You guys really should checkout the other forum. It's been great to keep up to date and have direct contact with the rest of the Drillbit team (not just Barn) especially when BitcoinTalk went down. As Barn mentioned here the other day, all the updates and ongoing discussion with the engineers and the repair guys is happening over there.
To summarize, they think they have a solution bypassing the issue using an added linear regulator and are doing extensive tests now. We're all just waiting to hear back from the AU team.
So it's still not sorted out. Oh well, hopefully it wont be too many more days. I'm wagering next year. They already have them running for a day or two with the linear regulators. Repair teams in EU and US are ready for the say-so from AU... So how much you want to wager?  Any idea on a part number? I'd like to source this. Also, does this mean we no longer need the inductors replaced? (And I guess I can cancel the regulator order) I don't understand why you ordered parts before they had solved the problem? I guess they are not expensive. The parts - inductors and regulators cost 20 and 30 Euro shipping. I will lose 20 Euros for shipping if I return them (here and back). If those parts work and it takes 3 days for shipping for those parts and I have 4 boards, that is around .3 BTC. So, for a 20 Euro insurance policy, I can protect about .3 BTC of "wealth". But it looks like I merely lost on this insurance policy. So, I'd like to source the serial regulators as they seem like they are working so far. Now do you understand?  |
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You guys really should checkout the other forum. It's been great to keep up to date and have direct contact with the rest of the Drillbit team (not just Barn) especially when BitcoinTalk went down. As Barn mentioned here the other day, all the updates and ongoing discussion with the engineers and the repair guys is happening over there.
To summarize, they think they have a solution bypassing the issue using an added linear regulator and are doing extensive tests now. We're all just waiting to hear back from the AU team.
So it's still not sorted out. Oh well, hopefully it wont be too many more days. I'm wagering next year. They already have them running for a day or two with the linear regulators. Repair teams in EU and US are ready for the say-so from AU... So how much you want to wager? Any idea on a part number? I'd like to source this. Also, does this mean we no longer need the inductors replaced? (And I guess I can cancel the regulator order) |
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You might want to move your post to the correct forum.
What forum would that be? This is a Bitcoin thread about bears. What is wrong with it being here? And maybe in addition to complaining you can contribute. I wasn't complaining, I enjoyed your post. I simply think it will lead to more discussion if you place it in the correct forum. A mod moved it, but I disagree with the new location as well. I'll give you a hint: What do bears (as you've used it in this thread) do? My apologies then. Bears eat a lot? Not in the Speculation thread as this is more than just a money topic. Hmmmm.... Question - How does one contact a mod? I mean this is a Bitcoin thread and it is in the off topic forum? That sort of kills things. In the spirit of the thread:  |
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I also think that since litecoins are a ridiculous noninnovation, BTC people should really stop being so smug and move on to mBTC.
It is a shame to be beaten by ltc!
mBTC is definitely in the future. But I also think mLTC is. |
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You might want to move your post to the correct forum.
What forum would that be? This is a Bitcoin thread about bears. What is wrong with it being here? And maybe in addition to complaining you can contribute. apetersson - It doesn't have to be humor, just what I posted. Another reason why I thought the main forum would be nice. Can be a bit of a resource for replying to bears. eheheh IAS |
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Hey George,
How difficult would it be to have a website to vote on things? (e.g. Mining alt coins, etc.) I'm not programmer so am just asking.
Then everyone can see what the vote is, it could be transparent for all I care, then there can be no questions about "How the vote went".
I appreciate your hard work and fast communication along the way,
IAS
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I thought to post some " BTC Bear Food" to quiet the bears down a bit. Can be anything you like: Charts, Stories, Anecdotes, etc. Here is my contribution. Sometimes a picture is worth a thousand words.   |
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Nice work getting them out Barntech.
And wow at 20Gh for each board stock! I was planning on having to overclock to get them there. How high has anyone overclocked these?
IF we are running Raspberry Pi's (as most are) then we can plug 2 boards into each PI since the boards are individually powered?
My CoolerMaster V450S only has 3 Molex connectors though. Any ideas here?
Thx,
IAS
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I'm going to go pm him. Thanks for keeping us up to date on the boards.
Hey, Yes all the thumbs went out last week and should be with you real soon. We have had word of them touching down in NZ and the UK so they're definitely out there. Has anyone in the U.S. received thumbs yet? Techman, i will chase yours tomorrow and see what its status is. As for the boards, both packages mark as having left china see we're on our way. I have been furiously filling out shipping forms so we are ready to roll as soon as they arrive. My room is filled with boxes and bubblewrap . I know Bobsag is also poised and ready on his end. The second these bad boys hit our shores they will be turned around to you guys. Anyone who is about to go away and concerned about packages arriving on time, hit me up and we can sort out a short term hosting thing until you're back. As for Batch 3, it's up in the air at the moment but i'm hoping we can do something, maybe even before Christmas. If you are interested, i have set up this form for expressions of interest. I know how much you guys all love my forms. Jump on there and let me know hoe many boards you might be up for. http://formsmarts.com/form/1cecCheers Barntech Just a big WOW Barntech, This feels great to be so close to my first real miner. And the difficulty might be slowing down it looks like (Knock on wood). A big congrats and good luck, IAS |
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No, it has a static supply of 21M BTC. It's irrelevant whether these have been issued or not.
I understand your point -- that the bitcoins already exist, but they just haven't been released yet. However, you can't value them fully because they are not actually part of the money supply. On the other hand, they do have a present value which is greater than 0. His point *might* be that Bitcoin has a fixed supply that cannot be changed (unless there is a hard fork); thus the money supply is predictable and cannot be altered by third parties. That's one of the *fundamentals* that make Bitcoin very attractive, but that doesn't mean that BTC is currently deflationary: in fact it is the opposite. I'm refuting the mantra some noobs repeat like its some versicle of the bible, implying that the BTC/USD exchange rate is growing "because BTC is a deflationary currency". That's simply false and a silly, oversimplified statement that shows little understanding on the matter: the BTC/USD exchange rate is growing because the demand is exceeding the supply for many reasons, among which the incredible fundamentals and revolutionary aspects of BTC - but that doesn't change the fact that we are currently in a heavily inflationary phase. Plus, what "watchwoord" says is extremely wrong (the inflation rate being irrelevant). We are currently living an inflationary phase - when we reach the deflationary phase Bitcoin will face a huge and uncharted challenge: will the miners be able to cover their costs only by fees? In any case, the inflation rate has a DEEP impact on the economy, it's not irrelevant at all - I guess we all saw how the price skyorocketed after the last mining halving, the bubble started just there. Technically we are in an inflationary phase. Whether it is heavy or light probably depends on how we choose to look at it. What is interesting is that BTC, practically speaking is deflationary right now, as the demand is greater than the supply. So the word "inflationary" to me, might be technically correct, but looking at he huge demand and rising price (if that continues) we will continue to see BTC as essentially deflationary. And judging by the world economic situation continuing to darken, I don't see the deflationary "argument" changing. IAS |
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To all of you panic buying because you missed the "greatest thing ever", mark this post, within 6 months you will be able to buy in much lower, I have a large buy order at $35 (just above the 2011 high).
if this were an established commodity like gold, copper, soybeans, or a currency cross, which I have been trading for 15 years, that is the smart buy point - not at $159
Poor OP, he was never able to buy $35 coins. Yep, $159 was not a smart buy point indeed, the price is now 5 times higher. What a beautiful reminder of a thread. And, in a couple of years (or less) it will be 5X higher than now. ($817 Stamp, so prediction of at least $4085) And the OP is calling for a complete collapse of BTC - https://bitcointalk.org/index.php?topic=338531.msg3644674#msg3644674Diversification isn't a bad insurance policy. IAS |
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Might as well throw in Aporia the Goddess of Difficulty... because if there's ANY God we have to appease, it's her.
"Herakles was making his way through a narrow pass. He saw something that looked like an apple lying on the ground and he tried to smash it with his club. After having been struck by the club, the thing swelled up to twice its size. Herakles struck it again with his club, even harder than before, and the thing then expanded to such a size that it blocked Herakles's way. Herakles let go of his club and stood there, amazed. Athena saw him and said, ‘O Herakles, don't be so surprised! This thing that has brought about your confusion is Aporia (Difficulty) and Eris (Strife). If you just leave it alone, it stays small; but if you decide to fight it, then it swells from its small size and grows large.’"
Bitcoin Difficulty
609,482,680
Next difficulty (estimate): 671,734,448
Well, the difficulty going up 12% is a whole lot better than 30%. I guess we are in a slower growth difficulty wise (Knock on wood) due to a bit of saturation, the last big shipment and many HUGE delays with the bigger miners. Great for us. Looking forward Barntech, IAS |
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I would argue that simply using bitcoin (and not just sitting on it hoping to get rich), is a helpful act in and of itself. You cite a lot of government centric things, but bitcoin use is agorism. Government cannot be fixed, it needs to be eradicated.
I'd agree on some of the other items though, OSS projects are important, as well as crowdfunding startups.
Hoarding/Saving helps the owner more than any one else. Let's not sugar coat the obvious. Your argument of spending sounds essentially like trickle down economics. The benefit is that BTC is more used, a good thing. But if BTC is successful, we won't have to worry about that. Then it becomes another currency, but a deflationary one (and that can be problematic as we are seeing. Not a bad thing, but less likely to be spent.) People can do better than just spending some of their millions on cars, houses, food to help others out. Not that those things are bad in of themselves, they are just "selfish". Of course we will use BTC but those many new millionaires, billionaires, etc. out there can do more to help to make a difference. That is what this thread is about. Governments can't be fixed, to a large degree I agree. Disruptive technology makes them adapt to us though, just as with banking (I hope). And, even though governments are broken, they are essentially us. Pa - Nice idea! |
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We should also support Edan Yago in creating a cryptographic currency political zone, and any other nation trying to free them self from financial terrorism using bitcoin
Incredible suggestion, updated original post with link. Much Thx Its about sharing |
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Living in a capitalistic world, we understandably want to have a certain standard of living and want to obtain more. It is programmed into us. But the thing I don't understand, is that people brag about BTC being a disruptive technology, but I don't really see but a scarce few people talking about using their BTC's to help others, nor to further the disruptive cause, which helps all of us. If you haven't noticed, the world is sort of at a crossroads and needs all the help it can get. If I suddenly had millions of dollars from BTC, I can tell you that most of it would go back to the BTC cause. No doubt about it. No sense in investing in a house as the neighborhood is burning down. I'd like all of you just to consider what BTC represents and how each of you can help to make the world a better place. We have a great Crowd sourcing sort of phenomena in front of us regarding BTC wealth. Let's use it and continue what BTC started. A new form of Philanthropy is among us and growing. Some ideas as far as "donating" some BTC's, lets say 10% or more of your wealth (or more if you don't need million dollar homes), includes (add to the list): Wiki Leaks - They are creating a lot of good disruption these days. They sort of started things in a sense. Causes - Anything that helps people e.g. Sean's OutpostDrug Reform - The war on people, I mean drugs, is an utter failure. It is slowly changing however. Disruptive technologies - BTC development, dark wallet, investments in disruptive technologies in general, etc. Banking reform - to help further change the corrupt system Lobby-ism reformGovernment Reform - At all levels Political activism causesOpen Source Projects that help our cause Edan Yago creating a cryptographic currency political zone - https://bitcointalk.org/index.php?topic=208333.0 Its about sharing |
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How many comments here about helping others?
It is hard to believe that many here will probably be Millionaires and be able to help many people around that.
And indirectly as well, by being disruptive just like BTC.
Don't lose sight of the state of the world.
When BTC reaches an appropriate price, based on my holdings, I think sending BTC's to good disruptive technologies can help finish what BTC started.
Its about sharing
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I wanted to bring up the call Lucano made about that "new pattern" that is seldom seen. It did indeed breakout from the pattern. BTC ran following the close of the 3rd candle (the first time the pattern showed) from around $338 to a high of $902 ish. The last low of the 3 candle setup ended at around $501. Just to have some fun with simple math, and jumping over resistance levels etc , I come up with the following: $902/$338=2.67 $501X2.67= $1337 - our next target high. Just having fun of course. edit - I noticed the negative volume divergence during this recent rise. Normally this would be worrisome, but ever since Gox's withdrawal patterns, it has become less so (any indicators relating to volume actually). Anyway, something to watch.  |
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You must be an absolute fool to believe that 9.2 billion USD actually flowed into Bitcoin. Market cap does not mean the amount of money that flowed into a stock. It is a simple metric, number of outstanding shares times the price. Perhaps think before name calling. Some seem to believe it does. Obviously Ekaros hinted at that by mentioning 'real market cap'. Bitcoin has not enough liquidity to live up to that number of 9 Billion, not even close. That number by 50 is what you could get out if you wanted, maybe. I'm not sure I follow you. If we look at the order book, there is a pretty solid number that we know (how many buyers below, sellers above - though manipulated). There are also orders not on the orderbook - and perhaps they dwarf it. Well, anyway, with all that BTC represents, perhaps it is fair to say that it deserves a HUGE market cap. We have a stock (in the network), asset, currency, protocol, development platform, commodity, etc. all in one. And, it is in the financial sector during a time of crisis. We have a new entity and by all measure, it certainly seems to be moving up in an S-Curve fashion. I would not be shocked in 5 years to see the "market cap" at 1 Trillion USD. But likewise, I would not be shocked (just saddened if the mission was not accomplished or set in motion) if it was lower than now. |
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You must be an absolute fool to believe that 9.2 billion USD actually flowed into Bitcoin. Market cap does not mean the amount of money that flowed into a stock. It is a simple metric, number of outstanding shares times the price. Perhaps think before name calling. |
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