Bitcoin Forum

http://www.ebay.ca/itm/TekStart-Bitcoin-Miner-1-5TH-s-expands-to-10TH-s-/181148681633?pt=LH_DefaultDomain_0&hash=item2a2d4d85a1

So on ebay, i found this bitcoin miner for sale, not cheap as you can see, range from 332k$ or more.

Im wondering if anyone saw it or im the only one? this hit ROI in 10 days or so!

funny find. Seems too strange for a scam  ;D

yeah,

this look legit to me i havent done any research. but they claim they can deliver next month.

Has to be fake.

Its might be not fake, if he selling a june-july 2012 place, in BFL pre-order list.

Not selling the product, just the "right" to the product. If. When.  Emphasis on the If.

I like the Raspberry Pi interface idea though. That makes it so much more legit.

For that hash-rate/price there is really nothing strange about it. He's just selling a cad design using BFL 28nm chips. Good luck getting a hold of all the components before Christmas :)

Are they kidding.  $425,000 and your going to give me a $45 Raspberry?  WTF.  If it's worth so much build it and mine yourself.

? ummm

Seller's bio:

http://www.chip-start.com/about-us/management-team/

Even if this is real it sounds like they're making the BFL mistake of thinking they can just slap this together.  Stuff like this takes time.

g8bluSti -> We are trying to avoid the same mistakes as BFL!

This is legit guys.

Honestly, I have never seen such a bunch of skeptics. Did Avalon and BFL do that much damage? I would be interested because we don't want to make the same mistake.

Here's the deal ... ever since the telecom/dotcom bust of 2001, the VC/angel community has punished the hardware community by snubbing its nose to legitimate companies with great semiconductor ideas. They were then spoiled by the eBay/Google/Facebook/Apple software apps. On one hand, I don't blame them. If you invest $1 in hardware, you may get $3 back at best. In software, you can get $10 to $20 (or more).

So why would you want to invest in hardware? Simply put, you can't run software without hardware. The VC's don't see it that way or refuse to see it.

As a result, we (the hardware collective, like the Avalon's, BFL's, BitFury etc.) cannot get the $2M to build this stuff. Therefore, we have to resort to some sort of investment play. Avalon and BFL chose to pre-sell. Where they failed is that they do not have experience in this market like we do. So when they designed and built this and it didn't work - DOH! We have to get help testing and debugging it. I don't know these guys personally, but I think it's the classic S/W engineer vs/ H/W engineer battle. We see it every day. S/W guys think H/W is easy. H/W thinks the S/W guys are idiots. Until the day, one of them has to work on the other side of that "wall". Then they learn a quick lesson. But that's a topic for another day.

We are a US (CA) based hardware team with >150 years experience. We don't have $2M in the bank and we're not putting our collective homes up for collateral to the bank. At least not the married ones.

So let me clear up a few misconception on the eBay ad:

- We are looking for an investor with deep pockets. To build a 10TH/s system is not for the faint of heart. The $425K amount is just to take the FPGA protoype to ASIC and produce the first box (the investor gets to keep the box and generate revenue with it).
- Once that works, then we will either pre-sell the 10TH/s boxes for $95K each and then go to production, OR we will have the same investor take this to the next level and pony up the remaining $2M needed to go to production of the boxes. The investor would then either take a fixed number of boxes for themselves, or market the boxes themselves. Anything is a possibility.
- IN ADDITION, we will also sell our ASIC chip (10GH/s) on the open market to all who wish to build custom boxes (a la the Avalon method). Currently, the projected price is $50 per chip.

An alternative strategy is to presell the chip order and foprget about systems altogether. That said, the investor would need to come up with about $1.2M (instead of $2M).

Let me know if this is interesting to you. You know how to reach us.

Cheers

BFL claims their chips are on a 65nm process.

Yes but! Yes but! Yes, but you aren't seriously expecting to find Venture Capital on Ebay are you? I admire your chutzpah but I wouldn't spend that much on a perpetual motion machine without a demo...

Traditional fund-raising methods have been running in parallel for several months now.

Who does your chip design?
Have you considered kickstarter?

Not for my wallet this kind of amount... :p

interesting.

I am curious if someone will buy it :D

kICKSTARTER seems to be the right place for it....