Or you can wipe your a$$ for a couple of months, although not sure if they're that comfortable.

Anyways, I completely agree with Mageant definition of intrinsic value.

The interesting thing is that the intrinsic value is usually waaaay lower than the face value, therefore does it really matter? In case of a complete crash you could wipe your a$$ with your stash of $100 bills but compared with what they could have bought before the crash. Is it any comfort in having that "option"?

Same thing with Bitcoins ... they have 0 value if no more electricity or system crashed but even if I could get something out of them it, the intrinsic value would be insignificant compared to face value.

Intrinsic value? Meh, whatever ...

Because they're in the business of manufacturing devices, designing new ones, etc. Not in the business of Bitcoin mining.

There is however one manufacturer that is in both businesses: ASICMINER. All ASICs produced by them will be used for their own "mining company".

In case you didn't notice I'm somehow agreeing with you in the fact that people will get a shock when the difficulty will spike and they will have to redo their calculations. The ASICs won't be paying themselvse back in 2 weeks or 2 months ...

That's why we need more posts like this, so people don't pre-order more

However this is called "keeping up with the Joneses" or "staying in mining" or whatever you want to call it and not being scammed. Scammed is if BFL takes all the money and dissapears.

I think we need more threads like this one. ASICs pre-orders folks could use some FUD so that when the ASICs are delivered, they make (more) money. Yes, I pre-ordered one. </sarcasm>

Isn't the pools hashrate pie chart going to tell us if that happens?

I heard about Bitcoin when those dudes asked 1 mil in Bitcoin from Romney.

Ok, maybe fake is not the right word to describe it. I was saying orders that didn't go through (buyer changed his mind or just wanted to see what the number was at that point in time) but the order number incremented anyways.

Acording to BFL_Josh I would cut that BFL TH output in half due to a lot of fake orders.

Still, I agree that it doesn't look like a "sure thing" money for people that will order after and even for people that pre-ordered.

For mathematical purposes consider for example the 50-60 mil option as 50 - 59,999,999 ...

@moincoin

All the investments are made in BTC, all revenue will come as BTCs, all net profits payments made are in BTC therefore the exchange rate is irrelevant.

However, part of the revenue will have to be converted into USD to cover monthly expenses that can't be paid in BTC. The exchange rate will only play the role of how big that percentage is thus dictating the actual net profit values compared with total revenue.

@Stephen
Been in that wiki but didn't notice there is actually a Contingency plan section. I would like to quote a few lines for folks reading this thread

I don't.

The same article says


When using Bitcoin or gold/silver as currency, you don't have unlimited supply even if your life depends on it. Because of the algorithm, miners need to do the work to get new coins and same thing goes for gold coins; someone has to actually go, dig, process and mint the metal into coins.

Are there any contingency plans in case of a 51% attack?

I mean what do we do? Find out who's owning the IPs and hire al-Qaeda to suicide bomb them? lol

Now seriously, what do we do? Do we stop all transactions until the attack is over? Just lay down and let the Bitcoin idea die?

Where is scarcity? Or in other words, a limited quantity and being hard to get more.

You're right. Sorry, I was under the impression is the other thread with the factory visit.

There is a poll on their portal forum with a "final" list of candidates. I assume that Josh is waiting for that poll to close to announce the person.

GHs much? lol.

I ain't producing bitcoin at this momemnt (ordered some ASICs) but I plan to at least sell some coinage to cover electricity costs and equipment depreciation once the gear arrives.

That's what I would like to "speculate" about with my fellow forumists here. From a ROI perspective, in the medium term, getting a rig that offers more Gh/s/$ is better than getting one that is offers more Gh/s/W. However, in the long run, both devices will pay off their initial costs and then the Gh/s/W will win.

What should we do if we don't have money to buy the best of both worlds? Will you bet on the long-run horse (Gh/s/W) or the short-medium run one (Gh/s/$)?

How high would the difficulty have to rise to change your mind?

Got it. Thanks for the screenshot.