Where would you sell 1mil worth of BTC?

1000%

Oh, I see, scientists make their own schedules. LOL

It seems that the biggest contribution BFL is making to BTC is by teaching very gullible people a very valuable lesson.

They are the Jim Jones of BTC.

LOL Get a room, babe.

I wouldn't be surprised if they already did but the problem is that it would only serve to exacerbate the negative image BTC has as funding the immoral pursuits of the world. Not that I agree with that notion but must always take into account the mindset of the 'mainstream' as that is where BTC aims to be.

While I am inspired by your enthusiasm, I think that you are assuming people like the Winklevii twins actually believe in BTC. Even if they claimed to, i still wouldn't know it for a fact. Their economic profile points towards them merely attempting to hoard and turn a huge profit. Even if they did(and others), what does this mean?

Like you, I also believe that the rich nerds of the world, (i.e. silicon valley money and talent) are who is going to truly catapult BTC into the mainstream. People who want to make money, but are self made and worked their way up from the bottom which gives them the unique perspective of knowing what it's like to be outside of the financial inner-cirlce(rich). Not to mention the luck factor, but that is another discussion.
The Winklevii do not have this perspective. They were born rich. Their struggles are derived from a wholly different perspective. Their privilege has enabled them to enjoy the best of everything with out necessarily deserving it. Do you think they were accepted to Harvard on their own merit? If they were poor, they would have went to their local community college.

The main issue is that BTC is a new abstraction and we are still making sense of it.

Anyway, I only attempt to be slightly contrary to your post because a balanced perspective is the key to managing expectations. 

LOLOL

Mods need to lock this thread but leave it so newbs can learn what a scam looks like.

I agree with this notion but I can't recommend that someone purchase an ASIC unless they have that type of disposable income. And if someone does have anywhere from 5-20K to play with, it's not a problem but that also means that the rich can still control the flow of currency by simply purchasing these machines that most people can't afford. One of the flaws in the system, if you ask me. This is only exacerbated when the next level of mining tech is released for even more money.

And let's face it, 80% of the miners want to hoard and hopefully increase their riches. A small few are investing in the tech because they believe in BTC.

Agreed. IMO, the fact that Avalons have been shipped is a huge reason that people may still have faith in the other companies. But I'm not believing anything until I actually see legitimate proof. That stupid 1993 quality video of their offices that BSL released has only increased the possibility of them being a scam, I think.

Batch #1 of the Avalons shipped 300 units and the  majority of them have been delivered. And even with those couple of hundred who are currently using ASICS have shot the difficulty up,

If you already have the equipment, DO IT NOW. Don't wait. Do it immediately. You only have a couple of months before ASICS go mainstream. Still, the difficulty is pretty high, already, and you probably won't mine that many coins.

IMO, it's kind of pointless to attempt to get an ASIC now. The people who will be receiving them in a couple of months or who already have them ordered them last year. Think about that. These people were lucky enough(or connected enough) to be in the know last year and to have the capitol to invest. AND EVEN THOSE PEOPLE have a limited window of opportunity. You don't don't even have a window right now.
Once the ASICs arrive(and I don't mean BFL because, let's face it, we don't even know they actually exist) and a bunch of people are using them, they will become obsolete rather quickly. With in 4-6 months so even if you ordered an ASIC right now, it will arrive after those 6 months. Maybe not, but that would mean you would be able to take advantage of about 1 month of that 4-6 month window.

Your best bet is wait for tech that comes after ASIC and preorder a year before they arrive like the people who currently have ASICs(or are receiving them soon). Of course, they will be even more expensive than ASICs.

However, if you are a technophile, and just want to do it for fun, I would still say find another endeavor. lol


People need to realize that, if they want to mine and make money, they need to be ahead of the curve. You're better off just buying BTC. There is a legit reason why people keep saying that. Mainly for the reason I just stated.


GL

This thread is a magnificent trifecta.

1. It is high-level trolling at it's best.

2. It's provides insight into how intricate scams are.

3. A brilliant cautionary tale as to why cold wallets, paper wallets, or brain wallets are so important.

That's actually a good idea. It's nothing for people, or you, to send a few cents to one another to gain a grasp of things. I will do the same.

I actually have a horror story about bitcoin and my informing a friend of the tremendous opportunity and getting screwed over by said "friend". I'm just trying to decided with sub-forum to post it on as I am sure it won't be in newbie jail.

If you have read through the forum, you would know that; even with multiple dedicated GPU's running, your window to make practically nothing is highly limited. 2 months at best. The ASIC's will make GPU mining obsolete. You are trying to enter the Indie 500 with a used Kia.

Are you simply attempting to learn how digital currency transactions work via a hands-on method?

Greetings,

  I'm a total newbie to Bitcoins in general but I know the smell of opportunity so let's see if I can't learn everything I need to know and, perhaps, make some money.