Off-Topic

[kkooks]

Bitmine.ch is  "able to source from third parties a lot of Avalon ICs that is big enough to assemble all of our Batch #1 units."

https://bitcointalk.org/index.php?topic=215431.340

I wish Terrahash could do the same.

I also wish Terrahash was able to get funded by a "Hong-Kong Based Investment Fund" for 500,000 - 1,000,000 USD.

I'm sure if they were able to get such funding they would be able to "Source from third parties a lot of Avalon ICs".

Know any good investment funds?

Why would they want to use a investment fund when they can get pre-orders?

Think about it from their side they get cash and give up zero percent of company.  If it the company succeeds they still own 100 percent of it and owe no loans.

If it fails they pack up accept their salary they have been getting over the past months and move on.  I would love to know what their salary is they are paying them self's.  Think about they didn't design, build, or buy many things yet.  There is no way they are putting in 40 hour weeks.  But i am willing to bet they get a nice salary.  

we have a winner.

No joke, this preorder scheme is any company's dream. Cash up front without the short term liabilities

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[xyzpdq]

On another note I had a question about your hosting service.
When it becomes not profitable to mine and the fees are bigger than the value in usd of coins mined, how do we proceed?
Does it automatically stop mining the month when the profit becomes <=0 ?
Any options available on the fate of the hardware?

We will bill you monthly for the hosting charges, regardless of what the value of the coins is, or how many coins its mining. When you decide its not any more profitable, you can request a shipping. We will charge you the shipping cost and ship your unit to you.

If/when we decide to stop hosting with Terrahash, can we arrange to pickup the miner?  Or can we arrange for someone to pick it up on our behalf?

[kkooks]

How's that K64 coming along???

what k64?
They cant even get a k16 running properly

[fasmax]

TH reported in one of their updates they were assembling a K64.
So was just wondering how that was coming along.
Have they got it hashing yet?

[kkooks]

TH reported in one of their updates they were assembling a K64.
So was just wondering how that was coming along.
Have they got it hashing yet?

... not that ive seen...
its about time they posting something on the progress of the engineering troubles they are having in the k16

2 weeks from chip arrival to ship out they said...
which gives them less than a week to show us what they were able to pull off with the latest UNVERIFIED sample chip shipments.

[kendog77]

TH reported in one of their updates they were assembling a K64.
So was just wondering how that was coming along.
Have they got it hashing yet?

That should be the least of your worries. Avalon has managed to ship a grand total of three bulk chip orders to bitcointalk purchasers, and there are still many chip orders before they get to the first terrahash order.

https://bitcointalk.org/index.php?topic=277198.0

[Vigil]

Who in their right mind is still banking on these Klondike boards? Its over. Done. Time to move on to the next opportunity.

[atomicchaos]

Who in their right mind is still banking on these Klondike boards? Its over. Done. Time to move on to the next opportunity.

The joy of the Cryptoworld, where a week is a year in real life...

[MinermanNC]

Who in their right mind is still banking on these Klondike boards? Its over. Done. Time to move on to the next opportunity.

The joy of the Cryptoworld, where a week is a year in real life...

You got that right Atomic.....amazing how fast the BTC earnings have dropped per G/hash,,,,,scary,,I think I may just stick to gpu alt coins for a while and have just enough asic miners (erupters or a blade) to cover utility cost on gpu mining. For a while anyways....

[iCEBREAKER]

... Boycott future Avalon products.
... Report Avalon / Bitsyncom to the FTC.

And do what you need to do to protect your own interests. Remember make sure to put a hurt on Avalon and Yifu for the lack of communication and his failure to live up to his NO BS terms and conditions of which NO REFUNDS is certainly against FTC rules. If you can hold out and help out the DIY builders that be great but one has to really put the pressure on Yifu and where possible support the DIY people. They will be able to move on to the next chip if they can scrape through... but again it is a personal call on that.

AVALON Scam Accusation thread
https://bitcointalk.org/index.php?topic=258829.0

[atomicchaos]

You got that right Atomic.....amazing how fast the BTC earnings have dropped per G/hash,,,,,scary,,I think I may just stick to gpu alt coins for a while and have just enough asic miners (erupters or a blade) to cover utility cost on gpu mining. For a while anyways....

I questioned my strategy early on, but it's paid off nicely for the last four months. We're about to see a lot more people back into it though, especially with the cards dropping in price soon. Forget about it if Litecoin actually shoots up at all. As long as it stays above $2, and difficulty under 1300, I will still be turning a decent profit, even when factoring in my lease, power and other monthly costs. I'm ramping up to over 100,000 kh/s in the next month or two. If these other crap coins keep on helping, that's even better. I just mine and sell those, but I'll keep a few thousand of LTC in my "just in case" pile.

[madsusies]

AVALON Scam Accusation thread
https://bitcointalk.org/index.php?topic=258829.0

The rule no.1 in business, never ever deal with Chinese guy if You are not able to knock at his door !

[MinermanNC]

You got that right Atomic.....amazing how fast the BTC earnings have dropped per G/hash,,,,,scary,,I think I may just stick to gpu alt coins for a while and have just enough asic miners (erupters or a blade) to cover utility cost on gpu mining. For a while anyways....

I questioned my strategy early on, but it's paid off nicely for the last four months. We're about to see a lot more people back into it though, especially with the cards dropping in price soon. Forget about it if Litecoin actually shoots up at all. As long as it stays above $2, and difficulty under 1300, I will still be turning a decent profit, even when factoring in my lease, power and other monthly costs. I'm ramping up to over 100,000 kh/s in the next month or two. If these other crap coins keep on helping, that's even better. I just mine and sell those, but I'll keep a few thousand of LTC in my "just in case" pile.

Sweet Im getting ready to add 3000 kh by end of sept. (cooler weather) Of course I will never catch up with you lol....mining CGB at the moment,,,trade on cryptsy> BTC ...check it out ? and the dev website, pretty cool and interesting.. let me know what you think? catch ya in the chat channel maybe....

[Vigil]

You got that right Atomic.....amazing how fast the BTC earnings have dropped per G/hash,,,,,scary,,I think I may just stick to gpu alt coins for a while and have just enough asic miners (erupters or a blade) to cover utility cost on gpu mining. For a while anyways....

I questioned my strategy early on, but it's paid off nicely for the last four months. We're about to see a lot more people back into it though, especially with the cards dropping in price soon. Forget about it if Litecoin actually shoots up at all. As long as it stays above $2, and difficulty under 1300, I will still be turning a decent profit, even when factoring in my lease, power and other monthly costs. I'm ramping up to over 100,000 kh/s in the next month or two. If these other crap coins keep on helping, that's even better. I just mine and sell those, but I'll keep a few thousand of LTC in my "just in case" pile.

My lord, I'm just now approaching a return on my 2400kh I bought 3-4 months ago. No way I can purchase another rig let alone one that massive. The more you spend upfront, the better with mining it seems.

[Bitoy]

Bitmine.ch is  "able to source from third parties a lot of Avalon ICs that is big enough to assemble all of our Batch #1 units."

https://bitcointalk.org/index.php?topic=215431.340

I wish Terrahash could do the same.

I also wish Terrahash was able to get funded by a "Hong-Kong Based Investment Fund" for 500,000 - 1,000,000 USD.

I'm sure if they were able to get such funding they would be able to "Source from third parties a lot of Avalon ICs".

Know any good investment funds?

Why would they want to use a investment fund when they can get pre-orders?

Think about it from their side they get cash and give up zero percent of company.  If it the company succeeds they still own 100 percent of it and owe no loans.

If it fails they pack up accept their salary they have been getting over the past months and move on.  I would love to know what their salary is they are paying them self's.  Think about they didn't design, build, or buy many things yet.  There is no way they are putting in 40 hour weeks.  But i am willing to bet they get a nice salary.  

I think you missed the point,

But I'm kind and will spell it out for you.

Bitoy wanted Terrahash to follow in the footsteps of someone who received up to a million dollars to play around with AND took pre-orders.

more apples to oranges.

Also most owners of start ups don't even pay themselves until they see a steady cash flow. Seems you are just speculating again just to fuel the fire.

Let me rephrase.
Terrahash was willing to pay a premium to get more chips but it also didn't arrive.   But lucky Bitmine was able to source it. (Maybe most chips landed in china. premium is around 30% (not 3 times ) but can't verify it ).

[atomicchaos]

My lord, I'm just now approaching a return on my 2400kh I bought 3-4 months ago. No way I can purchase another rig let alone one that massive. The more you spend upfront, the better with mining it seems.

3-4 months is a great ROI. There aren't many businesses that you can make back your investment in 3-4 months. There are many other factors that go into that, most important is power, and I'm fortunate to be very close to some of the cheapest power in the US. There are cheaper places, but that is the difference in becoming a large operation that can turn a profit in the short term.

Plus, if it goes bust earlier than expected, I can make back at least 30% of the equipment cost, unlike ASICs. That said, to become a large scale GPU farm, you need massive amounts of cheap power, and the ability to cool it. If only I started this 3 years ago...

[fasmax]

Looks like you can buy Avalon asic's here for $6.00 to $7.00 each.
http://http://www.alibaba.com/product-gs/1144834838/A3256_Q48.html

[Vigil]

My lord, I'm just now approaching a return on my 2400kh I bought 3-4 months ago. No way I can purchase another rig let alone one that massive. The more you spend upfront, the better with mining it seems.

3-4 months is a great ROI. There aren't many businesses that you can make back your investment in 3-4 months. There are many other factors that go into that, most important is power, and I'm fortunate to be very close to some of the cheapest power in the US. There are cheaper places, but that is the difference in becoming a large operation that can turn a profit in the short term.

Plus, if it goes bust earlier than expected, I can make back at least 30% of the equipment cost, unlike ASICs. That said, to become a large scale GPU farm, you need massive amounts of cheap power, and the ability to cool it. If only I started this 3 years ago...

I also have relatively cheap power but I am going to sell mine now. I think I can get back about 75% of my startup costs and can make more through investing with that than I ever could continuing to mine over the same time period. When I came into mining it was only going to take 1 month to get my return cause LTC was at about $4 and diff was low. Didn't work out that way cause it took me a month before I could get my cards all working together.

[-Redacted-]

Except minimum order is 10 pieces and they only have 9 in stock, and they supply them by the ton.  It's just a typical Alibaba phishing expedition.

[kkooks]

My lord, I'm just now approaching a return on my 2400kh I bought 3-4 months ago. No way I can purchase another rig let alone one that massive. The more you spend upfront, the better with mining it seems.

3-4 months is a great ROI. There aren't many businesses that you can make back your investment in 3-4 months. There are many other factors that go into that, most important is power, and I'm fortunate to be very close to some of the cheapest power in the US. There are cheaper places, but that is the difference in becoming a large operation that can turn a profit in the short term.

Plus, if it goes bust earlier than expected, I can make back at least 30% of the equipment cost, unlike ASICs. That said, to become a large scale GPU farm, you need massive amounts of cheap power, and the ability to cool it. If only I started this 3 years ago...

problem is terrahash is looking like they are 2 months-ish away (IMHO) from even getting the development aspect of things squared away.
Lets just hope the rest of the asic manufacturers also fail to deliver on time so that the impact of the delays are muted... starting up then with 30%~45% increase in difficulties will double your ROI estimates.