i have to agree.. this was my first thought when i saw the article too
a 200k sell on the current market would drive the price down but by doing it this way and creating demand from a new market if enough people bite it'll drive the price up just long enough for them to have turned all their BTC into cash

their 'company' will then be able to pay them wages/dividends and generally bleed down the value of BTC whilst only they benefit from it

it's a clever piece of latteral thinking, but not a good thing for a technology whose best outcome would be it stabalised into a currency

If you don't like the erratic nature of Bitcoin against fiat currencies, take a look at trading BTC with LTC, the movements are a lot smaller.

If you're asking how do you keep $1000 = $1000 you just keep it as dollars.

Though I suspect what you are looking for is a way to profit from the meteoric rises without being exposed to the falls then msg me when you've worked it out

I can confirm this, my PayPal refund was for the entire amount.


Still of the opinion that it wasn't set up as a scam in the first place but they are keeping customers hanging on for kit that if it does every ship will already be too slow and out of date. There is evidence that they have build something, why would you bother if it was an outright scam?

I don't think it's a blatent deliberate scam, more a case of unfortunate delays making the market lose confidence.

I paid by PayPal, 2 Singles ($1386) in order to get some protection, when it became obvious that the product would not ship before the PayPal 45 day rule I raised a ticket stating that I specifically did not want my order cancelled but I was opening a resolution ticket to raise my concerns about potential non delivery of product.

Paypal didn't respond but almost by return I was issued a credit note by Butterfly and my order cancelled, a few days later and my PayPal account is refunded in full.

Yes, I've lost my place in the queue, but to be honest - if there are 30,000 pre-orders and an additional unspecified wait, then the advantage of getting into ASIC mining has passed and the economics do not work. It's a shame, but this is the best outcome. I was too late to the party, and I chose the wrong supplier.

IMHO The smart money bought shares in ASICMiner, but alas they are no longer available either.
 

hopefully they'll have fixed it before Europe wakes up tomorrow and nobody notices.

personally i believe that they have caught it before any actual accounts were compromised but it should still serve as a warning that any high profile bitcoin players will be a target for hackers.

there's an excellent thread here about securing your wallet :-)

hey, at least we can all go and buy some tin foil to make hats out of with the profit we've made in the last month :-)

awesome post, you must protect against physical loss as well as hacking. keeping your wallet on a single laptop hard drive with no backup is just suicide

personally i have mine on a virtual machine hosted in a secure datacenter with storage on a raid array AND backed up in 2 offsite locations, i'm still paranoid about it :-)

consider this post 2 then

Hi there,

I'm also new and kicking myself that I didn't get invested in bitcoin when it was introduced to me last year.
Although I still don't think I'm to late to the party for a bit of investment profit  :-)

And even when the bubbles burst I still see a place for a currency free from government and financially institutions meddling. Bitcoin and Ripple have long lives ahead of them.

P

(please can someone activate my account so I can post elsewhere,  cheers)