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I've emailed a buddy musician of mine to see if he's interested in putting any music up. He does some pretty hardcore stuff at times...
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I'll be sure to head back to this thread in October before commencing any trades, thanks for the heads up.
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I wonder if the EPA made them burn all the fuel and such, as they would the rest of us.
I would imagine any unused fuel has been removed via pump to be used elsewhere. THAT'S a cheap process, and considering how expensive fuel is, they'd be fools not to. Also, @OP, because blowing stuff up is fun, and boys never grow up. |
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I expect the emerging of a large ASIC industry (if it happens) will lower the value of bitcoin by reducing the number of miners and thus the number of participants and the size of the bitcoin economy.
That's the one concern I have with this as well. A lot of the people currently interested in Bitcoins are interested because they are mining them "for free". Take away that "free" income, and those people are just going to disappear. |
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I know damn well the cost of a mask set and packaging, and the engineers still need their salary. But I was asking why must there be a "competitive advantage"? I'll bet that even if the thing were crowdfunded, that the one making it would still demand secrecy, just because that is the way it has always been done.
When I put on my investor's hat, I start running scared because of the potential cost and devastation to the entire economy to be running this operation. When I put on my miner's hat, I see a concentration of power that could have been spread to keep the network secure, instead all working under the thumb of one group of investors, some of whom may not have the positive motivations that I am sure Vladimir has. And when I put on my end-user's hat, I see the rich getting richer and the poor getting poorer, just like the failed world of today.
Maybe as a peon myself, I don't understand what it's like to be rich, and why the rich must continue to become more rich. Perhaps if I had a larger discretionary income, I wouldn't be preaching about this, and would be demanding NSA-level secrecy about my organization, my investors, my product, and my vision of the future. But I'd like to think not, and I'd hope that others would feel the same way.
Why must there be a competitive advantage? Well, so that a company can remain competitive! If they don't remain competitive, they may not be able to make back their initial investment. It'd be like spending $1B on a new medication, then handing out the formula to anyone who wants it. If a company did that, they just wasted $1B, and will never be able to make that money back from sales of the medication, as they'll have to compete with everyone else for sales. |
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I've heard of one member of this forum setting up a company and buying some FPGA miners and mining for profit. If you arrange your taxes in a clever way not only can you get the tax back on the purchase of the mining rigs but you can claim depreciation of the assets too.
Electricity is also a cost which you can incorporate. In the first year, with the purchase of the hardware, you will not turn a profit which means more money back from the tax man!
very clever stuff...
When you say "get the tax back on the purchase", are you talking about sales tax? Remember, not everyone even pays a sales tax to start with. Certainly the miners could be set up as depreciable assets, but the net tax effect will be virtually the same as just expensing it all in one year for a simple company. If you take the expense of the miners all in one year, and you don't turn a profit, you'll end up with a tax credit which can be used in future years to offset taxable revenues. I think up to 7 years in the future. |
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Why all the closed door stuff? Isn't it about time that someone --ANYONE-- were a little more open about things like this? When I hear things like FPGA and ASIC, things that spring to mind are insanities such as multi-thousand dollar costs for nothing more than a bit of software that can make the things work, engineering fees that far exceed the cost of the time and materials expended, and on and on and on. It is a pathetic shame that the industry has such a strangle hold on the hardware development that every detail must be kept under wraps. A prime, shining example of a useful open hardware design is that of OpenSPARC T1/T2 - relatively modern processors with a completely open architecture ( http://www.opensparc.net/). Take also for example the kernels used for video card mining - open source. Many minds can find optimizations that may never have been considered before, and everyone benefits. Even if you refuse to share your IP, there is no reason to be secretive about the other plans, since there isn't a whole lot anyone can do without both the IP and the investment money. 1. It can cost several million dollars to develop a new ASIC. 2. If you want an open-source ASIC, you have to find a group of engineers willing to work for free. 3. If a company or investment group spends millions of dollars on a new ASIC, they would be fools to give it away for free. 4. What else do you need to know? Sure, it'd be great if someone developed a free and open-source ASIC for Bitcoin mining. But it's probably not going to happen. Why? Because the software and personnel needed to do the job aren't free. And if you need a reason for companies to not release too much detailed information early on in a project, just look at Matthew announcing the Bitcoin Magazine. He had plans, those plans didn't come to fruition as quickly as he had anticipated, and his reputation is suffering because of it. Obviously, vlad doesn't have all the details of his plan worked out, and doesn't want to share any information about it to avoid raising people's expectations. It can also be a competitive advantage to keep corporate strategies a secret. The more you know about a competitor, the better you can compete against them. The counter to that is making sure your competitors know as little about you as possible. |
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I generally don't play lotteries, because I'm not a gambling man. I know the odds are against me. However, there are a good number of people here who DO play lotteries.
In my opinion, a sizeable jackpot would be no less than 100 BTC. If I was setting up a mega-millions style lottery, I would set the odds at 30% of the ticket price divided by the initial jackpot prize, with half the ticket price going back into the jackpot.
In other words, for a 100 BTC jackpot, I'd give each ticket of 1 BTC a 1 in 333 chance to win. And if 100 people entered @ 1 BTC each the first week, and no one won, then the jackpot would increase to 150 BTC the next week.
Someone tell me if my logic is flawed. I am by no means a lottery expert, but I would expect these odds to pay out in favor of the lottery coordinator to the tune of about 1.2 BTC per 1 BTC paid in.
That might be too slim of a margin for a startup lottery, but I think much more of a margin and people wouldn't enter it.
If you don't have 300 BTC on hand (3 jackpots), you could always search for investors who believe in the idea enough to back you up if the luck stacks against you. Eventually, they (and you) would win out.
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by that I am assuming you mean invest my coins the first couple of weeks to start out the site correct? I planned on doing this already and I will work on changing my lottery from a normal one to a mega millions style once since it seems to never have been done.
@matthew
Ok but if you were a customer what would you like?
The way Mega Millions works is they put up a jackpot BEFORE anyone has paid them any money. Statistically, Mega Millions will come out ahead on the jackpot, but that doesn't always happen. Therefore, you need funds to put up a sizeable jackpot, and you need funds to replace that jackpot if someone happens to win it quickly before you generate enough ticket sales to pay for it. And heck, you should probably have funds to replace the jackpot twice, just in case. So, if you can put up a sizeable jackpot, can replace the jackpot at least twice with your own funds without any help from ticket sales, and can come up with a way to prove that you aren't manipulating the results (i.e., base it on the blockchain with a verifiable result posted prior to the drawing), then I think you might have a chance at building a successful lottery. |
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I am going to work on usuing the API by myself and see if I can get it working before I request any help.
@sgt
I do Plan on differentiating my lottery. As I stated in a prevoius post I plan on making a lottery that works like the mega millions. I do not know of any current bitcoin lotteries that work this way.
@Matthew
I am perfectly fine with not being anonymous. How would you like me to do that. I could go and write a autobiograpghy but what would that prove beside that I can write a biography. I can give you my phone number,my name and even my address.
Mega-millions style would be neat, but you've gotta have the coins to back it up too, and be willing to take a hit if the luck doesn't go your way...! |
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Im not trying to run a scam and that is why I am open with my intension for the future. If someone wants to go and copy me go ahead that just means my idea was good. "Imitation is the sincerest form of flattery".
How would you recommend I improve my rep?
Imitation may be the sincerest form of flattery, but that doesn't mean imitation works in the business world. Differentiation is the key in business. If you want to be successful, you have to show everyone how your product/service/lotto is better than the existing one(s)! So far, this just looks exactly the same as the existing, well-known lotteries, in which case a person will ask themselves, "Why not just gamble on bitlotto instead of this unknown guy's site?" Which is a legitimate question. You have to find a way to attract people to your own lotto instead of using one of the existing ones with established reputation. |
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Kinda annoyed that some people are here because thier greedy, Lots of us have lowgrade and damaged components  Post. I bet starving people in Africa would feel the same way about you having a computer at all. Wealth and greed is all relative. What may seem greedy/unreasonable to one person may not seem greedy/unreasonable to the next. |
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I, for one, applaud Matthew for speaking his mind. There's too much political-correctness in the world today. Honestly and bluntness are in stark contrast of the corporate leaders of the world, who say only what the audience wishes to hear.
Also, would have to agree, Dansker, that the claim that the magazine will never be published is rather empty if you still have said magazine on pre-order. Frankly, you deserve the way Matthew is talking to you.
Hello there apologist! Please bend over a bit more for Matthew, would you? I don't think you understand, so I will explain again: I paid for a product, and out of principle, I want the product I paid for. I do not want my money back, and I do not want excuses. So deliver, and do it yesterday. I'd like to receive my copy of the mag as well, but I'm not going around making claims that it will never be published, while still holding a pre-order and not asking for a refund.  |
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I, for one, applaud Matthew for speaking his mind. There's too much political-correctness in the world today. Honestly and bluntness are in stark contrast of the corporate leaders of the world, who say only what the audience wishes to hear.
Also, would have to agree, Dansker, that the claim that the magazine will never be published is rather empty if you still have said magazine on pre-order. Frankly, you deserve the way Matthew is talking to you.
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Lulz.
Zhou, put those songs up on coindl.com for 0.1 BTC or something.
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Best troll thread ever.
No one's getting a $500 Amazon code, BTW.
Yet you make a post to find out. Mmmm, kind of. But I still know that you're not giving anything out. |
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Best troll thread ever.
No one's getting a $500 Amazon code, BTW.
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Looking at the timestamp data his normal posting hours are between 14:00 & 03:00 UTC.
America maybe?
That'd be 8:00 AM to 7:00 PM Pacific time, or 11:00 AM to 10:00 PM Eastern time in the US. Wouldn't make sense for him to be in Japan, since that'd be somewhere along the lines of 10:00 PM to 11:00 AM. Unless he stayed up all night and slept in the day. I'm going for either Eastern US or Europe. |
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