Summary



Total hardware and wallet assets = ~$9000(of hardware[BTC900 valued in ASICMiner Blade pre-orders])+BTC0.00 | Total shares distributed ~63865 | 180(GH/s) total hash-rate and each share worth 2.818445158(MH/s) per share.

RSM blog - http://redstarmining.blogspot.co.uk/

Old Accounts Spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0Ap02rO_j4NLvdDB2cFRTS0ctVGRHRE5yQ2RfNUZFcUE#gid=0 - New Accounts Spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0AolvfZ07D-3SdHBuaGcxRUw3SEkwTzUyVXVqUzRPZFE&pli=1#gid=0

RSM's Pyraming - http://pyramining.com/faq#howdoesitwork - wallet donation address - 1RsRSss66dbgpNmgSaF68YvaT35ev54S8 - RSM Pyramining referral links - http://pyramining.com/referral/pdbkm3gzr - and - http://pyramining.com/referral/mrga6kts8 - all donations and referrals will benefit RSM financially.

Latest News

Three BFL 60(GH/s) SC pre-ordered last summer.  I expect delivery of our first in June.

This would be the easiest way to do it and get it setup within 2-3 weeks, assuming you can handle the logistics of it.

Back in February, before the first ASICMINER chips went into production which was just before the first two Avalon ASICs shipped, there were 22 Thash/s of capacity.   Today there is 85 Thash/s.   Even with the rising exhange rate, there is likely less GPUs mining bitcoins today than in February since there was probably more that defected to Litecoin (due to Litecoin mining being a little more profitable than Bitcoin mining even, over the past couple months) than came online since February.  And almost nobody is buying FPGAs anymore.  So it is probably safe to conclude that about 63 Thashs/s of ASIC mining capacity has come online. 

I don't know the distribution as far as how much is ASICMINER's that they are using for their own mining, versus the shipments of Avalon ASICs and BFLs.

If that capacity were all Avalon ASICs, that 63 Thash/s would represent about a thousand units (and they've not shipped anywhere near that).

Yep. For every post you make singing the praises of BFL, they raise you 1 spot in the order queue.

Have you a link to a post or article related to this?

Not for me, but the person inquiring for the quote seems to be extremely capable of spending a pretty penny.

Been talking to KNCMiner as well, they seem to have the best balance between cost and timelines for now.

I know some other company that promised to deliver in September too.... (2012). Delivery date will probably be more important than power efficiency in foreseeable future. But still might be worth of investing part of the capital to make a pre-order. Is there a reason to trust them, why do you think they actually will start shipping in September 2013?

OK, I am going to answer your questions and reply to your comments in as reasonable, rational and concise manner as possible and bear in mind that this post does indeed contain my considered opinions on the debacle that is BFL.

Concise however does not necessarily mean brief so get ready for a long reply!

Why should I not go to BFL?

They have a location, a business licence and a front door!

I find that often so-called "internet-based" companies actually count on customers not coming to their pysical location, especially in times of cirsis and confusion.  When someone does come, it generally shakes them up whether or not they admit to it, so sometimes showing up unexpectedly will yield diffferent information than the company would give out in an email or phone call.  This however was not the case with BFL.

Based on my personal experience in consumer protection, albeit many years back, had a so-called "real world" company engaged in the kind of business tactics currenttly exercised by BFL, it would have been taken to task long ago.

I suspect waht has heppened with BFL is that it has used its startup money as well as the proceeds from "pre-orders" in R&D and obtaining material for the initial production runs.  I also suspect and this suspicion is to a certain extent verified by BFL in its own updates that the stuff they bought and assembled simply didn't work and they are now left with large piles of high grade computer scrap.

The consequence of this is that all the equipment has been re-designed or is in the process of redesign, there is no completed working equipment and therefore nothing to ship and BFL really has no idea when or for that matter, if anything will ever be shipped but they will not tell you that!  The just keep stalling on shipping dates hoping against hope to be able to get it together before the walls come crashing in.  I also suspect that BFL is now relying on what if anyatahing is left from startup, pre-order funds and whatever comes in from new pre-orders to continue to conduct R&D and purchase the bits to assemble a finished product in time to avoid a meltdown.
I think BFL is more of less (Mostly more!) on the idea that pre-order customers are essentially held hostage against the ideas that requesting refunds or initiating chargebacks will bring the house down and customer's money will be lost and that  no one else out there can make working ASIC equipment available in a timely manner.

I have good reason to beleive that there are at least two companies which are very close to marketing fully functioning ASIC devices and much sooner than BFL's predictions of the availability of its own product.  I have been in close contact with those companies but will not name them because I do no want to appear to be shilling for them.  If and when such equipment becomes readily avialable from either of them, I will let you know as soon as I have reliable information.

In short, I am in discussion with my two partners concerning the plans for our orders but we most certainly will not be placing future orders with BFL.

I doubt anyone is willing to part with close to 5% of the available shares anytime soon. It's taken me quite some time to get a hold of my 700+ shares at what I consider very reasonable price. When/if the BFL miners ship the return on the shares at current price is huge and in my opinion they could skyrocket once we see mining happening.