Some people don't realize that the extent to which Bitcoin succeeds is the extent to which "cashing out" becomes meaningless. You don't need/want to cash out if Bitcoin is accepted all over the place.
Or to think of it another way... I cashed out of USD into Bitcoin. I don't necessarily intend to go back.
Sometimes the best place to keep things safe is under your mattress. Are we always going to rely on some company to keep our assets safe and secure? I would certainly want and need the option to "cash out" with something like this. It is a little funny. Cash out your bitcoin then take it to your local bank to store it in a safety deposit box. I know all roads don't lead to Rome, but what else is safer then a deposit box at a federally insured bank? |
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Very cool!
I do run a backup server at my home (unraid) with over 22 terabyes of space, and I also use an offline backup service (crashplan) which backs up all my client workstations daily. Of course I can always backup the wallet.dat file manually and also write some kind of script to make sure it gets backed up. There are sooooo many options as to where/how to store your btc. I do like using the local wallet since I'm in control of it and there aren't any fees associated with using it. And it is not "tied" to anything but me, myself and I. I'm going to check out that blockchain wallet also...never place all my eggs in one basket I guess. Hopefully I won't get too addicted to all this.
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Wow, a plethora of information which prompts me to start from the beginning. It is like a movie. You have to watch it several times to catch the things you missed. And when I first "got into" bitcoins I read as much as I could thinking I was understanding everything....but not quite. I'll have to go back to the basics (with more understanding now) and catch all those things I missed the first time. I'm trying to grasp what benefit a merchant has if they start accepting btc? A sporting goods store. They accept credit cards, cash, online orders, all that. What would their benefits be in adding bitcoin as an accepted payment method? Unless buying baseballs completely anonymous online is it.
I also want to thank everyone who took the time to respond. I know some responses took a while, but it really is appreciated. Thank you.
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Isn't the whole idea behind bitcoin not affiliating itself with regular money as we know it? I see so many comparisons to btc/usd. If people are only interested in what a btc is worth compared to an American dollar then what is the idea behind btc? Why even compare a bitcoin to the dollar? Can't it just be itself and worth what people would make it worth? I know I'm not explaining myself correctly probably. Like what is the real benefit of bitcoin over the dollar? It is not backed or insured....is it just the "idea" of having an underground money? It is not like I can go out food shopping and pay with bitcoin. I'm just curious...what people have to say.
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I want to start to accumulate bitcoin so it is easier for me to transfer/exchange when I need them. I installed bitcoin wallet from bitcoin.org. When and if I tranfer BTC into this wallet are the bitcoin stored locally within this program or this program just captures the transactions and just displays them? I'm just looking for the easiest / quickest way to accumulate and transfer bitcoin. I really do not want to associate anything with a credit card or bank account. I want to be safe, not sorry. Thanks, I really appreciate the info.
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Hahaha, this ought to be good, classing all FPGA later orders as first in line for ASIC.
This all could have been averted if the community just told BFL to F off and that no one would order until the WHOLE thing was spelled out.
Of course we know someone would have just snuck in, but it would have been cool to see a community truly come together beyond greed.
Oh well, I really hope it all works itself out.
That would never happen. To a lot of people greed is more important then family, friends, health. Just look how corrupt everything is. I'm middle class which is called "the working poor" , so I'm allowed to say these things. The funny part about all this is greedy people aren't even aware they are greedy. They've had their head up their ass for so long they don't realize it. |
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There are so many greedy people out there that HATE to see new people jump in on this mining stuff cause it does cut into their profits. You can't hide making money programs forever and there are bound to be many more people jumping on the bandwagon as word gets out there more. It is quite strange though the type of feedback I have ever gotten on here. All the feedback/responses I have ever received were all of the bullish, sarcastic, negative type. Doesn't surprise me. When you mix anything to do with money you are certain to expect the "best" of people.  Hey, I guess no one ever started out as a new user here and never had questions. They just popped out of the womb with their mining rig in hand, tracking BTC prices. Get laid more often, it does help people! The problem is that the profitability is completely unknown. There are wild estimates all over the place, you would probably stumble on a few if you had a peek round the mining speculation section. No one really knows whether the price will go up or down, and although the consensus is that the difficulty will go up, it is unknown how much and how fast this will happen. Therefore, it is all but impossible to calculate returns. I would suggest that you break out a few calculators and your crystal ball. Noted. Since nothing is in stone and really no one knows anything there sure are lots of people with already preconceived notions on what will happen. I guess these are the mind readers with working crystal balls. The last time I used my crystal ball I was in Atlantic City - NJ losing money. Ha. |
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$30k is also quite big, not the same as refunding $1k
Why not? |
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There are so many greedy people out there that HATE to see new people jump in on this mining stuff cause it does cut into their profits. You can't hide making money programs forever and there are bound to be many more people jumping on the bandwagon as word gets out there more. It is quite strange though the type of feedback I have ever gotten on here. All the feedback/responses I have ever received were all of the bullish, sarcastic, negative type. Doesn't surprise me. When you mix anything to do with money you are certain to expect the "best" of people. Hey, I guess no one ever started out as a new user here and never had questions. They just popped out of the womb with their mining rig in hand, tracking BTC prices. Get laid more often, it does help people! |
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I ordered a single from BFL just the other day. Just received the wire/bank transfer instructions. After reading on here it really makes me hesitant to follow through with the payment because I really have no idea on what kind of daily return this thing could get. Is there anyone out there that could take a guess on what the approximate daily BTC payout the new single would get? If i'm only going to get a few dollars then this "hobby" i wanted to try may not be worth it at all. Seems like the same story, you have to have big money to begin with to make big money. Only the real large rigs will ever make money and not let the little guy have a piece. Rich getting richer, poorer getting poorer. |
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Isn't that how all the old boards are configured and tuned, using different firmware? You are saying if someone buys a single they could have a $1300 brick on their hands?
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wheres are the options "i dont have gpu's or fpga's but i plan on buying BFL-asic or non-BFL-asic"?
This is me also. |
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So with BTC there is no insurance or anything like that with your money? Basically anyone that has the knowledge to hack their way into your wallet/account and take your BTC they end up with it?
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Ok, screw it. Just placed an order on July 11th 2012 and the order number is 3163. I just ordered one SC. I was previously going to order a single, but only doing 832MH/s compared to the newer stuff is hard not to get. I wish everyone the best in their venture!!!! Please, wish me luck too!
Mike
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I don't have tons of money, so I just bought a Jally, about 30 seconds after they published the forms I'm going to wait a minute before publishing this so IRC buddies have a bit of an upper hand  Lowest order numbers:Jally - Garr255 - 1656
Single - OgNasty - 1657
Mini Rig - blackprapor - 1710
Also, The test orders that Steve and I put through to their database entries were 1650-1655.
So 1656 and 1657 are the lowest order numbers after the page was made public.
Woot! I get the first ASIC! Congrats on your huge success; Bit-Pay is a great tool.  When you order using BTC, do they just give you their BTC address? I don't have that much money in my BTC wallet right now and I'm thinking about ordering an SC. I would imagine they'll just send me their BTC address.... Also, could so many people buying higher tasking hardware, could this really cause it harder / longer to get BTC? Thanks. Mike. |
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Is their new SC Jalapeno really 3.5GH/s and only cost $149? Does anyone have a picture of what it looks like? Does it look a little like their older model? I also see they have an 8 pack upgrade for $599. I don't understand that because if you were to buy 8 Jalapeno's you would pay over $1100. How can it be only $599? Makes me excited to see 3.5GH/s for that price. And I thought 832MH/s was good for $600. Yikes!
When EVERYONE has 3.5GH/s, it won't mean as much. You can draw direct apples to apples comparisons. 3.5GH/s isn't the same as 3.5GH/s in 6 months from now. True. Makes sense. Would be more profitable to get the SC, which would be 40GH/s. I'm curious about what it looks like. They also only take wire transfer or BTC. I'll have to figure out the easiest/quickest way to upload some BTC to my wallet as I don't really have much in there now. I guess BFL will just give me their BTC address. Money, money, money. |
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Is their new SC Jalapeno really 3.5GH/s and only cost $149? Does anyone have a picture of what it looks like? Does it look a little like their older model? I also see they have an 8 pack upgrade for $599. I don't understand that because if you were to buy 8 Jalapeno's you would pay over $1100. How can it be only $599? Makes me excited to see 3.5GH/s for that price. And I thought 832MH/s was good for $600. Yikes!
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I was told by Butterflylabs they do not stock ANY of their products. The only way to get one of their products ( I'm interested in a single ) is to pay for everything up front then wait 2-3 months for a possible delivery. Yea, that's right....could take up to a quarter of a year to get your product delivered. Are there any other alternatives then this? I'm just looking for a small return...that's all. Could I possibly get 1 or 2 BTC daily with a Butterfly single? I've read lots on other threads, still can't post or respond and a lot of posts are about thermal grease, waterblocks, all the stuff I'm not interested in right now. I'm still at the very beginning stages of seeing if buying a single or two is even worth it. Electricity will not be an issue. So, if you have real life experience with the Butterflylabs single and think it is a good return, please let me know. I thank you very much!
Mike
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I've been reading the mining hardware thread for a couple of hours. Not much talk about the butterflylabs singles but more about the X6500 boards. I cannot find someone that has expereicne with both or would suggest one is better then the other. There are very nice pictures of many rigs out there...makes me want to jump right in, but I'm waiting to get more info. I've also been in touch with the makers of the X6500 boards and is willing to hold 2 of them for me, but refused right now since I want to learn more about the Butterflylabs Single.
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I came across the Butterfly labs mining board. The "Single" they call it. Anyone have any info on something like this? It has a MH of 832/sec which is pretty damn good and exceeds that of the 6500 boards.
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