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

[gebir]

up up up

[1714125638]

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[1714125638]

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[bluemike]

Can someone please provide a brief update of what is going on with Picostocks and the 100th mine?

Thanks.

[snowdropfore]

Somebody can tell me why the 100th dividend adress still have  278B balance?? what is use  for??

[yuchuanzhen]

Somebody can tell me why the 100th dividend adress still have  278B balance?? what is use  for??

Just account balance.

[goxed]

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

[gaba]

Somebody can tell me why the 100th dividend adress still have  278B balance?? what is use  for??

August shipping is almost complete.  Due to a shortage of M-boards, we won't be shipping starter kits this week.  As a stop gap for those customers, I'm pointing the equivalent hashrate to a dedicated pool account, which we will pay out to them when we ship.

[Dexter770221]

Hashrate climbing up, divis almost doubles. Keep up good work. Whatever are you doing don't stop ;-)

[snowdropfore]

Hashrate climbing up, divis almost doubles. Keep up good work. Whatever are you doing don't stop ;-)

But the share's price is going down and down.

[Kushedout]

Hashrate climbing up, divis almost doubles. Keep up good work. Whatever are you doing don't stop ;-)

But the share's price is going down and down.

You should of added another "down", would make it sound more dramatic. 

Dave, I would like to congratulate you and your team for outstanding job you have done and continue to do so, in the realm of vaporware and empty promises, it great to see actual results.

Also, love seeing the daily gradual increase in dividends.

Thanks again and keep up the good work.

[bluemike]

How are the dividends handled?? 

Are they held in custodial account or they distributed directly to shareholders?  If they are distributed, how are they distributed (i.e. back to the user acct at picostocks or sent to the wallet that is linked up)?

Thanks.

[tarmi]

How are the dividends handled??  

Are they held in custodial account or they distributed directly to shareholders?  If they are distributed, how are they distributed (i.e. back to the user acct at picostocks or sent to the wallet that is linked up)?

Thanks.

distributed directly to the user's account at picostocks.

from there you can forward your earnings to your wallet address.  

[kaerf]

here's an approximate hash rate for the mine based on the dividend address

[buzzdave]

here's an approximate hash rate for the mine based on the dividend address

^ Cool ^

Our in-house numbers say 40TH, and a number of racks remain un-optimized.  Today we worked on automagic restarts to keep everything running as much as possible.  Optimizing passes should be finished tomorrow.  We have hardware running that amounts to theoretical 65TH if every rig is running 400G, so we should see some good improvements.  Next week more new hardware will be landed.

[yuchuanzhen]

here's an approximate hash rate for the mine based on the dividend address

^ Cool ^

Our in-house numbers say 40TH, and a number of racks remain un-optimized.  Today we worked on automagic restarts to keep everything running as much as possible.  Optimizing passes should be finished tomorrow.  We have hardware running that amounts to theoretical 65TH if every rig is running 400G, so we should see some good improvements.  Next week more new hardware will be landed.

What about the solo plan?

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

[JaredR26]

What about the solo plan?

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

See this post:

https://bitcointalk.org/index.php?topic=140366.msg3131545#msg3131545

The solo plan is a very high priority still, but it is hard for me to justify the time and cost to go solo for a 2-3% gain rather than optimizing rigs for a +45% gain or more.

[yuchuanzhen]

What about the solo plan?

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

See this post:

https://bitcointalk.org/index.php?topic=140366.msg3131545#msg3131545

The solo plan is a very high priority still, but it is hard for me to justify the time and cost to go solo for a 2-3% gain rather than optimizing rigs for a +45% gain or more.

What about this ?

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.

[JaredR26]

What about the solo plan?

We'll go solo this week - the pool mining is just a temporary measure while the mine is too small to deliver reliable dividends to the shareholders.

See this post:

https://bitcointalk.org/index.php?topic=140366.msg3131545#msg3131545

The solo plan is a very high priority still, but it is hard for me to justify the time and cost to go solo for a 2-3% gain rather than optimizing rigs for a +45% gain or more.

What about this ?

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.

I'm not opposed to it, but I don't have experience setting it up.  I do know that other Asics like Asicminer blades originally had trouble working with P2Pool, and I haven't read of people who have made it work for Bitfury's software base(has anyone done so??).  Especially at our scale- We have hundreds of devices online now and multiple stratum proxies to manage the distribution and connection flow.  I worry about the stale rates- Our connection is good but with that volume of devices and extra stratum layer(s), would that cause a stale rate worse than the BTCGuild?

Moreover, it would still be a temporary stopgap- we'd still want to solo mine very soon, so all the changes would have to be redone for solo.

If someone can convince me that the stale rate fear is overblown and the switch process is seamless enough, I might be able to get to it sometime Sunday->Tuesday, but it won't change the prioritization of solo mining(which would eliminate any stale rates and return to the raw statistics/luck we should be running with).

[Franktank]

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date.   

[TheSwede75]

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date.   

Unless you are one of the founders, you have absolutely no idea what the end-goal of the project is. It's up to the founders to motion for altering the parameters just as they switched the hashing power from 100-200TH at one point they can choose to alter the project goals with share holder approval at any time.

[goxed]

So does one share of 100TH account for potentially 400MH/s? Will this mine grow beyond 200TH? I bought some shares late in the game and just wanted to gauge if it would be worthwhile to hold it for the long term.

This mine will NOT grow beyond 200TH, these are essentially PMBs. If you bought at IPO, you'll get your ROI but if you're buying now, you're only giving your money away. IPO investors basically paid for R&D of Bitfury's "shovel"; in turn, they get a discounted "shovel" at a later date.   

Unless you are one of the founders, you have absolutely no idea what the end-goal of the project is. It's up to the founders to motion for altering the parameters just as they switched the hashing power from 100-200TH at one point they can choose to alter the project goals with share holder approval at any time.

Can one of the founders please comment on the above? It would make a difference between holding my shares or selling it now.