Singapore

[pitan]

http://www.channelnewsasia.com/news/business/international/us-studying-risk-from-online-payment-pro/696412.html

Haha even our very own CNA is reporting on it now

[derekleong75]

Sekali PAP impose some regulation.
Anyway on FYB recently need verification for 1K and above balances.
I think MAS scared money laundering.

Anyway I am currently mining with 2x 7970 around 1.3GH.

[pitan]

Oh OK ya... All those AML rules...

[KSV]

hey guys good to see you fellows here....another miner checking in

[worldinacoin]

Nice to meet you all, I am from Singapore too.

[pitan]

Woo we are picking up steam.... Com'on everyone from Singapore post here then we can have a list of Singaporean member 

[worldinacoin]

I have been mining for quite sometime, there aren't a lot of Singaporeans in Bitcoin .  But really glad to see more here and also our own exchange coming up nicely.   Lets try to support the exchange as best as possible.  Cheers!

[pitan]

I have been mining for quite sometime, there aren't a lot of Singaporeans in Bitcoin .  But really glad to see more here and also our own exchange coming up nicely.   Lets try to support the exchange as best as possible.  Cheers!

Ya +1

[Coldfats]

Just sold all my gpu's in Singapore ... now I am gpu-less. Mining has ceased, my office is cooler, and powerbills are down lah

Just waiting for ASIC's to arrive now ... one day.

Ya asic, waiting too... OK will try FYB

Where did you guys order your ASICs from? Power in sg damn ex leh compared to the US. like 25us cents per kw/hr as opposed to US around 15cents I think.

Also, any idea who is behind the Singapore exchange?

And I think people in SG are pretty tech savvy but we really have a very small emphasis on computer science in our unis. That's also why we're not able to get start-ups off the ground even though PAP keeps giving grants and has such a big emphasis on entrepreneurship. I think. Thoughts?

[pitan]

Asic is too risky now too many pre orders and too many not delivering yet so if you ask me too risky. I have order none maybe the rest could point you in the right direction

For who is behind Singapore exchange check thread below.
https://bitcointalk.org/index.php?topic=134340.0

As for the part of computer science, our government trying too hard to be everything but none done really well is just a matter of fact in SG. If we would to start a bitcoin business full scale the MAS will be all over us, remember we are a "controlled" democratic state...

[bengx]

Actual cost of electricity here is 26.70 cents per kWh. I think it's still cheaper than Australia though.

[pitan]

Lol... Actual amt siaz, need to be so Singaporean bo  
But honestly mining difficult la unless we can get asic cheaply if not forget it ROI will take forever

[worldinacoin]

Lol... Actual amt siaz, need to be so Singaporean bo  
But honestly mining difficult la unless we can get asic cheaply if not forget it ROI will take forever

Can't find a stable ASIC Bitcoin rig atm.   Also they are still quite expensive.  One perpetual problem is changing of technology, a new generation of ASICs will definitely be cheaper and fast and the increasing difficulty of Bitcoin mining, the Bitcoin hashes is now 120 Th/s, when I was mining, the difficulty hardly hit 10 Th/s.  Yeap Australia electricity is more expensive, but being winter time now at least you can save up on heating, you can't say that in Singapore .

[pitan]

Ya... So we have to let the advancement of technology take its course.
I was actually going to mine with GPU but after doing my calculations I think I will be better off trading.
But then again might just build a rig for fun.
I was thinking build an overkill rig
Maybe 4-6x7990 or 4-6 7970 its gonna cost a bomb but at least if I get bore of it I can pull it apart and sell it pcs by pcs.
I think AMD won't be coming out with any new GPU soon

So all the experience ones which GPU 7990 or 7970 or others?

[worldinacoin]

Ya... So we have to let the advancement of technology take its course.
I was actually going to mine with GPU but after doing my calculations I think I will be better off trading.
But then again might just build a rig for fun.
I was thinking build an overkill rig
Maybe 4-6x7990 or 4-6 7970 its gonna cost a bomb but at least if I get bore of it I can pull it apart and sell it pcs by pcs.
I think AMD won't be coming out with any new GPU soon

So all the experience ones which GPU 7990 or 7970 or others?

Not really expensive, buy the 2nd hand GPUs from Ebay or here.   Or may Newegg as they always have special promotions.  The cooling and electricity is the real problem.  If you can get a cheap space at a local data center that will help save up.  Of course, providing they are willing to colocate your machine which will eat up their power.

[kevinm]

Hello you guys accross the water,
I think I am Batam's only miner, based in Nagoya   
Batam power cost is 10c Kw/h
I am running 3 rigs @ 4 x Sapphire 7970
1 rig @ 4 x Sapphire 7950

I am awaiting delivery of ASIC's and may have some of the above for sale in near future if anyone interested, all bought via Singapore and got all receipts etc. We could also discuss "hosting" if anyone interested.

cheers,
kev

[worldinacoin]

That would be interesting, is there any IDC in Batam?

[kevinm]

Hi WC,
I take it by IDC you mean something like this:

http://www.pcworld.com/article/2040281/idc-server-market-revenue-down-77-percent-in-q1.html

Answer to that is No, not that I am aware of.
I know an expat guy who is in the Telecoms industry here so I will check it out with him.

cheers,
Kev

[derekleong75]

Kev what asics u bought and specs/price.
I bought some eruptor usb to add to my gpu rigs which I host at work so power is free.
But if big asics are avail I will share cost with friends to bring them in.

[derekleong75]

Pitan, 7990 is overkill for the price unless you really need to save space and power.
I checked sim lim no one got 7990 avail also.  Was thinking of getting one to scrypt hash but then again too expensive.