You have nothing to worry about. Sell it however works best for you. You are selling something and that is OK to do. It doesn't matter if it's gold, silver, land, stocks, or bitcoins. Bitcoins are legal to own and legal to sell.  It doesn't matter if the bank files reports on the transaction because you are conducting legal activity. Any reports filed are done to comply with regulations, not because it is illegal to deposit large amounts of money in your account. No government agency is going to sieze your funds because it was a large transaction. The bank isn't going to ask you what the money was from.

Tax evasion is a crime. If you don't report it on your taxes when you file, the IRS may want to talk to you. Like the saying goes... "Only two things in life are certain, death and taxes."

My bad on the 10% miners, the double coins was on solo mining not pool mining.

Thanks, I'm more comfortable with what you are representing.

I can see now that the variance for each pool size is caused more by the difficulty changes than anything else. If the difficulty remained static, results would be much more uniform over a long period of time. At least that is what I would expect.

The heading on the pool graph doesn't make sense. (The second graph on the page.)

Not sure I am following your graph for pools. They seem to suggest there is a big difference over an extended period of time. For the most part luck is luck. It averages out over time like flipping a coin. When pool mining, a larger pool has more consistent luck over a short period of time, but your reward is smaller for each piece of luck. In a smaller pool your luck is more eratic unless you look at it over a longer period of time. But your reward is larger for each piece of luck. It averages out to be similar when you look at it over a long period of time. (That is, unless you are in a pool that has extended periods of bad luck.) Many people are impatient. They want the coin NOW. That is the draw of larger pools. But large pools can have bad luck too.

The larger factor is the difficulty, which is largely in direct relationship to the total hash rate. If you have more luck before the hash rate goes up you will earn a higher reward. If your lucky streak is after the hash rate increases you will earn a lower reward. What is the probability of each event over 15 difficulty increases? Wouldn't it average out for the average miner? Individual results may vary.

Maybe I just don't get what you are trying to do. Perhaps if you graphed actual pool results for a number of pools of various sizes over 6 months you would be able to see a correlation to your predictions, or not. I could be wrong, but it doesn't seem like 10% of the miners mining in pools would be making twice the average coin. If its true... which pool is that?

The only magic elixir is to be very very lucky. In which case you should solo mine. Are you a lucky guy? Gonna bet your whole investment on it?

I've made a few posts here. I have never suggested they were a scam. I don't believe that. My issue is that they are not fulfilling preorders fast enough. Not anywhere near fast enough. They have had enough time to get things rolling at a healthy pace and catch up. I am trying to find out the issues that are holding them up. They don't seem to be forthcoming on why they are filling so few orders per week. It is approaching 4 months since they began to ship. If there are outstanding orders older than the month of May their production level is insufficient for the orders they have accepted. Mining is a time sensitive business.

Huh. A newbie with a source that is close to a number of the bidders and seems to know what many of the other bidders are bidding... before the bidding results are released. Interesting.

I have asked for my money back some time ago now. I have not received any equipment... or money.

What follows here is my own second guesses, but I feel I am most likely pretty close to the mark.

Before I ordered from them I got the impression that they were going to use third party (hashfast) asic's but their controller board was their own internal design. So they were putting the hashfast chip on thieir board and completing the units with case, power supply, and cooling.

That doesn't seem to be the case, though I don't have one to verify. Can anyone who has a unit verify that the board is NOT hashcoins? Here is where I was led astray before ordering. If I had known they were counting entirely on third parties for ALL components and just assembling them for shipment, I would not have ordered from them.

My guess at this point is they are using hashfast board and asic's. There in lies the problem. The hashfast board was developed by a third party and has issues. Let's just call it junk... unavailable junk. It has led to the near demise of hashfast and is likely to swallow hashcoins too if they don't remedy the situation. Hashfast asic's are good, and available, as far as I know. But without a good board, in plentiful supply, they are useless. That is why they can't fill their orders.

So much for guesses. If anyone has any factual information that can verify or refute my guesses, please share.

Fiat currency is based on faith in the government issuing it. Cryptocurrency is based on an undeniable and unalterable mathematical certainty. Fiat is like religion... either you have faith or you don't. Currently the masses have faith. That may not always be the case. When faith fails the system collapses. Cryptocurrencies do not require either faith or a government, or for that matter the blessing of the Ludwig von Mises Institute.

Great video! Thanks. I agree with what you are saying.

The next time someone shows a chart with a pool at 50% it would be interesting to see what the 7 day chart shows. As you say, if ghash did something untoward, the backlash from their 180,000+ miners would cost them more than they could ever gain from it.

My biggest concern is corporate miners. As they grow in size and number they may not have bitcoin's best interests at the top of their list, and collusion is not below their standards if there is a buck in it. Any public backlash would have little effect on their operations, beyond a flood of phone calls, twitters, and emails that they would ignore. At this point in time they aren't a threat... but keep a close watch in the future. I feel, if there ever is a real threat, that is where it will come from.

So long as small miners keep up with their hashing power and mine on public pools we should be safe.

I recieved info from Hashcoins around the 8th that they had filled the 32XX invoice series. (I have an earlier post about this with more detail.)

I have one order in the low 33XX series and one in the 35XX series. I should expect to hear soon, like this coming week, that my first order has shipped, but I have not recieved any notice at this point in time. They suggested that I should expect both orders filled by the end of this month. That would be between 200 and 300 orders, and I'm not optimistic they will complete that many. I hope I'm wrong.

This should give everyone a good idea of where they are at. I will post when I receive notice that my first order has shipped. That will confirm that they are under way filling the 33XX series orders.

kazbek

I got a response from Hashcoins. They say all orders in the 32XX series have been filled, except 2 going to Russia due to bureaucracy processes. Has your order shipped? If not, are you in Russia?

(I am trying to verify that I have been given accurate information.)

Are you certain? I have been hobby mining LiteCoin most of this year... The value has dropped in half, and the difficulty has nearly doubled! Same grass, different pasture. Scrypt asic's are doing a number on altcoins same as SHA-256 asic's did on bitcoin.

I just emailed Hashcoin about my orders. If I don't get good news I will most likely cancel.

Trollbox can you confirm the power consumption? The specs say they use around 85 watts per unit. Thanks