Blockchain Industries Discussion (former Bitcoin Brothers)


#124

Considering they haven’t launched yet and the btc halving coming up in less than a year, assuming they do bring on enough to double the hashrate, anyone that buys in between now and the halving is guaranteed to lose money, unless btc triples or more to compensate. BTC in and BTC out, its a guaranteed loss at this point.


#125

But if you pre order before the diff is adjusted on the hash spike you will get millions in btc with your rented exahash!!!

Pre order now or be homeless!!!||||||!!!

Now seriously if this is a scheme its genious.

They create the illusion that all hashing solutions will become useless and generate panic; people panic sell their own hashing solutions and preorder so they dont loose a spot in the only alternative in the future… Bitcoin brothers.

I liquidated my stuff in july and im too scared to get in again; its crazy


#126

Is the line up for the burrito brothers?


#127

I think its the Blues Brothers


#128

Apparently so. :slight_smile:

No pre-orders… they said so numerous times. I agree with @suchmoon, I think they are still fishing for (more) venture capital. http://bitcoinbrothers.de/sales

Some quotes:

and…

[quote]ll you lose is your spot on the pre-launch registration list. When you feel comfortable at a later point to go through the required KYC / AML procedures, you can re-start the process for the remainder of capacity offered to the open market at launch.

Obviously we are doing something radically different; you may call it “hashing 2.0” (or whichever meme it makes you think of), have already dropped several hints as to the disruptive nature of it, and we simply want to make sure we know who we share pre-launch information, capacity, and pricing ranges with.

We do not offer cloud mining contracts, but unrestricted, virtualized access to SHA256 hashing capacity on the Blockchain - anywhere from 1 GigaHash to multiple PetaHash per customer.[/quote]

I particularly like the sentence in bold. It could mean “anything”.

and finally:

[quote]No Pre-Sales

We are not pre-selling anything, nor taking money in advance (this business model is severely burned in all hashing markets). You will be able to purchase capacity when we make it available. The reason for the registration of capacity interest, and AML / KYC procedures leading up to it, is solely for planning purposes of the initial 350-500 PetaHash (current estimate) at launch, and to reserve a significant portion of it for customers who choose to commit to capacity in advance. We expect to sell out the initial supply at launch. Only customers who pass the AML / KYC steps qualify for reservations and rental purchases.[/quote]


#129

Yup, I was thinking that as well when i replied on the Havelock offering. I’m also thinking BB will offer a price lower than Havelock’s. Just my wishful thinking tho. :wink:


#130

I was considering buying in on the havelock offering, for personal and maybe get DMT some of that action, then I realized that it would be stupid to do so with the halving so close. I doubt I will be getting any of the BB action until they have actual hardware up and running and an open market I can buy into. I don’t like the idea of limited contracts, I have purchased the 1yr from genesis for DMT because the math says we should break even well before the next halving, but any contracts that are not “lifetime” are typically designed to take your money and not give any decent ROI.


#131

#132

Authentication without KYC

One of the most beautiful things about Bitcoin and blockchain technology in general, is that it does not require any personal information about its users, to authenticate their ownership. Whomever controls the private keys, which are lately represented by 12 word pass-phrases and other evolving security mechanisms, practically speaking represents ownership. This ownership is enforced by the decentralized consensus of the blockchain.

In centralized exchanges however, the ownership is enforced by the hosts of the exchange, and this seems to mean that they will revert to KYC practices of authentication. The problem that is becoming obvious however, is that holding on to this information raises their risk of being hacked - which is already high, since by definition they hold massive amounts of their user’s crypto currency funds.

If a user’s private keys are compromised, yes the money is most likely gone and they will have to start fresh with a new, completely different private key set. But if their KYC information is compromised, such as a picture of their passport, their phone number, social insurance number or any other such information, from any of the many agencies that hold a copy, well. Their financial security in such systems could be affected for decades to come.

This must have KYC reliant government and financial services rather nervous about the growing potential for fraud and identity theft.

^^ all of this :slight_smile:

For example if Bitcoin Brothers wanted to ensure those on their mailing list will be actually able to afford the mining power they inquired about they could simply make you sign an address that has sufficient funds in it to cover the amount in questions. Obviously that’s hard to assess if BB doesn’t provide people with an actual quote or even an estimate other “You’ll be able to mine BTC profitable all the way down to $100 / BTC”.

Sure but how profitable? 1 satoshi per hashlet?.. I mean, 1 satoshi per supercomputer?


#133

I’ve been watching the Bitcoin Brothers since their website first started. If they aren’t a scam operation they certainly do a good job of looking like one. Once they can show they are real I’d like to buy hashing power from them.


#134

I have some ocean front property in wisconsin I would like to show you :slight_smile:


#135

You could probably pull that off with how massive Lake Michigan and Lake Superior are…
When I first saw Lake Erie I thought it was the ocean and it’s way smaller than they are :smile:


#136

Your probably aware of the # of ship wrecks at the bottom of those lakes?
I believe that when the water is clear enough you can see some of them from the surface.


#137

The great lakes is like ocean, you don’t see the other side.
I did the round trip from Quebec to Alberta in a Tacoma Truck.
I stopped at Thunder Bay for the night.
Really beautiful view on the north side.
Wild and ( almost ) untouched nature, you need to watch out for deer when driving.
And very important, you do fill your tank when you see a Gas Station :satisfied:


#138

Reminds me of the road through the glades in southern florida. There are signs warning that this is the last station for X miles, if you run out of gas on that road its one hell of a trek to get back or to the next station.


#139

Hi, sent an email about a month ago about presale, but get no answer yet from BB. Are they serious to get started?


#140

Hope not; smells garza to me


#141

They’ve already said enough things which prove they don’t have the slightest clue what they are talking about, so I doubt very much that they’ve ever even set up a simple home miner, let alone got a data centre full of uber super computers which can utterly own the bitcoin network :slight_smile:


#142

what if the Bitcoin Brothers are actually the Garza Brothers? Those two goons are arrogant enough to think they can change the face of bitcoin. they thunk it once before. and I guess they did alter the face of crypto already too. solved…bitcoin brothers are josh and carlos.


#143

More like “coining brothers”. Although they did try to own bullshit their way into owning the Bitcoin network at one point.

http://blogs.wsj.com/moneybeat/2014/12/01/bitbeat-under-fire-gaw-miners-ceo-garza-takes-on-his-critics/

a mining operation that accounts for 50% of all new bitcoin computing power coming online.