Index your litecoin expectations to bitcoin.
Bitcoin is the first-mover with the big network effect. Litecoin (at least currently) offers no meaningful technical advantages, but it has 4x the supply. Thus, the upper-bound, even if litecoin succeeds in being "silver to bitcoin's gold" is that it'll be worth 0.25BTC. But that's if they both achieve the same popularity/market-cap. I think you have to drop litecoin's upper bound by *at least* an order of magnitude to account for the fact that bitcoin's network effect is overwhelming when talking about a contender that offers no real technical advantages.
So that takes us to 0.025BTC per LTC as a reasonable upper bound.
And as untested as bitcoin is, both technically and economically, litecoin is even more so, so throw that additional risk into the mix too...
The thing about LTC is that it's spurring a new generation of GPU miners that are buying and hoarding it, much the same as with BTC two years ago. LTC supply halving is also happening in less than two years. These two things alone will be likely be enough to ensure the longevity of LTC. I think we will see prices well into the double digit USD in the next 2-3 years, with volatility similar to bitcoin for 2011-2012. The way to get rich in crypto is to just buy one that is heavily adopted (BTC/LTC), stick your coins in a cold wallet, and come back in a few years during which you completely ignore the market. |
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did they ever get back to you about your rma? and if so how long did it take?
No response yet. Patiently waiting. Can only assumed they are slammed with their own mine and/or waiting for stock... but... yeah. Patiently waiting for a response. They sent me an extra H board... I've pm'd Dave about how much he wants me to give him to let me keep the one I have that requires lower volts, lol. For the sake of curiosity, how long did it take before you got a response ? Week and a half |
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Yes... I do agree with you. We run mentaso.com and I am in discussions with one of the Hashfast crew about getting some info your way. I have asked a few times and been presented with some stale info, but recently things have changed a bit and they are actually being more vocal with us. There are only so many email reminders I can send before I think a forum post is needed to push along the flow of info.
From what I have been told, they do have a unit running, but I dont believe its with their Hashfast Asic chip. Of course I cannot confirm this as I have yet to see the actual rig. https://bitcointalk.org/index.php?topic=340079.0 |
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did they ever get back to you about your rma? and if so how long did it take?
No response yet. Patiently waiting. Can only assumed they are slammed with their own mine and/or waiting for stock... but... yeah. Patiently waiting for a response. They sent me an extra H board... I've pm'd Dave about how much he wants me to give him to let me keep the one I have that requires lower volts, lol. |
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I think it is WAY to early to make any assumptions about the companies ability to pay for hardware production for the MPP hardware.
I think it is best to just take on a wait and see approach for right now and not jump to any conclusions and start spreading any FUD and starting a angry mob mentality because every one is just speculating at this point.
Yeah. |
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Providing MPP modules to Batch 1 customers at no additional cost and after the sale has been the best thing HF has done so far. I don't understand how you can criticize them about that, much less take them to court. You can pound your chest all you want but this is just not going to happen.
The thing I object to is that MPP was designed to protect against excessive difficulty increases. Not delays.
HF has done nothing to compensate against delays so it is the customers that will pay the price for HF failures.
correct. Also see [https://bitcointalk.org/index.php?topic=262052.msg3527186#msg3527186]. The MPP was born in an attempt to attract customers at a time the network difficulty grew dramatically. It is a value-added deal which makes this offer very attractive. With the radio silence from Hashfast there is hardly any way to know what is really going on behind the curtain. All things are possible - from an honest attempt to fix engineering problems and avoiding PR interference to an attempted cover-up of fraudulent advertisement. Dependent on how Hashfast used customer money to finance production (which has not been stated anywhere and should be considered malpractice), Hashfast customers may be locked into the fate of the company. If it succeeds customers will either be compensated for any shortcomings or may otherwise have grounds for litigation charges. If it fails, customers will have a claim on any left-overs after the company will have to file for bankruptcy. If customer funds were used, it's a misuse of financing, because it lets customers take all the risk while the potential gains (overall profitability of the company) is kept in private hands. Equity financing would have been more appropriate in that case. Again - without anymore information coming from Hashfast it's hard to paint a precise picture of what is going on. For one it would be interesting to learn how Hashfast stored the customer funds to keep them available for a refund. My deepest fear is that their business model was dependent on them shipping on time and that they were really hoping to not have to pay out any of the MPP, and now that it's obvious they will, there's no possible way for the company to honour the MPP without taking on substantial losses and/or bankrupty. The hardware for the MPP is still going to cost the company more or less the same now as it does in a couple months, and if they made a gamble on not having to pay for it, everyone will suffer in the end. I don't want to spread FUD though, I guess we'll have to give HashFast the benefit of the doubt until we hear otherwise. Like everyone else, I'm crossing my fingers and hoping from an e-mail from them saying they haven't slept for the past two weeks because they've been trying to prevent their company from being insolvent and working hard on getting the consumers their hardware out as fast as they can, while what they're doing is still relevant. |
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Write with imageusb V3 image file12HWFAsv1ojTuw5FzoP9T3SnyjZew5hFDL this bin file didn't work for me. don't re upload as i just copied the image from another working card of mine. Dave still needs to get v3 up for everyone else though that might need it. It ended up working for me when I downloaded the imaging tool he specified. However, V3 ended up running somewhat slower than the V2 image on my pi for some reason. The rig went from 480 gH/s after 12 hours to 455 gH/s after 12 hours. Although, I did tune two cards down 2.5 gH/s so their regulators would run below 110F) Regardless, I put a tip in the tip jar taco, thanks. FYI to any future buyers, in addition to the multimeter mentioned earlier, an IR thermometer will save you a ton of headaches: It gives you some idea about what you cooling needs actually are. I aim mine with the laser at the top of the radial capacitor at a 45 degree angle so the observation cone hits the regulator and the coil. You will also need a 5/64ths Phillips screwdriver or slightly smaller for trimming the potentiometers. I would recommend this anyway even if you do not plan on overclocking for initial debugging and increasing efficiency later on in the rigs life. Thanks! |
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Hey TacoTime,
Weren't you working for them? Any new updates you can tell us about or are they also keeping you in the dark?
+1 Have they responded to any of your requests. Yes I was working with them, no they have not communicated with me for a while. No idea what the radio silence is about. |
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frankly this was the best sale price, 20 btc a piece was a steal... too bad i missed it... others were asking 25 and upwards...
Don't the bitfury stand alone cards only cost 1.5 BTC, hash at 50 ghs, and use the same amount of power? So to get 600 gh/s you only need to spend 18 BTC? |
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If you guys who spent all that money knew the price was going to go up, why didn't you buy more BTC with the BTC you spent? Hell, if you knew it was going up, why didn't you mortgage the house and sell your pets and family members into slavery? You could have purchased them back at twice the price and still come out ahead.
Well, of course, it's not all my money or anything. It just represents a retrospective loss. You kind of have to hedge against the market with mining gear to ensure a continual profit with BTC, since you never know which way it's gonna go. End of the day Josh, it's still a loss in terms of BTC, but you can't predict what mining hardware companies will do these days and so you make a gamble, the same as you do on the blockchain. I'm still way into the black overall this year, so I'm not really concerned. I think myself and the others would just have liked a little more transparency to make informed business decisions upon. I'm kind of happy that at least we get silence from them though, as it's not a BFL forum party full of "two weeks!" announcements. I'm hoping they're working hard to get everything out the door. |
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They should have the chips on PCBs by now and should be able to tell us whether or not they function. Why do you think so? Once you have the chip on substrate there's nothing else to really do but test it... Pretty much as soon as the bitfury chips were taped out and in bitfury's hand they were stuck in a board and evaluated for function. These are supposed to be direct FPGA ports from what I understand, and so they should already have to means to test them and figure out if they need to be respun etc. |
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someone here spent over 200btcs on this? At current btc price - oh boy.
At current price I spent $34,375 USD on 800 GH/s... I really hope we all hear from them soon. I e-mailed them. They should have the chips on PCBs by now and should be able to tell us whether or not they function. |
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Write with imageusb V3 image file12HWFAsv1ojTuw5FzoP9T3SnyjZew5hFDL |
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come on Dave!
i need that v3 image!
anyone got a phone # for them?
Someone with v3 board please image it for him. My upload stream is so slow it would take days to upload it. am upload now |
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Things to consider: Bubbles, if BTC is in a bubble, so is LTC
Exchanges: Something interesting to note, is that BTCChina is owned by Coblee's brother, so Litecoin hitting the chinese market is a fairly reasonable assumption, especially as value goes up and it catches people's eyes.
I'm kind of wondering if the brothers are waiting to coordinate the launch between the Chinese exchange and Coinbase, buying a bunch of LTC before doing so. |
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As others have said, it looks like CoinJoin etc which already function through the blockchain work and are available to use now rather than later.
It just looks like the end user at this point doesn't have a lot of interest in it.
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They can be mined by ASICs, it's just that they are designed such that a protoshares ASIC would be very, very similar to a modern day Intel/AMD CPU.
However, if they ever became worth a lot it would be easy to create an ASIC for them that would be much *cheaper* then a CPU, since it doesn't use the FPU
ProtoShares are just a regular altcoin but they'll be converted into BitShares. IMO BitShares are a completely ridiculous concept.
I see. Why are BitShares so ridiculous? I've heard people beaming about it, but I'm really trying to figure it out for myself. See cunicula's thread |
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Looks like my predictions on supply were correct. The average network hashrate is now about 13 TH/s, up from 1 TH/s a couple of months ago. When it hits 16 TH/s, the block reward will have effectively halved.
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