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Bump. If you would like to sell your FPGA mini rig for a premium lets talk.
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Anyone saw pirate yet?
His plane is being tracked by all of Bitmanity. It's either about to touchdown or already has. I have seen a pirate and he looks like a pirate. |
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Below are the odds/winnings from players point of view. I have assumed that after 12 losing games you would give up as even if you win after that you do not get back your stake! As you can see you have a 96.5% chance of winning, and a 3.5% chance of losing 693 BTC! Expected mean loss is 1.21BTC per "game". So one in 28 games the player loses 693BTC. The other 27 games they make between 0.75 and 401BTC with different odds (401 profit is very rare 1 in 66 games). | Game | Bet | Total Cost | Win | | p(lose) | p(win) | | Odds | Winnings (neg is lose) | | 1 | 0.25 | 0.2505 | 1.00075 | | 0.755859 | 0.244141 | | 0.244141 | 0.75025 | | 2 | 0.5 | 0.751 | 2.0015 | | 0.571322827881 | 0.184536172119 | | 0.184536172119 | 1.2505 | | 3 | 1 | 1.7515 | 4.003 | | 0.431839501359305 | 0.139483326521695 | | 0.139483326521695 | 2.2515 | | | 4 | 2 | 3.752 | 8.006 | | 0.326409773657943 | 0.105429727701362 | | 0.105429727701362 | 4.254 | | 5 | 4 | 7.7525 | 16.012 | | 0.246719765107319 | 0.0796900085506238 | | 0.0796900085506238 | 8.2595 | | 6 | 8 | 15.753 | 32.024 | | 0.186485354934253 | 0.0602344101730659 | | 0.0602344101730659 | 16.271 | | 7 | 16 | 31.7535 | 64.048 | | 0.140956633895249 | 0.0455287210390034 | | 0.0455287210390034 | 32.2945 | | 8 | 32 | 63.754 | 128.096 | | 0.106543340339429 | 0.0344132935558201 | | 0.0344132935558201 | 64.342 | | 9 | 64 | 127.7545 | 256.192 | | 0.0805317426856207 | 0.0260115976538086 | | 0.0260115976538086 | 128.4375 | | 10 | 128 | 255.755 | 512.384 | | 0.0608706424946106 | 0.0196611001910101 | | 0.0196611001910101 | 256.629 | | 11 | 219 | 474.7555 | 876.657 | | 0.0460096229653339 | 0.0148610195292767 | | 0.0148610195292767 | 401.9015 | | 12 | 219 | 693.756 | 876.657 | | 0.0347767876049543 | 0.0112328353603796 | | 0.0112328353603796 | 182.901 | | Or lose | | | | | | 0.0347767876049543 | | 0.0347767876049543 | -693.756 |
From a betters perspective, if you have risked 693 BTC so far and not won, you are pot committed and it would be worth another 219 to regain "most" of your losses rather than giving up. I would be interested to see the odds for this 13th bet. Also, what are the odds if you add an extra half sized bet at the top of the chain for .0625 BTC? |
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Hunted it up back in April, wasn't hard
Why does everyone say that, but then never reveal anything? Who exactly is "everyone"? I would say that PatrickHarnett is one of the most respected and trusted members of this forum. If he says he has the information, it's more than enough for me. |
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Let's say you have a spot on the minirig waiting list. You'll get it at some point, then a few months later ASIC comes out, and you either have to pay more or you won't ever turn even. Selling your rig to gigavps for full price in this case ensures you won't lose money, i.e., it's a win for you.
Actually, it would be silly for anyone to sell an active rig order for 'merely' full price; an active rig box order is worth more than a fresh order. In fact, the older your order is (i.e. the closer it is to shipping), the higher its value. Consider this: Let's assume the 'ship time' from order to delivery for rig boxes is 12 weeks (the actual number is irrelevant for this exercise). If someone were to order a rig today, they would be mining in 12 weeks. If, instead, they purchased a rig order from someone who has ordered 6 weeks ago, that rig would be delivered 6 weeks earlier than a newly-ordered one. It means it will be mining for 6 weeks longer (since it arrives 6 weeks earlier). How much are those extra 6 weeks worth? Well, at 25Ghps and a difficulty of 1.9mil and $8.50/BTC, the rig generates $112 per day. Those extra 6 weeks of mining will bring in an extra $4700. This is why giga doesn't simply place a new minirig order from BFL; it is much more advantageous (i.e. profitable) to buy an existing order from someone else. Any prospective seller should keep this in mind. For every week that your order has been active, its value over a fresh order goes up by $780 ($112 per day). This is the premium you should be able to charge someone who wanted to purchase your order. If your order was placed 6 weeks ago, you'd be able to charge a premium of $4700. Now, obviously I wouldn't expect any prospective buyer to pay that much of a premium since there is some risk (difficulty changes, BTC price fluctuations, etc.) ... but there will be some 'middle ground' which is both fair to the buyer and seller. But in no way should a seller of an active minirig order pay ONLY the 'full price'; it is worth a lot more and buyers will know that. You are missing one fact Epoch. If someone doesn't have the money to upgrade, and they start mining today, there is a decent change they will not make their money back. So, your premium is out the door if you keep the rig and don't make your money back, right? It's a losing proposition if diff continues to increase and the price does not hold at $8.5. I am offering CERTAINTY that a mini rig order will produce a 100% return much quicker than it would if it was mining. |
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It's pretty clear that some guys are simply using these forums to turn a quick buck in any way possible.
Not sure if serious or trolling.  I need more mini rigs to run Gigamining. Pure and simple. |
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Bump. If anyone would like to sell their FPGA mini rig order please get in contact with me.
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Of course you guys are fully satisfied with your rigs, you have to be. You plunked down treasure, waited seemingly forever and finally were rewarded with gold in a box. You better be satisfied by this point.  The perspective from the outside though is that when one plunks down 15grand or better yet 30+ as you both have shown along with darkice that you get something that is a little more polished as well as 'just works'. My thoughts are that they just don't have the time/resources to put a nice coat of polish on the insides as they are constantly in the innovators seat which moves fast. I don't imagine we will see newer revisions of these rigs because ASICs are getting closer every day supposedly and that will be a whole new ballgame. perfection === iteration Do you think the ASIC rigs are going to use multiple PCBs in a box? If so, it's the next iteration of the previous design. |
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Personally, I was totally satisfied with what I found inside. Nothing breaks when I move them around and they're practically maintenance free. This one chassis is far superior to anything I'd have come up with to fit 50 GH/s worth of Singles into a small space.
I paid the money for hashing power, which works awesome...No regrets. I LOVE my mini-rigs!
1000% agreed. I'm not quite sure what you guys are expecting. It's not like BFL has been in business as long as Apple and has as reality distortion field.  I'm sure in a couple iterations of the case and connections, you'll see a much improved mini rig. |
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I am pirateat40 and I approve this message.  |
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But I thought pirate and I were the same person! |
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To all Gigaminers:
The coupon payment for the week is out.
Enjoy,
gigavps
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.... I think people are beginning to realize what a deal having one bond @ 1.09 actually is. ...
Can you tell me please!? All I see is a 5 Mh/s turd for 1.09 or 1.09/5= 0.218 BTC per Mh, with diminishing coupon payments. You probably know (or maybe not) that Mh/s produces less and less coin and this trend will continue until difficulty starts to drop. Hi EskimoBob, As I said in my previous post to you, EVERY MINER faces these difficulty changes and unknown future returns, not just Gigamining bond holders. There are strategies which have been discussed in this thread to combat this, which you choose to ignore. It is quite obvious that others see value where you do not. Maybe vps can blow a little bit more of that warm and perfumed air up to our collective as(ic)s so we can enjoy another positive (but temporary) price movement - a.k.a pump and dump.
You never answered my questions I posed to you in my previous reply. I'll quote it below so you can help me understand what you think I should do since you seem to think my intentions here are not genuine. Best, gigavps Hi EskimoBob, Since you didn't like my last response, we'll take your new post in parts so that I can talk to each point you make. I attempted to figure out is this upgrade a really sweet deal or this just another rip off wrapped in a shiny paper and offered to us by a beady-eyed, smooth talking scam artist.
Thanks for taking the time to do some math. However, I don't appreciate being called a scam artist. I would kindly ask that if you would like to be respected, please respect others. I guess it is clear what I did here in Table 1. All the FPGA stuff that vps has ordered and is pay'd by you, dear turd ("bond") holders is getting swapped to 20.4 times faster equipment. And yes, it is all paid by you.
So your calculations for the $/Gh decrease look correct. At this point in time, I have 4 mini rigs and cannot promise anything more until some things happen. Would you rather I promise what I cannot deliver? We got our 5 Mh turds for it and when diff started to climb, people started to realize that 5 Mh will keep losing value fast. (This trend will continue in long term and same thing will happen to 100 Mh ASIC turds.)
Every miner faces this. It's not just bond holders. It is however the one of only three risks that bond holders take on along with bond price fluctuations and BTC price. I take on ALL the other risks of running the bond. You do not have to worry that cgminer crashed yesterday and 50Gh was down for 4 hours. Do you think that taking on these risks does not deserve a premium? People got pissed off and then the a* holes from BFL released the PR FUD package. Now most of you realized, that 5 Mh turds will be worthless in matter of [insert BFL promised time frame here]. Suddenly people realized tha VPS can swap this pile of FPGA to 20 times faster (per invested dollar) ASIC's and ... here we are now.
All I can do when faced with this situation is either let gigamining die on the vine or work really hard to get ASICs. What do you prefer me to do? Here, in Table 2, I am trying to understand, what really happens, if this swap gets completed.
At this point, it looks like I am getting scammed no matter what I do.
I have tried to give people a way to choose a free upgrade path. I have funds allocated to getting to 200Gh before ASIC arrives and to also upgrade equipment. BFL has made everyone of their customers double down if they want to remain viable in the mining game. I am not, yet you tell me you feel scammed because of this. Would you rather I only have a paid upgrade option like BFL? VPS answer to my question was as empty and meaningless like a answer from a scumbag politician:
Again, I try to treat most everyone on the forums with respect. I have failed in the past on this because I am not perfect. I will ask again that you try to do the same. Hopefully my more detailed response here will rectify your issues with my previous post. Did I calculate something wrong? If so, can you please keep it to the point and use similar layout, so we all can see, where did I go wrong.
Cheers!
So, EskimoBob, would you rather I make no money and go out of business at the first sign of trouble? It seems your argument is that because I make BTC doing this that I am somehow doing something wrong. I look forward to your response. Best, gigavps |
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teramining bonds are changing from 25mh/s to 100mh/s  This is not correct. Teramining will be a 25Mh/s per bond. I think he meant one giga + .25 BTC = 100mh/s That is correct. |
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lucky and successful
This is where hard work meets opportunity. Not many people were calling BFL on the phone in October or November 2011 and doing there due diligence. I spoke about this a lot when everyone was trolling BFL before the singles shipped. Even though they made mistakes with the singles as far as the hash rate and wattage, they have under promised and OVER DELIVERED on the mini rigs. People still bash BFL for making a mistake like they have never made mistakes in their own lives. I don't understand this at all and feel they would only be doing this if they were purchasing BFL equipment themselves and spreading FUD to try and keep some kind of perceived competitive advantage. This, to me, is an ignorant approach as you are ultimately hurting a legitimate company's reputation for your own (perceived) personal gain. |
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teramining bonds are changing from 25mh/s to 100mh/s This is not correct. Teramining will be a 25Mh/s per bond. |
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How do they perform ?
The mini rigs perform very well. |
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Thank you Cablez for showing me this.
Are there anyone else who own a minirig beside Gigavps?
Hi Easy2Mine, Most of the 50Gh miners on http://bitminter.com are running 2 mini rigs. Best, gigavps |
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