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161  Alternate cryptocurrencies / Mining (Altcoins) / Re: Alpha Technology Litecoin (Scrypt) ASIC Miner Development on: December 24, 2013, 06:58:50 AM
And my fav bit of the terms:


Cancellation & Refund Policy

Within 0-1 month after receipt of payment: Full deposit will be refunded.

Within 1-3 months after receipt of payment: 75% of the deposit will be refunded.

Within 3-5 months after receipt of payment: 50% of the deposit will be refunded.

Please note a cancellation fee of £70 towards handling charges will be applicable along with any cancellation.

what about "Customer Protection Plan"?
like for example bitmine offers:
Quote
1) Shipment can be late up to a maximum of 10 days from the agreed shipment date.
2) For each subsequent 10 days of late shipping, we will add for free 10% more hashing power to your order as penalty.
3) After the 61st day of late shipment, you have the right to request a full refund and we will pay you an additional penalty of 10% of the initial order amount.
162  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: December 13, 2013, 04:09:50 AM
just out of curiosity, how are you going to perform quality control/burn-in?
-empty test hashing
-live hashing with bitmine keeping the coins
-use customer supplied address (as some companies apparently do)
163  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: December 11, 2013, 03:12:51 AM
Someone who ordered a 2 TH/s Rig unit may get 250 GH/s extra.  That is 12.5% more hash rate (in an additional unit since the original unit was full).  As a 2 TH/s customer, I hope we get a 500 GH/s Rig under the CPP, as that is the smallest Rig. Anything less is poor use of precious rack space.

well additional unit is officially confirmed by bitmine, for those who ordered full units.
164  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: December 10, 2013, 06:36:14 PM
January and later batches should NOT be affected by the delay

Thats even more a joke for your early clients - my ones should mine since a week now & the 10% per unit is never compensating losses.

10% won't come nowhere near covering 50% profit loss which a 3 week delay causes.
now to mention you won't get anything for first 10 days of delay (about a 1.6btc/1500 usd drop in roi).
if they shipped a 400G unit on time, you would break even in about 12 days, with about 4.5btc/4000 usd roi
with this delay roi drops to 1000 usd, which is a massive 150% drop or profit loss of 3.3btc/3000 usd.
to fairly compensate you would need additional 60% hashing power per unit and not 10%.

and with competition shipping units on time, difficulty will get even higher, where even doubling the hashing power wouldn't cover the loss.
guess your best option is to hope for a 61 day delay and ask for a full refund.
165  Bitcoin / Hardware / Re: Isn't anyone else suspicious? on: December 09, 2013, 09:56:31 PM
I'm not naming names... cough... VMC... cough... Bitmine... but are these "other" 28nm players... cough... BlackArrow... cough... really going to deliver a working ASIC ever?

bitmine seems quite legit, well unless the videos from their assembly line are fake
166  Bitcoin / Development & Technical Discussion / Re: Is anybody working on pruning on the main client? on: December 09, 2013, 05:12:49 PM
Sorry, but if you want to run Bitcoin-QT on a local machine, it will be easily able to handle the few GB (current computer games are MUCH larger) of space and traffic. Otherwise you can also use prominently featured lighter clients like Electrum or Multibit.

Please tell me exactly why me reasoning that having a block chain that contains 4 years(!) of binary transaction data and still is half the size of a current computer game (random google, yes I know it's XBox One...: http://callofduty.digitalwarfare247.com/2013/11/call-of-duty-ghosts-is-a-39gb-install-on-xbox-one/) is "arrogant and narrow minded"?!

Currently the block size limit is ~1 MB, which gives a constant hard cap of about 55-60 GB of transaction data per year. This can be stored on a USB drive that you can get for 30 USD with free shipping (again random google, I am sure you can get it cheaper too: http://www.amazon.com/SanDisk-Cruzer-Flash-Drive-SDCZ36-064G-AFFP/dp/B007JR5304).

How the hell is this amount of storage going to drive away "most of the average people"?

i've worked with average people (as in not technically skilled about computers) for decades at local university so i got to know how they think and the limits of their understanding (as in interest in learning something they don't have to/want't to or need to).
anyway, a game which they will delete after a few weeks and replace with another. not so for the blockchain
you really don't see the problem with such a huge amount of space required? how long do you think it will take to sync a 100gig blockchain. weeks? what about 1tera, a month?
so first time user will have to wait way LONGER than a bank wire transfer. so much for the "transaction speed".

so on one hand you have the idea of decentralization, and on the other ease of the use and efficiency. what is the middleground? some form of distributed blockchain?
167  Bitcoin / Development & Technical Discussion / Re: Is anybody working on pruning on the main client? on: December 09, 2013, 04:13:31 PM
do you expect every single client to store 100 terabytes and wait for months to sync??? lol
No, this is why SPV mode supporting clients exist. Perhaps you should refrain from posting in the technical subforum until you're a little more aware of how the Bitcoin system works. Also, please try to treat the other contributors with a bit more respect.  Responses like "??? lol" from clueless people drives away competent contributors.

yea sorry about that, but arrogant and narrowminded people just annoy me sometimes.
(judging by the quote: "If you have such an old PC that a few GB are of concern").
i know about spv mode clients, but until every major client is such and featured prominently in download sections, this has the potential of driving away most of the average people.
168  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: December 09, 2013, 04:36:55 AM
so are you guys still on time with shipments for last week of december?
its getting closer and closer
169  Bitcoin / Development & Technical Discussion / Re: Is anybody working on pruning on the main client? on: December 09, 2013, 02:11:56 AM
The last I heard about active pruning was https://bitcointalk.org/index.php?topic=204283.0

Other than that supposedly bitcoind already can prune, but it is not really exposed out of fear that there might be too many people actually doing it which would hurt chain distribution. Also header-first sync might allow for some nice features (e.g. keep the last N blocks + a random sample of the older ones, up to size X). I don't know about progress there though, in general I would just advise to invest the 2 USD or whatever a few dozen GB of HDD space costs these days and just store all blocks.

If you have such an old PC that a few GB are of concern, you might want to think of switching out harddisks anyways, especially when storing wallet files on there...

and this line of reasoning is why everything gets so unnecessarily bloated.
multiply 10 gigs by millions of users (and billions of devices) and the result is a HORRIBLE WASTE of resources
(client hardware, internet bandwidth, electricity for all hardware involved, etc)
this is a big problem which might actually prevent global bitcoin adoption
average user wants to run a simple client and start using it right away.
what he gets right now is hours/days of waiting for "sync" to finish.
unacceptable if you're looking for widespread adoption by non-tech population
not to mention its already 10 #@$ gigs and its been only few years,
with the volume of transactions only a fraction of what will be coming in the future.
do you expect every single client to store 100 terabytes and wait for months to sync??? lol
170  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][Exchange] Latest Cryptsy Additions, News and announcements. NEW SITE on: December 05, 2013, 03:56:04 AM
It's a disgrace and is damaging alts in a very big way.

It's a 2 man band and we think they can support the incoming tidal wave to crypto??

Where is their DC and why are they ordering in servers themselves??  that is complete madness. Get in softlayer dc and make them do this.
it is a disgrace, saving money where they shouldn't (or is it profit above all? there are things you should never skimp on. or is your exit strategy when it all goes south run away and let the site collapse?)
outsource the hardware and use quality cloud services with proper scaling, ddos protection, load balancing, etc. obviously you can't handle it, leave this stuff to professionals and do customer support instead.
171  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][Exchange] Latest Cryptsy Additions, News and announcements. NEW SITE on: December 04, 2013, 11:02:10 PM
Cryptsy, might I suggest that you disable new user registrations until such time that you have your service working properly. These problems just seem to go on and on. If, as it's claimed, most problems are due to an influx of new users, then the solution is rather obvious.

first thing they should have done is to disable API, to keep bots from hogging all the resources with chump change transactions.
172  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN][Exchange] Latest Cryptsy Additions, News and announcements. NEW SITE on: November 30, 2013, 06:13:38 PM
Site is extremely slow for a trading website.  Please work it out.

its like they just pasted the new horrible design over the old horrible design.
the old one was pretty useless but the new one is even worse, which i tought was not possible.
well, "congratulations"

slooow, bloated, clumsy user interface. every action takes ages (20+ seconds).
focus on fast and efficient code and not worthless eyecandy.
you can only scale your hardware so much, without efficient code there's a breaking point when there are just too many people/actions to process.
also why would anyone upgrade live site without running new version on a testing platform for a while.

if its the bots overloading your system by creating/canceling many small useless fractional transactions, implement measures and boundaries to limit the impact (like set minimum allowed order value to be equal to 0.1btc/1ltc/or whatever is equal to min 10 or 100 usd, allow only x transaction per minute, order cancellation timeout set to 60 or more seconds, etc)
173  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: November 28, 2013, 08:58:07 PM
You Guss did. Receiver email confirmation?
I got. only Processing in the Account. Maybe i call tomorrow
i got an explanation "processing" will be changed to "shipping" when your order is ready
174  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: November 24, 2013, 08:52:19 PM
any idea about customs tax? normally i don't have to pay customs tax on shipments from within EU countries (since i live in a member country), but i have no idea what is the status of Switzerland in these kinds of transactions, because there are all kinds of business/political arrangements and agreements between countries in EU (european union) and non-EU european countries.
(Switzerland is from where the rigs will be shipped i assume, that would be another 20% on top of the original price with shipping costs)
175  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: November 23, 2013, 12:28:40 PM
can't wait to get my hands on it, ship now plz :)
176  Economy / Trading Discussion / Re: Should trading bots be banned? on: November 10, 2013, 09:59:07 PM
Far from normal. Easy to ban, just limit orders in API.

there are many more ways of dealing with bots
+ set minimum allowed amount of single order equal to 10 or 100 usd (to get rid of all that 0.000001 junk and chump change "orders"). such a waste of resources (all those unnecessary connections to servers)
+ set limit 1 order per account per 10 minutes
etc
177  Bitcoin / Hardware / Re: Official BITMINE CoinCraft series 28nm ASIC miners thread on: November 06, 2013, 07:46:34 PM
Any updates on the shipping date?
Chances that we get it earlier? :)

my last update was for last week of december (19xx order)
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