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Question: Do you think BFL's new ASIC is a lie?
Yes - 88 (23.8%)
NO - 119 (32.2%)
NO, but they are lying about performance, delivery dates etc. - 162 (43.9%)
Total Voters: 369

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Author Topic: NEW info. Everyone is lying about ther ASIC project  (Read 26288 times)
teodor87
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April 11, 2013, 10:12:54 PM
 #341

Since BFL is not delivering, Avalon seems to have a monopoly in the consumer ASIC market, and the lucky receivers of their second batch are making far too much bitcoin in a short period, effectively giving them too much power in the bitcoin economy. There should have been more ASICS, or none at all... The current situation is not good IMO.

If a big semiconductor company, or at least a semiconductor company lead by specialists, who had previously developped some system was making those ASIC miners they would be selling very cheap, very fast. Why? Demand, and BTC price stabilizing somewhere in the 5 - 15$ range.

However, BFL never had a concept before, never had a layout before, never had experience before. What they did was buying a domain, creating a stylish website and advertising on google. The rest is history.

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April 11, 2013, 10:14:31 PM
 #342

Since BFL is not delivering, Avalon seems to have a monopoly in the consumer ASIC market, and the lucky receivers of their second batch are making far too much bitcoin in a short period, effectively giving them too much power in the bitcoin economy. There should have been more ASICS, or none at all... The current situation is not good IMO.

It would be helpful if the mining algorithm could be modified to minimize the impact of processor type.  Supposedly litecoin was designed in address this.  It might not be feasible for bitcoin to change that much at this point, but it's possible that Satoshi considered this early on and isn't concerned with the implications.  Only if we see the network hash rate really spike, and make the difficulty jump with it, will we know the impact on the network as a whole.  Smaller miners, like myself, might just bail if the block mining expectancy jumps by years.
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April 11, 2013, 10:14:40 PM
 #343

7 billion people, silent BTC revolution, but just two companies producing ASICs. Why?

I think at this point the delay before anyone STARTING now would be too long for people to trust to invest in, most of the BTC/inflow of cash is already diluted into these companies. I mean, I'd do research, and I know a little about chips, but don't work in the field, and nobody's going to really trust anyone else taking their BTC for development when they'd be 'so far behind'... (even though they may still beat some of the asic companies! ;P)

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teodor87
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April 11, 2013, 10:20:03 PM
 #344

7 billion people, silent BTC revolution, but just two companies producing ASICs. Why?

I think at this point the delay before anyone STARTING now would be too long for people to trust to invest in, most of the BTC/inflow of cash is already diluted into these companies. I mean, I'd do research, and I know a little about chips, but don't work in the field, and nobody's going to really trust anyone else taking their BTC for development when they'd be 'so far behind'... (even though they may still beat some of the asic companies! ;P)

Well imagine the following.

You said you know a little about chips. However, you decide to build an ASIC, and you figure something in your head, register a company, domain, website, etc.

And you start collecting money, based on an idea. And lots of it.

But when you get the money, you start to want more. And you increase the price of something that no one has actually ever seen. No one knows if it exists.

And call me Nostradamus, but I predict that they will not ship by next week. In fact I think they won't ship at all!

You can only imagine how much time would it take for these jokers to write the technical documentation.

Let's say there is some really small chance that they will ship. What if it breaks?
It took them months to create, then it will take them several more months to "repair".

I bet they did not think of that either.


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April 11, 2013, 10:28:02 PM
 #345

I think they will ship now. Just check out recent BTC prices. The insiders sold almost all of their BTC holdings today (one day quick chrash). And guess what? These insiders are working with BFL. No? Lets wait another two weeks. I'm pretty sure they will deliver these ASICs with current BTC prices maybe a little lower.

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April 11, 2013, 10:37:20 PM
 #346

Since BFL is not delivering, Avalon seems to have a monopoly in the consumer ASIC market, and the lucky receivers of their second batch are making far too much bitcoin in a short period, effectively giving them too much power in the bitcoin economy. There should have been more ASICS, or none at all... The current situation is not good IMO.

It would be helpful if the mining algorithm could be modified to minimize the impact of processor type.  Supposedly litecoin was designed in address this.  It might not be feasible for bitcoin to change that much at this point, but it's possible that Satoshi considered this early on and isn't concerned with the implications.  Only if we see the network hash rate really spike, and make the difficulty jump with it, will we know the impact on the network as a whole.  Smaller miners, like myself, might just bail if the block mining expectancy jumps by years.

I was a smaller GPU miner myself, however the current difficulty combined with the electricity prices here in the Netherlands, make mining unprofitable with a bitcoin below approx. $180. If BFL would deliver a 5GH/s box for $250, that would only consume some 5W power, mining would be profitable again for people not willing to spend a fortune on hardware. However, I don't think BFL will ever deliver...
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April 11, 2013, 10:42:18 PM
 #347

I could understand if they tried to base it on the exchange rate cause they have to pay the chip manufacturers. But you're right, I can't see any reason you'd raise your product price in the middle of the pre-purchase phase just cause that's what competitor sold at and 'you can' to exploit the market, especially since BTC has been climbing since the beginning of the year (except for this little hitch fluctuation this week) if anything you'd sell for same BTC and still be profiting more.

Granted, they could actually have products being worked on, but as mentioned, they could have ran over their estimated salary budget and now are compensating by jacking up the price (read: pyramid scheme) even if it's not a pyramid scheme to run off with, they're using the new members to pay for their newly ordered hardware PLUS compensating for the earlier preorders costing more effort to debug. I would imagine that the rise in BTC, STILL, would have compensated though.

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teodor87
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April 12, 2013, 06:56:56 PM
 #348



 Grin

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April 12, 2013, 07:05:20 PM
 #349

Not cool, dude.

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April 12, 2013, 08:22:37 PM
 #350

totally cool dude

This is not some pseudoeconomic post-modern Libertarian cult, it's an un-led, crowd-sourced mega startup organized around mutual self-interest where problems, whether of the theoretical or purely practical variety, are treated as temporary and, ultimately, solvable.
Censorship of e-gold was easy. Censorship of Bitcoin will be… entertaining.
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April 12, 2013, 08:39:45 PM
 #351

very unlikely outcome from BFL
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