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deltanine
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August 29, 2013, 06:37:53 AM |
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200 gone with some mining karma back
I'll take the karma. Friedcat has integrity and that is worth a *lot* in this climate of scammers, opportunists and fraudsters. Frankly, my valuation of AM has increased more than the 200 BTC that Friedcat gave back. Knowing you're investing in a company run by an honest guy is worth a lot. Same. You're a pretty analytical guy, so I find it interesting and meaningful that you're assigning importance to something unquantifiable. Honesty doesn't fix datacenter woes, shipping glitches, nor competitors' efforts. But for me, it is another indicator that I can have a decent level of trust in this guy whom I've never met, nor have any "real world" visibility into. Doing business on a handshake is rare these days. Doing so successfully... well, I'm pleased to count myself among the lucky ones to be a small part of Friedcat's world. I normally don't consider intangibles (and, as a rule, I avoid companies where intangibles make up a significant portion of the value). But this is different. There would be little to no repercussions to Friedcat walking off with everyone's money. The counterparty risk is huge and must be considered in any accurate true-value calculation. This, to me, reduces the "effective converted liability" represented by counterparty risk by significantly more than 200 BTC. That's how I reconcile it with the rest of my analysis, at least. Friedcat has built a nice track record of trustworthiness. EDIT: Just now remembering when you posted this. You're right that this is not the real concern. If Friedcat was bent on defrauding shareholders, there would be many better options. But that potential IS there, and we've had so many past catastrophes (Bitcoinica, Pirateat40) and failures (BFL, now Avalon) that I'm surprised to see so little discussion of the risk.
Even though I'm sure you still feel AM is overvalued, I'm happy that you now understand why there was so little discussion of risk. |
Freedom is a state of mind, and then Bitcoin comes along.....
-S4VV4S
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"There should not be any signed int. If you've found a signed int
somewhere, please tell me (within the next 25 years please) and I'll
change it to unsigned int." -- Satoshi
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VeeMiner
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August 29, 2013, 06:45:57 AM |
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Friedcat has built a nice track record of trustworthiness.
since the beginning of the GLBSE bust friedcat has always proved himself to be trustworthy and reliable. That's one of the reasons why I invested in AM and it has been the best investment I have ever made. |
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BitAddict
Legendary
 Offline
Activity: 1190
Merit: 1001
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August 29, 2013, 08:34:20 AM |
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Yesterday, Friedcat mined a block that contains 200 BTC transtion fees, which resulted by somebody mistaken processing.
But today, Friedcat give back the 200 BTC to the guy.
Nice Friedcat !
Yesterday I was thinking about this. I had no doubt he was going to try to send this money back.  |
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bitman442
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August 29, 2013, 11:22:54 AM |
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New blades are up for sale and nobody seems to notice/care? That seems odd... especially given the 4 BTC price on them. |
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JimiQ84
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August 29, 2013, 11:24:25 AM |
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New blades are up for sale and nobody seems to notice/care? That seems odd... especially given the 4 BTC price on them. no pictures, no interest. Only vague info - USB capable, not overclockable. We knew this already. |
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Taxidermista
Legendary
Offline
Activity: 1147
Merit: 1001
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August 29, 2013, 11:30:37 AM |
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New blades are up for sale and nobody seems to notice/care? That seems odd... especially given the 4 BTC price on them. no pictures, no interest. Only vague info - USB capable, not overclockable. We knew this already. Yeah, where are all those marketing experts? |
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bitman442
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August 29, 2013, 11:36:41 AM |
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New blades are up for sale and nobody seems to notice/care? That seems odd... especially given the 4 BTC price on them. no pictures, no interest. Only vague info - USB capable, not overclockable. We knew this already. I'm waiting for more info. also, but the 4 BTC price point is worth noting at least. Nobody knew the pricing otherwise. |
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CMMPro
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August 29, 2013, 01:05:38 PM |
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Canadian reseller WTCR has them listed for 5.79btc....no break even on these at all according to all the online calculators, negative return from day one if you buy one.
I'd like to buy from Canary but he won't step over the other reseller. There should be an allowance for monopolistic pricing.
Even if they were charging 4.5btc for customs duty it would be acceptable but not at 1.8btc more plus shipping.
The old ones should actually sell for slightly more since they allow for overclocking.
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Franktank
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August 29, 2013, 01:24:50 PM |
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Canadian reseller WTCR has them listed for 5.79btc....no break even on these at all according to all the online calculators, negative return from day one if you buy one.
I'd like to buy from Canary but he won't step over the other reseller. There should be an allowance for monopolistic pricing.
Even if they were charging 4.5btc for customs duty it would be acceptable but not at 1.8btc more plus shipping.
The old ones should actually sell for slightly more since they allow for overclocking.
If the SEC is interested in Bitcoin, think the FTC may be interested in ASIC pricing?  |
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finlof
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August 29, 2013, 01:43:01 PM |
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Canadian reseller WTCR has them listed for 5.79btc....no break even on these at all according to all the online calculators, negative return from day one if you buy one.
I'd like to buy from Canary but he won't step over the other reseller. There should be an allowance for monopolistic pricing.
Even if they were charging 4.5btc for customs duty it would be acceptable but not at 1.8btc more plus shipping.
The old ones should actually sell for slightly more since they allow for overclocking.
you can buy from silentsonicboom (another valid USA reseller) and he will ship to canada - https://bitcointalk.org/index.php?topic=283077.0 |
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canth
Legendary
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Activity: 1442
Merit: 1001
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August 29, 2013, 01:50:48 PM |
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Asicminer:
Currently having difficulty maintaining running blades. In fact, in friedcat's most recent post he even mentioned that one of the reasons they aren't posting an actual hashing meter is because it would require them to perform more maintenance (leading one to assume they are laxed on the maintenance and letting people see that would be a problem). This is further exacerbated by mysterious network issues that cause them to be unable to process all available transactions (losing fee's) and leading to orphaned blocks (highest orphaned block count of any mining pool). These same 'network issues' are frequently friedcat's excuse as to why hashing seems to be going offline. How hard is it to hire quality sys admins in China anyway?
I don't think the bolded part is a fair conclusion. I think his meaning is more that it would add an additional responsibility and commitment of resources because if it went down then people on this board would be screaming and going nuts. So overall its just not worth it and is a waste of resources. Plus it would allow DDoS's and other malicious attackers a method of determining EXACTLY how effective their attacks were. In case you haven't notice, friedcat is a very unique cat indeed in the bitcoin mining community (honest, thoughtful, intelligent, takes care of his customers / shareholders, not willing to engage in malicious behavior, etc.). Also I think it is a bigger issue than just hiring a sys admins. Since the parent company owns the vast majority of the shares, obviously it is also in friedcat's best interest to fix the issue. It makes no sense for any party involved to just shrug at the number of orphaned blocks. I am sure if it was a simple fix that he would do it. I think its a bigger issue related to China's internet firewalls, weird network issues and other Chinese internet idiosyncrasies. I've commented on this before, but I'll put it out there again. I have experience solving cross-border Chinese internet challenges for financial companies. The solutions aren't free - probably around $10K+ / month, but they work. If any board members are aware of whether or not Friedcat is looking for assistance in tackling this problem, I'll be happy to share my experiences with his network admin. In short, if this is a major profit issue, it can be solved in < 30 days if there's a will. |
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velacreations
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August 29, 2013, 03:53:27 PM |
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I don't pay for promises. I pay for results and delivery.
Others promise. And promise. And promise.
Friedcat delivers.
Friedcat once was a promiser only too. And i believed him luckily. There are significantly more promisers than miss their mark compared to ones that hit, like FC. And even FC has stumbled at times. When even FC has a hard time, it makes me wonder how in the world some of these other jokers will meet even half of their wild claims. |
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SaintFlow
Sr. Member
Offline
Activity: 476
Merit: 250
The first is by definition not flawed.
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August 29, 2013, 06:24:27 PM |
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About the 200 bitcoin - I wonder when the press picks up on it.
The value Mr. Cat created for the public perception of bitcoin is bigger than 200 coins.
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don't let me make you question your assumptions
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Panterino
Member
Offline
Activity: 70
Merit: 10
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August 29, 2013, 06:28:45 PM |
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About the 200 bitcoin - I wonder when the press picks up on it.
The value Mr. Cat created for the public perception of bitcoin is bigger than 200 coins.
Was thinking the same thing. |
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TheSwede75
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August 29, 2013, 06:35:30 PM |
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About the 200 bitcoin - I wonder when the press picks up on it.
The value Mr. Cat created for the public perception of bitcoin is bigger than 200 coins.
200 BTC invested, 1000s BTC in trust and respect gained. |
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🏰 TradeFortress 🏰
Bitcoin Veteran
VIP
Legendary
Offline
Activity: 1316
Merit: 1043
👻
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August 29, 2013, 06:36:04 PM |
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About the 200 bitcoin - I wonder when the press picks up on it.
The value Mr. Cat created for the public perception of bitcoin is bigger than 200 coins.
Definitely true. "Bitcoin miner voluntarily returns $22,000 mistake" |
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g83
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August 29, 2013, 06:55:27 PM |
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Friedcat is the only one who puts a little trust in bitcoin business. All other players just fucked up
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SaintFlow
Sr. Member
Offline
Activity: 476
Merit: 250
The first is by definition not flawed.
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August 29, 2013, 07:18:25 PM |
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Friedcat is the only one who puts a little trust in bitcoin business. All other players just fucked up
only one? all other fucked? why so no bitcoin transactions with you? |
don't let me make you question your assumptions
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donut
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August 29, 2013, 07:41:34 PM |
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Friedcat is the only one who puts a little trust in bitcoin business. All other players just fucked up
only one? all other fucked? why so no bitcoin transactions with you? Are you thick? He's talking about mining businesses. |
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conv3rsion
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August 29, 2013, 07:54:50 PM |
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I'm extremely happy that Friedcat returned that transaction fee mistake.
Integrity is worth a lot more than 200 coins (no matter what BTC ends up being worth).
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