Miners need to be lower than 1watt per GH/s to still be viable. BFL, Avalon, and ASICminer are not.
We are not in this phase of game. I expect the power consuption will play difference from 2nd half of next year I actually typo'd that, I meant 3watts per GH/s no longer being viable. ie KNCminer is still viable on paper. |
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(...)
The only savior would be if we see a massive rise in BTC/USD price which, to my surprise, has not moved to reflect the change in difficulty.
(...)
One is an indication of the other but correlation is not causality. I don't think they will stay coupled during the ASIC-led difficulty upswing. In which case miners will be soon forced to switch off to reduce the difficulty. |
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Unfortunately, Avalon chips are so inefficient, that the delay means negative ROI by the time you get your boards built and mining. Even if Yufi decided to refund everyone and give you the chips for free! The recent difficulty jump has made any ASIC over 3watts per GH/s not viable unless you get dirt cheap electricity. Which means ASICminer, Avalon, BFL are now all pretty worthless, and orders should be cancelled until a more efficient chip is available. The only savior would be if we see a massive rise in BTC/USD price which, to my surprise, has not moved to reflect the change in difficulty. I expected BTC/USD to be back around $200 now, with miners refusing to sell new coins for any less. The inability for ASICs to cover electricity costs is a serious issue. Look out ASICminer shareholders! Here is a mining ROI calculator with presets for most popular miners http://mining.thegenesisblock.com don't forget to set your local electricity price correctly first. The default is 15cents/kWh mine is 24cents! |
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Do your homework. Difficulty goes from 37 to ~47..
Do your homework, candoo. You have a lot of learn, young one. The latest difficulty adjusted to 50.8 m. Quite so, and what people fail to grasp is, at that growth rate, anyone who places an ASIC order for above $20 per GH/s will no longer get a positive ROI. That means all unshipped BFL orders are now worthless. Same with Avalon and it's derivatives. Those units will no longer cover their monthly power costs in many areas. This also means that the price of BTC/USD has to rise or miners will have to switch off their gear. Miners need to be lower than 3watts per GH/s to still be viable. BFL, Avalon, and ASICminer are not. |
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Out of interest I did a quick comparison of the GH/S per dollar this project was offering against KNC, it stacks up quite nicely!
GH/s Cost $/GHs
Drillbit 21.6 $300 $13.89
KNC Mercury 100 $1995 $19.95
If this project delivers in October then its considerably cheaper than some of the competing solutions.
100 GH/s would cost around $1400
That's assuming you clock the Drillbit flat out, if you run at at 2GH/s per chip then it's similar to KNCminer. |
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the 300$ option on drillbit site is for full board assembly and the 8 chips included in this price , corrrect?
Yep, details are in the first post of this thread. |
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I don't think you will have any problems covering the 3,000 chip order, simply because Avalon have dropped the ball with their chip supply so a lot of people will be looking for alternative projects.
I will stick a link to this thread on the Overclockers Australia forum, that should stir up some local interest for you.
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Just stumbled across this thread. If I order from Australia do I add GST?
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Not a chance, the product was priced in $USD not bitcoin. If you paid via bitcoin then you used a 3rd party like Bitpay that converted your BTC to $USD at a spot price to pay BFL.
That said, you should be able to get a refund from BFL in USD.
At this point, the problem is getting any refund at all. Those Scammerfly Labs claim that "all sales are final". BFL are in Kansas, which has strong consumer laws regarding refunds, "the all sales are final" clause can be safely ignored providing you lodge your complaint in Kansas. Thank you. I've requested a refund today and told them I am going to file a complaint to Attorney General if they start their "sales final" bullshit. Waiting for their reply. Make sure you explain that you haven't received the goods, as the status of refunds changes to a returns scenario once you receive the goods, which pretty much only covers defects. |
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Indeed, and I just now saw this at the bottom of the pool stats: "Note: Round Earnings are not credited until 120 confirms."
I need to pay closer attention to detail before bogging up the forums with such questions lol
I hope you realize that the block time for FTC is currently over 8min, so 120 confirms will take you about 18hours or more if the block rate gets any slower. One year the devs might actually get around to fixing the slow 504 block diff correction formula that causes the long block time, and most likely helped several 51% attacks. WOW, STFU, AssHole I like the way stating the verifiable facts pisses off the fanboys. |
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Not a chance, the product was priced in $USD not bitcoin. If you paid via bitcoin then you used a 3rd party like Bitpay that converted your BTC to $USD at a spot price to pay BFL.
That said, you should be able to get a refund from BFL in USD.
At this point, the problem is getting any refund at all. Those Scammerfly Labs claim that "all sales are final". BFL are in Kansas, which has strong consumer laws regarding refunds, "the all sales are final" clause can be safely ignored providing you lodge your complaint in Kansas. |
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Swim made a BFL order sometime in Apr/May 2013 for a single. Will (s)he be able to get a refund from BFL now? If yes, whats the process.
Not a chance, the product was priced in $USD not bitcoin. If you paid via bitcoin then you used a 3rd party like Bitpay that converted your BTC to $USD at a spot price to pay BFL. That said, you should be able to get a refund from BFL in USD. |
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Indeed, and I just now saw this at the bottom of the pool stats: "Note: Round Earnings are not credited until 120 confirms."
I need to pay closer attention to detail before bogging up the forums with such questions lol
I hope you realize that the block time for FTC is currently over 8min, so 120 confirms will take you about 18hours or more if the block rate gets any slower. One year the devs might actually get around to fixing the slow 504 block diff correction formula that causes the long block time, and most likely helped several 51% attacks. |
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I believe that the Bitcoin Foundation's argument is that in California BTC doesn't meet the definition of a currency.
That's irrelevant as it never went to court therefore it's not case law like the Texas ruling is. I've read various portions of California law and they are very explicit. They uniformly define "money" as something authorized by the U.S. or foreign governments. The laws distinguish between "money" and "monetary value", and in many cases the two are treated differently. Granted, these definitions apply only to the specific context (in this case, California financial regulations). From the California Financial Code 2000. This division shall be known and may be cited as the Money Transmission Act.
...
2003. For purposes of this division, the following definitions shall apply:
...
(m) "Monetary value" means a medium of exchange, whether or not redeemable in money.
(n) "Money" means a medium of exchange that is authorized or adopted by the United States or a foreign government. The term includes a monetary unit of account established by an intergovernmental organization or by agreement between two or more governments.
So next you need to look at the definition of "authorized or adopted by the United States". |
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circle jerks are flooding valuable posts is there moderator working ? this is ridiculous I'm pretty sure you are the circle jerk that's been flooding the past few pages. There are no mods here, that's why every ASIC thread blows out to be 10 times longer than it needs to be, making it very hard for buyers to keep up with what's actually going on. |
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I believe that the Bitcoin Foundation's argument is that in California BTC doesn't meet the definition of a currency.
That's irrelevant as it never went to court therefore it's not case law like the Texas ruling is. |
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The going price for bitcoin ASIC hardware is about $20 per GH/s for the next few months, pay anymore and don't ever expect ROI, that rules out ASICminer, Avalon, and of course BFL, placing an order now with those three at $50 per GH/s or more and it's money wasted.
By the end of the year hardware should be getting around $15 per GH/s or it wont be profitable, next year it should be well bellow $10 per GH/s.
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TL;DR, what was announced?
Comms breakdown due to extortion threats. Chips in customs. 2 more weeks >_> And he also announced he is not dead. yet  When millions of bucks are on the line, you takes your chances. I would be hiding if I were Yufi, then again I wouldn't take pre-order (crowd funding) money either, lets face it all sorts of criminals might want a piece of the ASIC pie. |
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Seems like TH should test the latest PCB since they are the ones with the resources + pick & place equipment.
Also they should have received 60 Avalon sample chips.
Who knows maybe they have already tested the PCB and keeping the results secret.
Terrahash have already demonstrated their board running http://www.youtube.com/watch?v=CBqWftIsLMI |
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