TurMine Accel. Project - Need Multiple Investors/Financiers to Begin Next Week

[shoopwooper]

Now then, as far as monetizing such a client, I don't see it as possible to regain the $850 from casual GPU miners and experimenters only.  ASIC support will have to be included in the software, and if it is truly a step above everything else that is available for free, it should be cake to monetize at that point.  What ASIC miner WOULDN'T pay, say, $10 to gain an extra 2% efficiency?  At least initially, when difficulty is still relatively low?

The miner program doesn't contribute that much of a difference.  With GPU mining it is important to make a distinction between the mining client (minimal impact on performance) and the OpenCL kernel.  The days of 2% gains in the OpenCL kernel are long gone.   The code has been highly optimized and IIRC the most recent major change was something on the order of 0.1% performance increase.  The client itself has never been the performance bottleneck. 

With ASICs (and FPGA) the OpenCL kernel is replaced by the chip itself.  The client is just about management and reporting.   Further I would point out the OP isn't claiming any type of performance increase.

Correct.  We're focusing on end-user experience, which is why we're redeveloping the client, not the OpenCL kernel.  Like i've been saying, our hope is that this program will get beginners/general public more involved in Bitcoin.

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[SgtSpike]

Now then, as far as monetizing such a client, I don't see it as possible to regain the $850 from casual GPU miners and experimenters only.  ASIC support will have to be included in the software, and if it is truly a step above everything else that is available for free, it should be cake to monetize at that point.  What ASIC miner WOULDN'T pay, say, $10 to gain an extra 2% efficiency?  At least initially, when difficulty is still relatively low?

The miner program doesn't contribute that much of a difference.  With GPU mining it is important to make a distinction between the mining client (minimal impact on performance) and the OpenCL kernel.  The days of 2% gains in the OpenCL kernel are long gone.   The code has been highly optimized and IIRC the most recent major change was something on the order of 0.1% performance increase.  The client itself has never been the performance bottleneck. 

With ASICs (and FPGA) the OpenCL kernel is replaced by the chip itself.  The client is just about management and reporting.   Further I would point out the OP isn't claiming any type of performance increase.

Correct.  We're focusing on end-user experience, which is why we're redeveloping the client, not the OpenCL kernel.  Like i've been saying, our hope is that this program will get beginners/general public more involved in Bitcoin.

Ah, ok.

How do you expect to be able to monetize this program?

[shoopwooper]

Ah, ok.

How do you expect to be able to monetize this program?

We were sitting around the whiteboard last night discussing potential options for monetization, given the parameters and characteristics of the program.  We're trying to take a multi-step approach to it.

1. Ad revenue on the host site and potential sponsorships/partnerships with larger companies.

2. Skimming (1-2-3% of all generated coins)

3. Donations

Our biggest obstacle right now is just getting funded. Paying back the loaned funds is a non-issue because it just involves saving our receipts and returning computers when development ends.  We're not out to try to make millions with this, but we do this we stand to generate a bit of income. We just want to get A's, create the best mining client out there, introduce people to Bitcoin and how it works, and thank those who support us by giving them a little extra something back. As far as i'm concerned, everyone wins.

[phantastisch]

Why are 12 computer science students raising some funding for two Laptops? Would a build machine (and a collaboration server) not make more sense? If no build is needed , then i do not see the need for even one dedicated laptop. this will probably be a huge organisation mess. ( who keeps it, what happens on it , who had it last time, who installed that virus? ) you guys even have a mining rig,come on.

just program away, you don't need any money... no obstacles here.

[shoopwooper]

Why are 12 computer science students raising some funding for two Laptops? Would a build machine (and a collaboration server) not make more sense? If no build is needed , then i do not see the need for even one dedicated laptop. this will probably be a huge organisation mess. ( who keeps it, what happens on it , who had it last time, who installed that virus? ) you guys even have a mining rig,come on.

just program away, you don't need any money... no obstacles here.

It's part of the assignment.  Our team has to solicit and receive funding from an outside party or group of individuals.  We thought approaching the Bitcoin community itself would be a win-win for all involved; funders get interest paid on their loans, and we fulfill the requirement.

We figured using two project-dedicated laptops would be the best route, seeing as we can just return them back to BestBuy at the end of development and redistribute the loaned money (with interest of course!).  It's easy for both parties and extremely low risk; I don't foresee BestBuy going out of business within the next month or two. 

We're trying to highlight the benefits of Bitcoin in our presentation at the end, and receiving individual loans for a group-source project is the best way to really drive home the point that Bitcoin and online currencies in general offer incredible benefits. 

[Vod]

It's part of the assignment.  Our team has to solicit and receive funding from an outside party or group of individuals.  We thought approaching the Bitcoin community itself would be a win-win for all involved; funders get interest paid on their loans, and we fulfill the requirement.

Would you be willing to provide the professors .edu email and name, as well as the course name?  This will confirm your story and make it much more likely someone will lend to you, since they can contact your school if you don't pay the loan back.

[shoopwooper]

It's part of the assignment.  Our team has to solicit and receive funding from an outside party or group of individuals.  We thought approaching the Bitcoin community itself would be a win-win for all involved; funders get interest paid on their loans, and we fulfill the requirement.

Would you be willing to provide the professors .edu email and name, as well as the course name?  This will confirm your story and make it much more likely someone will lend to you, since they can contact your school if you don't pay the loan back.

We've been divulging that information after speaking with potential investors privately.  We're only 20 Bitcoins short of our goal of 70 at this point.

[Vod]

It's part of the assignment.  Our team has to solicit and receive funding from an outside party or group of individuals.  We thought approaching the Bitcoin community itself would be a win-win for all involved; funders get interest paid on their loans, and we fulfill the requirement.

Would you be willing to provide the professors .edu email and name, as well as the course name?  This will confirm your story and make it much more likely someone will lend to you, since they can contact your school if you don't pay the loan back.

We've been divulging that information after speaking with potential investors privately.  We're only 20 Bitcoins short of our goal of 70 at this point.

Can anyone confirm this?

[smracer]

I would be very skeptical at this point.  That is one of the oldest scams in the book.  Claiming you already have X amount of investors and you just need a little more for the final push. 

[Vod]

I would be very skeptical at this point.  That is one of the oldest scams in the book.  Claiming you already have X amount of investors and you just need a little more for the final push. 

That will be pretty obvious if no one credible steps forward to confirm they have invested and have an .edu email.

[shoopwooper]

Believe it or not, we no longer need loans. Our low-end goal was 60, but we're sticking at BTC53.282 which is comprised of donations AND micro-loans. 

I'm not entirely sure of what you're skeptical of, but the loans were actually sourced from 3 main funders.  All loans and donations are on the books and will be reported when the program is published.  We also applied for a grant to help fund the project, so we're good to go at this point. 

Development begins Thursday!

[smracer]

I was born at night but not last night.

[shoopwooper]

I was born at night but not last night.

I don't know what to tell you.  We were just trying to get some funding, not rip anyone off.