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282
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Other / Off-topic / Re: Butterfly Labs ASIC Gear Potential
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on: June 22, 2012, 01:44:28 AM
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hmm if BFL have this tech, why are they selling to the public when greater profits could be made by mining themselves?
at least first then sell later..?
Because mining is volatile and unsure. Some ASIC developers, like Vlad, ARE going that route though. Oh maybe it's a good thing we will get tools to compete with him! Makes me want to buy one of these in the meantime while I wait for these beasts. I wonder if I buy ten of those can I trade it in for a Jalapeno for the upgrade plan they are offering? Hmm.. maybe I need to get these instead since they are technically "coffee warmers" like the Jalapeno. Don't forget to countdown the year till they come out.... http://www.cafepress.com/butterflylabs.559178306 |
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285
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Other / Beginners & Help / Re: [ANNOUNCEMENT]: The all new Bitcoin-Dice ||| Source-Code on Sale
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on: June 21, 2012, 04:26:17 AM
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So... As I see it the OP has changed this thread's topic 3 times, the first being 1btc reward per bug found on his site to which he never payed out to my 10 found.... Not even a bitpenny after multiple pm's... As I see it currently you most likely won't get the script if payed for... Just squeezing another BTC any way he can...
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291
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Economy / Lending / Re: 60 BTC loan
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on: June 20, 2012, 02:57:34 AM
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yep, i dont know why he didnt come to me any sooner. everything good now.
Owes me a bit over 1 coin. Everything else is fine. I'll let it slide 'cause he brought so much attention here. Loan Repaid in FullSo how much does he owe Senbonzakura now? 15 BTC. His name fits him well. He is being passed around. Lol... and 10million more soon to be passed around  |
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293
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Other / Off-topic / Re: Butterfly Labs ASIC Gear Potential
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on: June 20, 2012, 12:14:26 AM
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Good thing nobody has considered the drop in price of Bitcoins that will happen almost immediately after the ASICs arrive... Remember that this economy is based solely on the supply demand aspect, and bringing so many coins in at once is going to plummet prices. It's like what would happen to let's say the US dollar if the government sent every household $5,000... The price massively deflates as the supply increases.
Supply is 50BTC/10minutes now, and 25BTC/10minutes sometime around December, regardless of hashrate. You don't have clue one when the hash rate increases so does the supply of BTC, if the blocks are being solved every six minutes then you have 500BTC an hour being produced rather than the normal targeted 300BTC. The reverse is also true when you have a diff drop you have less than the 300 per hour being produced. Hey, finally someone gets the idea here... |
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294
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Other / Off-topic / Re: Butterfly Labs ASIC Gear Potential
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on: June 19, 2012, 10:43:25 PM
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Good thing nobody has considered the drop in price of Bitcoins that will happen almost immediately after the ASICs arrive... Remember that this economy is based solely on the supply demand aspect, and bringing so many coins in at once is going to plummet prices. It's like what would happen to let's say the US dollar if the government sent every household $5,000... The price massively deflates as the supply increases.
Supply is 50BTC/10minutes now, and 25BTC/10minutes sometime around December, regardless of hashrate. He might mean that miners have to sell their coins. If they pay BFL with BTC then BFL has to sell coins to get some cold hard cash. Yes indeed. That and the fact that this whole thread has been about how more coins will be produced in a short amount of time than ever before. The difficulty will rise with the bashing power, yes, but that doesn't change the fact that there will be a time in there where BTC flood into the market. Keep in mind that the difficulty is rising to keep up with the hashing power. Not the other way around. |
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295
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Other / Off-topic / Re: Butterfly Labs ASIC Gear Potential
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on: June 19, 2012, 10:26:32 PM
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Good thing nobody has considered the drop in price of Bitcoins that will happen almost immediately after the ASICs arrive... Remember that this economy is based solely on the supply demand aspect, and bringing so many coins in at once is going to plummet prices. It's like what would happen to let's say the US dollar if the government sent every household $5,000... The price massively deflates as the supply increases.
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296
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Other / Off-topic / Re: Butterfly Labs ASIC Gear Potential
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on: June 19, 2012, 03:27:53 PM
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It may have a ton of potential, but even at the prices quoted, the newfound hashing power and difficulty will alienate many of the casual miners who make up a good portion of the mining power to date. It simply won't be worth it anymore to mine for 7 days and get a few bitcents at best.
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