btt

[creativex]

Right, + bitfury for October, possibly avalon G2 for October, hashfast, cointerra, etc...

This has the potential to get ugly in Q4. Rather than risk capital on gear that could be rendered unprofitable within just a few months, we should instead focus our efforts on obtaining hardware that will be hashing long after G1 products are kicked off the blockchain. 25.5 sounds reasonable, but it's .307/Gh of G1 equipment. Bitfury for October delivery is .156/Gh right this second and has an efficiency that will see it hashing even after knc gear is unplugged.

Though the avalon for 25.5 would be hashing for us sooner than the same BTC applied to an additional bitfury order, it still doesn't make sense as our risk of never seeing a positive ROI is far higher with the avalon purchase. Just a few weeks ago this equation would've been completely different.

Cheers.

[1713919869]

1713919869

[AngelSky]

You sold your LC shares @ what price ?

[creativex]

Hi Angelsky. I liquidated our labcoin position @ .002514. Management appears to have gone from overly optimistic to outright deceitful. No reason to hold if you can't trust their reports. We have a loss of roughly 4BTC precisely 3.97125 on the position. I apologize to shareholders, to my mind the potential rewards outweighed the risks until it became clear that labcoin management was not acting in good faith.

Cheers.

[AngelSky]

Hi Angelsky. I liquidated our labcoin position @ .002514. Management appears to have gone from overly optimistic to outright deceitful. No reason to hold if you can't trust their reports. We have a loss of roughly 4BTC precisely 3.97125 on the position. I apologize to shareholders, to my mind the potential rewards outweighed the risks until it became clear that labcoin management was not acting in good faith.

Cheers.

Good decision. Thanks for your transparency. 0.002514 was not that bad after all 

[JimiQ84]

Creativex, just in case you missed it, burnin's own bitfury design - https://bitcointalk.org/index.php?topic=294735.0

it looks like price is even better than bitfury original. Of course it depends on when bitfury will ship the chips

[BitCoiner2012]

What was the IPO price of BASIC? Considering any and all splits?

[guitarplinker]

Well it looks like Labcoin might be mining: http://blockchain.info/address/1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Someone posted this address in the main thread and that's about the output that 2TH/s should be doing. Not sure what the chances are that it is Labcoin though, because someone said its out of Chicago, and Labcoin isn't located there.

[AngelSky]

What was the IPO price of BASIC? Considering any and all splits?

0.33 before the 1:10 split. It means 0.033 now.

[creativex]

Creativex, just in case you missed it, burnin's own bitfury design - https://bitcointalk.org/index.php?topic=294735.0

it looks like price is even better than bitfury original. Of course it depends on when bitfury will ship the chips

Thanks JimiQ84, I have kept up on burnin's progress and even sent proposals to him. He did not respond. CryptX is not the least bit trustworthy IMO, an opinion I've formulated based upon his dealings with his own shareholders. There are serious questions as to whether burnin will be able to produce this product in a timely fashion and now he's outsourced sales to a questionable vendor. We're better off dealing with bitfury US.

Cheers.

[creativex]

Well it looks like Labcoin might be mining: http://blockchain.info/address/1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Someone posted this address in the main thread and that's about the output that 2TH/s should be doing. Not sure what the chances are that it is Labcoin though, because someone said its out of Chicago, and Labcoin isn't located there.

Hi guitarplinker. If labcoin or TheSwede75 didn't post the address or confirm that it's theirs then there's no reason to invest based upon the submitted address. Labcoin is playing games and stalling for a reason. Their credibility is shot, their website still has not been updated beyond 180nm chip talk. The last posts I read were from labcoin and he was talking about holding on for results until Halloween. There's no reason to invest until they regain some credibility.

Cheers.

[guitarplinker]

Well it looks like Labcoin might be mining: http://blockchain.info/address/1NBDEAYH49tZvFMJ95oa4kYrqgecgnc16C

Someone posted this address in the main thread and that's about the output that 2TH/s should be doing. Not sure what the chances are that it is Labcoin though, because someone said its out of Chicago, and Labcoin isn't located there.

Hi guitarplinker. If labcoin or TheSwede75 didn't post the address or confirm that it's theirs then there's no reason to invest based upon the submitted address. Labcoin is playing games and stalling for a reason. Their credibility is shot, their website still has not been updated beyond 180nm chip talk. The last posts I read were from labcoin and he was talking about holding on for results until Halloween. There's no reason to invest until they regain some credibility.

Cheers.

That's all very true. Although that address did make the price go up a little bit, not very much though.

I guess I'm spreading the good news I can find around it to make myself a bit more positive that the 40 cents I invested in them isn't completely gone and it isn't 100% confirmed a scam yet/ 

[creativex]

The chances that labcoin is a "scam" is near zero IMO, but they're not being transparent and their last posts make some of their previous posts borderline lies. When you say "We're hashing at 2Th" and then later say you're having trouble tweaking miners and you hope things are way awesome in late October...well...this seems like management speak for "SELL! SELL!". At any rate their credibility is non-existent at this point so there's no reason to hold. They also said there'd be a doubling of hashpower to 4Th/s by tomorrow, but they've since ignored every question about what their current hashrate is. This after their projections went from 6 to 3-4 to 2 to unknown. No idea what's really going on because we're getting conflicting reports while we're being given reasons to doubt their every word.

Cheers.

[creativex]

Creativex, just in case you missed it, burnin's own bitfury design - https://bitcointalk.org/index.php?topic=294735.0

it looks like price is even better than bitfury original. Of course it depends on when bitfury will ship the chips

Promise:

Out of necessity a new thread for a new product:
I want to test the waters if you would be interested in such a board

The Bitfury design i am working on is a 16 Chip board with the same form factor as the BitBurner.
I think it makes sense that i will sell boards including the chips now - no more group buys.

Best demonstrated performance per chip is currently 2.7Ghash resulting in 42ghash/s per board.
I am aiming for 5 Ghash per chip, i will be doing things differently then the competition which will hopefully
allow us to squeeze more performance out of this silicon.
Host interface and Controller / stacking will stay the same.

Price: ~470eur+vat (Complete module including chips)
Delivery: early October if Punin delivers on time.

Reality w/ CryptX involved:

Price: ~470eur+vat (Complete module including chips)
Delivery: early October if Punin delivers on time.

Site is online and price with shipping (to germany) and VAT is 895.40€ - are you kidding me?



Not interested.

Burnin might as well not waste his time on this product at that price point. Though we wouldn't have to pay VAT, shipping to the US would be costly both in absolute terms and in mining revenue lost while the gear was in transit.

Cheers.

[BitCoiner2012]

What is the next planned deployment of hash power for BASIC, if I might ask anyone privy?

[VolanicEruptor]

What is the next planned deployment of hash power for BASIC, if I might ask anyone privy?

[creativex]

What is the next planned deployment of hash power for BASIC, if I might ask anyone privy?

Hi BitCoiner2012. Everyone is privy to this information. It was posted on this thread, at btct.co(news), on our spreadsheet, and on basic-mining.com.

**NEWS ITEM**

bASIC-Mining taps Bitfury US for 800Gh/s

bASIC-Mining is pleased to announce the purchase of it's first generation 2 ASIC mining hardware. An order for 800Gh/s has been placed with Bitfury US for October delivery. Bitfury's impressive performance both in producing and delivering what is now the market's leading equipment made this an easy decision. Upon receipt of this equipment bASIC-Mining's hashrate will rise to approximately 2,235,000Mh/s.

Additional information about this purchase as well as all of bASIC-Mining's current hardware will be made available at http://www.basic-mining.com

Cheers.

CreativeX

https://bitcointalk.org/index.php?topic=130982.msg3075722#msg3075722

[freedomno1]

Right, + bitfury for October, possibly avalon G2 for October, hashfast, cointerra, etc...

This has the potential to get ugly in Q4. Rather than risk capital on gear that could be rendered unprofitable within just a few months, we should instead focus our efforts on obtaining hardware that will be hashing long after G1 products are kicked off the blockchain. 25.5 sounds reasonable, but it's .307/Gh of G1 equipment. Bitfury for October delivery is .156/Gh right this second and has an efficiency that will see it hashing even after knc gear is unplugged.

Though the avalon for 25.5 would be hashing for us sooner than the same BTC applied to an additional bitfury order, it still doesn't make sense as our risk of never seeing a positive ROI is far higher with the avalon purchase. Just a few weeks ago this equation would've been completely different.

Cheers.

Holding is a wise decision in an environment like this, until we have proper calculations on what is delivering who is delivering and how much they are delivering any investment in current generation products is a risk.
And woot to the bitcoin network hitting 1 Petahash now its easy to calculate network percentages in Terrahashes for a while  
1.435% going up to 2.235%
http://blog.standardcrypto.com/2013/09/15/what-does-one-petahash-look-like/
http://thegenesisblock.com/bitcoin-network-reaches-1-petahash-per-second/

@ Labcoin well it might be a zero sum or non-zero sum game really hard to tell wait till Wednesday I guess

[mutex]

And woot to the bitcoin network hitting 1 Petahash now its easy to calculate network percentages in Terrahashes for a while  
1.435% going up to 2.235%

You are one order of magnitude off, it's 0.1435% going up to 0.2235%

[mutex]

creativex,

Do you have any plans (and funds) for further mining purchases, something beyond bitfuries?

A 55% increase in hashing power (800 GH/s) for the whole month of October doesn't look quite adequate considering the ongoing difficulty surge. Should we maybe sacrifice dividends in short term to secure more mining equipment (28nm, preferably)?

[JimiQ84]

creativex,

Do you have any plans (and funds) for further mining purchases, something beyond bitfuries?

A 55% increase in hashing power (800 GH/s) for the whole month of October doesn't look quite adequate considering the ongoing difficulty surge. Should we maybe sacrifice dividends in short term to secure more mining equipment (28nm, preferably)?

I know I am not creativex, but I'll answer anyway. If you look at the official spreadsheet - https://docs.google.com/spreadsheet/ccc?key=0ArTS7AD--9SWdDNfb0lRNElqS1k1eGRoWEw2TGM4NlE#gid=0
you'll see we have 703 BTCs at our disposal for new purchases. creativex has wisely chosen strategy to wait out price war and order the cheapest and most efficient hardware possible. Bitfuries are just a tip of iceberg.