financing a 'Community Miner' project; Are You In?

[aliashraf]

unless you've a couple million dollars behind you; or a fat stack of 16nm chips ready to solder to a chinese cloned PCB - i'd probably advise against wasting your time. the mining paradigm has evolved from companies releasing machines to home users, then exclusively large mining outfits; to then hoarding their own equipment for their own exclusive use (knc, bitfury, anyone remember the bitcoin brothers?)..

if the end goal is still mining for profit; set up a pool and rent some hashrate at an agreed price, and hope you beat the cut. this will be your most successful option; as the only people making money are the ones who either stole the equipment they use, are not paying for power or have a large amount of space at their disposal (not to mention those who mine selfishly.. f2pool/btcc/antpool).

get some interested candidates to throw some btc at a reasonable amount of hashrate; then split it accordingly. this is still more than possible and worthwhile

A couple million dollars is enough , you right and ... it is just the price of a thousand or less S9's ... not a big deal.  

The thing is saying: 'NO! It won't happen, I know.' is so easy until you have no understanding about the situation, the threats against your interests and your obligations.

[1715284542]

1715284542

[aliashraf]

Now, back on topic.  I am still talking to an ASIC supplier twice per week waiting on updates.  Still nothing on the Bitfury front.  I have also been reaching out to BW (I will have a hell of a phone bill this month I am sure) but that is in its infancy and I will update if anything comes of it.

I make this prophecy:

You will get nothing out of BW and you will keep getting nothing out of Bitfury and you have no fortune with Bitmain absolutely!

Not a strange and exciting enough prophecy?

not a fault of me, the poor ordinary prophet!

The Almighty assigns simple jobs to me  

I love being the ASSHOLE so here we go - after reading your comment above, where in HELL do you expect to get ASICS if other seasoned forum members cannot get them.  Is the Majestical Fucking ASIC Fairy going to sprinkle her fairy dust on some corn flakes for you?


ps- if you say you are going to design and produce them, please lock this thread and let it go away gracefully

first: I think you don't understand what ASIC is, and how much it costs us to develop an open-to-market ASIC chip, so you just, 'guess' it is very complicated and 'too advanced' while it is not.

second: A properly organised community can negotiate and control far more better than a single person.

third: You better understand one single important point: We have no choice other than fighting together to the last minute, no other choice and there is hope.

WOW - I like the insult but I am aware of what an ASIC is, but I think you are the one that is delusional.  What type of money do you think it will take to design and fab an ASIC that can compete with the current generation?  Secondly, how soon do you think you could get it done with the current backlog of chips being produced?  Do you think your long speeches will get Global Foundaries to let you go ahead of the billion dollar companies?

Please elaborate on the budget and timeframe you are looking at because the only person on this thread without a clue seems to be the OP.

No you are not aware, I bet.

As for your budget inquiry of the project:

Ethereum community is far behind Bitcoin's and its market cap is nothing compared to Bitcoin,
DAO initiative was immature and full of flaws (A Turing complete enabled smart contract is the most  error prone approach proposed to a problem of this class ever ) and everybody knew it,
Nobody has ever discovered a use case for smart contracts in mainstream business, Bitcoin is already a part of it,
Ethereum itself is not under ASIC attack and not in an emergency (Bitcoin is)


And  guess what? they raised 200 or so million dollars for what? Investing in hypothetical Ethereum and smart contract related startups!

It is  a shame! Shame on this Bitcoin Foundation ...

I mean who are this guys and WTF are they doing? Fighting Bitcoin Classic guys and doing snake business with Gavin?

The whole technology is under ASIC attack, community mining is obsolete and centralization is out there and they are playing 'I'm the most clever teenager ever' game with their SegWit (an obvious software bloat, an 'I am very clever' piece of programming trick, so ordinary, so dirty, so worthless) ...

What the hell are they doing?

[aliashraf]

Wow, what a read. I truly hope nobody gets scammed.

It is not a scam! Are you crazy? 

Personally I am new to this community and can't run a campaign to collect money and escape, nobody gives me a penny, ... don't be rude!

My proposal is about using the social capital of the community (I have a 0+ share in it ) and  Blockchain infrastructure to run a protocol for supporting community mining, the crucial, absolutely fundamental need for a decentralized public blockchain like Bitcoin.

[aliashraf]

I am up for any well conceived, profitable, reputable and realistic ASIC project that I can afford.
So far I don't see one here.  Just a lot of blah, blah, blah.
Stop asking for money before you have a plan with the above characteristics.
Or better yet - if you know so much, start your own company.

I'm not asking for money  ... What's this? A Denial of Discussion Attack?

This is it? This is all you got? "start your company" ?  

The basic and most fundamental step for the community mining project  is solving (by discussion) the organisation and investment problems, keep your money in a safe place and wait for these to be solved, I see you have nothing to present for the time being.

[ZedZedNova]

And  guess what? they raised 200 or so million dollars for what? Investing in hypothetical Ethereum and smart contract related startups!

It was just a bit over USD 150 million until the USD/ETH exchange rate popped to USD 20/ETH just prior to the recursive send exploit event that formed the "dark DAO."

- zed

[cloudnthings]

Such an interesting thread. Can anyone imagine a conversation like this happening face to face if we were all in the same room?

Can I call it passion from the OP? Love your intentions dude. Best of luck.

[in2tactics]

Such an interesting thread. Can anyone imagine a conversation like this happening face to face if we were all in the same room?

Can I call it passion from the OP? Love your intentions dude. Best of luck.

When you can hide behind the keyboard, it is a lot easier to say things you would never say face to face.

[Mr. Kashif]

Such an interesting thread. Can anyone imagine a conversation like this happening face to face if we were all in the same room?

Can I call it passion from the OP? Love your intentions dude. Best of luck.

When you can hide behind the keyboard, it is a lot easier to say things you would never say face to face.

On point.

*Shots Fired*

[Unacceptable]

When you can hide behind the keyboard, it is a lot easier to say things you would never say face to face.

LMAO you are so right !! but im crazy any way have had my but kicked a few times on real life because of what i say to others in there face . I'm sure il end up deleting this comment but for now i had add that .

but you are right some of the things said here won't be said in person ..some thing i say on the forums i won't  say to some because to them it can be down right rude or i get ignored as a fool . lol

Such an interesting thread. Can anyone imagine a conversation like this happening face to face if we were all in the same room?

Can I call it passion from the OP? Love your intentions dude. Best of luck.

i can only think of how bad this meeting would be ...  

I don't give two shits what anyone thinks of me....I'll say what I say here to anyone anywhere  

[2112]

When you can hide behind the keyboard, it is a lot easier to say things you would never say face to face.

On point.

*Shots Fired*

I don't give two shits what anyone thinks of me....I'll say what I say here to anyone anywhere  

I wanted to return our attention to the issues in this thread: truthfulness of the posters and the sanity of the posters. This thread seems to be mercifully free of any obvious attempts to scam/defraud. And the whole Bitcoin mining milieu is mercifully free of the dangers of physical harm

The "face to face" isn't like some dive bar with everyone drunk and armed. It is more like a courtroom "face to face" when the truth is most likely to win. Modern courtrooms are increasingly even using transparent barriers to allow the sides to speak the truth without risking physical harm.

The difference with the courtroom is that this board is anonymous. We don't get the benefit of a background checks for the prospective business partners. All that's left is hunches about the sanity and trustfulness.

Please everyone don't let themselves get intimidated with threats like "You wouldn't say that face to face!".

The skillful scammers are mostly gone from the Bitcoin mining, what we have now is a wave of unskilled desperadoes and self-deluded dreamers.

The opening post of aliashraf is a great modern example of a dreamer, very much like the 17th century Don Quixote "who reads so many chivalric romances that he loses his sanity and decides to set out to revive chivalry, undo wrongs, and bring justice to the world." All you need to do is replace "chivalry" with "Bitcoin" and "distributed". The main difference was that the original Don Quixote had his own horse and a down-to-earth servant named Sancho Pansa. aliashraf doesn't own a horse and is looking for at least five servants with their own horses.

The boisterous posts of Mr. Kashif is a good example a desperado, somebody who already tried and failed at getting technical education and relevant employment. His greatest motivator is probably shame he feels towards his parents who paid for his schooling.

To recapitulate and summarize: please don't let themselves get manipulated into not asking the important questions. But at the same time don't ask stupid questions. This isn't a real courtroom where everyone will be excused for asking an explanation of unfamiliar term. Here the conversation isn't live, anyone can put the unfamiliar term in the search box of their browser and skim first couple of returned results.

[barrysty1e]

unless you've a couple million dollars behind you; or a fat stack of 16nm chips ready to solder to a chinese cloned PCB - i'd probably advise against wasting your time. the mining paradigm has evolved from companies releasing machines to home users, then exclusively large mining outfits; to then hoarding their own equipment for their own exclusive use (knc, bitfury, anyone remember the bitcoin brothers?)..

if the end goal is still mining for profit; set up a pool and rent some hashrate at an agreed price, and hope you beat the cut. this will be your most successful option; as the only people making money are the ones who either stole the equipment they use, are not paying for power or have a large amount of space at their disposal (not to mention those who mine selfishly.. f2pool/btcc/antpool).

get some interested candidates to throw some btc at a reasonable amount of hashrate; then split it accordingly. this is still more than possible and worthwhile

still a viable option; hashrate can be directed at a PPS/PPLNS pool or a pool owned by the group (to earn full blockreward if found).