Just found this NEWS RELEASE from KnCMiner, all Neptune customers from the first and second batch will receive a second Neptune FOR FREE!!

That means that we will receive a total minimum of 6 TH/s, if my estimate of 4.5 TH/s is correct we will receive ~9-10 TH/s in total .

 

Just dropping in to let everyone that we are still working hard at getting the new website and Hashing Exchange up and running. Nothing of note to mention as we are currently working on the framework which isn't all that exciting.

Regards,
James

Here is the latest update from KnC: https://www.kncminer.com/news/news-83

You bet, that email address is now working and your information is confirmed.

No, 4.5 TH/s is just my estimation using KnC's Jupiter specs.

Hey Bick, I am sending you an email address of someone who might be able to join the EE team.

Hello Cyberius, nice to hear from you!

ATM, SWMC hasn't any hardware hashing because we are waiting for the KnC Neptune to arrive. Current investors will start earning with 300-450 GH/s once the miner arrives and is hashing away. Investors will also receive, in addition to the Neptune hashing share, bonus hashes from SWMC's Hashing Exchange once it is up and running. The hashing power will be figured to provide each investor an amount that will double their investment amount within 2-4 months (adjusted as needed.) Considering that the total BTC invested into SWMC from shareholders is less than 7 BTC, this won't take a great deal of the hasing power and will be a very small precent of the hashing power provided by SWMC's Hashing Exchange.

The best way to get all of the updates for whats happening now with The SWMC, is to review prior posts that I have made starting with post #212

The sunk cost fallacy would only apply if the goal of purchasing the Neptune was to ROI in dollars rather than BTC. With the caveat that the actual mining hash of the Neptune is at least 4.5'ish TH/s and the Neptune arrives in the early part of April, the total BTC mined will exceed our BTC investment approximately by a minimum of 5 BTC (this is assuming that there are no additional factors that arise that will have a strong impact on the difficulty level, whether in our favor or not.)

Thanks Zska for the encouraging words and I agree with you.

The bitcointalk forum app was created by elbandi and can be found in the google play store. Here is the link to Elbandi's thread:

https://bitcointalk.org/index.php?topic=327238.msg3511550#msg3511550

Nothing from KnC thus far.

Posted From bitcointalk.org Android App

Hi Luke, everyone,

With individual miners using their own miningware at home becoming less feasible with every rise in the difficulty level, more and more people are moving to cloudmining platforms. This has the effect of centralizing Bitcoins Network, something that those of us who care more about Bitcoins potential than we care about just making a profit, should have serious concerns about. This issue was one of the main reasons that I founded SWMC. I am always been concerned over threats to Bitcoins Decentralized Network. SWMC is in the process of creating a Hashing Exchange and to help solve the potential threat to Bitcoins Network, SWMC will be offering its users the choice of pointing their mining hashes anywhere they want, or even solo mine if they wish.

This is one of the solutions that I came up with was to address this potential threat using SWMC's Hashing Exchange:

Use a "Master Mining Pool Server" that acts not only as a mining pool, but as a router to other mining pools (including p2p mining pools.)  In order to allocate hashing power owned by a SWMC Hashing Exchange users to any mining pool that they request (an essential element to making this work), the "Master Mining Pool Server" would need to dynamically divide the total hashing power available to it, into as many little chunks as possible and also dynamically direct/redirect the hashing power to the requested pool. Solo mining could be achieved by creating a "Personal Mining Pool" for each user and then have the Master Mining Pool Server direct/redirect the hashing power to their Personal Mining Pool. The Personal Mining Pool owner could also share their personal mining pool with their friends or partners. Personal mining pools could easily be used and would be perfect for crowdfunding projects. It would be a nice way to create a "Kickstarter" like service using the hashing power to fund the projects! Executive Decision: SWMC will make it easy to create and donate to Crowdfunding Projects and this feature will be built into SWMC's Hashing Exchange platform.  (I am never happier than when I think of a great idea that will help people achieve their dreams. )

So here is the question, would it be feasible to modify Eloipool to serve as a "Master Mining Pool Server," or would it be better to create a modular system that used individual instances of "Direct/Redirect Hashing Moduals"  (or a mixture of both) to feed work to the individual Wasps? (I am a member of The Wasp Project Collective and SWMC will be using our design to populate SWMC's mining farm.)

I have offered 25% of all trading fees from SWMC's Hashing Exchange as payment to anyone who contributes to the development of SWMC's Hashing Exchange. Too date, as I have found someone to design the website and exchange, there is only 10% still available. Since having something like the "Master Mining Pool Server" that I have described is essential to the success of my vision for the Hashing Exchange, I am willing to allocate the rest of the 10% remaining to anyone willing to help SWMC build this system. I will also commit to making all the code for the Hashing Exchange and "Master Mining Pool Server" available with an open source license, once SWMC has been operating successfully for 6 months (just to give SWMC a chance to establish itself before going open source.)

I would be more than happy to add p2p pool mining to the options.

Being able to choose how and where to point your miner is an essential component if we wish to to preserve Bitcoins Decentralized Network. That is why SWMC's Hashing Exchange will be offering individuals the choice to mine at any mining pool they want, or even solo mine if they wish.

Posted From bitcointalk.org Android App

Further progress has been made by The WPC on the A1 Wasp test board...

It depends on what precisely you are referring to. If you are referring to the post immediately preceding your own (which is my assumption), then as a financial contributor to SWMC's Hashing Exchange development, you receive a portion of 25% of the total trading fees as outlined above. All costs are paid out of the remanding 75% of trading fees. This is true only for the SWMC Hashing Exchange as that is the offer specified. That's pure profit on the contributors side of this offer, so the ROI estimation is accurate if you assume the values given in the example as being accurate. To be clear, those figures are indeed accurate, but only if the full trading volume as represented is achieved. As with any investment, there are risks involved, so whether or not those numbers are achieved or not can't be known. If you're wondering where the company will make its profits with the Hashing Exchange, it will be in the sale of Hosted Wasp miningware, Bitcoin mining and hashes from SWMC's own miningware sold on the exchange. But this is just one facet of SWMC's business model, there are lots of opportunities to be explored in the future of Bitcoin's economic expansion. Most of these opportunities haven't even been invented yet!

As far as shares in the company itself are concerned, you would be talking about a Founders Contract which does offer 25% (this would be after cost) of company profits as a perk. The back end process of the Hashing Exchange will also handle the sale of company shares and contracts, which will also be tradable, but this function will be a different part of the main website. I plan to expand the trading choices in the future to take advantage of the various decentralized exchanges like counterpartyd or Bitshares PTS (I will never use Havelock!) Investments are made and have rights to profits based on the type of investment made. There will not be board members because that would require a different business model than that which I wish to use. (I just simply wouldn't function well in that type of political environment.) Even so, I would never ignore those who are supporting SWMC and will always seek to make them happy and be worthy of their trust. Voting on specific actions will be offered based on need and customer opinions and if it seems the best way to resolve a serious issue.


If you look around at other industries, you'll notice that, for the most part, there are at least three companies at the top of the industry, these are often referred to as "The Big Three." So far, there is only one company of note that trades mining hashes like a commodity and that is CEX. One issue with CEX is that you have to use your mining hashes on their mining pool. Not so long ago, CEX's network hashing share was threatening to surpass more than 50% of the entire Bitcoin Hashing Network, this resulted in fears of the dreaded 51% attack becoming possible and a loss of a significant of support for CEX.

One of the ways that SWMC would use to avoid such concerns is to allow those who exchange hashing power on SWMC's Hasing Exchange to choose their own mining pool or even mine solo if they wish. Combine that with hosted mining that offers the same benefit, then I believe that The SWMC Hashing Exchange's model will have a great deal of support within the Bitcoin community and that will lead to a successful business model.

Additionally, as time marches on, the costs of Bitcoin mining will rise beyond the ability of most individuals to afford (to keep up with) on their own. Just as mining pools helped solve this issue before, collective participation in mining farms will be a similar solution moving forward. Hashing exchange platforms and similar solutions will become the norm, so the market will only increase as things progress in this direction. It's advantageous for SWMC to establish itself while this trend is still in its early stages. It is also advantageous for investors to take advantage of any offer that gives them a significant portion of the income generated by trading fees. It may not be so much now, but the potential is significant as time and the associated market share progresses. In the future, a volume of 4000 BTCs worth of trading in a day will seem rather small for a single exchange.

The concern of the Bitcoin community over keeping the Decentralized Nature of Bitcoins Decentralized Network sanctimonious will limit CEX's ability to grow, but does allow other organizations to flourish if they offer a way to profit/participate in Bitcoin mining and help preserve Bitcoins Decentralized Network at the same time. CEX's enormous coffers do not compare to the total funds available amongst the Bitcoin community as a whole. So if SWMC gains significant support in the community funding shouldn't (won't) be an issue. Besides this fact, it isn't SWMC goal to surpass CEX or beat them in any race for hashing power. As a faithful believer in what Bitcoin can provide to the world, my goal is to support the Bitcoin community and the Bitcoin Network as best as I can.

I believe CEX already uses their own hardware design using bitfury chips. So if they switch to Wasps, I don't see that changing much at all. On top of this, CEX doesn't market their hardware and all of the hashing power that they sell is on their exchange. Again, I don't see that changing much even if they adopt the Wasp designs. Add to this what I just mentioned above and I have even less concern about this issue.


Well, CEX didn't just materialize into existence one evening all ready to go, they had to grow over time. As SWMC needs to expand its capabilities, it will do so. The rest of what you mention is just the costs of doing business and when the time comes for those things to be added, well, I need not repeat my statment.

I believe I already addressed this point.

NP!