CoinMonk - Invest in Bitcoin Mining

[americandesi]

Xcrowd building ASIC miners...new kid on the block or future friedcat?  Who knows...

https://bitcointalk.org/index.php?action=profile;u=95536;sa=showPosts

Good find. I assume this will churn out as much as a Jally in 4-5 months.

I doubt it. They are still new and they are still looking for Chip design engineers. They don't even have a team at the moment (excluding 3 investors).
They have posted job ads on the forum as well.

So it is a long way to go for them. I would not rely on them if you are looking at adding hashpower to a mining company.
coinmonk needs something like bitfury and knc. The smaller ones are suited more for single handed mining i feel..

my 2 satoshi's :-)

[infonetenergy]

Check this out, very useful:

https://bitcointalk.org/index.php?topic=234025.msg2596866;boardseen#new

[Pinwheel]

Check this out, very useful:

https://bitcointalk.org/index.php?topic=234025.msg2596866;boardseen#new

that is quite obvious for any one who is considering spending on ASICs. Practically it is demand driven price. what is need to be considered and it is most important, when this devices will be available, if at all it will be available.

[neophyte]

are you referring to this http://www.bitfury.org/bitfury110.html
It is stated as 3 phase power input and 10KW rating in the specs
I don't think it is power effecient.

[Pinwheel]

are you referring to this http://www.bitfury.org/bitfury110.html
It is stated as 3 phase power input and 10KW rating in the specs
I don't think it is power effecient.

it is old FPGA unit

[infonetenergy]

bitfury strikes back:

http://www.bitfurystrikesback.com/

http://www.bitfurystrikesback.com/product/400gh-miner-august-2013/

[xcrowd]

Hi

Our initial team is in place but hiring is always ongoing. Keep an eye out for the updates next week to learn more about our actual progress. Good luck with your own venture, we need to see a rapid exponential growth rate in India if Bitcoin is to have a future.

Xcrowd building ASIC miners...new kid on the block or future friedcat?  Who knows...

https://bitcointalk.org/index.php?action=profile;u=95536;sa=showPosts

Good find. I assume this will churn out as much as a Jally in 4-5 months.

I doubt it. They are still new and they are still looking for Chip design engineers. They don't even have a team at the moment (excluding 3 investors).
They have posted job ads on the forum as well.

So it is a long way to go for them. I would not rely on them if you are looking at adding hashpower to a mining company.
coinmonk needs something like bitfury and knc. The smaller ones are suited more for single handed mining i feel..

my 2 satoshi's :-)

[dashingriddler]

Update:
I paid for 2 avalons. it is batch3 88ghs each. john is working as escrow.
We have 300 bfl chip credits now. planning to order chips if btc can goto 100 usd so that we will pay less btc for the chips.
Mold for the physical coin is ordered and paid for. we can expect to have physical coins in hand in next 8-10 days.
I may have a conference call with pcb manufacturers today. i will update u how it goes if it happen

[Pinwheel]

Update:
I paid for 2 avalons. it is batch3 88ghs each. john is working as escrow.
We have 300 bfl chip credits now. planning to order chips if btc can goto 100 usd so that we will pay less btc for the chips.
Mold for the physical coin is ordered and paid for. we can expect to have physical coins in hand in next 8-10 days.
I may have a conference call with pcb manufacturers today. i will update u how it goes if it happen

good progress, how much did you paid for avalons.

I have 32 chips credits, PM if interested.

[dashingriddler]

211 + 8btc for shipping with full insurance
I am not looking for chips credits at the moment. have 300 credits that can be split into 100 + 100 + 100. So just waiting for btc to go up a bit Surely i will get hold of u when i need more credits

[Pinwheel]

in not so long time we can be in 500163608.0 diff I think I can pass that and stay in mining with minimum of 4.5 trh, better would be to target 10trh. if now 1trh cost around 20K usd so from  here is fundraising target 200K usd, doible. trowing more cash in, while casing profit.

[dashingriddler]

I have ordered 100 bfl chips today I hope they ship fast

There is a news update from Avalon

Understandably, batch three has been overdue for a few weeks, whilst shipping is due to start Monday, and finish within 2 weeks. Those who do not wish to wait can fill out the form for a refund, please note the deadline for these refunds is before the 14th, once we start shipping we will not be honoring any refunds that gets posted.

So our order is not too far away from being shipped

I did have a long discussion with PCB manufacturers and i m facing lot of questions from them for which i do not know the answers. I have asked them to email me all their questions and i m waiting for it.

[Pinwheel]

I have ordered 100 bfl chips today I hope they ship fast

BFL chips delivery is 100 days, am I right. you pay 50% then next 50% before delivery.

You can buy better chips now in July from BitFury and you can order Avalons for 90btc from Avalons clones maker who already has chips.

your talks with Indian PCB manufacturer is waste of time, you will learn it after some time.

[dashingriddler]

Yes bfl chips need 100 days to deliver and we pay 50% now and rest just before delivery. but costwise these are more competitive (chip level and also completed pcb board level) than avalon ones and also draws less power.

I still do not have 100% confidence with bitfury until they really deliver what ever they are promising but surely that is an option. Well i could get two avalons for 211 btc that are of 4 modules each. so i am not surprised to see clones for 90btc each. Also as far as i know, avalon has only delivered samples but are yet to ship lots of 10000 chips to buyers - am i lagging behind in news regarding this?

Well the pcb manufacturer seems very optimistic. it is basically a team of 12 people who do everything upto assembly and implementation. its too early for me to lose hope on this one.

[Pinwheel]

time is main factor here. you are buying outdated equipment with delay in delivery time, it will worth near nothing when you will receive it. If you can get avalon clones now and cheaper why to wait for batch 3, nobody knows when it will be shipped, if it will be shipped at all, taking in account very bad avalons customers service and now probably split in avalon team.

run your numbers before ordering anything. what your avalons will give per month, after one month waiting. any idea, no?  166ghs hashing power will give you 1.34 btc per day. You will do much better by putting this money into ASICMINER-PT shares.

BitFury already have chips in 55nm and boards and it been all verified by community. You can buy starter kit now with delivery in August and in October increase power up to 400ghs by paying fraction of what you paid for Avalons. 200btc in BitFury will give well over 1trh.

If you are managing investors money, you will do better by spending more time on it and reading more.

[americandesi]

time is main factor here. you are buying outdated equipment with delay in delivery time, it will worth near nothing when you will receive it. If you can get avalon clones now and cheaper why to wait for batch 3, nobody knows when it will be shipped, if it will be shipped at all, taking in account very bad avalons customers service and now probably split in avalon team.

run your numbers before ordering anything. what your avalons will give per month, after one month waiting. any idea, no?  166ghs hashing power will give you 1.34 btc per day. You will do much better by putting this money into ASICMINER-PT shares.

BitFury already have chips in 55nm and boards and it been all verified by community. You can buy starter kit now with delivery in August and in October increase power up to 400ghs by paying fraction of what you paid for Avalons. 200btc in BitFury will give well over 1trh.

If you are managing investors money, you will do better by spending more time on it and reading more.

I second this thought. I have 3 X 25 Gh/s Butfury Miners (August Delivery) orders with them. They look promising. Their chip prototype video posted yesterday is a good progress. Am planning to increase atleast 1 or 2 miners to 400 Gh/s by Oct.

Somehow avalon is not getting me excited. People who trusted avalon like terrahash and others are under constant accusation that they are scammers. i don't want to put money into some company who is dependent on someother company's delivery (Terrahash and avalon clones).

And BFL. Forget about it.! They are full of lies. Josh mentioned that they will be doing about 400 units / day in June 2013 and would be working hard to ramp up to 600 units / day.
Looking at their progress, i doubt if they are doing it. Their production turnover ratio of Pay date to Ship date is around 0.7. I had a sample Jala order placed in April 2013 and by this rate i think i will get it by end of this year. By then, i think it will be just a paperweight. I don't think i will get the ROI even by  mining alt coins with it.

[dashingriddler]

I agree with americandesi and i have similar philosophy. i do not want to order something where that company is inturn depending upon another company for a bitcoin specific component (i m fine if they depend for outer case, fans or PSUs etc). This is one of the reasons that will want me to keep out avalon clones at this point of time.
Avalons has put out news that says they will start pushing out batch #3 orders on monday (14th july) and will complete with in 2 weeks time. After this they will start producing single modules of 22 ghs and start selling them off the shelfs. I hope their plan works out in this way.
On the other hand, i dont want to put all eggs into same basket. i m trying to diversify as much as possible. The profitability of mining is already marginal unless u have already purchased a miner for low cost is a known fact. All mining equipments are not priced based on the cost needed to product them but based on how much profit it will bring to end consumer. so greater cream of the profit is already taken by miner manufactures than the end customer. on the other hand, people who have got miners in their hand for which they paid less price will look forward to sell the miner at an high price. so according to me, most of people who are mining are doing it for marginal profits and are yet to reach their ROI.

[dashingriddler]

Based on the estimates i have received from my pcb manufacturer, we will be able to develop the bfl chip based mining device that is mining at 32 ghs for approx 42,000 INR. So it is still looking like a good deal to me even if the difficulty increases at the rate of 15% every 15 days for next 4 months.

[infonetenergy]

BitFury already have chips in 55nm and boards and it been all verified by community. You can buy starter kit now with delivery in August and in October increase power up to 400ghs by paying fraction of what you paid for Avalons. 200btc in BitFury will give well over 1trh.

+1

Looking into bitfury as well...

[infonetenergy]

2x 88 Gh/s Avalon miners recently added to CoinMonk Bitcoin Mining Farm.  

CoinMonk is now supporting 1/1000th of total bitcoin network.  

Initial Testing:



Night Vision:



PCB development for BFL chips is also under progress.  First prototype expected before end of September.