Korbman,
Would you please kindly summarize what equipment the fund currently owns / ordered (ETA of equipment).
Thanks.
Sure! Butterfly Labs: 4 x Single SC 60GH/s - #16100 [January 8th] 4 x Single SC 60GH/s - #16252 [January 10th] KnCMiner 1 x Jupiter 400GH/s - #855 [June 4th] ETA of the BFL equipment is always unknown and unpredictable, but at this point I'd say within the next 2 months. It really depends on how they ramp up and start delivering the Singles. ETA on the Jupiter is still either September or October. More on this coming within the next few weeks as KnC releases new info, updates their queues, and gets their chips. |
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Probably another load of panic causing randomness to drive BTC-E sub $90 again(which is due to happen any moment)
Seems that's what it is. Article is definitely fake. Checked out the referenced "Supreme Court of California" ruling, but can't find anything. Props on inducing panic though..gives me another chance to buy in low while the newbies dump their coins. |
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Every day, 3600 new Bitcoins are mined. If KnC sells 3600 Jupiters and they take ALL of the mining market (which isn't likely) each Jupiter will mine maximum 1 BTC per day.
Is this correct?
Yes, that's correct ..obviously not counting hashing variance, round luck, devices going offline, etc. |
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What would you do different if you were in charge of this forum?
Be a shitload more liberal with bans and deletion of useless posts. I'd agree with this. As the forum grows, I think adding more mods would need to go along with this. I also wish there was a way to kill off sockpuppets ..it's seriously to the point now where I can't tell if I'm talking to actual newbies, or just the same guy with 5 different accounts. Dunno..maybe that's just me. |
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1.2 million dollars invested, holy shit. I can really see Just-Dice taking over SatoshiDICE with interest like this.
In my eyes it already has I agree. I'm not really into gambling games (though I play every once in a great while), and I've already played more in two weeks on JD than I have in nearly a year on SD. I think the reason (at least for me) is simply because I can credit my account on JD and then just play a bit...compared to filling up the blockchain and waiting on SD. Not to mention customizing my bets / outcomes is pretty awesome. That and I won BTC5.0 on JD, so I may be a bit biased  |
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What is a satoshi / share?
= BTC0.00000001 dividend per 1 share of S.Dice In this case, they're speculating a dividend of BTC0.000045 per share of S.Dice. |
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Yeah but still, why worry about whether you are on day one or day five when its not known whether day 1 is the 1st or the 26th?
-MarkM-
This ^^ Was in the middle of typing it up when I saw the post  I'm more concerned on the actual development of the devices and when they'll start shipping. Once this info is well known, then figuring out which day your device ships out on sounds reasonable. |
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Pretty sure people have been buying them up for $2-3 per credit...so you're looking at offers for around BTC30-35 if you're lucky  Best of luck though |
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Nevertheless, prospects for FPGAs in general are far from bleak, Cole asserts. The company is planning an FPGA targeting the Scrypt-based altcurrency market, dominated by Litecoin, but with many other competitors. Users will be able to visit the KnCMiner website and download software to reprogram FPGA chips to mine any new coin that emerges as a contender, he promises. “That means that we can sell a $3000-$4000 product that returns your investment,” he says, but adds that it must be more functional than Mars. “It needs memory channels, the ability to be reprogrammed, and probably its own web interface.” I think this is pretty awesome, and I presume they could pull it off. With a solid selection of dedicated scrypt miners, Litecoin could grow so much stronger than it is today...and it would also mean that any new scrypt based alt-coins (like the ones that come out every other day) would be crushed almost instantly (which I don't necessarily think is a bad thing). |
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Feels lonely in this thread just felt like checking up after a month and wondering how it's going with BFL chip credits and KNC
Ha, very true. I suppose I haven't posted an update in a while, other than updating the first page and my website! Chip Credits: My account has been credited with 176 BFL chip credits; 128 belong to the Fund, and the other 48 are mine from my personal purchases. My initial thought was to sell them, but that's been put on hold. Instead, they'll probably be used for something bigger  KnC: Ah, yes, good 'ol KnCMiner! They seem to have really taken off after partnering with ORSoC, and their Open Day QA session really helped gather momentum behind their initiative. As it stands right now, a single Jupiter has been purchased, pay-dated June 4th, 2013 and order #855 (though that's subject to change as the old unpaid orders get cleared out). Hopefully we get some more good news over the coming week or two on queues, shipping dates, and a status on manufacturing. If KnC can pull this off, they'll be the new standard for high quality mining equipment, leaving both BFL and Avalon in the dust. As it stands right now, the Fund owns 880GH/s worth of equipment. That alone should sustain us, but if it's on shaky ground (financially speaking) I'll add my processing power to the mix as well. |
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2 for 2 on successful transactions. Fast and professional as always.
Thanks bdub!
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Great job. I choose to invest not to gamble, but obviously I was wrong. Investors stay away from these site.
Are you kidding? Casinos are great investments...sure there will be ups and downs, but statistics are on your side. Given enough time and bets, the house will always gain an advantage. It's called a 'house edge' for a reason. |
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I enjoy seeing them each day. I am a small shareholder and I appreciate it, but if it takes more then a few minutes to generate then if I were you I'd stop for a few days and see if there are many responses.
Maybe cut back to posting every few days instead of daily?
Maybe post more regularly towards the end of the month, and less often early on? I think I'd be fine with once or twice a week, though I do enjoy seeing the daily progression of SD's bankroll and bet stats. I'm not entirely sure how you generate / pull the data, but maybe it's something that could be passed off to someone else? |
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This is a good summary of theymos' opinion on the matter. Probably just need a written agreement though, not GPG. Unless I missed something  There was a written agreement (evidenced by the thread).. I'm not entirely sure you know how written agreements work... Find, on the main auction page, where a binding agreement is created prior to bidding. This sort of agreement would state how both parties should proceed once bidding has ended and a winner has been chosen. |
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Lets say we have 2 guys. A and B. A wants to buy a bike so he can deliver newspapers. He ask you (B) for a loan. Once more, bond is a loan and principal investment must be returned.
He tells you:
1) Give me a loan but I have no obligation to pay you back what you gave me or in other words - I will stretch this loan out forever and will not guarantee you get back you money. I'll try to do my best so it won't happen.
2) I will make weekly (or what ever) payments but those payments are not fixed and can float up or down, depending how many papers I managed to deliver riding this bike. Bike I bought with your money. BTW. if I say home and sleep, you get nothing.
3) The road is one way and endless. It's mostly up the hill pedaling. Higher I get, slower I move and less papers deliver. BTW, there will be fewer and fewer houses too. One more thing... I'll deduct the cost of sandwiches and water from the earnings and keep some of the earned coin for my self.
Now, do you lend me the money to buy that bike?
PS! There will be other bikes on that road. Some have motors and "paper cannons".
An apt example, and fantastically humorous to top it off. Nice I think most people understand what they're getting into.. [...]
I can assure you that many of them don't. The best example of this comes from my own Note fund. And these are actual Notes (Bonds with a shorter maturity date) and follow the same rules as the securities you'd find in non-Bitcoin markets...though more floating rate than fixed rate for both coupons and maturity. The Par value on each Note is BTC1.0. The monthly coupon rate starts off at 1% and eventually increases. If you invested during the initial public offering, by the end of the repurchasing period you'd have made about BTC1.26 (26%) per Note...assuming a 15 month holding. Yet for a number of months, people were actively buying these Notes at BTC1.35-1.45 each. If I followed the contracts to the letter (as in, pay what I owe and that's it..no increased coupons, etc) ..then these buyers will have a guaranteed loss. Since that's the case, I can only assume that either A) these buyers are crossing their fingers and hoping for the best or B) have no idea what they're actually investing in. And I didn't say a word while any of this went on. If people want to be dumb, then I say go for it. |
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Fantastic job so far Dooglus. I'm curious to see how this site develops over the coming months. And I also can't wait for those wonderfully detailed stats |
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Are you all really that immature? Or is it just greed turning you all into petulant children screaming because you didn't get your icecream when you expected it? I'm not quite sure how all this becomes conspiracy theories such as those that some of the stranger individuals have posted, all I can guess is that it comes with the territory...
Most BFL threads that go on more than a page or two end up this way, unfortunately. Rife with conspiracies, and the word "sockpuppet" thrown around. This thread went to shit by the third page, and has only gotten worse from there. It has, however, been a party for my ignore list I'm actually kind of surprised this hasn't been locked yet.. |
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So I signed a message for him with my address, I offered that he can use escrow, but still he refuses to pay and comes up with insulting bs.
[...]
And regarding any written agreement: To bid in an auction is a written agreement itself. Plus CanaryInTheMine even endorsed that by posting:
Auctions here are a bit different than eBay or at an auction house; They're non-binding. Even normal auctions you have the ability to turn down the purchase, though it's heavily frowned upon. Point is, you seemed to have missed this gem: You will learn that in these forums auctions are nothing but "a device to assist in price negotiation" (literal quote from the admin). You can artificially raise the price with alt-accounts (aka "shill bidding"), not honor bids, not honor winners, etc. etc. etc. and you will never get a scammer tag.
The only way for CanaryInTheMine to get a scammer tag would be him to have signed a binding GPG contract with you, stating that he would have honored his bids if he won.
You two need to work something out. There is absolutely nothing that will be done otherwise. EDIT: Ah, Rampion seems to be on top of it this morning with his other posts |
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Did you send him the codes? He shouldn't have to send the codes first. Canary should be paying vortex first and then the codes would be sent. That's how it should work. The offer of escrow has been noted, so if there's problems why is it not being used? It was a general question, I wasn't implying either way. I presumed that, given this thread was in the 'Scam Accusations' category, someone had made a move and the other party failed to reciprocate. Turns out it's just the OP not getting their way and complaining about it.. |
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