erm, where can one buy an ASIC?Landmark Computers said:Need an ASIC for BTC mining
Last edited by a moderator:
erm, where can one buy an ASIC?Landmark Computers said:Need an ASIC for BTC mining
erm, where can one buy an ASIC?
Andy, I must warn you. I was doing a lot of digging on various BTC forums last night, as of CES2013 Butterfly Labs didn't have anything to show other than an empty case with a few fans - when questioned, the guys admitted the hardware did not yet exist - video interviews are on Youtube, you can see their discomfort as they try to lie their way out of things. They also have a no refunds policy. From what I can tell, they're using money spent on "orders" (which should be called pre-orders) to try to develop an ASIC unit, each time they run low on cash they start advertising on the BTC forums to increase sales.
Hang onto your card, should BTC crash tomorrow your card is still worth something whereas an ASIC will be worth diddly-squat.
Supreme, care to back that up? Nobody else is predicting BTC to collapse.
Andy, I must warn you. I was doing a lot of digging on various BTC forums last night, as of CES2013 Butterfly Labs didn't have anything to show other than an empty case with a few fans - when questioned, the guys admitted the hardware did not yet exist - video interviews are on Youtube, you can see their discomfort as they try to lie their way out of things. They also have a no refunds policy. From what I can tell, they're using money spent on "orders" (which should be called pre-orders) to try to develop an ASIC unit, each time they run low on cash they start advertising on the BTC forums to increase sales.
Hang onto your card, should BTC crash tomorrow your card is still worth something whereas an ASIC will be worth diddly-squat.
Supreme, care to back that up? Nobody else is predicting BTC to collapse.
Links or it didn't happen.
Personally I don't think BTC will collapse, but it might not be worth a lot in future. Just like other commodities (even currencies) things change.
And when will it crash .. 5 years .. 1000 years??
Most damning bit:
[video=youtube_share;5ZUPniBo5UQ]http://youtu.be/5ZUPniBo5UQ?t=4m20s[/video]
Watch from the 4:20 mark, he admits there aren't any ASICs.
BFL can stand for:
Bayesian Filtering Library
Big Fat Liar, 2002 comedy film starring Frankie Muniz from TV's Malcolm in the Middle, Nickelodeon's Amanda Bynes, and Paul Giamatti
Bluefaced Leicester
Body for Life, a fitness program created by Bill Phillips
Bat for Lashes, the stage name of English musician Natasha Khan.
Butterfly labs, a huge Bitcoin ASICs scam.
Type | First Name | Middle | Last Name | Title | Organization | Address |
President / Director | CHRIS | VLEISIDES | 2507 JEFFERSON KANSAS CITY, MO 64108 | |||
President / Director | Nasser | Ghoseiri | 2507 JEFFERSON KANSAS CITY, MO 64108 |
Sonny Chris Vleisides, 39, previously of Kansas City, MO was arrested in 2007 and held two years in Italy before he was extradited to the United States. Vleisides was sentenced to 14 months in prison followed by three years supervised release after pleading to one count of mail fraud.
A joint investigation involving the IRS-CID and the United States Postal Inspection Service (USPIS), revealed that from at least 1990 through July 2006, SONNY VLEISIDES, James Ray Houston, Dennis Emmett, William Cloud, Henry Walther, Scott Henry Walther, and others committed a massive international lottery scam using the following company names: Shamrock Agency, German Swiss Group, World Expert Fund, Mutual Medical Insurance Co, Old Amsterdam Trust Co, Euro American Fax Co, European Union Commission, EU American Payment Co, Global Search Network, North American Foreign Payments Services, Wor'dwide Verification Service, and others. VLEISIDES ran the scheme along with Houston and Emmett. VLEISIDES, Houston and Emmett, who were all located in Costa Rica, worked with mailing houses which, at the direction of VLEISIDES, Houston, and Emmett, sent out tens of thousands of mailings to victims in the United States, many of whom were elderly. The mailings contained false statements, half truths, and omissions, and induced the victims to participate in various international lotteries, falsely stating that if the victims participated, they were guaranteed to win or had a very good chance to win. The mailings directed the victims to send their money to Ireland, at d the Netherlands, among other locations, where William Cloud had set up addresses with commercial mail receiving agencies and individuals to forward the money, eventually, back to the United States. After receipt at the commercial mail receiving agencies, the victims' money was sent to Henry Walther, who, along with his son Scott Henry Walther, deposited the money into various bank accounts and then distributed it as directed by VLEISIDES, Houston, and Emmett. Some of the money was spent on furthering the criminal activity. Some of the money was paid out to victims in small-dollar checks that the co-schemers misrepresented to be lottery winnings. The rest of the money was paid out to the co-schemers and others for their own use. VLEISIDES and the other defendants did not buy any lottery tickets, and the vast majority of the victims lost the money they sent. The total loss from the scheme is in excess of $19 million.
An analysis was done on approximately twenty of the bank accounts established in the United States at the direction of VLEISIDES and his co-schemers. The analysis revealed, in summary, that the victims' money was first deposited into accounts established by the co-schemers at numerous banks in accounts with names that sound like official lotteries: SHAMROCK AGENCY, WORLD EXPERT, OLD AMSTERDAM, GERMAN SWISS, and EUC. (Hereinafter, accounts at this first layer will be referred to as "Deposit Accounts.") The co-schemers obtained over $19 million from tens of thousands of victims and deposited them into these accounts. After the co-schemers deposited the victims' money into the Deposit Accounts, they transferred the money to the next layer of accounts, hereinafter referred to as "Payment Accounts." These accounts were in names that included NORTH AMERICAN PAYMENT and EU PAYMENT SERVICE. From the Payment Accounts, the co-schemers wrote checks represented as winnings and sent them back to the victims. The amount of the alleged "winnings" was far less than the amount the victims sent in - for the over $19 million going into the accounts from victims, only approximately 20% was sent back to victims in the form of "winning" checks. The co-schemers transferred some of the money from the Deposit Accounts and Payment Accounts to the next layer of accounts, which will hereinafter be referred to as "Syphon Accounts." The co-schemers wrote checks (or used wire transfers) from the Lottery Accounts and the Payment Accounts to the Syphon Accounts, which were in names that included WESTERN INTERNET, BUTTERFIELD, CARNEGIE and HENRY WALTHER ATTORNEY WIRE ACCOUNT. Money from the Syphon Accounts was used to continue the scheme by paying scheme expenses, as well as to provide benefits to the co-schemers. The co-schemers also took money at each layer in the form of checks to cash, checks to themselves, or checks to the payment of personal or scheme expenses.
Sonny Vleisides is associated with BFL and it's the same Sonny listed in the case documents. He was involved in off shore gaming in the capacity of selling and providing software engineering to companies that did the actual offshore gaming (there is even a US patent application for the process). The industry came under attack (as we all remember) around that time, and Mr. Vleisides was caught up in the process as well as a good portion of the industry based in Costa Rica.
Although this may be cause for concern to some, the fact is that we're a robust company with 22 employees. One of them has a colorful background in offshore libertarianism. If I thought there was even the possibility of something unsavory going on within BFL, you can rest assured I would a) not be part of it and b) would let everyone know it.
The reality is, we are legitimate, we have released revolutionary products and we are going to release more revolutionary products. I was made aware of this back story prior to my employment and I evaluated it and concluded that it was immaterial to the business at hand and thus joined BFL. There was nothing hidden from me and Sonny has always answered questions and been completely open about his past, but I think we can all agree that it's not something you just announce to the world.
The defendant is hereby placed on supervised release, effective immediately, for a term of three years under the following terms and conditions:
...
3. The defendant shall not engage, as whole or partial owner, employee or otherwise, in any business involving loan programs, gambling or gaming activities, telemarketing activities, investment programs or any other business involving the solicitation of funds or cold-calls to customers without the express approval of the Probation Officer prior to engagement in such employment. Further, the defendant shall provide the Probation Officer with access to any and all business records, client lists and other records pertaining to the operation of any business owned, in whole or in part, by the defendant, as directed by the Probation Officer; and
[MENTION=12336]Landmark Computers[/MENTION], I must warn you. I was doing a lot of digging on various BTC forums last night, as of CES2013 Butterfly Labs didn't have anything to show other than an empty case with a few fans - when questioned, the guys admitted the hardware did not yet exist - video interviews are on Youtube, you can see their discomfort as they try to lie their way out of things. They also have a no refunds policy. From what I can tell, they're using money spent on "orders" (which should be called pre-orders) to try to develop an ASIC unit, each time they run low on cash they start advertising on the BTC forums to increase sales.
Hang onto your card, should BTC crash tomorrow your card is still worth something whereas an ASIC will be worth diddly-squat.
Supreme, care to back that up? Nobody else is predicting BTC to collapse.
Eventually when the ASIC-miners go viral, there will be a huge increase in hash rate (this is all assuming ASIC-miners do exist). With a huge increase in hash rate in won't be long until the BTC - USD exchange rate drops dramatically. I mean the whole system is based on the fact that a rare commodity is worth a lot. As soon as it's not so rare anymore, value should drop. But after people lose interest it should pick up again. It will never die down. just collapse periodically every now and then =) That's just my opinion =)
Everyone keeps asking why we only get out 3-4 per day and this is why. We have to do this manual process to each board and it's not simple. Add into this that we are human and have to take breaks and lunches etc. and hopefully you understand. So stop complaining. We only have this one machine but we plan to get in another one next week, and by the end of May we will have 4 of these machines rolling out 10-20 per week!
'No, when the hash-rate goes up the difficulty increases, not the price drops.
Well I've ordered one. Still not sure if it as a good call. I see difficulty going way up and possibly not being worth it by the time it arrives, which is July-ish.
yetand the total number of bitcoins will top out at 21 million bitcoins.
More than $1 billion worth of a digital currency known as bitcoins now circulate
on the web - Published March 29, 2013
Im trying real hard to understand the whole concept. But as per your dumbed down explanation, whats the point of creating these asic cards? Quick cash in on the hype? ( regardless of fake/fraud companies mentioned above). Even if they did exist, the value to speed ratio makes them pointless unless they don't become popular and only 10 people mining have them. How is the creator profiting from this project? His own personal stash of btc? Or huge amounts of advertising? A reserve banks tries to control the amount of money (value) in a country and the btc value is controlled by the time taken to mine a coin dependant on availability? Does the algorithm automatically detect the amount of coins mined and so slows the availability of coins down?
Sorry for all the questions but unless you've got 3 x more mining power than a lot of other people it just doesn't seem worth it.
Sent from my HTC One X using Tapatalk 2
July 2012, right? Just saying...
being worth it depends on really what you want to get out of it.
If you want to get rich quick .. probably not. If you want an extra grand here or there, than maybe. If you can afford to horde the coins even better.
If you look at the value increase over time, should there be no collapse over the next 4/5 years a coin could be worth $1000 [of course it could be worth $2] but thats a risk you have to take.
According to butterflylabs FAQ, orders now will start shipping from July. Im assuming thats this year, not last year
Being worth it for me would be breaking even. Im not looking to get rich quick but if the difficulty where to raise say 50x (Which could easily happen) then we wouldnt even be making a dollar a day with the basic unit.