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741
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Bitcoin / Hardware / Re: Open Source Avalon Gen2 55nm Board
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on: November 12, 2013, 09:43:46 PM
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Create a blade which can be used to replace a current one in an avalon and sell it at a price which leaves a 20-30% earning margin to the buyer and you can probably sell six thousands of such blades in a few hours...
That's the impossible part. Everybody has a different idea of what the price should be to "leave 20-30% earning margin". And if you want to satisfy most potential buyers, the price has to be such that the vendor has to sell at loss. Look: a Avalon 55nm chip at 1.5Gh/s delivered about 2 weeks from today would probably not mine more than 0.060-0.070 BTC during its entire lifetime (most people would agree). If you want to leave 20-30% earning margin, it means the vendor would have to sell at less than 0.046-0.058 BTC per chip. But the chip alone costs 0.060 BTC from Bitsyncom... The chips would have to be under $10 to be useful. This pricing in BTC is bad, it's should be priced in fiat and you can pay in BTC using Bitpay which works out the exchange rate on the spot. If chip delivery takes more than 2 weeks, then it's probably not worth taking the risk and simply keeping your BTC as it's generally rising in value. |
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742
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Bitcoin / Hardware / Re: Open Source Avalon Gen2 55nm Board
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on: November 12, 2013, 08:27:49 PM
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Nice project. My concern it that Avalon will let us down with chip supply again like happened to the Klondike project. Does anyone have any information on there chip sales/schedule?
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745
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Bitcoin / Group buys / Re: [CLOSED] NanoFury NF1 USB stick - Group Buy + Product Assembly
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on: November 11, 2013, 09:32:30 PM
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Would love to hear from some additional linux users.
We know they work:
On windows with USB2 and USB3 hubs.
On "normal" linux box with USB3 hubs.
We know it doesn't appear to work w/ Pi and USB2 hubs.
A Pi is a normal Linux box it's just not Intel based. You obviously have to make the effort to compile the correct version of bfgminer to support the NF1 the hub is irrelevant is it's not part of the Pi. Not quite. Pi has various USB-related hardware issues. Wouldn't they be the same for all USB miners on the Pi then? |
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746
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Bitcoin / Group buys / Re: [CLOSED] NanoFury NF1 USB stick - Group Buy + Product Assembly
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on: November 11, 2013, 09:18:02 PM
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Would love to hear from some additional linux users.
We know they work:
On windows with USB2 and USB3 hubs.
On "normal" linux box with USB3 hubs.
We know it doesn't appear to work w/ Pi and USB2 hubs.
A Pi is a normal Linux box it's just not Intel based. You obviously have to make the effort to compile the correct version of bfgminer to support the NF1 the hub is irrelevant is it's not part of the Pi. |
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748
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Bitcoin / Hardware / Re: [HOWTO] flash your jalapeno to 8+ ghs
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on: November 11, 2013, 01:22:04 AM
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is that really possible? I mean just put chips and they will work right away?
chips are not so high priced - and we already have all in place - if you could really do it it would be at least awesome )
At least one person has done it, you need to upgrade your power supply as well with 4 chips, not sure what hell will break loose with six. The trick of course is soldering BGA; I have air tools, but have never quite done this. We shall see... The problem you might get it the heatsink with the extra chips, I don't know if the Jalapeno heatsink is the same one as in the Little Single, investigate that before loading up the board. Also check if the regulators are the same. |
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750
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Bitcoin / Group buys / Re: DRILLBIT SYSTEM Miners - Thumbs 0.5 BTC (5 left), 8 Boards 1.6 BTC (11 left)
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on: November 09, 2013, 07:19:12 PM
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I actually am interested in the boards but at 1.6 BTC that's over $600 at current MtGox prices. According to the Coinish Advanced calculator there's no way it ever breaks even at that. The price per BTC would have to go over $800. So I guess I'm lost how they would be breaking even or making money? I freely admit I might have done something wrong.
I tend not to buy things that are priced in BTC. I am happy to pay in BTC, but not price in. |
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754
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: [ANN] mcxNOW.com : Deposit. Earn Interest. Trade.
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on: November 07, 2013, 11:30:36 PM
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I understand your want to not like mcxnow probably b/c of RS, but for fucks sake at least argue/debate correctly.
Quote me directly from his post above where he mentions 'continuous injection' 'sustain the payout for the existing users' .
I asked a simple question, if you can't answer then just say so or say nothing. I will attempt to answer my own question. RS received some 11,1159.2 BTC as a result of selling approx 27,898 mcxFEE units @ 0.4BTCea. over the past two weeks, that BTC didn't come out of thin air like the mcxFEEs did, that BTC came out of the liquidity of the mcxNOW users. As the exchange is not very high volume compared to most others, the impact of the loss of liquidity will be felt hard. The mcxFEE shares were advertised as dividend producing units which made a return to investors based on 0.001% of the mcxNOW exchange transaction fees per unit. It's pretty obvious that the exchange liquidity is crucial to the return of dividends to investors, and that liquidity just took a 11,1159BTC hit. Even to replace those BTC, at a rate that investors can simply cash out when they want to without overall loss, let alone make a small profit, is going to take far more than a few new buyers. |
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755
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: [ANN] mcxNOW.com : Deposit. Earn Interest. Trade.
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on: November 07, 2013, 10:10:31 PM
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I see that mcxFEE got down at low as 0.25BTC within two days of trade commencing. They are currently at 0.3179. Considering most of the 28,000 sold over the past week or so were at 0.4BTC I wonder what most of the holders are now thinking?
There were 45,000 units on offer, but RS had to take back roughly 17,000 of them as they were not selling well. I suspect the 0.4BTC price was unrealistic given the large volume on offer. Remember that there were 5,000 mcxFEE circulation prior to this sale, and to suddenly have 900% more hit the market was not going to happen unless they were at a good price. Which I suspect, was somewhere around 0.2-0.25BTC each. As soon as trade resumed two days ago, aside from a small manufactured pump, the unit price has stayed well below the 0.4BTC issue price. It will be interesting to see how long it takes for unit holders to break even.
The 0.4 are worth it considering the result. If they were not all sold it's because of a lack of liquidity. THe price is at 0.3 but we are talking about very small quantity traded at this price. There is no buyers left, they all have the share they wanted. And now they are holding. For the price to go up, the exchange need new people, and fresh BTC deposit. I think it's in a good way. Today was an all-time highconcurent users : 1600 So are you saying the exchange needs a continuous injection of new users to sustain the payouts for the existing users? |
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756
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Alternate cryptocurrencies / Service Announcements (Altcoins) / Re: [ANN] mcxNOW.com : Deposit. Earn Interest. Trade.
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on: November 07, 2013, 09:00:22 PM
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I see that mcxFEE got down at low as 0.25BTC within two days of trade commencing. They are currently at 0.3179. Considering most of the 28,000 sold over the past week or so were at 0.4BTC I wonder what most of the holders are now thinking?
There were 45,000 units on offer, but RS had to take back roughly 17,000 of them as they were not selling well. I suspect the 0.4BTC price was unrealistic given the large volume on offer. Remember that there were 5,000 mcxFEE circulation prior to this sale, and to suddenly have 900% more hit the market was not going to happen unless they were at a good price. Which I suspect, was somewhere around 0.2-0.25BTC each. As soon as trade resumed two days ago, aside from a small manufactured pump, the unit price has stayed well below the 0.4BTC issue price. It will be interesting to see how long it takes for unit holders to break even.
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760
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Bitcoin / Group buys / Re: DRILLBIT SYSTEM Miners - Thumbs 0.5 BTC (58 left), 8 Boards 1.6 BTC (16 left)
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on: November 06, 2013, 08:56:13 PM
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When the masses start pouring in, this is going over 1000, no doubt about it.
...and difficulty is going to plateau at or around 2 billion, or so a line of popular wisdom goes... The problem is, that sort of speculation is just that, speculation. There are no clear, solid facts to back up the assumptions people are making, but a lot of people are happy to grab onto them because they want them to be true. I've been doing a few, fairly basic, calculations based on those assumptions to see where even rosy assumptions leave us and basically what I've come to is this: If difficulty continues to rise at approximately 30% per difficulty change (an optimistically, but not impossibly, low rate) we'll be at 2 billion difficulty right around New Years. Without additional delays, and assuming what I will call the best-case scenario of 2.5gh/s per chip and a difficulty plateau, the price per BTC would have to go to about $635 for us to break even. Assuming the best-case speed scenario without a difficulty plateau, the price per BTC would have to go to just about $825 for us to break even. Assuming the pessimistic-case scenario of 2gh/s per chip, the price per BTC with difficulty plateau would have to be around $800, and without a plateau would have to be just over $1k. Obviously we're all hoping for 2.7gh/s per chip, or better, but even then the numbers aren't significantly better... unless the "to the moon!" price predictions pan out in the reasonably near future. Now, none of this is barntech's fault, and none of it makes me any less eager to get my hands on these boards and start mining away with them, but it does temper my enthusiasm somewhat and also makes one lesson abundantly clear: Whatever amount of coins you mine, hold onto them until the value rises significantly (assuming it does). It's the only way to make any kind of a profit. Don't assume more GH/s from driving a chip harder is better. I undervolt/underclock my 7970 GPU so it's only doing 490kH/s on scrypt coins, as that's the point where the best $ profit per day happens, the card is well capable of going over 700kH/s but using almost twice the power. The same goes for ASICs there is always a sweet spot. It's just when electricity eats only a small part of the running cost people tend not to care, but this quickly flips around to being the most important issue for long term ROI. That's why a lot of the big mining farms are going to be forced to close down, once you add 50% more electricity cost to cover aircon, and whatever additional data center costs like paying staff, their long term business model rapidly falls apart. |
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