Singapore

[pitan]

Yea will almost never have ROI... No worry I'm an informed consumer Lol...

[ninjaboon]

Yups I will update on the blog as it moves along.
Please make sure you understand the ROI on these devices.
It is extremely difficult to make profit on them but they are good as novelty items or if you have free power.

I am just doing this as a service to the bros in sg/my and not out to profit.  Just some kopi $ Im happy liao.

I'm happy to just run a mining-less node to support the BTC economy. I've sent you an email. I wanna get some miners.

[bengx]

I did some calculations with the following assumptions:

a) We get the miners within 2 months
b) The average difficulty change is 1.15x (15%)
c) Miner is running 24/7
d) Pool doesn't charge fees. So if they do, just have to deduct the appropriate %.
e) Free electricity!

So with that, it seems that revenue will flat-line at around the 60th week to give a cumulative sum of around 0.333BTC. So uh, know what you're getting into before placing an order!



Edit: I can adjust the data accordingly if the miners are delivered, say, a month from now instead. Still looks bleak though.

[ziptie]

knc looks like a good deal if they ship first.  BFL has been at the front of controversy since the start of their announcement.   Lucky I never order from them.

I agree that KnC appears to be much more professional than others in terms of engineering and marketing, but imagine the amount of power they intend to introduce into the bitcoin network.  The guy that is first in line bought one saturn and one jupiter.  That's over $11,000 USD with shipping.  At the targeted chip power, this guy would be able to do 600 GH/s, generating $49,305 USD per month at today's difficulty.  There are a couple of problems with this scenario that don't jive with common business instinct.  To protect mining profitability, builders must control how much computing power they release on the network rather than distribute as much as possible as quickly as possible.  This is the problem that affected BFL.  They sold as much as possible without ever intending to ship everything immediately.  If ASICs were distributed widely and cheaply, mining profitability would return to previous levels for everybody, neither the miners nor the engineers would have extraordinary ROI.  So, right now we have sort of a lottery situation, where the developers and early investors profit the most.  Late adopters of ASIC mining will experience the same profitability they had with GPU's last year.  The other issue concerns the future of bitcoin itself.  If KnC or any other company can deliver in quantity, they are also in a position to hijack the blockchain.  I believe that ASICMiner has the ability do a 51% attack today, they just won't because it would topple the house of cards.  It's better to milk the cow for many years rather than kill it for steaks.  In the current situation, the future of bitcoin is controlled by a few powerful entities such as BFL, MtGox, Avalon, and ASICMiner.  Others may join the ranks soon.  As long as they don't screw up royally, the currency remains useful, but if a large disturbance in the force were to occur (borrowing from star wars), the value of the coin could easily go back to nothing.

[derekleong75]

Hi Everyone,

I am now running 2x group buys at sgminingconsortium.wordpress.com.

They are for :
Block Erupter USB ASICs - 2/50 commited so far.
0.5 BTC Casascius Coins (new!)

Please feel free to drop by and take a look and join in if interested.  If you are in the market for these items, you may want to know that I am not doing the group buy for pure profit and thus the prices are (I'm pretty confident) the lowest around just for MY/SG folks only.

Regards.
Derek

[ziptie]

I am now running 2x group buys at sgminingconsortium.wordpress.com.

Hi Derek,
I might be interested in a group buy of klondike boards from bkkcoins or Bicknellski.  I like what they are doing, they're local, and they estimate 4 GH/s < $300.

https://bitcointalk.org/index.php?topic=190731.0
https://bitcointalk.org/index.php?topic=190731.0

[worldinacoin]

Still feeling that we should have an SGCoin, anyone interested to join me?

[pitan]

Still feeling that we should have an SGCoin, anyone interested to join me?

PMed

[derekleong75]

Anything I can help for SGcoin?

[derekleong75]

I am now running 2x group buys at sgminingconsortium.wordpress.com.

Hi Derek,
I might be interested in a group buy of klondike boards from bkkcoins or Bicknellski.  I like what they are doing, they're local, and they estimate 4 GH/s < $300.

https://bitcointalk.org/index.php?topic=190731.0
https://bitcointalk.org/index.php?topic=190731.0

Yups I am following them too and emailed Darin a few times.  Last I heard they are group buying avalon chips. 

[John (John K.)]

-----BEGIN PGP SIGNED MESSAGE-----
Hash: SHA1

I confirm the receipt of the documents below. Please note that I am not a professional nor trained in verifying documents given, so I cannot gurantee that they're 100% authentic or came from the original owner.

1. Photo of derekleong75's Identity Card
2. Scan of derekleong75's utility bill

I promise the safe destruction of the data after the successful completion of the group buy. The data received may be divulged for litigation purposes if needed.

Thanks,
John
28 June 2013
-----BEGIN PGP SIGNATURE-----
Version: GnuPG v1.4.11 (MingW32)
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=ii24
-----END PGP SIGNATURE-----

[worldinacoin]

Still feeling that we should have an SGCoin, anyone interested to join me?

PMed

Still feeling that we should have an SGCoin, anyone interested to join me?

Not too sure how we want to proceed also, let me work it out
PMed

[bengx]

http://www.straitstimes.com/breaking-news/singapore/story/lower-electricity-tariffs-due-lower-cost-natural-gas-20130628

"For the third quarter of this year, the electricity tariff for households will decrease by 2.8 per cent from 26.70 to 25.95 cents per kWh. The average monthly electricity bill for families living in four-room Housing Board flats will decrease by $3.80."

Urm, yay!

[worldinacoin]

Group Buy #1 - Block Erupter USB

Hi all,

I have started a group buy for the USB Block Erupters since they are now lower in price.
Group buy open to SG/MY only.  I have posted it on my blog at http://sgminingconsortium.wordpress.com for easy updates.
Please take a look and support me if you are in the market for some.  Feel free to PM me as well for any queries.

Regards.
Derek

Bro, also can have a way to update so we know how many to the target 50 PCs?

I don't really understand the usb eruptor, where do we find so many USB slots to plug if say we want to run 10?

[bengx]

Group Buy #1 - Block Erupter USB

Hi all,

I have started a group buy for the USB Block Erupters since they are now lower in price.
Group buy open to SG/MY only.  I have posted it on my blog at http://sgminingconsortium.wordpress.com for easy updates.
Please take a look and support me if you are in the market for some.  Feel free to PM me as well for any queries.

Regards.
Derek

Bro, also can have a way to update so we know how many to the target 50 PCs?

I don't really understand the usb eruptor, where do we find so many USB slots to plug if say we want to run 10?

USB Hubs lor haha

[derekleong75]

To be precise, powered usb hubs. You can buy from sim lim 6th floor at $32 a hub for usb 3.0 hubs having 8 slots I think.

[worldinacoin]

Group Buy #1 - Block Erupter USB

Hi all,

I have started a group buy for the USB Block Erupters since they are now lower in price.
Group buy open to SG/MY only.  I have posted it on my blog at http://sgminingconsortium.wordpress.com for easy updates.
Please take a look and support me if you are in the market for some.  Feel free to PM me as well for any queries.

Regards.
Derek

Bro, also can have a way to update so we know how many to the target 50 PCs?

I don't really understand the usb eruptor, where do we find so many USB slots to plug if say we want to run 10?

USB Hubs lor haha

Paisey Paisey, outdated liao

[andrewsg]

Any interest in a Singapore bitcoin meetup? It's a small place, how hard can it be?

[legitnick]

Theres a ton of Singaporean users! Thats great 

[worldinacoin]

Theres a ton of Singaporean users! Thats great 

You hurt my feelings , I am on diet you know?