cgi_man

It looks like Devonshire is the investment arm of Fidelity. Interesting to see some traditional finance guys making investments in the space.

It would be great if there was a single standard so unique drivers don't have to be built from scratch for every new bitcoin mining ASIC that's developed.

A few days after they posted they were considering it, they said they decided not to and will be continuing operations to US citizens with an added disclaimer.

The accounts seized were for Mutum Sigillum, their US subsidiary. The claim is that MS transferred funds from Mt Gox's Dwalla account to Mt. Gox's overseas account, which fits under the definition of a MSB in the US.

As far as I've seen no account holder's money has been forfeited... however they're clearly having withdrawal issues which may be related.

It sounds like they're not interested in those types of businesses though. They want to invest in the easily scalable.

The title was accurate. Blocks are being found at a rate of 1 every 5 minutes. There's no way the next difficulty jump will be enough to bring the speed to 10 minutes since it takes the average time over the last 2016 blocks. It's likely in a couple weeks the time to find blocks will be even lower than it is now if the growth rate continues like this.

There's a field to change the bitcoin exchange rate over time.

I like the calculator at http://mining.thegenesisblock.com/ better. Using the defaults for network and all that it seems to give around $23,000 profit for the year.

All of those functions existed before DHS. DHS can be abolished and those will be moved to other services.

The avalon chips the author is describing in the article are 110nm I believe.

Somewhat splitting hairs... it's adjusted to 10 minute blocks, and there's also a huge variability in how frequently they are discovered. Even if the average was 10 min, there are blocks found within the same minute, or with 30+ minute gaps.

The chip technology is an older process using 110nm technology. There are already several companies working on 40nm technology which will be more power efficient and be significantly faster per chip.

The creation rate of BTC is fixed every 10 minutes. More ASIC power does not equal more BTC.

Agreed... I don't really understand why it moves opposite of gold either. Does that mean that bitcoin is considered a high risk asset instead of a safety asset?

Yup, people are pretty crazy to be paying that much.