KnCMiner Openday Wednesday 5th & Monday 10th June

[mat542]

890 orders that can contain 1 or more units.

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[btceic]

@FloridaBear,
Anywhere near south florida?

Fort Lauderdale here

Im up in Deerfield Beach myself!

[btceic]

Where is asicminer getting their TH's from? If they can deploy this much this fast why cant anybody else?

[erschiessen]

They don't have great ideologies like Yifu

You really believe that Yifu has some ideology other than making bank?

[dogie]

I can respect your thought process on this one, however don't underestimate the motivation for riches... I'm not rich by any means, but I can tell that if I had the knowledge, means, and most importantly a couple of million dollars that magically landed into my account by random strangers I would make it my goal in life to shit asic's if that was what was needed to keep the money flowing. Now by no means are these guys rich or proven, which arguably works against them, but I'm sure they will give it their damndest to make sure they can give something to their grandchildren. Hopefully its not just a couple million they swindled off some schmucks online... but time will tell.

As for the whole idea of mining your way to success, any investor worth his weight in salt wouldn't even think about dropping 50 million , let alone a million on a unofficially recognized currency that's volatile as hell, and has virtually no serious outlets in which to dump all your golden coins(and no, I doubt Mt'Gox would be able to bring in enough dollars to unload all the coin at a profitable rate). They know this... Its better to sell 10 suckers a pick and get a surefire quick buck than it is to spend hours trying to pan for gold, even if we are the asses wanting the pick, its not hard to understand the concept. 

Admittedly, I am invested in this whole thing, and I have to admit that myself like others are dreaming of sunshine and rainbows, and close to a terrahash of mining power in an environment where BTC is at-least worth $100 USD and difficulty lingering around 100M.  But I am also aware that it could all be a very expensive lesson and nothing more than a pipe dream. Alot of people are overextended in this, and I hope for those that are mortgaging  the house that it pays off but the reality is, your right... there is risk, but nothing good ever comes easy, and Fortune favors the bold.

Lets just hope everyone makes it out of this without triggering another mortgage crisis...

Not every investor wears a suit and tie. US investors are known for their risk taking, hence massive SV 1st round funding. Risk reward. Look at asicminer. He got lots of americans to end up valuing his company at $7m.

[dogie]

They don't have great ideologies like Yifu

You really believe that Yifu has some ideology other than making bank?

Yes. He SOLD B1 for 300k rather than mining it for $3-8m a MONTH.

$5m seed funding when you're playing with 1 month mining + 2 month lead IRL ROIs. Prove the concept as soon as first hardware deploys = as much funding as you can take.

So now from $50m we are down to $5m? I'm still waiting for you to tell me how long would it take to actually mine $50m or even $5m. The numbers may be big now, but don't forget that until September there will be many many ASIC in the wild (avalon chips, MAYBE retards bfl, ASICMiner plan to deploy another 100TH, 100TH project, Bitfury and so on) so you can't actually make a good projection on how mining will be. Second of all nobody can predict the price. What's the use of xxxxxx bitcoins if the price is way lower than it is today. Why do you think none of the people who made ASIC raised the funds totally outside the bitcoin community? I think many thought about it, but actually doing so may be a lot harder that it seems.  If you think it's that easy go ahead and do it yourself. Find a good team of ASIC developers, find someone with money and start mining for yourself

If i understood correctly they aren't doing a full custom ASIC chip. They are doing a hard copy from a FPGA one and that seems to be a lot easier and a lot cheaper to do than a custom one.

P.S. of course they can run tomorrow with the money, but the probability is a lot smaller than BFL let's say.

Edit: TheSwede75 i know bitcoin it's the hottest thing, but comparing to any other real life business i still think that there are a lot more skeptics when it comes to this. What amount of money do you say it could be easily funded for a bitcoin business?

Its not about mining $50m instantly, its a fucking investment. You need to do some googling on funding rounds mate.

[600watt]

but appearantly soemone is mining with batch II and batch III.

and they may ship their chips very close after batch III, leaving batch III fools (like me) in the rain. what kind of ideology is this ?   

[erschiessen]

dogie,
He raised the money to make B1 by selling pre-orders.

He claims to wish to be a chip manufacturer... in reality he is a chip reseller,
If he was as altruistic as you claim, he would NOT charge markupsmas they currently are.

[dogie]

dogie,
He raised the money to make B1 by selling pre-orders.

He claims to wish to be a chip manufacturer... in reality he is a chip reseller,
If he was as altruistic as you claim, he would NOT charge markupsmas they currently are.

xD He is funding the next generation of chips, you're really really far behind.

[67152398]

No KNC latest news?

[ujka]

and they may ship their chips very close after batch III, leaving batch III fools (like me) in the rain. what kind of ideology is this ?   

With your Avalon batch 3 shipped this month or even next, you can easy mine 150 btc in a year. Avalon chips will be only ~150 Thash and not added in an instant to the network.

[erschiessen]

dogie,
He raised the money to make B1 by selling pre-orders.

He claims to wish to be a chip manufacturer... in reality he is a chip reseller,
If he was as altruistic as you claim, he would NOT charge markupsmas they currently are.

xD He is funding the next generation of chips, you're really really far behind.

Why is that?
Because he wishes to sell them?
The tripling of Batch #3 price... where did all those BTC go?

[600watt]

and they may ship their chips very close after batch III, leaving batch III fools (like me) in the rain. what kind of ideology is this ?   

With your Avalon batch 3 shipped this month or even next, you can easy mine 150 btc in a year. Avalon chips will be only ~150 Thash and not added in an instant to the network.

this i doubt very very much. after knc they will not do much good. an avalon batch III will mine around 100 btc until the end of the year. if it is shipped soon.

if you believe it will be more - feel free to buy my shares of two avalon batch III projects i am selling. (https://bitcointalk.org/index.php?topic=169095.0 , https://bitcointalk.org/index.php?topic=158992.0)

[dogie]

dogie,
He raised the money to make B1 by selling pre-orders.

He claims to wish to be a chip manufacturer... in reality he is a chip reseller,
If he was as altruistic as you claim, he would NOT charge markupsmas they currently are.

xD He is funding the next generation of chips, you're really really far behind.

Why is that?
Because he wishes to sell them?
The tripling of Batch #3 price... where did all those BTC go?

To pay for next gen to secure the network. I'm not claiming anything, this is from him.

[ujka]

...
this i doubt very very much. after knc they will not do much good. an avalon batch III will mine around 100 btc until the end of the year. if it is shipped soon.

if you believe it will be more - feel free to buy my shares of two avalon batch III projects i am selling. (https://bitcointalk.org/index.php?topic=169095.0 , https://bitcointalk.org/index.php?topic=158992.0)

I'm hardly any good in understanding english, can you PM me, what your shares are about?

[blastbob]

For those who is interested.

[ElGabo]

I think they are waiting for bank transfers. In my case, I got the invoice on the 6th of june, I have to make conversions at my bank wich are really slow. I started it on last friday and I can send the money to KNC tomorrow, and it takes about 3 or 4 days to arrive at KNC's account. Wire transfers are really slow....

[rizzman]

@FloridaBear,
Anywhere near south florida?

Fort Lauderdale here

Im up in Deerfield Beach myself!

Sweet!, Did you order any units?, If so let me know, maybe we can create a local pool, send me a PM when you get a chance

[FloridaBear]

@FloridaBear,
Anywhere near south florida?

Tampa Bay area...Bradenton actually.

[KS]

It's scary that 3 Jupiters can make 149k a month at current difficulty

Unfortunately, that's not going to last.

Avalon is shipping 500K chips (150T) and will start delivering the batch2/3 (solved shipping, solving the rest AFAIK) for another 80-100T. ASIMINER will have to add, say, another 50T to keep their share.

I'm not even counting Bitfury et Al. and that's already 280-300T more (about 3x difficulty).

KNCMINER might add another 300-500T, so we end up at ≃ 700 - 900T or 7x/9x difficulty. KNCMINER is arriving supposedly slightly AFTER Avalon et Al. so it's aleady more like 50K. Still not bad but the BTC might take a dive "real soon now (TM)" AND all the KNCMINER miners are supposed to arrive in a very short timeframe so it will look more like 7-15K and your payback period is already in months, not days. And Avalon has already announced their v2 ASIC.

Going all out in KNCMINER or any other is quite foolish ATM. Thinking KNCMINER will be the end all and be all of ASICs is also foolish. They haven't even shipped yet and the competition is already on to their v2...