It will be released as soon as the accountant is finished with the numbers.
(The accountant is actually a dead raccoon on the side of the I95, just outside of Washington)
Best post of the year already.
On the other hand, I equally imagine a scenario where friedcat posts a simple "It is time." which precedes an immediate BTC price explosion well into the 5-digit range.
the more time flies without a word from FC, the more i think the "its time" moment to be related to the exact contrary: AM shuts down.
Since when are you not the AM Perma Bull? Not been following AM much lately, but I thought you were always so positive about them
meh, momentary bitcoin spleen. i hope they prove me wrong tho.
I just have a very, very difficult time seeing consumers and industrial clients eager to put in batch orders for AM-manufactured devices after the Tube/Prisma chaos.
If you think of cloud hashes as analogous to treasury bonds in a fiat economy, you're doing it right. Yields on both treasuries and hashing bonds are naturally expected to fall over time as their supporting economies mature - just like what we have right now across the global economy (namely, free borrowing power, although to a bit too large and bank-centralized degree to really support long-term economic kindling).
Now, if you see the BTC economy start to say "well, fuck operating our own miners, let's just all buy cloud hashing securities", well then this game starts to become very similar to the global bond markets.
Note how the U.S. has the rest of the world by the balls economically (save for maybe Germany and the UK, though Europe is fucked on a whole 'nother level in general right now). This is due to a number of reasons, though if AM were to maximize scalability over chip-producing competitors, it could very well indeed find itself in a similar position of overwhelming dominance.
Satoshi's greatest mistake in designing the Bitcoin protocol was to solely use SHA-256 for block-hashing. If they had instead implemented a cycling mechanism which randomized the necessary hashing function across a varied array of options (say scrypt, SHA-256, and X-11), it would've reduced this obscene centralization of market power and BTC holdings that we see today.
Because even if ASICMINER achieves secure dominance in the chip market, let's face it, that's not really a good thing either. They'd effectively be able to set bond yields (aka interest rates) in
the same exact way that the central banks do with fiat money IT IS THE SAME DAMN MARKET MECHANISM IN ACTION.Ultimately, if it looks like fiat, smells like fiat, and behaves like fiat, then what was its purpose in competing with fiat from its genesis?
Just some things to think about.
As much as we all hate to hear it over and over again, the real innovation was not the creation of an independent system of electronic money but rather a true solution to the Two Generals' Problem, and unless BTC can evolve into a gateway commodity token for a newly created 'Economy of Internets', it will ultimately be cast into the same bin as Dutch tulips and Enron stock.
I have said it again and again here, but if ASICMINER wants to achieve
sustainable dominance in the market (beyond just ascending the hashrate provisioning throne), friedcat needs to begin making friends with people at IBM, Oracle, Intel, AMD, NVIDIA et al. to develop middleware and end-user hardware for controlling, distributing, and managing the next decade's cloud infrastructure - one where computers no longer have hard drives but rather broad RAM sets that torrent VM's onto a shell machine via cryptokey ID Auth management.
He is certainly well-known enough across IT communities to request an introduction; unless he has already began to put such a plan in motion alongside burning the company's cryptocash to suffocate his competition, the whole thing will have been for naught.
That all being said, I am still favoring TSCM stock over AM in the near-term (but I've been known to be a fool at times).
