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A store near here had bags of 25x20 of it a couple of weeks ago for $225 or $8.99 a box. Academy has had it in for $5.99/20 but I'm holding enough right now and waiting to see it in Wally world for $3.99
I am thinking of selling some Winchester 555 22lr for a dollar. Of course, that would be Liberty or Morgan.
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thats bullshit ... and unreasonable...
Supply and demand! They're the only shipping ASIC, and they're selling like hotcakes. They can do whatever they want with the price, and people will still buy them. Supply and demand is fine. Claiming the price is based on ROI is just bullshit though. When was the last time you bought a car and the seller asked if you would be using it as a taxi? |
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That's OK, the fedgov will buy them for them.  |
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The machine is capable of earning back it's investment in two to three weeks (depending on rising difficulty), where is the problem?
I paid BTC 106 for each Avalon, that was back September 2012 when nobody was even sure the technology would be delivered.
If I would have kept those BTC and sold them now for USD I would have made a much bigger and easier profit, with less risk.
If in a year you look back at this period, you'll consider BTC 88 a good deal.
But then again, only time can tell.
I don't disagree with their right to sell these at any price they want. I think it's fantastic that they've actually delivered and especially the ethos behind the whole venture. With that said, it's a bit of a gamble. The price is reasonable if no other ASICS come on line (though it's currently looking like that may be the case for the near to mid future) and presuming that BTC continues to keep a good price (again, looking like a reasonable assumption). So it's pick your own risk/reward scenario and I don't fault anyone for going either way on that. Only time will tell. Then again, the price rise does give me pause for thought. The guy waffles on about trust but something doesn't quite sit right with me about that. Then there's the whole vacation thing with batch #2 and could be a while before batch #3 is shipped. Maybe not red flags but certainly towards the lower-frequency end of the spectrum. In the end though, they have actually shipped product which puts them ahead of all the competition so far. I think probably it's a solid deal. Good luck to everyone whichever way they choose. |
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However, the presumption that you'll get to keep/be able to use your rounds is weird in that context. If the government couldn't keep itself together you're going to manage to keep yourself glued to your coins? By what process, using what method? If such a method exists why didn't the state use it to preserve itself? You think angry dudes with guns care you bought that silver fair and square 5 years pre-Apocalypse? The peeps SOL'd during Katrina didn't do much silver coin trading. The UAF 571 didn't establish a silver price per pound of human flesh. If most of humanity is wiped we'll spend our time digging through warehouses for salvageable items, not pushing back and forth engraved metal. On it goes.)
Though this is one of the things that confuses me about so many preppers... They focus on one potential issue and prepare for that above all others. Maybe it's EMP, maybe it's financial collapse, maybe it's bio/chemical. Some preparations are good for multiple scenarios but often there are some big holes. Personally, I suspect that whatever and whenever it happens, it could be "any of the above" or possibly something no one was expecting. To me it makes sense to work out some core essentials first, have a variety of things that would work for multiple specific scenarios, *then*, if you have time/space/money left over, focus on whatever your hobby horse is (meteor strike, magnetic field reversal, whatever). Durable goods first for sure but having a portable token for exchange is up there too. For me, silver > gold in this scenario, especially with the current price of gold. Gold, however, is probably a reasonable hedge against financial instability. And god know, that's coming. I think bitcoin > gold for that though. With all that said, if the zombie apocalypse does happen, enough people will be dead that silver and gold will be easy to come by. Should civilization scrape through, your best bet is likely to be less durable luxury goods that will be hard to come by (decent quality alcohol for example). |
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All I'm going to say is 'too big to fail' is failed capitalism in practice.
You misspelled corporatism. You misspelled fascism. I'd accept either  |
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M1 is the the term you are looking for total quantity of currency in circulation (notes and coins) plus demand deposits denominated in the national currency held by nonbank financial institutions, state and local governments, nonfinancial public enterprises, and the private sector of the economy, measured at a specific point in time. National currency units have been converted to US dollars at the closing exchange rate for the date of the information. Because of exchange rate movements, changes in money stocks measured in national currency units may vary significantly from those shown in US dollars, and caution is urged when making comparisons over time in US dollars. Narrow money consists of more liquid assets than broad money and the assets generally function as a "medium of exchange
I don't completely disagree (or agree) but will say that bitcoin doesn't really fit precisely into any of these big-M definitions all that well because they were made up with fiat in mind ... for example we can say that there are exactly 10.XX million bitcoin units in existence. Though looking at it philosophically, lost bitcoins are not really in existence any more than bitcoins not-yet-mined are. |
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"Total" implies adding all the values which is clearly not what's being done.
That is exactly what is being done. If a bitcoin trades at $65 then the total dollar valuation (TDV) is the sum total of each bitcoin that exists at the trade value of $65. Or am I misinterpreting your comment? It isn't because not all bitcoins market at the same value. Bitcoins that have been destroyed, for example, have no value because they are not of any use. The term "market capitalization" is therefore better than "total dollar valuation", because market cap includes those assets which have low or reduced value (e.g., the market cap of a company includes unreleased and dead shares). Exactly. Try buying all bitcoins at $73 or selling all at $73. It just doesn't work that way. So multiplying the current price times the number of coins (and which number do you use for that) is nothing more than producing a number which might vaguely track with the market. And what do you do with that number anyway? Bear in mind that it doesn't take account of velocity either. Don't get me wrong, it's cool to hear that the number is going up but it's not a good number to attach any real significance to. |
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Ooh, I found one.  |
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Hey, Just wanted to share photos of my setup of Avalons.  I hope you will like it.  I do not know for sure but aren't they designed to be horizontal? Maybe do some searching but I thought the Dr. told people that. As far as I understand, as long temperature is in right range, it doesn't matter how you place the unit. In fact this is standard ATX case with PSU at the top, so I think vertical layout is fine. I have no idea but you might want to check up on what minor miner said. I mine (trivially) with a passively cooled video card and it has bent and sagged from the heat and weight in my tower case. Conceivably it could be a mechanical requirement. (Again, I have no idea but for what those cost/generate, I'd be sure to check if it were me). |
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Due to an apparent anomaly in the space-time continuum, my motorcycle arrived this morning. The problem is that it's red instead of blue. How do I go about rectifying this? Do I have to wait for the warranty to become valid?
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Congrats. Here is a picture of my BFL ASIC setup in return   |
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I have to say, the extremely high price for batch #3 is a bit sketchy. Maybe it's legit but I think mining is simply becoming a less attractive pursuit. I won't be buying one.
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No.
1)It will not change the overall rate of production of bitcoins
2)The price of bitcoins is not directly related to mining in any case.
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I don't like that term either (though it may be a legit market term for all I know). "Total" implies adding all the values which is clearly not what's being done.
Maybe "Market Value Product" or "Calculated Exchanged Value" or perhaps even "Big Meaningless Number"
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my family is not interested in btc I did explain them btc buyed casascius coins and silver btc coins they did not want to buy in last years no interested on mining rigs even when difficulty was like 200k
I just wish someone had told me about it sooner. I guess I'd heard of it around but never looked into it. Then when I did, I picked up a GPU to do a little side mining and would have gone more all-in on that if ASIC wasn't "just around the corner" (F-you, BFL). Luckily I managed to dump a little fiat into it. |
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All I'm going to say is 'too big to fail' is failed capitalism in practice.
You misspelled corporatism. |
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I'm never selling. I'll just wait until the price stabilizes then use it in normal trade. In fact, I just spent a few BTC yesterday but I'm trying to replace them now...
Yea, the advice I am starting to offer is first acquire the btc THEN spend it as opposed to spending it and catching up. Well, it was an opportunity I wasn't expecting and it was only 3 1/3 bitcoins. Unfortunately, I didn't realize how hard it was to just buy bitcoins at short notice, the ones I bought previously were just by arrangements with individuals. It's all good though  I'm now switching to buying small amounts of bitcoin in a regular basis. There's all the usual regrets about not getting in earlier of course but it is what it is. |
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I'm never selling. I'll just wait until the price stabilizes then use it in normal trade. In fact, I just spent a few BTC yesterday but I'm trying to replace them now...
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