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My order:
User Order Number # Modules # Ordered PSU (Y/N) Date Paid Shipper Dest. Country Date Received
ArticMine 24XX 3 1 Y 2/18 DHL Canada 7/03
I received notification of the shipping information from Avalon on June 29. The order showed up on the DHL site about 12 hours later. DHL uses Loomis for local delivery in my area so it was held at the local Loomis depot pending payment of GST/PST and small brokerage charge. I picked up the unit on the same day it arrived in town. There was an extra day delay in the delivery because it was not a major destination.
Some things I noticed.
Performance: Slightly above the specification provided the unit is kept cool. Room temperature should be well below 30 C, the very maximum, and ideally in the 23 C range or lower. This keeps the temperature 3 below 50 C. If the temperature 3 reaches 50 C it will stop and reset etc.
Both the wireless and wired network connections use the same MAC address. So I would not connect both at the same time to the same sub net. This can cause problems. On the other hand if one has separate routers connected to separate ISP connections to the Internet then connecting the wired to one router/ISP and the wireless to the other router ISP works great and provides an extra level of redundancy.
The unit comes without a power cable but also without the wireless antenna. I connected the antenna from an old router and this makes a huge difference to the stability of the wireless connection. These antennas can be purchased online.
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Anyone know when the next weekly report is coming out?
same here, didn't received 1, too. hope you're good to go, S3052. July 14, 2013 as per the last weekly report. |
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What the heck is that supposed upper bound, its utterly meaningless...
...
The February 2012 top. |
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They aren't issuing "paper Bitcoins" in the sense that they aren't backed by anything. The trust will hold Bitcoins and issue shares to represent those. Each share is worth 0.2 BTC and the trust will hold 0.2 BTC for each share outstanding. The trust can't issue shares to represent more then BTC it actually has. If hypothetically the fund was very popular and the fund wanted to issue more shares they are required to obtain 10K BTC (50K shares) before adding 50K new shares for trading. Yes that is my understanding. Each share will correspond initially to 0.2 BTC and then diminish by the amount of the Trust's expenses including the sponsor fee, and other expenses. So the BTC value over time of each will drop to cover the expenses of the trust. |
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This is going to be very interesting to watch. Just the speculation on whether or not the SEC will approve this as it goes back and forth will cause the the BTC/USD exchange rate to move about all over the place creating all sorts of opportunities for both profit and loss.
If it does get approved then the real fun will begin. With the opportunity to "short" the paper Bitcoin, trading BTC from your brokerage account and the Wall Street players getting into the act. Buying the units low and then pumping them to their retail investors a la Facebook maybe? If this does get approved and once the dust settles this can actually be bullish for Bitcoin.
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Long term this is very bullish. I suspect that MTGox is in the process of reaching a settlement with the US Federal Government and this registration is part of that process. Now paradoxically in the short term this can be very bearish since it takes out or mitigates the bears' fear of not being able to get their USD out of MTGox, so they will be more motivated to sell on MTGox. One also has to watch the spread between MTGox and Bitstamp here.
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Litecoin was conceived as silver to Bitcoin's gold by design. I actually would expect a variation of the LTC/BTC price over time in many ways comparable to that of silver/gold. I actually would also expect a high degree of correlation between LTC and BTC over time when compared to USD, EUR, CAD etc. Is it possible to trade LTC/BTC profitably. Of course just like silver/gold. As for charts the chart that I find the most interesting over time is LTC/BTC rather than LTC/USD.
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Let me guess. The USD wire from Denmark to Germany used a correspondent bank in the United States. So in reality the funds went from Denmark to the United States to Germany. I doubt very much the payment could have been seized if it had been made in Euros. Routing a payment for Cuban cigars through the United States is just very dumb, and yes it did violate US law. |
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Here in Canada the real-estate is still at an all time high.  Just watch bond rates and consequently mortgage rates. |
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Looks like MtGox is losing strength. http://blog.bitpay.com/2013/06/important-update-on-bitpay-exchange.html?oid=1039_1Thursday, June 20, 2013 Update on BitPay Exchange Rate Calculations Effective immediately, BitPay has temporarily stopped using Mt. Gox for determining the exchange rate for our invoices. The rate calculation that BitPay uses for each invoice is now as follows: 1. Pull the full Level II market depth, on the bid side, from multiple exchanges. 2. Merge the market depths into one Consolidated Level II table. 3. Calculate the blended clearing price for the amount of the invoice, assuming an auto-routing market sell order across all exchanges, with zero commission. BitPay is committed to offering the fairest possible rate to the buyer, while minimizing our counterparty risk. Which in the current market would amount to the MTGox price because 1) MtGox has the highest price by a significant margin. 2) MtGox still has the highest liquidity. |
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One huge difference when it comes to centralization between CPU (worst) and GPU (next to worst) and ASIC is the role of oerating system software. In the case of CPU and to a large extent with GPU there is the large dominance of Microsoft Windows. This led for example to botnets of infected Microsoft Windows computers getting a significant portion of the network hashrate. It also created the situation where Microsoft via a patch to Windows could launch a 51% attack if the majority of the network hashrate was on Microsoft Windows computers.
With ASIC on the other hand there is no longer a single vendor of propriety software controlling a significant portion of the hashrate. So yes ASICs make Bitcoin more decentralized because of operating system software.
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AML / KYC is very likely the part that requires manual intervention. This would also explain why USD wires were affected.
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Wait, you mean that some bitcoiners panicked over nothing?
NooooOOOooo.
Impossibru!
Yeah, certainly a pattern  We'll just have to see how the MtGox story develops. Their press release just didn't ring true though. They have to suspend all USD withdrawals because of increased activity? Hire some more staff dumbasses, not tell people currently working to stop working. Doh! One way to increase confidence here is for MTGox to give priority for large wires from trusted users. It takes close to the same amount of effort to process a wire for 90000 USD than one for 900 USD. The extra AML requirements do not come close to account for 100x the workload of withdrawing 90000 USD in the form of 100 wires rather than one. Set a minimum and process wires over the minimum within say 24-48 hours. |
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More than a $10 USD difference between Bitstamp and Mt.Gox... I mean, I get the press release and all... but that doesn't seem like a sufficient reason. Especially for people who have a lot of USD on Mt.Gox, you'd think they would be fine with waiting a few weeks for the issue to resolve... (which I think it will)
If they believe: 1) That MtGox is in trouble and that their MTGox USD will become worthless or only a few cents on the dollar 2) That (1) above will cause the BTC / USD exchange rate to plunge. Then it makes a lot of sense to take up to a 20% loss by buying on MTGox and then selling on BitStamp. |
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I was wondering: why would anyone set up a wall on 99.80, when there is no almost depth till 90? I'd say there might be a dumping round 2 on Bitstamp.
But it's strange. If those were goxcoins, why would they take such a high price difference? Or was cashing out via gox never intended at all and high rollers knew already, that they have to use another exchange? Well okay, they didn't buy at 114.48 and sold at 90 of course - it's something inbetween and maybe not that huge difference at all.
But it's all speculation..
I suspect a panic by weak hands holding MTGox USD not the high rollers. Hence the dump on Bitstamp. |
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With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread.
Theory. With USD withdrawals delayed for up to 2 weeks on gox, people who need the US dollars (and don't have an account in another major currency) are moving coins to bitstamp and carpet-bombing the bids. Yes this is true but it also creates the opportunity to arbitrage using Euros by placing trades on the MTGox Euro market that get executed on the MTGox US dollar market effectively withdrawing the US dollars out of MTGox as Euros. |
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With BitStamp trading as low as 90 USD while MTGox held at over 109 USD this is a huge spread when compared to a 2.5% exchange fee between USD and EUR
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