 Show Posts
|
|
Pages: [1] 2 3 4 5 6 7 »
|
|
1
|
Alternate cryptocurrencies / Tokens (Altcoins) / Crypto firm Giga Watt aims to retool after upheaval
|
on: September 29, 2018, 02:31:46 AM
|
Crypto firm Giga Watt aims to retool after upheavalhttp://www.ifiberone.com/columbia_basin/crypto-firm-giga-watt-aims-to-retool-after-upheaval/article_341615a0-c37f-11e8-8c4e-676d6611b1b5.html
EAST WENATCHEE — George Turner has a task on his hands: Turning around a $30 million blockchain project that’s losing money, laid off staff, lost its CEO, owes money to contractors, and faces a federal class action lawsuit
Giga Watt Inc., a massive host service for cryptocurrency miners, announced this week it had laid off 47 of its 63 staffers, amid liens from contractors amounting to more than $625,000. The collapse came after founder and CEO Dave Carlson spent years as Giga Watt’s public face promoting the promise of blockchain — the distributed computing system that makes cryptocurrencies like Bitcoin possible.
But as trouble loomed, Carlson departed in mid-August — so quietly that even employees weren’t aware of his decision for weeks. He remains head of the board of directors. Turner was named managing director.
“Giga Watt took on, really, the equivalent of one of Hercules’ own trials,” Turner says — namely, the construction of a privately owned substation that would have powered 22 buildings of high-capacity processing equipment with more than 30 megawatts of electricity.
The plan couldn’t come together without agreement from Douglas County PUD and the Port of of Douglas County, and the substation had to be redesigned multiple times to meet standards. That put Giga Watt behind its ambitious construction and financial targets, Turner says, and layoffs became the best option.
Some staff asked to stay on voluntarily, Turner says, “because they believe in the vision. Where do you find people like that? It hurt to let those kind of people go.”
Giga Watt set itself up as a host service for crypto miners, selling equipment and computing power to help them harvest value from Bitcoin and other blockchain assets. Its financing was tied up in crypto-based “tokens,” or shares, that it sold in a sale called an “Initial Coin Offering” last year.
Token value was based on hitting construction benchmarks, which have now passed unmet, alienating both clients and investors. Cryptocurrency values have also fallen generally since the ICO. Giga Watt settled a lawsuit from one token holder, but now faces a class action suit that could represent thousands of them, claiming the ICO ignored U.S. commerce laws.
“We promised certain target dates early on, before we or even the Port or the PUD really understood how complex this project was going to be,” Turner says. “… Was the ICO something we needed to do, was it a good idea, was it a mistake? And the answer was yeah, I think it was all of those things in some ways. We needed the funding, we wanted our clients and investors to be involved in the project, and we saw that as a way to make that happen.”
Giga Watt now hopes to retool — becoming na more traditional server farm, renting processor bandwidth for AI, CGI rendering and other applications. Cryptocurrency remains in the mix, though. In fact, some of Giga Watt’s processors are now hashing Bitcoin to help pay its debts.
“We’re fighting for this company. We’re fighting for our clients. We’re fighting to satisfy the debts we owe to our creditors. We’re fighting really for our own future, and the future of the employees that we had to lay off, most of whom had gotten to be like family to us.”
|
|
|
|
|
3
|
Bitcoin / Hardware / Re: Please Find Flaws in My Small Space Home Mine Plan!
|
on: October 12, 2017, 12:24:46 PM
|
4) I've purchased a 1200 cfm fan which will sit on top of the upside down trashcan. I will cut a hole in top of the trashcan and fan will pull air through hole and vent through flex duct and out the side of the house.
Why a trash can ? Virtually all non-metal trash cans are made of polypropylene. This is the most annoying substance on the face of the earth because absolutely no glue will stick to it except for an insanely-overpriced two-part epoxy from 3M that costs $120 per tube. JB Weld claims one of their products can glue polypropylene but I know from firsthand experience this is a lie. Anyways. Don't try to make DIY stuff out of anything involving polypropylene, you'll be kicking yourself as soon as you realize you need to glue something somewhere. |
|
|
|
|
6
|
Alternate cryptocurrencies / Mining (Altcoins) / Re: limits of ZEC mining
|
on: September 14, 2017, 01:07:36 AM
|
Yesterday I realized I forgot to account for the 1:1 command:burst ratio. Because of that, doing 64-byte random writes will be no faster than 128-byte random writes.
I don't think this is correct. See the diagram below from the JEDEC GDDR5 specification showing gapless reads from a single row; half the command slots are NOPs (particularly at time=T1). These slots can be used to send ACTIVATE commands to other banks, so as long as you distribute your workload across the chip's banks (and observe that annoying tFAW or find a chip that doesn't really need it) you can indeed do totally random reads at the full pin bitrate and the only requirement is that the read size is at least 32bits*8wordburst=256bits=32bytes by using AUTO PRECHARGE to eliminate the explicit PRECHARGE command on the command bus. In particular, the command:burst ratio is 2:1 for 8word bursts, not 1:1. Maybe you missed the fact that the address pins are DDR in GDDR5? I have implemented a system that does exactly this (stealing that NOP slot to ACTIVATE a different bank) on DDR2 and it works. Granted DDR2 is not GDDR5, but the idea that an ACTIVATE-READ command pair ought to use the same amount of command bus time as the data it procures is something JEDEC has worked to preserve across many generations of memory with a wide variety of burst lengths and timings. I don't think GDDR5 would depart from this lightly. Everything I wrote in this post is about GDDR5 independently of any particular GPU or even all of the GPUs on the market taken together. GPU memory controllers are not optimized for random/scattered reads like you find in most cryptocurrency mining PoWs. I would not be surprised if no GPU is actually able to do scattered full-bandwidth reads at the minimum 256-bit granularity allowed by the GDDR5 spec; that's just not something that's a top priority for rendering video games.  |
|
|
|
|
8
|
Other / Meta / why is thermos censuring altcookery?
|
on: September 08, 2017, 03:53:53 AM
|
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted. It depends on what day of the week it is and if you have a clue what day it is....
Also depends on weather you mine with your toaster or sandwich maker too.
This, 100x. Everybody knows the George Foreman Grill gets the best hashrate. I would like to know the reason for this anti-George-Foreman-Grill bias on the part of the moderators. Why are you censoring altcookery? I think the waffle-iron maximalists are manipulating reddit votes. Somebody call the internet police and/or restaurant inspector. |
|
|
|
|
9
|
Economy / Exchanges / Re: Cryptopay Bitcoin Debit card + Giveaway
|
on: September 08, 2017, 03:43:29 AM
|
I think they are very busy with the card transition process. I was already issued the new card with new limits.
BINs or it didn't happen. I suggest you fully verify your Cryptopay accounts
No thanks, I've had my identity stolen enough times for one lifetime. |
|
|
|
|
10
|
Economy / Exchanges / Re: Cryptopay Bitcoin Debit card + Giveaway
|
on: September 07, 2017, 11:05:40 PM
|
If Cryptopay can't issue new cards rigth now they should at least give advise before take your order, we are wasting our time asking for a card and we are not sure if the current terms (as the website lists it) will aply with their future card programs, taking our orders (and money) before set up a working program is unprofessional at best and borderline scam at worst.
The silence from @cryptopay_support is deafening. |
|
|
|
|
12
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come
|
on: September 07, 2017, 04:56:08 AM
|
A reply of yours, quoted below, was deleted by a Bitcoin Forum moderator. Posts are most frequently deleted because they are off-topic, though they can also be deleted for other reasons. In the future, please avoid posting things that need to be deleted. It depends on what day of the week it is and if you have a clue what day it is....
Also depends on weather you mine with your toaster or sandwich maker too.
This, 100x. Everybody knows the George Foreman Grill gets the best hashrate. I would like to know the reason for this anti-George-Foreman-Grill bias on the part of the moderators. Why are you censoring altcookery? |
|
|
|
|
13
|
Economy / Exchanges / Re: Cryptopay Bitcoin Debit card + Giveaway
|
on: September 07, 2017, 04:52:04 AM
|
I see your issuer card is MyChoice as all other Bitcoin cards provides , do I need to ID verification for Virtual cards?
Isn't Mychoice closing account for customers outside of Europe  The silence from @cryptopay_support is deafening. |
|
|
|
|
16
|
Alternate cryptocurrencies / Announcements (Altcoins) / Re: Nexus - Pure SHA3 + CPU/GPU + nPoS + 15 Active Innovations + More to Come
|
on: August 27, 2017, 06:31:28 AM
|
Is there a simulator to calculate how many nexus I would receive mining using an Antminer S9 - 14THs?
Yes, you will produce zero. Nexus uses SkeinKeccak1024, not SHA256. Hey, I wanted to know that if a mining rig can generate 230 Mhs to mine ethereum, do you know what that same amount of capability can produce for mining Nexus??? LIke for example what hashrate it would produce? The miner has 8 RX 470's . If anyone can tell me how much hashrate that will produce for mining Nexus. Thank you.
Somewhere between none and lots. Depends on the celestial alignment; if Orion is in the fifth house then the charts could make a fangy skull pattern. |
|
|
|
|
17
|
Economy / Exchanges / Re: Uquid bitcoin debit card reviews
|
on: August 24, 2017, 03:21:28 AM
|
Hrm, so many newbie users suddenly appear swearing that it is not an exit scam.... no, not suspicious at all... Support answer me at facebook (support guy was very nice), they said they are working on it and they will have a solution soon, what is not clear for me if is I just wasted 100 usd on an express plastic card or not since mine arrived 2 days ago. They will replace the cards? They will do it in express mode for those who payed for that?
You right, Support is very nice. I had few hundreds in the USD wallet and they returned it to my BTC addr as I requested. They are working hard to fix the issue and I can tell you, This is by far the best support I ever had in digital currency, different from others that take weeks to reply and don't tell you the truth. I hope the service comes back ASAP so I can use UQUID again. This issue just make me confident it is NOT scam. |
|
|
|
|
18
|
Economy / Exchanges / Re: Uquid bitcoin debit card reviews
|
on: August 22, 2017, 07:52:00 AM
|
Day 8 and still "All Card Services on maintenance mode. Expected working back within few hours . We do apologize for any inconvenience caused"
should be "All Card Services on maintenance mode. Expected working back within few years . We do apologize for any inconvenience caused"
No I swear it's not an exit scam!!! Really!! |
|
|
|
|
