Well,mining at home will be dead VERY soon.With power costing me .13 cents per kwh,I've already sold my 1 TH in Antminers. I saw the end coming & sold my miners while I could get a decent amount for them,had I waited another month or so their cash value will have decreased by a significant amount. Sooo,unless BTC hits $700-$1000+ & STAYS there,I personally don't see it staying at those prices for very long,NO miner is worth it at ANY price. Even if it does,we already are knocking on the 100PH door & its early June,150 looks easy to hit by Sept & 200 by years end or shortly thereafter,so the diff is going kill any at home mining projects. I wish you the best of luck & will be watching,but you may as well just make miners for datacenters,they will control network very soon............ ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) Dear me, that's a very pessimistic attitude, If you look at our plan, we predict a network hash rate of 280PH by December...our systems will still be very viable at that time, please look at the section about 'Jane', our typical citizen from Colorado who pays about the same you do for electricity. Look at the prediction we made for her earnings using our Guaranteed Supply Program, it was based on BTC at $500, not $600 or $700. Jane would make over $2200 off her miner plus the upgrades in 2015, even when the network hash rate hits 500+PH by the end of 2015. So please look at the plan again. Thanks for your good wishes, please keep watching our project, if you would like to be added to our e-mailing list, drop us a line. Well.lets see....I've been mining since June 2011 & started with $1000 in vid cards & PC parts & made out very well.Well enough to upgrade with my earnings until now....the cost of miners & power consumption is what has turned me to altcoins,those will be hit with diff rises soon too, but with many coins to choose it'll be easier to keep going.Not to mention considerable reduction in power consumption & lower cost of miners. I read your plan & IF you keep your prices low & IF you deliver,it MAY work.I personally can't chance it.December is a long time to wait for a return,if it works........... I've been unemployed due to our wonderful bank & wallstreet greed & our gov's failure to get the economy rolling & inflation under control.So my personal earnings are not going to feed the miner makers. Yes I am a pessimist,you would be too if you were in my shoes..... 30 years of construction & service industry work(HVAC install,service/Electrician/Plumber/Carpentry/Roofer/Painter) that is worthless here in Fla.............. Sure, I appreciate the feedback. We don' know what will happen to the value of BTC or the network hash rate in December any more than anyone else does, but we think our predictions are pessimistically realistic - if that makes sense. I'm genuinely sorry to hear about your situation. It's not nice being made redundant, or worse still to be made to FEEL redundant, especially when you have spent the larger part of your life in a skilled job. I've been there and it's not a good place. Hope that you get work again and get back on your feet. Just as an aside, have you thought about trying to get work in the UK or the Middle East? the UK economy in South East England is on a roll just now, and there's lots of jobs in construction (residential and commercial). I can't see a skilled US citizen having any problems getting a work visa. Try looking on indeed.co.uk or monster.com. Good luck,
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next ken slaughter? or labcoin team? amt?
wall of well crafted text and 0 technical answers.
summer 2013 bullshit preorder times are ended
sorry you are late for the party, now only whales can play this game
crumbs from community are out of your range too
so please delete your fresh account, forget about this forum and start creating roulette guides with refferar links.
you and your dreams/ideas/wasted time means nothing here.
sorry.
Well, thanks for the compliment on our proposal. Nice to know that you at least read it, but it would be helpful to get some detailed feedback as to what you think is missing technically?
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The driving force behind Novello is a group of professional engineers based in the UK with over 120 years combined experience in the design and manufacture of complex, highly reliable electronic systems and devices.
Best team untill now, if the 120 years combined is true. Any team with that much experience will get a loan from the bank.
If you approach a bank for a loan, they measure your creditworthiness on what security you can offer. Your experience is only one of the 'risk' factors they consider, but ultimately they want a means of getting at least some of their money back if you fail. That's the bottom line in the UK, it might be different elsewhere. A VC company is totally different. They do consider your background and experience and consider it essential if the project is to fly. However, they can place constraints on what you do, and of the 3 that we approached, 2 offered funding but their constraint was that the asic would only be used in-house; no sales to Joe Public, no design bureau to help start ups. No from us.
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We've answered this already. If you don't like what you read, then don't buy from us, simple as that.
By the way, how long have you been working for Spondoolies?
You want people to give you millions of dollars, yet you want to remain anonymous. You'll never reach your funding level on Indigogo. But good for you, you selected the "Flexible Funding" option, so that you get all the money no matter what. The perfect scam. Public Service Announcement
This "company" will fail. They do not have the funding, nor the expertise, to make it to a final product. Invest only what money you want to lose. They will never deliver a miner.There is nothing anonymous about the company or it's director. But thanks for answering our question, good to know you've got something to keep you occupied.
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Well,mining at home will be dead VERY soon.With power costing me .13 cents per kwh,I've already sold my 1 TH in Antminers. I saw the end coming & sold my miners while I could get a decent amount for them,had I waited another month or so their cash value will have decreased by a significant amount. Sooo,unless BTC hits $700-$1000+ & STAYS there,I personally don't see it staying at those prices for very long,NO miner is worth it at ANY price. Even if it does,we already are knocking on the 100PH door & its early June,150 looks easy to hit by Sept & 200 by years end or shortly thereafter,so the diff is going kill any at home mining projects. I wish you the best of luck & will be watching,but you may as well just make miners for datacenters,they will control network very soon............ ![Sad](https://bitcointalk.org/Smileys/default/sad.gif) Dear me, that's a very pessimistic attitude, If you look at our plan, we predict a network hash rate of 280PH by December...our systems will still be very viable at that time, please look at the section about 'Jane', our typical citizen from Colorado who pays about the same you do for electricity. Look at the prediction we made for her earnings using our Guaranteed Supply Program, it was based on BTC at $500, not $600 or $700. Jane would make over $2200 off her miner plus the upgrades in 2015, even when the network hash rate hits 500+PH by the end of 2015. So please look at the plan again. Thanks for your good wishes, please keep watching our project, if you would like to be added to our e-mailing list, drop us a line.
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We have nothing to hide
Then come clean. Who the hell are you? This is what a real company with real people looks like: http://www.spondoolies-tech.com/pages/team[/quote} We've answered this already. If you don't like what you read, then don't buy from us, simple as that. By the way, how long have you been working for Spondoolies?
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+1 !! Hi Novello - please let us know: 1) You state that your miners will be covered by 2y warranty YES/NO? 2) You state that your team have extensive exp. but fail to introduce key people in your team - I do not need CVs, but as all here said, what is your exp. in related fields - at least business & tech fields (any previous successful businesses /or relevant employers) ? Even significantly smaller projects on IGG care to introduce their teams shortly... 3) You go for 4 mil USD IGG campaign & said there, that you expect to need at least 1mil for chip R&D - yet you go for flexible funding option on IGG - which means you will take whatever money raised - what will you do, when you have not raised targeted 4 mil ? Will you close business ? Or do you have some risk management plan for this ? And what about your customers - will you refund them ? Whats the plan here ? Did not see it on your campaign page... 4) Last one - will you offer full refund, if you are not able to start delivery by late December ? Will you commit to this or offer any other compensation ? Again not a word about it in your post or on IGG campaign page. Thank you very much in advance for honest reply and good luck with your IGG campaign! Thanks for your very pertinent post, I'm please to answer what i can at present: 1. Yes, warranty is 2 years. If you look at the section about the chip, you'll see that our design spec is for maximum die temperature of 75C. That should ensure the chips have a long lifetime. 2. Please see our earlier post about this. Our engineers have extensive experience in mil/aero systems design and in industrial control, to name but a few. Problem is, you can never really trust what people say about themselves online, can you? We expect people to look at our whole proposal, not just one bit. It's not all about the chips, this is a carefully thought out and structured plan. 3. We have set a target on IGG to show what need to do the job properly. We are trying to source funds from other avenues to supplement this, including funds of our own. It won't come as any surprise to anyone that's read our plan that we have worked out several options if we don't reach our target. Before we did anything including drawing down the IGG funds - we don't get funds until after the campaign ends - we'd go to our customers with these different plans and ask their approval to proceed. If they say no, then we don't take the money, simple as that. 4, We have targeted delivery for the end of December as you say. Naturally as engineers we have built in some padding in our timescales to allow for the inevitable problems that will appear. We will keep our contributors and other customer fully informed about what we are doing, good and bad, just as we did in our plan, but if there was going to be a substantial delay then we would give customers an option to cancel and get their full payments back. If you would like any further information, please feel free to ask or email us directly.
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I dig around your post about VAT and Limited company. Ok, so in UK to become VAT registered company you can call number and tada! DONE To become Limited company is even less hassle than CIS card for simple simon from construction site. Please let me know if you asics will look and work like your website? Because even steve wonder would create better site with wordpress and free templates singin https://www.youtube.com/watch?v=b2WzocbSd2w#t=8 once all finished. Come on guys give us real proof this is not a joke. We don't have any asic's at present, thats what the funding is for. The website isn't pretty, but we never actually intended to get it up until nest week. Considering the number of people who have come on these forums trying to take your money with whizz bang websites, our's should come as a refreshing change. Why don't you read through the plan? There's a lot of information in there which I'm sure you'll enjoy reading.
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While it all sounds interesting, and there is some technical info in there, alot of others have come before with info. The real onus is to provide technical depth to show us that this is the real deal. There are some very knowledgeable people on here who can validate any claims of performance.
Many of us have been burned by pre-orders....telling us you are another pre-order, even if its on indiegogo, needs significant validation to make traction. Inflated performance specs have also caused damage. We need to be sure we truly know what we are getting into and that requires honesty on your part if for some reason your product will not meet those performance targets....also what kind of experience do your engineers have? Spondoolies comes right out and says it....Intel, Motorola and a couple of others.
A champion thoroughbred always has his lineage as a validation of his champion status as that pedigree is what can ultimately (to some degree) determine fitness (in this case success), a parallel to race horses and dogs that applies to business in many cases. What people want to see is your previous track record of success. That will determine whether this venture could also be successful. Having a nice marketing friendly resume is not going to cut it. Solid tracks records of success is what matters. We want to
We need to see alot more than marketing speak and a different way of approaching the community. You want to deal in facts? Great so do we. Technical and non-technical facts. The corporate hunters on here are relentless and will pick apart your every word. Its what they do. Some will never be pleased until you have proven yourself. And that will require alot of effort on your part to make happen. It's frustrating to deal with the forum aspect as it is (for you) but going on cryptocoinsnews does not mean you have legitimacy. BFL has HUGE market mindshare and are still pulling the crap they are pulling. Quite a few other companies have been featured on news sites and well now they are on there for different reasons...
From what I read you have a sound business plan. And you obviously get people's frustrations with pre-orders. But you have ALOT to prove before people open their wallets to you. You will surely also have the paid shills who will attack you as they work for a competitor (which is happening)....but prove yourself past all that, and you will win. Low priced miners are a great thing...but until we see something, its all snake oil. Hopefully you appreciate this perspective.
Thanks for your post and input, it's much appreciated. Contrary to what you say, the forum crowd are actually very easy to deal with, I 've been dealing with blue chip customers for nearly 40 years, and believe me when I say that the forums are child's play by comparison. Yes, we are fully aware who's the 'shills' and fanboys on here, but we are professionals and don't rise to their bait. There's plenty we could say about them, but that's descending to a level we don't want to visit. We have nothing to hide, but to come on and declare the provenance of our staff - which you can never validate or check, no reputable company will tell you a thing about their employees - seems a totally fruitless exercise. If we had wanted to scam anyone, we could have got 5 random people, photographed them in suits and bunged on some made up cv's on Linkedin. We didn't because we're from a generation where actions did indeed speak louder than words - especially words spoken when hiding behind an alias. Exactly how successful have the companies been that have trumpeted on about their teams and people? As for our design, any idiot will realise that we are not going to open our design files for all to see. Any half decent chip designer or competent electronic engineer knows full well that SHA256 is essentially made of three simple digital blocks: flip flops, full adders and 32 bit fast adders. A snippet of information about one or all of them is all you need to know how someone is doing something different, and we're guarding our snippets very carefully. It's funny that no one has yet come to us and said "you can't do this or say you have x performance because........." and there's a good reason for that. It is feasible, it's a question of implementation. Give that away and you lose your business edge. We have told you what our margins are, and broken down how the money will be used. Now that is verifiable, and any competent engineer will confirm it's accuracy. We've actually structured a design rather than saying we have a pretty box, and thought through how to implement it. Do you really believe scammers would go to so much trouble? Most of them have trouble spelling. The funny thing about our pitch is that it seems that no one has actually read it right through. Our post was originally part of a larger business plan, an so we expect that most of the forum users aren't used to seeing something in this format or so comprehensive. It's about 20x larger than any other initial pitch and tries to address virtually everything about what we want to do, and how we intend to get there. No other 'new' company has ever addressed most of what we have addressed in our plan or stuck their neck out and made predictions. No other company has warned you to check and recheck what you read, or addressed the elephant in the room, namely the companies/people who are quickly taking over Bitcoin mining. Ultimately, time will tell if we get our funding or not. if we don't, it will have been a good learning experience. If we do, then we hope to be able to restart the mining scene so it once again becomes open to anybody.
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our engineers have completed over 20 custom chip designs during their careers including ones for very high volume consumer electronics projects.
Battery-operated low-power consumer electronics aren't really relevant to mining hardware which is high-power application that pushes itself to the edge of death: either thermal from overclocking or starvation from undervolting. We’re also making extensive use of analogue design techniques to minimise noise and reduce supply voltage – again saving power. Every transistor we save, shrink or optimise saves power, and overall this results in greater power efficiency.
Good. Analog and mixed-signal design flow is the way to go. Now please get back with your engineers and post some results of your preliminary simulations. E.g. which version of BSIM did you use? You could post some fragmentary results without disclosing the entire design. This board has enough people that will understand such posts. And disclosing some technical data (even incomplete) will be the quickest way to distinguish you from all the previous scammers who only had marketroids at the ready and literally nobody to back them up on the technical front. Not sure I understand what 'fragmentary results' you would like to see?
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If you'd read the text then you would have clearly seen two names mentioned. You can also see the Indiegogo page and who's leading the project, so I suspect you may ave simply skimmed over it. . Now, if you really think that we're going to present detailed CV's to a poster on a forum that hides behind a username, then that's simply not going to happen, If you want an engineering or financial discussion, then we'll gladly have one.
You don't really think we are going to trust millions of dollars to a "marketing professional" and "Technical Manager" right? You don't need to present a detailed CV to give us a name of your HW/FW/SW engineer and what experience they have. Also your claims sound like BS. I suppose you don't have a shred of evidence to support them? Yes we have, but even if we were inclined to hand details of our chip design over to someone that hides behind a username, I sincerely doubt you would understand them, Try reading the books we recommended, then come back and tell us why it's bullshit. if you have technical information to share that says were wrong, then show it. Don't include everybody in 'we' - you might not like what you read but others are free to make up their own minds.
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Looks like a scam.
Everyone is entitled to their opinion, but I'd point out to you that to get VAT registration in the UK the company, directors and their bank account have to go through some very tight security and identity checks. sorry op but this is bulshit. anyone who are making more than few quid a year can jump on vat and registration is not difficult at all. As stated before in forum Ltd company these days means nothing. just limited liability for you. personal I can chase your person to recover lost money but who will care to put more money upfront to chase you in case something will go wrong? pre order are nonsense from definition . people are tired paying for non existence gear. basically you don't want to go to bank, put your house as security for large loan and make prototype this way. once prototype will exist comeback here show it's working and ask for btc. This field is full of scams and trust me you will get bold quickly when people will grill you over few inconsistency. Interesting post. I don't have a house worth anywhere near $400k let alone $4M, so asking a bank to take it as security isn't an option. If anyone did have the money to make their own asic without outside help, then I sincerely doubt they'd be posting on here looking for sales, they'd be mining away with them. Most of todays miners made their money through pre-orders, so I'd have to disagree with much of what you say. At the end of the day no one forces anyone to pre order anything, it's up to the individual to make the choice. maybe as individual you haven't got 4m to put upfront. but as a team easy you can secure loan. look for bigger investors instead asking small people to hand over you btc for wages, and who knows what else. one more thing: when newbie start answering by "we not here to scam anyone..." this smells even more fishy. again I found you mention something g which is wrong. not most if the company's made a sics from pre orders it was like that when BFL and other scams was there. This days we have bitmain...never asked for btc to build units, spoondolis...again not even penny to show working units. only wannabe asking for pre orders this days and one more thing. In btc world once you will have working unit will become obsolete very soon .you will not be different than others. You will mine with gear like crazy and when it will become useless you will flush this on buyers. as I said you not he first one and not he last one who will have difficulty to convince typical miner like me. good luck though Thanks for your good wishes. Hopefully we'll be given the opportunity to prove that we can deliver what we say. The only other thing I'd say is that we have designed our systems with obsolecense in mind, that's why they're modular.
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![](https://ip.bitcointalk.org/?u=https%3A%2F%2Fi.imgur.com%2FpFMJIWe.png&t=665&c=sMxOEGDtp6NTlg) ... First things first though – here’s what you really need to know about the project: The Headlines
- ... - This is a pre-order project, there are staged payment options ... Pre-Order. I'm out. Ok, but thanks for your interest anyway. If we do get funded and get our systems built don't be shy in coming to us for your future mining requirements.
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Is this the next big scam company after Black Arrow?
Who's Black Arrow? You are a "british" company (LTD) and don't know your "british" competitors like Black Arrow LTD? I was only kidding - but LTD companies come from many jurisdictions apart from the UK. Old colonial habits die hard.
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Looks like a scam.
Everyone is entitled to their opinion, but I'd point out to you that to get VAT registration in the UK the company, directors and their bank account have to go through some very tight security and identity checks. sorry op but this is bulshit. anyone who are making more than few quid a year can jump on vat and registration is not difficult at all. As stated before in forum Ltd company these days means nothing. just limited liability for you. personal I can chase your person to recover lost money but who will care to put more money upfront to chase you in case something will go wrong? pre order are nonsense from definition . people are tired paying for non existence gear. basically you don't want to go to bank, put your house as security for large loan and make prototype this way. once prototype will exist comeback here show it's working and ask for btc. This field is full of scams and trust me you will get bold quickly when people will grill you over few inconsistency. Interesting post. I don't have a house worth anywhere near $400k let alone $4M, so asking a bank to take it as security isn't an option. If anyone did have the money to make their own asic without outside help, then I sincerely doubt they'd be posting on here looking for sales, they'd be mining away with them. Most of todays miners made their money through pre-orders, so I'd have to disagree with much of what you say. At the end of the day no one forces anyone to pre order anything, it's up to the individual to make the choice.
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Is this the next big scam company after Black Arrow?
Who's Black Arrow? Only kidding. No, we're not out to scam anyone. Hope you enjoyed reading our proposal though.
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Nice document.
Thanks. Hope you enjoyed reading it, it was a lot longer than originally planned but as they say, the devil is in the detail.
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Thanks for your comments, and no offense taken. The reason we aren't going down alternative routes is that VC companies aren't too keen on financing asic mining project for the public to make money from them - they want to keep them in house to mine themselves, and that's not our ethos. The amount of money we need to even get to chip prototypes is simply way more than all our combined resources and then some, so this seems like a logic route.
We will never comment on how other companies conducted their business. None of us were BFL customers so have no knowledge of the quality of their service or products, but there is no argument that their products did (eventually) make a lot of people an awful lot of money. That's no excuse for poor service, but it is fact and we like dealing in facts.
I disagree with your opinion that a VAT number means nothing, but you're entitled to it like everyone else. How you enjoyed reading out pitch.
0.3W/GH at system level from a 40nm chip is indeed very nice. What is the power consumption at chip level? It comes in at about 0.17-0.18 Joules/GH running at spec'd voltage of 0.85V. You can get it down lower, but the internal delays go way up and so the clock speed has to come down. It also gets more difficult to predict timing.
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Looks like a scam.
Everyone is entitled to their opinion, but I'd point out to you that to get VAT registration in the UK the company, directors and their bank account have to go through some very tight security and identity checks. Have you actually read all the text and FAQ's? Even if you still think we're not on the level then at least you might enjoy reading the technical content and our comments on how we think mining will develop. If you think we're wrong, then please feel free to share your opinions. Yes I read the text. It all looks like bold claims with no evidence. Here's a few simple questions for you: Who does your company consist of? You are asking for millions of dollars in funding yet you don't even give us any names? It's nice you have some fancy registration but so did danny brewster. What experience does your company/employees have? Proof would be nice. Why does your website look like it was designed by someone who just learned how to use html/mspaint? BLUNTLY: If it’s in stock, it’s obsolete or will be shortly! Anyone who has been in the bitcoin mining world for more than a few days knows this is simply not true. If you'd read the text then you would have clearly seen two names mentioned. You can also see the Indiegogo page and who's leading the project, so I suspect you may ave simply skimmed over it. . Now, if you really think that we're going to present detailed CV's to a poster on a forum that hides behind a username, then that's simply not going to happen, If you want an engineering or financial discussion, then we'll gladly have one.
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Having a VAT registration means nothing. BFL is operating for over 2 years and they scammed A LOT OF PEOPLE and they are still in business. Taking the legal way against a company in the Bitcoin field needs a lot of time and the authorities which aren't familiar with how bitcoin works aren't helping the customers. HashFast failed too and nobody is in jail, AMT failed and nobody is in jail. So your VAT means 0.
Which they most definitely deserve. Those HashFail and AMT pricks need a nice stint in the big house for the shit they pulled. Anyways, best of luck Novello. $4m is a lot of friggin' money. Thanks for your good wishes. It is a lot of money, but unfortunately that's what's needed to get the chips and systems built!
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