[2014-12-01] CD: Spondoolies-Tech CEO Talks New ASICs and a 'Blockchain Lottery'

[LiteCoinGuy]

Spondoolies-Tech CEO Talks New ASICs and a 'Blockchain Lottery' Device

Over the weekend, CoinDesk caught up with Spondoolies-Tech CEO Guy Corem to discuss development of the firm's third- and fourth-generation ASIC bitcoin mining chips.

http://www.coindesk.com/spondoolies-tech-ceo-talks-new-asics-blockchain-lottery-device/

[BitDreams]

Possible complementary hardware solutions for designated proof of stake?

"The Dice can be used as an entry-level miner, but that's not what it's all about. Installing custom software allows the Dice to act as a blockchain lottery device, giving the user a 150/300,000,000 chance to win 25 BTC every 10 minutes."

[cr1776]

Possible complementary hardware solutions for designated proof of stake?

"The Dice can be used as an entry-level miner, but that's not what it's all about. Installing custom software allows the Dice to act as a blockchain lottery device, giving the user a 150/300,000,000 chance to win 25 BTC every 10 minutes."

So they market it as a "lottery" and are essentially solo mining.   

[BitDreams]

heh, i fell for that, reading more than what is there

[msb17]

a 150/300,000,000 chance to win 25 BTC "

Well at this chance it pretty much is about as good an investment as investing in the lottery.

Feels to me that at least they are calling it what it is, lottery and not a serious investment.

[lyth0s]

With no difficulty increase you'd expect to solve a block once every 38 years with that "Dice ASIC".