541
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Economy / Speculation / Re: Poll :: When will Bitcoin reach $1 Billion total value
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on: January 04, 2012, 09:25:49 PM
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Just Paypal commerce is around 100 Billion and the majority of that is just in the US and Europe.
$100B transferred by PayPal in one year? What's special about a year? You can't compare total value of bitcoins to an amount of money flow in PayPal over an arbitrarily chosen time period.
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542
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Economy / Speculation / Re: "No Reserve" explanation
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on: December 29, 2011, 09:27:02 AM
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Hi Zhoutong, could you let us partially cash out profit from our position? Currently, we have to liquidate our position to make the profit move into USD balance, I would like to buy real BTCs using my profit balance. All your unrealized profits are automatically leveraged again for trading. Your tradable balance should already include the profits. Maybe he wants to withdraw some of the profit to his wallet outside Bitcoinica.
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543
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Economy / Speculation / Re: "No Reserve" explanation
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on: December 29, 2011, 06:02:43 AM
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As I understand it, when a Bitcoinica customer goes long more than that customer has USD balance for, or goes short more than he has BTC balance for, he is effectively borrowing from the balances of other Bitcoinica customers to do so. That's what Bitcoinica is all about: pooling resources of varied customers to facilitate trading beyond their means. Of course this requires that either some customer balances aren't being fully used, or some of their positions are in the opposite direction of others'.
This means when Bitcoinica customers are predominately long, you may not be able to withdraw USD or go long or cover shorts because others have borrowed your USD. Vice versa for withdrawing BTC, going short, covering longs, when most are short.
Am I on track zhoutong?
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544
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Other / Off-topic / Re: 1GH/s, 20w, $700 (was $500) — Butterflylabs, is it for real? (Part 2)
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on: December 21, 2011, 01:04:40 AM
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Are these shipping yet? If not, what's the ship date?
-rph
We're currently in manufacture with our revision B PCB with the larger power regulator. Our expected ship date for pre-ordered BitForce Singles is mid January. Regards, BFL Do you have many completed or almost completed Rev A units that you'd consider selling with a drastically reduced clock to keep the heat and power draw within spec, with a deep discount to correspond with the low hashrate? I wonder if you might have boards that are now otherwise useless because of the discovery of higher power draw than expected.
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545
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Other / Off-topic / Re: 1GH/s, 20w, $700 (was $500) — Butterflylabs, is it for real? (Part 2)
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on: December 15, 2011, 03:13:13 AM
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With $599, $3.10/BTC, $0.115/KWh, 830 MH/s, 80 W, and current difficulty (1155038), it will take 9.75 months to pay off an investment in BitForce Singles. I want a warranty that assures me the hardware will last at least that long.
BFL: Please consider offering a 1 year warranty, perhaps for a small additional fee if you must.
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547
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Other / Off-topic / Re: 1GH/s, 20w, $700 (was $500) — Butterflylabs, is it for real? (Part 2)
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on: December 04, 2011, 06:12:16 AM
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Keep in mind that 40W more power only costs you about $40 per year more in electricity at typical US rates. (using 11.4c/KWh to make the numbers come out easy)
I like to use 1 year for projecting whether such a mining device is worth investing in. So go ahead and give me a device that uses 60W instead of 20W, discount the purchase price by $40, and I'm happy. A year from now, surely I'll either be out of bitcoin mining altogether, or will have upgraded to much better hardware anyway.
At this point, I mostly just care about $/MH. I can build GPU rigs at about $0.60/MH, and they have more certain future resale value. I'm willing to pay up to $0.75/MH for FPGA-based miners, because going from 400W/GH to 60W/GH is a major savings in power cost, and it's much easier to deal with the heat. At $2.50/BTC at current mining difficulty at 11.4c/KWh, a $0.75/MH 60W/GH rig recoups its cost in 11.5 months.
In my opinion, ROI is becoming the primary factor in bitcoin mining, not so much W/GH. I think few serious investors want to pour money into mining rigs without a good chance of getting it back in a year.
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552
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Bitcoin / Bitcoin Discussion / Re: Bitcoin2Cash having problems?
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on: August 07, 2011, 12:01:47 PM
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I am unable to withdraw BTC from bitcoin2cash.com.
But the order matching problem was probably just a rounding bug. I had no problem selling 4 BTC at $12.99 (to ensure overlap with the bid at $13.00).
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553
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Bitcoin / Bitcoin Discussion / Re: Why bitcoin won't make it
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on: July 04, 2011, 11:32:26 AM
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Funny I run across this thread right now... I'm in the USA and do business with someone in China regularly. But it's annoying paying fees to banks for moving money back and forth. He recently got into bitcoin mining and will be selling at least some of it, so paying me with bitcoins instead of trying to sell bitcoins locally will be win-win! It's the same situation in the other direction as well.
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555
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Bitcoin / Bitcoin Discussion / Re: Mt.gox claims page is up
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on: June 21, 2011, 10:29:19 PM
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You guys are lucky. I've been trying for 3 hours to just get the first page to load! My first attempt to load the page a few hours ago did work, but after trying to submit the first form, it went AWOL and never acknowledged the submission, and I got no email. Since then, the page has never loaded despite many attempts and much patience.
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556
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Economy / Marketplace / Re: mtgox deposit/cashout methods time frame
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on: May 14, 2011, 10:52:10 AM
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It amuses me that some people have been wanting to invest in bitcoins for weeks, but haven't been willing to pay even 1% to get money into the most liquid exchange. Meanwhile the price has soared. What's 1% compared to 1460% gain in just about 5 weeks?
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558
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Economy / Trading Discussion / Re: Live mtgox order list?
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on: May 13, 2011, 10:09:09 AM
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getting so annoyed at constantly having to refresh pages
Agreed. The new Mt.Gox beta websockets feed was announced weeks ago. I was sure somebody would have coded up a real-time updating NASDAQ Level 2-type market depth monitor by now. If MagicalTux isn't already working on this for the new version of Mt.Gox, perhaps a bounty is in order? Unfortunately some shortcomings currently deter me from setting up a nice realtime graphical interface for that. For example, the feed doesn't provide the current order book upon connection start, and pulling that from another page would be quite tough to sync properly. I've also heard the feed omits some data sometimes, though I haven't verified that.
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559
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Economy / Marketplace / Re: [BETA] MTGox websocket API, testers wanted
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on: May 13, 2011, 03:48:53 AM
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I was going to make a nice interface for the feed as well, but I'm not going to bother until the problems are resolved: Rounding issues No perfect way to start out in-sync Alleged missing data and dark pool inconsistencies
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