Try this, DIY ASIC: THE WASP.

As Vanderi indicated, KnCMiner has announced there Next Gen Miner (20nm asic.) Details are sketchy atm, I think it would be a good idea to consider a GB for these units. Does anyone have more information other than what is(n't) on the KnCMiner website?

OK, so here is the plan so far.

I have asked Bicknellski for some details (particularly about cost) and he provided me with even more information than I asked for (Thanks Bicknellski!) Bicknellski also had some very useful suggestions.

Here is a portion of his response:


He added:


I think that going with Bicknellski's advisement is the direction that I would like to see this go. So here is a call for qualified individuals to join SWMC (<ode to Vanderi) and start preparations for fabrication. Lets make this an open source effort with many satellite operations working in tandem for the good of the HIVE .

The best option for SWMC is to serve a dual function. If there is support amongst you guys, I suggest we: 1. Fabricate Wasp and Hive units to power SWMC's very own mining farm. 2. Provide a low cost/at cost fabrication service for SWMC partners (and offer low cost hosting.)

It seems logical that #2 is the best way atm to hedge against corporate dominance over the bitcoin network (e.i. keep cost as low as possible for the average individual.)

As I have learned (the painful way), there is only so much that I can do as a single individual. There is allot of work that needs to be done and, although I could do any particular task myself, I cannot do all the tasks myself (at least not in any realistic time frame.) So this is a call for participation to join SWMC by offering your talents to the HIVE.

I do not expect anyone to offer their services for free, so we will also have to all agree on a way to provide future compensation to current participants.

I will start a ZOHO project (<ode to Vanderi) so that it will be easier to communicate. I may also create a forum just for this purpose.

I will continue to add additional details as I work through the options available and as I gain greater insight into the costs and needed tasks.

We will also need to raise capital to cover some of the initial costs. SWMC will not except donations, but if you would like to help support this GB project you can make a contribution in several ways; Make a pledge (e.i. exspress that you are willing to cover certain cost and pay them directly,) Make a contribution by starting an escrow account to fund specific tasks for the project, Make a contribution to the address in my sig.

All of these methods will entitle the contributor to a stake in the SWMC mining farm or credit towards fabricated hardware and perhaps additional benefits.

I want this to be OUR porject, not just my project. So, if you have anything to add or wish to suggest changes or certain additional features,... PLEASE... DO SO!

Thanks,
James

**Prototypes for the Wasp Project are expected in December.

Thanks Vanderi, like I said, I knew I liked you for some reason. 

Thanks for the offer! Let me know what skills or resources you can bring to this project and I'll see what you might be able to help with.

Thanks DZ,

I am very happy that You have allowed me to join your group. I believe that we have common goals and I see great potential in our partnership.

I am considering whether to base the first GB on The Wasp project. Do you support for this?

On the contrary, I want this to be done with average individuals. I want DECENTRALIZATION. To join with a single, or small group of entities would be just the opposite of what I am working for. I want 'We the People' to own the factory and therefor we will own [our own] the future. So the foul stench you sensed in the air was not from me.

Thanks bobsag3,

Although, in order to stay ahead of the curve, I think we are trending towards a matter of hours to day's on execution for miningware purchases. There are very deep pockets out there who can easily afford to purchase the vast majority of available miningware. Those deep pockets have leverage on multiple fronts so their pockets will only get deeper. How will the current GB methods be able to be effective when the only way to afford to mine bitcoin (e.i. not operate at a lose) is to have the ability to purchase in high volume with, say, $100,000, $250,000, $500,000 or more? It is possible that the long term trend will be towards manufacturing proprietary hardware, chips and all. It may even come to the point that you have to produce new chip architecture on a monthly (weekly?) bases just to remain competitive. How do you organize a group buy for $100,000,000 to purchase an entire high-tech manufacturing facility? This is a threat to the decentralized nature of bitcoin.

On a positive note, the whole push towards faster, cheaper miningware combined with the profit motivation (I predict) is going too lead to the most astounding and rapid advancements in human technology in the entire history of man. (Ahha... the wonders of bitcoin!) [As a side note, I have conceived of a rather novel approach towards a new kind of processing architecture of which one of my physics professors agreed was revolutionary in concept and is plausible in practice. ]

I am really enjoying this discourse, lets keep it going!

Thanks,
James

@Vanderi: I think that you are beginning to grasp the difficulty of what I (believe is necessary) trying to accomplish. The most difficult aspects are:

1. Conveying the urgency of the need.

2. Gaining acceptance as a solution provider to a problem that is only being hinted at currently [most aren't presently convinced of or recognize the need (or the urgency).]

Vanderi suggested that a Dream Group Buy would be with a GBC that had many connections to hardware suppliers. I am requesting information from anyone who is or has connections with miningware suppliers/manufacturers as well as those who would like to facilitate such arrangments. Please send me a PM with your info.

Thanks,
James

I love to challenge absurdity, but I am not in a strong enough position to cause BA to notice or care. Otherwise I would consider it.

Credit were credit is due. You are a very astute individual (I knew I liked you for some reason. )

Now to explain, I know what I want to say (or rather offer) and I have attempted too. My purpose is to understand better how to best present this idea as well as to gauge its support. Perhaps the point of the 'perpetual group buy' was lost in the heavy thatch of the rest of my persistent diatribe.

My reasoning behind this is that my assessment of the future of bitcoin mining is a rather bleak one for the small time miner (actually, for any sized 'mining farm' besides a handful of 'mega mining farms.') The necessity of constantly increasing ones hash rate to continue profiting from bitcoin mining has also resulted in the necessity for larger lump sums of cash to purchase the mining equipment, even though the cost per hash rate continues to decline.

The push for the 'holy grail' of miners has resulted in faster and more efficient 'miningware' (<< new term, lets adopt it  ) but most of this equipment is too costly for the majority of individuals (at least in the sense of keeping up with the ∆difficulty level) hence the need for the group buy. I believe that the next two or three waves of new miningware will push the cost of said equipment up so high as to be out of range of even today's GBs ability to raise funds to purchase them.

The group buy was formed to solve the problem of the high cost of new mining equipment when the cost became prohibitive for the majority, but the current GB model is becoming less viable and will become just as obsolete as the model of individuals building GPU and FPGA clusters at home. What we need now is something akin to pooled mining. Just as we rely on the pool managers to keep everything going smoothly, we need to begin relying on miningware purchaser/operators to manage our profit potentials. Doing this will lead to a more efficient model for buying miningware and increasing bitcoin mining profits.

We must, and I mean MUST, come to terms with this new paradigm and create such a system. I know many are working on different aspects of this concept but it is time to pull these diverse efforts together into one cohesive and more effective mechanism (although, we need to continue to view this an open-source like effort.)

This is a large part of why I began this venture. I am a 'true believer' of what bitcoin stands for (or at least what it has come to represent.) Because bitcoin (as an icon) means a great deal to me, I have been troubled by the direction that the bitcoin dynamic has been taking. The decentralized nature of bitcoin is at odds with the trend towards centralized mining. I perceive a danger in this trend as it makes large mining farms vulnerable to the trappings of large corporations (greed, political pressures, usurpation and a host of other nasty consequences.) The best way to prevent these negative predictions is to inspire a greater community effort, based on cooperation for mutual return, to steer this behemoth back onto its intended course. Essentially...

We, As Members (Dare I Say The Progenitors) Of The Bitcoin Community, Must Show Care And Concern For One Another And Realize That Doing So Will Benefit Us As Individuals Just As It Benefits The Group.

Otherwise...   we may endure a kind of bitcoin 'dark age' were the promise of bitcoin has been usurped by the self interest that naturally forms from large industry....

I think that I have reached the limit of my allowed time on the soapbox... at least for now....  

As stated in regards to Vanderi, I also will give credit were credit is due in regards to thoma_s, you indeed did offer advice (of which I am much appreciative.) And I don't really mind so much about the discourse between thoma_s, [bobsag3] and bitterdog (who also deserves credit for his stance in regards to fairness,) so long as the point of the OP is not a casualty of war.  

@StefanThePro Looking forward to your contribution!

I have noticed the viewed count is growing but there is a limited exchange of ideas, if your reading this and think that you have a good idea, please contribute to the discussion,

Thanks!
James

Do you think that 15% is enough to keep up with the ∆difficulty level? My rough estimation is ⅔. Seems like a lot but you are more likely to have a ≥ profit over time rather than a profit that is in constant decline.

I have considered the difficulty involved with the standard GB methods. Specifically, the issue with offering a GB and then waiting; 1. To see if there is enough support for the miner/GB. 2. For the completion of funding (possible missing out on the earliest/best buy opportunities because reaching full funding takes to long.)

Question: How would you suggest that we address this issue with the goal being to maximize profit potential by reducing purchase delay's?

Great Feedback!

This is what I have been looking for! (I know, I know... best way to find out what someone wants is to ask.. not tell...  <<to myself.)

@Vanderi: You sum up nicely the very thing that I have been trying to accomplish. The most profitable strategy when approaching bitcoin mining is the rapid re-investment, or as you put it, the perpetual group buy concept.

@thoma_s: I think the issue for me has been that I have a tendency to explain an idea by trying to represent every single thought I have rather than just trusting in the intelligence of those I am communicating with, for that (to all) I apologize.

@Bicknellski: The Wasp/Hive approach is along the lines of what I was planning on in the future, since your team has done all the hard work already it would be logical to work with you guys. I'll send you a request PM for more info.

@lajz99 I'm sorry, I don't understand the reference, could you elaborate (or point me in the right direction?)

I am going to attempt too incorporate all of your suggestions into my next offer, so keep them coming!

Thanks,
James

Ok, guys. Here is a little information about me.

I have been vetted by DyslexicZombei

I am a studying for a degree in Computer Engineering.

I have a business partner who runs a trusted and popular electronics repair business who has agreed to allow me to host the company mining rigs at his secure site.

There are techs available onsite to attend to the mining rigs when needed.

The facility houses servers and other computer related equipment and has high speed internet connections at its disposal, so all of the needed infrastructure is present at the site.

The facility has the proper cooling equipment in use.

It is my intention to play a large roll in the bitcoin community, so I'm not going to disappear.

I have been working many weeks on building this company without pay and without guarantee of success because I believe in the idea of what bitcoin stands for, I am a true believer.

I have a total of 11 investors who have, with one exception, invested less than 0.6 BTC each. It doesn't sound like much but I have been able to insure that each one of them will receive at least twice their investment within the next few months. The company will be generating a profit of at least $100 dollars a day in about 60 days from now and that will be scalable to approximately $500 a day or more. All of this has been done with only an investment of ~6.5 BTC in total. Here is a link to a spreadsheet that shows the schedule of how the income is predicted to increase. Spreadsheet

So here is my question to you, what miner should we choose for this GB?

What kind of hosting do you want, free with a slow but steady increase in profits - OR - the standard GB method with paid hosting and the eventual retirement of the mining rig?

What kind of ROI do you expect, 5%, 10%, 15%, 25% or more?

Anything else?

The more I know about what you expect and what you will and will not except the better I can server your needs.

Thanks,
James

I just checked my order status on the 5 Terraminers, Cointerra has finally canceled the order. I suspect that that means they are getting ready to ship and are clearing all unresolved items. Really disappointing, I have been trying to get those miners financed for months.

Thanks

These miners are not paid for. Essentially Cointerra made a mistake with my account so the have promised me that my pre-order will stand. That being said, December is nearly here and those miners have to be paid for or the order definitely will be canceled. All that hashing power will go to us or to some fat cat who doesn't really need it. So lets get this thing done.

OK, So DZ just contacted me. He and the other guys are overwhelmed by their current GB's so their not able to help out to much with this one. So its going to mostly be you and me. He did have plenty of advice and I'm going to adjust to said advice the best that I can. First, I am going to relaunch with a trimmed down version so I will be locking this thread and starting fresh.

Thanks,
James