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    <div class="moz-cite-prefix">I'm really interested in how ASICs are
      going to affect the bitcoin market, their efficiency compared to
      GPUs are insane, and once they start shipping in high volume...<br>
      <br>
      Though I agree with those like Lynn, get yours early enough and
      MAKE SURE YOU CASH OUT (aka: don't ride the bubble forever), you
      can make some really good money.<br>
      <br>
      Be one of the stragglers and you got yourself a $x,xxx paperweight
      (not sure if these ASICs are useful for anything else).<br>
      <br>
      <pre class="moz-signature" cols="72">William Roush</pre>
      On 9/2/2013 4:53 PM, James Nylen wrote:<br>
    </div>
    <blockquote
cite="mid:CABVa4Njd4izff22iVzqJeL4_8uWkucsd2YvAS0K2EMqb5aU-Gw@mail.gmail.com"
      type="cite">
      <div dir="ltr">Lynn,
        <div><br>
        </div>
        <div>Have you seen Buttcoin?  <a moz-do-not-send="true"
            href="http://buttcoin.org/what-are-buttcoins">http://buttcoin.org/what-are-buttcoins</a> | <a
            moz-do-not-send="true"
            href="http://buttcoin.org/why-should-i-invest-in-bitcoins">http://buttcoin.org/why-should-i-invest-in-bitcoins</a></div>
        <div><br>
        </div>
        <div>Also, I would think that an increase in difficulty would in
          general lead to an increase in price, which would serve to
          keep mining reasonably profitable unless newer devices come
          out that are much more efficient.  Your thoughts?</div>
      </div>
      <div class="gmail_extra"><br>
        <br>
        <div class="gmail_quote">On Mon, Sep 2, 2013 at 1:26 PM, Lynn
          Dixon <span dir="ltr"><<a moz-do-not-send="true"
              href="mailto:boodaddy@gmail.com" target="_blank">boodaddy@gmail.com</a>></span>
          wrote:<br>
          <blockquote class="gmail_quote" style="margin:0 0 0
            .8ex;border-left:1px #ccc solid;padding-left:1ex">
            <div dir="ltr">Mike,
              <div>I am doing quite well with my mining operations.
                After 2 days of opeating my ASIC, I have managed to
                collect around 1 BTC which is selling for around $145
                right now. Say what you what you will about "Bit-Con"
                (Love these silly names by the way), but I don't know of
                any way where I can generate $60 to $70 per day doing
                absolutely zero labor. </div>
              <div><br>
              </div>
              <div>John,</div>
              <div>To answer your question about what happens once the
                supply of bitcoins are "mined up".  The algorith gets
                increasingly difficult as we approach the end of the
                supply.  Likewise, the reward for each block decreases
                making it even less rewarding.  But, since each
                transaction of bitcoins is recording into the blocks,
                the miners will then have the option of charging a
                transaction fee.  The option is there now, but since the
                reward for finding blocks is so profitable right now,
                most miners and users are not including transaction
                fees.   You can read more about transaction fees here: <a
                  moz-do-not-send="true"
                  href="https://en.bitcoin.it/wiki/Transaction_fees"
                  target="_blank">https://en.bitcoin.it/wiki/Transaction_fees</a></div>
              <div><br>
              </div>
              <div><br>
              </div>
            </div>
            <div class="gmail_extra"><br>
              <br>
              <div class="gmail_quote">
                <div>
                  <div class="h5">On Mon, Sep 2, 2013 at 9:13 AM, Mike
                    Robinson <span dir="ltr"><<a
                        moz-do-not-send="true"
                        href="mailto:miker@sundialservices.com"
                        target="_blank">miker@sundialservices.com</a>></span>
                    wrote:<br>
                  </div>
                </div>
                <blockquote class="gmail_quote" style="margin:0 0 0
                  .8ex;border-left:1px #ccc solid;padding-left:1ex">
                  <div>
                    <div class="h5">
                      <div style="word-wrap:break-word">
                        <div>
                          <div>On Sep 2, 2013, at 7:00 AM, <a
                              moz-do-not-send="true"
                              href="mailto:chugalug-request@chugalug.org"
                              target="_blank">chugalug-request@chugalug.org</a>
                            wrote:</div>
                          <blockquote type="cite"><span
style="border-collapse:separate;font-family:Helvetica;font-style:normal;font-variant:normal;font-weight:normal;letter-spacing:normal;line-height:normal;text-align:-webkit-auto;text-indent:0px;text-transform:none;white-space:normal;word-spacing:0px;font-size:medium">Re:
                              ButterFly ASIC Single</span></blockquote>
                        </div>
                        <div><span
style="text-indent:0px;letter-spacing:normal;font-variant:normal;text-align:-webkit-auto;font-style:normal;font-weight:normal;line-height:normal;border-collapse:separate;text-transform:none;font-size:medium;white-space:normal;font-family:Helvetica;word-spacing:0px"><span
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                                </span>In my library I have an excellent
                                book, "Supplying the Mining World."
                                 which to me neatly sums-up how
                                "Bit-con" actually works.  The people
                                who really made a fortune during the
                                California Gold Rush days were
                                hardware-store proprietors, like Leland
                                Stanford and Mark Crocker (who went on
                                to do quite well with the
                                transcontinental railroad), and
                                photographers.  Nearly all of the
                                hopefuls never made a dime, but they all
                                bought shovels and sluice-pans in the
                                big city, and they all wanted to have
                                their pictures taken.</div>
                            </span><br>
                            As long as this device works as advertised
                            ... it will accelerate the task of solving
                            this computationally-difficult yet-solvable
                            problem ... then it is in the eyes of the
                            law as legitimate a thing to sell as any one
                            of P. T. Barnum's tickets to see "the
                            amazing egress."</span></div>
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