I received a payment from Pyramining today...thank you.
You don't need to thank me, it's just normal. I hope Pyramining is not dependent on [edit: put your favorite vendor here] with their Asics... don't want to loose all my coins
Nobody will lose their coins. Should something go extremely wrong (extremely unlikely), coins will be sent back. I'm financially solid. |
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Please, don't transform this thread into another speculation about ASICs. We are working hard on it, it's a difficult road, and as I stated above, a delay still may appear. We are trying to deploy as fast as possible. I am as eager as you (probably much more) to have them working.
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Still set on not selling these to people, even sans support, warranties, and the like?
Yes, it's simply not acceptable to sell it without warranty and support, and only a fool would buy it this way.. :-) Providing support, warranty and so on would increase costs and then you lose the advantage. What can you tell us about the predicted specs anyway? Any ASIC hardware porn?
ASIC boards provide (at current $13.41/BTC) 719MH/s per BTC, with an estimated power consumption set between 1.2W and 1.4W per GH/s. Miners will be arranged in sets of 1KW/each (more than 750GH/s per unit). I will release some adult pictures of this stuff when the production will be ready to be assembled. |
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Any news on the ASICs? Are we on track to deploy them this month as you previously intended?
Production should start next week, there are good chances that we will have finished boards before the end of the month. I wrote "should" in italic, because there are still a few complex tasks to complete which could lead (even if unlikely) to small delays. Holidays between the last two weeks didn't help with this. ;-) However we're currently working with prototypes and finalizing firmware. |
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The only issue i have with this plan on the ASIC is that early adopters will not benefit from it at all, in fact it would hurt them rather than benefit them.
Another plan is to scale the whole project together in a way that early adopters will get the rewards faster instead of stretching the ROI time even longer.
I mean with the 18BTC I deposited 5 months ago, there has been no increase in the infrastructure hashing speed which makes it no different than mining bonds except more expensive since most mining bonds are permanent.
Early adopters will be stuck with less than 10MH/BTC without the ability to scale up with the arrival of ASICs to the market which will result even longer time to get the reward after ASIC arrival. (at least x5 time)
With that in mind, instead of getting the reward back in 30-40 months, it would be over 10 years to get the btc back with the very low speeds.
Why are you stating this? When ASICs will be introduced, EVERYONE will benefit of it, and it won't take 10 years to get your BTC back. Did you read attentively the rules, expecially those about ASIC technology upgrade? |
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IPv6 should support IPSec natively, I am not an expert of crypto stuff, but to me it seems strong enough to prevent DPI. We should just use it.
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Due to the amount of messages/requests received in these days, I decided to renew the promotion until the end of 2012.
So: on every account containing at least a total of 10 BTC in ASIC deposits, up to 4000 BTC deposited from now until 31st December, I will deposit 50% of the total amount with my personal funds using that account as a sponsor. I have at least 2000 BTC available for this campaign (not counting those already allocated for those who took advantage of this promotion until now).
If the total ASIC deposits will exceed 4000 BTC, promotions will be applied to the first deposits (chronological order). By the time of 31st December maybe I could be able to allow also the exceeding deposits into this promotion (if there will be any), but it's not guaranteed.
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So, if I deposit regular money will my shares get turned into ASIC shares at some point?
No, but ASIC miners will get mixed to FPGA miners, and everyone will take advantage of it. IMHO, if you want to invest a small amount ( < 5 BTC ) there is not much difference between normal and ASIC deposits. If you are planning to invest much, probably it's worth it to wait until ASICs are ready or if you prefer, invest with ASIC deposits. |
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But even assuming they do add a delay, it will be the end of jan when ASIC will hit?
I am not able to guarantee it, but our ASICs are planned to be ready before the end of January. I still don't have an estimate on how much time will be needed for deployment, but I don't expect it to be much different than what it took to put FPGAs online. So the end of January is a reasonable date. For everyone: in the case we arrive at 31st of January and ASICs will not be already running because we're still working on them, please do not flame (like when we were waiting for the July FPGA deployment which took about a week more than planned)... I am really doing everything I can to speed up and optimize things as much as possible. The sooner they will be in production, the better is for both me and you all. This should be a warranty on the commitment I am dedicating to this activity. |
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As the bounty for pre ASIC deposits was going until 30.11 what happens now if I deposit ASIC allocated fund in an Account that has already ASIC fund deposited in it during the bounty in it?
Am I save to do so or will this possibly mess up the bounty calculation?
It is safe and you do not incour in any trouble and/or mess. :-) |
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Any updates on the ASIC front? Or current expectations?
Everything is on schedule, deployment is planned around mid January. The only "problem" that relatively troubles me is that during the christmas period (last week of december and first of january) most companies don't work here in my country. I hope these holidays won't delay any operation. |
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The web interface is now online again. The previous server suffered a complete crash of the hard drive. Nothing has been lost since everything has been restored from backups.
I took this opportunity to replace the server that hosts the website. The new one has a powerful CPU, more RAM and a RAID-1 SSD storage. I hope this setup will mitigate bitcoind troubles and increase the overall reliability.
Should you notice something wrong, leave me a PM.
I apologize for the interruption of the service and thank you all for your patience.
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This time there is an hardware problem on the server. I am already working on it. Since it had to be taken down I am also upgrading the hardware behind it, it should help overall situation, also.
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1. If there is one account with ASIC deposits (so not really active atm) - and someone uses the ref link from this person and has a active account with payment to upper sponsors: Does the person with the ASIC deposit (the sponsor) receive Bitcoins from the referred person? I as sponsor should receive the bonus from a person - but they don't show up.
ASIC deposits are not considered active. If the referral has one or more active deposits and his sponsor has an ASIC deposit (still inactive), 30% of the referral hashing power is distributed to upper active accounts. Bonuses are not passed up, and will be collected at the time the ASIC deposit becomes active. 2. Do the Sponsors (with pending asic deposit) receive the Bonus, as soon as their account is active?
Of course, yes! If they don't, then I'm sad because I didn't know and made the wrong tactic.
You have no reasons to be sad! :-) 3. A sponsor receives the bonus during his account is active - is this still the case if an old deposit is paid back but DURING the payback period making new deposits keeps the bonus alive?
In the unfortunate case that an old deposit of a referral is completely rewarded before the ASIC deposit becomes active, you miss that bonus. Bonuses are generated by active deposits and collected by active deposits only. |
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Bitcoin block reward halving and difficulty increasing are slowing a lot the reward process. However I invite everybody to be patient: when ASICs will finally be ready, most probably all deposits will become "complete" far before the date expected at the moment of the deposit.
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Your site is offline again
Fixed. I Apologize for the delay, I am currently in London. Fortunately I can still do some maintenance from here. |
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Looking at the price per GH/s in ASIC farming, it is lower than the price per GH/s when buying ASIC's directly from BFL.. How come? does he get a discount or something? Or are the figures wrong?
Here we don't use ANYTHING related to BFL. And we don't sell ASICs to end users. So we don't need to care about making a user-friendly software/interface/enclosure/whatever, we don't need to provide user support, and so on. This keeps our costs lower, at the benefit of everyone. |
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No, I remember to have seen somewhere that he stated it would become ~January until he will be able to add the first Asics.
Correct. I can imagine that the first chips will be ordered in December. And therefore fund are collected for this first order.
My problem is not "collecting funds" but figuring out the quantities needed. Also, he is stepping in new terrain here, even if he gets the chips on time. There is: - PCB Layout
- PCB Assembly
- Mining Software configuration
- Setup of the new farm / integration into the old one
- Much more I haven't thought of
As I think this is mostly a one man operation and this whole project requires a lot of work, I expect delays to happen here. So be patient. Fortunately I am not alone, there are other people helping me setting up the whole thing, however the quantity of work needed to set up the whole thing is HUGE. Of course I will try to avoid delays as much as possible, we're all already very busy working on this project. For example, we built a new room in our facility dedicated only to bitcoin mining, instead of placing things in the servers datacenter. This room is optimized for miner requirements, therefore it will cut off unnecessary costs. |
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I think the late November date was picked as ASIC's were due to be shipping by then?
No, ASIC infrastructure will be available at the end of December or most probably in January. The promotion ending by November helps me planning the correct quantities of various items I will need to set up to try to satisfy all the requests. |
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