...which means that IMF's member countries (ie the world over, the exception being North Korea) would have to buy ... you guessed it ... bitcoins!!! $1mil per bicoin anyone?  Yeah! I actually expect they'll choose to do this at some point. That will make today's price look cheap. Again, the incentives regarding bitcoin urge early adopters to move fast and hard. The first central bank to buy a substantial reserve of bitcoin is likely to see that reserve double and triple in value by the time the news hits. And I would expect China to be the first one to do it, just as a wild guess. |
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There is an easy way for them to deal with bitcoin, all they have to do is buy them all and erase the wallets. Actually we could run the entire world economy on one bitcoin. I don't think they'd be able to buy them all by any means. The attempt would only make the price shoot through the roof and speed adoption of bitcoin. But alt currencies are like potato chips, we'll make more.
Indeed. They're likely to try their best to saddle bitcoin with fetters rather than trying to destroy it because bitcoin the idea is a hydra with a thousand heads, and lopping off the first will avail them nothing except to rile up users who will fight back at the injustice of it with renewed energy. They don't want to make a martyr of bitcoin, they want to make a compromiser out of it, to adopt it into the fold and corrupt it with pernicious choices. They don't understand it, and they won't outright destroy that which they don't understand for fear of provoking the sleeping beast to anger by a misdirected attack. Ultimately what I expect is for their own activities to lead them into crisis on their own terms and bitcoin to simply take over from the resulting chaos. When the crowd moves they have no choice. It will be a grand day when that happens. |
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If I recall correctly, they said they would accept either bitcoin or Paypal etc., true?
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They showed the prototype of Mars only four days ago and said they are working on optimisation so that poss. +~30% and video evidence.
Wait, they did show the Mars prototype? How did I miss that? What page here was that on? |
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Correct, I will reformulate that: if batch #3 arrives with difficulty higher than lets say 35m, they won't even break-even IMO.
Even at 35 million they'd break even in 46 days (4-unit with extremely conservative power costs as well). |
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The big worry is who the unknown players are. Yifu himself said at the recent Bitcoin '13, there could be wealthy vc's developing their own asics for their own use and if they started in Feb, you wouldn't know for a few months before coming online. So their potential impact is a huge question mark until asics are truly distributed in the wild that could negate their centralisation. In essence a 51% is feasible until enough competition exists.
Yifu himself is selling 10's of thousands, but to whom outside this forum, no one knows!!?
There is a forum thread where someone found out the address where avalon sends all the payments for 10k chips to... its quite a bunch of TH till now... Well, fortunately the Avalon chips are not particularly efficient or hi-tech, and KNC represents the first of the 2nd gen tech. So when enough 2nd gen stuff comes online it won't be profitable for the 1st gen anymore. Plus it's gonna take a lot longer than people think for those chips to turn into working miners, not to mention just to show up. I'd be surprised if we saw much impact from them before the first of the year. In any case, we should all be very glad that we're at all into mining when bitcoin are still able to be mined cheaply and plentifully, before mainstream uptake of bitcoin has happened. Trying to mine four years from now would perhaps be a much riskier endeavor, and we won't be talking about ROI in terms of months. It'll be the more standard years by then, and barrier to entry won't be in the mere thousands but more like tens of thousands like starting any mainstream business. The days are young yet, and it's a good time to mine. We are neo-49er's, COIN RUSH! Imagine the poor guy who comes of age 20 years from now, who will look back jealously on this historical epoch and the people able to mine now. When 25 bitcoin will be a fortune. We're like the first employees at microsoft who didn't realize they were soon to all be multi-millionaires. That's how I feel. Bill Gate's secretary was eventually worth $40 million iirc  |
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Do we in fact know conclusively that BFL is mining with their hardware?
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Last 15 slots = 1HD5drkLSsy6iCL2RjEqwMYpLYa2HRX6Du
Still only 4 btc--which you undoubtedly sent to yourself. No one's biting, what a shame for you! |
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Edit: two people already send them money.  More than likely, he send himself 4 btc from another address to 'get the ball rolling / bandwagon effect.' Was not effective. |
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I'm an investor in this project, not just 2btc. Somewhere in this sea of asic scams there must be someone with integrity, wouldn't you think? You have to spend money to make money and sometimes you take loses. BFL for example is a huge loss for many miners. Espessially considering the quickly advancing technology.
For as many people there are to say scam there will be a greater amount smart enough to have faith and confidence in people trying to build a better project. On a side note- as suspicious as the numbers may seem, you can't expect all the technical details of this device to be publicized. For what I see as obvious reasons. When my card arrives Friday I'll be posting /photos/screenshots as well.
No one here is able to say that they should be able to fund this project on their own no matter the cost. Circumstances are different for as all. If anything I would say people should be happy their being offered an early chance at groundbreaking technology. When someone is yelling at someone because they are sharing an opportunity rather than keeping for themselves, it shows weakness, envy, jealousy. Be strong people. We should be united as miners and as those that participate in a revolutionary concept. Lets embrace that and support one another.
Sock puppet #2 makes its appearance! This isn't even a very good scam setup. 10,000 Avalon chips haven't even been made yet and your card comes friday? Right. I think not. Cue: "just the card is coming, not the chips". |
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I have sent my 2BTC
Im taking the chance.
I believe Jon is authentic.
Sockpuppet much, lol. |
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The numbers doesn't quiet add up to me, I'm tired so excuse me if it's off and using rough math.
1 Avalon Chip does about 280 MH/s and uses about 1.9W.
To have a board do between 1.2TH/s and 1.9TH/s, you'd need between 4000 and 4500 Chips.
With that many chips required per board;
You not bought enough to do about 2 boards (you stated buying 10,000 Chips).
Which apparently each one would need in the region of 8000 Watts
This is you ignore the fact your suggesting you can fit that many chips on a board (or even a multi-layer boards), designed for a PCI-E slot.
So simply put, your numbers don't make sense.
Yeah, the 1 Th/sec was the most obvious red-flag here. Silly. |
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Last night, randy-waterhouse and I were experimenting with Bitmessage. (*smooch*!!) Bitmessage is a p2p messaging (and broadcast / subscription) protocol, based on the Bitcoin protocol. It uses its own blockchain, but the chain only stores the last 2 or 3 days worth of messages. (It's assumed they were delivered within that time, where they are then safely stored on the recipient's inbox.) Combining the above Bitmessage capabilities--which we already proved out experimentally--with Open-Transactions, makes possible fully-decentralized p2p markets, as well as p2p escrow across OT federated servers, easy p2p and server-to-server wiring of funds and conversion of currencies, both within OT and also between OT and the conventional banking system. Furthermore, this is possible with little-to-no changes inside OT itself, and will not require the issuing of credit, nor will it require any pre-mined currency. How does it work? ----------------------------------------------------------- A few concepts... --- First, keep in mind the concept that Bitcoins and Colored Coins (either/both) could be issued onto an OT server, without having to trust the server itself, through the use the multi-sig "voting pools" on the blockchain itself. I've already extensively discussed this on this board, and here's an article on how it's done: http://bitcoin.stackexchange.com/a/834/309--- Second, keep in mind that using Colored Coins instead of Bitcoins is advantageous in certain circumstances, as it allows users to buy/sell those colored coins (for the purposes of transmitting other currencies) without incurring any capital gains tax liability. (I'm not a lawyer and that's not legal advice. The basic gist is, if you buy a colored coin for $100, and sell it for $100, there is obviously no gain or loss.)----------------------------------------------------------- T H E H O L Y G R A I LEnter Bitmessage! (Which solves discovery across federated OT servers.) As I said, randy-waterhouse and I already TESTED Bitmessage last night to prove experimentally that this is possible (and it worked.)----------------------------------------------------------- Using Bitmessage with OT to effect server-to-server wiring of funds: http://pastebin.com/NjQgDarx--- The wiring protocol is all about Alice trying to discover Bob so she can move her money from one server to another (and Bob trying to discover Alice so he can make a profit by moving money from one server to another.)----------------------------------------------------------- Using Bitmessage with OT to effect escrow-based conversion of currencies across OT federated servers: http://pastebin.com/S1W5guAQ--- The currency conversion protocol is about Alice and Bob being able to choose a server they can agree to meet on so they can trade one currency for another inside OT. (For cases where they aren't already trading on the same OT server.)----------------------------------------------------------- Using Bitmessage with OT and SEPA so that Alice can p2p send any currency which Bob receives as Euros in his Euro account: http://pastebin.com/SsLrxVP6--- The SEPA transfer protocol is about Alice being able to send Silver Grams, which Bob receives as Euros in his Euro bank account. It's also about Jorg earning a profit in silver grams, by sending a SEPA transfer to Bob on Alice's behalf.----------------------------------------------------------- We already knew that OT offered quite a few benefits to Bitcoin: http://bitcoin.stackexchange.com/a/2710/309But now, combined with Bitmessage, Open-Transactions becomes a juggernaut!The above protocols can be implemented inside OT wallet GUIs, such that they are automated and transparent to users.May a million currencies bloom! Very interesting! Great work you're doing. I've got to read up on all this; I think this work might benefit something I've been working on myself |
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Let's take these one at a time... > http://chiefacoins.com/Database/Micro-Nations/Freedonia.htm"Governmentally, they've gone through a few permutations. By a 1992 resolution, they were “a sort of oligarchy.” That system was changed to a presidential republic in 1996, and to a constitutional monarchy in 1997. The constitution was revised in 2000. As of April 1998, their name was modified to reflect their metamorphosis from a “Republic” to a “Principality”... The Head of State is Prince John I (John Alexander Kyle), the prime minister is Dustin Gawrylow." They clearly had no idea what they were doing. That history shows an endorsement of existing and historical governmental structures, not poly-centric law at all. > http://en.wikipedia.org/wiki/Republic_of_Minerva"Morris C. Davis was elected as Provisional President of the Republic of Minerva." The sort of society I envision dispenses with politicians entirely. So any time you see a politician, it's not what I was suggesting. Politicians have the power to force policy of citizen-subjects. However, individualist-law means that each person would control their own legal circumstances--constitution a rejection of the idea that anyone can force laws on anyone else. > http://en.wikipedia.org/wiki/Operation_Atlantis"The operation set out to do this by launching a ferro-cement boat into the Hudson River in December 1971 which was piloted into an area near the Bahamas. After reaching its destination it eventually sank in a hurricane... "Stiefel endowed it with a limited government that does not violate the non-aggression principle, thereby making Atlantis acceptable to both limited-government libertarians and anarcho-libertarians." Basically they never got as far as actually implementing a society. > http://en.wikipedia.org/wiki/Freetown_Christiania"but since the rules require a consensus they cannot be removed unless everybody agrees." Consensus, ie: voting, ie: giving the group power to force laws on individuals. That's not what I'm proposing either. That is a mere extension of the existing political norm of democracy. It is a continuation, rather than a rejection, of the idea that others should control an individual's legal circumstances. |
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http://imgur.com/dh8gvEbI saw a message. "We've delivered your order" Then.. reality sunk in. I felt like I got slow rolled. Haha, Skype-trolled |
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Tell that to the crews of the hundreds of ships that were hijacked by Somalian pirates.
These same ships are prevented from carrying the kinds of defensive arms that would make a couple Somalis with a skiff and some AK's turn tail and run. Let civilian ships install some anti-boat armaments, like the privateers of old, and you'd largely end your piracy problem. |
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"The region’s laws are specifically being designed to have low regulatory barriers and provide residents with the world’s highest degree of freedoms."
Instead of trying to impose "the right laws" from the top down why not be the first society to try poly-centric market based law.
I endorse this approach, and have been studying and building a system I hope to implement on a seastead in the near future. Can't wait. It's such an improvement. Individualism applied to law, agreement-based law and individual sovereignty. It's never been tried and few have even theorized about it in more than general terms. |
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Wait. Do they do clothing on your oil platform, OP? Like seaweed bandanas and whaleskin jackets?
Haha, gold!  I'm thinking a dolphin-head hoody, that would rock ^_~ |
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it will be filled with office staff from multiple countries all working on american/silicon valley projects for dollar without being on mainland due to visa restrictions, not a true free society/country of bitcoin.
One step at a time. They're doing it right--with a profitable business-plan in place. Seasteading needs to be self-sufficient economically to survive. This first one is historic, and it's important that it succeed so we can garner mainstream interest in future version and extensions of the idea rather than wait another half-generation before attempting another one. |
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Yeah, waiting to claim the 0.33 BTC unconfirmed in that address Along with probably hundreds of other people. So why do it? Reddit theorizes that by adding that address to your Bitcoin-QT wallet, it could one day be used as a change address for another of your transactions, resulting in the loss of any funds changed to it. Beware accordingly. |
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