[PicoStocks] 100TH/s bitcoin mine [100th]

[Eric Muyser]

Code:

Chip packaging delay 
The packaging facility will ship the chips on 2013-06-10. We have 2 weeks delay :-( 
Created on 2013-06-04 15:44:00 by Leszek Rychlewski; Published on 2013-06-04 15:45:33 by koji; 

 

Ouch... What does this mean for the Bitbet thing from Bitfury? Is it even possible that the bet can still be Yes? From what I read, only the public demo must be announced two weeks in advance, but a private confirmation can come at any time, so perhaps there is still hope for Yes-betters?

.b

It ships on the 10th. He has 5 days to receive it and test it. Seems like he only expected 1 day to test it before the delay. 4 day shipping, go go go.

[furuknap]

It ships on the 10th. He has 5 days to receive it and test it. Seems like he only expected 1 day to test it before the delay. 4 day shipping, go go go.

In terms of the bet, he has one day to test it and get an independent and respected community member to review. That might be cutting it awefully close...

I'm not a gambling man, but I'm not sure I would bet that he makes it.

.b

[RichG]

Instead of using USD, can I purchase shares with BTC instead?

[iCEBREAKER]

Instead of using USD, can I purchase shares with BTC instead?

In before

[kaerf]

Instead of using USD, can I purchase shares with BTC instead?

You must be new here

[Eric Muyser]

It ships on the 10th. He has 5 days to receive it and test it. Seems like he only expected 1 day to test it before the delay. 4 day shipping, go go go.

In terms of the bet, he has one day to test it and get an independent and respected community member to review. That might be cutting it awefully close...

I'm not a gambling man, but I'm not sure I would bet that he makes it.

.b

If you're in Bitcoin and these securities, you are absolutely a gambling man

I agree. I'm not sure either, and who knows how he'll get judged on the terms.

[furuknap]

If you're in Bitcoin and these securities, you are absolutely a gambling man

Unlike what most people think, investing in Bitcoin is no different than investing in other currencies. Risks can be mitigated just like they can in regular markets. You can earn money going up and going down.

There's no gambling involved, unless you're ignorant, in which case you can probably just give your money away so at least it will be quick if not less painful.

.b

[Eric Muyser]

If you're in Bitcoin and these securities, you are absolutely a gambling man

Unlike what most people think, investing in Bitcoin is no different than investing in other currencies. Risks can be mitigated just like they can in regular markets. You can earn money going up and going down.

There's no gambling involved, unless you're ignorant, in which case you can probably just give your money away so at least it will be quick if not less painful.

.b

I agree in part. You're at least making it a big part of your life, or it's a gamble. You know, checking it all the time, alarms, etc. I ride it up and down, but I still think that's a gamble because everybody has to sleep. I don't think my price alarm will wake me up, and if, god forbid, it tanks while I'm sleeping, I'll be down a large sum for a hopefully not so long haul back up. I take the gamble happily. You don't make money while BTC is going down though unfortunately; where are you shorting? OTC options? I haven't tried that yet. You're doing that furuknap? You can short the stocks at least...

You're right in part but I think you know BTC moves a bit quicker than other currencies, and thus requires more upkeep. Good if it's your day job.

[furuknap]

stuff

So it was ignorance...

Sorry to hear that.

.b

[kaerf]

I think he meant 100k. He doubts 100TH will mine 100K coins per month due to competition (increased hashing power from others).

I doubt the diff will be so low by july. Simply by putting the 100TH mine online will cause difficulty to shoot up.

However...IF the diff is really that low and 100TH manages to meet its timelines, then 100TH needs to think about limiting how much hashing power comes online in case the mine gets too close to 50% total network speed. Not sure if ASICMINER is purposefully limiting their hash rate to below 30% or if they're just having deployment issues, but tytus et al should probably choose a safe operating percentage.

I hope that's the case!

100k coins per month would be impossible anyways... One block is solved every 10 minutes so 25x6x24 =3,600 bitcoins mined per day and 108,000 bitcoins per month. I think the best case scenario is that the project launches without any delays and and the total hash rate raises to 240 TH, meaning that the 100TH project would have 103 TH / 240 TH = 42.9% of the total hash rate and would generate approximately 46,332 bitcoins per month. I don't expect 100 TH to have that high a percentage of the network though.

Oops good point. I'm not sure about my interpretation then.

Your 240TH is "close" to my projections...I'm thinking possibly up to ~275-280TH (I'm probably giving BFL too much credit) with only a 50TH rollout from 100TH. ASICMINER had problems rolling out even 20TH. However, given Bitfury's 3.3GH/W chip, the power requirements for this mine are significantly less than that of AM and 100TH might have a much easier time rolling out the full hashing rate.

The recent diff jump and projected NextDiff come out to be right in line with what I was expecting for June.

Optimistically, I was hoping 100TH would come on line at ~21M diff (150TH), but am planning/projecting closer to ~38M diff (275TH). IF 100TH can manage to deploy ~21M diff, I expect the return to be around 0.55 per share (yes, with a large margin of error).

Either way 100TH is still going to bring a nice return (hopefully there won't be many more delays to push the deployment date out).

[auto2nr1]

I just registered for PicoStocks and would like to buy shares for 100TH. I have yet to fund my account and will do so later tonight but how am i able to  buy shares? When i log into my bitfunder account i can add qty and shares i want to purchase at a certain value. I don't see that on PicoStock. Any help or insight would be appreciated. Thanks.

[ChronoX5]

I just registered for PicoStocks and would like to buy shares for 100TH. I have yet to fund my account and will do so later tonight but how am i able to  buy shares? When i log into my bitfunder account i can add qty and shares i want to purchase at a certain value. I don't see that on PicoStock. Any help or insight would be appreciated. Thanks.

Click on assets, then on 100th and if you are logged in there will be large buy and sell buttons in the upper right corner.

[auto2nr1]

I just registered for PicoStocks and would like to buy shares for 100TH. I have yet to fund my account and will do so later tonight but how am i able to  buy shares? When i log into my bitfunder account i can add qty and shares i want to purchase at a certain value. I don't see that on PicoStock. Any help or insight would be appreciated. Thanks.

Click on assets, then on 100th and if you are logged in there will be large buy and sell buttons in the upper right corner.

Thanks for the heads up. I don't see it when i log in but i will fund my account later on and then i will see if it shows up then.

[Mabsark]

I just registered for PicoStocks and would like to buy shares for 100TH. I have yet to fund my account and will do so later tonight but how am i able to  buy shares? When i log into my bitfunder account i can add qty and shares i want to purchase at a certain value. I don't see that on PicoStock. Any help or insight would be appreciated. Thanks.

Click on assets, then on 100th and if you are logged in there will be large buy and sell buttons in the upper right corner.

Thanks for the heads up. I don't see it when i log in but i will fund my account later on and then i will see if it shows up then.

I was wondering the same thing. They only showed up once I had added funds to my account.

[buzzdave]

I found that ctrl+wheel mouse zooms the screen so that you can see the Buy/Sell (upper right hand corner).  Or scroll the horizontal bar to the right, while at the top of the page.

[gebir]

Dave, MegaBigPower is ready? Security, links ...

[buzzdave]

Dave, MegaBigPower is ready? Security, links ...

We are getting there.  A lot of work has been done but there is still a lot to do.  We will be ready for 100TH - I'm excited!  I'll provide more details as we get a little closer and have some pretty pictures to share...

[Dexter770221]

I'll provide more details as we get a little closer and have some pretty pictures to share...

That would be really great !
100TH pr0n

[buzzdave]

I live in WA state, and I am also a shareholder. Is there ever a chance for the public to see the mining equipment in action? I just think it’s so cool that a place called “The Buckle of the Power Belt of the Great Northwest” is going to be minting many new bitcoins right in my backyard, and all by the might of water and gravity!

Discovering that the equipment was going to be hosted here was a big reason I invested actually.

I'll be ok with some pretty pictures / video if that's all there can be.

Especially with the giant Tesla coil I'm gonna have

We'll see what we can support.  Right now the security of the actual physical location(s) is very important. 

[kaerf]

FYI for those that didn't see: https://bitcointalk.org/index.php?topic=228677.0
Bitfury is looking for alpha testers for independent verification of chips.