It will happen much sooner than that. 95% of GPU hashing will be gone by the end of the summer. The only ones left who will be mining are those who get free electricity.

I'd cancel your order. They aren't clear it's a "pre-order" presently.

And since there is 60,000 people ahead of you, I'd guessing you will get yours sometime earl 2014 at which point you'll never make your investment back.

No yubikey?

I think this auction might be a scam.

This is the second time it was listed.

The seller insists on a btc deposit up front  to cover ebay fees and a little guarantee ... from chargebacks".

That is a big sign of a scam.

Also originally the auction showed an order form for a batch 2 Avalon as an image.

I was the one that recommended showing a newspaper in the image. Seems like he took my advice.

I would be very wary of an auction that demanded a deposit up front in something non-refundable like a bank transfer or bitcoins.

They shipped early, actually

How many chips are on a wafer?


How many orders do you think they can ship with the 68 wafers that are coming?

ok it finally showed up. dunno why it took over 24 hours though.

There doesn't have to be any risk. Have double the amount of bitcoins you wish to sell. Transfer one set first. Buy and sell at the same time. Then transfer the second set over. Repeat.

Actually a couple of ways to do and pick whatever is the best for that day. okpay -> btc-e is one way though.

The trick is getting the money out.

Well not quite that much money. But if you have a lot of bitcoins just sitting around like many of us who bought pre-2013 have, why not use them to make money?

If you spent just $5,000 on bitcoins last fall, you probably have about 500 bitcoins right now. That's 60k right there to play around with.

I'm been doing arbitrage and making about $200-$250 a day after all fees when there is a 5% difference between exchanges (which is common these days).

I won't give away my secrets though. See if you can figure out how.

I have the same problem.

The payment was executed over a day ago and there have been several blocks found by 50btc since then and still the transaction can't be found by blockchain.info or any other block explorer I've tried.

Here is my transaction:

7fd473d4dd59435b3c75bbda3b800a0465ad419fe46b9a18c5469966ac1647a0


I tried going to their support but it's said support is unavailable for a day now.

Might be time to switch pools.

I haven't looked at the datasheet myself yet, but maybe they figure that won't be a problem since the chances of that happening are extremely slim.

No, I wouldn't be scared of it. But it would suddenly become a much more risky investment than it is now, and I'd likely sell my bitcoins as quickly and discreetly as possible and I imagine that any legitimate investor would do the same. Not because I would worry about being caught but because such a move would be devastating move to bitcoin. Not to say it wouldn't succeed eventually, but it would make it take much longer.

Stop being an idealist, this is money we are talking about. Have all the principles you want, but you have to be practical when it comes to your investments.

btw, MAbtc has the best post on this thread. Everyone should read it. He hit the nail on the head and there is no point in me reiterating his points.

no way. total scam.

i am hella jelly.

There is a huge difference. Marijuana has some inherent value. The US making it illegal doesn't diminish the high you get. People want to smoke marijuana whether it is legal or not. Bitcoins inherent value is related to its usefulness as a currency and store of value. Lack of regulation is part of this usefulness

Bitcoin is not like marijuana. If the US made it illegal to own bitcoin (note that I don't think that will ever happen), it would severely affect it's usefulness as a store of value. Many people would not use it simply because it is not worth the legal risk. Less people using bitcoin means less usefulness and a lower value. A currency is only as valuable as the people who use it believe it is. If it is only used by extremist and libertarians it will never be worth that much. Bitcoin needs to achieve widespread acceptance before its value can really soar. Regulation only hinders that.

Yes, I know all about great benefits and I agree with you on that point. But I think it is balanced out right now by a lot of things: the difficulty in obtaining it, the fact that many people don't understand it, worries about security from hackers, the fear of future regulation by the world's major governments, etc. All these things are slowing bitcoin's adoption.

Does anyone know if any more jalapenos went out last week?

I remember on the 13th Josh said that new chips were arriving and they'd use them to ship out some jalapenos that week (and for work on the singles).

I'm still confused as to why they haven't ramped up production on the singles since they started shipping them, what was it, almost a month ago?

The pessimist in me is worried that maybe there was something wrong with those early Jalapenos and they needed a redesign.

I'm not expecting 400/day right now, but I would think they would be aiming for a least 100/week right now, no? What is their plan to get through 60,000 orders?

Sorry OP, you are completely wrong and your analogies don't fit at all.

The dollar has value even if no one from Argentina ever bought one.

Bitcoin does not have value if no one can use it.

Too much regulation will hurt bitcoin and can very easily kill it. Yes, die-hard believers will hold on to their bitcoins but your average investor will panic and sell if it looked like serious regulations were coming. I know I would.

Too much regulation and bitcoin ceases to be a useful currency and that is the ONLY thing that bitcoin has going for it. That is why people want it. Anything that makes it harder for it to function as a currency will negatively affect it's value.

It's not as hard as you think to make an ASIC miner with Avalon chips. And a lot of people are working on it.

Once Avalon batch 3 ships and BFL begins to ship in quantities, and ASICMiner deploys the 200TH/s worth of mining equipment they have, you'll see ASIC prices come way down because it won't be profitable anymore. GPU mining will be long dead by then. As dead as CPU mining has been for a while now.