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1021  Bitcoin / Hardware / Re: Avalon batch [2] countdown! on: June 25, 2013, 07:22:26 PM
The DHL man parked in front of my house for 20 minutes last night. Got my hopes up. He started up my stairs with a small box in his hands. Cry

Well at least I know they know where I live now...

Dude!  Make him hot coffee and cookies, go say "hi!"
1022  Bitcoin / Bitcoin Technical Support / Re: 3 blocks in 14 minutes by same guy??? on: June 25, 2013, 03:29:17 PM
It is also possible that 61.164.151.77 is a very well connected full node and relays other miner's blocks first so don't treat blockchain.info data as an ultimate oracle of Truth.
The web page there says F2Pool.

That doesn't preclude the possibility that they are also a well-connected node that would make them appear as if they mined blocks that were mined by a different miner.

I'm also looking at the large number of freshly mined coins sent to their address.  They have apparently mined 30 or 40 blocks since May.
1023  Bitcoin / Bitcoin Technical Support / Re: 3 blocks in 14 minutes by same guy??? on: June 25, 2013, 12:11:00 PM
It is also possible that 61.164.151.77 is a very well connected full node and relays other miner's blocks first so don't treat blockchain.info data as an ultimate oracle of Truth.

The web page there says F2Pool.
1024  Bitcoin / Bitcoin Technical Support / Re: 3 blocks in 14 minutes by same guy??? on: June 25, 2013, 12:29:18 AM

with perhaps 200 blocks since 2013-05-05

This link also looks like a pool.
1025  Bitcoin / Bitcoin Technical Support / Re: help, bitcoin transfer sent, 3 blocks passed and still no confirmation on: June 24, 2013, 07:05:46 PM
You can see the queue position is 631, and it's predicting it'll be included in 19 minutes (2 blocks).  Higher priority transactions will bump you up.  But it'll go eventually, shouldn't take more than an hour I'd hope.

Where can I see the queue position?
1026  Economy / Computer hardware / Re: [WTS] Avalon ASIC Batch #2 Income Sharing, auction partially ends; block 235,532 on: June 24, 2013, 06:52:09 PM
Quoted for your information.


We address these issues in the legal subforum, mostly. 

In sum, there are two regulatory regimes that govern most bitcoin businesses: Money Transmission and Securities:

Money transmission is regulated on the state and federal levels.  The federal level is straightforward.  Miners (who convert to fiat) and Exchangers (who buy or sell BTC as a business) are considered "money transmitters" by FinCEN, the government agency that administers the Bank Secrecy Act.  These businesses must register with FinCEN as money services businesses, and design and implement Anti-money laundering (AML) and Know your Customer (KYC) policies.  The state level is more complex.  Any state in which your business solicits customers or transacts business - whether or not your business is physically located there - will require a license in that state.  These licenses are expensive and time-consuming.  Also, they are not granted automatically; money transmission is a privilege under most states' laws, not a right.

Securities are regulated on the state and federal levels as well.  Most of the perpetual mining bonds and "shares" of "companies" being sold in the securities forum here on the boards are unregistered, restricted securities.  They also don't provide the kinds of disclosures that issuing companies are required to provide.  That's lawyer talk for "illegal".  These issuances would likely be legal, if their issuers would file the appropriate paperwork to comply with the rules.  Unfortunately, there is not enough money involved yet to make a lawyer worth it.  Until then, it's casual securities fraud.

The foregoing was a very general explanation of the regulatory regimes that apply to BTC businesses.  If you have more specific questions, I would suggest looking into the legal subforum.  There is a lot of very granular detail in the posts there.  Hope this helps!
1027  Bitcoin / Hardware / Re: [AVALON] - I got my ASIC Thread (Batch #2) on: June 24, 2013, 03:07:15 PM
Got mine. Working, hashing. Smiley

No beer for you :-)
1028  Bitcoin / Hardware / Re: BitSyncom, will all the chip orders ship together? on: June 24, 2013, 11:49:50 AM
Yifu, you have claimed now and again that you don't control that address. Why don't you be more transparent about your business and come forth with a better explanation. Who controls that address? Can you prove that you don't control that address? Why should we believe you when you say that you don't control that address?


How can I prove that I don't control that address?

1029  Economy / Computer hardware / Re: [WTB] Income shares buy-back, Avalon Batch #2 on: June 24, 2013, 11:00:55 AM
REALLY. So you spent 3000000000000000000000000 posts explaining a ridiculous auction system, ran it over 6 weeks while holding other bidders funds 'in case they win', and now you're simply buying them back?

No.
1030  Bitcoin / Hardware / Re: [AVALON] - I got my ASIC Thread (Batch #2) on: June 24, 2013, 01:52:14 AM
I report here that I still get nothing till now. No machine, no phone call and no mail.

I wish I had my Avalon before now, and I will take actions that I can envision to have my Avalon delivered sooner.

But I have to ask you, what do you hope to accomplish by these posts?

1031  Bitcoin / Hardware / Re: Avalon ASIC users thread on: June 23, 2013, 11:14:20 PM
... Basically i've told the Mrs to ask me before she does anything with electric........ like cook, make a cup of tea, shower.... anything has to be checked with me first Smiley

What is plan B?
1032  Economy / Computer hardware / Re: [WTB] Income shares buy-back, Avalon Batch #2 on: June 23, 2013, 10:52:43 PM
Current asks:
Code:
price ; Nr. of shares ; buy-back address

1.3 ; 1 ; 1AH5ZBVZEhQ7vdEFLaUiaa5JKC2n4wsZk7  (via PM)

1033  Economy / Computer hardware / Re: [WTB] Income shares buy-back, Avalon Batch #2 on: June 23, 2013, 10:38:25 PM
After I bought the Avalon and started the sale of shares, there has been some interaction between some authorities and various Bitcoin entities.  This has included the closing of bank accounts and lack of access to funds.  I also note without additional interpretation that there were inexplicable DoS attacks on several exchanges just prior to the bank account closings.

Today a posting disclosed that a cease and desist order was delivered from the State of California to The Bitcoin Foundation.  This posting has prompted me to make an announcement in my original auction thread.

I have decided to extend this buy-back so that anyone who has a pessimistic interpretation of events has a chance to back out, no questions asked.

So, similar deal as in post #1.  Send me a PM or post here that you want to sell your shares.  After block 244,687 is mined, whatever that date-time stamp, I will match y'all's lowest buy-back ask against my lowest sufficient buy-back bid, pay your ask amount, retire that (bid, ask, nr of shares) triple, and repeat until no more matches can be made.

Here are the numbers for my 10 bid orders.  I am using an auction to compensate you for the time that your bitcoins have been tied up, but to also give a sense of urgency and price competition.  I am using bid amounts that other people made in a similar auction to set realistic starting values.

I apologize in advance, but I think I have to offer PM to protect privacy to the cautious.  The result of that is there could be swooping bids at the end and not enough time to disclose them.  I don't know any solution to that dilemma.

Final auction results.  These 10 accounts each own 1 share (1%) of the Avalon's output.

  • 1.4021 ; 1
    1.402 ; 1
    1.4015 ; 1
    1.401 ; 1
    1.400001 ; 1
    1.40000001 ; 1
    1.265000000 ; 1
    1.23359794 ; 1
    1.21410000 ; 1
    1.21100000 ; 1
1034  Bitcoin / Legal / Re: Bitcoin Foundation receives cease and desist order from California on: June 23, 2013, 08:18:02 PM
Two decades ago I attended a professional conference in San Francisco, and afterward I took my daughter to see the museum in the old mint building.  At that time, i was interested in the definition of a hard currency and noted in particular that there were some currencies from Utah on display that were backed by salted pork, and other various currencies, issued by independent banks or businesses.

One of many differing stories tells of a time when the Bank of Hibernia in New Orleans issued a bank note printed in French and English: different people would identify one side or the other as the front.  The French side said "dix" and the economic zone defined wherever this note was freely accepted in trade was Dixie.

It is almost certainly an interesting piece of trivia to anyone interested in Bitcoin to know about the transition from independent banks issuing bank notes to the current centralized situation.

I think that a well researched and widely comprehended understanding of this situation would add valuable perspective to Bitcoin discussions.
1035  Bitcoin / Hardware / Re: Avalon ASIC users thread on: June 23, 2013, 06:38:36 PM
Blew my main fuse........ engineer on way, fun times ahead explaining why I pull so much power.....

How much power?
1036  Economy / Computer hardware / Re: [WTS] Avalon ASIC Batch #2 Income Sharing, auction partially ends; block 235,532 on: June 23, 2013, 06:22:33 PM
There is some new opinion that miners may, under some set of circumstances, be considered a Money Service Business (MSB) and require registration.  As a Ph.D. there is absolutely no way I can say oh, I didn't know,  ignore the issue, and expect freedom from trouble.  

One set of opinions is that, when only bitcoin is involved, mining is clearly not a MSB.
Another set of opinions, based on a 2nd FinCEN advisory document, is that any miner may be a MSB.
Informal regulator comments, documented elsewhere in bitcointalk, say that the regulators ultimately intend to classify miners as MSBs regardless of the advisories to date.

I have read the two FinCEN documents that I am aware of, and I find the 2nd document in some contradiction with the 1st.  Especially in view of this contradiction and my lack of specific expertise I think it would be foolish to form and act on my own opinion without receiving expert advice.

In addition, it seems that the bitcoin foundation has recently received a cease and desist order from the State of California.  I don't comprehend any justification whatsoever for this order, but nonetheless the order exists.

I have been careful to keep all transactions, actual and promised, strictly limited to bitcoin and not involve USD or other fiat, and also not to involve other cryptocoins.  In addition, my policy has been to make payments strictly to the bitcoin address that originally paid; I did violate this in a transaction early in the auction, but I think this is self documenting and an isolated incident and not a pattern of behavior.  This further strengthens my defense against a claim of being a money transmitter, a particular category of MSB that is under intense scrutiny in the bitcoin environment.  Our transactions will all be visible on the block-chain so our transparency is high and the transactions cannot be altered.

I have put out feelers to learn the cost of a legal analysis of my specific situation for my Avalon and the relationship to each of you.

You may wish to consider your future preference in the event that I call for you to submit identifying documents signed with your payout address.  

In general, I will conform to any applicable paperwork requirements.  In addition, I will be cautious about making or retaining subversive or seditious comments in this thread.  

In very broad terms, that conformance may consist of
  • producing documentation
  • ceasing operations
  • partnering with another entity
It is good strategy to plan for the most pessimistic decision pathway.  Along those lines, it is foreseeable that I must collect identifying information and that some shareholders do not provide it in a timely manner.  In this pessimistic scenario, I will not pay dividends to them, and will return the original buy-in amounts to their payment addresses.  This will be a last-ditch & least preferred choice.

My established management style is to take care of situations through good communication, voluntary actions, or natural attrition whenever possible.  The hope is that everyone remains satisfied (Hah! This is Spartica bitcoin).  Toward that end, I again mention the buy-back that was announced in the previous post in this thread.

March 18 item and public commentary.
1037  Economy / Computer hardware / Re: [WTS] Batch #2 Avalon ASIC Income Sharing on: June 23, 2013, 05:08:13 PM
Thank you very much ProfMac for running this auction. We all learnt a lot!

Thanks.  It was indeed an interesting ride.

1038  Bitcoin / Hardware / Re: [RELEASE] Avalon Reference on: June 22, 2013, 06:58:41 PM
Let the hardware dev shitstorm commence!!!

Downloading altium viewer now  Sad

I just registered for the altium viewer.
Has anyone made a CadSoft EAGLE version of these documents?
1039  Bitcoin / Legal / Re: Everyone Panic. There's a lawyer among us. [FinCEN Walkthrough on p2] on: June 22, 2013, 02:45:43 AM
What MSantori has posted is pretty much in line with what my attorney has said as well.  Since I can't afford the MT licensing, I've had no choice but to dissolve my bitcoin-selling business, in spite of being fully registered with FinCEN.  Sad times.  Sad

What approximate level of money does "can't afford" involve.


Hi profmac.  There is a post at the bottom of page 3 of this thread that lays this out.

Thanks.  I've now read the entire thread, and deleted my post.
1040  Bitcoin / Development & Technical Discussion / Re: What exactly is the reason bitcoin processes transactions so slowly? on: June 21, 2013, 07:22:00 PM
Alright, so maybe Bitcoin clears faster than any other financial mechanism ever, then Smiley
Gold coins in person.
Senior, I notice that you are burdened by a heavy load of gold coins.  Perhaps I can help you with them?
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