Any chance that hash rate is Canaan burning in new units to make sure they are OK before shipping?

back online after being away for a while (vacation). Vacation didn't suck, but somehow my miner got knocked offline. 

Would help to tell us how much you want, where you are, will you accept escrow, etc.

But to be honest, until you can prove you have the WTT and there is a mechanism for transferring ownership, I'm not sure how that transaction would take place. The mining hardware is easier.

You can also post that info here:
https://bitcointalk.org/index.php?board=5.0

Welcome to the wonderful world of crypto-currency mining. I think you are probably correct in your assessment of the increase in difficulty.

Just think, when your three miners arrive you will be contributing to the difficulty rise. 

I see rising difficulty as necessary, in that if the difficulty to mine a coin is not rising, then the coin is not likely in demand, and likely not especially valuable to the broader market. Look at Bitcoin and Ethereum as two examples. Their difficulty is shooting to the moon as is their coin's value. The demand for the coins and their increasing value is driving more miners (HW and people like us) to mine them. As more miners are entering the game they are driving up the difficulty which is necessary to keep the block generation rate within the desired range.

As long as the coin's value rises at or above the same rate as the difficulty to mine the coin rises, then mining is profitable and the equipment purchased to mine eventually will return that investment (ROI). If you want ROI in a very short time, then you have to take a big risk as a very early adopter (like the April buyers of the L3+) on an untested device. Buying in now has a far reduced risk, but at the cost of a longer time to ROI. You also have to buy a sufficiently powerful miner. For example, my Gekko Science Compac USB stick miner will never achieve ROI, unless it finds a block, which is why I have it pointed at ck's solo pool. My S7LN with sidehack's power mod has returned my investment because the amount of Bitcoin it has found when converted to fiat is more than what I paid for it in fiat, but it has taken about a year.

ASICs by their nature can only do one protocol. The best multi-algorithm miners are GPUs. The trade-off is the one that you always make when choosing a specialist versus a generalist. Specialists are fast but inflexible; generalists are flexible but not fast. That said, there are some algorithms that are ASIC resistant and those are the ones where the GPUs really shine. If you go down the GPU path, there are several GPU options (AMD versus nVidia), and each one has algorithms where it's more efficient than the other. Don't forget to factor in cost/availability into the efficiency calculations. AMD may be awesome on your favorite algorithm, but if you can't get AMD cards, then it's a moot point, and nVidia becomes the de facto "winner."

Here are a few more web sites to help you see what's going on in the world of mining pools and coin values:

• http://poolpicker.eu
• http://whattomine.com/coins
• https://coinmarketcap.com/currencies/views/all/

My best guess is that the long pole for new batches is probably access to the ASICS. While Bitmain buys a lot of chips from our perspective, they are small potatoes to the silicon foundries. If there is a lot of demand for ASIC silicon from the foundry's tier 1 customers, then Bitmain gets pushed down the list. Bitmain also orders chips in small(ish) quantities so that they don't get stuck with inventory that they can't sell if demand suddenly dries up (as you might see if a competitor releases much more efficient miner). Once Bitmain has the chips, I'm assuming that the time to build the miners is relatively short.

Investing in warehouses is rarely exciting, even if those warehouses are being leased/sold to the big "A" e-tailer, and let's face it, these are warehouses with lots of fans and an excess of (cheap) power.

Giga Watt and Cryptonomos didn't push any crazy hype, or at least what I saw wasn't crazy hype. They promoted what it was that they have for sale, and that's access to a managed hosting site with cheap hydro-power and an experienced team.

The WTT tokens I bought and the L3+ miner I ordered are a small percentage of my overall portfolio, and something that if it goes to zero, will not radically impact me. I'll not be thrilled if the investment does go to zero, of course, but this is a rational way to build on a new type of asset class (crypto currencies) that seems to have significant upside. In the short term we'll have to put up with the huge volatility, but that's life on the edge.

In fact the output of the L3+ will be used to buy more mining HW until I have purchased enough to consume all the WTT I have without having to rent WTT. At that point I will use the output of the miner to buy WTT, assuming I can buy more WTT, until such time as I have enough WTT for the next chunk of mining hardware. Once I have enough WTT for the next miner the output of the miners will be pooled to buy the next miner.

I'd like to see Giga Watt offer miners from other brands and other coins, but I understand that they need to be able to support those things.

Using GPUs to mine Litecoin hasn't been worthwhile for a long, long time. There are literally hundreds of other alt-coins for which GPUs rock.

If you really, really want Litecoins, use your GPUs to mine other alt-coins and exchange them. You will probably have to exchange the alt-coins you mine for Bitcoin, and then from Bitcoin to Litecoin. It's a couple of steps and some trading fees, but it is better than the fools errand of trying to mine Litecoin with GPUs.

Keep a fire extinguisher handy.

Measure the actual output to calculate how loaded the brick actually is. I'm sure that you probably already know this, but as a general rule of thumb running something long-term over 80% of it's rated output is not recommended. Consumer grade stuff even more so.

That you are pulling 65W at the wall may just be an inefficient power supply.

There is the charge for electricity and maintenance, as a holder of WTT tokens you are guaranteed space in the facility for your miners.



They are indeed in demand. Keep an eye on the Giga Watt web to see when they become available. Also, send an email to Giga Watt sales/support and tell them that you want two L3+ miners. Before you do that, at least buy the WTT tokens and make sure that you have enough to pay for the miners.

When I ordered my L3+ a while back I had purchased WTT tokens (hopefully in batch 1), and had bitcoin ready to pay for the miner. I understand that things have changed since then. Giga Watt can tell you the new requirements if you contact them.



That's what has been communicated.


No. That will come sometime after the ICO has completed. I seem to recall seeing an estimated date earlier in this thread.


If you know you want to have Giga Watt host your miners, buy the WTT now during the ICO. Worst case is that you hold the WTT until you can order miners from Giga Watt or somehow secure your own miners that you can then send to Giga Watt.


Well, it is speculation. Prices could move higher or lower, depending on demand and supply of WTT on the exchange(s). If you buy in now you know the price you will be paying. If you wait until they are trading on an exchange, your guess is as good as anyone's as to what price you will pay at that time.

The value proposition for me, personally, is the availability of inexpensive electricity. Giga Watt's electricity plus maintenance cost is roughly 33% of what I pay now for electricity, and that doesn't include my cooling costs.



Try reading older messages in this thread. I believe that this question was already answered. You could also contact Giga Watt directly and ask.

Try on this message thread:
https://bitcointalk.org/index.php?topic=1764803.0

The prices that are quoted on Giga Watt's web site are inline with the prices if you were to order the equipment from Bitmain. Don't forget that the price quoted on the Giga Watt site includes the miner, the power supply and power cord, shipping, and import duties/fees. I would also expect that there is some profit built-in to the price since Giga Watt is not doing this because they are nice, i.e.: working for free.


Each WTT token guarantees access to a facility and eliminates the usual hosting fee for 1 watt of consumed power. To host a miner that is rated at 800 W +/- 10%, you would need 800 WTT + 80 WTT (the + 10%) = 880 WTT tokens.

The way I explain WTT to other folks is like a long-term corporate bond. It's not exactly the same, but close enough to make the point.

As long as you hold the bond and the company has not defaulted or closed, you have a claim on the company which is the face value of the bond. In addition to the face value of the bond, the company pays you some amount of money, the coupon, as a way of compensating you for loaning them your money.

In the case of WTT, the face value is essentially the current hosting fee, but can vary for you depending how many miners you have hosted at Giga Watt. While there is no "coupon" per se, you will be able to "rent" your unused WTT tokens to another mining operator that needs tokens. Currently there are four possible rental rates (4.20, 4.95, 5.70, and 6.45 US Cents/kW/H)  that correspond to the rental fees for the four sizes of mining operators (X-Large, Large, Medium, Small) at Giga Watt.

Once the ICO has completed the intent is to list the WTT token on one or more exchanges so they can be traded.

Yes, 50 years is a long time, but there are many companies that have been in existence for longer than 50 years, too.


Thanks! It's going to be interesting for sure.

Man, it's been tough to find "good" shares. Even my S7LN has found only a 1,079,452,415 share on ck's "other" pool.

I'm here for several reasons, and know that there will be growing pains, and this is an acceptable situation for me.

Things like this happen when you move the bar forward, and though I only have 2TH, it'll be here for the foreseeable future.

Actually it is very easy to say anything, but only time will prove who was telling the truth.

I'm taking a calculated chance on Cryptonomos/Giga-Watt by buying tokens and mining hardware. If this investment goes badly I can lose my money just like any other investment. I will learn from the experience and move on, just like my other more traditional investments. If the investment goes well, I will use the proceeds from the mining hardware to buy more tokens and mining hardware until such time as I have reached my income goals or the purchase of tokens or mining hardware no longer makes sense or is not possible. At that point I will collect the income provided by the combination of tokens and mining hardware I own.

I purchased tokens that are probably part of B1. I will know for sure when the tokens are issued. My first mining hardware purchase was an L3+ Litecoin miner which was advertised to arrive on 20-September.

Most modern PSUs can run on a wide range of voltages. 208v is a common voltage for industrial 3-phase power in the US. I ran many racks of servers (1u, 2u, 4u, and blades) 24/7 on 208v with no problems at all. That same 208v fed other desktop (non-rackmount) servers, too.

https://en.wikipedia.org/wiki/Three-phase_electric_power

The proceeds from mining goes into their account so that they can keep track of what your miner(s) has mined so that they can deduct their fees. From what I can tell by reading the info available in the WTT white paper and the web sites, Giga-Watt pays out daily. Given that you know the hash rate for your miner(s) and the network difficulty, any decent mining calculator (or your own calculator or spreadsheet for that matter) can tell you the expected output. Deduct the daily fee for your miner(s) and you should be able to calculate the deposit to your account.

Here is a decent calculator: https://bitcoinwisdom.com/litecoin/difficulty
It's not fancy and doesn't consider power costs, but it gives you an idea. Here is another one that does take into consideration the cost of power: https://bitcoinwisdom.com/litecoin/calculator
and another: http://tinyurl.com/yanebqbx -or- http://preview.tinyurl.com/yanebqbx (this shortened URL goes to whattomine.com, the preview link allows you to see the original URL I shortened)

By doing it this way Giga-Watt makes sure that they get paid and not scammed for the fees to run the miner(s). Oddly enough there are an amazing number of scammers on the internet, and some of them use crypto-currencies.

Also, somewhere in an earlier message on this thread, it was mentioned that additional coins/pools may be considered.

https://cryptonomos.com/wtt/calculator

You're welcome.

Maybe they are used to *main's tactics.

• Pre-selling thousands of units to pay for lavish vacation homes and wild gambling junkets in Macau rapid prototyping of "B1 miners"
• manufacturing the B1 miners
• shipping the B1 miners
• waiting for the test results from the B1 Alpha test sites
• revising the B1 prototype miner design now named B2
• go to step 1, and repeat until Bxx using current ASIC no longer sells

It seems that you have questions about tax issues/concerns for an international company where the management team resides in one jurisdiction (aka country) and the physical assets exist in another. Rather than relying on the internet for advice from people you do not know on subjects that they may not know, you would probably be best served by retaining a tax attorney or firm that is well versed in these kinds of entities and situations.