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Prof: your terms are quite complicate indeed. Just an advice: the simpler, the better.
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Did you consider displaying mBTC/usd exchange rate? What is your plan on that? Did you already established a "tipping point" from which you will start using mBTC/usd instead of BTC/usd?
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I have a batch 1 Avalon. It will not ever return my initial investment. I estimate it will make about 80 BTC over the next 6 months. But I paid 108 BTC for it.
Yet it is worse than that. I bought from all three manufacturers. Because I was hoping to get whichever one delivered first. I paid about 680 BTC for that. One company went broke and paid me back a small fraction of what I spent in BTC (because of the exchange rate inflation). Avalon just delivered one of my units and of course Butterfly labs has yet to deliver.
In dollars if I had saved my BTC they would be worth $70,000. This would have been a much better move.
So those of you who didn't buy Avalons are doing much better than those of us who did.
What are the maths backing up your statements? What is the yearly decline in profitability you are considering? |
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This does not change the fact that in the current capitalism system, money rules. And as you say, anarchists are against rulers.
See, there's the problem, money doesn't literally rule. Basing political ideologies off of idioms is not a useful practice. It's like trying to stop someone from wearing a loud shirt by invoking noise abatement laws. Someone could argue that government doesn't literally rule, as it's people who freely choose to elect their government, thus being their own ruler. And you are also free to to move to a wild and uncivilized area (plenty of islands in the world), where no tax-man will ever reach you. Again, your are free to be your own ruler. Would you consider this as valid logic? I bet not. Well, money rules de facto - the richest set the rules. You are free to work to become richer and set your own rules, but what if you are not interested in it? Same logic for the gov: you are free to present yourself to any publicly elected position and set your own rules, but what if you are not interested in it? Edit: changed some working mistake |
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you make a good point, by mining now at a low rate, they ensure market exists for thier sales
buuut it still does not stack up why they would bother selling
You don't understand the whole context of the Avalon project. It is very simple: Avalon was started by 2 young engineers who had almost no money (*), and no or little experience designing ASICs. They had no choice but to sell pre-orders at a low price (due to the overall risk and uncertainty of the project) to acquire the initial capital required to develop a 110nm chip and the machines ($200-300k or so). Once they successfully manufactured the first batch of Avalons, they honored the pre-orders because they are ethical persons. If they had say at this point "f*ck you, customers, we will mine with your hardware and not ship it to you", this would have enraged the community, destroyed their reputation (so no batch #2 and no batch #3 sales revenues for them), and it would have possibly disrupted confidence in Bitcoin due to 2 guys controlling the majority of the hashing power, possibly destroying the exchange rate and their potential mining profits. That's why. If you knew the 2 guys, you would see they care deeply about the future of Bitcoin and about ethics. (*) ngzhang did not make that much profits from previous FPGA sales, and yifu did not bring capital AFAICS. this post should be stickied so everybody asking "why Avalon is selling a money printing machine"? Can easily find an answer |
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I would suggest that your auction finishes earlier. Right now "time is gold" and the sooner you sell the Avalon, the more is it worth
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1 @ 1.9  Manipulation!! Insiders pumping the price UPPPPP!!! Just kidding of course |
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After that, it was used for the first time in a POLITICAL and ECONOMICAL way by Joseph Déjacque and Pierre-Joseph Proudhon as a synonym of ANARCHISM. And my friends, ANARCHISM is by definition AGAINST capitalist free market.
Anarchism, by definition, is "without a ruler". A ruler is someone who forces his will onto other people. You are free to be against capitalist free market, I am free to be for capitalist free market, my employer is free to be for capitalist free market too. Now, if I am for capitalist free market, and my employer is for capitalist free market, we don't frickin' need to ask your permission to start our tiny little capitalist enterprise. Feel free to ignore it if you don't like it, but if you try to impose your likes and dislikes on us against our will, you are imposing yourself as a ruler over us. Expect resistance. Of course. And nobody frickin' needs to ask your permission to elect a ruler for them, don't they? The crucial point is not forcing each other. This does not change the fact that in the current capitalism system, money rules. And as you say, anarchists are against rulers. That's the very simple explanation. If you want the long one, I can recommend you some of the works that set the basis of anarchism, both in a political and economical sense. |
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So, was the wallet encrypted or unencrypted?
That was irrelevant. The RPC was open, and the authentication password was weak. I'm just trying to understand the RPC thing. When you do a transaction in Bitcoin-QT, you need the password to unencrypt your wallet. If you connect to RPC and authenticate you do not need to unencrypt the wallet to do transactions? |
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No need to panic, no need to be anxious, but tracking numbers provided at shipment will make everybody safer and will reduce the noise. There should be a way of getting that.
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I think Proudhon is so rich in BTC that he finds a perverse joy in making predictions against his own interest. And if then indeed goes down, hey... He was right |
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I'm wondering what the average amount of money is those standing in line at MtGox are going to invest in Bitcoin. $1000 perhaps?
Verification is not even necessary for such small sums except from Europe. I would say any European that bothers to try his luck with Gox has on average $25,000 or more to invest. Otherwise they would just get verified with Bitstamp, which happens in about 2 days.. 8,500 * $25,000 = $212 million and counting. Yes, it will take us to $200. I would say you are totally wrong, if you'd check the forums in Spanish, Italian, etc. you'd see plenty of single-figures-post-count newbies going through the MtGox verification to invest just a few hundreds of euro, and there are more of them every day - just because MtGox is still the market leader in terms of volume. And then check the average transactions happening in EUR at bitcoinity.org, they are quite low - is very very very unlikely that the average quantity to invest for european newcomers is $25K. |
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Come on guys, nothing new under the sun
Now it's Europe getting assraped by IMF & friends, as they assraped Latin America not so long ago.
And they will keep going until a few big time bankers + a few of their politician sockpuppets are hanged to a tree in front of their burning houses.
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So in order to get "employed" one need to give you money. Is that correct?
Yes. Its pretty simple logic. All costs are divided between all of the members and all profits are distributed evenly. No one is going to get a simple ride in without commitment. Ok. Thank You for clarification. This matter is quite clear now. You want someone to invest into operation run by you, who does not even know dictionary definition of "employment", and then this someone needs to work for you. Good Luck with your recruitment drive. Typical advise, in UK at least, is: "if anyone offers you employment and you need to pay for it, it is a scam." Common sense, right? You have pretty much nailed it. "Looking to employ 2-3 people"... But hey, they have to pay to be employed. Solid logic. |
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I did not gamble on this but come on guys, I don't understand how it is possible that some of you are considering this as "BFL is shipping"
What a joke
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Proudhon, I have to admit I admire you - because of your nick, because you put your money where your mouth is, and because these forums would be very boring without you.
Kudos
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Something else has to be at work here. how could they possibly change your delivery address without all of your information?
Has your computer been compromised, have you posted alot of personal information online, do you think they doxxed you and maybe tried this way?
Somethin sinister is afoot!
Well, I made a quick search and its very easy to find all Sam's information online, including address. EDIT: I hope customers will get tracking numbers for next batches. That would help monitoring the package from the very beginning, thus avoiding this awful situation. |
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I just talked with DHL. Somebody called them and changed the address of my shipment to: 1826 West Pearce Boulevard
Wentzvill MO 63385Because I caught this in time the package will be delivered to me. The reason I figured this out is that when I looked at the tracking web site the last two entries were: 11 Recipient moved BOSTON, MA - USA 07:52
10 Arrived at Delivery Facility in BOSTON - USA BOSTON, MA - USA 05:54
They changed the delivery address without knowing the original shipment address nor the tracking number, only knowing that your real name is "sgravina"?? |
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On-hold means not paid. Not paid means cancelled unless you have bought 50+ units and paid in RMB by wire transfer.
Avalon batch #3 is sold out and you won't be able to validate an unpaid order ("on hold"), this is 100% guaranteed.
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It's very different: with CoinHoarder you get a piece for Avalon for life, not for 60 days. In the post you point out the bid is for a batch 2 Avalon for life, not for 60 days. That's the crucial point. Then, OP says this is about risk sharing - false, this is about guaranteeing him profitHe would b/e immediately on the machine, getting 13.25 BTC profit for the first two months + a 100% paid machine after that. No risk at all for OP, and a timeframe in which is almost impossible to b/e for investors (60 days) |
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