Nope, but I got a FPGA Single in the mail. That was just to convince me they're a real company so I'll buy more ASICs, amiright? Those evil bastards at BFL are geniuses!

Well I don't need an "exchange" to exchange Bitcoins. I simply need someone else to value them as I do.

I disagree. Even if you could never purchase anything directly with Bitcoin, as long as you can exchange it for other currencies, it would have massive value solely as a store of value. The longer the protocol continues unharmed, this more this value will increase. This doesn't require any expectations other than being certain that my Bitcoins will be secure in the block chain and someone other than myself values them for the same reason.

LOL you two crack me up!

They used the picture of an FPGA single because they want people to believe they have a working product and for people to order the product, when they probably have NOTHING done at all yet.

I bet they won't even come up with a working product, and rather run with everyone's BTC and money and all trade ins.

Isn't that a smart idea for a scammer?  Get people to trust them by shipping out FPGAs that are working, pretend they have an ASIC coming and wait for the trade ins and just run?

We've already seen it.  They're deceptive and trying to trick people. 

They really probably don't even have the investment capital to fully design and develop an ASIC.  It's a joke.

So unless they really come out this is what my thoughts are.  Don't pre order unless you can find a WORKING product.  There's no guarantees they will follow through with it, and we have absolutely no proof they are working on the product, no pictures or anything.

People's expectations set 90+% of bitcoin's value.

You're soliciting bids? Sheesh don't be so coy, just tell us outright your price (for doing something unethical...)

-MarkM-

+1 and saves me a whole load of typing

Ethics as in supporting your local economy or something different?

"Value" can really only be expressed as an exchange rate between one good and another. How much is a loaf of bread worth? Or a car, or a bottle of beer?

To answer that, you need to express it as an exchange rate. 1 loaf of bread might be worth 2 socks. Another person might value the loaf at 3 socks. Whomever brings the best exchange offer to the seller will get the trade so long as the exchange rate is acceptable to the seller. This is called a price. The price of a loaf of bread is 3 socks, at the point of the trade.

Bitcoin is no different. The value of a Bitcoin can only be expressed as an exchange rate with other objects. Originally, 10,000 bitcoins were exchanged for 2 pizzas, and thus an exchange rate - a market price - was established. That price has since changed, but in all cases the value of a Bitcoin is expressed in terms of other goods (usually, the other good is dollars, since dollars are the most commonly used barter asset, aka money).

So to answer the OP's question, how to determine the real value of a Bitcoin? Just look at what the prevailing exchange rate is. That's the answer, and it's no more complicated than that.

Some have suggested that Bitcoin should not be traded for fiat monies like dollars, and that they should have a value "of their own." This is impossible. It is impossible because if Bitcoin has its own value - let's say 1btc equals 20 loaves of bread - then we need merely ask what 20 loaves of bread equals in dollars, and we then reestablish an exchange rate between bitcoins and dollars.

tl;dr - the real value of 1 bitcoin is whatever you can exchange it for, and this will always be the case. No asset can be separated from its exchange rate with other assets.

And what equation would you use to translate transactions and hashrate into dollars?

Unless the news is less exciting than the rumor, in which case you lose.

Quah? Where did that come from? What made you say something so... Useless
Besides the factor that nobody other than bfl has a 40gh/s ASIC

Marx möchte Gleichheit nicht nur von den Ausgangspositionen her, sondern auch im Ergebnis. "Jeder nach seinen Fähigkeiten, jedem nach seinen Bedürfnissen!" Also alles schön miteinander teilen, Kommunismus halt.

Kommunismus in der Theorie, praktisch gab es bis Heute keinen solchen Kommunismus, denn im Grunde waren alle kommunistischen Systeme nichts Anderes als Kapitalismus in politischen Reihen finanziert durch propagierten Kommunismus und damit verbundenen Enteignungsmechnismen.
Man braucht letztendlich ja nur mal in die politischen Führungsriegen der DDR, China oder Nordkorea schauen, dort lebt KEINER nach den Regeln des Kommunismus, sondern die leben einen typischen Kapitalismus mit all den netten Umverteilungsmechanismen.

Jene Enteignungsmechanismen aber finden wir genauso in Deutschland wieder, z.B. in Form von steigenden Abgaben und Steuern sowie sinkenden Reallöhnen. Hier wird die Umverteilung von unten nach oben eben nicht politisch, sondern finanzwirtschaftlich durchgesetzt. Das Ergebnis jedoch ist ähnlich, evt. kann man über den Grad der Ausbeutung beider Systeme streiten.

Marx erkannte, dass der Kommunismus in der Theorie eigentlich das bessere System wäre, er erkannte aber auch, dass die Menschen dazu nicht bereit sind bzw. der Mensch kein Kommunist ist und sowas im Mißbrauch endet, siehe Lenin.

Und an diesem Punkt sind wir Heute beim Bitcoin auch, im Grunde ein wunderbares transparentes deutlich gerechteres System, doch die meisten Menschen sehen nach wie vor darin nur eine alternative Möglichkeit um Profit zu machen und hoffen damit Macht ausüben zu können.
Statt die Vorteile des Bitcoin zu nutzen und sich evolutionsmäßig weiter zu entwickeln, haben Menschen nix besseres zu tun als Bitcoinbanken zu gründen, Schneeballsysteme zu installieren, Kreditkarten zu erschaffen, uvm.

Wie wäre es mit einer Welt ohne Geld?

Interesting. I was wondering if they were going to get their annual report in on time so we could see a real name form it. ;p

edit; are we certain that is the correct Vleisides?  His photo studio is at that address.

https://maps.google.com/maps?q=2507+JEFFERSON+KANSAS+CITY,+MO+64108&sll=39.081892,-94.592591&hl=en&gl=us&vps=1&ie=UTF8&view=map&cid=13141561324981720236&iwloc=A

Where is CSI when you need them to do an infinite zoom enhance on the reflection on the bottle?

"Ashley Shavers updated her cover photo.
Friday, September 7 at 8:40am"


Yep, looks like the two of them are probably on a beach somewhere outside the jurisdiction of the US...