The 21 Bitcoin Computer

[DooMAD]

Good thing the point of these device is absolutely not to earn revenue through mining subsidy

The description of 21 Bitcoin Computer lacks solid vision of its purpose, maybe you could explain what IT-industry niche this device will shine in?

If the concept works, it might create a brand new one.  Think of these devices not as an end product, but both a tool with which to build something and the foundation to build it upon.  If something like this, or a more advanced version down the line, is integrated into various electronics, the result is the 'Internet of Things'.  If it works, that is.

[1715143061]

1715143061

[Come-from-Beyond]

I thought this article did a good job of explaining what these could be...
https://medium.com/@21dotco/a-bitcoin-miner-in-every-device-and-in-every-hand-e315b40f2821

That article is misleading. I would argue on "A new approach to micropayments", "Decentralized device authentication" looks suspicious in the light of 21 Inc. ToS saying that they can collect any data and hand them over to legal authorities, other bullet points don't sound good too...

[brg444]

I thought this article did a good job of explaining what these could be...
https://medium.com/@21dotco/a-bitcoin-miner-in-every-device-and-in-every-hand-e315b40f2821

That article is misleading. I would argue on "A new approach to micropayments", "Decentralized device authentication" looks suspicious in the light of 21 Inc. ToS saying that they can collect any data and hand them over to legal authorities, other bullet points don't sound good too...

How is it misleading?

[smooth]

main problem: people dont understand the vision of that company.

[ ] This is the fault of the (non) customers for being too stupid (or just not psychic enough)

[ ] This is the fault of the company for not communicating its vision effectively.

Needs more info i'll agree but it is preorders and I think this initial round is very developer centric and test bed while they fine tune a more cut down device.. I guess consider it like an occulus rift dev kit?

It was and is easy to understand the vision of OR.

[Come-from-Beyond]

How is it misleading?

Overall impression after reading that article is much better than impression I've got after reading the description of the final product. Dunno why, but I feel sorry for 21 Inc. engineers who aimed such great goals but seem to fail to achieve most of them. For me it looks like there was set a hard deadline and the engineers were forced to release a half-baked product, I believe 3-6 months more and they would come with a much better solution...

Well, I think I'll step back into the shadows and let others to express their disappointment.

[brg444]

main problem: people dont understand the vision of that company.

[ ] This is the fault of the (non) customers for being too stupid (or just not psychic enough)

[ ] This is the fault of the company for not communicating its vision effectively.

Needs more info i'll agree but it is preorders and I think this initial round is very developer centric and test bed while they fine tune a more cut down device.. I guess consider it like an occulus rift dev kit?

It was and is easy to understand the vision of OR.

21inc. project involves a whole new paradigm of machine-to-machine value transfer and integration into IoT.

Now you might think IoT is a gimmick (I did for awhile) but what 21inc. is trying to do brings a whole new aspect to it.

What OR was/is doing was nothing particularly groundbreaking. The execution is but the vision is something people had envisioned for a long, long time.

[monsanto]

Good thing the point of these device is absolutely not to earn revenue through mining subsidy

The description of 21 Bitcoin Computer lacks solid vision of its purpose, maybe you could explain what IT-industry niche this device will shine in?

The Bitcoin Computer is a dev kit. A prototype for engineers and developers to tinker with and develop future use cases. The possibilities are endless, 21inc is not concerned with creating the tools to enable these use cases.

I thought this article did a good job of explaining what these could be...
https://medium.com/@21dotco/a-bitcoin-miner-in-every-device-and-in-every-hand-e315b40f2821

There are simply too many lucrative opportunities for 21inc to be bothered with  .

[brg444]

How is it misleading?

Overall impression after reading that article is much better than impression I've got after reading the description of the final product. Dunno why, but I feel sorry for 21 Inc. engineers who aimed such great goals but seem to fail to achieve most of them. For me it looks like there was set a hard deadline and the engineers were forced to release a half-baked product, I believe 3-6 months more and they would come with a much better solution...

Well, I think I'll step back into the shadows and let others to express their disappointment.

Maybe you just need to accept that this product is not addressed to you or any regular consumer for that matter...?

On the other hand I see a trove of engineers/developers pretty excited about it on Twitter.

[brg444]

Good thing the point of these device is absolutely not to earn revenue through mining subsidy

The description of 21 Bitcoin Computer lacks solid vision of its purpose, maybe you could explain what IT-industry niche this device will shine in?

The Bitcoin Computer is a dev kit. A prototype for engineers and developers to tinker with and develop future use cases. The possibilities are endless, 21inc is not concerned with creating the tools to enable these use cases.

I thought this article did a good job of explaining what these could be...
https://medium.com/@21dotco/a-bitcoin-miner-in-every-device-and-in-every-hand-e315b40f2821

There are simply too many lucrative opportunities for 21inc to be bothered with  .

I realize there was a typo in the post you quoted.

21inc. are creating the tools and building the infrastructure for the Internet of Value.

[isvicre]

I read comments, almost everybody bury this device. If nobody in Bitcointalk wants to buy I wonder who will they sell these for? Almost everybody who use Bitcoin in the world have an account here. People read this thread and decide not to buy.

[21Bitcoinpower]

http://ecx.images-amazon.com/images/I/91aUgUqFTIL._SL1500_.jpg

1. Raspberry Pi 2: $35
2. 128 GB memory card: $75.95
3. Raspberry Pi B+ Power Supply: $6.99
4. Raspberry Pi WIFI Adapter: $8.56
5. Raspberry Pi Cooling Fan: $7.99
6. USB to TTL Serial Cable: $9.95
7. Heat sink: $10
8. 125 gh/s USB miner: $93

The total cost of these components is $247.44.

[brg444]

I read comments, almost everybody bury this device. If nobody in Bitcointalk wants to buy I wonder who will they sell these for? Almost everybody who use Bitcoin in the world have an account here. People read this thread and decide not to buy.

 

Bitcoiners and their entitlement. The world doesn't revolve around you, you know?

"I can't use this thing! It's worthless!"

[Come-from-Beyond]

Maybe you just need to accept that this product is not addressed to you or any regular consumer for that matter...?

You may be right.

On the other hand I see a trove of engineers/developers pretty excited about it on Twitter.

Good, at least 21 Inc. can cover their expenses. Maybe they'll even earn some extra.

[21Bitcoinpower]

I thought this article did a good job of explaining what these could be...
https://medium.com/@21dotco/a-bitcoin-miner-in-every-device-and-in-every-hand-e315b40f2821

So my toaster will draw 50W in standby mining 0.00003BTC a month?

Highlarious!!! 

[Sine(X)]

The price is absolutely incompetitive. Chinese will make it (if this product is good  ) much cheaper - so where is a profit?
To my mind it's a great laundering of money, my condolences for investors.

[21Bitcoinpower]

The price is absolutely incompetitive. Chinese will make it (if this product is good  ) much cheaper - so where is a profit?
To my mind it's a great laundering of money, my condolences for investors.

If you want you can make it yourself for $250.

http://www11.pic-upload.de/22.09.15/h9q84doqv.jpg

1. Raspberry Pi 2: $35
2. 128 GB memory card: $75.95
3. Raspberry Pi B+ Power Supply: $6.99
4. Raspberry Pi WIFI Adapter: $8.56
5. Raspberry Pi Cooling Fan: $7.99
6. USB to TTL Serial Cable: $9.95
7. Heat sink: $10
8. 125 gh/s USB miner: $93

The total cost of these components is $247.44.

[brg444]

The price is absolutely incompetitive. Chinese will make it (if this product is good  ) much cheaper - so where is a profit?
To my mind it's a great laundering of money, my condolences for investors.

This "Bitcoin computer" is obviously not their business model.

[Mr Felt]

The price is absolutely incompetitive. Chinese will make it (if this product is good  ) much cheaper - so where is a profit?
To my mind it's a great laundering of money, my condolences for investors.

This "Bitcoin computer" is obviously not their business model.

Yep.  Not sure if anyone has mentioned this yet, but in further thinking about the biz model (see my last post in this thread), I don't see why this little computer isn't a authorization/subscription service management machine. If customer wants to use X service provided by Y (which might be 21, an affiliate, partner, etc), the customer will need to prove they have authorization to access the service.  Ordinarily, that would be through creation of an account on the company's server, which is hackable.  For 21, authorization to access service X might be a function of a 1 satoshi transaction to the 21 servers from the BTC computer.  So, mining profitability doesn't matter (and neither does storing user info); what matters is a constant supply of satoshis, which supply is generated just by plugging the machine in and mining on the 21 mining pool.  For example, maybe 21 is going to try and compete with Netflix.  If you want to use their streaming service (and Verizon predicted yesterday cable companies will be dead in 10 years, everything will be streaming), you have to use their box which can't be faked b/c it relies on btc transactions on the blockchain.  

EDIT - I remember a 21 presentation at Goldman Sachs a few months ago (I watched the video on the GS website, I don't work for GS).  At the time, they were thinking that their platform would make mining for profit obsolete because everyone would be mining and most transactions would be a fraction of a bitcoin.  BTC Computer seems consistent with what was discussed that day at GS.

[P-Funk]

main problem: people dont understand the vision of that company.

[ ] This is the fault of the (non) customers for being too stupid (or just not psychic enough)

[ ] This is the fault of the company for not communicating its vision effectively.

Needs more info i'll agree but it is preorders and I think this initial round is very developer centric and test bed while they fine tune a more cut down device.. I guess consider it like an occulus rift dev kit?

It was and is easy to understand the vision of OR.

21inc. project involves a whole new paradigm of machine-to-machine value transfer and integration into IoT.

Now you might think IoT is a gimmick (I did for awhile) but what 21inc. is trying to do brings a whole new aspect to it.

What OR was/is doing was nothing particularly groundbreaking. The execution is but the vision is something people had envisioned for a long, long time.

Your shilling couldn't be any more obvious. "Whole new paradigm" HA!

[brg444]

main problem: people dont understand the vision of that company.

[ ] This is the fault of the (non) customers for being too stupid (or just not psychic enough)

[ ] This is the fault of the company for not communicating its vision effectively.

Needs more info i'll agree but it is preorders and I think this initial round is very developer centric and test bed while they fine tune a more cut down device.. I guess consider it like an occulus rift dev kit?

It was and is easy to understand the vision of OR.

21inc. project involves a whole new paradigm of machine-to-machine value transfer and integration into IoT.

Now you might think IoT is a gimmick (I did for awhile) but what 21inc. is trying to do brings a whole new aspect to it.

What OR was/is doing was nothing particularly groundbreaking. The execution is but the vision is something people had envisioned for a long, long time.

Your shilling couldn't be any more obvious. "Whole new paradigm" HA!

So you don't consider machine-to-machine transactions a new paradigm?