Quote from: Bitcoinorama on September 05, 2013, 01:16:29 PM

Quote from: klee on September 05, 2013, 01:04:40 PM

Quote from: Bitcoinorama on September 05, 2013, 01:00:34 PM

Quote from: klee on September 05, 2013, 12:44:54 PM

Quote from: Bitcoinorama on September 05, 2013, 11:46:46 AM

Quote from: aerobatic on September 05, 2013, 11:41:37 AM

Quote from: sbfree on September 05, 2013, 11:35:19 AM

Could this recent spike in the Hash Rate be KNC testing units??

Under promise over deliver EARLY?? or just my wishful thinking??

https://blockchain.info/charts/hash-rate

I agree with the others, this is BitFury ramping up (and maybe a little BFL). KnC probably wont switch on their first chip til later this month, days before we get ours ! (fingers crossed)

-- Jez

Jes, KnC's will be a large spike if they are planning on shipping the orders to date so quick. There won't be any uncertainty when they test/ship. As they are aiming to manufacture and ship in volume, not trickle. It will just be two weeks of solid spike, then a levelling, until Nov/Dec.

What trade strategy will you follow? Regarding selling the coins you mine...

I personally see as the network hashrate increases massively, the ease of undermining the network reduces significantly. Thus as the network becomes more secure and inpenetrable to attack, the price gradually rises. I think we're on an steady upward trend now as we have broken away from the psychological $100 and reaffirm a more confident psychological 100 (which is precisely where we are right now). Media will become more poisitive and then hopefully more people realise there is greater profit in innovating the payment process regarding mainstream adoption. Exchanges still remain the weak link and we need a mutual regularatory stance there before the currency can increase liquidity significantly, but these are all positives to come, as well will be private equity pouring in for the currency. All this needs to be approached with care, but i'm not concerned about selling coins personally. Manipulation may occur from time to time, but ceratinly no where near the same as within holding shares in a company, where insider trading is rampant. Obviously this isn't the case everywhere, but corruption is a massive tempetaion as co. managers speak to fund managers, and it's a releif an organic currency such as Bitcoin is free of that temptation to a greater extent.

So basically you are holding and not selling like crazy to ROI I suppose!

I am buying btw in case anyone is interested (bitpay.com/bitcoin-exchange-rates)

Nah mate, same with GPUs, all this ROI stuff is nonsense. I believe you will FWIW, but w.r.t. GPU mining it was never about instant ROI, it was about mining Bitcoin with a belief it would be adoptd as an alternative currency to corrupted fiat printed into worthless paper. The long term belief of GPU mining was that Bircoin's value and your mined coins would rise, never instant gratification, that's just a recent development with calculators pushed by Butterfly Labs and Bitsyncom touting ASICS as life changing money printers, lol...

I still mine alts with gpus - mainly anoncoin. I hold most of them because I have free electricity connections in various places Wink

I know what you mean I am heavily disappointed by the situation and I really think the last customers that will enjoy some profit (before it becomes only affordable by big players) would be the first KnC customers (and current Bitfury ones).