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

[silvermario]

WTF, the site is down again.

Already UP!

[jinyoubei]

Because everybody thinks he can sell with a profit before everybody else...

Because hashrate of AsicMiner is increasing and every share gets more hashing power over time.
With 100TH (now 200TH) bitcoin mine you get 400MH/s for every share and that is it.

Let me explain really simple.
You buy 1 share of 100TH mine for 0.2BTC.
In 1 month your 1 share have produced 0.05BTC.
But price of share has dropped to 0.1BTC.
Another months passes your earned additional 0.03 for total 0.08BTC, but
share price has dropped to 0.05BTC and is now worth 0.05BTC.
Total earned 0.08BTC with share price at 0.05.
Or 0.2BTC invested 0.13 returned.

Known since before 2012 as "the problem with PMBs."

I still don't see why people are buying any form of PMB! or even when buying hosted hardware is cheaper.

[Transisto]

We managed to put up 10TH in un-optimized rigs today.  We fought networking gremlins early in the day, but still put together almost 50 rigs.  Tomorrow we'll swap out bad cards and should see another 5TH (reaching 35TH total for the mine).  More team members arrive tomorrow, so I hope to hit that 60TH mark.

Cheers,
Dave

Fist, do you realize how late we are ?

And just now realizing capacity is being withed by lack or personnel...

If there is not right now at least 10-15 people relaying each other 24/7 to do whatever repetitive tasks you've failed hard.

We/You are loosing about 120 000$ per day this 200ths mine isn't at full capacity.

Thanks for details though !

Edit : Shares now at 0.1 btc  , some support at 0.06 ... then nothing.

[gaba]

We are now partly hashing for 'August customers'. 
https://bitcointalk.org/index.php?topic=140366.msg3112943#msg3112943
With current difficulty increase in few weeks even 0.1BTC for share at full 200TH/s is too much. Sorry.

[RHA]

It's ignorance or spraying FUD.

Why ignorance?
Someone here forgot to read business plan and understand it.
The power requirements for 100TH-mine and hosting costs are so low, that it will be profitable long after any other currently available devices stop mining.
In effect, total amount of dividend per GH/s is substantially higher than that of other devices.

Why FUD? To buy shares cheaply.
If one would like to sell his shares, he would not actively depreciate them by moaning here.

Hint: Look who sells his shares cheap - big fishes or small ones?
Big fishes can count and they fear no such a FUD.
Only those who can't count are panicking.

[Dexter770221]

Funny thing, isn't?
When mine was not operational and even there wasn't working chips, then prices of share were increasing. Now when mine starts to operate and increasing dividends, poeople panicly selling.

[chstls]

Funny thing, isn't?
When mine was not operational and even there wasn't working chips, then prices of share were increasing. Now when mine starts to operate and increasing dividends, poeople panicly selling.

who can explain it?

[Bitweasil]

The bitcoin community is depressingly devoid of people who can do math, it seems...

[JaredR26]

We managed to put up 10TH in un-optimized rigs today.  We fought networking gremlins early in the day, but still put together almost 50 rigs.  Tomorrow we'll swap out bad cards and should see another 5TH (reaching 35TH total for the mine).  More team members arrive tomorrow, so I hope to hit that 60TH mark.

Cheers,
Dave

Fist, do you realize how late we are ?

And just now realizing capacity is being withed by lack or personnel...

If there is not right now at least 10-15 people relaying each other 24/7 to do whatever repetitive tasks you've failed hard.

We/You are loosing about 120 000$ per day this 200ths mine isn't at full capacity.

Thanks for details though !

Edit : Shares now at 0.1 btc  , some support at 0.06 ... then nothing.

This isn't really a fair evaluation.  It was only ~1 week ago that Dave got any boards at all, and those needed to be shipped to customers.

The primary blockers are shipments and devices, not personnel.  Even then, you are talking about a facility storing/running several million dollars of equipment, and you want him to hire 10-15 people off the street?  I think that might be a bad idea.  Discounting theft, just accidental breakage or damage would cost the mine more in delays.

Hiring qualified & trustworthy people takes time, especially when you have only rough estimates on delivery volumes and timelines.

[goxed]

Is the picostocks website up?

[tarmi]

down for me.

like yesterday. I guess they are working on it.

[gebir]

Server upgrade  wait 1-2 h.

[RHA]

I see 100TH is shown at BTC Guild as MegaBigPower team, having over 30 GH/s. EDIT: Of course, 30 TH/s

[tarmi]

I see 100TH is shown at BTC Guild as MegaBigPower team, having over 30 GH/s.

you mean 30 TH?

boy, I hope they will be solo mining soon.

[Transisto]

We managed to put up 10TH in un-optimized rigs today.  We fought networking gremlins early in the day, but still put together almost 50 rigs.  Tomorrow we'll swap out bad cards and should see another 5TH (reaching 35TH total for the mine).  More team members arrive tomorrow, so I hope to hit that 60TH mark.

Cheers,
Dave

Fist, do you realize how late we are ?

And just now realizing capacity is being withed by lack or personnel...

If there is not right now at least 10-15 people relaying each other 24/7 to do whatever repetitive tasks you've failed hard.

We/You are loosing about 120 000$ per day this 200ths mine isn't at full capacity.

Thanks for details though !

Edit : Shares now at 0.1 btc  , some support at 0.06 ... then nothing.

This isn't really a fair evaluation.  It was only ~1 week ago that Dave got any boards at all, and those needed to be shipped to customers.

The primary blockers are shipments and devices, not personnel.  Even then, you are talking about a facility storing/running several million dollars of equipment, and you want him to hire 10-15 people off the street?  I think that might be a bad idea.  Discounting theft, just accidental breakage or damage would cost the mine more in delays.

Hiring qualified & trustworthy people takes time, especially when you have only rough estimates on delivery volumes and timelines.

So he would have needed personnel to ship the boards too and he didn't plan for it either. That's reassuring.

It can takes less than a week to find qualified people. This project was know to require a significant workload for months and yes, at this point, people in the street stealing some board would not impact the mine as much as 1 hours of not mining at 200th,  (low density)

[Isokivi]

I see 100TH is shown at BTC Guild as MegaBigPower team, having over 30 GH/s.

you mean 30 TH?

boy, I hope they will be solo mining soon.

30 TH/s in surely enough to solo mine allready, about 6.5 blocks per 24h and paying over 5BTC in fees per 24h at it's current pool.

[JaredR26]

I see 100TH is shown at BTC Guild as MegaBigPower team, having over 30 GH/s.

you mean 30 TH?

boy, I hope they will be solo mining soon.

30 TH/s in surely enough to solo mine allready, about 6.5 blocks per 24h and paying over 5BTC in fees per 24h at it's current pool.

Quick update for you guys from Dave and the team.

You can see our current hashrate here:
http://www.btcguild.com/index.php?page=rankings&section=teams

Team: MegaBigPower

We have discussed and decided that we will push back our estimate of when we will switch to solo mining.  Solo mining is a big priority, no doubt, but solo mining gains approximately 3% of revenue and represents a substantial risk.  The act of switching to solo mining is not a trivial matter because if a mistake is made or bug occurs, it can be hours or even a day of wasted shares before you know there is something wrong.  This alone would account for more loss than the 3% guild fee, and from discussions/posts from Asicminer's switch to solo mining, we know it is not likely to be a problem-free process.

In addition, switching and setting up the internal pool would take approximately 1-2 days of our limited time schedule, for a net ~0.9 TH overall gain.  We believe in the current state that other improvements and deployments we can make would account for far more than that 0.9 TH gain.

We will pick up and resume the move to solo mining within the next three weeks, likely within the next two; I will provide an update as we get closer to the switch.

[SebastianJu]

They should set up a p2pool server. Then they would get the same they would get with solomining, with less variance and with faster blocks so they can see errors occuring fast.

[goxed]

Is the picostocks website up?

Is the site up?

[tarmi]

down for me.