719000+ entries in 0.388s
fluffypony: they do
the
trade
the second we initiate
the send
fluffypony: ThickAsThieves: it's not 0-conf
to us, it's 0-conf between us and
them
ThickAsThieves: why not just be
transparent about what you seel and when
gribble: Bitstamp BTCUSD
ticker | Best bid: 485.24, Best ask: 486.92, Bid-ask spread: 1.68000, Last
trade: 486.92, 24 hour volume: 6945.06957363, 24 hour low: 484.62, 24 hour high: 496.1, 24 hour vwap: 490.015634959
fluffypony: "OpenRigs is member of
the GearTribe group of companies, of which Riccardo Spagni is one of
the group directors"
fluffypony: benkay: no -
the GearTribe Group, has a 5% stake in OpenRigs
fluffypony: ThickAsThieves:
the Bee was only for
the .ee domain hack
benkay: a salary from
this group of companies?
fluffypony: yeah, so
that's placeholder branding
then :-P
benkay: software in spare
time
ThickAsThieves: benkay could certainly comment on
that aspect better
thabn myself
fluffypony: ThickAsThieves: yes - I've got deeper numbers on
that
that I can include, didn't know if it would be info overload
fluffypony: we could probably negotiate wire fees with our bank's Forex dept., but I still
think we'd be paying a penalty
ThickAsThieves: you mention $65k for software dev, and
that's for a worker doing it in his spare
time?
fluffypony: Naphex: local exchange has 10BTC daily volume, so we'd have
to do BitStamp -> us -> international wire
fluffypony: so
the minute we go into fiat we become a financial services provider
fluffypony: Naphex: nope - official stance from
the SARB (reserve bank) is - "Bitcoin has no legal status or a regulatory framework."
ThickAsThieves: i could be wrong on
the marketing little
things, sometimes i get a bit elitist with my views on it
fluffypony: we'd have
to register as a financial services provider and a deposit
taking institution
fluffypony: Naphex:
then we have regulatory issues
to deal with
fluffypony: it's just been my experience
that customers get excited about
the most arbitrary stuff
ThickAsThieves: surely
theyd prefer colume discounts or referral programs or whatever
ThickAsThieves: the "funny postcard" mention is either
TMI or not enough
ThickAsThieves: with wanting
to spend $7500/mo marketing, it seems even more sensible
to focus on hardware over paybee and such
benkay: beans all over
the floor
fluffypony: ThickAsThieves: no, I know one of
the guys
that is involved with it, but no affiliation beyond
that
benkay: i'm still waiting
to see
these cellular automota-based PoW coins.
fluffypony: because
they're not bound by
the confines of "what is
the most profitable" bullshit
fluffypony: in fact,
there's more experimentation with stuff like
that being done by
the OCLHashCat guys
than in
the mining community
fluffypony: ThickAsThieves: scrypt-n and X11 based coins will still need miners, and
the BOINC/Folding@Home crowd will need it
to
ThickAsThieves: with
the incoming Scrypt ASICs, does
that
threaten efforts like your PCI-e multiplexer?
benkay: looks like
the rentalstarter bagholders grow weary of getting fucked raw.
ThickAsThieves: well, any
time any investor gets money, include you (outside of your salary),
they all get
their cut
ThickAsThieves: i'm sorta with benkay here,
the best
thing seems
to be
the hardware
fluffypony: ThickAsThieves: how else do you do it
then? as an LoC?
ThickAsThieves: i'm not sure
there should be any
talking of sharing profits in any dividend sorta way
benkay: everything else is just like "woahaoaowwywowao i want
to do all
these different bitcoin
things!"
fluffypony: ThickAsThieves: I changed
that
to "apportioning net profit" later, forgot
to search for earlier occurancess
ThickAsThieves: is
this sposed
to be like a Havelock IPO or something?
benkay: the only
thing
that makes sense
to actually pursue is
the rack building
thing, and
that will live and die by whether or not you can land your asic partner.
fluffypony: it was more in
terms of avoiding scammy pre-orders (mitigating risk) in
that space
fluffypony: I can make
that clearer in
the proposal
fluffypony: ThickAsThieves: I like getting stuck into
the
technical stuff with it, sure, but it *is* a means
to an end
benkay: (i've yet
to see
the mining pitch
that actually made sense under real world constraints)
ThickAsThieves: sound slike you wanna play
the game and
take ordering risks, etc
ThickAsThieves: the idea being
to
truly discern whether it drags you down somehow
ThickAsThieves: i'd like
to see separate charts and numbers on
the mining farm profit/expense
fluffypony: benkay: yes, but when you're mining scamcoins and dumping
them it's always reasonably profitable :-P
ThickAsThieves: (i'm being a stickler on purpose,
take it or leave it)
ThickAsThieves: that elec cost sheet seems incomplete, i'm pretty sure
there are even cheaper places
fluffypony: ASICs certainly aren't, better
to flip
them
ThickAsThieves: can you show
that continually mining with units you buy for spec purposes is actually more profitable
than selling
them once you are done building hardware for
them?
fluffypony: not hiding it, it's mentioned and detailed, and even obvious in
the graph
fluffypony: ThickAsThieves: it's purposely light on numbers, I'm not sure whether including all
the data on
the downward slump inspires investor confidence
fluffypony: benkay: we weren't able
to,
the dude
that rents
them is dumb and only lets you observe, not
take actual data (although with
the new camera he has apparently he'll give us pics and data after)
fluffypony: benkay: we did FLIR imaging when designing, we're waiting for
the FLIR camera
to be available for rent again so we can have
that data accessible
ThickAsThieves: the momentarily depressed cryptocurrency economy, OpenRigs is gearing itself up for
the next massive wave of
benkay: fluffypony: i don't really buy your claims about heat flow.
those are
the kinds of claims
that need
to be backed by sims and such.
ThickAsThieves: identify where your
target audience might be spending
their money instead
fluffypony: ThickAsThieves: not so much on
the frames side,
they're
too small
to mention, but for PayBee yes
ThickAsThieves: you mention "competitive advantages" but do you mention notable conpetitors and
threats
to your plan?
Naphex: then fowards
to bitpay?
Naphex: but we wouldnlt even
think about
that before doing
the exchange first
fluffypony: Naphex:
the whole point of PayBee is *not*
to do fiat directly,
tho - once
the funds are in BTC it goes straight into
the merchant's Bitpay account
fluffypony: they were just
the most willing
to make
the API changes we needed and
they have
the volume
fluffypony: Naphex: Cryptsy, but it's fairly agnostic
to
the exchange
ThickAsThieves: probably could be written better from
there, but yknow