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

[TheSwede75]

When i read your post i think this will cause a delay for some days maybe a week. When i read the statement on picostocks i read a delay for a full month?
Which is the case?

The cause is that he's a lying piece of shit.

Dave,

As much as this is bad news, I appreciate the notification to the market.

Appreciate the part where he ignores all of you for a while but answers within hours of my post.

I like the part where you run a mock-exchange and bash all other projects because you have sand in your vagina.

"THE BTC stock exchange" you have got to be smoking crack.

[Andrey]

Tytus, do you know this site https://ghash.io/ ? Who is sending ghashes there?

I have found an answer in Russian metabank.ru thread. It is bitfury himself. Those are his personal ghashes.

[jborkl]

I must be really confused here .

yesterday that private pool was 12 th - today it is 22 th

The board is a fail?

I am sure I am missing a part of the story here

[Andrey]

I must be really confused here .

yesterday that private pool was 12 th - today it is 22 th

The board is a fail?

I am sure I am missing a part of the story here

bitfury has his share of chips, and he is doing his own assembly, separate from 100Th.

[jborkl]

Ah, I see fair enough then

Thanks for the info

[MPOE-PR]

I like the part where you run a mock-exchange and bash all other projects because you have sand in your vagina.

"THE BTC stock exchange" you have got to be smoking crack.

Give yourself a little time. After you cross the one year mark you start seeing things differently.

Provided, of course, you do ever get to be that old.

Here's a hint: MPEx is older than Bitcoinica. It saw Pirate rise and fall. It saw GLBSE go to shit. It saw MtGox die. All these things seemed like hot shit to Bitcoin's mayflies.

It's not just that it's older than you, or that it'll survive you, it's a lot more than that. Things you can't even imagine.

[julz]

I like the part where you run a mock-exchange and bash all other projects because you have sand in your vagina.

"THE BTC stock exchange" you have got to be smoking crack.

Give yourself a little time. After you cross the one year mark you start seeing things differently.

Provided, of course, you do ever get to be that old.

Here's a hint: MPEx is older than Bitcoinica. It saw Pirate rise and fall. It saw GLBSE go to shit. It saw MtGox die. All these things seemed like hot shit to Bitcoin's mayflies.

It's not just that it's older than you, or that it'll survive you, it's a lot more than that. Things you can't even imagine.

MPEx seems like the sort of project where the operator assumes technical competence and decent architecture is self-evident and will wow the marketplace, and then proceeds to vigorously blame people for their failure to appreciate the system - when it's more a case of the operator failing to understand (or give a rats arse about) people.
Hint: Your model will work nicely when autonomous software agents are starting Bitcoin businesses and need to IPO.

[TheSwede75]

I like the part where you run a mock-exchange and bash all other projects because you have sand in your vagina.

"THE BTC stock exchange" you have got to be smoking crack.

Give yourself a little time. After you cross the one year mark you start seeing things differently.

Provided, of course, you do ever get to be that old.

Here's a hint: MPEx is older than Bitcoinica. It saw Pirate rise and fall. It saw GLBSE go to shit. It saw MtGox die. All these things seemed like hot shit to Bitcoin's mayflies.

It's not just that it's older than you, or that it'll survive you, it's a lot more than that. Things you can't even imagine.

I assume the clear technical advantage and communication skills that you obviously possess is the reason that Mpex has about the volume of a mid sized pizza parlor.

[canth]

I assume the clear technical advantage and communication skills that you obviously possess is the reason that Mpex has about the volume of a mid sized pizza parlor.

... and with the customer service of the soup nazi.

[Kuroth]

Watching this one..

[SebastianJu]

Am i seeing this right? This is another security that wants to develop their own asic and mine themself with it? They own the design at the end right?

The first post states one month so it looks like its delayed.

Does the security issuer have a past with other projects so one could judge a bit from that?

[RHA]

Sebastian, search for a name "Bitfury".

[SebastianJu]

Sebastian, search for a name "Bitfury".

So they use bitfury chips? That would mean its not their own design which would diminish advantages in price nearly to that base every other miner is working on.

[vs3]

Sebastian, search for a name "Bitfury".

So they use bitfury chips? That would mean its not their own design which would diminish advantages in price nearly to that base every other miner is working on.

Sebastian - the history of the project and who's who is in the PDF:

Business plan: http://picostocks.com/businessplan/19

The whole bitfury project may have remained somewhat in the shadows had it not been for a bet ... see this.

[TheSwede75]

Sebastian, search for a name "Bitfury".

So they use bitfury chips? That would mean its not their own design which would diminish advantages in price nearly to that base every other miner is working on.

They are using the Cscape board design and Bitfury chips, but as I understand at VERY reduced prices as they are reference designers and first chip buyers.

[Dexter770221]

Short story version:
Tytus (Leszek) had an idea. He talked to bitfury and ask him to design a chip. Then collected money (thru 100TH mine IPO and some private funds). While bitfury was busy with designing, Tytus was busy talking with semiconductors vendors and other people capable with electronics engeneering. This cooperative was succesful and they have working chips (and whole miners) but due to errors in mass production of PCB (caused by manufacturing company) there is delay of deploying hardware to 100TH mine. Tytus is very honorable man and he knows that this delays are causing losses to investors so he decides to throw another 100TH to mine (total will be 200TH). Loosing his own private money (well I'm suspecting that he will just quit profits from first batches of chips sales).
It's all my speculations based on half a year of tracking info

[Pale Phoenix]

MPEx seems like the sort of project where the operator assumes technical competence and decent architecture is self-evident and will wow the marketplace, and then proceeds to vigorously blame people for their failure to appreciate the system - when it's more a case of the operator failing to understand (or give a rats arse about) people.
Hint: Your model will work nicely when autonomous software agents are starting Bitcoin businesses and need to IPO.

Excellent analysis. Megalomania is particularly ugly and sad.

[TheSwede75]

Short story version:
Tytus (Leszek) had an idea. He talked to bitfury and ask him to design a chip. Then collected money (thru 100TH mine IPO and some private funds). While bitfury was busy with designing, Tytus was busy talking with semiconductors vendors and other people capable with electronics engeneering. This cooperative was succesful and they have working chips (and whole miners) but due to errors in mass production of PCB (caused by manufacturing company) there is delay of deploying hardware to 100TH mine. Tytus is very honorable man and he knows that this delays are causing losses to investors so he decides to throw another 100TH to mine (total will be 200TH). Loosing his own private money (well I'm suspecting that he will just quit profits from first batches of chips sales).
It's all my speculations based on half a year of tracking info

Agreed in general, but I also assume TYTUS is a major share holder so if 100TH profits, so does he.

[Dexter770221]

Site has changed:
Last modification:   2013-08-17 11:00:01
 
200 terra Hash/s bitcoin mine using 55nm ASIC boards.

[SebastianJu]

Ok, the targetted price per GH arent bad. At least when the miner assembly cost the same again. Then it would be similar like Asicminers old chips. AM can bring up 1TH for 10K USD. Of course its open how much they can bring online with that money with their next gen chip. And this project here would be a next gen chip compared to Asicminer.

So far this looks like one of three projects that will have their own ASIC Design and is able to produce miner for a low price. Im only not very sure... can this project order more ASIC's for the same price later to remain their hashrate?

The other 2 projects i check out at the moment are Labcoin and ActiveMining. Are there any more that will have a mining farm from Asics they practically own the design? Maybe Scrypt Asic's too?