They will continue to serve as a reminder of your gullibility?

Its not like all of those 400 machines that have been shipped have all arrived and have been deployed already. So in all likelihood, KnC machines will add 6-700TH over the current hashrate over the next week or so. Then there is 500TH that asicminer would deploy this month and god knows how much bitfury is deploying. Not sure how that is good news, because I didnt even mention the (slim) possibility of Hashfast actually shipping this month and Im ignoring BFL and avalon shipments too. Oh and btcgarden's 250TH which may or may not have been deployed already.

You have many variants of the package that have an influence on heat dissipation. But of course much more important is the power draw. BTCgarden claims 1.5 - 3.75W per chip. Labcoin's paper chip was calculated to draw 12.8W.

They look exactly the same as any other QFP44 chip, and there must be a million of those.

By all means, dont spend a satoshi on mining hardware, because you do not understand the basics yet. The salary of miners is irrelevant (and many of them have been mining for years since bitcoins traded for $1 and so are independently wealthy now because of it). What hashing speed their machines have, is irrelevant. No one is going to turn off their asics unless operating cost (electricity) exceeds income, and that efficiency doesnt scale. We are very, very far from that with current Asics  Difficulty decreasing, thats a joke. For the foreseeable future it will keep rising exponentially. If you think the current increase is steep, you havent seen anything yet, new generation asics are only just trickling in.

Mining hardware is priced per TH for the most part, buying more doesnt give you an advantage (in fact, it gives you a disadvantage. The more TH you buy, the more you compete with yourself). There is no advantage of scale in this game, except if you scale it to the level of building your own chips and miners, then suddenly everything changes. Well, even for that you are too late now and anything else is just a guaranteed waste of money.

Even if KnC were to stop taking orders, do you think Hashfast, Bitfury, Avalon etc would do the same? This is a race between vendors, and the customers are the victims. Its just the nature of this market.

AFAICS, this is basically the same idea as colored coins. But disguising a company share as a coin isnt going to solve the problem. Sure it would make the exchange distributed and difficult to close down, in that sense its a good idea, but the coin will still have all the properties of a security, therefore be considered a security and therefore, the legal liabilities for the issuer remain the same. It might fool some folks at the security commissions for a while, but eventually they will understand it too (and perhaps before most posters on this forum)

Its not the website thats so different, its just the time you are looking at it. Right now dot-bit predicts even more, 289M (x1.53)

But this estimate is based on a too short sample, simple luck / variance plays a very big role, so its too early to say we will really see such a jump. I wouldnt rule it out though, like I said 300M may be possible.

Just saw this on reddit:
http://www.futureblock.com/

Lets you bet on the network hashrate increase. pretty neat idea, and afaict, well executed.
I just wish the criterion was the unambigious difficulty instead of a guestimated network hashrate

I was wondering the same. Another possibility is that someone hacked KnC's server.

+10
Almost all Bitcoin exchanges have gone legit, and that has greatly benefited bitcoin. I hope someone will do the same for the bitcoin security market. It may be a tall order, but if someone pulls it off, at least we could begin attracting more serious investments rather than being limited to illegally betting some playmoney in casino exchanges on mostly scam assets.

Taking that back. Of course its hard to say how much of the current hashrate spike is statistical noise, how much KnC, Bitfury or any of the other players, but the game is on it seems:

Last 120   08/10/2013 20:47   262437-262557   279 863 848   x1.48
Last 10   09/10/2013 09:13   262547-262557   288 979 007   x1.53
Next   16/10/2013 15:48   264096   263 789 841   x1.39

If its not a statistical fluke, its bound to go up further considerably as KnC is no where near done shipping/deploying. Will we see 300M difficulty the next round? I think we may.

Maybe so. OTOH, I dont think there is much harm in adhering to existing laws either. Registering a security isnt that hard, and the disclosures it requires can only be considered a good thing for potential investors. Even if these laws wouldnt apply, most of what they dictate should be common sense, and would avoid 99% of all pirate, labcoin and similar scams. Is that really worth fighting against?

The only annoying thing is that you'd have to register those securities in just about any country, it would be nice if there was some central "internet security and exchange commission".

You think that? Read up on the Australian equivalent (ASIC) and start googling for a good recipe for that hat.

A while back Ken wrote they already had the code for a private exchange, precisely for this reason. I commended him for that, being forward looking (and was ridiculed by many for saying that). Its in this thread. Anyway, e that doesnt change the legal status, selling those shares directly wouldnt be any more legal, unless he registers them first. He might not attract as much attention, but its hardly a fundamental solution.

Where do you think bitfunder is incorporated? Where was BTCST? Hint: not in the US.
Why dont you be the hero, start an exchange, and if you get a cease and desist letter from a foreign exchange commission, just ignore it, see what happens.

Have you read that link? Clearly not.
You might be able to hide your activity from the SEC, but I wouldnt bet any money on that unless you only deal with people you already know.

So just so you know, it IS illegal, and you would be betting on not getting caught.

Doesnt matter what HK thinks. The point is these securities are sold to US investors, and thats where the SEC steps in.
BTW, I looked up HK security laws, and they arent too different from US. Its just as illegal there as it is in the US and almost everywhere else to sell unregistered securities that dont fall under certain exceptions.  At first glance it even looked a lot more strict in HK.

$4000 per processed 300mm wafer, 177 candidates with hashfast die size (324mm²) that is $22.5 per candidate in silicon cost.
Subtract 15% yield, a few dollar per chip for packaging and testing and $30 is about right.

Note that $4000 was volume price at TSMC for 28nm over a year ago, its quite possible its cheaper now.


Im only talking about the asic. Feel free to make your own estimate of costs for the PCBs and PSUs. For reference, PCBs of highend videocards is on the order of $8, and those are very complex PCBs with up to 12 layers and very timing critical due to the highspeed ram etc.

In the US, and pretty much only in the US. Maybe selling unregistered securities is legal in Panama or Botswana, but certainly not in many other countries. US being blocked is just that the SEC is the first commission to move, its not likely to be the last.


Indeed, until you are left with Panamese investors only. Well, maybe not your problem since you are past IPO, but seriously, have you looked in to registering your securities? You still wouldnt be allowed to use an unregistered exchange, but AFAIK, you would be allowed to sell shares directly.