MOORE: Mining Bond Beating the Moore's Law (Collecting Shareholder Data)

[friedcat]

Friedcat: I am sorry for my misunderstanding of your bond.

From a long term point of view, I am also worrying some risks in China. As you plan to install more miners, in China, I am wondering how will some governments or departments treat the equipment and electricity.

That's OK. And the concern of me being in China is also very reasonable. I will try to explain it.

1. From the legislation point of view, the Chinese government doesn't ban virtual currencies and commodities, but they only allow a single-sided circulation. For example, a game company can sell their virtual currencies for fiat, but players could not redeem them back as fiat again. This means that things like Bitcoin exchanges are in a illegal, or at best, grey area, in China. Bitcoin itself is fine, so is Bitcoin mining.

2. In the reality, legislation and laws in China are not as respected as in western countries. Orders and policies from the executive administrations matter more. Laws could be easily changed, and in most of the time, the government does not need legislation support to do evil things. But consider that the Chinese government is as slow and bloated as other fellow post-totalitarian ones in history, brand new inventions like Bitcoin is too tiny, too agile, and too beyond-of-its-imagination for it to identify. It has got too many other "bigger" and "more serious" problems to worry about.

3. In China, there are many things that are both illegal in principle and thriving in practice. Pornography, prostitution and gambling are all good examples. In fact, if you strictly follow all the laws and regulations, you could virtually do nothing at all. Almost all companies and enterprises evade taxes, or they can not survive for even a single day. Almost all stores and restaurants bribe to government officers, or they could never pass the regulation requirements, which are impossible to meet in the first place, to get their business licenses. The bottom line is that "don't make the government feel that you are dangerous for them" and "don't shout too loud to make other people believe you are beyond their regulations".

4. It is indeed possible that Bitcoin finally catches its eyes, and it finally decides that Bitcoin is a threat to it. But in my opinion it wouldn't be soon, and the possibility will not be significant larger than EU or US doing it.

5. Mining is not done publicly on the streets, and the electricity use is also limited. In China electricity costs about 0.1$/kWh, which is not much higher than in the US. If we could luckily expand to 1000GH or more, the mining space and electricity consumption might attract the attention of the local government. But that's quite far away, and could be avoided by scatter the Rigs into different places or even cities.

As a Chinese, I hope I didn't fail too much in describing how things work in China, and I hope the explanations above could answer your question.

[1713566285]

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[1713566285]

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1713566285

[friedcat]

2nd Payment

Calculation time: June 6, 05:45:13 forum time

Number of difficulty change: 0
Number of block reward change: 0

Time interval:
  Starting from: May 30, 05:07:33
  Ending at: June 6, 05:45:13
  Total time: 607060s
  Difficulty: 1,591,074.96

Hashrate of this week: 1.0089MH/s

coupon/share = (1.0089*10^6)/(2^32)*(607060*50/1591074.96)=0.0044813

Number of Shares: 5916

Total Payment: 26.5113708

[friedcat]

Update

The main thread has been slightly cleaned up. I also added a section of payment history.

Ngzhang released some news of Lancelot: https://bitcointalk.org/index.php?topic=79835.msg942822#msg942822. The expected date of first-batch releasing remains unchanged, because the present small bugs were already taken into consideration when he first estimated the date. I could take advantage of the short delivering time and low shipping fee by being in the same country as his. I'm looking forward to my smooth expansion.

[Bitcoin Oz]

I enjoyed your explanation of how you view the chinese government. Lets hope they dont catch on to bitcoin untill its too late.

[friedcat]

3rd Payment

Calculation time: June 13, 04:18:48 forum time

Number of difficulty change: 1
Number of block reward change: 0

Time interval:
  Starting from: June 6, 05:45:13
  Ending at: June 7, 19:51:04
  Total time: 137151s
  Difficulty: 1,591,074.96

  Starting from: June 7, 19:51:04
  Ending at: June 13, 04:18:48
  Total time: 462464s
  Difficulty: 1,583,177.85

Hashrate of this week: 1.01788MH/s

coupon/share = (1.01788*10^6)/(2^32)*(137151*50/1591074.96+462464*50/1583177.85)=0.0044829

Number of Shares: 6109

Total Payment: 27.3860361

[PinkBatman]

Sub

Edit: Big fan of this so far.

[friedcat]

Great News

Recently, many people are concerned with the sudden drop of mining bond prices. For those who worry that our 0.89% week growth is not enough to neutralize the pressure of BTC price rallying and the dramatic improvement of hardware, we are planning to launch a secret plan for you. The code name is Liquid Helium.

The details are to be announced.

[GeoRW]

Great News

Recently, many people are concerned with the sudden drop of mining bond prices. For those who worry that our 0.89% week growth is not enough to neutralize the pressure of BTC price rallying and the dramatic improvement of hardware, we are planning to launch a secret plan for you. The code name is Liquid Helium.

The details are to be announced.

Just be careful not to blow your hardware

[friedcat]

Great News

Recently, many people are concerned with the sudden drop of mining bond prices. For those who worry that our 0.89% week growth is not enough to neutralize the pressure of BTC price rallying and the dramatic improvement of hardware, we are planning to launch a secret plan for you. The code name is Liquid Helium.

The details are to be announced.

Just be careful not to blow your hardware

I don't know if normal silicon chips could work at the extremely low temperature in liquid helium. Some professionals give me a science popularization please.

However, the liquid helium is not for my hardware, but something else.

[Garr255]

Great News

Recently, many people are concerned with the sudden drop of mining bond prices. For those who worry that our 0.89% week growth is not enough to neutralize the pressure of BTC price rallying and the dramatic improvement of hardware, we are planning to launch a secret plan for you. The code name is Liquid Helium.

The details are to be announced.

Just be careful not to blow your hardware

I don't know if normal silicon chips could work at the extremely low temperature in liquid helium. Some professionals give me a science popularization please.

They don't

[friedcat]

I don't know if normal silicon chips could work at the extremely low temperature in liquid helium. Some professionals give me a science popularization please.

They don't

Thanks. Anyway, my fancy freezing fluid is for much much larger objects than several pieces of hardware.

[Bitcoin Oz]

When the ASIC appears it will definitely have some effect on the market. I expect maximum 4x difficulty increases for awhile after they appear. Really depends if they dribble the ASIC onto the market or have mass production.

Glad to see you are on top of the situation and keeping us updated.

[Bitcoin Oz]

I wish we could short AMD on the stock exchange 

[friedcat]

When the ASIC appears it will definitely have some effect on the market. I expect maximum 4x difficulty increases for awhile after they appear. Really depends if they dribble the ASIC onto the market or have mass production.

Glad to see you are on top of the situation and keeping us updated.

Sure, thanks. Just stay tuned for the secret plan!

[nimda]

If it doesn't follow Moore's law, shouldn't it be called NOT-MOORE?

NO.MOORE

NO.LESS

Seriously, though, I'm ready for this liquid helium plan...

[rdponticelli]

If it doesn't follow Moore's law, shouldn't it be called NOT-MOORE?

NO.MOORE

NO.LESS

Seriously, though, I'm ready for this liquid helium plan...

What about MORE.THAN.MOORE? 

I'm on board for this, expecting the liquid announce...

[Bitcoin Oz]

[friedcat]

4th Payment

Calculation time: June 20, 03:59:43 forum time

Number of difficulty change: 0
Number of block reward change: 0

Time interval:
  Starting from: June 13, 04:18:48
  Ending at: June 20, 03:59:43
  Total time: 603655s
  Difficulty: 1,583,177.85

Hashrate of this week: 1.02694MH/s

coupon/share = (1.02694*10^6)/(2^32)*(603655*50/1583177.85)=0.0045584

Number of Shares: 6175

Total Payment: 28.14812

[friedcat]

Update

The first batch of MOORE is reduced from 20,000 to 10,000 shares. It's split into IPO sales and private bulk purchase. The numbers of left shares are:

IPO: 471/1000
Private: 1350/9000

Our secret plan will be released at the same time with the next coupon payment.

[BurtW]

I like what I see.  Investing some.