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Author Topic: {BFL} Why The Monarch Might Just Work  (Read 5905 times)
lumpycustard
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August 22, 2013, 09:33:22 PM
 #101

And if it turned out to give you 20BTC but the USD/BTC rate sank to $5?  Clearly some people here will call that a good deal, but others would've preferred the cash.
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August 22, 2013, 09:37:51 PM
 #102

And if it turned out to give you 20BTC but the USD/BTC rate sank to $5?  Clearly some people here will call that a good deal, but others would've preferred the cash.

Yes, 20 BTC is better than 13 BTC and better than 10 BTC. AT ANY AND ALL EXCHANGE RATES.

Buy & Hold
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August 22, 2013, 09:41:47 PM
 #103

And if it turned out to give you 20BTC but the USD/BTC rate sank to $5?  Clearly some people here will call that a good deal, but others would've preferred the cash.

If you are buying an ASIC miner, you have already decided to buy BTC. The question then becomes, what is the best method to acquire BTC?
For every point on the USD/BTC exchange rate, 13 BTC is worth more than 10 BTC and 20 BTC is worth more than 13 BTC. If the device gives you 20, then you would be better off than if you bought a device that gave you 10. You would also be better off than if you had bought the 13 BTC from MtGox and held it.

Now if the exchange rate drops to $5, the problem was that you decided to invest in BTC, even though you may have picked the best way to do so.

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bcp19
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August 22, 2013, 10:11:13 PM
 #104

I would have sold you my 92 Z28 for 400BTC last November.  You can still have it for 400BTC today.  Put up or shut up.

The number of Bitcoins a Z28 is expected to mine over it's lifetime: 0
The number of Bitcoins I must pay for the Z28: 400
My expected loss in Bitcoins if I were to enter in this transaction: 400
No, I do not want to buy your Z28 to mine Bitcoins with. Try again.  Grin
The price I wanted for my Z28 last November equaled 400BTC.  I am simply honoring your insistance that BTC should remain an unchanging currency.  Therefore the price remains 400BTC.  If you would have been willing to pay 400BTC for it last Novemebr, under your current mindset, then you should also be willing to pay the same 400 BTC for it now.

Your unwillingness to indicates you feel you would be ripped off.  Can you explain why you feel that way?

I do not suffer fools gladly... "Captain!  We're surrounded!"
I embrace my inner Kool-Aid.
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August 22, 2013, 10:17:20 PM
 #105

I would have sold you my 92 Z28 for 400BTC last November.  You can still have it for 400BTC today.  Put up or shut up.

The number of Bitcoins a Z28 is expected to mine over it's lifetime: 0
The number of Bitcoins I must pay for the Z28: 400
My expected loss in Bitcoins if I were to enter in this transaction: 400
No, I do not want to buy your Z28 to mine Bitcoins with. Try again.  Grin
The price I wanted for my Z28 last November equaled 400BTC.  I am simply honoring your insistance that BTC should remain an unchanging currency.  Therefore the price remains 400BTC.  If you would have been willing to pay 400BTC for it last Novemebr, under your current mindset, then you should also be willing to pay the same 400 BTC for it now.

Your unwillingness to indicates you feel you would be ripped off.  Can you explain why you feel that way?

I did not say that BTC is an unchanging currency. I said when you buy an ASIC miner you are buying BTC because the only thing that determines the equipment's ultimate worth is the amount of BTC it returns by mining. Those are very different statements.

You want to sell me an ASIC miner called a Z28 for 400 BTC, but your Z28 hasher is expected to mine 0 BTC, so I would never pay 400 BTC for it. If you could demonstrate that the Z28 hasher was expected to mine over 500 BTC, I would consider paying 400 BTC for it.

Bitcoin is backed by the full faith and credit of YouTube comments.
bcp19
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August 22, 2013, 10:37:26 PM
 #106

I would have sold you my 92 Z28 for 400BTC last November.  You can still have it for 400BTC today.  Put up or shut up.

The number of Bitcoins a Z28 is expected to mine over it's lifetime: 0
The number of Bitcoins I must pay for the Z28: 400
My expected loss in Bitcoins if I were to enter in this transaction: 400
No, I do not want to buy your Z28 to mine Bitcoins with. Try again.  Grin
The price I wanted for my Z28 last November equaled 400BTC.  I am simply honoring your insistance that BTC should remain an unchanging currency.  Therefore the price remains 400BTC.  If you would have been willing to pay 400BTC for it last Novemebr, under your current mindset, then you should also be willing to pay the same 400 BTC for it now.

Your unwillingness to indicates you feel you would be ripped off.  Can you explain why you feel that way?

I did not say that BTC is an unchanging currency. I said when you buy an ASIC miner you are buying BTC because the only thing that determines the equipment's ultimate worth is the amount of BTC it returns by mining. Those are very different statements.

You want to sell me an ASIC miner called a Z28 for 400 BTC, but your Z28 hasher is expected to mine 0 BTC, so I would never pay 400 BTC for it. If you could demonstrate that the Z28 hasher was expected to mine over 500 BTC, I would consider paying 400 BTC for it.
It does have over 400 horsepower.  All you need to do is figure out how to get 1.25 BTC worth of mining per horsepoewer and you are set.  Maybe you could develop a drum and use the horsepower to drive the drum and then have the drum turn wheels that calculated hashes and boom. you're set!

I do not suffer fools gladly... "Captain!  We're surrounded!"
I embrace my inner Kool-Aid.
User705
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August 23, 2013, 02:26:14 AM
 #107

I welcome all people who think this way to the BTC world.  BTC is a zero sum game so whatever extra fiat value they waste into BTC makes my holdings worth that much more.
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