I'm still trying to figure how Josh and al. justify buying a mining device that will mine less BTC than it's price in BTC but I can't.
I really tried hard to understand their logic but that doesn't make any sense to me.
It's how they soothe the pain of loss. It hurts when you make an investment and lose. Deep down they know they lost. But if they can pretend like they made a profit, they won't feel as bad. |
|
|
|
I don't buy miners in BTC, I buy them in USD. If I make more USD than I paid I have a positive return.
But you'll have more USD if you just buy the BTC and hold them. Why do you want less USD? |
|
|
|
I hate to say it, no offense to TH or anyone else, But don't these guys and their approuch strike you with professionalism and genious...watch their video, very impressive,,,of course the proof is always in the pudding :0 http://cointerra.com/Flashy video: Good at spending money on marketing, not on products. Here's a truly impressive video. http://www.youtube.com/watch?v=kYyrNhLwrn0An actual working ASIC. That is the only thing that counts. Not flashy marketing. Terrahash: Challenge FAILED. Do you realize you are sabotaging your business by not following through on your promises? At the very least you come on here and post an update why you failed and the progress you did make. Silence? Unacceptable. |
|
|
|
Hello! My wife had BTC in Mt. Gox but forgot she had a sell order in place, and it sold about 80 BTC @ $135.
So.. now we're with the rest of those in MtGox wondering OMGWTFBBQ is happening with USD. That said, I've been out of the loop for a while with them, but I am wondering... any chance of withdrawing successfully to a US account in my lifetime? Has anything changed?
Rather not market buy @ $145 or more to be able to get out of Gox, but I figure that's probably what needs to happen.
How soon do you need the USD? USD wires to the US have basically stopped. The "2 week" backlog is now over 2 months long, and shows no sign of improving any time soon. If you can wait, ride the wave. Put in a buy order at $125 and end up with more BTC than you had. |
|
|
|
 - 365GH vs. 60GH. - Silent vs. loud as fuck - Waiting for 13 months after payment vs. waiting for one month after payment - Both units are around $60/GH. Both use ~270W when mining. They are almost the same size. Great comparison. |
|
|
|
Nah, there is gaping flaws. eg. BFL were not a startup, they were selling FPGA hardware well before ASIC, secondly pre-orders are common, just look at the PS4 for example, or many game titles.
I wish more ASIC vendors followed the PS4 pre-order model. I can pre-order a PS4 for 10% down. |
|
|
|
If they can legitimately deliver by late February
They can't. |
|
|
|
CoinTerra needs my money 4 month before they are able to deliver.
These hail-mary hardware vendors just aren't interesting to me anymore. They have nothing to show, but ask for everything up front. Now we have Bitfury putting out cutting-edge miners at reasonable prices with minimal lead times. Bitfury has set the bar. |
|
|
|
Assuming:
2) 0.12 USD per kWh
Long-term miners are going to shift to much cheaper electricity. .12 USD is not sustainable. |
|
|
|
|
Any "vendor hate" here is well deserved. bASIC fucked up. BFL fucked up. Avalon fucked up. Intentional or not, they fucked up big time. They deserve all the hate they're getting. You want to eliminate the hate? Eliminate the vendors that have fucked up. Give them 3 strikes if you feel generous. Miss 3 promises/dates/specs/etc. and you're banned from participating in this forum.
|
|
|
|
We shipped the miner with a web-gui, that enables easy setup, but lot of features didn't make it to this first version. We thought, however, it would be more important to you to get hashing, so we shipped with a bit unfinished software. I'm sure it will get much better with time..
Unfinished is fine if it works, and the sources are available for any open source software included in the delivery. |
|
|
|
|
You can't get a Jaly for $274 delivered in Aug. There's a backlog of orders. Retry your calcuation with a Oct delivery date and see if that is an attractive investment for you.
|
|
|
|
Just to try to draw a comparison: Would you consider the PS4 vaporware? Hundreds of millions in preorders for that box and no one has seen all the secrets inside yet.
The PS4 is a great example. Sony has a track record of releasing several generations of consoles, so there's not much risk that they won't release the PS4 near the scheduled date and specs. Prototypes have been demostrated in the public at numerous shows. 3rd party developers have confirmed the console exists and are working on games for it. The product already exists. It's not just a sketch on a napkin. http://www.intomobile.com/2013/08/20/walmart-begin-ps4-and-xbox-one-preorders-august-24th/Snag a pre-order for 10% down. That's how pre-orders should work. |
|
|
|
Purchase a widget that costs 10 BTC and will generate 400 BTC, valued at $2 each or
Purchase a widget that costs 10 BTC and will generate 5 BTC, valued at $200 each
Invariably, the answer will be the second option, even though that person could have increased their BTC holdings by 40x! Very few people want BTC for BTC sake, they want BTC for what value it provides in their local currency. Again, you may be different, but you are in a very tiny, miniscule minority.
Ok, you give me 400 BTC and I'll give you 5 BTC. We can use John K. for escrow if you're uncomfortable with the trade. I'll even pay the escrow fee. |
|
|
|
|
I'm out. 2 months later and they still couldn't give me an ETA on when my transfers would be completed. I cancelled my transfers and took the 5% special transfer wire option. Funds landed in my bank 3 days later.
|
|
|
|
And why is it so ridiculous to think they may have learned from past mistakes?
They keep repeating the same mistakes. 1. The form factor. They keep trying to cram as much heat as possible into as small an enclosure as possible. Nvidia and AMD have trouble venting so much heat in such a package. BFL now has better cooling designers than Nvidia and AMD? 2. Feature size. 28nm ASICS are much harder to get right than 65nm ASICs. Look at how long they took for 65nm and double it. That's what it's going to take. 3. Progress? Ooh, they have a 3D model of a video card. Underimpressed. Tapeout hasn't happened. There's tons to do even after they reach tapeout. and so many more reasons. |
|
|
|
Potential heat and power concerns as well given BFL has failed each time they have come to market... another big what if they mess it up again?
No, no, Honest Abe, they won't make the same mistake twice three times. |
|
|
|
There's a lot to consider. Pre-orders are open now (Yes, I know BFL's history, no need to discuss further) and early adopters of new ASIC technology have often been greatly rewarded for taking some extra risk. I'm taking that little extra risk and have converted an April pre-order for a Monarch. And now I want to read what other people think, specifically about the Monarch and not about BFL's well-documented history.
Let's assume that BFL does everything perfectly and ships the Monarch in Feb. It's overpriced. KnCMiner, HashFast, CoinTerra, and BitFury will have better products long before then. |
|
|
|
Things move fast in the mining world so specs only matter if the company can deliver as advertised when advertised. Those that trusted BFL @ 65nm paid the price, now they want to tell you 28nm will be different.
The funny thing is they said the same things about the 65nm product. Honest Abe, the SC line will be blah blah blah. We know how that turned out. |
|
|
|
so now take the total number of orders which is around 500Th and multiply by 6-8 and you get the 3-4Ph that BFL will deliver.
I know it's a TON of guesswork here - which is why I give an error margin of 3-4Ph from BFL.
A while ago they had 75 wafers on order, with 1000 chips per wafer that's around 300 TH/s. Unfortunately they haven't announced ordering any more wafers. They're going to have to order a lot more wafers to reach 4 PH/s. |
|
|
|
|
Show Posts
