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Why is this going so slowly?
I saw the most recent update but I don't understand what the delay was. They shipped 20 machines and then suddenly, nothing, for over a month.
I know some of the delay is due to their new SMT machine but they said they had gotten the machine long ago. And the last update says it is definitely up to date so they should be able to build all the rest of the batch 2 machines in 2 weeks or so, right?
When do you think they will finally finish up batch 2? A few weeks? A month? A couple months?
I bought a pre-order off someone when it looked like shipping was imminent and I am losing more and more money every day they don't ship.
It's ironic that it looks like I am going to receive my BFL jalapenos before Avalon now.
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ignoring ASICS i think if scientific research companies gave a small financial incentive such as a similar amount to the dollar value someone earns mining bitcoin on their 800mhash GPU. then people would definitely dedicate their computing power to help humanity.
for instance people can mine bitcoins for a $71 a month income on a single 800mhash GPU
so if they were offered $71 a month for non bitcoin tasks, ofcourse they would go for it
No, I would still mine bitcoins instead of perform the scientific computations because mining bitcoins just doesn't pay me directly, it also secures the blockchain and therefore protects my bitcoin investment and helps bitcoin succeed which is something I strongly believe in. |
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The recent increase in mining difficulty has absolutely nothing to do with the current price stagnation.
You'd think that miners would be forced to sell coins to offset their electricty cost, right? That's the opposite of what you are saying.
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I don't want other miners to succeed. Mining is a zero sum game. The more coins they mine, the less I can mine.
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One could aruge that fractional reserve banking is not possible with Bitcoin, but for an entirely different reason than the internet crazies would. Banks are required to keep a fraction of deposits in assets. But with Bitcoin, no such enforcements are in place. So if you think of banking as something regulated and enforced, the answer would be no.
You could start a Bitcoin bank and claim that you would guarantee a fractional reserve, but if there is no regulation there isn't really any legal standing to this claim. It would be a bank in name only. You could start a Bitcoin bank and spend every penny of your customers desposits while still pretending that all bank accounts are full (which would indeed be a scam).
Just because it is bitcoin, doesn't mean contracts are unenforceable. Fractional reserve banking is very possible, and even likely with bitcoin. It's easy for a bank to prove it owns coins since the transaction register is public knowledge! The bank only has to sign a document with the private key of it's wallet to prove they own that wallet and you can go and verify that they have the bitcoins they say they do in that wallet. It's even more transparent than current banking. |
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^ but what is bitcoin backed by  what is gold backed by? |
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um, mining diffiiculty is not exponential, it is linear.
It only looks exponential because we are in a technology transition right now.
It is reasonable to assume that once all the ASIC manufacturers are shipping, they will ship at a constant rate. Thus we won't see difficulty double regularly but rise at a high, but consistent rate.
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It's a race. It was always a race. If we can reach critical mass before the crackdown we win and they'll have to adapt.
It's not a race. The only thing governments can do is regulate the exchange of cyber currencies with fiat currencies. As long as people are exchanging BTC directly for goods and services without involving USD (or EUR or whatever) then there's nothing government can do about it. No, you still owe tax on your gains, and they can still come after you for it. |
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I wouldn't advise anyone attempting to reflow solder a board of that size at home, but at least they are not BGA chips (eg BFL) which are virtually impossible to DIY with any reliability.
PS, just saw "single layer with jumper wires". NO, just NO! You won't get proper power distribution and decoupling, so even if it works at all its going to be unreliable as f*uk. Stick with the experts folks, don't DIY!
+1 This board will NEVER work. |
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Probably not worth it. It's a huge risk. It's very likely you will lose money.
There is a decent chance you will make money, but definitely not very much.
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Have fun living in a bubble then.
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It would be really funny if the OP is correct.
For a second there we soared to $110 and I thought he might actually be!
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Those little Jalepenos are so cute you just plug them right in and BOOM BTCSure the company has been plagued with all sorts of bad decisions, bad calls, bad planning and bad timing but the fact remains they jumpstarted the new generation of Asics mining. It was New technology in a New profitable industry and Greed got the best of most. The Pre-orders were a bad idea, but maybe it was necessary? If people would have been patient they would have made more money and possibly the difficulty wouldn't have increased as much as it did. Perhaps the price would be much more than what it is now? I'm sure they'll pull through the madness and get orders caught up hopefully before all the Bitcoins are generated, but at least they're finally starting to ship them out.  Are you kidding me? They are the 3rd company to release an ASIC. How is that "jumpstarting the new generation of Asics mining". I sure hope this post is satire and I'm just not getting it. |
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It will come to the point where the most people won't be able to make a profit to mine , hence the interest will leave btc, price will drop and stay down, hype might take some interest in alt coins for awhile but won't last long. Greed will kill bitcoin where it will be something that's still there, but hard to profit. Diff will stay up and keep going up due to pre orders and people hoping that btc will skyrocket so pay for their minin g equipment but that's just wishful thinking
Bitcoins aren't about making profit from mining. Mining has always been a difficult, low-margin way to make money. Some people will be able to make and make money on it. It doesn't matter who it is, as long as someone does it. People aren't going to lose interest in bitcoin just because mining isn't the easy money that they expected. Just like after the gold rush, gold didn't lose its value because gold ming wasn't easy anymore. |
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Buy as many bitcoins as you can. Then use those bitcoins to buy ASICMiner shares. Reinvest the dividends in more shares.
DO NOT buy mining equipment. You are not likely to break even at this point. The market is about to become flooded with ASICs and very few people will make any money.
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I expect the value of litecoin to rise and a lot more activity in the altcoins as more and more of these are pumped out and GPU miners flock away from BTC
No the value will crash. All the GPU miners will move to litecoin and other alt coins when they can't mine bitcoins anymore. The litecoin difficulty will shoot up. GPU miners will be desperate to pay for the miners they built for mining bitcoins but they will find their are no buyers. Supply will be greater than demand and as everyone will be mining but no one will be buying. Price will crash. Altcoins will die. |
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I'd really like that you were right, but I will bet against you because I don't think so.
Offer up some coin, how much do you bet?
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you guys realize that everytime Bitcoin crashes the chances it will succeed go down signficantly.
You may want "cheap coins" but if bitcoin goes below 100 it may never go above 100 again?
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I really don't know why bitcoin has been slumping recently.
Hopefully the past week will at least convince people that difficulty does NOT drive price. If anything price drives difficulty.
I hope we don't go under 100, but I wouldn't be too surprised if we do.
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