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I would have to say no because I think we are on track to sustainable growth. We have bottomed out I believe and will not reach $2 BTC again (or at least for the forseeable future). Not a bubble but more of a natural equilibrium. Then again if we are at $6 BTC next week I will have to say bubble.
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Innnaaaaabbbbaaa! Where are you?  Anyone else think Inaba should have posted some/any results by now? I know he said he was going to be later but he is getting really late now. |
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I notce that the last little while we have yet to go below $3 and there seems to be quite a few coins keeping it there. I can't help but think that the $3 floor I mentioned earlier has been solidified. Yeah yeah I know proudhon and Jonathan Ryan Owens, you think we are headed to $1 BTC in an hour  |
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It seems like they fixed the bid glitch I had described. My bid is no longer greater than the total balance in my account which I wouldnt have had to re-place if they didnt delete it in the first place.
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I think they're still debugging or at least tweaking; a pending order didn't show up for me a minute ago but it does now. I also have to wonder if any of the "rally" of the past day or so came because of the MtGox timer -- people expecting something bigger than a UI overhaul maybe? I hope not, but you never know.
I wondered this myself too but if it was then we will see a rapid decline which I do not see happening any time soon. I have to wonder if the user/manipulator will move his/her bidwall at 2.625 seeing as its looking less and less like it will get filled. Also what a move of that wall to $2.80 would do to the markets. |
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Also one functional difference I found is that I can make buy orders at least with more money than I have in the account and I dont think it will recognize it until the order goes through. This means fake bid walls could be created very easily right now. Not sure if the same thing could be done with sell walls. I wonder if we will see anyone using this manipulation technique while they can.
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Seems they just deleted my pending buy order. Hopefully just because of an update but I dont like that bug.
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I notice the load times are slow too... Could be everyone checking the new layout at once or maybe it is just too much for their servers to handle. Regardless they make enough to buy sufficient bandwidth to support an infinite number of users. Lets hope this is a temporary problem.
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Not sure if the countdown is finished but a new layout was just revealed. That I am assuming was the big countdown. There doesnt seem to be any functional difference.
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And wow theres the new layout for MTGox. Will take me a while to decide if I like it.
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I'm guessing some people at the bitcoin conference decided to invest a little money. They triggered EUR transfers to mtgox on monday and now the money is available to spend on BTC. That's why we cracked 3. Makes sense?
I think that's an excellent guess. Just like the US conference this will end up being temporary and the march downward will resume once the dust settles in the next few days. Well, you've got to admit this is all better news than this summer with Senators calling for the outlawing of bitcoin, the Mt. Gox crash hack & shutdown, and mybitcoin's disappearance. Personally, I don't care if bitcoin becomes the default world currency or not, which seems highly unlikely. A small bit part in the world economy is good enough for me. One day, I want to see a sign like this: "We accept Cash, check, credit card (VISA, MC, Discover, American Express), Travelers Cheque, PayPal, Dwolla, and Bitcoin" Speaking of which, I'm guessing mtgox will rebrand itself with a better name that could be included in the above list, and won't make users laugh when they learn what it stands for. Hmm... perhaps that's tomorrow's announcement? Whats so funny about a Magical Tux? Its deadly serious! |
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I have been looking into making something like this for about 6 months. It seems that something like this can be made for around $800-$900ish now. I will be looking into it. However the resale on the GPUs are good. I made all of my rigs to run as mid-high gaming machines so I can sell them quickly if need be.
Despite BFL claims their product does not have many uses outside of mining bitcoins so the resale is almost nothing. I expect to get most of my profit when I sell the used hardware. A 6990 will be useful for years and years down the road.
As far as I know, we still don't know what chip this is. FPGA's are reprogrammable and have many uses Those uses would be to students who would get educational discounts on brand new FPGAs and to businesses who are unlikely to buy from another person and probably not used either. I work for a large corporation and nothing could be purchased from someone off the street. It would have to be an approved vendor which takes quite the approval process. Even then the company I work for would never buy something used. So to address your answer, no there is still no resale value. |
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Ah, I didn't catch that. Yea, a cpu miner will have a few invalids. You aren't CPU and GPU mining on one rig are you?
If you are I'd stop, dedicated GPU mining will give you a higher hashrate than doing both on one machine. I'd stop pcu mining altogether, not worth the >150W you're consuming
Runing a 6 core 1090T OC'd at 3.6Ghz and a 6950 OC'd to 951Mhz Core and 830Mhz (underclocked mem). I do not pay for electricity and I dont mind the extra heat in my apartment. I am also mining with 5 cores instead of 6 using the command line Ufasoft miner since i cannot get it to run in guiminer. I get the exact same performance with 5 cpu cores than 0 as I have done some optimization. I did blow up my 600 watt PSU doing this however and am now running a 850W lol. With afterburner and custom fan profile the 6950 runs at 77C and the CPU at 53 (Corsair A50 and Arctic Cooling MX-4 paste). Also have 3 120mm intake fans and 2 140mm exhaust fans. I am not worried about power consumption but temps are important to me. [Update] So far with 2 hours running at the pool I have earned ~0.034 BTC I think this is more than the Deepbit pool on average but will have to wait a day or two to find out. I would average 0.36 BTC per day at Deepbit Also no more invalid shares so I just think I had really bad luck for some reason. I will be sticking with this method for the time being. |
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Hash rate will be different between the miner and the site. The miner is real time, whereas the site is average shares submitted.
Same goes for the delay in what you see on the site as submitted shares and what your display on the miner reads.
Your rejected share is probably a share submitted after a block was solved. This still happens with LP enabled, just not as frequently.
Hmm another rejected share on my Ufasoft (CPU) miner. So far 2 out of 18 rejected shares which is much higher than I have ever gotten at Deepbit. Maybe I will be better off to do my CPU mining at Deepbit (19Mhash) and GPU mining at ABCPool (389Mhash)? Im going to keep it running for a while longer and if this continues to be a pattern I will have to switch at least that miner. |
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GPUs certainly have resale value, due to their dual purpose.
But I think that bitcoin price instability is the real killer. If bitcoin price collapses we are talking two or more year payback period. And who can predict what will happen after the block reward halves in 2012?
Does it not halve in 2013? |
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I have 410 Mhash/s (even though ABC is showing 320) and I have 0.01 since I mentioned I made the switch.
Interestingly enough I just saw my first rejected share (not even stale) from my Ufasoft miner. There also seems to be a few minutes at least delay between when my miner shows a share to when its registered on the site. I really hope this is just a delay. Has anyone else experienced rejected shares before and what does that even mean?
[Edit]
Rejected is what the miner said that can mean stale or invalid. I got an invalid which I have never seen show up on other sites. I have since received 6 invalid and 35 stale. I suspect this is a high number of invalid. Can anyone confirm?
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So,
Does everyone plan on buying these widgets--provided they work and stuff?
Not a chance in hell. Bitcoin prices are too unpredictable and I would rather use GPUs so I can game. Not to mention they will have a better resale value than these units. AGAIN THIS IS IF THIS IS FOR REAL. If for some reason I decide to build a 50 Ghash mining farm I would use these simply for the logistics. Even if they do provide a working demo to Inaba it doesnt mean they will ship with the same performance level and I suspect even if performance is up to par then reliability will be suffering. |
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Yeah I guess I was a bit off on the percentage but its still very low. This is just the standard bitcoin network fee. This is waived by deepbit but will still amount to next than nothing in the big picture. This is my first 0% fee pool and it will be interesting to see if my shares match up with my miner now that I am at a PPS pool. Anyways if its the same number of shares showing submitted at Deepbit this will be a much more profitable pool for me.
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OK. It is almost 18:00 in Kansas. Hopefully tomorrow I wake up and all this scam thread can be deleted and the numbers have been proven  +1 Consider this as my vote to have this thread purged once (if?) this is proven to be real, and units have shipped out. I vote locked but no need to purge. Locking the thread will keep it from popping back up to the top but still keep everything on record. |
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Did the calculation on my shares submitted to deepbit and I would have made 1 more BTC at ABCPool (6.3) so I have officially made the switch. To get the 0 fee you have to manually set it though because they try to include a 4% "donation". You also have to pay the tranasction fees for transferring to your wallet which are 0.1% so not a big deal at all given that I am not paying a fee.
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