btt

[BitCoiner2012]

creativex: Are you aware that you're next on the list of SEC?

Any data or just rumor around the campfire?

[AngelSky]

creativex: Are you aware that you're next on the list of SEC?

You're a bit *late* for the FEAR_OF_SEC_RUMOURS_NO_BRAIN.

[xhomerx10]

Thanks for the confidence guys, it's appreciated.

I'd like to get as much feedback as possible in order to reach a consensus on the direction we should take going forward as far as future hardware purchases go. I favor Bitfury gear due to their efficiency claims and ability to demonstrate progress in their development process. On the other hand I've seen little evidence to convince me that knc will be able to deliver products on their timeline. Does anybody disagree with my take on this and if so why? Also does anybody have any other suggestions as far as which vendor they feel is a better choice and if so why?

Avalon has said they were done with pre-orders and that they were developing 55nm? chips of their own for October delivery. Clearly their reputation has been tarnished, but what's everyone's take on the latest from Bitsyncom?

Also as far as criteria go for hardware selection, my own priorities are as follows:

1) Credibility - Can this vendor deliver what they claim and most importantly can they deliver it WHEN they claim. To date pre-order vendors have a 100% failure rate, though obviously some have failed more spectacularly than others.

2) Efficiency - Will this product be hashing long enough to at least break even in the face of continued network expansion? This obviously affects resale price of hardware as well.

3) Price point - I believe this is self explanatory.

Cheers.

 If you could purchase 100 block erupter sapphires for 35BTC today, that would give the fund another 33Gh/s (@250Watts).  The break even TODAY is about 85 days.  Say the network hash rate doubles in the fall, that would mean 170 days or if it triples, 255 days.  They sip power so running them longer isn't an issue.  I realize you would need good hubs which are ~$70US each for an aluminum 10 port USB 3 powered hub (aitech sells one through amazon for 69.99 - I believe the seller's name is computerExtension).  I know these work great for 10 usb miners.  Are you currently running a couple of 6770's and a couple of 7770's for bitcoin?  Even if we just purchase sufficient amounts of block erupters to replace those, we would be further ahead.  The usb hubs would com in handy for the next gen asics too I'm sure.  They have to release a little usb key for those if us who can't afford the big rigs!!

 I ordered 20 block erupter blades last wednesay and had them running by Friday evening before I left for work. I paid 5.99 BTC/10 and I saw just last night the price dropped to   4.19BTC/10 (free UPS express shipping until Aug 15th on 5BTC+ orders).  The miners were new and worked perfectly.  I'm hesitant to mention this seller as I see BTCGuild store is 1000 units shy right now!

 I'm just thinking in the short term to keep up our percentage of the network share while you formulate a long term plan.

 Thoughts anyone?

Take care

[JimiQ84]

Thanks for the confidence guys, it's appreciated.

I'd like to get as much feedback as possible in order to reach a consensus on the direction we should take going forward as far as future hardware purchases go. I favor Bitfury gear due to their efficiency claims and ability to demonstrate progress in their development process. On the other hand I've seen little evidence to convince me that knc will be able to deliver products on their timeline. Does anybody disagree with my take on this and if so why? Also does anybody have any other suggestions as far as which vendor they feel is a better choice and if so why?

Avalon has said they were done with pre-orders and that they were developing 55nm? chips of their own for October delivery. Clearly their reputation has been tarnished, but what's everyone's take on the latest from Bitsyncom?

Also as far as criteria go for hardware selection, my own priorities are as follows:

1) Credibility - Can this vendor deliver what they claim and most importantly can they deliver it WHEN they claim. To date pre-order vendors have a 100% failure rate, though obviously some have failed more spectacularly than others.

2) Efficiency - Will this product be hashing long enough to at least break even in the face of continued network expansion? This obviously affects resale price of hardware as well.

3) Price point - I believe this is self explanatory.

Cheers.

 If you could purchase 100 block erupter sapphires for 35BTC today, that would give the fund another 33Gh/s (@250Watts).  The break even TODAY is about 85 days.  Say the network hash rate doubles in the fall, that would mean 170 days or if it triples, 255 days.  They sip power so running them longer isn't an issue.  I realize you would need good hubs which are ~$70US each for an aluminum 10 port USB 3 powered hub (aitech sells one through amazon for 69.99 - I believe the seller's name is computerExtension).  I know these work great for 10 usb miners.  Are you currently running a couple of 6770's and a couple of 7770's for bitcoin?  Even if we just purchase sufficient amounts of block erupters to replace those, we would be further ahead.  The usb hubs would com in handy for the next gen asics too I'm sure.  They have to release a little usb key for those if us who can't afford the big rigs!!

 I ordered 20 block erupter blades last wednesay and had them running by Friday evening before I left for work. I paid 5.99 BTC/10 and I saw just last night the price dropped to   4.19BTC/10 (free UPS express shipping until Aug 15th on 5BTC+ orders).  The miners were new and worked perfectly.  I'm hesitant to mention this seller as I see BTCGuild store is 1000 units shy right now!

 I'm just thinking in the short term to keep up our percentage of the network share while you formulate a long term plan.

 Thoughts anyone?

Take care

Hashrate rises at least 50% a month. So it triples in only 4 months. It's really long run to make USB miners profitable. Blades are more profitable - 10.25BTC/13GH/s, no USB hubs needed.

[creativex]

Agreed. Blades are a bunch less hassle and I'm not even crazy about the idea of running a bunch of 10Gh/s devices, plus I don't believe they'll hold their value as well as BFL gear will given their higher power consumption.

I have bids in for a few different auctions.

Cheers.

[xhomerx10]

Agreed. Blades are a bunch less hassle and I'm not even crazy about the idea of running a bunch of 10Gh/s devices, plus I don't believe they'll hold their value as well as BFL gear will given their higher power consumption.

I have bids in for a few different auctions.

Cheers.

   BFL stuff is the way to go if you can get it at a decent price!

Take care

[JimiQ84]

Agreed. Blades are a bunch less hassle and I'm not even crazy about the idea of running a bunch of 10Gh/s devices, plus I don't believe they'll hold their value as well as BFL gear will given their higher power consumption.

I have bids in for a few different auctions.

Cheers.

   BFL stuff is the way to go if you can get it at a decent price!

Take care

Yeah, let's get few more minirigs and than off to BitFury or KnC

[creativex]

Somehow I doubt "a few minirigs" will be available at a price that makes sense, but I'll stop by the minirig store later and take a peek.

I'd take a couple Avalons if the price was low enough...they're an admins dream to manage and we're not going to find cheaper hashes than that given their overclocking potential.

Cheers.

[demzie]

https://bitcointalk.org/index.php?topic=268703.0;topicseen

Maybe? He dropped prices.

[creativex]

That's not bad, thanks for the heads up. I have something a bit better in the works, but if it falls through then maybe.

Cheers.

[MilkyLep]

https://bitcointalk.org/index.php?topic=268703.0;topicseen

Maybe? He dropped prices.

Assuming difficulty is 50mil by arrival, it looks like all 3 hashing at 80gh/s each would only net a little over 70BTC a month. Not too sure how profitable those machines will be much longer especially with such dramatic rises in diff.

[creativex]

I think we have a very small window here where Avalons that are purchased cheaply and can be hashing for us very quickly will be able to pay for themselves and yield a modest profit. I'm thinking under .7BTC/Gh is a reasonable price to pay at this point.

Cheers.  

[AngelSky]

I think we have a very small window here where Avalons that are purchased cheaply and can be hashing for us very quickly will be able to pay for themselves and yield a modest profit. I'm thinking under .7BTC/Gh is a reasonable price to pay at this point.

Cheers.  

Always good to see you @ work

[demzie]

@creativex

Does BASIC-MINING have pre-orders open at the moment or something comming?

[creativex]

@creativex

Does BASIC-MINING have pre-orders open at the moment or something comming?

Hi demzie. Funny you should ask...

bASIC-Mining management remains unimpressed with the history of pre-ordered ASIC mining hardware and isn't likely to invest company funds in products/vendors that cannot provide concrete proof that they're able to meet claimed specifications or delivery schedules. With the number of hardware vendors increasing management feels that the cost of selecting the wrong vendor could be very costly.  

Management will instead focus it's efforts on obtaining select ASIC mining hardware at prices deemed to be favorable to shareholder interests until such time as a clear hardware vendor choice emerges.

Cheers.      

[creativex]

**NEWS ITEM ADDED**

bASIC-Mining Increases Hashrate

bASIC-Mining is pleased to announce the further expansion of it's ASIC mining inventory. Two additional Avalon batch 3 rigs, each with 4 hashing modules have been obtained. This addition is expected to bring bASIC-Mining's total hashrate up to approximately 1,210,000Mh/s. The new hardware is currently being configured and will be available to add to mining revenue as early as tomorrow, Wednesday August 14.

Management remains committed to a policy of strong growth and careful hardware selection in this rapidly expanding Bitcoin network environment. The company's active hardware assets consist of the following:  

(1) BFL Minirig SC

(4) BFL Single SCs

(3) Avalon 4 module rigs

(3) Avalon 3 module rigs

(2) Radeon HD 6770 GPUs

(2) Radeon HD 7770 GPUs

Cheers,

CreativeX

https://btct.co/security/BASIC-MINING

[AngelSky]

**NEWS ITEM ADDED**

bASIC-Mining Increases Hashrate

bASIC-Mining is pleased to announce the further expansion of it's ASIC mining inventory. Two additional Avalon batch 3 rigs, each with 4 hashing modules have been obtained. This addition is expected to bring bASIC-Mining's total hashrate up to approximately 1,210,000Mh/s. The new hardware is currently being configured and will be available to add to mining revenue as early as tomorrow, Wednesday August 14.

Management remains committed to a policy of strong growth and careful hardware selection in this rapidly expanding Bitcoin network environment. The company's active hardware assets consist of the following:  

(1) BFL Minirig SC

(4) BFL Single SCs

(3) Avalon 4 module rigs

(3) Avalon 3 module rigs

(2) Radeon HD 6770 GPUs

(2) Radeon HD 7770 GPUs

Cheers,

CreativeX

https://btct.co/security/BASIC-MINING

good job

[creativex]

**NEWS ITEM ADDED**

bASIC-Mining Increases Hashrate

bASIC-Mining is pleased to announce the further expansion of it's ASIC mining inventory. Two additional Avalon batch 3 rigs, each with 4 hashing modules have been obtained. This addition is expected to bring bASIC-Mining's total hashrate up to approximately 1,210,000Mh/s. The new hardware is currently being configured and will be available to add to mining revenue as early as tomorrow, Wednesday August 14.

Management remains committed to a policy of strong growth and careful hardware selection in this rapidly expanding Bitcoin network environment. The company's active hardware assets consist of the following:  

(1) BFL Minirig SC

(4) BFL Single SCs

(3) Avalon 4 module rigs

(3) Avalon 3 module rigs

(2) Radeon HD 6770 GPUs

(2) Radeon HD 7770 GPUs

Cheers,

CreativeX

https://btct.co/security/BASIC-MINING

good job

TY...I'm going to sleep now.

Cheers.

[xhomerx10]

 Well-planned and well-executed!  Hopefully we'll see bASIC-mining crack the Fortune 500 by 4th quarter 2013

[demzie]

Great