Rather than escrow, which would cause us to have to seek out another VC or other investor...we will instead send out proof of work then begin sales. I am in constant contact with several members of the forum that are involved in the Litecoin Association and other trustworthy parts of crypto we will be shipping units to for reviews (and eventually hosting).

There will be no renting, it will be a user purchases their hardware and we host it for them until such time as its "safe" to let them go out into the wild. We do not have a set gh/s number yet, but assuming a 20% fail rate for fabricated chips, we would put out ~6-7gh/s per wafer. Which is why we are working toward a hosting model that we can hand off to trusted users. This will make it so anyone on the forum can see what our hash rate is on our pool, and see where the miners are being sent to also so that centralization is not a concern.

Definitely, and we may add others to that list also if we can get the site wrapped up and ready to go soon.

Our website will include:

1. Multicoin Web Wallet
2. Sales portal for our miners
3. Mining pool - includes proxy option to use various pools of your choice or our pool
4. Many other features we have not completed integrating yet

We plan to have the site up in the next week or two. We are currently alpha testing it.

Incidentally Fiatkiller, we will not accept any Fiat. We are pushing for adoption of crypto as a whole. Accepting paypal (I assume thats what your asking about.) would undermine that mission.

It should function with any scrypt based coin.


There are so many factors that impact the answer to this question I would not know where to begin.

The estimated hash power per ASIC is conservatively estimated at 960kh/s. I will update this and the litecoin thread when shares and hosted mining and other services become available.



It's just a name, although the sequence is utilized in a few aspects it is not the focus in the current implementation.

https://bitcointalk.org/index.php?topic=368468.new#new Moving discussion here.

https://litecointalk.org/index.php?topic=2702.0 - Main Thread, I do the updates on this page far more often. But occasionally I will hop on this forum to update the thread and answer questions.



The sites shares and sales in a "nutshell":



If you find a bug or have a technical issue non customer service related, please send an email to support@fibonacci.io. with your account info and issue. All previous support requests will be cleared first, then this system will be used from now on.

Side Project: https://litecointalk.org/index.php?topic=12567.0 Open Source PCB for all ASICs

Github:
https://github.com/losh11/aura-asic

The main unit we will be selling is affectionately named the Axiom. Proof of work should be complete this week if all the parts we order arrive, we are going to distribute the information as it is completed. This includes the datasheet and any information that would not reveal our methods of completing our IP. Technical questions are welcome on this thread, we will answer the ones we are comfortable with becoming public information.

Current List of Trusted Hosts
Carnth
Hauntingshade
Sy
Bajanboost
Losh11

Charity Hosts:
Sean's Outpost

Cross posting quote from other forum here.



Our goal is to help build up the LTC community. We have several projects rolling at the moment to do this, some of which will launch this week. And in the next few weeks.

Simple answers to common questions

1. Do you plan on taking pre-orders?
A: Originally we had not planned to accept pre-orders as there was no means of exit for the investors. As a result, we have produced an exchange so that users can sell their unwanted orders if they decide they do not feel like waiting. So yes, we will be taking pre-orders on 3/17/14 6PM EST. This will be for the samples that we have been told should be complete in July (This is the estimate we have been given, not a guarantee.)
2. What speeds/hashrate/power/heat/ram size/model/etc will we be using?
A: Recursion miner at ~8 - 11 watts each chip.
3. How will all these questions be answered?
A: Glad you asked! Well we are going to release an instruction manual for LTC ASIC development. There is not much documentation on how this is done, we discovered to our eternal pain and torment, so as our devs produced the code....they did some writing and took notes along the way on relevant items that were never mentioned in the open fpga project.
4. Can I have one free to test?
A: For now, probably not, we are not rich and we have done all the funding for ourselves up to this point. And a mans gotta eat. One cannot live on bbq coins alone. We will release the information needed to modify the miners to be able to use our ASIC if it becomes necessary.
5. SCAMMM!!!???!?!?
A: If you think we are a scam please direct your money we have not asked you for toward any other upstart project currently running. I hear NVC might be worth a look.
6. When will the Production units be sent out?
A: We cannot be sure until a stable speed at our desired target is achieved at a consistent rate and once a viable competitor comes to market.
7. OMG Moderated thread, you must be running a scam.
A: Derailing posts, and users unwilling to read the OP, if you feel like trolling I will usually reply to you anyhow....but when I get tired of idiocracy someone will probably delete your posts, so lets only troll within reason.
8. Scrypt ASIC, Seriously?
A: Yup.
9. How long have you been working on this project?
A: Its been about a 1.5 years.
10. Will you provide a PCB design for the users that purchase just chips once you begin shipping units rather than hosted mining?
A: Yes, it will be available in advance open source with gerbers, support (when we have time), and debugging and updates (when we have time).
11. Will you ship out massive amounts of miners to everyone and ruin the network?
A: Nope, we will initially only sell hosted mining, then once we have viable competition we will begin to ship the units to the public. This will help slow the advancement of companies reverse engineering designs such as ours. Around this time we will likely be done with our gen 2 or 3 chips and have to clear out the hosted units anyway. We are in discussions with trusted members of the community to help stagger in hand hashing power to continue with decentralization of the network.
12. What price will you be charging for your miners?
A: ~0.115$ per kh/s (0.10$ for LTC) is the current pricing we are using as our baseline. This will likely change a bit, but not much. Once sales of ASIC devices begins ( Not FIB.HW/FIB.SITE shares) then you be able to pay in Cachecoin also, which can be found at cachecoin.org. (Cache is temporarily disabled due to a bug in the wallet we are working to fix.)
13. What is the hash rate and power consumption of the chips?
A: Our conservative estimates are 8-11 watts.
14. OMG Your prices are higher than GPUs, SCAM!?
A: How much power does it consume? Heat? We will be tweaking the design so it may change a bit but we created a miner that consumes under 5 watts and is faster than your gpu. Power costs will recoup in the long run vs any gpu. But that just depends on your situation. If that is not enough to make you buy one I recommend not purchasing one.
15. OMG no way thats too expensive!?
A: We will be creating several variant boards, they will range from a single chip to 32 chips (we may create more too) so please keep your jimmies un-rustled.
16. What are the model names for the units?
                                                                                   BTC                      LTC
A:  Prices are based on hash rate per miner.
   1. Fibonacci Recursion                                             $400        0.10 x 8650 = $346
    2. Fibonacci Axiom                                                 $7200    0.10 x 162000 = $6480
    3. Fibonacci Epsilon                                              $14000   0.10 x 315000 = $12600

17. Is your asic an Hardcopy or Fastpath based ASIC?
A. No, we spent this past year creating a chip that is a full custom ASIC.
18. Will you be charging for shipping?
A. No, it is included in the price.
19. Will you be charging VAT?
A. In most countries we can simply state no, we have our engineering team in Germany so they can ship directly. And most other countries we will simply absorb the cost.
20. Will you be limiting the amount of chips 1 person can purchase?
A. We successfully limited orders at initial sale so everyone had a chance to buy a miner at reasonable price (Including taking cache at a discounted rate) and now will no longer limit sales.
21. When will you ship?
A. Once we see that we have viable competition on the market. Until that time we will host the miners, or send them to the trusted hosts to handle.
22. How long until we begin receiving dividends?
A. Chip Dividends will be distributed once we begin testing the units, the time period in between us receiving the ASIC and starting hashing should only be about 2 weeks.
XFH dividends will be paid out automatically based on how many shares you purchased and accounting for profits per chip sale.
23. How much rack space is necessary to host the units?
A. 1U will hold between 150MHs - 200 MHs.
24. Will you be matching KNC's Titan in $/khs.
A. Yes, we had already figured in a large margin for just such an occasion. Each miners speeds will be increased to match the $/khs rate.
25. If I have 1 XMH is that the equivalent to 1 recursion?
A. Yes.


Informational Video on Fibonacci Project : http://www.youtube.com/watch?v=jiprgb9Yxds&feature=youtu.be
ASIC DATASHEET: PNG for simple viewing.

For those that want full resolution : http://imgur.com/8ASgVod,GnCan8w,d2NiTX7,u12NGhy,7GlgGs1#0

The long con cometh.

https://litecointalk.org/index.php?topic=2702.0 - Main Thread, I do the updates on this page far more often. But occasionally I will hop on this forum to update the thread and answer questions.

Fibonacci Scrypt ASIC Miners

The main unit we will be selling is affectionately named the Axiom. Proof of work should be complete this week if all the parts we order arrive, we are going to distribute the information as it is completed. This includes the datasheet and any information that would not reveal our methods of completing our IP. Technical questions are welcome on this thread, we will answer the ones we are comfortable with becoming public information.

A rough schematic of our "core" asic.






Cross posting quote from other forum here.



Update: 12/9/13  - Updates incoming. There will be a shuffling of domains as we go public with information. Stay tuned.

Update: 11/10/13 - Fibonacci - LTCFPGA.com Is now the Fibonacci project, we have begun to open up more information to the public and we are aiming to go public with all our plans in the next couple of weeks. LTCFPGA.com will be retired soon.


We are in the process of making a FPGA for litecoin. I will try to post updates here when I have time. In addition our site address is Litecoinfpga.com or LTCFpga.com. They will also have updates. And we will be developing the sites soon for the ordering system we are going to add to it in the future.

Our goal is to help build up the LTC community. We have several projects rolling at the moment to do this, some of which will launch this week. And in the next few weeks.

Simple answers to common questions

1. Do you plan on taking pre-orders?
A: No, we will most likely do a hosted mining setup like asicminer did, this is a tried and proven method of successfully setting up orders without mislabeling people as preorder customers. And all the while building good will among the community members.
2. What speeds/hashrate/power/heat/ram size/model/etc will we be using?
A: We will release all of the relevant info to our investors first, then publicly afterward. We do need to be able to build them in peace first. The 1 billion questions will be answered later.
3. How will they be answered?
A: Glad you asked! Well we are going to release an instruction manual for LTC FPGA development. There is not much documentation on how this is done, we discovered to our eternal pain and torment, so as our devs produced the code....they did some writing and took notes along the way on relevant items that were never mentioned in the open fpga project.
4. Can I have one free to test?
A: For now, probably not, we are not rich and we have done all the funding for ourselves up to this point. And a mans gotta eat. One cannot live on bbq coins alone. We will release the information needed to modify the miners to be able to use our fpgas if it becomes necessary.
5. SCAMMM!!!???!?!?
A: If you think we are a scam please direct your money we have not asked you for toward any other upstart project currently running. I hear NVC might be worth a look.
6. When will the Production units be sent out?
A: We are aiming for 6 months from now, but that is give or take 2 months either way. We cannot be sure until a stable speed at our desired target is achieved at a consistent rate.

Edit Dec. 11, 2013 - Added for Bitcointalk.org post questions 7 to 13 -

7. OMG Moderated thread, you must be running a scam.
A: I will only delete posts that derail, if you feel like trolling I will usually reply to you anyhow....but when I get tired of idiocracy I will go ahead and delete your posts, so lets only troll within reason.
8. Scrypt ASIC, Seriously?
A: Yup.
9. How long have you been working on this project?
A: Its been about a year.
10. Will you provide a PCB design for the users that purchase just chips once you begin shipping units rather than hosted mining?
A: Yes, it will be available in advance open source with gerbers, support (when we have time), and debugging and updates (when we have time).
11. Will you ship out massive amounts of miners to everyone and ruin the network?
A: Nope, we will initially only sell hosted mining, then once we have viable competition we will begin to ship the units to the public. This will help slow the advancement of companies reverse engineering designs such as ours. Around this time we will likely be done with our gen 2 or 3 chips and have to clear out the hosted units anyway. We are in discussions with the Litecoin Association to help stagger in hand hashing power to continue with decentralization of the network.
12. What price will you be charging for your miners?
A: 0.90$ per kh/s is the current pricing we are using as our baseline. This will likely change a bit, but not much.
13. What is the hash rate and power consumption of the chips?
A: Our conservative estimates are 960kh/s @ 3.5-5.0 watts per ASIC.

We took a vote within the team, and chose your design as the winner. We will probably alter it for our purposes, but it has the desired effect. Clean, simple, integrates our theme, easily scaled and recognizable. Congrats medUSA. Let me know where to send the btc

Armchair Miner, My main objection to 1% of the posts I skimmed over is - people are throwing words around without even understanding what these words mean, i.e. they don't really know what they are saying.

Examples:

arrogant, narcissistic, thieving, megadouche, scamming, puppeteer, con

If the authors of the post would just quote what (dictionary, if need be) definition of these and other similar words they are using are, then maybe they wouldn't even dispute the use of these words in the first place.

So if the authors of the post don't even know what they are saying, how do they hope to provide anything useful to the readers?

There is nothing.

Yeah its someone trying to pound the site again. I will look into it and see if anything can/should be done.

I am going to wrap this up tomorrow 2pm EST (Florida Time), please submit your sketches or even unfinished work so I can pick through them. Even if its not done we may pick yours, so dont be discouraged if your not quite done yet. We see the potential in them and will pick them based on what we feel we can do with it.

Moral of the story, dont pick up your neighbors cute daughter or someone will steal your bike.

and

This submission was emailed to me by a user who is stuck in newbie jail.

I can modify the colors to our needs later. So pick whatever color you like.

Once I need to start using a logo on our live website, letterhead, etc

Are we back on this again? Some people are comfortable with a small amount of work and a decent award. And this is not a bash session of peoples work, if you dont want to do it, dont. I am perfectly capable of drawing or using photoshop myself, but I would like to have people on the forum involved and benefiting from the work we offer.

There is the possibility that I will not use any of the designs, but I will still pay the bounty to the best one I see.

Its all good, the logo is what matters removing a letter is no biggie.

You are off topic and wanting to focus on an obscure point you are trying to make and still no one cares. If you want to teach people how to think go to mcxnow chat room and talk to like minded people.