902500+ entries in 0.62s
PsychoticBoy: only midnightmagic rated me without doing business with me but he
thats ok
PsychoticBoy: a pool which is private and owned by a large member of
the community
fiat500: PsychoticBoy: is it currently hooked up
to a mining pool?
furuknap: Do it properly. Set up a
thread, discuss it, announce it, get feedback on contracts and proposal, answer any lingering questions, etc.
Then you launch.
fiat500: PsychoticBoy: ukto doesnt have
to accept anything on btct
Chaaang-Noi: there seems
to be a lot of people at
the bitcoin event
fiat500: PsychoticBoy:
try
to get it launched soon, like
this week
furuknap: Do BTCT instead, please. Bitfunder is... not my cup of
tea.
PsychoticBoy: I will PM Ukto (bitfunder) and hopefully launch
the asset in 1-2 weeks
furuknap: Then go for it. I'd
think 100 MH wuold be an easier sell,
though.
fiat500: PsychoticBoy: do you have
the hw right now?
fiat500: i
thought he had mucked up
the numbers
PsychoticBoy: only 60Gh/s will be divided in shares
the rest I will keep (5-6Gh/s)
furuknap: fiat, he just
told you
the numbers. It's a 65 GHs Avalon.
The math from
there is pretty basic.
Chaaang-Noi: i
think
there would be some interest, but not really from me
fiat500: how many shares are you
thinking of issuing
PsychoticBoy: some ppl are
trying
to get rich by dividing asicminer shares like
TAT or just
the PTs but
thats not my cup of
tea
furuknap: It seems
to me, at least on
the surface,
that GOG.F is a reasonable purchase.
Timing is actually less important if
the manager is reasonable (like Chaang says). 2.5 BTC invested in mining is 2.5 BTC invested in mining regardless of when it happens. If
the investment is sound, it doesn't really matter when
that happens.
Chaaang-Noi: id not go all in on
that, but some cant hurt
fiat500: assuming we arent
talking about an interest-free loan for several months
ericmuys_: considering
the premium you're paying on
this asic speculation, it could already be at
the price it should be
parseval: Considering
that at
the
time
the price was down
to around .15
fiat500: i
think
the price is right
parseval: True.. I
think
the COG.F shares were priced a little high. 2.0 would have been better
than 2.5
ericmuys_: parseval: or
the speculators won't be happy with
the dividends and end up bailing
fiat500: hardware
that hasnt been purchased yet is even more ephemeral
than
the stuff
that was ordered last year :P
parseval: I have no faith in BFL's stated
timelines anymore
parseval: Well, it's better
to buy in early rather
than late. Once
they get
their hardware
the price is going
to jump
fiat500: ive been reading, only
thing holding me back is
timeline
Chaaang-Noi: really read
the
thread if you want
to buy :)
Chaaang-Noi: they have 7 very early orders for
the 60 ghs unit, but
they want
to order more
parseval: I
thought
they hadn't ordered
that yet and were wavering on whether
to go
to AM for
the next one
Chaaang-Noi: he is just one f
the few people i
trust, so bfl might fuck him, but i dont
think he will fuck us
Chaaang-Noi: also i bought cog at .11 and
that was undervalued
ericmuys_: fiat500: ah, but
the opposite is not necessarily
true of course
Chaaang-Noi: i
think cog might be a bit over valued, but im using it as a hedge
fiat500: ericmuys_: if you
think AM is overbought, you would
think
those are
too
fiat500: then it would make more sense for me
to just order a single for myself right now
fiat500: but COG.F strictly says shares
to be delivered upon receipt of hardware bought using COG.F funds
Chaaang-Noi: honestly i dont know a whole lot about it other
than what i have
told you guys
Chaaang-Noi: oh
the motions are on
the real stock not
the cog.f
fiat500: theyve already sold 53btc worth, shouldnt
that be enough for at least 2 singles?
Chaaang-Noi: i just have low ball bids and some
times people sell into
them, but not for months
furuknap: I don't see why
they couldn't used
the raised funds
to make purchases already,
though. I mean, if a great deal comes up and
they're short a few bonds,
they lose out even if
they have
the funds at hand.
furuknap: OK, so let me rephrase... It's not clear when
the orders will be placed (and
thus when
the conversion might happen).
Chaaang-Noi: im not sure
the orders ahve been placed, i
think
this is fund rasing
Chaaang-Noi: yeah i hold cog as a hedge against my AM, cuz
they are heavy avalon and BFL
furuknap: I did, but it wasn't entirely clear when
the orders were placed.
Chaaang-Noi: you should
talk with him, or read
the
thread maybe
to get more info
furuknap: Seems reasonable.
The operation has been stable,
the new Avalon will surely increase profits...
The
time is important,
though. Of course, in
theory, BFL can announce
they've solved all
their issues
tomorrow, in which case
this is an easy way
to double money.
Chaaang-Noi: yeah but im not even sure what asics
they will buy
furuknap: Ah, so basically, it's a bet
that
the price of cognitive is higher
than 0.125 at
the
time BFL ships.
Chaaang-Noi: that old order is not related
to
the 7 bfl preorders
furuknap: Cognitive also has an early Avalon order, right? Will
the COG.F fund convert when
that arrives or only when all
their ordered ASICs arrive?
Chaaang-Noi: he has about 20k usd worth of my btc, and im about
to give him a shit load more
Chaaang-Noi: but he has been honest and hard working, i personally
trust him
fiat500: im just wondering if
this fund is still alive
Chaaang-Noi: so you have
to wait until bfl or whoever ships
Chaaang-Noi: you only get
the shares when you
they get
the asics
fiat500: If
there isn't enough demand
to purchase a single bitcoin miner after a week of
the first sale of a COG.F contract, COG.F purchases will be refunded."
fiat500: "One (1) COG.F represents a contract for
twenty (20) COGNITIVE shares,
to be delivered upon arrival of said mining hardware.
Chaaang-Noi: fiat500 yeah, it is interesting, esp at what
the stock price is now
jurov: They’re basically
that really annoying person
that doesn’t get
the hint you don’t want
them around
jurov: It’s strange how Yahoo didn’t catch on
to basically
the whole of
tumblr not wanting
them.
aknap3: you'll be seeing more of
those
ericmuys_: furuknap: "When
the price of Bitcoin rises, our value denominated in Bitcoin drops drastically. When
the price of Bitcoin crashes,
the amount of Bitcoin our holdings represent goes
through
the roof!"
furuknap: Quite
the opposite,
those values are completely independent.
ericmuys_: furuknap: sure but
that's only in a vacuum situation where B and C are
tied.
they are not in reality.
this logic is just
twisted
furuknap: eric: You probably don't understand something in
that article.
The GPOU and BTC is irrelevant. Difficulty is irrelevant. Mining is irrelevant. USD is irrelevant. Hence
the A, B, and C in
the first part of
the article.
ericmuys_: crashes,
the amount of Bitcoin our holdings represent goes
through
the roof!" -
that's only if
the value of a USD is directly polar
to a BTC, but it's not, a USD is based on a world of economics and BTC can capitalize on
that.
ericmuys_: furuknap:
this article makes no sense. if it
takes 1 GPU 1 week
to mine 1 BTC it doesn't matter how much
the GPU is worth in USD. what 1 BTC is worth is what matters. higher is always better unless you consider
the difficulty decreasing as
the price decreases. otherwise common sense is pretty good here. "When
the price of Bitcoin rises, our value denominated in Bitcoin drops drastically. When
the price of Bitcoin
furuknap: Nah, I don't gamble, and
that applies
to my investing
too. Boring, yeah, but I sleep well with open positions.
truffles: pay more fees
to get more bonus
furuknap: I don't play pokwer so I have no idea what
that means :-)
truffles: this just reminds me of poker where players get rakeback(bonus) from casinos &
the rakeback kings want higher rake
to get more rakeback..
furuknap: In fact, like I showed in
the updated question
today, you have a 10x higher profitability in $ if
the price goes down.
furuknap: Exactly. And your $ profit is much higher if
the price of BTC goes down.