Mini Rig announcement by Butterfly Labs - 25gh/s

[bulanula]

Once I can cash in my Gold I am ready to order.

Good luck and pray that you will not find this inside : http://silverdoctors.blogspot.co.uk/2012/03/tungsten-filled-1-kilo-gold-bar.html

Also, why not buy BTC directly using gold or after converting gold to USD if you believe in the cause of BTC and willing to invest $25k in something that is a paperweight outside of BTC ?

I think people are fooling themselves with these boxes in terms of ROI. I am quite sure that when all these 25 ghash/s rigs come online we will quickly get to difficulty above 2 million very quickly.

I don't believe in BTC, only in mining it while it is worth something.

If I spend $15k on BTC and then it drops to $1/BTC then I have forever lost money. BUt with the mini rig at $1/BTC it will still bring $4000 USD per year. So it's a no brainer.

Funnily enough it is exactly this profiteer nature that I think will be the death of BTC come block reward halving and December 2012.

What we need right now is people buying BTC because it has a value ( SR for example ) not people leeching and jumping on the "get rich" train and giving nothing back.

Have it your way

[ice_chill]

Well why giving nothing back ? the more people mine the quicker the transactions will get done and less room for 51% hashing power attack.

Without miners investing into hardware to support the network the BTC will die. I see BTC more suitable for tax/fee avoidance transactions, not investment currency.

[DeepBit]

Well why giving nothing back ? the more people mine the quicker the transactions will get done

Why do you think so ?

[DeathAndTaxes]

Well why giving nothing back ? the more people mine the quicker the transactions will get done and less room for 51% hashing power attack.

1) TX times will always be 10 minutes.  The network adjusts to ensure that.
2) 51% attack isn't economical at 10TH/s.  A non-economical attack is just as viable at 20 TH/s as it is at 10 TH/s.  Now 100TH/s or 1000 TH/s that is a different story but the network won't grow that large without a vibrant economy behind it.

3) Why would Bitcoin die if miners stopped expanding the network?  That doesn't even make sense.

Your funds, your risk but please don't pretend like you are saving Bitcoin.

I would have though someone dropping 15 large on hashing hardware would have at least a rudimentary knowledge of how the network works and the economics behind it.  .... I guess not.

[Keninishna]

Quick question, I don't know if this has been answered before but I've read that the mini rig is modular and can be upgraded? Does this mean BFL will be selling individual upgrade modules? At what cost? and what will the max hasrate and power consumption be?

[BitPay Business Solutions]

So who will be the first to buy one of these with Bitcoins?

[ice_chill]

So who will be the first to buy one of these with Bitcoins?

Problem is that if the company goes bankrupt or disappears then a Bitcoin payment is not traceable and not proof able. And $15k in Bitcoins is too much risk.

A bank transfer can be traced, or if the company is seized then the bank transfer can just be reversed to the original owner.

[BlackPrapor]

So who will be the first to buy one of these with Bitcoins?

Problem is that if the company goes bankrupt or disappears then a Bitcoin payment is not traceable and not proof able. And $15k in Bitcoins is too much risk.

A bank transfer can be traced, or if the company is seized then the bank transfer can just be reversed to the original owner.

If they make their address public and you have your address, then this transaction is in the block publicly available to anyone. That's how I understand it anyway.

[Keninishna]

So no details about modules?

[MPOE-PR]

Funnily enough it is exactly this profiteer nature that I think will be the death of BTC come block reward halving and December 2012.

It IS funny, given that it's probably exactly the other way around: this profiteer nature is BTC's only chance to swim. Everything else sinks.

[BlackPrapor]

Funnily enough it is exactly this profiteer nature that I think will be the death of BTC come block reward halving and December 2012.

It IS funny, given that it's probably exactly the other way around: this profiteer nature is BTC's only chance to swim. Everything else sinks.

Bitcoin works because there is a demand for this currency. currency users don't give a crap how much less you'll be earning as far as the system works. And it will work, because even after halving in December it will be profitable to mine.

[ice_chill]

So how many people have ordered and on what dates ?

[bitcoindaddy]

So how many people have ordered and on what dates ?

https://bitcointalk.org/index.php?topic=67887.0

[jamesg]

So how many people have ordered and on what dates ?

I've ordered the rest. There are no more left...........       

[bitcoindaddy]

I've ordered the rest. There are no more left...........       

You have 17 now, is that right?  If your wife has any towels to dry, she can just hang them in the "hashing" room.

[jamesg]

I've ordered the rest. There are no more left...........       

You have 17 now, is that right?  If your wife has any towels to dry, she can just hang them in the "hashing" room.

Only 15. 

So far.....

[R-]

I've ordered the rest. There are no more left...........       

You have 17 now, is that right?  If your wife has any towels to dry, she can just hang them in the "hashing" room.

Only 15. 

So far.....

No way you ordered 15x $15,000 mini rigs. I don't believe it.

[jamesg]

No way you ordered 15x $15,000 mini rigs. I don't believe it.

15 singles.....

[Fuzzy]

Is the $15,000 required up front, or can a down payment be applied when placing the order, the remaining balance being paid once the unit is completed and ready to ship?

Also, how are repairs handled outside the warranty period? Are extended warranties available?

[ice_chill]

Is the $15,000 required up front, or can a down payment be applied when placing the order, the remaining balance being paid once the unit is completed and ready to ship?

Down payment of $2 (two dollars) should be fine.