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Bitcoin / Bitcoin Discussion / Re: bitcoin is failing in replacing fiat in physical shops
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on: February 15, 2014, 04:25:11 PM
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This whole malleability fiasco has shown once again that zero confirmation transactions can not be trusted.
since its not practical waiting for 10 minutes for a payment to clear when buying coffee it seems to me that bitcoin will never go mainstream in physical shops. any solution involving a third party to clear payments defeats the whole purpose of bitcoin.
any third party will effectively turn into a bank along with all the classical fractional reserve practices we have today.
IIRC I believe that BitPay runs a network of low-latency nodes that ensure that they can accept zero confirmation transactions. Anyone using BitPay is unaffected.
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27
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Bitcoin / Hardware / Re: HashFast announces specs for new ASIC: 400GH/s
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on: December 28, 2013, 06:36:06 AM
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800gh/s per baby jet? Maybe everyone doesn't have to bring out the pitchforks after all? Hashrate looks a little unstable at 800GH, and we don't know the power numbers at that rate, but I agree. 800GH/s with an MPP in early February brings the limetime loss to 16BTC/BJ rather than the eye watering 27BTC/BJ. While a 75% ROI is less than break-even, it is better than 48% we were looking at earlier. hey guys.. don't assume the 800 GH average rate is for ONE module... there's really little chance that a chip designed for 400 GH could be over clocked to 800 GH, so assume this is actually two GN modules hashing at 400 GH each... But it was hashing at 600 GH/s earlier....
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34
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Bitcoin / Group buys / Volume deal: $2.75 per gh, Terraminer IV, BELOW COST, PROFIT PROTECTION PLAN
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on: October 09, 2013, 09:16:35 PM
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We are gauging interest in a deal for Terraminer IV hardware, which will be discounted to 2.75$/GH (sticker price is $3). Hardware will ship in January. Minimum buy in is $10,000. Up to $1M of hardware is available.
Why should you take this deal? Not only do you get the special discount, but also the guarantee that every day our shipment is late, you will receive 1% additional hash power.
In addition to the above, volume deals would be available for larger orders.
Let me repeat, this is a tentative offer. You can help make it happen by reserving a spot.
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35
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Bitcoin / Group buys / Re: [Interest Check] $2.99 (~.0241BTC) per GH/s, January delivery
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on: October 08, 2013, 06:21:31 PM
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Let me clarify a bit.
What is being offered here is a Cointerra IV group buy, 1st batch January delivery.
Around 0.99 BTC, according to the initial post, gets you 40 GH/s. Since this is a volume deal, volume discounts are probably going to be available, and shares are essentially unlimited. The prices seem much better than any other group buy I've seen.
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37
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Economy / Securities / Re: ASICMINER: Entering the Future of ASIC Mining by Inventing It
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on: September 29, 2013, 08:09:14 PM
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One possibility is that the 500 TH/s is sold in October. That 500 TH/s is worth $14 per share, or 0.10 dividends per share according to the absurdly high Gox rate, assuming the current conservatively-estimated market price of hashpower drops in half. If we note that lower denominations of hashpower are irrationally priced higher by the market, and if we value by Bitstamp, we can get up to 0.15 per share...
Another possibility, of course, is that we simply mine with that hashpower, putting us back in the ~20% share of network range, which is a good place to be as well.
I am looking forward to October.
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38
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Economy / Exchanges / Re: MtGox withdrawal delays [Gathering]
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on: September 29, 2013, 04:38:06 PM
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Ok, no one's talking about this so I'll say it. Absent evidence otherwise I think the 5% manual withdrawal option is dead. MTGOX repeatedly missed their promised timeline to process one for me and were very reluctant to allow me to cancel it and get the funds back in my account (though they finally did to their credit).
I have two reports of two successful withdrawals from IRC. I asked them both to report here so the information would be first hand. Both wanted to wait until Monday to have the full details of the transfer (e.g. originating bank). People are quick to complain when their withdrawal is late, and not so quick to report the good news when their money arrive. Did they have time frames, IE Days, Weeks, a month? Ill take 3rd party hearsay Here's one case for you. I may be getting a 5% withdrawal on Monday. I will report back soon.
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39
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Economy / Securities / Re: ASICMINER Speculation Thread
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on: August 24, 2013, 05:31:17 PM
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It's fun watching it go down in a panic over two reduced dividends, which were later explained to be the minority of our income for the last two weeks. In Bitcoin-world, if the money's not in a speculator's hands immediately after it is earned in the form of dividends, they seem to think that it's gone... there is no concept of reinvestment here.
I haven't seen a successful, publicly listed Bitcoin company without dividends yet. It speaks to our shortsightedness.
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