Deployment of Asicminer is currently under 2TH per week.... so will be 25 weeks before the full 50TH is deployed.... so 45% not really realistic imo

When I try to see my balance (just deposited some coin) I get the following message:


Thanks

They are accelerating by 1 week at the most according to their latest timeline.... seeing as the project is already 4 months delayed I really don't see the benefit in destroying 1000 chips

Especially not since those 1000 chips could go towards 1st month orders. They are now sacrificing 1st month orders to get later orders filled earlier. As everyone has already paid for their order...and the money is already in the bank for them, they are simply showing a lot of disregard for their early believers.... IMO

This whole update makes no sense:

The BFL ASIC project is 4 months overdue after an initial estimate of 4 months. That's a 100% delay.

Now to shave of a couple of days (1 week the most) they sacrifice/screw-over 1/6th of the pre-orders. Makes no sense at all !!!

If the bumping facility really has the chips bumped and ready for testing by Friday (as they imply for the projected start of deliveries is March 9th) then there is really no need to burn, i.e. destroy 1 whole wafer. 1.000 chips less for the 1st month pre-orders....

Now if it will take another whole month before the bumping is ready there might be a case made to do so..... to speed up the process of the wafers remaining at the foundry....

So either it's a really bad business decision on the part of BFL or the bumping is long from being completed and we will read so in the next update...

As always to be continued....

At least 1/3rd of the 200.000 shares of Bitfountain I would think

   I see 1.4TH....

As long as the fall in hashrate is not because of boards dying, then I guess there must be some logic behind todays events

Although I fail to see why deployment cant be progressive.... Not the first time this has happened.... And we came back with more hashing power in the end :-)

Seems to be hovering around 2TH, so I am assuming not all miners went back online....

The first prognoses was that 12TH would be brought online in 2 weeks.... After 4 weeks just under 5TH is hashing.... I'm not complaining but we are lucky the others havent started shipping yet....

I do agree the sooner we get everything online the better, but Friedcat knows that, so I wouldnt worry

I would like to get an update on why we are having delays in deploying and if the 50TH will be deployed quicker now that they have experience in deployment

Does that mean that the trading platform will be online before next Thursday?

If I remember correctly you have stated that the tradin platform would be brought online before the 1st dividend payment...

Hi Gavin,

tried installing bitcoin-0.8.0-win32-setup and got the following error msg:

"Error opening file for writing:

C:\Program Files\Bitcoin\bitcoin-qt.exe

Click Abort to stop the installation,
Retry to try again, or
Ignore to skip this file."

Edit: Windows 7-Pro, 32-bit

Witnessed

I edited the link, thanks

https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin

Zefir: There's definitely someone on OzCoin increasing his/her hashrate.... but no name (Anonymous).... up to 600GH/s at the moment

https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin

Following the analogy of all the people claiming ASICminer is a threat, please be advised that BFL is the real threat....

Pre-order money has given them the ability to mount a 80% attack on the network... if/when they have their asics ready.....just never deliver any asics to clients.... whait what do you say? BFL has no incentive to do that as they already have a money making model.... and they will be better off earning money from said model on a long term basis than they ever can from mounting an attack on the network....effectively crashing trust in Bitcoin....

Exactly!

'Nuff said!

Are there any ASICminer sightings on pool other than BTCGuild?

Zefir mentioned 0.5TH on OzCoin but I dont see them in the Hall of Fame page...

It would be a good idea if shareholders could actually keep track of hashingpower and income on a website somewhere....

Maybe I am overly optimistic or just have my calculations wrong, but I think you are way off with your 3 months' worth of guaranteed divs (maybe I just misundestand you)

From Friedcats last update it became clear that there are 1 million rmb in loans and costs that need to be paid short term. After that has been taken care of the initial investors will get dividends up to the point of 0.10 btc after which all 400.000 shares will share in the profits through dividends (payout ratio of between 60 - 80 % of profit as dividend).

They are currently strsstesting with 2TH but have enough chips in hand to deploy up to 12TH in the 'short term'.

12 TH on top of the 24 TH network speed would be 1/3rd of the network speed netting them on avg 1200 BTC a day. If they can get everything online by next week sunday they will most likely have been mining without any asic comppetition other than the 2 avalon asics currently out there.

On avg they wil have mined 7 days for 600 BTC per day which currently nets $15.000 per day for a total income of a little over $100.000

At that point they will be making 1200 btc a day which equals $30.000 a day

1 million rmb = $160.000 which means even if BFL starts sending out asics to their customers by the end of next week, ASICMINER will probably be debt free and have the costs paid for another batch of chips by March 1st.

Afte that it really depends on BFL and Avalon how profitable ASICMINER will be for their investors.

They need to mine 20K BTC to pay back their initial investors (actually only 15K as only 150.000 shares were sold throug the ipo) which means it takes between14 days to pay the initial dividend if BFL has another 3 week delay and perhaps 1 month to pay back the original investors. All depends on BFL basically....

Am I way too optimistic?

So if I calculate correctly ASICMINER has around 1 mln rmb in debt/costs that need to be paid. Divide by 6, gives around $160.000 debt/costs

If they can get all 12TH online in the next week (before BFL gets the bulk of their customers online), ASICMINER will be 1/3rd of the network.

3600 BTC / day * 1/3rd = 1200 BTC * $ 20 (safety margin) = $24000 a day

So if we are lucky we will be a debt free company before March 1st !

Nice !!!!

I guess the stresstesting is over.... full deployment can begin.... 1.5TH now on BTCGuild....