Inside the Race to Build the World?s Fastest Bitcoin Miner

[danrok]

More on the latest in the world of Bitcoin mining.

See front page:
http://www.aoaforums.com/frontpage/t...oin-miner.html

Comments?

[danrok]

One of Butter Fly Labs' rigs in the wild:



BFL Jalapeno Unboxing and Demo.

[Daniel ~]

I could be wrong...but is seems that some fingers are going to get burned...

But I nothing about making money...sigh.":O}

[ThunderRd]

Well at least they look like they're going to ship something fairly soon, since the developer sample actually exists. It has been a long time since the preorders, and people were getting nervous.

[danrok]

Originally Posted by Daniel ~

I could be wrong...but is seems that some fingers are going to get burned...

But I nothing about making money...sigh.":O}

That one he has there costs $274.00, has about the same output as $5,000 worth of graphics cards, and consumes far less power, 30 watts compared to about 1000 watts.

So, quite a minimal risk.

[danrok]

One here on ebay:
Bitforce Butterfly Labs Jalapeno 5 GH s Hashrate Bitcoin Litecoin Asic Miner | eBay

$530 with 3.5 hours to go...

[cloasters]

The gummint decided that it really didn't like any kind of currency that didn't have its name on it. Hope none of our Members are involved with Bitcoin.

[Daniel ~]

Has the collective idiocy made bit coin mining illegal?

[danrok]

Originally Posted by Daniel ~

Has the collective idiocy made bit coin mining illegal?

I think cloasters may be referring to issues with Mt.Gox.

Mt.Gox - Wikipedia, the free encyclopedia

On 15 May 2013 the US authorities seized accounts associated with Mt. Gox after discovering that it had not registered as a money transmitter with FinCEN in the US.

But, bitcoin seems to be unaffected by that.

[Daniel ~]

So the beat goes on...":O}

[ThunderRd]

Interesting. What if I had gone into mining a couple of years ago?

Bitcoins banned in Thailand - Telegraph

[Daniel ~]

I saw something on RT News station...Missed most of it, but a man was complaining the Banks were blacklisting him , credit cards, savings accnts. the works because of his Bit coin investments and useage... didn't get much more that that...sorry...

[TrevorS]

No exposure/experience with bitcoins, but have run across references to bitcoin mining. Here's Wikipedia:

Bitcoin - Wikipedia, the free encyclopedia

Is this intended as a mechanism for cutting out government involvement -- a form of direct barter (no taxation)? Got to spend more time reading.

[Daniel ~]

The G.D. US congress is sticking it big fat nose into it, god only knows where that will go!

[TrevorS]

I suspect Bitcoin is nothing more than the common man's latest opportunity to waste his resources on something that will ultimately produce nothing of value. I had an opportunity to "invest" in an Nigerian slight of hand and decided against, is it my mistake? A possibility wasted? Is easy to parlay real money into something of little value, perhaps Bitcoin provides the latest opportunity?

[danrok]

Even "real money" can become worthless, as can some other form of currency such as bitcoin.

I think it would be fair to say that dollars and euros are the safer bet. But, the riskier bets are where the greatest gains (or losses) can be made.

[TrevorS]

Brilliantly said ! Though I suspect the physical U.S. Confederate Dollar is worth far more today than it was at the end of the U.S. Civil War! No greater bet it would seem, than the currently being resurrected derivatives (shades of Lehman Brothers, Chase, JPMorgan, etc -- thanks Wall Street), bitcoin is probably safer.

I was wondering about the USDollar as the latest Debt Limit crisis closed in on default (has Fitch forgiven us?) Perhaps the Euro really is the better bet, or maybe the Pound Sterling? Will China continue to buy USDollars?