I would suggest we are not yet even at the "I" in innovators. Probably less than a millionth of the needed infrastructure and institutions required have been built. When you compare what the bitcoin protocol is capable of with what we have, you quickly realize we have barely scratched the surface.
Future generations will envy us and look back with amazement. They may even read the words we type here on the forum as class assignments.
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I think FC strategy is not to engage over 28mm fight but stay on the lower tech like 40mm since it costs way less, and dump tons of it in the immersion tank, then keep up with higher density tech after launch. Low div this week could only mean the money from cube has yet arrived. Not sure who's taking loss over btc quadruple in the past few days, since many ppl bought cube with fiat.
BTC is the same fiat value as a week ago. Boom and bust were just a blip and statistically insignificant for cube purchases.
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The logical solution to taxes is simple: You determine taxes when (and if) you convert to fiat. At least that's the way I see it. When it becomes income in a fiat system, then Caesar gets his due.
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A smart investor knows when to abstract out the concept of price when making an investment. Rather than confusing the issue and allowing irrational concerns about how many shares of something one might be obtaining to interfere, it is useful to just consider that you are investing "X" value.
In other words, ignore the price. Say to yourself "I am investing $100.00 in the bitcoin concept", not buying "X" coins. Because the "X" is not relevant.
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No liquidity at all. Anywhere. Every transaction makes huge moves. The current exchanges cannot even remotely handle this.
April redux. I thought we were built out enough to prevent this from happening again.
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Satoshi was sent from an alien race so that we could transform our monetary system to be compatible with theirs before first contact.
Each planet only gets 21 million. Use them wisely.
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Interesting that the US exchanges are so far behind, but it definitely shows that China is still the backbone of this rally!
It's just that it takes a ton of time to get cash into any other exchange. Nearly every cent of fiat in the other exchanges has already been spent. Everywhere around the world ACH and wire transfers are piling up in the slow queue as the prices keep rising. Gotta hate that dinosaur system we are still stuck with. Chinese can deposit today and buy today. Western regulation is making the Chinese rich at our expense.
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New York is already on the road to becoming North Korea. If they want to hasten the transition, I say let them.
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One thing to keep in mind:
Say FC does come out with guns blazing and reclaims the 10% hash. Total weekly blocks (on average) for 10% of the network is right around 100 blocks,(6 per hour * 24 hours * 7 days)
100 blocks times 25 btc = 2500 btc /week.
Those redistributed to 400,000 shareholders = 0.00625 per share
At $530 per btc that is $3.31 per share per week.
At $1000 per btc, that is $6.25 per share per week.
At $5000 per btc that is $31.25 per share per week.
With btc at $5000 you would need only 32 shares to make $1000 per week in dividends.
With btc rising as rapidly as they are, the need to capture a good percentage of the global hash becomes critical. Of course, I did not remove expenses, or add franchising, or hardware sales, etc. I just wanted to show what you could do just by capturing a good chunk of the network hash.
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CUBE should meet roi in fiat since btc is going to the moon, it's for one of those ppl living in one of those countries having a hard time aquiring btc through exchanges, they better get one of these asics than holding on to fiat. well these ppl are 80%+ of earth population btw
Why would you measure ROI in fiat? Shouldn't ROI always be measured in BTC? (You don't have to use an exchange to acquire BTC. I've never used Mt. Gox, Bitstamp, or any of the other exchanges.) Most people do not have easy access to btc yet. Count yourself among the fortunate few who do. To you, it sounds trivial. To most, it is still difficult. A miner can make it simple. And mostly anonymous.
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October 24, 2013: 553Gh/s gets 1 BTC/day @ a cost of $12366 (9.25 BFL singles from ebay) ($22.36/Gh/s) October 26, 2013: 778Gh/s gets 1 BTC/day @ a cost of $16900 (13 BFL singles from ebay) ($21.72/Gh/s) November 05 2013: 1016Gh/s gets 1 BTC/day @ a cost of $22013 (17 BFL singles from ebay) ($21.66/Gh/s)
November 17, 2013: 1212Gh/s gets 1 BTC/day @ a cost of $42,420 (20.2 BFL singles from ebay) ($35/Gh/s)
The prices of ASIC units for immediate delivery has increased dramatically over the last few weeks with bidding wars erupting over available units. There is a massive shortage of ASIC miners in relation to the demand due to slow production, and increased demand due to the rapidly increasing value of BTC.
I was hoping to substitute the ASICMiner cube this week for the 60Gh/s BFL units, but they immediately sold out and are not available even on the secondary markets such as Ebay in any quantity. I must say it was unexpected that the price per gh/s increased. It appears that this trend will continue until some company can provide higher hashing units at a lower cost. Many are promising to do so, but none have any available for immediate delivery at this time.
The cost to mine 1btc/day has quadrupled in less than one month. If this trend continues it will be over $100,000 before Christmas.
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Only an fool would take out a loan in an appreciating currency and only an idiot would loan it out.
When you are talking about loans in bitcoins you are discussing scammers and scamees.
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If I was Satoshi I would be hiding.
This planet is not all that friendly to those who rock the boat too much.
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Mania has been setting in for two years. It is no better or worse historically than it was in 2011. The only difference is a few decimal places.
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News from the year 2020:
This week a local Detroit man was arrested on suspicion of running an unlicensed bitcoin mining operation. Several ASICminer USB sticks and and a x486 computer were seized in the operation that took 40 agents 6 weeks to bring to an arrest. "We are all aware of the dangers of allowing unlicensed bitcoin creation, such bitcoins cannot be regulated and could be used for terrorism, child porn, drugs, or gambling." said Detroit's top cop. The mining operation allegedly used so-called "legacy" computers, which were produced before the FATAL act. FATAL required all computers to be fitted with monitoring chips to prevent cybercrime in 2016, and although most obsolete machines were turned in, some appear to have been withheld by criminals for uses such as mining.
The still unidentified man will likely face the death penalty, however his true fate will not be disclosed in the interest of national security.
In other news, Iceland has agreed to lend the struggling US economy 250 BTC to purchase much needed food supplies from Russia, in return for all of the mineral rights to the mostly abandoned state of Alaska.
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My lifespan is a limiting factor on my ability to hoard coins. If I don't manage to ever benefit from them, my stupid kid will probably have a good time spending it on hookers and blow. It will get spent eventually one way or another.
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The sun does not create enough energy in 1000 years to power imaginary quantum computers to even give a 50% of finding a private key.
Don't bother.
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People often ask when I will sell my btc.
My answer is always the same: I will never sell them. I will spend them when the concept of selling them has become obsolete.
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When btc are a million dollars each, owning a coin will not make you a millionaire, it will make you a single-aire.
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