Bitcoin Forum

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https://www.bitex.co.uk
BitEx Ltd
Company No: 08719832
VAT Registered: 177659452

As a long time member of bitcoin talk although an infrequent poster, I am please to announce that after several months of work quietly in the background we BitEx Ltd have a new hardware mining unit designed to compete with all levels of existing hardware, both in terms of performance, power economy, and versatility we believe this coupled with our dedicated belief in providing both ongoing support as well as uptime guarantee's that you will find hard to believe.  We understand that many of you will be skeptical when you see our claims, so we would like to invite the entire community to raise any questions or concerns and give us the opportunity to address those before we begin taking any deposits for our offering, as well as giving our prototypes time to reach completion to a complete production specification, that we can demonstrate our feat of engineering and begin what we feel will be the start of a new era of mining technology.  Will will be offering a limited number of pre-orders prior to the prototypes completion to assist the final costs of making our dream a reality.   For this limited number of initial orders as a show of appreciation of your faith in our commitment to this project, we will be including a free years remote monitoring and support with an uptime guarantee on this batch as well as a discount you may apply to a future order.

https://scontent-b-lhr.xx.fbcdn.net/hphotos-prn2/t1/s403x403/1623775_227871797336954_531502088_n.png
The bitEX Independent Mining Unit represents a first in crypto currency hardware offerings, an out-of-the-box solution combining ease of use, groundbreaking versatility, bleeding-edge performance and a truly remarkable energy economy.

The IMU™ is bitEXs premier consumer VMD offering, the independent in the name relates to the ability of the user to alter what crypto-currency the IMU mines as many times as the user wants, and above all, easily.

The Independent Mining Device utilises components which make no compromise on performance or quality. architecture designed to designed to maximise its performance while consuming no more than an individual lightbulbs level of power. A system designed with home users in mind; competitively powerful, energy efficient and aesthetically pleasing.

Crafted in a manner befitting it's capabilities, the IMU has been designed and manufactured in North America. Complimenting the IMDs innovative capabilities, build quality, durability, and uptime are core design requirements; the Independent Mining Device is built to MilSpec standards and unlike many mining hardware offerings, designed to be a distinctive and durable standalone appliance, unobtrusive in a living space as well as the computer room.

Designed with broadly divergent spectrum of users in mind, the IMUs friendly interface provides an ease of use with the ability to administer every aspect of the process, and most excitingly, switch between all known coin protocols with unique simplicity.

The Independent Mining unit has been conceived to achieve the greatest ROI for the user combined with an ease of use of use and accessibility previously unseen in mining hardware offerings.

BitEX aims to show the market how a system should be designed and built with simplistic design, quality, and affordability coupled with an unparalleled level of support. We challenge the market to meet our immutable high standards both in production and support.

IMU MK.I
https://bitex.co.uk/images/IMU.png
Hash Rates
S-Crypt   3 MH/s
Sha-256   10 GH/s
XPM   2,000,000 PPS
BitEx M2 coin   TBC
Power   50W

Hardware Features
Dual Core ARM M4/M0 Cortex CPU
Altera Cyclone V GX FPGA
Temperature Monitoring
7" Colour Touch Screen interface
Push Button Function
Small Form Factor (16cm x 10cm x 5cm)
Wifi
Ethernet
ZigBee
Lifetime Warrentee

Software Features
Mine two concurrent coin streams
Autoswitch to highest profit streams
Coin Exchange API intergration
Wallet API intergration
Customisable Interface

Optional Extras
Remote Monitoring
SLA driven support contracts
bitEX MultiCoin pool

https://scontent-a-lhr.xx.fbcdn.net/hphotos-ash3/t1/264557_227871904003610_1955021226_n.jpg
IMU MK.II
Hash Rates
S-Crypt   6 MH/s
Sha-256   20 GH/s
XPM   4,000,000 PPS
BitEx M2 coin   TBC
Power   ~65W

Hardware Features
Dual Core ARM M4/M0 Cortex CPU
Altera Cyclone V GX FPGA
Temperature Monitoring
10" Colour Touch Screen interface
Push Button Function
Small Form Factor (16cm x 10cm x 5cm)
Wifi
Ethernet
ZigBee
Lifetime Warrentee

Software Features
Mine two concurrent coin streams
Autoswitch to highest profit streams
Coin Exchange API intergration
Wallet API intergration
Customisable Interface

Optional Extras
Remote Monitoring
SLA driven support contracts
bitEX MultiCoin pool

In addition to these what you may think are outrageous claims, I want add my sincerest hope that we will exceed all expectations, deliver early, and if possible make savings in production and pass these on to the community. We hope to bring into alignment the name BitEx with an unsurpassed Quality in both Hardware and service.  I open the floor to any question you may have.

Many Thanks

Aldur1
-CEO BitEx Ltd

What an incredible 3D render.. This looks promising.

haha fucking jokes

Hi folks, just to drop in and say hi. A lot of people will know me from my other work, and from bitcoin-otc. I'm a major shareholder / director in bitEX and am working hard to make this project a reality :)

ZigBee? Really? Did you throw that in there just to see if we were paying attention?

It would be interesting to see if there was an ' entry ' level version that could be made as a testbed for the technology.  I would be willing to shell out 0.04 BTC ( including shipping ) for a USB version that got at least 4 GHash no matter what the power/heat issues are.  Obviously the wireless and display would not be needed as the ARM could just talk to a ' local host ' stratum proxy running on the system that is connected to the net.  Just a thought and yea, still so new that I've only managed to buy 1 AntMiner with all the coin i've managed to mine so far.

So IF this is real, this is using the GridSeed chips I'm assuming. That stats seem to match exactly to those chips, which I believe still has a lot of glitches on them and need a lot further refining.

Yes its only a 3D render at this stage, but whats in a case, its the hardware that is inside it that counts, Once we have a final case produced with a working unit we will happily share a full set of images.  Until then the best I could offer is some images and video of our development setup and maybe some early screenshot of the software we are putting on there.


Actually no, I will confess it was a last minute add-on to the device and it was at the request of a recent addition to our engineering team wanting to work on the interesting new ideas for Home Automation tech which as another interest of  mine I was immediately sold, I wont make any promises on a future offering here, but the concept sounded fun, and it potentially adds even more versatility and functionality to an already very versatile offering.


This isn't an option with these specs, but our designs could be adapted potentially, if there is a significant interest then we will investigate the option of building these units.  And see if its a viable option to produce.

Thank you for that insight, I hadn't seen those chips until I searched them just now, an interesting concept. But completely different to our design.  As I said, our design is unique, and is not similar to any other mining devices available on the market at this time.  If you wish to discuss in more technical detail our architect will happily answer any questions you may have.

ill write here just to keep eye on it.

Please do, there is also the Watch button but we welcome any comments or questions.  We are keen to set a new precedent for companies developing Crypto-Systems.

You say that it's a completely different design, yet, it's already been done, with the same exact specs I might add.

GridSeed is already starting work on their second generation chips while working out the kinks of the first gen.

If you guys are not using those chips, could you please go into some details as to what you are using/designing?

I will happily explain to the best of my knowledge, however our architect will probably be able to answer more to your satisfaction so I will also forward your query on and get a response from him as well.  If you review the specification I listed both here on this forum, you will notice that we are using Altera Cyclone V GX Chips, and we are using the top level of this chip as well to provide the best possible performance we can.  In a very simplistic way the core difference between the MK.I and MK.II devices is that the MK.1 will include two boards with two Altera Chips, this accounts for the 2 Crypto Stream Concurrency we are offering on this device, likewise the MK.II is made up of four of these boards. Accounting for the opportunity to based on the most profitable coins Mine up to 4 different coins at once or any combination.  Initially we will not be offering the possibility to mine  multiple coin threads per board e.g. S-Crypt and SHA-256 from a single chip as there are some major complexities this poses. That's not to say we wont develop this in the future. but its not a feature on the immediate road map.  So essentially with a MK.I device the following would be possible:

Board 1: Merged Mine Sha-256 Coin
Board 2: Merged Mine S-crypt Coins

Or

Board 1: Merged Mine S-crypt Coins
Board 2: Mine XPM

Or any combination, these will also support any future stream updates we release for our systems.  We are aiming to deliver additional streams for release but cannot at this time commit to any one in particular.  We are also in the process of developing a multi-protocol pool, were we will offer customers the right to merged mine any stream which we support going forward, with no mining fee's charged to them for their devices.

The other part that makes our device unique is the system that will be controlled by the ARM processor this will provide the functionality for new instances of existing streams to be dynamically added by the user, or even added on an API call from say http://www.coinwarz.com/, so both units have already got both SHA-256 and SCRYPT streams working.  This system will also allow users to specify mining rules and profitability rules, software based on a trading bot I wrote back when I  initially started out in bitcoin.  And all our systems will offer an interface for you to develop or own tools and software to either integrate or bypass these features.

You guys seem to have a lot of good ideas, but to me it seems it might be a bit of an over reach. Those ideas are very complex to implement without hundreds and thousands of possibilities of errors. I'm sure that those ideas CAN BE implemented to work perfectly, but I don't think it's feasible in the time frame it is expected for a Crypto Currency world.

3 and 6Mh/s for Scrypt might seem great right now, but with a lot of other ASICs coming out for Litecoin, it won't have much of an impact months from now.

What time frame are you guys expecting to have an actual product?

I believe our team is aiming to ship by May 1st, as I said this has been ongoing for some time, and we are offering software upgrades to the devices as we improve them.  So yes its possible it wont be perfect the first time around.  But we are designing what we feel is the serious future of this economy if it is to be cost effective in the long run.  And I will even add that our target for May the 1st has an obscene amount of time built in for slippage,  I wont admit how much as it will rob me of a chance to demonstrate our dedication to this goal.  We hope that by inviting the entire community to ask questions and make suggestions and participate at this point we can at least rule out any really stupid mistakes and make sure we can give the entire market the best products and services going into the future.  Everyone involved in BitEx is is a die-hard Cryptocurrency fan.  And we will do everything in our ability to deliver this.  In fact I am so confident in our design I left a comfortable job in the City to pursue this venture.  So please let fire all your questions lets build the future of the global economic system as a community, and let us all contribute in way any way we can.  Other things we are doing and planning to release opensource, is an augmentation that will hook into existing crypto networks, also in the prototype phase. http://fidanet.org/, this is not our only development.  We have also setup temporary camp on freenode in #bitex for live Q&A, this will be our temporary home while we setup our IRC server.

Well I am very interested in this project of yours. I will be staying updated with this thread, and you can surely expect more communication from me in this thread.

I'm curious as to what price range you guys have in mind for these units. Can you give some rough estimates as of this time? I know prices can change a lot from now until final product is released but I would just like a ballpark figure as to what you guys are expecting for your product that is scheduled to be released in May?

Do you guys plan on accepting BTC/LTC based on dollar value (e.i. $500/ whatever current value of BTC/LTC)? Or just price them straight to a BTC/LTC amount regardless of conversion rate?

Also, when you guys do have some sort of prototype or beta testing products, could I be considered to be a beta tester?

While we do have some numbers in mind based on our costing of the system and again, in this we have been as pessimistic as we can be by ignoring all potential economies of scale we might receive and then also providing a slush fund in the price to cover any incidental work that may come up in the final stages.  I want to be completely transparent on this, we realistically expect the production costs to be lower than we have allowed and if this is the case we will pass these savings on to the end user,  We want to create a good value for money offering that we can sustain on going and ensure we retain all customers who choose to walk this exciting road with us.  But to give you some ball park numbers here was our initial thoughts and I want to be clear that these are subject to change in either direction, but we are confident we have planned this well and through as thorough analysis of what we felt were the many short comings in the ASIC market place was have tried to address those issues as part of this project.  Frankly we cant wait to hold the fruition of many months work and design we have spent endless hours analyzing existing Bitcoin miners their communications protocols, their board quality etc.  I could go on, the the numbers you want are:

MSRP:
Mk. I - $2500.00 USD (3 MH/s scrypt, 50W)
Mk. II - $4500.00 USD (6 MH/s scrypt, 50W)

Deposit on Preorders (constitutes part of total price listed)
Mk. I - $1200.00 USD
Mk. II - $2000.00 USD

First PreOrder Batch - 100 Units
Perks (first batch only):
-$250.00 USD off of your next bitEX purchase
-Cloudhashing @ 10% of hashrate after May 1, 2014 until device is delivered.

This is our initial thoughts on timescales and prices, again with margin for error built in, and I would like to also share with you what prices we compared these to and what we were looking in terms of what we felt was the closest thing we could consider a competitor as really there is no other company with this offer.

Competitive Offering:
http://sluicebitshop.com/products/zephyr-ii-4000-kh-s-115-watts
SluiceBit II - 2 MH/s @ 100W MSRP $2500 USD
SluiceBit IV - 4 MH/s @ 115W MSRP $4500 USD

And I am happy to show these as we are extremely confident in our ability to deliver this and also in our faith in the community to support us, and help us make this a system the can be sustainable and profitable for all.

We will fix our prices against USD in the Americas and GBP in Europe primarily as these are our primary areas at this time but we are looking to build this bussiness and build this technology and revolutionize the world together.

For beta testing please contact us via our contact page on our site and let us know what you think you can bring unique and if we agree we will do our best to get you on a beta list, but as you can imagine there will be many requests and it will be initially a small offering to allow us to slowly move into the market and address issues while the distribution level is low so as to get everyone the possible returns in the long run.

And thank you for all your thought provocative questions and  we look forward to hearing more from you.

My spidey senses are tingling, and my inner voice is screaming "SCAM ALERT"!!!

Following, thanks.

And I completely understand why given the nature of what we are aiming for here, and we fully expect you skepticism and which is also we have managed to secure enough capital to produce a very few prototypes before needing any deposits for the mass production run we are planning.  We will be offering incentives to people who want to pre-order but we are happy to provide any guarantee's on delivery and have some preliminary ideas to announce soon on offers and and incentives if we don't deliver on time, to cost etc.

But I welcome your skepticism and challenge you to prove we are a scam because I stand by my company and am willing to meet in person, or whatever kind of assurance you need.   What I'm trying to do hear is engage this level of dialogue with everyone and find a way to prove our intentions even if it means a slower release due to now pre-orders prior to a prototype.   We are more than prepared to take that route if we must that is how confident we are. But please wait till our second or third batch, we fully intend to get this to a level where every front room in the world has one of our devices that is our dream.

[edit] I would also like to point out that I am a Admin on OTC and have a respectable trust rating there, and so does my co-director and shareholder in the this company  I will auth to groove ID and am happy to provide other method of Personal ID.[/edit]

"Limited number of pre-orders" - yes, makes me feel a SCAM is upon us.

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I am going to hold of making any more controversial statements right now, as I can see there are many mixed feelings, but we are and we intend to stay here.  I am thinking a good way to address many of these concerns is hold a public event with key members of our project to answer your questions live at an event which we would stream as well.  If anyone has any advise on how we can proceed and arrange such an event your advise would be welcome.  And equally please keep the hard questions coming.  It is my opinion if we cannot answer all of your questions reasonably then we have to re-evaluate prior to launch but we will launch.  And this will represent a shift in the mining market place.

And before i end this very exciting and much anticipated day I would like to conclude with for all those of you who do know me personally and have done business with me.  Or have consulted with us along the way please endorse us in this thread and help our credibility, I suspect that there are a few well known members of the community who can do so.

Goodnight and Welcome to the Future!

The BitEx Team
https://bitex.co.uk/who_we_are.htm\

And as a final Gesture i have noticed i negleted to add my linked in to my profile on our site so please find it here:
uk.linkedin.com/in/oliverhafner/
https://trustcloud.com/profile
http://my.miicard.com/card/hafnero
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Try delivering a product that people can see working (and possibly even buy) instead of taking pre-orders based on a 3D graphic. Pre-orders from a new company declaring something "revolutionary" smells very nasty. Prove me wrong :)

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Final response for this session I'm afraid now, Yes there will be a limited number of special offer pre-orders where we offer extra bits, the reason for this is two fold:

1. It reduces the potential impact of any bugs we miss prior to initial release and gives us an opportunity to resolve before shipping en-masse
2. by offering extras such as examples I gave earlier it is our way of thanking people for putting their faith in us rather than needing to see a final prototype to place their order.  Its a thanks from us for supporting us as both individuals and as a business in the final leg of this sprint, and we feel people that take this chance on us should be rewarded in someway.  In terms of limiting future orders there is no intention to do this. nor  to leave massive delays between production runs.  So once we hit mass production we aim to be able to meet market demand.  And further develop our systems.

But like i said we are not asking anyone to put any money up front as yet.  we want to plan this launch with the members of the community who see the value in our ideals and our model and want to help us build this piece of history in the making.  

But as always that is my opinion and if you disagree I will respect your right to yours and your right to challenge us.  For us each obstacle is worth the future that we can see.
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Final response for this session I'm afraid now, Yes there will be a limited number of special offer pre-orders where we offer extra bits, the reason for this is two fold:

1. It reduces the potential impact of any bugs we miss prior to initial release and gives us an opportunity to resolve before shipping en-masse
2. by offering extras such as examples I gave earlier it is our way of thanking people for putting their faith in us rather than needing to see a final prototype to place their order.  Its a thanks from us for supporting us as both individuals and as a business in the final leg of this sprint, and we feel people that take this chance on us should be rewarded in someway.  In terms of limiting future orders there is no intention to do this. nor  to leave massive delays between production runs.  So once we hit mass production we aim to be able to meet market demand.  And further develop our systems.

But like i said we are not asking anyone to put any money up front as yet.  we want to plan this launch with the members of the community who see the value in our ideals and our model and want to help us build this piece of history in the making. 

But as always that is my opinion and if you disagree I will respect your right to yours and your right to challenge us.  For us each obstacle is worth the future that we can see.


I look forward to being able to just that, and maybe I will try and hand deliver some units the the major cynics among st you once we reach that point.
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You said the MK I would have two boards, and if we were to split the hashing to lets say LTC for one and BTC on the other, it basically means the hash rate has halved, correct?
So it would effectively become 1.5MH/s for LTC and 5GH/s for BTC? Is that the right concept?

On a side note, earlier when I asked if I could be a beta tester, I misspoke. What I really meant was if I could be one of the first batch of people that get to review the item for the masses right before the initial release. Other then knowing a little bit of Python, I'm not much of a programmer just yet, although I am studying to be a Computer Engineer in Programming.

Hopefully you guys would consider me to review the item when the time comes. I have great interest in this item and when I have a lot of interest in something, I dedicate a lot of time and effort in that interest.

If what you say is true about prices, I'm sure the actual purchase price will be much cheaper when the units are ready, as most good engineers leave at least 30% room cost wise to count for unforeseen circumstances.

This is correct apologies for not making that very clear, this is an exciting time for us and we are all very eager to reach production.  I anything is unclear please let me know.

I'm following this thread now as I'm interested, untill I saw the prices.  You know Alpha T is aiming about 5 mh/s for about $1550-$1600 I guess?

Anyway, good luck with your project!

Thanks for the good wish's we appreciate that some of the community do not immediately label us scammers.  Yes we are aware of what the alpha miner is offering and we agree in terms of power consumption it is a comparable device. However we maintain the value of our unit is the multistream capability.  And as I mentioned before all the numbers have been given massive error margins, we would rather under sell the device now, to beat expectations later than commit to a rate that we cannot 100% guarantee.  I hope you find our future as interesting, and will at least consider our units once we demo the prototypes.  My architect is now working fully on getting me all the info on what our process is from here to prototype and once that information is available I intend to share.

Thanks

this seems like a scam

does it not?


no prototype

random announcement asking for money

seems like this is a bit of con as other products are doing the same thing for less money and they HAVE a prototype

forgive me for doing the whole business model but if you float a product and develop a loss of confidence in it before delivery

why would anyone give you money

or even consider this as your staining the market with something that looks like your trying to take there money and go walkies

I would advise you before you make any more stupid announcements to seriously consider using a marketing partner who understands how product launches work

and a bit more understanding of the business world.

 

No offense, but I can't really take it seriously when I can only see the 3D render.

This is not even 3D render but a rough sketch done in 5 minutes.

Can you guys just clarify something for me




https://bitex.co.uk/images/IMU.png


From the image it looks like the touchscreen is on the box.

You state it is a 10" touchscreen

Your box dimensions are considerably smaller than 10"

Is it a tardis?

Thank you for your reply. Indeed, I'll keep watching this topic. I'm still interested to see the prototype.


Who rented you to post here? A competitor? This is probably the second post you've made..


Unfortunately any Scrypt Asic manufacturer / developer are getting labeled as scammers here, allthough some of them have proven to have the knowledge to create these devices (such as Gridseed). Yes, there probably will be scammers in this business, but there will Always be legit firms too.

Keep us updated.

For me nothing screams scam about these guys yet, but nothing screams legit either.

The address on the website is a house on a residential street. Not quite sure how you fab ASIC in someones back bedroom.

I see nothing wrong with asking hard questions and probing into them but accusation of scam is way too early.

Let them produce evidence and prototype without being abused but keep asking the questions.

@DR-LENIN, thanks for expressing your opinion, I imagine had you bothered to read the entire post you may have noticed several times we have said we are asking for no money from anyone. not for orders or deposits, until there is a prototype to demo. All we have said is if people want to show us their support before then we will not say no and arguably this is no different to a donation which many people ask for.  The only difference is when we deliver we will repay any good faith in kind.  I Really hope that makes our position clear on this cynics view of pre-orders.  I really hope that you will wait and see what we deliver before making sweeping judgement's.  Otherwise best of luck to you, and thank you for also sharing your thoughts.

Oh also I want to clear up the point you make about 'prototypes'

When I refer to a 'prototype' this is my definitions:

"A Production quality board and casing, with a final version of our software, and the final iteration of our hardware optimisations"

This I confess we do not have.

What we do have however is the following

Cyclone V SX SoC (System-on-Chip)
Stratix V GX Development Board
Full Quartus II License
EAGLE CAD Professional

We Also have:

1. A Working S-Crypt Bitstream -Has undergone some optimisation and is undergoing further optimizations
2. A Working SHA-256 Bitstream - No optimization work yet carried out
3. A Work in Progress XPM Stream
4. A Work In Progress PTS Stream
5. A Work In Progress Web Interface for the System
6. A Working Profitability Algorithm pending integration with incomplete bit streams.

If you have any questions relating to this that I have not answered feel free to forward to info@bitex.co.uk and our team of hardware specialists will happy to liaise with directly.

As a Doctor who Fan I wish that was the case, however sadly no, this has to be put down to  last minute changes to include a larger screen on the MK.II, and the image doesnt accurately represent this. Our Graphics designer is currently working on a more final kind of box, the intention is to keep true to the shape in these concept images, but the sizes will be as specified on our site.

I want to make it clear we are happy to answer any and all questions.  We will not take offence, however please expect to be spoken to in the same tone with which you correspond with is.  I also want to reiterate:

WE ARE NOT TAKING PREORDERS

However if you wish to contact us directly and help us make this reality with usefull suggestions or donations against a future order we are happy to take these, it all helps with the development.


Yes this one was rather rushed from we wanted a different image to show the minor differences in the unit for a meeting with a UK based Mining hardware shop that have expressed interest in our boards.  Unfortunately they did not make the meeting and the image was unnecessarily rushed, but I am meeting with them later today, and we hope to show them a demo of our software and we are hoping they will agree to partner with us in this project.  More news soon.

cool 3D

your website specifies


This is simply a physical impossibility.

Attention to detail guys if you want to be taken seriously. How can you have planned a product and specced up manufacture if simple things like this don't add up.

Another Essex company? Are these guys just round the corner from CTS Miner?  :D

I hear Phoenix and his brother have a few Bitcoins they would be more than happy to throw your way, they love this kinda thing

Be interesting to see how this unfolds

Idea: Make a working prototype (at least) before you come here planting your pre-order seeds. If you believe so much in your product then why not finance the initial run so you don't even need to have pre-order. If the product does what you say it will then you will be sold out in record time and your rep will go through the roof.


Or just bullshit your way through and offer "my sincerest hope that we will exceed all expectations, deliver early, and if possible make savings in production and pass these on to the community"

My bank does not deal in sincere hope.


Just my 0.0002   ;)

We are not far from Ilford/Surbiton. Look forward to meeting to check out the progress with the product. (Have responded via emai)

If you are in central London then pop into our offices!

This is actually just a forwarding address, as we are currently all working from different locations, we are not actually based in Essex if you would like more details please contact me directly I am happy to disclose this.


We have investors already that are covering our costs for the prototype, which is why we are not asking for pre-orders, but are great-full for any support as we are all on a tight budget.  But needs must and we will survive.



We are not asking your bank for anything nor are we asking you, we are excited about our offering, we have sat on it for a while now and our software and our optimizations are very promising, much more so than our minimum guaranteed rates are indicative off.  We are working on a prototype and we will even try  and give on to one of the cynics out there to play with when its ready.  and for sincere hope I want to over deliver, early for below cost.   That is my goal.  But as you say, lets see what the prototype does.  and take it from there, frankly I see no harm in announcing our device now.


We certainly will, I would like to wait until l my personal dev kit arrives so I can demo some software at least, or until we have a prototype.  We very much look forward to exceeding all your expectations and even getting the cynics on board.

All sounds good mate, and I honestly do hope you deliver, because I'll happily buy some units.

I'm also happy to drive to your office to check out prototypes and review hardware

It would be a pleasure, we will let you know as soon as we can cater for this.

Looking forward to seeing a prototype. I'm sure you'll keep us up to date in #Bitcoin-otc-uk

Wish you all the best.

Fairy muff ;)

Lets see what you come up with.

I can understand why people are viewing this with skepticism, but as someone who frequents -otc-uk, aldur1 and Azelphur are names that are making me pay attention.

I will be watching with interest.

Im Glad to see at least some of you know we are,

Thought the world had gone crazy over night.

Pleas stop typing so much hot air, and just show photo and video of your hardware working

A stick figure rendering? Are you guys for real..

That's the proper way to approach this.


And this is where you lose all credibility.

I call bullshit. This is a scam.

Instead of throwing the scam card around, why don't we just wait and see what happens?

They have already said there are no pre-orders, so just wait!

Maybe use Gridseed as competitive reference instead of Sluicebit, and also include the time of delivery.

That is not even a 3D graphic, its a pseudo-3D graphic.

hahahahaha

If you were really designing this the you would have a true 3D perspective of your machine.

Sorry I don't buy.

Besides, 3MH for $2500 when you can get the from the MANUFACTURER for $2K?

And $2K for a machine like that is way too much at this point.

Because CTS_Miner.


Wait for someone to get scammed?!?

lol.

bingo.

Hooooo-boy, here we go.  Nice specs for FPGA implementation.  You should demo your working bitstream!

Also, why on earth would you implement a 10" touchscreen?

what is suspicious to me is that it just has too many features for those hash rates, you're better off with a modular design.

That's because features are cheap when you're making shit up out of thin air.

It is not revolutionary at all.
It is power hungry and expensive.

20GHs Asic 28nm = 30W at the wall (max)
20Ghs Cloud Mining X 0,0339 = 0,678 BTC or 542 USD. And is available now.

And of course FGPA is an old story!!!
 So, where is the Revolution???

Since the contraversy has started ( and mis-spellings abound and not just by me, intentional or not )....

10" screen sometimes is still marked on items that measure that Diagonally so a 10" box can have a 10" screen and a border to hold it...

The reason I mentioned a ' USB ' version is to assist in the final design stage as it is clearly evedent in Icarus and other FPGA based developments that they went through USB/COM port controls for the MPU in the first few iterations of the ( equivalent of BIOS ) Firmware to work out the kinks in using TCP/IP protocol and command interpretations FROM a different device ( not using push buttons, etc, but using some shell connection from off the board to change settings ).  This can be a big hurdle.  It also lets you get most of the way to a final product to see if there is space for the WIFI/ZigBee connections prior to making a ' final board ' that just won't work due to self induced RF interferance.  It also lets you check where ( or if ) the board generates it's own RF that can kill 2.xGhz wireless.  As an added bonus, you could get the first boards out the door and in to miner's hands as a USB only model and see if they can get it wired up as stand alone.

having a dual core ARM M4/M0 means dual core Pi ( minus the non OpenCL GPU ) controlling individual FPGAs to ' dual mine ' with scrypt and SHA256d.

The big deal seems to be getting decent hash out of Altera V in such a small box for under 50W power AND a touch screen!!

I am not defending the company by any means, it's up to them to do so.  I'm also not attacking them, it's up to the trolls to do so.  Just re-stating parts of the claims to make some of the questions asked answered in a way that might be taken seriously.

Δεν υπάρχει επανάσταση αδελφέ μην τo ψάχνεις.
Tα συγκεγκριμενα τσιπάκια/modules είναι της gridseed και τα αγoράζεις με $2K για 10, αλλά πάλι εξαιρετικά ακριβά.

Aφoύ αγoράζεις μια antminer με $1200 πoυ σoυ βγαζει περισσoτερά γιατί να ασχoληθείς?

 

indeed it can but a box that is 16cm x 10cm x 5cm cannot. In any way

what are your time-frames?

in other words...  (according to google translate)

"There is no revolution brother not looking.
The sygkegkrimena chips / modules is the gridseed and buy with $ 2K for 10, but still extremely expensive.

After buying a antminer for $ 1200 you makes more why bother;"

#1  His name is from friggin Pokemon  ::)  Aldur   :P
#2  From his writing, he appears to be an 18yo trying to sound like he is 40 and Mature
#3  Last year Tons of accounts were being bought from people who no longer needed or had several setup...the Older the Bitcointalk account then the more the Buyer paid and he was purchasing in bulk for "his Clients" lol

Can anyone Confirm they actually recognize or have talked to either of the 2 people that came to vouch for Mr. Aldur?  Maybe a couple friends do have an idea here, but I'm fairly certain this is either a scam or a project idea that can go no where due to funding And Lack of Skills.

This Crypto Community needs to stick together and become stronger as a whole.  It will not happen with all the Scum scammers looking to screw you anyway they can and don't even get me started on the damn Trolls from BTC-e Chat OMFG!

How about having the Nice and helpful guys actually come out ahead in this Community?  I can make a great friend and person to have on your Team but you sure as hell don't want to try and scam me or any of my friends because it won't be a very fun time...I'm sure this also goes for a good majority of the folks here too.

Just a little something for any potential scammers to think about, as well as any like-minded individuals here who would like to see this community evolve as a whole.  In the last 18 months or so, many old (and new) Crypto fans try to avoid this Forum partially from the influx of Scams not too mention there are Alot more Trolls under the bridge these days  :o


*This isn't meant as a Rant or to Preach*

No in other words...

The is no revolution here bro.
These chips are made by Gridseed and you can get 10 of them for $2K, yet still too expensive.
If you can get an Antminer for $1200 which makes you more so why bother?

Also Antminers are expected to drop price by FEB08

for the glory of mspaint!

so its another Gridchip?

I have done couple of trades with Azelphur and all went smoothly BUT I wasn't aware of this project(we do not talk to each other every day).
As to Aldur I don't know him at all but I wish them all the best with this project.

I doubt it's a scam since they are a limited company and have provided a company number:

Name & Registered Office:
BITEX LTD
5 FOWEY AVENUE
ILFORD
ESSEX
UNITED KINGDOM
IG4 5JT
Company No. 08719832

Status: Active
Date of Incorporation: 07/10/2013

Country of Origin: United Kingdom
Company Type: Private Limited Company
Nature of Business (SIC):
None Supplied

And their whois details are not hidden:
http://whois.domaintools.com/bitex.co.uk


Would suggest they have nothing to hide, also they are not currently asking for any money for pre-orders.

Just wait for updates and see what happens, if you don't send them any money the worst that can happen is they either don't deliver at all, or they deliver an over priced under performing piece of hardware, in which case you either buy one or just walk away with no harm done.

I know this place likes to jump on new hardware threads with pitchforks ablaze, but just calm down, stop make assumptions and just WAIT.

interested in the mentioning of primecoin, can't wait to hear more about this.

Even if this is a legit company, does anyone think it makes sense to pursue this project once their competitor starts shipping.
My point is they don't have enough differentiation with their major competitor and while their project is still in development the other one is already shipping to customers and we know how important time is in mining.

My feeling is, people are wasting their time proving whether this company is legit or not, when in fact they're missing out something more important.

My suggestion is they should initiate a project that is a significant improvement over the competition.

Just my two cents.  :)

I have more than a slight problem with the concept of 2 (or even 4)  Altera Cyclone V GX being able to process 10GH/sec on sha256.

The maximum number of pipelines you could squeeze onto the device - even with 'hard' cores is about 3, so even on the very best case scenario of running at 450Mhz clock, the best you're going to get is 1.2GH/sec, 4 or 2 times lower than your spec.

So there is something seriously wrong with your specifications, unless you're using 8 chips but since they cost in medium volume about $175 each, then $1400 of your device cost is FPGA's.

Your sums simply don't add up.

That's ridiculous. They've got ZigBee!

 ::)

That's what Google Street shows at that address.

Some crypto undies.https://i.imgur.com/FvUyQO9.jpg?1 (http://imgur.com/FvUyQO9)

Let's try to put some figures on this. The Cyclone V range specification is here (http://www.altera.co.uk/devices/fpga/cyclone-v-fpgas/overview/cyv-overview.html). The largest GX device is the 5CGXC9 with 301kLE and 12.2 Mbit RAM.

For SHA256 performance, from the Open Source FPGA Miner (https://bitcointalk.org/index.php?topic=9047.0) project, we can estimate around 400Mhash/sec from this device. So 10GHash/sec will require 25 devices (at several $100 each).

For scrypt, the embedded memory is the key parameter. 12Mbit will provide 12 full scratchpads (and some multiple of hashing threads using an appropriate TMTO/LOOKUP_GAP). I would estimate perhaps 50 to 100kHash/sec for this device. So at the higher end of that range, 30 devices should provide 3MHash/sec, which is reassuringly similar to the figure obtained above for sha256.

For XPM (primecoin) I have yet to see a working GPU implementation, let alone FPGA (or ASIC) and I am sceptical that it is possible at all with the current generation of FPGA devices (it needs far too much RAM).

The power estimate (50Watts) seems a little on the low side, as does the prospect of shoehorning all those chips, plus heatsinking into a tiny 16x10x5 cm box (6x4x2 inches for the metrically challenged).

Then again, the spec only says its using a dual core ARM plus Cyclone V GX, perhaps these are just support chips and the hash engine is an off the shelf ASIC (eg GridSeed's device), this would make a lot more sense, though it would be a little disingenuous not to admit this up front.
EDIT: I'll strike that as Aldur1 has stated that two (or four?) Cyclone V GX devices are to be used for hashing (I missed that quote originally). Methinks that Aldur1 has misplaced a decimal point in his performance calculations.

OK, no problem.
I guess I will reassess the situation after you provide us some pics and more details.  :)

I've changed my mind... This can't be a scam:

Product render: too sketchy, stick figures
Tech Details: half-baked, wrong info

If this were really a scam, they'd have done a better job. I mean, they'd have produced a slick looking product pictures and provided a believable technical details. They have done neither; in fact, they deliberately did the opposite.

I am sorry for calling this "scam" and I'd like to apologize to the OP and his crew. I think you guys are legit.

No, I am not being sarcastic. I really think these guys are legit at this point.

so when can preorder and the first delivery took place

A long time away,if other services like this are anything to go by.