It would be hard for him to make that bet IF BitFury is not the manufacturer of the rig.  It's too hard for him to know when another manufacturer of rigs using their chips will actually ship.

2.2% of the blocks in the network for that "Week" is damn good, considering kano.is has 1.8% of the network hash rate at present.

Don't forget to add, "In good working order and according to specifications."

I was wondering if all that he was saying was actually accurate information.  Thanks for clarifying, Kano.

Sure... You're very welcome.

All who are new to mining, new to the pool and new to the blockchain will find the following video quite educational.  Andreas got into explanations about SHA256, the blockchain, what goes on in a "race" when blocks are found by competing miners, the importance of low latency, etc...  I thought it was educational and others new to mining here on the pool will find it educational as well.  

If I'm out of line for posting the link in this forum, my feelings will not be hurt in any way if the moderator decides it needs to be deleted.

Consensus Algorithms, Blockchain Technology and Bitcoin UCL - by Andreas M. Antonopoulos
https://www.youtube.com/watch?v=fw3WkySh_Ho

Thanks for the info and recommendations.

I teach telephone technicians how to use their meter to identify and locate troubles on wire line telephone service; not wireless.  I also teach transmission trouble shooting and some outside plant engineering design.  ADSL is asynchronous but I'm very limited on my knowledge of it.  My training focuses more on maintaining the wire and/or fiber [In the middle] connecting networks together rather than each end of the network with its equipment.  

Telephony training in the telephone industry has taken a hit lately with the economy being so terrible.  When the stocks of CenturyLink and AT&T take a hit, one of the first things to go in their budget cuts is training.  I used to be on the road 42 to 45 weeks annually.  Now, I'm fortunate to get 6 to 10 weeks of training classes annually after more than 18 years in training.  So, i turned to mining to supplement income I had lost from less training.  

Now, it looks like I might have to open up some e-cig stores to supplement my income from training.  I've been thinking about opening up six to ten e-ciggerette stores in my area.  I may end up going that route to make the funds.  It's quite possible to clear $5K+ monthly from each store after taxes and expenses.  A buddy of mine does this on average from each of his 14 stores scattered over about a 40 mile radius.

I'll take your advice to heart, weigh my options and decide what to do with my time.  Obtaining the funds is the biggest obstacle in my opinion.  I don't see where it profits me much to learn the stuff if I don't have the funds to use it.  I may end up continuing the way I'm going with buying the best gear I can get my hands on when it's available.  The block halving approaching doesn't help at the moment either.

So, more than likely, I'll go the e-cig route to obtain more funds to have more options when it comes to mining.  If a 0.06 watts per GH/s rig comes on the market, I'm quite certain it would be able to mine with profits for quite a while.  Maybe for the lifetime of the rig.  I hope someone comes out with one soon that's available to us all.  I'm not giving up on mining.  That's for sure.  I'm now in wait and see mode regarding mining.

Thanks again for your recommendations.

I totally agree with you, Sir.  I was simply trying to help with marketing and coordinating to try to get things moving with others who already have the know how.  Instead, I'm told by someone who appears to have the knowhow to do one of 3 things.   lol  

At least I know NOW not to waste my time with them.  I would probably end up getting taken advantage of out of spite now.  I was simply trying to offer my time, energy and money to help them and others get something done.  Plain and simple...

Anyone have an online class they recommend for designing chips?  If there are certain things I cannot learn unless I'm in a classroom environment, let me know and I won't waste my time trying to learn online but do my research of a college here locally in Birmingham to take specific classes needed for what I want to accomplish.  I don't need a degree; only the knowledge with some experience.

It sounds like an ASIC for bitcoin mining is relatively simple compared to other applications after reading this subject in other threads.  I just want to take the time to learn it myself.

Fine, I can take that medicine.  Sounds like it's time to do research and homework.  Then try to come up with the funds one way or another.

I like that idea too.  I would make a nomination for CK/Kano Pool to be that pool and they would probably be wiling to develop that special version of cgminer just for their pool at no cost.  They would be getting paid for their contribution by having more rigs on their pool finding more blocks, etc...  Hell, I would even send them a contribution for their time and effort.

Now, I'm only throwing ideas out for people to brainstorm.

We could make it where ALL investors are owners of the crowd fund.  The percentage one owns depends on the amount they invest.  Rules need to be set up so that NO ONE ever has 51% or higher ownership.

Also, we would need to create something where those who invest MUST continue to put in a certain percentage of their earnings from mining back into the fund each month.  For example, maybe 3 to 5 percent should go back into the fund.  If they invested $100, they need to put back $3 to $5 every month into the fund every month for continued product development and to continue manufacturing.  It may be that 10% would need to go back into the fund every month.  I'm simply trying to throw out a number to for those who purchased ownership of a rig to continue their ownership in the company.  They can sell their ownership to someone else if they like.  If someone gets behind on their monthly dues for product development and manufacturing, they can no longer expect to have access to future gear that is created by the company of the crowd fund.

I'm throwing out ideas to try to keep something going if we are able to start it.  I don't want it to simply be a one time thing.  I want it to keep going and grow.

This would also mean people would have to be chosen to run "support" if issues should arise.  There needs to be a place to house the gear before shipment; for support; for repairs; etc...  Quite a bit to consider.  I would like to get something like this going if many with the contacts and the knowhow can work together to try to get this done.

EDIT:  The minimum investment might have to be like $500 or $800.  I'm not sure.  We would have to determine that number.  I simply used $100 for easy math.  If we could create a 16nm rig with 10 TH/s at 0.06 watts per GH/s at $800 cost per rig, it would ROI relatively quickly at current price of bitcoin and difficulty.

So, we would basically have to come up with a ball park figure of how much a 8 to 10 TH/s rig would be at cost for development, parts and manufacturing.  Each individual would be responsible for shipping to their location, any customs charges, VAT, etc...

I'm basically saying the minimum investment would be the cost for one rig.  The individual who made that investment also owns part of the crowd fund AS LONG AS they continue paying monthly dues for continued product development and manufacturing.  It may be we could make it 20% of their initial investment.  If they want to invest more as time goes along to get more rigs, that is fine too.  I'm just brain storming trying to figure out how to do this.

same here.

I willing to invest up to about $40K for starters if I knew we could have a damn good product with excellent efficiency that would be in the mix for quite a while.  When I say efficient, I'm talking about 0.06 watts per GH/s or better.  If we had a rig with 16nm chips and that kind of efficiency, I'm game.  We just need a lot more investors it sounds like.  I don't even want to start a thread on this to begin anything like this and put all the effort into sending hundreds of PM's out to people to market it to them if it's not possible for that kind of efficiency and/or coordination.

It's also important to have this done in a way that protects everyone's investment.  I mentioned earlier that if the money needed to get it moving was not accomplished within a certain time frame, there needs to be a means of everyone being able to get their money back.

It would take more than just me getting the word out.  I know I sent out hundreds of emails to get people to point their rigs to CK/Kano Pool a couple of months ago.  I got quite a bit of people to come over.  They too talked to people to get them to come over.  People have to be willing to invest the time to send out PM's to get it going.  However, FIRST, I need to know it CAN be done and A PLAN has to be put together to explain [To would be investors] HOW things would be accomplished, WHO will accomplish WHAT and WHEN.  It will take some coordination, for sure.

EDIT:  People have to be chosen who will maintain contact with people and institutions throughout every phase of the design, development and manufacturing.  Many things to consider and coordinate.

Yes, I have been quiet.  I've been very busy lately.  I've had to analyze different things to make the right decision and it has taken up a lot of my time.

Captminer,

Good job, buddy!  It was comforting to have that one over with.  We can expect those at times.

23,000 BTC is only a small drop in the bucket.  We have approximately 15 million bitcoins in existence now.  Most of the bitcoin held today is not by miners but by speculators.

If a rig was designed and manufactured with [for example] 100 x 16nm chips, that would be 1,000 rigs each month for 100k quantities a month.

How much per chip do you think would be your estimate if we were able to get the 100k per month.

Also, I'm sure they would want us to purchase 100k/month for a certain length of time.  Would it be like 6 months minimum or 12 months?

I'm just trying to get an idea for the cost of the chips alone over a certain length of time (6 months to 12 months).

I sent you a PM but you, NotFuzzyWarm, and 2112 have basically answered my question.

Bummer...   Damn damn damn damn...

Thanks for your input.