I thought it was a little far fetched when I first read it, but as I look around and see what the general trend is just on the forums I'm starting to see how plausible it actually is. Everyone wants the price to go up, so they hold as much as they can.

Oh wow, that's really cool. I hadn't heard of that company before. And if you're actually serious about doing it, look for crowdfunding on sites like https://btcjam.com/ (where you can get BTC loans for whatever projects). Though I suppose it does depend on how powerful the ASIC devices you have made for you are, compared to bASIC, BFL, etc.

Looks quite nice, but what's the point? Just to build an FPGA for fun? If so, do it and post pics 

St. Judes is good.

Another two I could suggest are the American Red Cross and The Water Project

Apparently, the trend is "Hold" ..given 75% of coins aren't moving around the network, as per this article on Ars

Ah, nice. I haven't been on that site in years!


Hmm, that might be a problem. Production servers are usually better than hosting servers if you're looking to run CPU intensive software (at least in my experience since hosted sites are constantly accessed, though it depends on the hardware). Personally, if I was willing to put out the mining software I'd get it on all the workstations which would crank out more power overall compared to the servers.

As Graet said, it really depends on the hardware, OS, and number of servers.

That all depends...do you have full access to these servers and permission to work on them?

I'm a SysAdmin and Network Consultant, so I get to control dozens of servers and hundreds of workstations spread over 15 of my clients. It should be pretty easy to create a quick batch file to silently run cgminer from a hidden folder with admin only permissions, specifically utilizing 25% or less of CPU power on the servers and workstations (not as noticeable).

But...just because I can do it doesn't mean I would. I'll stick with the ethical side of things

Thanks! And probably pretty right...but Bitcoin would have to be MASSIVE to get the attention of a bank (or set of banks). At a $100 million market cap, Bitcoin could be bought out by pretty much any executive at any major bank

That's because there's tons of people who don't read through all the threads...there's such a disconnect that he has to answer the same question in three or four different threads just to let people know what's up.

Probably the best idea. Talking with a lawyer would also help to sort it out, but my guess is that they would agree with the "better safe than sorry" approach.

Are you being required to submit for the license by the state, or are you just reading up on what might apply to your business?

Otherwise, you could ask yourself "What is Money?". The definition of...
...is roughly the same thing my counsel told me. "A medium of exchange adopted and backed by a government". Bitcoin can't fall into this category because it only has intrinsic value (it has value because we say it has value), compared to conventional currencies.

Thanks guys, took me a couple days to compile and write everything up, so feedback is appreciated!


Agreed. But which part(s) don't you agree with? I'm more than happy to start up a discussion on this stuff. Maybe somebody would point out a flaw I didn't see before!


The information I got from my counsel was only as a result after telling them about Bitcoin first (they heard about it, but they didn't know the details). If I could pony up quite a bit of cash, naturally they'd be more than happy to research into it for me haha. They gave me a good insight into the basic workings of the SEC, but to say the Bitcoin vs SEC case is closed is far from the end result of this.

Where'd you hear this?

The BFL 'SC' homepage here on the forum lol: https://bitcointalk.org/index.php?topic=89685.0

It has all the documented preorders on the forum alone, but there's probably just as many that aren't documented.



I haven't a clue.



What do you mean? Do you mean if BFL invested $1 million to research ASIC chips, that instead they should have invested a million into BTCs?

New updates.

Updated contract, details, QA, and Intro. Legal issues regarding running the fund have been cleared up, and I have worked with two lawyers on the issue.

Formal contracts will be posted by the end of the month, as well as an updated projection based on new BFL data and a fund "start date" (not set in stone yet) of November 1st.

Well, if you just go by BFL documented preorders alone, you get:

Jalapeno SC - 222 x $149 = $33078
Single SC - 239 x $1299 =  $310461
Mini Rig SC - 22 x $29899 = $657778
Total: $1,001,317

So that's a bit off from the $500,000 you pointed out Desolator

People usually have different ways of calculating out their predictions. For my old calculations [urlhttps://docs.google.com/document/d/1L8hKZinune9Cc7tWY9Pmx8J17BOxor7QNQAV03xROOc/edit]back in August[/url], I went to the top 5 largest mining pools and figured out what percentage of the pool's hash rate was generated by miners with fast rigs/setups. I then assumed that these people would be the ones to purchase the fastest ASIC devices. A bit of math later and I had my own prediction of 150TH/s to start, going up to 250TH/s over 6 months or so.

But again, this was back in August. I'll be updating my docs based on all the new info that's come to light within the last 2 months. I imagine my numbers will be a bit higher this time around.


http://bitcoin.sipa.be/
https://spreadsheets.google.com/pub?hl=en&hl=en&key=0AmcTCtjBoRWUdHVRMHpqWUJValI1RlZiaEtCT1RrQmc

Alright, so I just finished reading through this thread, and I must say I'm a bit confused....what exactly are we talking about here? Is the primary topic focused on 'property and Bitcoin' or are we just spit-balling various legal issues for LegalEagle to research for his paper?

Ah, that makes more sense. That said, I couldn't agree more...it's better to figure out how you'll do when the difficulty is really high. As long as the difficulty remains under your prediction, you'll be good to go.