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Once a transaction has 6 confirmations, it is extremely unlikely that an attacker without at least 50% of the network's computation power would be able to reverse it.
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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atcsecure
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August 05, 2013, 12:25:43 PM |
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What about the 8 million worth of chips they should have already shipped?
I will never make ROI at this point
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Join the revolution - XC - Decentralized Trustless Multi-Node Private Transactions
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greaterninja
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August 05, 2013, 12:31:30 PM |
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What about the 8 million worth of chips they should have already shipped?
I will never make ROI at this point
last time I checked it was at least $18 million USD in chips. As far as $200m...thats a lot of money to invest. To do 18-28nm it should cost a few to several million. 100-200m is quite a bit.
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empoweoqwj
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August 05, 2013, 12:39:56 PM |
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Its a vote of confidence for the bitcoin economy. Nobody is going to invest $200M in a mining company unless they think (a) each bitcoin is going to be worth a lot of money and (b) transaction income will substantially supplement (and eventually replace) new coin mining income.
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jspielberg
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August 05, 2013, 12:41:14 PM |
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I thought this had already been debunked as a hoax which suckered some lazy journalists on a sunday when facts are harder to validate.
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Bitcoinorama
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August 05, 2013, 12:48:31 PM |
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It's BS. Andrew Laurus's twitter account, is a shill account spreading FUD about KnC in the third most recent post. Beyond that it is a 15-year old ranting. Also in the initial article it claims Kim Dotcom is following this 'Andrew Laurus', Kim Dotcom is not. Andrew Laurus does not exist and an ex Bond broker for the ill-fated Lehman's Bank that also acted as a supposed senior government advisor during the worst case of financial fraud and miss selling in history is not the right character to be handling the future of Bitcoin. Lehman's mis selling of pre packaged housing debt as bonds was the catalyst for Bitcoin's inception.
The website is a poor landing page registered on Friday, and no journalist has bothered to even google Avalon 200 million before running with the story.
The hoaxster must be pissing himself, and probably wants to flush out Yifu to deny the story...
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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Gator-hex (OP)
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August 05, 2013, 01:02:56 PM |
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I hope it's true, Joe Lewis has a net worth of $4.2bn, says Forbes, so $200m is pocket change to him.
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jspielberg
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August 05, 2013, 01:06:08 PM |
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I hope it's true, Joe Lewis has a net worth of $4.2bn, says Forbes, so $200m is pocket change to him. He would do better to just buy $200M worth of bitcoin. That would 20% of the world's current supply, and over 10% of the worlds supply EVER. In some ways it does show how fragile BTC is.
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Bitcoinorama
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August 05, 2013, 01:10:06 PM |
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I hope it's true, Joe Lewis has a net worth of $4.2bn, says Forbes, so $200m is pocket change to him. He would do better to just buy $200M worth of bitcoin. That would 20% of the world's current supply, and over 10% of the worlds supply EVER. In some ways it does show how fragile BTC is. Anyone investing $200million of their personal fortune would not have our best interests at heart. They would be destroying any legitimate competition for their personal gain and the control of a future money supply.
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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Gator-hex (OP)
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August 05, 2013, 01:14:32 PM |
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I hope it's true, Joe Lewis has a net worth of $4.2bn, says Forbes, so $200m is pocket change to him. He would do better to just buy $200M worth of bitcoin. That would 20% of the world's current supply, and over 10% of the worlds supply EVER. In some ways it does show how fragile BTC is. Anyone investing $200million of their personal fortune would not have our best interests at heart. They would be destroying any legitimate competition for their personal gain and the control of a future money supply. Don't forget this is the currency trader, who along with George Sorros, broke the Bank of England and forced the country out of the ERM (Exchange Rate Mechanism / Joining the Euro). Bitcoin seems right up his modus operandi. He's not afraid to make a bet against a nation and it's central bank!
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Bitcoinorama
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August 05, 2013, 01:18:11 PM |
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I hope it's true, Joe Lewis has a net worth of $4.2bn, says Forbes, so $200m is pocket change to him. He would do better to just buy $200M worth of bitcoin. That would 20% of the world's current supply, and over 10% of the worlds supply EVER. In some ways it does show how fragile BTC is. Anyone investing $200million of their personal fortune would not have our best interests at heart. They would be destroying any legitimate competition for their personal gain and the control of a future money supply. Don't forget this is the currency trader, who along with George Sorros, broke the Bank of England and forced the country out of the ERM (Exchange Rate Mechanism / Joining the Euro). Bitcoin seems right up his modus operandi. FFS man google: Avalon 200 million Andrew Lauraus Twitter Do a Whois search on Phoenixasic.com, look at the quality of the site. Do any groundwork and you'll be doing more than the poor excuse for journalism you are witnessing. You are just contributing to the promotion of this FUD if you are not behind it yourself!
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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Gator-hex (OP)
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August 05, 2013, 02:19:19 PM Last edit: August 05, 2013, 02:56:06 PM by Gator-hex |
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Well the domain ownership is hidden through a 3rd party, never a good sign for a honest venture! If it's a scam anyone using a .com domain will come under US jurisdiction for Mail and Wire fraud. http://en.wikipedia.org/wiki/Mail_fraudIt does seem odd that they say a billionaire has investing $200m then if you go to the web site it asks you to invest in it! I have no idea if it's genuine or not and I'm not connected to it in any way! I thought Wall Street Journal was a reliable source!
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-Redacted-
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August 05, 2013, 02:21:35 PM |
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Can we just let this hoax die already?
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ftping
Full Member
Offline
Activity: 183
Merit: 100
200 OK
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August 05, 2013, 02:23:32 PM |
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Can we just let this hoax die already?
+1. Seriously, you guys are taking this way too... seriously. I could create a fake site titled Yifu's blog and say I'm investing $200m into BFL and you'd all believe me.
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alpet
Legendary
Offline
Activity: 1912
Merit: 1020
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August 05, 2013, 02:31:29 PM |
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IMHO Fake. Why 200 millions... why not billons? How much need sell asics for make ROI > 1? My calculations between 400 and 1000 PH, so we can see first commercial project with 51% attack abilities. Also this hashpower can be used for isolate premained coins (mined in 2009) and blocking their transfer.
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Bitcoinorama
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August 05, 2013, 02:33:57 PM |
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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Loredo
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August 05, 2013, 02:56:17 PM |
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Can we just let this hoax die already?
Actually, sir, I think there's a little to be gained by letting it run a little: it's a great precautionary tale. Totally bullshit amount of money, totally bullshit recipient of the money, and then - the real story surfaces, and evident confusion of names is all too apparent. It just shows that in the world of instant "news," nobody and nothing can be believed initially. Everybody really has to step back, take a deep breath, and see if things smell right. If they smell funny, they probably are.
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cryptograd
Member
Offline
Activity: 112
Merit: 10
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August 05, 2013, 07:08:55 PM |
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ok everybody
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Minor Miner
Legendary
Offline
Activity: 2282
Merit: 1012
Be A Digital Miner
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August 05, 2013, 09:02:08 PM |
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I hope it's true, Joe Lewis has a net worth of $4.2bn, says Forbes, so $200m is pocket change to him. He would do better to just buy $200M worth of bitcoin. That would 20% of the world's current supply, and over 10% of the worlds supply EVER. In some ways it does show how fragile BTC is. How would you suggest he do that? There is no market to buy even $1M of bitcoin since most "exchanges" owe most of their volume to day trading. This is like internet stocks in 99 when an institutional investor would take YHOO up 10% to buy 200,000 shares even though it was "trading" millions of shares per day.
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erk
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August 05, 2013, 09:10:45 PM |
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The WSJ article was BS and has already been retracted, time to close the thread.
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johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
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August 08, 2013, 10:44:35 AM |
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"Andrew Laurus @frankieterrier 11h
received today communication from #joelewis lawyers Alston & Bird LLP Atlanta / re:Phoenix fund will postpone comment until matter settled."
I guess that phoenix fund does exist, and some kind of project is on going anyway
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BitCsByBit
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August 08, 2013, 11:49:25 AM |
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Let's see what Yifu has to say about it tomorrow. You never know, there could still be some truth to it.
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Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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erk
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August 08, 2013, 11:53:27 AM |
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Let's see what Yifu has to say about it tomorrow. You never know, there could still be some truth to it.
Which would be funny if the WSJ has to publish a correction to their correction!
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Bitcoinorama
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August 08, 2013, 12:41:49 PM Last edit: August 08, 2013, 12:53:25 PM by Bitcoinorama |
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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johnyj
Legendary
Offline
Activity: 1988
Merit: 1012
Beyond Imagination
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August 08, 2013, 01:51:19 PM |
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The lehman is the victim of the current financial system since they could not get money from FED in crisis.
I guess anyone from Lehman will fully understand the current system is in the hand of a few money printers, they have the motivation to go for another system
On the other hand, all the central bank beneficiaries will continue as before like nothing happened
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Bitcoinorama
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August 08, 2013, 01:52:48 PM |
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The lehman is the victim of the current financial system since they could not get money from FED in crisis.
I guess anyone from Lehman will fully understand the current system is in the hand of a few money printers, they have the motivation to go for another system
On the other hand, all the central bank beneficiaries will continue as before like nothing happened
But Bitcoin was created in it's aftermath to escape from such fraudulent individuals as they had caused us to loose faith in the system. Make no mistake government officials and central bankers were overseeing this cesspool of corruption, but Lehman's was the most instrumental in causing the financial crash and the reason they needed money was due to the misselling of sub-prime junk bonds and the inability to unload them. The fact they rewarded all their staff massively just before the collapse as well was the kicker.
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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Ytterbium
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August 08, 2013, 07:45:25 PM |
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Lehman was just the first domino to fall. And I doubt this Andrew Laurus guy ever actually worked there anyway.
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greaterninja
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August 08, 2013, 08:59:53 PM |
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spending 200M on asics is ridiculous...
it costs a couple hundred thousand to a few million to make 1 million 65nm asics...
so 200m on this is just FUD.
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Bitcoinorama
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August 08, 2013, 09:16:21 PM |
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spending 200M on asics is ridiculous...
it costs a couple hundred thousand to a few million to make 1 million 65nm asics...
so 200m on this is just FUD.
No more like a tenth of that.
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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kneim
Legendary
Offline
Activity: 1666
Merit: 1000
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August 08, 2013, 09:35:18 PM |
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I asume Phoenix is not stupid. If they are, it's good for us.
If I were Phonix: Tell everybody about 200 millions, but invest only 20 millions. Buy some ASICS with a few millions and mine. Push price with some other millions. Sell mined Bitcoins on high price
Perhaps this works, if Bitcoin does not fail.
They know how to activate the PR machinery.
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-Redacted-
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August 08, 2013, 09:37:35 PM |
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This is a completely debunked hoax. Jesus, could we please just stop adding to this thread and let it die down off the front page?
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kneim
Legendary
Offline
Activity: 1666
Merit: 1000
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August 08, 2013, 09:40:06 PM |
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This is a completely debunked hoax. Jesus, could we please just stop adding to this thread and let it die down off the front page?
Every hoax has a reason, why not speculate about it?
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Bitcoinorama
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August 08, 2013, 09:43:48 PM |
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I asume Phoenix is not stupid. If they are, it's good for us.
If I were Phonix: Tell everybody about 200 millions, but invest only 20 millions. Buy some ASICS with a few millions and mine. Push price with some other millions. Sell mined Bitcoins on high price
Perhaps this works, if Bitcoin does not fail.
They know how to activate the PR machinery.
By lying?! That's a great start. How does lack of integrity from banksters help Bitcoin??
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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kneim
Legendary
Offline
Activity: 1666
Merit: 1000
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August 08, 2013, 09:59:48 PM |
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I asume Phoenix is not stupid. If they are, it's good for us.
If I were Phonix: Tell everybody about 200 millions, but invest only 20 millions. Buy some ASICS with a few millions and mine. Push price with some other millions. Sell mined Bitcoins on high price
Perhaps this works, if Bitcoin does not fail.
They know how to activate the PR machinery.
By lying?! That's a great start. How does lack of integrity from banksters help Bitcoin?? I have learned, that most of Bitcoin lovers are speculators, this making a lot of money through volatility. As an anticylical trader, I can earn money from it. But this high volatility is against the most important thing, a stable and trustworthy investment alternative to fiat currrency. I yet don't know a crypto, that pays attention to this, for using by normal people.
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BitCsByBit
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August 09, 2013, 08:09:57 AM |
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This is a completely debunked hoax. Jesus, could we please just stop adding to this thread and let it die down off the front page?
Avalon has not fully denied the rumour. Just as this matter is reaching its closure. WSJ prints an mashed article consists of rumors, opinions and pieces of various stories. Avalon whilst under NDA(s) are unable to comment on all aspect of the story. We will however state the following: We were indeed in Amsterdam on Tuesday and had a meeting with TSMC and we will leave it at that for now.
Source: http://www.avalon-asics.com/
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Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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Bitcoinorama
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August 09, 2013, 10:28:43 AM |
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The update did not address anything, and I'm sorry I find the threat thing a little unbelievable, since Bitsyncom's design team has already left and publicly stated the fall out and their disdain for the remaining member(s).
There's been no mention of this internal break-up from Yifu that needed clearing.
Indeed customs hold-ups are easy to prove using evidence of official papers and tracking ID's so you can hold Yifu to that excuse.
Was totally correct about the new chips info. There was a meeting in Tuesday as mentioned in the press on Sunday. Some of that was bullshit almost certainly to hype the new investment which is why there will be no pre-orders. Yifu is in bed with Banksters. Your chips are unnecessarily delayed due to internal break-up of Bitsyncom. Almost certainly will be a minimum of 28nm gen 4 to compete with current new wave of competitors. Whether you lot will ever get to see any of those chips long before 'preferential' customers is unlikely.
Burnin' and Terrahash, he's knowingly screwed you over. No apology.
No mention or explanation of the 14.2 million chips photographed by Gridchip, almost certainly there has been dodgy dealing and backhanders as alluded to on this forum.
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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BitCsByBit
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August 13, 2013, 06:24:08 AM |
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- 100GH/S Hash Rate - Shipping within 8-10 weeks of ordering - Plug & Play (pre-configured) - Phoenix Tech ASIC Chips - Lifetime warranty on motherboard & ASIC chips - LED Screen with Real Time Hash Rate
LOL @ 8-10 weeks. I'm sure we've heard that before.
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Tipsy jar: 1HgfLMXiJQj9KZ7abLRh9rWuR7dgeSyub4
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Bitcoinorama
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August 13, 2013, 12:27:35 PM |
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That's a completely different company, although equally as scammy.
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Make my day! Say thanks if you found me helpful BTC Address ---> 1487ThaKjezGA6SiE8fvGcxbgJJu6XWtZp
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