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1  Economy / Service Announcements / Re: BitcoinWisdom.com - Live Bitcoin/LiteCoin Charts on: January 29, 2014, 05:22:59 AM
Your "draw lines" feature needs us to be able to draw free lines where ever we want on the chart, not just at the very top or bottom of a candle. Otherwise we can't project trends based on averages (i.e. using middle of candles). In fact, I don't even like the 'snap to candle' config you guys have. Let me draw a line anywhere please! Thanks & keep up the awesome work. Hands down, the best free charting tool Smiley
2  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 25, 2014, 05:55:05 PM
I was really hoping the Ethereum team was going to start answering some of the serious questions in this thread, but I'll give them a break for a few days since I know they are at the Miami conference. I just hope they are not discouraged by pages and pages of posts by people who don't seem to have spent any significant amount of time researching this project.

If you are seriously concerned then please frame your posts in the form respectful intelligent questions rather than accusatory bashing rants. You'll find you have more support when you post coherently and factually. Have you actually read the white paper (at least twice), read the previous 28 page thread by tacotime, or bothered to research the core team behind Ethereum and some of their recent work? (rhetorical question). Is 30,000 BTC + 50% premine of the initial batch of coins too much? Maybe. From a 'how much $$ do they really need to operate full time for ~3 years to develop this into a solid platform without having to worry about rent, consultants and lawyer fees' - It definitely strikes me on the high side but not crazy excessive. From a 'this thing *may* really be the best bitcoin 2.0 platform we'll see for a while'... 30,000 BTC is going to seem like a very cheap valuation in hindsight. BTW, 30,000 BTC is the max they could raise. They may raise a tiny fraction of that, we shall see.
3  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 25, 2014, 07:09:11 AM
It seems many people are confused by the bold titles being used in the opening post (see below)... I know I'm not 100% clear, so might as well ask.

Quote
* Early investors for taking a great risk due to the uncertainty of investment will be rewarded by a bonus of 2*initial investment for the first week and then this bonus decays by 2 percent per day for the remainder of the fundraiser until it reaches a floor of the base exchange rate of 0.001 BTC per 1 Ether
* After the fundraiser closes, the total sum of ether produced will be denoted as X and we will instantiate a premine of 0.50*X for the fiduciary members, early stakeholders, strategic partners, a pool for use between the conclusion of the fundraiser and the launch of mining and finally a long term endowment. Specific percentages will be discussed in the Prospectus to be released on the day of the fundraiser (Feb 1st)
* The fiduciary members will be vested over a 12 month period and cannot divest more than ⅓ of their position per year thereafter

... Since you used different terms; for example: "Early investors", "Early stakeholders" and "Fiduciary Members", are we to conclude that these are in fact completely different parties? Specifically, can you please clarify the differences between each and also which one of these are you characterizing as the ones that participate in the crowd funding that may (combined) contribute up to a total of 30,000 BTC? Typically a "fiduciary member" represents a legal entity, so I'm assuming this would exclude the individual crowdfunders, but I just want to triple check on all this.

TL;DR:  We need absolute clarity on whether the individuals participating in the crowd funding will have their Ether's tied up for 3 years (1/3 release per year) or whether they are able to trade their ether's for BTC or other cryptos immediately after the coin is launched.

Thanks!
4  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 24, 2014, 10:55:13 PM
*** For a monetary unit to be a globally accepted currency it must have PRICE STABILITY!  ***
I'm not so sure about that.  Have you seen CAD / USD lately?
http://www.xe.com/currencycharts/?from=CAD&to=USD&view=1Y
Considering we've got $61+ Billion in circulation here in Canada, I would consider our dollar to be anything but stable. -10% over a year is volatile imho.
Besides, no cryptos are mature yet.  Once a crypto is completely mined out (in terms of new blocks of coin), then my best guess is that it would be no more or less stable than the CAD or USD.

My layman's definition of 'price stability' infers that street prices of consumer goods and wages remain mostly the same. The value comparison you make here is only with the USD which impacts some % of all Canadian imported goods, but albeit a small overall % (we import most of our widgets from Asia). Sure ~70% of our exports are to the USA and thus the export companies and their employee's wages may be impacted, but again, they are a small % of our total economy.

The $5.00 Starbucks coffee you bought last year, likely still costs $5.00 today ? Likely, your wage is probably still the same or +~2% (CPI)?  Stable prices and wages = price stability.   When  year ago you paid 2000% more for anything priced in BTC than you do today... that's not price stability. Even when compared to 10% devaluation of the CAD vs USD, BTC's volatility is still 200 times in magnitude greater over the same period of time.

You are right in saying that crypto currencies are not mature and this is a catch 22 problem. Until they are widely accepted and massive liquidity exists in the system, they cannot be considered currencies because lack of liquidity = high volatility.... and you can't get them widely accepted quickly because... well, people don't like high volatility currencies ;-)

However, to purposely design a highly deflationary currency (i.e. bitcoin), puts the potential of it being accepted as a currency decades into the future - as you said, after all mining is done. More than likely if bitcoin were allowed to proceed unperturbed by governments, it will cause a global deflationary black hole for all fiat currencies. In other words, everyone will dump all paper money and trade it for bitcoins and the global economy as we know it will collapse. More than likely, governments will shut down bitcoin well before this, whether through legislative means (i.e. bitcoin is now illegal for all businesses to use (aka. China)), or by technical means : TCP port 8333 is firewalled at Tier 1 ISPs - and don't think they can't. At most BTC would only continue to function for black markets.

In regards to Ethereum, I think there's recognition that bitcoin's deflationary model is somehow flawed, although the devs don't offer a thesis for this... but suffice it to say they are taking a significantly different approach closer to our existing Keynesian system. My previous commentary was to suggest that they need more expert brains at work on the economic model to offer justification for what they came up with... else, somebody else will eventually do it better, and Ethereum will eventually be replaced.


And now back to the Ethereum discussion...
5  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 24, 2014, 09:42:23 PM
Commentary on  the Economic Model:

IMHO, the brainiac eclectic Ethereum team is missing an economist (or two - ideally from different economic schools of thought). The vast majority of countries have now regulated Bitcoin as a commodity because it fails the test of being a currency. The number one reason (aside from the fact they can't control it via their central banksters) is because bitcoin lacks "price stability". Let me put that in upper case, because it seems to escape the minds of every crypto coin developer I've seen to date...

*** For a monetary unit to be a globally accepted currency it must have PRICE STABILITY!  ***

This is not a government mandate, but rather a mandate of people all around the world for centuries. The minute a currency fluctuates wildly, people stop using it. Whether to hoard it (deflationary currencies) or to get rid of it ASAP (inflationary ones).
In order to attain price stability, you must have very low inflation or very low deflation, with 0% being ideal (Keynesians would argue that 2% inflation is ideal). From that perspective, Ethereum's philosophical design appears to be on target... except the details matter.

The inflationary design of Ethereum imagines that it will be more fair if it targets 0% inflation.  Unfortunately, you can't target 0% inflation, when your protocol is completely disconnected from a wide range of real world dynamics such as production capacities and efficiencies, resource availability and overall costs of living to name a few. It is academically erroneous to claim to target 0% inflation, when what you mean is targeting 0% dilution after a certain time period - that is unfortunately not the same as 0% inflation. Because your coin will lack Price Stability, it will immediately not be considered a potential global currency. Because your coin will not be a currency, but rather another commodity like bitcoin (albeit with different characteristics), it will always be traded and valued against a real accepted global currency such as the USD, and thus, even if you design an eventual 0% dilution target into it, simple supply/demand will actually determine it's real world value in a foreign currency, and thus you will have inflation or deflation regardless of how much effort you placed into Ethereum's inflationary design code.  I should also add that talking about Ethereum in your whitepaper and saying that it is inflationary like bitcoin is highly confusing, since bitcoin is predominately deflationary. Some word clean up is required there to get your meaning across.

To be clear, I'm not pro USD, and despise various aspects of it, but one thing is certain - on a day to day basis, consumers have price stability - despite the fact that over much larger periods of time (i.e. 100 years) it looses significant (98%) purchasing power... but that's by design (2%/yr inflation), not accident; and the result is *practical* price stability that can be used to conduct Commerce and operate businesses (i.e. pay employees static salaries each month, pay suppliers the same price for goods with the possibility of only 1 or 2 yearly adjustments)etc.

Lastly, the irony is not lost on me… you put brain power towards achieving 0% ‘inflation’, but then turn around and call it a platform and not a currency. So which one is it supposed to be? ;-)
6  Alternate cryptocurrencies / Announcements (Altcoins) / Re: [ANN] Ethereum: Welcome to the Beginning on: January 24, 2014, 09:30:35 PM
Hi Ethereum Team,

I have a few questions:

Q1: VALUE OF A ETH: What gives ETH value? Especially if you say it is not a coin, but rather a platform? Would I be correct in making the following analogy: ETH is like an OS (platform) connected to a token ring network with an ever increasing number of workstations (end users), where the ETHer's are basically like tokens on the network that exist to service the system. To use the system to for instance operate a contract, you need to have a token. You can thus only use the system by using tokens, which means you have to acquire them, and thus that's where their value will come from.

Q2: DAO's?!? I haven't been able to wrap my head around DAO (Decentralized Autonomous Organization). To me an organization implies having people to do work and provide services. Even systems that are mostly automated like craigslist, facebook, reddit, wikipedia, still require people to do work that computers can't. The Ethereum video even talks about political parties as becoming DAO's. These are organizations that are in fact people (and not computer) centric. So how can an Ethereum software contract replace an entire political party? Unless the contract has some advanced AI, I don't understand how it can read bills and vote on issues at a level equal to human understanding and morality (yes, I know politicians and morality). Clearly, I'm not understanding what is meant by DAO. Is there somewhere where I can read more about this? Are there any functional and useful real-world examples of DOAs right now that I can read about? If not, what are some hypothetical ones and how might they function, and what service(s) would they provide that remove the human factor? This concept requires a lot more explanation. Far too abstract for my tiny IQ. Thanks.

Q3: Blockchain Scalability : My understanding is that when some of the Bitcoin core devs learned that MasterCoin intended to store all of the world's possible transactions onto the bitcoin blockchain, they nearly had a brain hemmorage - because the blockchain was not designed to handle that much data. Ethereum claims the ability to do even far more than bitcoin resulting in a blockchain that will be N times (100,000... 10 million?) times bigger. Who/what will secure/audit those... the miners? I'd like to learn more about how Ethereum envisions the growth of its blockchain(s), and how in the world it will be scalable.

Q4: Wookiedoes ?! True or False? In another thread somebody said the ETHer's will be named wookiedooes (sp?), I hope that was just a joke and it's not real. Nobody mainstream is going to take seriously a coin/platform named wookiedoo. It's bad enough they laughed at bitcoin for years, and it had a great name... imagine the laughter on CNN when they mention wookiedoos. They can't have a serious conversation on bitcoin, nevermind 'wookidooes'. "Economists" will be cracking jokes on air instead of having any serious discussions. Please hire a legit marketing person if wookiedoes are for real.

Q5:  Real-Time Investment Disclosure: Are you going to provide a public disclosure in real time (or at least updated daily) through the fundraising process of how many people (we don't need their names) invested how much BTC? Is there going to be an 'exodus' BTC address we can simply track on blockchain.info for example?

Q6: Max cap per investor? Have you considered placing a cap on the maximum investment any 1 individual can make? What's to prevent somebody from investing $1 (or 10) Million worth in BTC and owning an excessive % of the system? This would be looked at like a very heavy pre-mine by many.


Thanks,
7  Economy / Service Announcements / Re: BitcoinWisdom.com - Live Bitcoin/LiteCoin Charts on: December 04, 2013, 09:08:08 AM
Hi,
First of all, congrats on what I think is the best charting platform I've seen to date. I just thought I'd mention that I was one of those users that kept seeing the "Loading..." screen all the time and couldn't get past that. After much troubleshooting and using my protocol analyzer, it turns out that it's because my firewall blocks port 8080 outbound by default. I imagine this is also the case with many users on computers in corporations. I've known many companies that only allow port 80 and 443 out and block everything else - quite literally. 8080 is typically associated with proxies and is blocked so as to prevent people from getting around other firewall rule restrictions.

I'd like to suggest you put some very basic instructions on your "Help" page on your website with the basic firewall rules required. Also, on the loading page I was seeing, it said that perhaps it wasn't loading because I had more than 8 connections established (which wasn't the case). So perhaps that's another place where you can post the 2 liner firewall rules required.

I believe the requirement is something like:

Outbound (to internet) Firewall rules required:
1) bitcoinwisdom.com                              TCP/HTTP port 80
2) 184-22-51-146.static.hostnoc.net         TCP 8080
(184.22.51.146 also resolves to s2.bitcoinwisdom.com)

Cheers and keep up the awesome job!

PS. An even better idea is to stop using port 8080 all together, is it really necessary? Can you not just stick to 80 on your second server, or perhaps use 443 with SSL encryption if your servers can bare the load?
8  Alternate cryptocurrencies / Altcoin Discussion / Re: [POLL] The State of Altcoins (and A Proposed Development Funding Model) on: November 15, 2013, 10:26:47 PM
There is a time and a place for this type of stuff, but i think it makes more sense to devote resources to radical innovation. Cryptocurrency is too young for it too be worthwhile making many small optimizations in an altcoin.

Hi Cunicula,
First, I just wanted to say that I enjoy your posts. Personally, I'm willing to fund netcoin regardless because even if I don't believe it is perfect enough (see my wishlist below), these small optimizations/fixes/improvements are such that they could eventually be imported into an even better future utopian crypto coin and thus save everyone the development time in the future. As such, netcoin will get some of my donation $$.

On a slight tangent, I was wondering if you could possibly share with us your thoughts on which worthwhile "radical innovation(s)" that benefit end-users could be?

Here's my utopia list:

Price Stability - This is almost like asking to see God, but maybe there's a few clever economists out there that could help out with a short-long term strategy. Bitcoin severely lacks price stability, this makes it a very poor choice for the masses to use as a currency for daily transactions - Aside from it being too confusing for sub 100 IQ humans to understand and keep up with, imagine employers trying to figure out how much less you should be paid every 2 weeks than the previous 2 weeks, or how much less to pay their 3rd party suppliers. Further, as already witnessed with bitcoin, aggressive deflation is likely to cause extreme speculation which results in massive mis-allocation of capital (aka. bubbles) and excessive savings impacts spending, which impacts employment stability, which impacts technological innovation across all sectors. Possibly, the most important negative is that it would allow for a massive disparity in rich vs poor mid-long term, which is the trigger for many civil revolutions, or in this case migration to another coin. Thus, I do not think this would allow for a stable economy mid-long term. Deflation is a clever trick to attract a lot of users initially, and I am ok with that short-term, but not mid-long term. I'm thinking we need something along the lines of: first 2 years: medium aggressive deflation (1/3 of bitcoin aggressiveness? 50-100%), years 3-7: low deflation (target 5-15%), year 7-20 (1-2% deflation a la Fed, but with deflation not inflation). Starting year 7, deflation would be measured not against the USD but against an SDR-like basket of currencies: 20% EUR, 20% USD, 20% Gold 20% Silver, 20% G20 stock indexes (or some such variation). Some time after year 20 this new coin should have achieved global reserve currency status or at least very wide spread adoption (primary currency usage by many countries, at which point, the SDR-like measure could be dropped and a mathematical formula could be devised to attain near price stability  (0.5 deflation to + 0.5% inflation). In short, I'd like to see math replace biased central bank interest rate policy guidance to attain real (not CPI re-defined) price stability. From the average person's perspective, not only is price stability psychologically required, but it would hugely contribute to 'ease of use'. Systems that are simple to use are more widely adopted, faster.

Limited Government Taxation - I believe some capitalism is required for innovation to foster, but capitalism lacks a moral high ground like socialism or some other egalitarian political philosophies. Specifically, pure capitalism = full privatization of all sectors = rich get richer, poor get poorer. My point being, I don't believe everything should be privatized and I do believe there is a role for "government" to play, specifically in funding basic social services: Hospitals, Police, Fire Fighters, City infrastructure, Courts of law, Disaster Relief, Welfare, Waste Management, Defence and Policy makers (likely I missed a few here). Bitcoin can and will be used for tax avoidance by the citizenry. Governments today can enact laws to tax businesses using bitcoin, but taxing of clever individual citizens will be near impossible due to anonymous laundering systems. I see bitcoin laundering to eventually be automated with an app for every transaction, thus nearly all citizens would use it. As such, IMHO bitcoin will ultimately be crushed by government(s) before it gets too big. An utopian coin should use math to set aside a per transaction fee or some kind of yearly allotment that can only be collected by government officials of each nation. Further, dynamic math formulas built into the coin should be used to allocate budgetary capital for nearly all government departments as opposed to corporation lobbied/corrupt politicians allocating the capital. The justification to the solution that should be implemented for this is the stuff of not mere Phd thesis but likely voluminous books written by genius economic philosophers that ultimately will have to be translated to code. I'm thus officially naming the coin of my wishlist "utopia coin".

Balanced Mining - Assuming we can't come up with a more clever replacement for the concept of mining coins into existence, at present I see two possible extremes of which netcoin is one of them. Bitcoin allows for easy ASIC mining, thus in another year or two we'll end up with a dozen or less organizations that control 90% of all the mining, thus allowing for centralization of money creation. Netcoin might be going too far in the opposite direction by wanting to implement too many protocols to severely restrain ASIC mining. The problem created by severely restraining ASIC mining is that it will allow for a problem that is just as severe, the centralization of coin creation by use of botnets, which is worse since it is less energy efficient and illegally/immorally uses other people's computer resources without permission. So how do we achieve a balance here? I think the answer is something along the lines of use algos 1,2 & 3 for say 2 years, and then at the start of year 2, algo #1 gets replaced by new algo #4, such that now you have algo 4,2,3. Then in another 2 years, you replace 2 with 5. Whilst arguably environmentally wasteful from a PCB lifecycle perspective, this would severely restrain any one ASIC company from having long term coin creation control, as every 2 years the race begins anew. From a botnet perspective, botnet mining would be restricted to the time period from when the algo is reset to the time period that FPGA code could be implemented which would likely be a short window period of 2-6 months, which shortly after would be replaced by ASIC mining again until the next algo reset. Or probably even better would be an algo phase-in approach, such that hackers/botnets don't sit around waiting and slam the coin on X day of the reset.

Full Anonymity by default - Not just interacting/dependant on coinjoin, or use of Zerocoin with adverse/trade-off effects. I know, I'm a seemingly conflicted individual: I want some capitalism, some socialism and unquestionably some liberalism and *gasp* some anarchism. By solving the government taxation issue above, anonymity should be *less* of an issue for current elected government officials. Whilst terrorists, drug lords and pedophiles will be theoretically aided by this, one might argue that there should be less terrorists if every country on Earth were playing on an even economic playing field with a global crypto coins vs heavily manipulated fiat currencies. The major crux to implementing anonymity within the coin from day 1 is that it may actually prevent legal wide-spread adoption by brick and mortar merchants as governments would decree it illegal because "oh think of the children!". Without brick and mortar adoption, the coin could never reach wide-spread adoption. I'm thus conflicted at present as to how this dilemma can be resolved.

Network Security - I've said it before (NSA/Snowden issues), and I'll say it again: Whatever new utopian coin is created, it should have either embedded network security or a quick migration path to it after deployment. By this I mean, no reliance on a single TCP port 8333 that can be easily blocked by governments at Tier 1 ISPs. Further transaction security/encryption is required.

Global spot price - With the implementation of miraculous 'price stability', eventually and in theory we should be able to get closer to achieving a global spot price for utopia coin meaning that 1 utopia coin at an exchange in Russia has the same fiat currency / SDR-like value at any other exchange. Or do we still need some radical innovation to achieve global spot pricing. Can there be a peer to peer exchange protocol created such that it tracks the 'value' of all transactions and arrives at a dynamic average spot price that is periodically (1 min?) reported to all client/exchanges? Or should we just forget this idea and leave local supply/demand to determine utopian coin value?

Decimal points & Ease of use - How many decimal points most human brains can easily deal with is arguable. I believe we have all been taught/conditioned to handle 2 or max 3 with current currencies and the metric system. This is not to say in 2 or 3 generations from now, 8 decimal points for currency won't be easy to handle. Still, I believe simple is better. Utopia coin should include some kind of embedded code such that when the fiat or SDR-like value of the utopia point reaches a certain height, a currency conversion holiday occurs; meaning your 10.423 utopia coins are now 104.23 utopia coins. If this is done for all users or specifically across the entire public ledger, then nobody loses out and simplicity remains eternally. Tada! No more need to worry about dealing with 0.49258852 fractions of a coin. Arguably all external systems to the coin that track the coins value require Y2K like updates, unless they were coded to deal with this from day one - and they should be if this feature was included from day one.

Pool Voting Centralization Avoidance - I am not familiar enough with the under the hood workings of how BIPS feature voting in Bitcoin works, but I have read that pools essentially centralize voting power to the pool operators. If this is true, clearly this needs to be resolved.
9  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 23, 2013, 10:11:47 PM
Hi guys,

The last couple of days have been exhausting. I will post details as soon as I have time in the next couple of days, but long story short we have some bad news in the sense that we are not going to be able to ship any of our customer's units. The good news is that you will get a full refund from us.  This morning we got a call from DHL regarding the first 4 units we shipped a few days ago which got stopped by export customs due to lack of an "FSB" (Federal Security Bureau... aka. the new KGB) notification ID# (I will explain what this means when I get a chance).  Today we picked up the units from DHL, and headed straight to Metabank along with all the other units that we spent days testing and packaging carefully. Metabank has already issued us a full refund late this evening, and we'll do likewise with all our customer in order of who paid first as soon as we're able, but likely after I head back to Canada which will be this week . Refunds will be performed in bitcoins and for the amount you paid us. We still need to sort out some internal details but generally speaking, that's the plan.

Our sincere apologies this did not work out as intended.
I will write more details soon, but I just wanted everyone to be notified immediately of the situation.
Kind Regards,
Luis
10  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 21, 2013, 06:30:52 PM
Hi guys,
Status update:
- Went to Metabank tonight with 4x sub-par triple units. Swapped out for 4 others which they say they've tested at ~300GH/s. I have started testing 2 of them, and will test the other 2 tomorrow. As soon as we see these are good to go, we will proceed to start shipping them.

Either way, if all goes according to plan, expect more shipments late tomorrow (Sun) Moscow time.

Cheers! Smiley
-Luis
11  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 21, 2013, 12:57:02 PM
The above mentioned units have been shipped. Tracking numbers will be emailed out for the first 2 orders in a few hours.
Thanks,
Luis
12  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 21, 2013, 09:38:25 AM
Hi guys,

Status update:

1. We missed Friday's DHL time of day deadline for out of country shipping, so we just held off until today (Sat) so as to save time and manage logistics.
2. We have the first 2/23 orders fully packed and ready to ship today. This consists of 4/32 units. We've scheduled a DHL pickup.
3. We finished testing all customer units. The outcome was that as previously stated, we have 4x triple boxes that are significantly under performing, and we are going to get Metabank to swap them out; however, this may take another day or two.
4. Some of the units will have to ship slightly out of order. This is for two main reasons. First, metabank aggregated individual 120GH units into doubles and triples. So customers that ordered say 3 units, but across 3 separate days, may now receive a single triple unit on 1 day. We are delivering these units based on their first order date. Secondly, for a few customers, Metabank provided the above mentioned triple units that are not quite performing to spec (getting as low as 150 GH to a max of 260GH, when according to metabank they should be hovering around 290-330 GH).  I hope this is not a big deal in the sense that I still plan to ship all units by early next week. So we're talking about 2-3 days delay at most, not weeks.
5. We are starting to optimize our packing & customs process, so I hope to ship a few more units tomorrow, then probably by Monday a large amount if all goes according to plan.

Kind regards,
Luis
13  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 20, 2013, 08:39:07 AM
Some other info I got on Wednesday from Metabank, that I havent had a chance to pass on yet.

1. The Metabank web interface hashrate display for cgminer is not reliable for accuracy. It's better you rely on your pool's hashrate, or run cgminer from the raspberry pi's shell via ssh.
2. One nice thing about the web interface is that you can easily change pools with it.
3. Next version of the web interface will display performance per hash card. No ETA at this time. Metabank is a tad busy getting all units out the door.
4. There is a temperature sensor on each card. There are 2 LED's on each hash card. One green and one red. Either can blink or go into solid state. Right now, if the red LED goes on (except during boot procedure), it may mean that card's temperature is too high. One of the metabank guys actually touched the sensor while the unit was on (not that I'd recommend doing that), and the heat discharged to his finger, and then the red light went away. Obviously this doesnt change the temperature or solve any overheating problems.
5. FANs:. The Single and Double units have 3x 3000 RPM fans. The Triple has 3x 4000 RPM fans.
6. Power Usage: The Singles will use aprox 160Watts, doubles ~350W and triples ~500W.  This is all at default hashing speeds out of the box, and at 230volts. Expect a bit less efficiency at 120V for North American customers (i.e. more watts will be used).  So this should help you buy a power supply. I'd like for some of the more electrical experts chime in, but what I heard is that if a device needs, say, 80 watts of power, the absolute minimum power supply size should be 100W. So the basic rule is never exceed 80% of the rating of the power supply. That said, different vendors will have different efficiency ratings, and to be safe, you may want to have it at even much less than 80%, although some may allow for higher safely. Also expect about a 5% variance of power usage upwards during bootup procedure as compared to normal operation.

There's an entire science to optimizing energy efficiency, and so I'm not going to pretend to know what I'm talking about here, so please speak up if you understand these sorts of details and can help your fellow miner Smiley

7. When you connect your units to your LAN's, the raspberry pi will acquire an IP via DHCP. You can find out your unit's IP by either by doing a subnet ICMP sweep (google angry ip scanner), or by connecting to your LAN router and checking the ARP table. Some routers may actually identify the unit as raspberry pi as my asus here does.

8. After you get the IP, simply http to it, or ssh to it.  In either case, ID=pi PW=raspberry

9. You can view cgminer logs via web interface or by command line: tail -f /var/log/cgminer.log

10. You can stop or start cgminer as follows: (via SSH only)
sudo service cgminer stop
sudo service cgminer start

I've noticed a few times during testing that when we first power on the units, lights on all cards remain solid green indefinitely. We've learned this is because cgminer didn't start properly for some reason. You can either reboot the unit (takes about 1 minute or less), or ssh in and restart cgminer.
14  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 20, 2013, 08:15:09 AM
Hi guys,
When I spoke with legkodymov on Wednesday face to face, he explained that he is working with Lukr-Jr to have a BFGminer version for metabank units in the near future as there's several bugs with the existing cgminer as per above. Luke-Jr has some early beta's, but I'll let him speak about his own software. In short, it sounded like it would be more reliable. Also Metabank said there will not be a second batch of units; however, they will be making more units for themselves and thus will be improving their products and software and my understanding is they will release most of that info.

Status update:
1. By the end of today, all customer units will have been tested.
2. We had one of the first singles that appeared to have random booting issues, but it may have just been a particular plug on one of our powerbars. We will re-test this unit more thoroughly. We also found 2 triple units that had sub-par hashing rates, around 200Gh-250Gh. We will analyze these in more detail after all remaining units get tested. Our gut feeling is a few poorly performing hashcards in each of the triple units. If we can identify these, then maybe we'll just swap some around to at least get 1 unit upwards of 300GH, and then take the other back to Metabank as soon as we get a chance.
3. We have packed 1 unit for shipping so far, and plan to still ship 2 units later today.
4. After today our shipping volume should ramp up significantly each day, as that will be our primary focus. Until now, our #1 priority was unit testing.

And now for packing pics... This was our first attempt...

I am almost confident we could drop this thing down a small flight of stairs and the unit would still hash afterwards, but don't worry, we don't plan to do this level of unit testing ;-)








15  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 19, 2013, 07:33:44 PM
@Bogart, I sent you a pm. Please reply when you get a chance. Thanks.
Luis
16  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 19, 2013, 07:15:39 PM
I would prefer to see the modules individually ESD-bagged and bubble-wrapped and shipped each surrounded by some kind of cushion (peanuts, foam, paper, etc.)

We will be removing each card from its slot, putting it inside an antistatic bag, bubble wrapping it, laying it horizontally inside the box and taped down if required (likely for singles and doubles). Then the box itself will be bubble wrapped, and surrounded by instapak foam, inside a triple carrugated cardboard box, with an extra lid on the top and the bottom. Then more duct tape. One can never have too much duct tape Smiley
Luis

PS. Time permitting, I will try to make an unwrapping instruction video, so you will know how to get mining within 15 mins or so. Failing that, I will provide text instructions and answer questions here.
17  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 19, 2013, 07:09:23 PM
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I have a piece of the swede75 machine please handle it with care
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Kid gloves, furry kid gloves Smiley

I hope Sealed air instapak "gloves" will do ;-)
http://www.youtube.com/watch?v=4K8Q1uLKI7U
18  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 19, 2013, 05:09:22 PM
I have a Bitcentury order (Batch 1 order 6) can you give any info on when it will ship? Will you email out tracking nr? (US shipping. Need NO power supply)

I am hoping to ship all units ASAP, meaning a few short days here. Yes, we will definitely email out tracking numbers! Thanks for the info on your order re: power supply, much appreciated.

Luis
19  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 19, 2013, 05:08:01 PM
Great news for all, cool to see Timur pull through and to get all the ordered units at once!

Timur not only pulled through, he went way above and beyond my expectations when he actually personally delivered all the units to us (past midnight, no less)! These guys are all working around the clock... for weeks.  I also got to visit Metabank's workshop where they assemble all the units. Let me tell you, they have a good sized team working on these units, and have lots in stock to continue to deliver for a while.

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I'm batch 3 so I'm probably a few days away from seeing any testing. Won't stop me from checking at every available wifi hotspot through Japan Cheesy

I told that to my co-worker here helping with testing, I think he feels pretty special now ;-)
20  Bitcoin / Hardware / Re: [BitCentury] Metabank 120Gh 65nm Pre-Order Proxy [CLOSED] on: September 19, 2013, 05:05:15 PM
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Really nice work Luis and team! I think it was already mentioned but I can't find it right now (maybe somebody here knows): What pricing will be on the boxes? USD/BTC and metabank-price/bitcentury-price?

Hi acayne,
I can't comment on this publicly, but we will follow DHL's advice we got earlier this week in order to ensure that customs clearance is as successful as possible. Sorry I have to be so ambiguous.
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