casascius pizza coin = 10,000 btc
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If you think TSMC is going to give any attention to Bitcoin ASICs when they have the likes of Intel, Apple and nVidia to deal with... well, I wish you best of luck  Who do you think is making Avalon chips? I guess all of those people with avalons are a scam eh? Those Avalons are 110nm, that must be what you're making. You'd have to be either extremely naive or a scammer to suggest anyone capable of manufacturing 20nm semiconductors is going to bother with bitcoin hardware. But I'd love to be proven wrong |
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Wow, this got off topic pretty fast, barely half a page in  I am planning to place a PET between my GPU chips and the heatsink to claw back an estimated 40W of the 110W consumed for each 6770. Pics pending Easter hols.
Are PET units nearly as efficient in reverse? And what do you plug the return power into? |
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we can't easily move past the limit of 8 decimals without severely screwing up everything.
Can one of the dev's comment on this? I heard a ways back that increasing the number of decimals was trivial. Although the protocol itself is simple enough to change (hell, you could make it add letters instead of numbers and smiley faces), the program that actually does the calculation won't work without a major rewrite. You'd have to update every bitcoind implementation, linux, embedded, modified/customized copies, windows clients, website backend codes using it, etc. As a friend said, "That would be a much bigger change than anything that has ever happened since Satoshi's original client was released". 2^64 = 18,446,744,073,709,551,616 BTC limit = 21,000,000.000 000 00?  So can we move the decimal at least 3 more places? |
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I agree something needs to be done about this. True, you could always move the decimal point, but that doesn't really seem like a sound solution to me.
Barring chain size and block transaction size limits, it IS a sound solution. Infinite divisibility is one of the key features of bitcoin. Even when all but a fraction of a bitcoin are "lost", the remainder can be split to meet any demand. |
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we can't easily move past the limit of 8 decimals without severely screwing up everything.
Can one of the dev's comment on this? I heard a ways back that increasing the number of decimals was trivial. |
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If you think TSMC is going to give any attention to Bitcoin ASICs when they have the likes of Intel, Apple and nVidia to deal with... well, I wish you best of luck |
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You know they mean business when they ship a working product.  Just a quick FTFY |
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He was not working for BFL that time.
So, the thread title ("BFL is keeping...") is false and very misleading.
3c. are any of these orders likely to be part of the 'first batch' shipment from BFL? Some of them are, not all of them. The number that will be in the "first batch" is kind of up in the air at the moment, given the current disposition of our first batch. Since we have a limited number of available chips for the first batch, I will not, in good conscience, be taking a large swath of them. Well, he works there now, and you can argue the difference between "taking" and "keeping", but the fact is, he gets to decide how many he wants to take. How many other customers get to decide, long after placing their order, how many they actually want? Just the guy that works there. |
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Known or not....this is a big FU to every customer in my book. Rather than being honorable and saying..."You know what? I have an order with BFL, <cough> and I will ship my own when every customer to date has his/hers. Sorry for the delays." Lets say he does what you said, and doesn't set aside any chips for the IPO. Now a few customers get their chips a few weeks sooner, and it's a giant FU to all of those who bought into the IPO (which does not include me). There's a limited amount of chips in the first batch. Not everyone can get their chips. Someone has to wait. Do they make the customers wait? The IPO investors? If Josh was getting a free MR just for his own personal profit, then I would be pissed.After all that has transpired, do you really think such a thing is beyond him? |
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I'm looking to buy 1 or 2 QUAD core LGA775 CPUs to upgrade my Dual Core machines, shipped to Canada. Don't mind using escrow if you can set it up with someone trusted and with escrow history on this forum. PM me with what you have  |
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I am opening a new offering, basically mirroring the BFLS product. It is for the MiniRigs & SC ASIC offering.
IPO will begin tomorrow:
6058 shares will be allocated and sold per Minirig, initially 2 rigs worth of shares will be allocated, and 6058 shares can be traded in for the physical Minirig hardware. 15% of the shares will be kept for maintenance and operation costs.
Once the details of the ASIC unit orders are publicly available, available shares will double and be put up for sale. At that point, it will require 6058 x 2 = 12116 shares to convert your BFLS.RIG shares into the physical hardware (Mini-Rig or SC).
Dividends on RIG will be paid out the same way BFLS is currently paid, on a weekly basis and the amount will be what the unit(s) generate that week. Obviously, no dividends on RIG will be paid until the hardware is in actual operation.
RIG shares purchased are for a share of the unit, not to help fund the purchase of a unit, since the units have already been paid for. Funds will be reinvested into further ASIC orders, which means the ASIC units will be "pre-purchased" already, and you will be buying into already purchased ASIC units with your BFLS.RIG shares, not funding the purchase of ASIC units. This is an important distinction, since it means you'll start generating revenue much faster than a unit you would be "funding" the purchase of.
Ticker symbol is BFLS.RIG
On one hand you're right (I'll edit the OP), in June he mentions that 2 minirigs will be put aside. Then he mentions that the number of shares will somehow double, but now he's being ambiguous about the number of chips being kept ["The number that will be in the "first batch" is kind of up in the air at the moment"], which leads me believe he's going to keep whatever he feels he can get away with to size down his FPGA mining operation. |
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I've been thinking of transferring my savings account (~$20,000) into BTC but I just don't know if that is the right move or not.
How to determine how much BTC to buy: - Pick a $ amount
- Imagine BTC is worthless due to a software bug. All that money is lost. Are you OK?
- Yes: invest this amount
- No: pick a smaller number and go to step 1
Good strategy |
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3c. are any of these orders likely to be part of the 'first batch' shipment from BFL? Some of them are, not all of them. The number that will be in the "first batch" is kind of up in the air at the moment, given the current disposition of our first batch. Since we have a limited number of available chips for the first batch, I will not, in good conscience, be taking a large swath of them.3d. what is the (best guess) expected rollout schedule once ASIC shipments start and conversion begins? I don't currently have one, and will be doing this based on what's available and trying to serve the customers of BFL fairly. Is it just me, or is it scammy as hell to keep orders that would've otherwise gone to first batch customers, who pre-paid over 8 months ago, and who have already been waiting 4 months past the original delivery date, just so you can upgrade your own operation's hardware? I hope it's just me over reacting EDIT: This is from June 2012
I am opening a new offering, basically mirroring the BFLS product. It is for the MiniRigs & SC ASIC offering.
IPO will begin tomorrow:
6058 shares will be allocated and sold per Minirig, initially 2 rigs worth of shares will be allocated, and 6058 shares can be traded in for the physical Minirig hardware. 15% of the shares will be kept for maintenance and operation costs.
Once the details of the ASIC unit orders are publicly available, available shares will double and be put up for sale. At that point, it will require 6058 x 2 = 12116 shares to convert your BFLS.RIG shares into the physical hardware (Mini-Rig or SC).
Dividends on RIG will be paid out the same way BFLS is currently paid, on a weekly basis and the amount will be what the unit(s) generate that week. Obviously, no dividends on RIG will be paid until the hardware is in actual operation.
RIG shares purchased are for a share of the unit, not to help fund the purchase of a unit, since the units have already been paid for. Funds will be reinvested into further ASIC orders, which means the ASIC units will be "pre-purchased" already, and you will be buying into already purchased ASIC units with your BFLS.RIG shares, not funding the purchase of ASIC units. This is an important distinction, since it means you'll start generating revenue much faster than a unit you would be "funding" the purchase of.
Ticker symbol is BFLS.RIG
The silver lining is that Josh believes in the ASICs enough to pay for some himself. That begin said, should BFL fold, he'll be the first and possibly only one to get his money back  |
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I know people far smarter and more technically/financially savvy than me who knew about bitcoin before I did, and they also hemmed and hawed at the thought of investing any real fiat into it.
I was the only one "naive" enough to sink any real time and money into it, and it payed off.
My only gripe is that everyone writes me off as begin "lucky", but even in hind sight, it made perfect logical sense to me when I did my due diligence on learning about what bitcoin was and how it worked.
I also knew that something this revolutionary only comes around a handful of times in ones lifetime, and for once, I was in a position to participate, but then again so were many other people who didn't bother.
/rant
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Nice to hear Jim Rickards opinion on bitcoin People are looking for alternatives because of a loss of confidence in paper money and traditional banking systems Gold is a great way to preserve wealth, but it is hard to move around. You do need some kind of alternative and Bitcoin fits the bill. I’m not surprised to see that happening. It’s almost a badge of respect when the Treasury starts regulating you,You must be doing something right. It’s not a knock on Bitcoin, I’m sure there are criminals using the Bitcoin world, but there are criminals and bad actors in the dollar world as well. The sight of a drug smuggler opening a suitcase full of $100 bills is not unusual. This "Jim Rickards" fellow seems to get it. |
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[...] Worst case scenario I will withdraw in a tax haven account.
bitcoin is a tax haven on itself as long as you don't convert to fiat what's your point?
correct to both statements... no taxes regulate bitcoin as long as it stays bitcoin. And if you want to withdraw in a tax haven, then you can safely convert bitcoin into USD.Again, your point is? No, they can't, that's my point, not with the same immunity to US law that you have. It's irresponsible to make such suggestions when the rules don't apply to you the way they do for most everyone else. How is it irresponsible? rules apply to everyone differently.. you're talking about a currency that can reach every corner of this world, where there are different laws and different people subject to them. US citizens have laws that protect them from things that other citizens in other countries do not have such privilege. That's not irresponsible, that's the way the world works, otherwise you are a communist or your ideas are. I'm not worried about the laws that protect people, I'm concerned about the laws that are in place to punish them for tax evasion, which is illegal for most of the middle and lower class. If you can convert bitcoins into fiat in a tax haven legally, good for you, and go ahead, but for most people here, it's illegal and the penalties are severe. |
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the faceless operators of decentralized electronic currency Bitcoin must be smiling somewhere.
Thank god, for a moment I thought Fox news was in favor of bitcoin. A sign to sell if there ever was one. |
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[...] Worst case scenario I will withdraw in a tax haven account.
bitcoin is a tax haven on itself as long as you don't convert to fiat what's your point?
correct to both statements... no taxes regulate bitcoin as long as it stays bitcoin. And if you want to withdraw in a tax haven, then you can safely convert bitcoin into USD.Again, your point is? No, they can't, that's my point, not with the same immunity to US law that you have. It's irresponsible to make such suggestions when the rules don't apply to you the way they do for most everyone else. |
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Electricity is a very high quality form of energy, and heat is the lowest. This would suggest that converting heat to any other form of useful energy may not be worth the effort. So any method of harnessing heat would most likely still involve heating something. Add a pinch of thermodynamic law and you're looking at a theoretical maximum temperature of whatever your Rig temp is (50-80'c). So those are more or less your boundary conditions, do something creative with a 50'c air source. |
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