Huh... 14th, then the 19th, now it's the 21st?
Interesting...
Sounds a lot like October, then November, then December, then January, now it's February.... yet it is so different in soooooo many ways  |
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Clicked! Looks long. Getting a fresh cup of coffee. Now only if I knew how to freeze MFC until I get back to them. MeSoSExxY has a new outfit and I wanted to see it live. She only needs $3.68 more donations before she puts in on. My lost I guess. Getting coffee now, then to the reading. Tldr; chips finished last week of Jan, packaged first week of Feb, soldered into units the week after then shipped ~mid Feb. <1 month to get through all pre orders. One minor detail... they still don't know IF their chips WORK.... There is no mention of any chip-testing in that time-line.... Might have to be amended early Feb.... |
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That being said the first ASIC should be online by now (been 5days since his update) and the fact that he hasnt made a big announcement about the first ever ASIC hashing away looking for a bitcoin block, makes me afraid that they might have run into some other problems....
For goodness sake. When he first posted pictures of the chips he was talking about the next steps taking 2-3 weeks. I am not expecting 6 TH to be online this instant, am talking about the first test rig to be online.... If 6 TH takes 3 weeks, one rig should be done in 1 week dont you think |
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I also dont think Friedcat would say the NRE is a fruitful spend if the chips are not capable of hashing....
That being said the first ASIC should be online by now (been 5days since his update) and the fact that he hasnt made a big announcement about the first ever ASIC hashing away looking for a bitcoin block, makes me afraid that they might have run into some other problems....
Hopefully Friedcat will update us again tonight as he usually does (on a thursday morning)
Doing all the board assembly and testing, then building them into rigs and commissioning the system might be taking a little longer than expected (not sure on their original timeline), but this kind of operation isn't like getting a single in the mail and plugging it in. Wouldnt it be wise to build one rig, to see how it all works in real life, before assembling all of the available chips into rigs. They had the 2 strips of chips, build 1 or more rigs out of those, let them run fir a while, see if it works as expected and then have the remainder built.... It is not like getting a single in the mail, more like building one.... But i am probably too impatient |
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I also dont think Friedcat would say the NRE is a fruitful spend if the chips are not capable of hashing....
That being said the first ASIC should be online by now (been 5days since his update) and the fact that he hasnt made a big announcement about the first ever ASIC hashing away looking for a bitcoin block, makes me afraid that they might have run into some other problems....
Hopefully Friedcat will update us again tonight as he usually does (on a thursday morning)
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After the going down of GLBSE, do ASICMINER have any plan of where should we trade, manage etc the shares in the future, BTCT? Or elsewhere?
If there is a plan it's being kept a secret and it's very slow in being rolled out. There will be a proprietary trading platform and the shares will start trading before the 1st dividend will be distributed, according to Friedcat. So no hard dates, but should all be resolved soon. |
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A bit worrying that two people with enough shares to be on the board want to sell their shares now.
I don't want to sell my shares now but if people are stupid enough to pay 1BTC/share I'll take it. Nastmining pays 0.001482 BTC dividend per share (seat as they call it now) per week Price of the seat is around 0.35 BTC I know OgNasty has ordered ASICs, but an FPGA today will be the same more or less as an ASIC tomorrow (hasrate% wise) and to even things out currently only 6.500 shares are paid dividend whereas OgNasty holds 18.500 shares that don't get dividend, but as soon as the first ASIC is hashing away, future dividends will be paid on 25.000 shares.... Anyway currently people are paying 0.35 / 0.001482 = 236 weekly dividends for 1 share All of a sudden 1, 2 even 3 BTC for an ASICMINER share does not seem so far fetched, but I can be mistaken.... I love to day-dream  |
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I agree "some of the revenues" is not clear, but it looks to be far from "most of the revenues"...
some and most are fuzzy terms. And the required money to fund new hardware development or other strategic operations mainly determines the difference between some and most. If ASICMINER is very profitable, "some" may be enough. Just saying... I guess the difference between "some" and "most" depends on BFL delivering any time soon. Without BFL machines hashing we will be a much larger portion of the hashrate (even with Avalon and/or bASIC delivering) than after BFL has delivered on all their pre-orders and therefore have more profits to divide/keep within the business. I also do agree with you that future investments come with a high risk as they might yield zero returns. First things first: I want to see the hashrate rising as a result of ASICMINER mining |
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Business plan and Estimated Return The expected starting date of chips
manufacturing is late August to September, 2012. The chips are supposed to be
deployed and start hashing in October to November, 2012.
After the ASIC miner chips are produced and deployed, we will first directly
mine with them, then use part of the revenue to make user-friendlier mining
boards or rigs for sale.
If our chips are successfully produced, all the following businesses will
contribute to the shareholders' return:
Self-Mining with First Batch of Chips At least 12TH/s in
total, that is equivalent to 30MH/s per share, or 300MH/s per BTC.
Hashrate/Chip/Board Selling Net profits are
conservatively calculated as $5 per GH/s. That roughly equals to 0.5BTC per
GH/s with the current BTC/USD exchange rate. It means that each time we sell
1TH/s of hashing power in various forms, the net profit per share will be
1.25mBTC, that is, 1.25% of the initial investment.
Self-Mining after Mass Production Unlimited hashrate in
theory because of the low margin cost. But in reality we have to consider the
cost of management (labor) and place (rent). We believe an expansion to 50TH/s
is not hard to achieve. That pushes the hashrate per share to 155MH/s, or
1.55G/s per BTC.
Next-Generation Products The plan will be discussed among
board members and approved by shareholders, because it would require keeping
some of the revenues instead of paying them all as dividends. The return of
this stage is difficult to estimate, since in the Bitcoin world everything may
happen and happens even quicklier than imagination. But we personally believe
that much more potential profits wait there.
It does not seem so fuzzy to me.... initially self mining profits will be distributed fully as dividends. Bitfounder will not take dividends until all ASICMINER investors have received 0.10 BTC as dividend, after that Bitfounder and ASICMINER will share all profits 50/50 Part of the profit will be used to push through new batches of chips until the 50TH has been reached. Then we go on to Next-Gen development... I agree "some of the revenues" is not clear, but it looks to be far from "most of the revenues", so I would expect en have always expected for them to pay 50% or more of the mining revenue as dividends and only start Next-generation products after the 50TH farm has been fully operational. Unless of course something changed in the business plan that was not reflected on the forum. |
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Your right! I forgot to get the link to the original poster. It wasn't mine. It was probably made by a BFL customer.
Well .. I am a BFL customer ... hint hint Funny to see how the Avalon ASIC Development status thread is fully taken over by BFL-haters-lovers Go figure |
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Can we see photos of those "samples" you made? Hello?
No photos and evidence = no trust in your words.
Scroll back a few pages for photos of the chips... edit: Sorry see post below for pics in the Blockerupter thread |
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Wait, so you're saying that a single entity controlling a large amount of hashrate is better for Bitcoin than many individuals receiving units and having that large amount of ASIC hashpower distributed across many people?
Huh?
It is for ASICMINER shareholders |
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I was under the impression there were a few more initiatives.
Not for end customers, no. So for whom then? The shareholders of ASICMINER As per this quote Update
The samples passed all functionality tests. The power consumption is also within the expected range. And as our overclocking tests had shown, they still have a lot of potentials compared to our original spec. This means that the biggest risk of our project is gone and our NRE is a fruitful spend.
The first production batch of chips will be out of the packaging service tomorrow. Our deploying is on its way.
The first Bitcoin-ASICs will be happily mining away shortly  |
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I you guy could let us know a couple days in advance of turning on your ASICs that would be helpful. I'd like to sell all my BTC before they become worthless.
Lol, ok I will bite: Why will BTC become worthless??? |
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Update
The samples passed all functionality tests. The power consumption is also within the expected range. And as our overclocking tests had shown, they still have a lot of potentials compared to our original spec. This means that the biggest risk of our project is gone and our NRE is a fruitful spend.
The first production batch of chips will be out of the packaging service tomorrow. Our deploying is on its way.
Thanks for all the hard work you guys did and kudos !!! Will there be a website so we can see, in real time, our hash rate and how many BTC ASICMINER has mined.... or is that too much to ask |
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Decentralized currency, p2p, transactions signed by anonymous people around the world, definitely not 1 guy in China with 51% hash power, at least this I understand from his paper.
Again, I'm not saying its a bad project, I congratulate friedcat and his friends, well done guys.
Do you really think that all the competing ASIC projects will fail? And it won't be tomorrow when they have 51%, if they ever get there. We are talking about 6TH - 12TH in January.... hardly 51% if you take into account today's network speed Avalon might start delivering in January, even BFL can still make it before the end of the month. Nothing to worry about in my opinion... |
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#1. We are having too much fun in Los Cabos, getting wasted with Charlie Sheen, with your pre-order money!
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Is it my imagination or is this thread sort of abandoned by the Avalon Team?
Lol you only have to look 3 posts up to find an Avalon Team Member :-) |
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Excellent !!! What's next? How long before you can take these bad boys for a test drive??? |
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