Got it, -S all.

Forgot that. 3GH/s pointed at altcoin!

mining with bfg miner seems borked somehow. Its reading longpoll and everything but for some reason it can no longer see my usb block erupters as valid devices. only device listed is OCL, and that ain't doin squat. hmmmmm.

That fixed mine too.

You are correct. Auction officially ended. My worthless litecoin has no value when compared to Altcoin. In fact, I am deleting my wallet.dat for my litecoins to free up hard drive space to make room for all of my Altcoins.

Lets have some fun!

Short auction for the first litecoin to altcoin transaction.

I have 1 Litecoin I will trade for altcoin. Highest number of altcoins offered for a Litecoin by 5pm today EST gets the Litecoin.

My altcoin address: 1MyVyam3yCgPk8ZS2BB6bKDPiDq6E4djB5

Bid often and bid high!

All other pretenders to the altcoin designation must be assimilated. Resistance is futile.

But I think the minimum purchase was 1000 shares. Please correct me if I am wrong. My memory seems to be fading as well.

As difficult as it is to design and produce a chip, it is a logistic nightmare to manage the sales of millions of them. And yes, all indications are that this production line will run into many millions of chips produced. These chips will be distributed... everywhere.

It would be foolish for anyone to just discount the capability of AM. They have a long history of underpromising and overdelivering. The failure of Gen2 was the exception, and a very valuable learning experience, one that would have bankrupted anyone else. It appears likely that they will emerge even stronger for the experience.

That does not mean there is not a place for competitors. But they are best served by taking their blinders off and recognizing AM for what they really are, not for what they wish they would be.

You may now change your name to "FAIL"

Where are all the banners of old women holding up block eruptor blades? I really used to enjoy those whenever FC made a State of the Union speech.

Regardless, I think it will be difficult for FUDsters to find a black cloud in this silver lining, but I am certain many will try.

They do not add "value" in the sense you appear be using that word. Creating more currency does not create more value. It does not create more eggs, more steel, or more hairspray. All it does is dilute the current pool of value counters, ie currency. It has nothing to do with who is mining them with what sort of hardware, nor does it matter how many joules of energy gets expended. If one could make the argument that more currency adds value, the treasury could print up trillion dollar bills, pass them out to everyone, and all of the worlds problems would be solved.

Digital currencies do not exist to give folks with graphics cards or CPU's something to do, and in the end (aside from maybe namecoin) altcoins do little bitcoin does not already do. Some view litecoins like a charity of sorts, a place for the poor and downtrodden to gather some wealth. Imagine 5% of all global transactions running on the blockchain. There are not enough CPU's in the world to do that. In fact, there are not enough GPU's, and in reality there currently are not enough ASICs. ASIC technology allows the bitcoin network to scale up to the enormous number of transactions needed to become a global currency. That is the fundamental limiting factor for Scrypt-based systems. They will never be able to scale up.

You really need an entire industry devoted to ASIC production to scale up to the potential that crytocurrencies have. Do you really think you can do that with graphics cards? Seriously?

Imagine all currencies as slices of a pie. Each slice represents the amount of value stored in that currency. You could have 100% of the value in dollars, and then every other currency would be worth zero. Or, you could have 50% of the value in dollars and 50% in bitcoins. Neither scenario changes the size of the pie. In order for one to grow, the others must shrink.

Each time an altcoin grows in value, it removes value from the other slices. From dollars, from yen, from rubles, and yes, from bitcoins. If all of the combined value of altcoins were transferred to bitcoins, each bitcoin would be worth many thousands. A good part of the struggle bitcoins have had of late increasing in value is doubtless due to the proliferation of altcoins.

The question is whether this trend will continue. Altcoins syphon value that would otherwise exist in bitcoins. Whether this is a positive development or a negative one remains to be seen.

I tend to think eventually bitcoin will eat all of the other altcoins, driving their value to zero. But it will probably not happen tomorrow.

Since Gox is not broken from millions of quotes per second, I can only assume they are not live yet.

One 333Mh/s block eruptor USB could get more than that in just 3 days.

Unless they taped out at the end of last month and just didn't happen to mention it to anyone. All conjecture at this point.

Bump for surpassing 300 registered accounts.

Bump for surpassing 300 registered accounts.

I see this as a false dichotomy. AM can certainly tell no one anything and still produce gen3 chips, deploy massive Phash, and capture 20% of the global hash, and at the same time produce millions for investors in hardware sales. You cannot simply equate a lack of communication with a lack of results. That would be irrational.

The value of bitcoins is already derived from the same place that it will continue to draw from: The capital represented by other currencies. Every time bitcoins increases in value by $1.00, all of the dollars in circulation lose one quadrillionth of a cent of value. The representation of capital already exists, it is just moving from one form to another. In this case, from fiat to bitcoin. This can certainly continue until such time that all fiat has no value, and all capital is expressed by bitcoin.

Before that occurs though, as stated in the original post, bitcoin can be used as the perfect collateral for fiat loans. To me it makes perfect sense to use an appreciating asset as collateral. You still have a claim upon that asset, assuming you can pay back your inflationary fiat loan as required. Kind of like pawning your bitcoins for dollars. Come back in 3 months, pay off the loan, and get your coin back. This is the basic model of how lending occurs when you have a deflationary currency and an inflationary currency existing side-by-side.

Bitcoins may eventually not be valuable because they can be spent (a currency) but rather because they are the required collateral to procure fiat loans.

The best time to plant a tree is 50 years ago. The second best time is today.