap beyond Gen1 soon. And with soon, I mean yesterday. |
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• We made an order of another brand of power chips which are about two weeks late. In October this will provide another 500TH/s (Gen1).
• If any deal of ordering Gen1 chips from outside buyers via us is reached, additional orders will be made.
• The size of the Gen2 order will be decided as appropriate, according to the network difficulty when it is time to finalize the order size.
Anyway, this is pretty much underwhelming. Probably gonna see a quick pop upward in the exchanges, until people realize that FC hasn't even negotiated a Gen 2 order size yet, and that AM is going to war with 500GH of 1st gen hardware (which is 2 weeks late™).
I agree. Looks like AM lost their head start and is still fully focused on 130nm Gen1 hardware. That is not going to be a viable long-term strategy. Even the Gen2 products @55nm are going to be more like Gen1.5 when compared to the 28nm chips coming online in bulk from various vendors in Q4. Too little too late. |
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The Raspberry Pi will ship with an SD Card pre-loaded with the standard Debian/Linux derivative Raspbian OS, complete with CGMiner pre-installed. Nice, but why not ship with minepeon pre-installed? http://minepeon.com/index.php/Main_Page |
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Love the smell of panic selling in the morning! This little piggy is going to the market  |
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1. Absolutely none of them have read what they actually agreed to, let alone saved copies of the terms they agreed to on the exact day of sale.
Actually I did. For reference, here is the August 9 ToS: http://pastebin.com/EfS9vmRf2. Hashfast conveniently neglect to tell anyone what they are really doing and when they make these changes.
Agreed, I hate it when this happens. In some cases they also don't update the revision number. Not sure if that is intentional or not, but it sure is sloppy/unprofessional. That said, I do put more trust in HashFast when compared to other ASIC producing companies (with the exception of ASICMiner). I believe they have good intentions and will deliver a top notch AISC. I also like the MPP. The keywords being 'believe' and 'trust'. If that will be enough to warrant a purchase, we will see. I'm not sure why HF has both the BJ and Sierra product lines. They should simplify and just have one product that can be extended with additional ASIC modules. It seems to be a certainty that batch 1 will need additional modules as part of the MPP. So why not upgrade those orders to a Sierra from the start and take the BJ out of the lineup? Keep it simple. |
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I think the USB stick mining space is actually very significant so I'm happy that AM should be able to keep emphasizing on that with Gen2 as well.
Yes, I remember the dividends of the first USB sales. Yummy. And the financial showed more revenue from USBs than from blades! There are BitFury-based USB miners in the works though? I do hope that the Gen2 USB sticks will be able to provide at least 2GH/s and that they will be available in bulk from day 1. If they only provide a 2x increase (.333 GH/s > .666 GH/s) they will fail. Getting ~1W per GH @ 55nm might be challenging but not impossible so we will see... |
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I'm an AM shareholder and I hope we briefly dip to 1.5 BTC before the Gen2 announcement because I'll be buying.
The mining landscape is changing rapidly but FC had a significant head start. I don't believe he is a clown. And although I wish he would communicate more I also believe actions speak louder than words. Combined with his business ethics I feel comfortable riding things out with AM until at least the next halving.
The only thing I worry about is how competitive AM can be with 55nm hardware over the long run (9-12 months) when everybody else has moved to 28nm.
On the positive side, all the new hardware producers (Cointerra, Hashfast, etc.) seem to focus on bigger chips (400GH/s+). I think the USB stick mining space is actually very significant so I'm happy that AM should be able to keep emphasizing on that with Gen2 as well.
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cool so when are you going to give the coins back to the people you stole from either intentionally or through criminal negligence?
^ this. While I appreciate the work Amir is doing for the community, he left a lot of Bitcoiners hanging with Bitcoinica. Don't turn your back on us Amir. |
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Ask an average miner which they'd rather do:
Purchase a widget that costs 10 BTC and will generate 400 BTC, valued at $2 each or
Purchase a widget that costs 10 BTC and will generate 5 BTC, valued at $200 each
Invariably, the answer will be the second option, even though that person could have increased their BTC holdings by 40x! Very few people want BTC for BTC sake, they want BTC for what value it provides in their local currency. Again, you may be different, but you are in a very tiny, miniscule minority.
So you are basically saying that the vast majority of miners are complete idiots? |
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3) Also, please note: We will soon be moving away from the MtGox Weighted Average Exchange rate for the direct bitcoin transfer payment option. Take advantage of this high exchange rate Now!
Wait... Given the fact that there is a 10-20% spread between the MtGox exchange rate and the Bitstamp rate that Bitpay uses, does this mean that customers using BitPay paid significantly more for their orders compared to the direct bitcoin transfer customers? I would assume yes. http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.htmlWell, that is not cool. HashFast customers using BitPay will have overpaid by ~15% then. Otoh it means that the MPP should kick in sooner for these folks but still... |
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200 gone with some mining karma back
I'll take the karma. Friedcat has integrity and that is worth a *lot* in this climate of scammers, opportunists and fraudsters. |
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3) Also, please note: We will soon be moving away from the MtGox Weighted Average Exchange rate for the direct bitcoin transfer payment option. Take advantage of this high exchange rate Now!
Wait... Given the fact that there is a 10-20% spread between the MtGox exchange rate and the Bitstamp rate that Bitpay uses, does this mean that customers using BitPay paid significantly more for their orders compared to the direct bitcoin transfer customers? |
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Nice move Josh. Hopefully this indicates a positive change in attitude for both you and Phin.
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BFL helped me lose my anal virginity. Thanks, BFL!
True story. |
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I too am interested since mine just came in today. Anyone have suggestions for quieter, but still efficient fans? This thing is louder than a 5970...
I mounted my board in an open Mini ITX case and replaced the stock fans with silenx fans (one 120mm and one 100mm). The system has been running virtually silent @30 GH/s for the last 2 months without issues at ~68C. The power brick is now the noisiest component in my setup. http://www.silenx.com/quiet.fans.asp |
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Thanks HashFast. After the initial screw ups with the webshop and all it seems you guys are moving in the right direction. I'm happy with the MPP as it stands (including the fact that ROI is calculated in BTC, as it should). So kudos for that Looking forward to the upcoming news on the tapeout! |
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