Bitcoin will be at CES2013 (Official Thread)

[Raoul Duke]

Good call Phinn and if that number is accurate that includes revenue from 1000+ other clients.

The $3million value comes from a Bitpay Press Release.
http://www.marketwatch.com/story/bitpay-to-expand-bitcoin-processing-space-with-510000-funding-round-2013-01-07

Over the past year, BitPay has seen transaction volume accelerating with average quarter-to-quarter growth of 50% over the past four quarters. The total dollar value of all orders processed by BitPay in 2012 is over $3 million, and all orders were paid using bitcoin. Bitcoin is the innovative digital currency that is being adopted worldwide.

[1714879749]

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[1714879749]

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[the_thing]

Bitconica
Intersango
Bitmarket.eu
They are not US companies.

I stand corrected.

I'm sure you could start you own fraudulent/mismanaged company in your country too.

Good Luck

My country is an oligarchical semi-feudal bureaucratic shithole with complete lack of venture capital. Believe me, it is much easier to start any company in 'Murrica, even a fraudulent one.

[BCB]

Bitconica
Intersango
Bitmarket.eu
They are not US companies.

I stand corrected.

I'm sure you could start you own fraudulent/mismanaged company in your country too.

Good Luck

My country is an oligarchical semi-feudal bureaucratic shithole with complete lack of venture capital. Believe me, it is much easier to start any company in 'Murrica, even a fraudulent one.

the_thing

You don't need venture capital to start a highly successful, fradulent bitcoin business.  Ask Trendon Shaver.

You've got to get creative.

Create a mysterious persona or somewhat nefarious persona. 
Come up with a magical way to make money that you can't fully reveal or doesn't really exist.
Profit handsomely
Get hacked/default/disappear
Avoid any prosecution
rinse and repeat.

[the_thing]

the_thing

You don't need venture capital to start a highly successful, fradulent bitcoin business.  Ask Trendon Shaver.

You've got to get creative.

Create a mysterious persona or somewhat nefarious persona. 
Come up with a magical way to make money that you can't fully reveal or doesn't really exist.
Profit handsomely
Get hacked/default/disappear
Avoid any prosecution
rinse and repeat.

To be honest, I have already tried to raise some capital on bitcointalk, but people didn't want to invest with me just because my business plan was a little illegal. I understand their objections, but I find it sad nevertheless. At least my plan wasn't a scam, god damn it! I seem to lack the skill to persuade people to give me their money.

[lucif]

You just don't offer them true. Offer them a dream. There are a lot if kid idiots here.

[lucif]

Here is a rich field of goofs in a country of fools.

[BCB]

From forbes.
http://www.forbes.com/sites/jonmatonis/2013/01/07/largest-bitcoin-payment-processor-raises-510000-angel-round/

"Since the November 2012 WordPress deal, BitPay has seen new merchants increase by nearly 50% to over 2,000. The total dollar value of all bitcoin transactions processed by BitPay in 2012 was over $3 million, which represents average quarter-to-quarter growth of 50% over the past four quarters for transaction volume."

At that rate it breaks down to:

EDIT:

Q1   187,500 USD
Q2   375,000 USD
Q3   750,000 USD
Q4   1,500,000 USD

1 Month of Q2 and all of Q3 before BLF missed its shipping deadline could represent at most  $2M aprox. $1M USD in BLF pre-sales (plus any buyers who placed orders in Q4).

[greyhawk]

In addition to the rocks, every other booth was practically E-cigarettes or Wireless Speakers.  Seriously... how many of these things does the planet need?  If CES is any judge, the only people without these two necessities of life will be the dead (although I suspect there is a movement to include wireless speakers in coffins with an iPod dock on the headstone so can rock out with your dearly departed) and those born without mouths. 

That would be because your booth is at the Venetian. You know, where they put the absurdities and weirdos so they don't pollute the real CES at the LVCV.

[mobodick]

Being produced? You realise that it takes a long time to produce them, right? This means that if the initial batch doesn't work (annoyingly high chance), it takes a long time to get the second batch. If that doesn't work either, you're forced to delay the shipment for a third, etc.

You are talkng out of your ass.
Before ANY production runs (of ANY electronic device) are made the design is already completely prototyped and working.
No person in the world will run a production batch of an untested unprototyped design.
It would be a complete waste of money because it is almost 100% sure there will be some form of design error.
You can only start making predictions about the time it takes for one batch IF you have a working prototype and your product is quite finished.
THEN and only then do you invest money in an actual production run.
The BFL delivery dates don't add up. They must know fully well that their 'dates' were unresponsibly optimistic. Furthermore it appears they are fully depending on some 3rd party for their product since they say they will deliver soon but still have no prototype. This propably also means that the 3rd party they take the product from still has to do all the testing phases etc before they can produce a batch.
If their claim that BFL designed the chip themselfs is true then i don't think it is financially possible to run a batch without first going through several revisions which implies several more or less working prototypes.
Since BFL doesn't have a working prototype (or at least are unable or unwilling to show it) you can SAFELY assume they are not ready for a real batch of any size.

So for now BFL has given no reason whatsoever to trust that they will deliver anytime soon.
In any case, BFL claims they have extra special super experience with delays from the FPGA batches and have therefore claimed that they will, for sure, deliver in october 2012.
It is now January 2013, BFL showed an empty case on CES and they still haven't got a clue when exactly they will deliver.
This just means they have no control whatsoever about the process. They have shown that the dates they mentioned were meaningless.
One could even say their shipment dates are outright lies because they were never realistic in the first place given the fact that there is no prototype.

[lucif]

Btw, Bitpay accepts 0-confirmation transactions

https://bitcointalk.org/index.php?topic=136017.0

Now all scam them with fake paymetns!

[Inaba]

Chairman Byron Micon has unveiled another scam.

1) when will the chips be shipped?

2) how much have you taken in preorders?

answer, or you will anger the annamicon.

Oh noes!  Not the annamicon!  Imma run and hide, it's scuurrry!

[MPOE-PR]

It surprises me how much money can be handled by such incompetent managers and/or scammers.
I think I'll start a business in the US.

Bitconica
Intersango
Bitmarket.eu

They are not US companies. I'm sure you could start you own fraudulent/mismanaged company in your country too.

Good Luck

He like...has a point. I'm blown away.

Bitconica
Intersango
Bitmarket.eu
They are not US companies.

I stand corrected.

I'm sure you could start you own fraudulent/mismanaged company in your country too.

Good Luck

My country is an oligarchical semi-feudal bureaucratic shithole with complete lack of venture capital. Believe me, it is much easier to start any company in 'Murrica, even a fraudulent one.

Are you like...in Romania?

You are talkng out of your ass.
Before ANY production runs (of ANY electronic device) are made the design is already completely prototyped and working.
No person in the world will run a production batch of an untested unprototyped design.

Hi Mobo. So sorry to have to say this but...well...contrary to what anyone could have imagined before, someone allegedly did do exactly that (of course talk is cheap and claims easy for scammers, but still).

If their claim that BFL designed the chip themselfs is true then

It would be the first claim they made that's actually true. Not very likely.

BFL is a marketing company (and an incredibly poor one, in many aspects). Their business is keeping those Google ads up and siphoning the incoming money into more or less safe holes. Everything else is everyone else's problem.

[the_thing]

I'm sure you could start you own fraudulent/mismanaged company in your country too.

Good Luck

My country is an oligarchical semi-feudal bureaucratic shithole with complete lack of venture capital. Believe me, it is much easier to start any company in 'Murrica, even a fraudulent one.


Are you like...in Romania?

No, but relatively close.
I know a few Romanians, though. They taught me how to greet a Romanian girl. I'm supposed to say 'sugi pula'. If she refuses, I'm supposed to reply 'fututi morti mati'  

[notme]

I'm sure you could start you own fraudulent/mismanaged company in your country too.

Good Luck

My country is an oligarchical semi-feudal bureaucratic shithole with complete lack of venture capital. Believe me, it is much easier to start any company in 'Murrica, even a fraudulent one.


Are you like...in Romania?

No, but relatively close.
I know a few Romanians, though. They taught me how to greet a Romanian girl. I'm supposed to say 'sugi pula'. If she refuses, I'm supposed to reply 'fututi morti mati'  

Google translate doesn't quite handle the second one... something about fucking something dead.

[SgtSpike]

Being produced? You realise that it takes a long time to produce them, right? This means that if the initial batch doesn't work (annoyingly high chance), it takes a long time to get the second batch. If that doesn't work either, you're forced to delay the shipment for a third, etc.

You are talkng out of your ass.
Before ANY production runs (of ANY electronic device) are made the design is already completely prototyped and working.
No person in the world will run a production batch of an untested unprototyped design.
It would be a complete waste of money because it is almost 100% sure there will be some form of design error.
You can only start making predictions about the time it takes for one batch IF you have a working prototype and your product is quite finished.
THEN and only then do you invest money in an actual production run.
The BFL delivery dates don't add up. They must know fully well that their 'dates' were unresponsibly optimistic. Furthermore it appears they are fully depending on some 3rd party for their product since they say they will deliver soon but still have no prototype. This propably also means that the 3rd party they take the product from still has to do all the testing phases etc before they can produce a batch.
If their claim that BFL designed the chip themselfs is true then i don't think it is financially possible to run a batch without first going through several revisions which implies several more or less working prototypes.
Since BFL doesn't have a working prototype (or at least are unable or unwilling to show it) you can SAFELY assume they are not ready for a real batch of any size.

So for now BFL has given no reason whatsoever to trust that they will deliver anytime soon.
In any case, BFL claims they have extra special super experience with delays from the FPGA batches and have therefore claimed that they will, for sure, deliver in october 2012.
It is now January 2013, BFL showed an empty case on CES and they still haven't got a clue when exactly they will deliver.
This just means they have no control whatsoever about the process. They have shown that the dates they mentioned were meaningless.
One could even say their shipment dates are outright lies because they were never realistic in the first place given the fact that there is no prototype.

Let's see...

If I'm BFL, and working to try to get chips to customers, would I rather spend $100k on a 3rd full run of chips (after supposedly all of the problems from the first two batches have been fixed), hoping that they work properly, or would I rather spend $10k on prototype chips so that I can test first, risking $3M in preorders by forcing customers to wait ANOTHER 4-6 weeks for a full production run?

$90k sounds like a reasonable cost when you're talking about the risk of potentially hundreds of thousands of dollars of preorders being cancelled and sales shifting to other companies.

ASIC is all about who is first to product.  $100k is almost a drop in the bucket to get the products ready to ship ASAP.

[Littleshop]

Btw, Bitpay accepts 0-confirmation transactions

https://bitcointalk.org/index.php?topic=136017.0

Now all scam them with fake paymetns!

Bitpay gives the merchant the option to accept them as far as I know.  You can set to three different levels of security in case you are worried.  While I have not received a notice, if you do take a 0 conf you will get a notice if a double spend was done.  If you are shipping a physical product any setting should be safe as you will know shortly after that there was a problem.  If you are delivering an electronic product 0 conf is probably not a good idea.  It is your choice. 

[lucif]

Yeah its a good idea to hint merchant lowest level of security. Its a good idea to advertise with huge font "NO PCI COMPLIANCE" on their CES ad (e.g. no security).

Most of Bitpay merchants I saw using 0-confirmation scheme.

Bitpay: are you from mars, eh?

What a sloven payment processor.

[tbcoin]

Yeah its a good idea to hint merchant lowest level of security. Its a good idea to advertise with huge font "NO PCI COMPLIANCE" on their CES ad (e.g. no security).

Most of Bitpay merchants I saw using 0-confirmation scheme.

Bitpay: are you from mars, eh?

What a sloven payment processor.

You hate all bitcoin bussines??

[lucif]

No. I hate lack of security and responsibility.

Actually what is killing bitcoin price?

1. Mtgox hack in June 2011
2. Bitcoinica hack/scam
3. Pirateat40
4. glbse

And now Bitpay with BFL crew.

How long this will continue? I like to kill them, not Bitcoin.

If we see a responsible secure bitcoin payment processor - I will shake it hand.

But we have slovens here so far.

[lucif]

People outside Bitcoin community whatever they hear about Bitcoin - its a hack, scam, theft, criminal. Look at google trends with news marks.

And these slovens killing Bitcoin - NOT ME.

I just troll them to show their real face. They kill trust in Bitcoin.

I am not an enemy, I just say truth. Just enough slovens.

Bitpay directly connected with BFL crew scam - even on their ad in CES. Allright. Lets teach them responsibility for their actions.