I think you will find that they were referring to the KNCminer products as "The Competition", which Josh has actively commented on in several forum threads.
Sure. I would have guessed KNC as well. But that is quite old information, which is my point. My hope is potential customers of BFL understand that is incorrect information. The competition is much tighter than that now. But even some of those offers that are at a higher $/GH are as good or better, simply because they are delivering (or expecting to deliver) sooner... e.g. one KNC product is $12/GH but is expecting to be shipped in November. Will Monarch deliver in November? That would be a very big surprise. |
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I don't want to bash Butterfly Labs if I don't have to, and don't want to come off as petty. Forgive me if this is. But they probably should have noticed this $/GH comparison was wrong by now. (Found here: http://www.butterflylabs.com/monarch/) Their claim may have been correct (or not) for a few days, but it has certainly been incorrect for a long time now. I hope no miners out there were mislead into buying the Monarch based on this internal advertisement. The only way this can be correct now is if BFL claims that "the competition" is some specific entity other than those listed below. Of course, that would be disingenuous. BFL, if you are watching, please update your misleading product page. Anyone pre-ordering could rightly ask to cancel their order if it was based in part on false information on the Butterfly Lab's website when they ordered:  Contrary Old & New Examples: Cointerra:    HashFast:     [...] |
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OT: My bet is BFL offers 1.2TH for their current same price on Monarch orders. Watch and see.  Why not just make it 10? It's not like they'll ever manage to actually make that chip on spec or on time, and it's proven that they can promise the earth and deliver a shit on a plate and get away with it. They have everything to gain by making promises they can't deliver on, and apparently nothing to lose (at least in the short/medium term), so this is why you should take their specs with more than just a pinch of salt. My guess is based on how they reacted to Avalon's better deal last year. Now, Cointerra has a January pre-order selling for $3.5/GH. But to beat Cointerra, they'd have to offer a bit more than I suggested. At least the principle is in play for betting. |
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I'm not too shocked. I've said in other threads that I've thought things would get down to $1/GH. Who knows, maybe even lower? If you look at the hardware, it's probably significantly less complicated than a PC with graphic cards, Intel CPU, network card... etc... Granted, these are custom asics, but prices can go lower just like Intel CPU's can go lower. This might make it easier for more people to get involved in mining, which could cause bitcoins to go much higher as they are distributed into more hands but in inversely smaller quantities. i.e. a broad interest w/ a low integer'd supply. |
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OT: My bet is BFL offers 1.2TH for their current same price on Monarch orders. Watch and see. |
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One thing to note is that LRM still has 50,000 shares to sell.
LRM should be able to sell these shares and purchase new mining equipment later in the year/ early next year.
I for one will be reinvesting all my dividends in to more shares to grow the fund.
Personally, I won't think more investing until LRM proves capable of sustained growth into the summer of 2014. The winter looks like it could do well, but you never know. |
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It will be very interesting to see what the BTC mining world will look like in March 2014.
I'm pretty sure it will involve flying monkeys and a lot of sponge cake. |
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Good luck getting a buyer for BFL gear now.
From the amount of charge backs they are getting I'm guessing they will be bankrupt by December.
I'll take that as a +1 from you then... is that a fair assessment?  |
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Labrat, I'd like to suggest finding an entity willing to take your Butterfly Lab's Monarch order position in order to purchase more Bit Fury hardware. There is a feature on the BFL website to transfer orders to others now. I think you would agree, correct me if wrong, that $66,000 more of Bit Fury hardware sooner would be far better than Monarchs in February or March. Plus, I think Dave would redirect you another 400GH since that would be more than $50,000 more ordered. Seems a good business move. If you like this idea. Post a forum thread. And if you want, I think we can beat the bushes for you to find a taker to assume your earlier Monarch order position at cost. Since it's paid, if you used a discount voucher, you might be allowed to keep that as profit for LRM.  A nice idea, but I think you'd need to let the discount voucher apply to the order and not keep the difference as profit, otherwise you'll really struggle to find a buyer. I mean, who pays face value for BFL hardware? The person that would pay would be anyone that wants to place a new Monarch order. However, you are correct that that would make it not as easy to find a taker. Let's suggest this collectively to Labrat... Any +1's for this idea? |
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Labrat, I'd like to suggest finding an entity willing to take your Butterfly Lab's Monarch order position in order to purchase more Bit Fury hardware. There is a feature on the BFL website to transfer orders to others now. I think you would agree, correct me if wrong, that $66,000 more of Bit Fury hardware sooner would be far better than Monarchs in February or March. Plus, I think Dave would redirect you another 400GH since that would be more than $50,000 more ordered. Seems a good business move. If you like this idea. Post a forum thread. And if you want, I think we can beat the bushes for you to find a taker to assume your earlier Monarch order position at cost. Since it's paid, if you used a discount voucher, you might be allowed to keep that as profit for LRM. |
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Good thing bitcoin value seems to be rallying on the exchanges. That means LR can purchase more hardware when he places it with Dave soon.
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Got a lot of good news on the way, some of it I just can't release yet. I probably should take a day off every couple weeks though shouldn't I? How soon might this release happen? Let's call it release "R 1.0". That way you can reference to what you are thinking about here. |
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So is this a dictatorship led by Labrat Jong-un?
Long live our blessed leader and may the BTC be forever flowing
You better watch your tone. |
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The current mining rate as per website is ~2.1 TH which should mine aprox. 357 BTC a month/4 = 89.25 BTC for the last week
so (89.25*.75)/49496 bonds = .0018 per bond
This looks like a great dividend to me. Can anyone corroborate my calculations?
It would also be good to know how much of the 25%(22BTC) will get re-invested into more hashing power?
I think LR has to deduct one more portion for the overpaid week. After this week, it should reflect hasrate more closely. Also, I think 2.1TH is a underestimate for what is currently hashing. But I could be wrong. LR has the right to withhold some dividends for the first couple weeks of any new hardware that begins mining. I personally wouldn't mind if he took all dividends for this week to order more from BitFury. |
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I think that Labrat bought 3 minirigs from BFL at 22k each after the IPO finished and he said he would look at converting them to Monarchs. However he has not commented since that time if he actually did buy monarchs or not.
I would not be happy for him to invest any more in BFL especially now that any order made would be a Feb or later delivery.
It would be good to have a breakdown of exactly what has been ordered and from whom. Then we could make an educated guess on the future returns.
I would love for LR to get a refund on the Monarch orders and apply that all towards BitFury hardware instead. Would you rather have Monarchs in February or Bitfury in October? Sure, Monarchs are retailing at $8/GH and BitFury at $20/GH... but difficulty is the equalizer here... just consider the 70% increase per month, and more hardware coming out soon. Sitting and waiting for network gridlock might be the best bet. You might be able to buy a 2 TH miner for $2,000 next spring. |
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I like it when the price dips, it gives me a chance to get more cheap shares Does anyone know if Labrat is buying any Hashfast or Cointerra chips. I have only heard about Bfl and Bitfury chips so far. If HashFast can deliver the time they said, they would be the best (at least 28nm) to have ordered. Otherwise, I think Cointerra would probably be the best in the 28nm. But unless you can get very good institutional prices and/or Cointerra delivers in December, they are quite risky at retail costs. http://mining.thegenesisblock.com/a/137f27091aBitFury actually delivers sooner (which is super important), and can achieve some near 28nm efficiency from their 55nm chips - $20/GH and approaching 1W/GH, and I think there has been talk of even lower W/GH values if underclocked. However, I'm hoping LR get's some buying leverage from BitFury. He is at least getting some benefit from Dave (the stateside BitFury distributor) doing some mining for LR using his personal hardware. But I'm anticipating that LR is going to get some institutional prices at the quantities he is ordering - he probably should be, as that's normal business. Hope that LR get's the BitFury hardware in the first couple weeks of October, if not sooner. |
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so it went cpu->gpu->fpga->asic->?
whats next? what should i keep my eye on and be ready to buy with the snap of a finger if it comes out? i want to mine but im not stupid enough to get sucked into the big scam going around with junk asics that dont even make 10%ROI
also, how much more time has asic got before something better comes?
also, quantum computing, yay or nay for sha-256?
cloud mining perhaps... http://thegenesisblock.com/op-ed-bitcoin-minings-inevitable-centralized-future/ |
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If you're interested in buying 1.5TH in BFL hardware (3 mini-rigs), then send me a PM with bid. Hardware would ship from/to stateside.
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Are you buying BFL hardware at 0.4BTC/GH? Ifso, are you paying now or in the future? And how much BFL hardware can you take on?
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