[Cancelled] Big Time Coin selling 90 GH/s bitcoin mining devices - Batch A

[Viceroy]

secret ASIC project?
https://bitcointalk.org/index.php?topic=180877.0

[ralree]

$8000 for 90GH?  wow.

[zedicus]

Hey big time.. Thanks for obliging, are you actually having thoughts of hosting all 500? What coast are you on btw.. you have pickup option? I wish youre timing was better as well as youre price point since i havent grabbed an asic yet and time is an issue. Thats said ill still be on the lookout for this thread and youre venture.. good luck..




Ps: Tho we were impressed with the leaves or tree samples, we still need the dog drool, the gummy bear, the last hospital and the last 4 of your plates! rofl



Best,
Zedicus

[samurai1200]

@Big Time Coin,

I saw in another thread that you are having trouble hiring engineers.

I think that the problem is recruiting hardware engineers that are willing to focus on bitcoin mining as a career.

I think that's only partially correct (your claim stemming from the sentiment that Bitcoin could ultimately be an ephemeral thing). I think the biggest part, however, is:

Must be willing to relocate to Roswell, NM immediately.

I know that I was very excited reading this up to this point in the job ad (and I currently have a job as an EE). But, well, its very nice (albeit expensive) living in California. 

I know that contracting engineers out of state may be unsettling, but if you define the conditions correctly (i.e. always be available to call/email/Skype during certain times, required daily/weekly reports, etc.) it may be less of an issue than you think. Anyway, it may be the only way you can gain traction in hiring.

I wish you luck! I'm planning on designing my own small Avalon ASIC-based device, with a focus on being sexxxy. 

Soon as that datasheet hits, its gonna be an all-caffeine, no-sleep kinda month....

[dan99]

if price wise is much much cheaper and can get this baby out by June and we no need to pay up front... some of us may consider provided you can guarantee your delivery..

[n4ru]

>$100 per GH is about 3 months for 100% ROI NOW, but in August? Nah, pass.

[BBQKorv]

Only 3 fans while Avalon has 6? How does that work out?

[loshia]

Only 3 fans while Avalon has 6? How does that work out?

Avalon has 3 fans and two empty holes 

[Big Time Coin]

The idea is to copy a batch 3 Avalon 4 module unit as closely as possible, with a lower overall cost, due to the absence of the legacy costs Avalon had to still recoup during batch 3 sales.

[Dalkore]

Price is too high for that delivery date.  You need to rethink that.

[dan99]

The idea is to copy a batch 3 Avalon 4 module unit as closely as possible, with a lower overall cost, due to the absence of the legacy costs Avalon had to still recoup during batch 3 sales.

Your price to expensive ... degree of difficulty will increase and members will earn less .. if you half the price and meet june deadline .. you may get a chance!

[Signus]

The idea is to copy a batch 3 Avalon 4 module unit as closely as possible, with a lower overall cost, due to the absence of the legacy costs Avalon had to still recoup during batch 3 sales.

Your price to expensive ... degree of difficulty will increase and members will earn less .. if you half the price and meet june deadline .. you may get a chance!

Numbers are a bit high, but I think that's because he's invested in the idea already without having Engineers on staff.

I don't think he can make that deadline unless he hires now and finds a good Engineer or two. Even then that's pushing it, and he'll be falling late into the difficulty rise.

[conv3rsion]

I wish you luck sir. I personally think that your price is much too high given your expected delivery date and the current understanding of the market. But given the amount of money you have invested (and are yet still willing to invest) you do certainly seem committed.

[zedicus]

^^ i will give him that. In poker we call it pot committed! Kinda sucks ... I actually thought this guy was a scam and it seems he is one of the few who maybe actually be genuine and has made an investment into the asic market .. I hope he fairs out ok..

[conv3rsion]

^^ i will give him that. In poker we call it pot committed! Kinda sucks ... I actually thought this guy was a scam and it seems he is one of the few who maybe actually be genuine and has made an investment into the asic market .. I hope he fairs out ok..

Yea, its awesome to see someone willing to bet millions on this. The only issue with his plan that I have is that its obvious that if he had done even some cursory estimates into what difficulty will be in August, even with very conservative estimates, he would know that he couldn't charge 1/3 of what he is planning to. Avalon has already sold hundreds of thousands of chips. Assuming that they can get those to market (which this guy is also dependent on) and then even if Asicminer ships very few units, and BFL ships none, no one will see ROI based on his anticipated pricing and timeframe, and that's ignoring the extra competition that is coming, and the other risks to his operation.

[conv3rsion]

OP I thought about this some more. You should abandon the idea of creating miners (shipping in August) and instead resell the chips to DIY folks in the US, along with assembly parts, as soon as they enter your possession.

Since you have made such a large purchase, you may have an advantage over everyone else buying chips in smaller quantities. As evidenced by the other threads with groupbuys, there is a huge market for chips where the buyer doesn't have to purchase 10k at once, and where the chips are already being shipped to the US. That's your opportunity.  

Otherwise, why the hell would someone like me take the risks that you are outlining, instead of getting in on Avalon batch 4?  Surely that will be cheaper and more predictable than what you are proposing, since its based on actual current difficulty and faster (by comparsion) shipping times. Think about it, there is absolutely no reason for someone to take a chance on your plan given these realities and options.

[Big Time Coin]

In my opinion, many people will try DIY and not be able to build a working rig.  Since I will have staff on hand trained to assemble working mining devices from chips and boards, this is something I may be able to offer in the future, but it is doubtful that my staff will have much respite from assembling branded devices for pre-order customers.  So it is doubtful that I will be offering an assembly, spare parts, or repair service any earlier than September.  Selling chips and boards as kits to DIY folks is something I haven't considered doing because there are already others working on that as a project and I don't want to take on too much.

As to the difficulty estimates, they have consistently been worst case estimates, including my own posts on the subject.  One of the most thoroughly analytical forecasters, organofcorti, posted: http://organofcorti.blogspot.com/2013/02/910-asic-choices-avalon-update-3.html as recently as February 19, 2013 that the difficulty would reach 18 million April 1 and 33 million May 1.

We have seen these estimates fail repeatedly.  Is it because there are all the parts sitting around waiting to be assembled?  Or are there delays prior to delivery of components?  Hard to say.  It's all speculation at this point.  But even with the current worst case estimates of year-end difficulty, the BTC mining devices I am proposing should recoup their investment within 12 months, which has always been an acceptable investment in bitcoin mining as long as I've been doing it, almost 2 years at this point.

[Tehfiend]

I am very interested and just sent you a PM.

[Vagnavs]

it appears you have 2 options. Reduce the price or make a bigger machine. I'd like you to crank up the specs and charge more per unit.

[conv3rsion]

A bigger machine is also an interesting idea. No matter what you do I really do hope you succeed. This takes some guts and the community is better for people like you taking a chance.