Okay that one is new to me, but it's addressing a fairly specific problem. I was referring to http://www.law.cornell.edu/uscode/text/18/331, which is older and more general. I know of many pawn/coin/collector shops which actively buy silver quarters/dollars and copper pennies for the purpose of melting them for the metal. Yeah. The Treasury/Mint issued new regulations to prevent melting pennies and nickels when commodity prices spiked. The US Code you refer to deals with counterfeit mainly. common practice for jewelers. If you can find a reputable legit jeweler, and have foreign coin to sell - they'll usually pay a little more for it because it's not illegal to melt them.
Some foreign coins are not covered by the treasury/mint regulations. |
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All sales are final is in itself illegal. As long as they can't deliver the item on the day you want your refund they have to give you the refund. That is common business pratice and even law in some countries...
That is absolutely correct. In USA even though you can post "ALL SALES FINAL", it is illegal to enforce that policy in practice. Moreover, a retailer must always offer a refund when merchandise is defective, damaged or otherwise not as advertised. The words "sold as is" or "final sale" are meaningless insofar as consumer protection laws always offer some form of redress. ^^This. |
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For those who do not believe in magic:
Buying the miner is buying Bitcoin over time vs. buying the Bitcoin as a lump sum and holding it. Both are bets that the exchange rate will remain good or improve. Both are long bets on Bitcoin. It is possible to know with certainty which growth rates of difficulty will yield a positive return over a fixed time period and which ones will not.
Of course it is not possible to know at what rate the network will eventually grow at. However, you can build a graph of possible returns and look at what the network hash rate must do in order for an investment in mining equipment to generate a positive return. If the hash rate has to do very unlikely things (like shrink for 6 months) for your investment to generate a positive return, then you shouldn't buy the equipment. If you feel strongly about owning BTC, you should buy them from an exchange.
After the time has passed, you can know what the hash rate did. After the time has passed, you can with certainty know if buying Bitcoin over time was a better investment than buying it as a lump sum from an exchange. Beforehand you can know the probabilities of an investment paying off, like the odds at a blackjack table. Afterwards you know if a hand won or lost, but you can know beforehand if you should have bet on it or not.
Finally! I hope your words will be more clear than mine, because I give up  A lot of people do not understand the difference between the probability of a result and the result itself. They see the result of a long shot coming in and say "See? I should have bet on it!!!". You can argue until you are blue in the face they shouldn't do it again and if they do it 100 times they will lose their shirt and they will never understand. |
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Generic power supplies like that usually have counterfeit certifications.
Generic and counterfeit (marked with lite on, dell, toshiba, etc) power supplies are a big problem, so it's not surprising that German customs are on the look out.
In fact that's not a CE logo on that brick. It's one of the variants of the China Export logo. The China Export logos are intentionally made to look similar to the CE logo but the real CE logo has a shorter middle stroke in the E. Of course.  Supply chains are like a game of minesweeper now.  |
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...because OP was/is unable to predict the future.
I totally agree! This whole argument started when I wrote this:
Sorry to ruin the party, but the correct way of looking at it is that you bought 30GH for 100BTC (because a year and 5 days ago 1BTC=$6.5);
You could have bought with your 650$ 100BTC instead.
If you ever profit more than 100BTC (which I really hope you do) then it will be a good/great deal
Good luck!
It is yet to determine if this is/was a great deal. People here don't seem to realize that the only way of calculating the ROI is if you minded more BTC that you could have just bought at the moment of buying the miner. Why? because both options has the purpose of getting as much BTC as possible. One way could get you more than the other and one need to gamble. Do you agree on that? I actually figured out why so many people don't know how to calculate ROI for Bitcoin miners. They don't believe that one can with certainty determine what a device is expected to produce in BTC at a certain difficulty. They are aware of "calculators" but do not understand why they work, nor do they trust them. They get hung up on luck, and trying to predict the future. They think calculating a devices expected return is black magic. So they don't do the math, and positive results are good luck and negative results are bad luck. They believe these things to be beyond human control. For those who do not believe in magic: Buying the miner is buying Bitcoin over time vs. buying the Bitcoin as a lump sum and holding it. Both are bets that the exchange rate will remain good or improve. Both are long bets on Bitcoin. It is possible to know with certainty which growth rates of difficulty will yield a positive return over a fixed time period and which ones will not. Of course it is not possible to know at what rate the network will eventually grow at. However, you can build a graph of possible returns and look at what the network hash rate must do in order for an investment in mining equipment to generate a positive return. If the hash rate has to do very unlikely things (like shrink for 6 months) for your investment to generate a positive return, then you shouldn't buy the equipment. If you feel strongly about owning BTC, you should buy them from an exchange. After the time has passed, you can know what the hash rate did. After the time has passed, you can with certainty know if buying Bitcoin over time was a better investment than buying it as a lump sum from an exchange. Beforehand you can know the probabilities of an investment paying off, like the odds at a blackjack table. Afterwards you know if a hand won or lost, but you can know beforehand if you should have bet on it or not. |
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So ... I come back again and find ... The Avalon chip that hashes slower than the chip used in the old BFL FPGA, and uses at least 1.5 times the power of a BFL SC (per MH/s) and requires ~15 times the number of chips compared to a BFL SC (per MH/s) and a box somewhere between 5 and 10 times of a BFL SC Single ... rates: Avalon 275 MH/s Custom 110nm, 55nm 16.13mm2 2,836.52
BFL SC 4.0GH/s Custom 65nm, 32.5nm 56.25mm2 2,441.11
The Avalon above the BFL SC  Not only that, but the BFL SC is pure custom ASIC, whereas the Avalon seems more and more each day to be a quick a dirty hack implementation. Again these numbers are irrelevant to anyone but someone who wants to name a new number and pretend it's important. Too bad you can't read, otherwise you would understand the metric being used. Or can't you see the screen with your head up Josh's... |
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If you payed through PayPal, they'll (most probably) issue a refund. Got mine last week (refund, that is, not a miner)
I paid via paypal and they still refused to refund my money. They're an outright scam. Ask BFL one more time for a refund (to show you really tried), then complain to PayPal directly. |
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Do you have enough info to do KNCMiner yet?
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Hi, thanks for the reply. The Getwork wiki stuff did'nt seem to make sense, but then I can't find a central resource for the detailed mining algorithm.
Got any ideas?
Just look at the code. |
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I prefer to hold Kate Upton's butt cheeks.  |
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So read his statement like this "I predict difficulty will be over 100 million during the course of summer 2013"
or like this "I predict difficulty will be over 100 million not later than summer 2013".
To me that seems like summer counts. /shrug
So if I say "I'll be at work by 8am", I really mean "between 8am and 8:59:59am"? 8am is a specific point in time. 8:01am is different than 8am. If you said you will be back at work by mid-afternoon, does that mean precisely 3pm? Or does it mean a range of time around 3pm? I see what you're saying. So if I switch it up to " I'll have the project done by Friday ", what does that mean to you? To me (and my employers are least), it means that by Friday morning when I arrive everything is done so we can go over it ..not 11:59pm that Friday night. Anyway, I don't even know why we're arguing this haha ..difficulty isn't going to get past 100m by the end of September. Good example of using a day of the week to specify a range of time. Substituting in the two most relevant definitions of "by" we get: "I'll have the project done not later than Friday." "I'll have the project done during the course of Friday." What does "not later than Friday mean"? To me, later than Friday means sometime that is not Friday, which would be Saturday. Also you could say "I'll have the project done not later than 2-5pm". You are specifying a window of time during which the project will complete. It is just an interesting discussion to me because I have seen so many bets hinge on imprecise wording. It would be unlikely that difficulty will hit 100M by Sept 21st, but kind of cool that the OP called it back in Sept 2012.  |
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Ouch. Where are all those people who said "certification doesn't matter!"  |
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Hey, a 5870 could do 50BTC this way  (No idea about the upgrade offer) Let us put it this way then: A device hashing at 5GH can't do 0.2 BTC/day. A Jalapeno can. The fastest Jalapeno reported on these forums with the upgrade and firmware tweaked is 8.2GH/s. That would clock in at 0.19328956 per day. The stock Jala can't get close to that anymore now that BFL is binning their chips. In any case, the order the OP was talking about wouldn't get close. |
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You probably talking about one those upgraded units? I have some that do about 0.186.
That wouldn't be the expected return of 5GH/s though. That would be the expected return of about 7.9GH/s. The amazing part of this is that so many people are totally unaware of the most elementary calculation of Bitcoin mining. The expected return of a hash rate at a given difficulty. Not at 5GH indeed. You could still say that a (what we usually call Jalapeno) could do 0.2/day. It would take an upgraded unit and a bit of luck. A firmware tweak could raise the hash even more. None of my units (as they came) can hash above 7.95GH though... A Jalapeno could do 50 BTC in a day. In fact, it could do 50 BTC in an hour just by getting lucky and finding 2 blocks in a row. It is merely unlikely to do so. But that is the nature of probability. The OP was about the stock 5GH/s miner from BFL for $274. With a firmware upgrade ($100 if they still offering it?) and good chips, it could do more. With enhanced cooling and overclocking, probably even more. But if he buys a 5GH/s unit with no upgrade, it might only do 5GH/s reliably. |
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maybe posting some info about when did you order. did you promise bfl to post pictures etc ?
No I didn't promise anything,just proof that I finally got it Ordered 6/23/2012 #1825,shipped Friday 6/28/2013 7:30pm CST,recieved Monday 7/2/2013 1:00pm EST.Paid $129 for shipping,so 1 buissness day to ship.A bit high but it was only 1 workday,not including weekend of course. I just got lucky firefop,had I kept all 4 jallies,I would have been mining 3 weeks ago Best of luck bro  Thanks K9 I'm not the happiest camper with BFL,more later.After I come down from my ASIC high damn . 1 year later .. and i made a order 16.04.2013 . *facepalm* If you used Paypal you can get your order back, even if it is after 45 days. Ask BFL for a refund and if they refuse then complain to Paypal. |
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You probably talking about one those upgraded units? I have some that do about 0.186.
That wouldn't be the expected return of 5GH/s though. That would be the expected return of about 7.9GH/s. The amazing part of this is that so many people are totally unaware of the most elementary calculation of Bitcoin mining. The expected return of a hash rate at a given difficulty. |
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I give up. You win the forum and the internet.You obviously are all knowing, and i bow to your intellect.
I guess my pool is so generous that they give me extra BTCs for my lowly hashrate. So im sorry I am wrong. I will go whip myself in the back for a hour or so as penance.
Don't feel bad. Most people around here have no idea how Bitcoin works or how to calculate the expected return from a hashing device. You are not alone. I am sure after a few more months of looking like a complete noob, you will finally start to pick things up and won't make so many embarrassing posts. Just hang in there!  |
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The greedier ASICMINER gets, the less profit they make on each coin, that's because their energy costs rise as fast as they add gear. At some point they wont be able to pay a dividend as all their revenue will be going into running the bloated ASIC farm, for roughly the same number of coins each week. Then there is a good chance they will have to close up shop, leaving a lot of worthless shares, but also that means 1,000TH/s+ suddenly disappears from the BTC net hash rate, and confirmation times blow out until ridiculous, effecting everyone.
Of course it is so obvious, they are doomed. Wait why couldn't they just stop expanding? That would require simple mathematics, basic business sense, and a pulse. Most people around here are only batting .333 on that list. |
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