BITCON... WHY its totally FLAWED

Discussion in 'Digital Currencies' started by 1for1, Aug 6, 2012.

  1. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    True. Most men that wear suspenders have rather large stomachs, necessitating the use of some other form of support.

    Or they are crossdresser$. Oh, did I use a $ instead of an "s"? Now what was I thinking? :p
     
  2. pro$pector

    pro$pector New Member

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    Nah you got burned, admit it...you're pretty much on fire right now. :lol:
     
  3. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    So now you gonna spam Beltcoins?
     
  4. pro$pector

    pro$pector New Member

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    Why not? I made money mining/dumping Hobocoin and Lebowski's lately...the alt market has gotten really ridiculous.
     
  5. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    Thank you, keeping a keen and critical mind is paramount to retaining a high level of intellect, or as you like to put it, being "on fire".
     
  6. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    WTF is a Lebowski?

    Vinnies has the Beltcoin exchange covered by the way.
     
  7. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    :lol: Very modern. Because no one thought about wrapping a piece of leather or cloth around their waist until at least the Bronze age. :p
     
  8. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    No, it's just the people I talk to on the internet who are evil.
     
  9. mr-dead

    mr-dead Member

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    Up for grabs is 3 x 13.34 GH/S shares (just over 40 GH/S total) of a KNCminer 400 GH/S Jupiter ASIC miner.

    KNCminer are at the cutting edge of ASIC miner design, using a 28nm technology and have stated the miners are likely to outperform the 400GH/S stated performance by quite some margin, this means each share will have more speed, generating more Bitcoins!

    The original group buy consisted of 15 X 400 GH/S Jupiter miners and my shares are from the first miner with a guaranteed DAY 1 DELIVERY!, I'm sure you are aware with ASIC miners time is of the essence as difficulty ramps up.

    The go live date for the miner will be next month and the miners are hosted by KNCminer themselves in a secure data center in Sweden.

    The group buy is run by the well respected member of Bitcointalk - Soniq.

    All you have to do is sit back and get payments made to your Bitcoin wallet weekly to start, moving to fortnightly.

    The group buy is professionally run with an online spread sheet listing all the details, a Skype group with daily updates and a message system set up through Bitmessage.

    The advantages of the shares option -

    No import duty
    No expensive electric bills to pay
    Hosted by the ASIC manufactures in Sweden ensuring maximum up time should a hardware problem arise
    Held in a secure data center
    You have the option of converting your 3 shares into 300 shares and list them on Bitfunder enabling share trading

    Please note there is a small fee to pay monthly to cover hosting costs this however is far cheaper than paying electricity costs in this country


    Here is a link to KNCminer
    https://www.kncminer.com/categories/miners

    Open to offers in Bitcoin, Paypal or Bank transfer (im in the UK)
     
  10. mmm....shiney!

    mmm....shiney! Administrator Staff Member Silver Stacker

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    ^ does it come with a Dictionary?
     
  11. mr-dead

    mr-dead Member

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    lol,

    basically its 40 gigahash a second worth of asic miner shares, hosted by kncminer in Sweden, going live next month.

    Ideal for newbies as you just sit back and get bitcoin pay outs on a regular basis to your bitcoin wallet.
     
  12. Dabloodymess

    Dabloodymess Active Member

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    Well why not give a ballpark price then? No noob is going to know enough to make you an offer...

    Edit: Well if I priced it on 40% of the cost of the 100GH/s machine in your link it would be $798, but then you do never get to own the machine.... so the real value of these shares is a big ??? for me.
     
  13. mr-dead

    mr-dead Member

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    Looking for 11 bitcoin or equivalent in cash. Logic being you get 1st day delivery thus around 2 months extra mining over placing a new order.

    Those first 2 months will generate significantly more bitcoin due to the difficulty rises.

    With regards to never owning the unit, it is run until such a time where it becomes unprofitable due to running costs so irrelevant if you own it or not.

    Return on investment will be around 3 - 4 weeks.

    Reason for sale is I have shares in multiple group buys so trying to get them all in one to make it easier to manage.

    P.s. check eBay and price up the cost of ghash per $, and will confirm this is a fair price.
     
  14. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    In every other investment a good sign the buyer is being barrelled is when they say "Buy now or you'll miss out. Time is critical." :p
     
  15. mr-dead

    mr-dead Member

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    Bitcoin mining is time critical, difficult is growing exponentially. Have a Google search why people were paying 45 grand for a series 1 Avalon miner that cost 2 grand new.

    What earns you 4 bitcoin a day now will earn 1 bitcoin a day in a month or two time
     
  16. Altima

    Altima Well-Known Member Silver Stacker

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    So doesn't that mean that anyone who isn't in BitCoin by now has already missed the boat?
     
  17. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    Not if you buy mark's shares now. But be quick the BTC won't last long.
     
  18. mr-dead

    mr-dead Member

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    I've invested my annual bonus in assic shares with just over 200 gh/s due to go live next month. I'm confident I'll make a nice profit before Xmas with it slowing down afterwards.

    Question now is do I buy gold with the bitcoin or hold on to them?
     
  19. bordsilver

    bordsilver Well-Known Member Silver Stacker

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    I should probably add this to my previous posts ;)

    [​IMG]
     
  20. Altima

    Altima Well-Known Member Silver Stacker

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    Haha. I hope you make a killing with your investment mark, but I would stick to gold/silver.

    Call me old-fashioned, but I like to physically take ownership of the stuff I buy. :)
     

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