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Author Topic: 2013-03-26 Motherboard.Vice.com - An Interview with Yifu Guo / Avalon ASIC  (Read 3149 times)
Stephen Gornick
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March 26, 2013, 08:22:52 PM
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Engineering the Bitcoin Gold Rush: An Interview with Yifu Guo, Creator of the First ASIC-Based Miner

by Alec Liu

Quote
And quietly in the background, a company called Avalon shipped the first ASIC-based bitcoin miners, custom-built rigs with specially-designed chips for efficiently printing the market’s hottest commodity, ushering in what can be considered the internet’s first gold rush. (Someone recently paid $20,000 for a $1,500 miner from batch two on eBay. At the time of this writing, another auction has a batch two Avalon miner going for over $19,000.)

After opening up its third batch of 600 miners for sale yesterday, customers from around the world from countries like Argentina, the UK, and even Egypt (although the majority of orders came from the big three of the U.S., Russia, and China) made sure Avalon’s units sold out in fifteen minutes. We had the chance to sit down with Avalon’s founder, Yifu Guo to talk bitcoin, mining, and the future.
[...]
If bitcoin is a $1 billion market, and it only takes less than $1 million to secure the network right now, that’s not a lot of money for someone to try and take over the mining scene. The faster the technology progresses, the more secure the network is, because it will be that much harder for a malevolent entity to mess with the system. We want to [improve performance ...] The sooner the better so we’ll never again have this scenario where one company like Avalon essentially controls more theoretical computing power than the entire network’s hash rate. This will never happen again.

 - http://motherboard.vice.com/blog/engineering-the-bitcoin-gold-rush-an-interview-with-yifu-guo-creator-of-the-first-asic-based-miner

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Stephen Gornick
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March 26, 2013, 08:24:19 PM
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Further discussion:

Interview with Yifu Guo from Avalon Asic
 - http://bitcointalk.org/index.php?topic=159125.0

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March 26, 2013, 10:34:02 PM
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Thanks.  Caught this as it's on top of the Bitcoincharts page too.  You know, for being quite a cynic of Avalon, that interview was very good and obviously Yifu "gets it".  Nicely done, thanks.

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March 27, 2013, 02:04:36 AM
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I really like how he understands that bitcoin valuation in other sovereign currencies isn't the POINT of bitcoin. Excellent interview. This is how you run business in the bitcoin-sphere.

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March 27, 2013, 02:58:35 AM
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Quote
We want to [improve performance ...] The sooner the better so we’ll never again have this scenario where one company like Avalon essentially controls more theoretical computing power than the entire network’s hash rate. This will never happen again.

I am in love with this.

https://twitter.com/thefiniteidea

14jNCND1PemxxHD17m2gGjScrPHWcVmduP
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