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How can a decentralised exchange put US$ in my bank account?
The individual broker you're dealing with would transfer the cash in any of the thousands of ways fiat is transferred now.
There will also evolve intermediaries who's soul business would be to facilitate the fiat transfer in in the system through whatever network they have access to for whatever country they are in.
So finance intermediary plugins could be installed in your P2P exchange app? Might work.
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And you might as well be satisfied now, for I probably was already ripped off.
Well I'm not satisfied by that at all and think it is a sad indictment of human nature.
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So we are to believe that these people with no history of participation in the Bitcoin community have spent >$1million and the last 12 months designing and building a Bitcoin protocol specific ASIC chip, then designed and built the board and software to interface with it, all without consulting anyone in the Bitcoin community?
If you believe that, I have some magic beans you might be interested in.
If you believe that, I have some magic beans you might be interested in.
You are just making assumptions here. They may have done nothing at all or they may in fact be in communication with someone in the bitcoin community. It might be a scam or just deluded enthusiasm. There's no telling really. It does seem unlikely but then we know nothing to base that critique on. They might be able to get masks done on the cheap or they might have a rich uncle who just loves bitcoins.
The nature of difficulty goes against mass production of ASICs. People always say they will create them for he benefit of the network and sell them. At the end of the day, if you can hash more quickly than everyone else you are not going to want to lose that edge. There is no point in ramping up the difficulty quicker. So this alone is enough to believe that every ASIC development is a scam as there is literally no incentive to bring everyone along for the ride, the only incentive is to get everyone to pay for your ride.
I didn't make any assumptions, I just asked a question.
If they were working with a Bitcoin developer, they would have probably mentioned that, which would have given them some credibility. Designing the actual chip would be a huge achievement, yet they haven't mentioned any details regarding the chip or its development.
So we are to believe that these people with no history of participation in the Bitcoin community have spent >$1million and the last 12 months designing and building a Bitcoin protocol specific ASIC chip, then designed and built the board and software to interface with it, all without consulting anyone in the Bitcoin community?
If you believe that, I have some magic beans you might be interested in.
If you believe that, I have some magic beans you might be interested in.
Locally sourced hardware? I didn't realise there were any semiconductor companies in Sweden. Are you guys sure you understand what's involved with creating an ASIC chip?
Similare to Ace Hardware, but with all blondes at the registers. http://en.wikipedia.org/wiki/Clas_Ohlson
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Clas Ohlson is a Swedish hardware store chain and mail-order firm that specialises in hardware, home, leisure, electrical and multimedia products.
Haha. They probably said "Suuure, we can sell you some ASIC chips!"
The fact that the CEO has been convicted of scamming, and the whole scammy business of them saying they have "shipped." when in fact they have only given one unit to their employee, Josh, which hasn't actually left the building... well it doesn't inspire confidence.
I wonder how many extra orders they received when they publicised that they had started shipping.
I wonder how many extra orders they received when they publicised that they had started shipping.
Still no confirmation of working bfl ASIC device!
1 satoshi says that people will still be posting this even after all the pre orders have been shipped.
I'm pretty sure it will stop once there IS confirmation of a working device. Why should it stop until then?
I quite like the idea of Bitcoin, but let me play Devil's Advocate.
It seems that Bitcoin's only value is its ability to be converted into fiat. That guy never would have sold his Porsche for 300 BC if he couldn't cash out via Mtgox.
If the above is true, doesn't that make BC a commodity? A commodity that has no intrinsic value?
How can things on the supermarket shelf be priced in BC, when the 'price' of BC changes so much from day to day?
How could it possibly transition into a currency that doesn't need to be backed by anything?
Is the best we can hope for is that BC remains a temporary place to store fiat and pay for things anonymously?
It seems that Bitcoin's only value is its ability to be converted into fiat. That guy never would have sold his Porsche for 300 BC if he couldn't cash out via Mtgox.
If the above is true, doesn't that make BC a commodity? A commodity that has no intrinsic value?
How can things on the supermarket shelf be priced in BC, when the 'price' of BC changes so much from day to day?
How could it possibly transition into a currency that doesn't need to be backed by anything?
Is the best we can hope for is that BC remains a temporary place to store fiat and pay for things anonymously?
Let's assume worst case scenario BFL takes our money and runs. Is there any chance we can get our money back in that situation? Through any intermediary?
Do a little research and see how much all the people that sonny scammed got back. you can expect 1000x that amount.
I don't understand what you mean
Without even doing the research, I'd say the people Sonny scammed got back 0, so the joke is 1000x that amount would be...0.
There's no point having lots of employees if none of them are smart enough to design a board that doesn't overheat.
The problem with BFL is the dishonesty. If they know they have to rethink and rebuild all their boards, order and test new heat syncs, fabricate all new cases... chances are they aren't going to be shipping within 2 weeks. Just be honest with people. What's the point of disappointing people every 2 weeks?
So last year a few companies came up with plans for ASIC miners, but didn't have the money to develope them, so they asked you guys to fund them in the form of pre orders. Some months later, right about the time they were supposed to deliver the ASIC hardware to you, 3 new miners coincidentally came out of nowhere and took over 60% of the market. Does that about sum it up?
Mind you, I'm taking the "3 new miners take 60% of the market" part off a news story that I saw, so correct me if I'm wrong.
Mind you, I'm taking the "3 new miners take 60% of the market" part off a news story that I saw, so correct me if I'm wrong.
ok i m in also
but do you have an idea of when?
and if you have a wholesale price ,i would be interested in more than one
We won't talk about the detail until we are ready. It's really market evaluation at the moment and whilst the base technology is in Cairnsmore2 we still have a little jump to what would be Cairnsmore3. That timeline is stretchy as this is one of many projects that we are doing and it isn't our most important project commercially. We also have a very major product launch coming so everyone here will involved in that for the next 2 months and that will hit everything that we do. So rather than promise timescales, as certain of competitors would do and then fail badly to keep them, I won't fix a timescale that could easily get broken. I know that will be a pain to people making decisions but just talking about what we are doing it is the best I can offer currently.
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You have thousands of people willing to pay you $20,000 for a product, and it isn't a priority? You guys must be doing very well indeed.
Wouldn't it be nice to be able to buy mining hardware on demand, and not have to wait months? I play tennis with an investment banker who's interest has been perked by Bitcoin.
So first I need to figure out how much it will cost to develope the hardware. If some experts could provide me with some details so that I can provide them to the board designers, that would be great. None of you happen to have a Gerber file for an ASIC miner by any chance, do you?
So first I need to figure out how much it will cost to develope the hardware. If some experts could provide me with some details so that I can provide them to the board designers, that would be great. None of you happen to have a Gerber file for an ASIC miner by any chance, do you?
The price of the bitcoin arises from the 45$/bit to 90$/bit in less than one month.
What reason promotes persons to buy bitcoin?
What reason promotes persons to buy bitcoin?
It has been getting a bit of press in recent times. Lots of bloggers talking about it as an alternative as Cyprus invalidates their citizens' bank deposits.
Not really. It actually already has, and it should be taken into account when looking at the current price rise.
What this adds to the currency itself is that it becomes a more secure platform as a whole, and less likely to be the victim of a Botnet trying to disrupt the system. BUT there is now room for a botnet targeting ASICS farms.
What this adds to the currency itself is that it becomes a more secure platform as a whole, and less likely to be the victim of a Botnet trying to disrupt the system. BUT there is now room for a botnet targeting ASICS farms.
Is it true that 3 new miners popped up recently and took over 60% of the hash power?
The Cyprus deal indeed sets a president. You can expect similar situations to occur in other troubled tax havens. The Cayman Islands' banks would contain large (mostly foreign) deposits, compared to the small population of the territory, making a government bailout of the banks very unlikely.
Hi, I'm Bendex. I'm a senior member of some Forex trading boards and am exploring this whole Bitcoin phenomenon. I pick things up pretty fast, so if you could remove my training wheels, that would be great.