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1  Other / Off-topic / Re: Bitcoin sticker project on Kickstarter on: November 02, 2017, 03:15:12 AM
Well, in the meantime we have some cool ones!
2  Other / Off-topic / Re: Bitcoin sticker project on Kickstarter on: October 30, 2017, 07:33:04 PM
Yeah, there is certainly always going to be competition. However, no one can sell you a sticker and ship it to you for pennies. Even if you could have your stickers produced for free, transaction fees, commissions, and postage will eat up the lions share of $1.00.

The truth be told, it is nearly impossible to sell a physical good online for less than $1.00 and expect to make any profit unless you sell tens of thousands, and even then you are only making a few cents per sale. Unless your customers decide to buy in bulk.
3  Other / Off-topic / Re: Bitcoin sticker project on Kickstarter on: October 30, 2017, 06:13:22 PM
Actually, the sticker ecommerce site was completed some time ago for the original series. (bingies.com)

As to the cost, it is not unusual for similar sized / quality stickers to retail for $4.99 on Amazon and other sites. Selling stickers comes with lots of hidden costs most don't recognize, which only become trivial when you sell them by the tens of thousands. Ours seem rather reasonably priced compared to current market trends. Sure, you can find random stickers for less, but you could pay quite a bit more as well.
4  Other / Off-topic / Bitcoin sticker project on Kickstarter on: October 30, 2017, 04:02:11 PM
Hello all!

We have just launched a kickstarter project for a series of stickers relating to bitcoin! Including such memes as "HODL" and "To the Moon", these stickers would be awesome for computers, car windows, or even skateboards! Come on over and check them out!

https://www.kickstarter.com/projects/752729543/bingies-collectible-binge-stickers-for-bitcoin-ent

Thanks!
5  Economy / Speculation / Re: More huge news on: May 12, 2015, 10:29:47 PM
Looking at the news that the NASDAQ will use the blockchain via colored coins is clearly positive on it's face. But look at the derivatives, a few of which have been touched upon.

1) With Wall street using colored coins of a greater than dust size it will not be long before some percentage of coins are tied up as markers for property. The number available for currency will be decreased, which is also positive for fiat values.

2) Wall street firms will each still handle most transactions in-house, meaning most transactions will not happen on the blockchain. The blockchain will likely only be touched when firms make large trades between each other, basically clearing house trades. Of course, a small investor could cause a transaction to hit the blockchain if they wished to take personal possession and storage of their shares.

3) HFT would all occur in-house as most of those trades are never executed anyway. Just like trades in gold futures, physical gold rarely ever moves, just entries of ownership in a ledger. In this case, the bitcoins are the bars of gold, the in-house ledger would track temporary ownership. This means that since it rarely touches the blockchain itself, the transactions can be instantaneous.

4) Although most transactions would not hit the blockchain, they certainly would from time to time, and if you add up hundreds of firms doing this the number of transactions would certainly increase, so too would the transaction fees. Even more incentive for miners.

5) I would be interested to see if dividends from companies could be paid in bitcoins to the address holders even if they are anonymous.


There are many other effects, both great and small. These are just a few. How it shakes out no one can predict accurately, but it will definitely become a game changer once live. Hold on to your hat!
6  Economy / Speculation / Re: Information shared by early adopters will bring a great deal of wealth on: May 12, 2015, 09:56:28 PM
I registered in May 2013. It seems like a hundred years ago, not just two years. So many things have come and gone. Like everyone else I mined with graphics cards back then because that was about all you could get. We were amazed when Bitcoin was mentioned in any news media, it was very very rare. I witnessed the rise of the ASICs, security after security rise and fall, media hype, ATMs, Silk Road, Mt Gox, silicon valley investments, Overstock, and now the NASDAQ will use the blockchain. All in just a short two years.

God only knows where it will be in two more years. We are all early adopters still.
7  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: January 03, 2015, 07:00:43 PM
New hash comes online every day via a variety of manufacturers and sales. Hence the track record of endless increases in the hashrate since ASICs were released. However, for a period of months a fairly large amount of hash was diverted to crapcoin.This led to two months of rather atypical stability in bitcoin hashrates. It was being pointed to crapcoin faster than new hash was coming on line and so the diff even dropped. Now that it is all being redirected back at btc we have over two months of growth showing up all at once. It makes it appear as if a bunch of new machines all just appeared out of nowhere, but like I said, it is just two months of growth showing up in just a few days. Of course it spikes the hashrate. You could easily end up with a 40% diff increase by the time the dust settles.
8  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: January 03, 2015, 03:45:28 PM
The hashrate is jumping because after losing their butts mining the latest crapcoin scam they are pointing their rigs back to bitcoin.
9  Bitcoin / Mining speculation / 39,457,671,307... The bitcoin Fairy on: December 17, 2014, 04:46:04 AM
Today the bitcoin fairy visited my mining rig. She sprinkled some magic sparkle dust on it and now it it will be useful for two weeks longer than it was supposed to be... again, for the third time in a row.

Edit: perhaps I should have referred to the ROI Fairy.
10  Economy / Economics / Xbox news from 2017 on: December 12, 2014, 05:46:28 PM
News from 2017:

Microsoft today announced the latest Xbox incarnation, the Xbox BTC edition. In addition to providing seamless content delivery and an all-encompassing gaming experience, the BTC edition will include Bitcoin wallet functionality to make in-game micropurchases available to their users. Additionally, several ASIC mining chips have been included in the system to allow your Xbox BTC edition to search for coins to fund those very micropurchases.

Several Bitcoin mining insiders look at the strategy as "closing the loop", wherein users of the Xbox mine small amounts of BTC through mining, and then can send the coins directly to Microsoft for in-game virtual goods, content, and music / video access. It is expected that with over 300 million pre-orders for the Xbox BTC edition, this userbase will constitute nearly 40% of the total Bitcoin network hash, ensuring  decentralization of the network for years to come. This constant stream of micropayments to Microsoft are expected to make Microsoft the second largest holder of BTC known, behind of the massive immovable Satoshi Nakamoto hoard.

In other news, the intellectual property from the Mastercard bankruptcy was purchased for 0.134 BTC by a wealthy anonymous investor, who is said to have a stash which totals well over 7 BTC from mining on his GPU in 2012.
11  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NEW: WAR OF LIFE GAME!] The Real Altcoin [SHA-256] on: December 09, 2014, 09:08:26 PM
Fun!

 Not only am I mining but I also have gotten my wallet synced!

It is a very small altcoin world. at the moment.
12  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NEW: WAR OF LIFE GAME!] The Real Altcoin [SHA-256] on: December 09, 2014, 02:38:48 AM
Actually got mining on atc.pitythepool.com.

But still can't sync my wallet.
13  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [NEW: WAR OF LIFE GAME!] The Real Altcoin [SHA-256] on: December 09, 2014, 01:19:30 AM
Tried to sync wallet. 34 weeks behind. Cannot find block source. Is it over?

Can't even get a proxy connection to mine anymore either.
14  Bitcoin / Mining speculation / Re: Can we still mine from home? on: December 03, 2014, 04:44:57 PM
You certainly can, especially in an environment where difficulty increases are being tamed. Here are some factors to consider:

1) juice/hash. You need to know your operating expenses. Figure out exactly what it costs to run the unit each month in electricity. Once you have that number (say $50.00 per month for a 1 TH Dragon) you have a good starting point.

2) expected returns. Look at the unit return in BTC with a 2%, a 5%, a 10%, a 20%, and a 30% average difficulty increase. Find the date for each where at current USD/BTC prices it will be unprofitable to run. Figure out your total profit at each diff if you turned it off that day minus the electricity. This tells you exactly how much you have to spend on the miner assuming each diff.

3) Price of the miner. Lets say you figure out that at 2% diff increases a 1 TH Dragon will net you $1165 by July 2015 after electricity costs. And lets say you buy a used one on ebay, delivered for $399. It does not take a genius to realize that you will over double your money.  Of course, with 30% diff increases you will probably never get the $399 back, you would need to buy the unit for more like $70. Buying new equipment at retail prices will usually get you burned. Look for good second-hand deals, they are out there, not just every single day.

4) Lastly, resale. Believe it or not, people will still buy unprofitable miners. You may well recoup $100 selling your unit when you are done with it. Not everyone can do math.

15  Bitcoin / Mining speculation / Re: Negative Difficulty (Difficulty DEcrease) on: December 03, 2014, 06:47:31 AM
You are a microcosm of why small miners will reap benefits. As you are forced out, those who do not need to sell BTC to continue mining will find their ROI increasing as the difficulty increases decline. I think you just much proved my point. I (or someone like me) will likely buy your gear at a discount and be quite happy.

It seems odd that so few understand the dynamics of exponential growth on even a basic level.

The difficulty level cannot continue to double every few months forever. You can start with the laws of thermodynamics, and realize that in just a 5 more years of doubling it would utilize the entire energy output of the sun for hashing with even quantum computing. It had to stop increasing at that rate, and it did.

Additionally, from a commercial standpoint, many endeavors were built with a specific BTC/$ value. If you built out a large mining operation based upon $500/btc you are bleeding and will probably shut down in the near future. However, if you bought a miner for your home and are running it, you are dancing in the street. You can watch the $/btc rate jump from $100 to $1000 and back to $100 and afford to keep hashing. You can hold pretty much forever, unlike an ongoing major mining concern. And when the difficulty steadfastly refuses to increase, the life of your gear just got extended, and so does your ROI.

My crystal ball predicts a movement towards decentralization of mining. Larger mines find it difficult of survive large $/btc swings for extended periods.



I disagree with most everything you said. Yes, growth of the network had to slow eventually. But home miners are still incredibly disadvantaged compared to large scale mining operations especially the ones who design and build their own miners and enjoy extremely low electricity rates.

Hobbyist home miners may be able to continue to mine at a loss if they have lots of excess income and/or super cheap electricity. But a more serious miner with a significant investment in a home mining operation can't continue to profit with average electricity costs. They'll soon face serious losses.

For example, I don't have much excess income at the moment and need to sell BTC every month to pay ridiculously high electricity bills. I'm lucky if I break even and my electricity costs are only .11/kWh. I certainly won't continue mining when I'm in the negative. And I'm definitely not the only person who is in this situation. I can afford to keep a couple of my most efficient machines running but the vast majority of my gear will get tossed in the bin when that day soon arrives.
16  Bitcoin / Mining speculation / Re: Negative Difficulty (Difficulty DEcrease) on: December 03, 2014, 06:08:29 AM
It seems odd that so few understand the dynamics of exponential growth on even a basic level.

The difficulty level cannot continue to double every few months forever. You can start with the laws of thermodynamics, and realize that in just a 5 more years of doubling it would utilize the entire energy output of the sun for hashing with even quantum computing. It had to stop increasing at that rate, and it did.

Additionally, from a commercial standpoint, many endeavors were built with a specific BTC/$ value. If you built out a large mining operation based upon $500/btc you are bleeding and will probably shut down in the near future. However, if you bought a miner for your home and are running it, you are dancing in the street. You can watch the $/btc rate jump from $100 to $1000 and back to $100 and afford to keep hashing. You can hold pretty much forever, unlike an ongoing major mining concern. And when the difficulty steadfastly refuses to increase, the life of your gear just got extended, and so does your ROI.

My crystal ball predicts a movement towards decentralization of mining. Larger mines find it difficult of survive large $/btc swings for extended periods.

PS: Try running a mining calculator on some current devices where the difficulty increases around 2% per cycle and see what happens. It's raining ROI like never before for devices you can have delivered in a few days on the secondary market. Expect prices on second-hand devices to go through the ceiling shortly. Even at current prices, a 1Th machine with 1KW usage will make around $85/month after electricity costs. Projections at 2% per cycle says 100% ROI in 3 months, and profits continue well into 2016.
17  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: November 29, 2014, 01:08:20 PM
Those require a power supply. A usb miner would definitely be more appealing for beginners/hobbyists.
Frankly, beginners/hobbyists are just wasting their time if they're messing around with miners at this point. Of course, a market may exist for such a novelty item nonetheless, but...

The fact that thousands of 333 Mhs USB miners still change hands on ebay each month should indicate that there is a large demand for usb miners.
18  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: November 25, 2014, 04:43:53 PM
My directs showed up just fine.
19  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: October 23, 2014, 10:24:45 PM
As anyone who has mined knows, calculators are absolutely terrible at predicting ROI.

Historically the best priced hardware has always been able to ROI regardless of how many people "proved" it couldn't using calculators.

That best kept secret in mining. The second best secret is just how well you do when you sell your old equipment on the secondary market when you are done with it.

Buy a unit for $500-$600, mine a coin out of it, and then sell it for $300. Happens every single day.
20  Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It on: October 23, 2014, 06:36:38 PM
Gen3 chips roll out, Rockminers released, tubes released, prismas released, 5PH cloudmining comes online...

yet still... no divs.

What exactly is FC waiting for to happen to pay divs? The resurrection of Satoshi?
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