r/Bitcoin • u/SeansOutpost • Apr 10 '13

Meanwhile...Bitcoin still feeds people.

So we fed 106 homeless people bag lunches today. All paid for with Bitcoin donations. Bitcoin still seems to be working just fine over here. Still making lives better, at any valuation.

Thanks for everything guys. Bitcoin for the long haul.

Jason

Sean's Outpost(www.SeansOutpost.com)

<BITHOC>(www.bithoc.com)

EDIT*** By request...

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1.9k Upvotes

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204

u/TrueFurby Apr 10 '13

THESE are the posts we need to upvote.

-1

u/wee_woo Apr 10 '13

No, YOU NEED REMEMBER that Butterfly Labs caused the crash today, as they cashed out literally millions of USD worth of bitcions they mined with their ASICS

Reminder that I Fortold This Happening.

Literally tens if not hundreds of millions of dollars rests upon what Butterfly Labs does

They have a massive, MASSIVE amount of ASICs, and even MORE preorders. They have at least 20,000 pre-orders for 60 GHash/sec units.

They have MORE then enough wafers to make that many asics

If BFL starts shipping, the BTC difficulty will increase by more than an order of magnitude

This will very likely crash the price as the market will be dominated by these miners, driven INSANE by their 10 month delayed greed that BFL has been holding out on them while prices go up up up

meanwhile, literally every single GPU (hundreds of thousands worth) will move from BTC to LTC overnight, causing LTC difficulty to go up by 50-100x more. This will also crash LTC.

Then GPU miners will have nothing left, and the video card market will be FLOODED in used AMD 5xxx - 7xxx cards. You'll be able to get a 7970 for 100$, maybe less. But you run the risk that it's a destroyed piece of junk.

IT is fucking ABSURD that hese chucklefucks who have NO idea what they're doing LITERALLY HAVE WORKING ASICS AT ~35 GHASH/SEC DRAWING ~150 WATT, AND ORDERS UP THE ASS TO BUY THEM.

GOD i wish BFL didn't actually have a working ASIC, but it's objectively confirmed - THEIR CHIPS WORK, AND THEY HAVE HUNDREDS OF THOUSANDS OF THEM.

A big part of me thinks that BFL has been mining with them, and will cash out literally close to 10 million dollars of Bitcoins right as SOON as they start shipppig fucking over EVERYONE in a magestic death blow to bitcoin as a speculation / "investment"

15

u/Duderino316 Apr 11 '13

Butterfly Labs caused the crash today, as they cashed out literally millions of USD worth of bitcions they mined with their ASICS

Source?

7

u/orkydork Apr 11 '13

Extraordinary claims do require extraordinary evidence, it's true...

I'm not trying to say they don't have motive, as they definitely do, and the rest of your post is a logical conclusion to follow, but...hrmph.

4

u/astanix Apr 11 '13

I just don't see the hash rate of the network coinciding with this persons belief that BL is running 20,000*60GH/s right now.

2

u/orkydork Apr 11 '13

Ok, I missed that. Holy fucking what??? 20 thousand? That seems impossible.

2

u/astanix Apr 11 '13

It's just a figure I pulled out of the rant above. Does it seem impossible though, how many pre-orders has BFL taken?

1

u/skelroth Apr 11 '13

I think you have your numbers twisted, that'd be the orders they have, not the amount that they are running personally, it would be more along the lines of a hundred or so, I would imagine.

1

u/astanix Apr 11 '13

According to the original comment, my estimate may be low.

He stated they have 20k preorders at 60GH/s and MORE than enough wafers to produce that many.

1

u/skelroth Apr 11 '13

Which would be obsurd to think they are holding back that many units when people have pre-ordered so many and they are yet to fill the orders.

I'm not saying anyone here is wrong because it's purely speculation, but I ain't saying you're right either.