-

[BKM]

.... Second, let us know if you do decide to sell old BFL gear.  I'd be interested, if the price is reasonable.  (i.e. There would have to be a reasonable chance that I could make back the cost)  Although if you're getting power as cheap as you say, it might make more sense for you to keep them.

My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.

[grnbrg]

.... Second, let us know if you do decide to sell old BFL gear.  I'd be interested, if the price is reasonable.  (i.e. There would have to be a reasonable chance that I could make back the cost)  Although if you're getting power as cheap as you say, it might make more sense for you to keep them.

My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.

Personal, not LRM opinion:

It might depend on the volume of hardware, and the number of items in each purchase.  Packaging and shipping old hardware in ones and twos will take up a lot of time and energy.

What might make most sense is "Hey, LRM people!  Free, old mining hardware.  Pickup only, from my garage, which is nowhere near the DC!  Hey, Kijiji people!  Old mining hardware, $50 each.  Pickup only, from my garage!"


grnbrg.

[M31]

.... Second, let us know if you do decide to sell old BFL gear.  I'd be interested, if the price is reasonable.  (i.e. There would have to be a reasonable chance that I could make back the cost)  Although if you're getting power as cheap as you say, it might make more sense for you to keep them.

My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.

What about when it comes to a buying round, we are offered to chip in (say, US$100k), lowering the price by increasing the volume?  Do it kickstarter style, such that if a minimum dollar value is not reached, the deal will not go through.

That way we get more LRM equipment for the same cost, plus for anyone wishing to run their own equipment they get the best deal possible.  

This probably complicates things for LR/Dave, so maybe it's not a good idea, but if the savings are large enough it might be worth thinking about.

[CumpsD]

Lab_Rat, in the new venture LRM is involved in, can you tell us what % share LRM has in the new company?

I am interested to know how the new venture benefits LRM shareholders, besides getting access to cheaper HW due to volume. Will profits from the mining by dividend amongst shareholders and thus divided to bond holders?

[mufa23]

.... Second, let us know if you do decide to sell old BFL gear.  I'd be interested, if the price is reasonable.  (i.e. There would have to be a reasonable chance that I could make back the cost)  Although if you're getting power as cheap as you say, it might make more sense for you to keep them.

My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.

+1 Sounds like a solid idea. I'd like LRM to get the most it can.

[spuushie]

I was wondering if that old HW could mine some altcoin. That would go directly towards new HW. But I guess they draw to much electricity to be worth while?

[oldbushie]

Considering ASICs can't mine scrypt...

[fractal02]

Considering ASICs can't mine scrypt...

Not anymore...
See Gridchip thread, Asic chip hashing at 70kh/s

[Frankthechicken]

If LRM's power cost is going to be sub $0.02 / kwh, probably all the old hardware will remain profitable for a long time to come as long as it doesn't become a maintenance issue (or physically get in the way of beefier hardware).  Once it breaks or starts flaking out, either recycle or send to a good home for cost of shipping.

As far as SHA-256 alts, not sure if any are promising, but all the ones listed on comparison sites are almost always less profitable than bitcoin.

Those scrypt ASICs, while neat and a good POC, just don't seem appealing yet, especially when cheap power is available.

[grnbrg]

Considering ASICs can't mine scrypt...

Not anymore...
See Gridchip thread, Asic chip hashing at 70kh/s

Fine.  Bitcoin ASICs can't mine scrypt.  


grnbrg.

[brox]

Considering ASICs can't mine scrypt...

Not anymore...
See Gridchip thread, Asic chip hashing at 70kh/s

Fine.  Bitcoin ASICs can't mine scrypt.  

grnbrg.

Actually, bitcoin ASICs aren't supposed to mine scrypt. But you can't prove scrypt and existing double-sha chips have no weaknesses that can be exploited

[Jolest]

One could go so far to say that it would be a complete and total conflict of interest.

This is why I'm not owning any hardware ever again... I've spoken to my lawyer and we both agree I can't compete with the company.  In this case it's resulting in a contribution to the company so I see this particular case to be in the company's interest rather than against it.

Thanks for this clarification.  It helps us to know what your position is regarding you owning mining equipment.

FWIW, I agree with both parts of your assessment (regarding acquiring equipment on short notice when a good opportunity presents itself -and- using that equipment short-term to reimburse your expenses for acquiring said equipment if it can't be done directly from company assets).

[pistachiotuque]

overpayment of dividends sent, txid c87b657c604b67e8db7da70402604dcce2621e97a3980970a02e2eb3efcffbb5-000

 

[Lab_Rat]

Dividends went out.  To those of you who received a small amount or 0 remember that this week as well as a few people in weeks to come are repaying last weeks overpayment.

Mined: BTC31.80006408
Payout: BTC23.85004806
Per Bond: BTC0.000405668

These will see a slight increase this week despite the upcoming diff increase hopefully as I'm adding more hardware.

The coming weeks will be on the low side as is expected, but with an immenent ~180TH by the first or second week of March this will change rather abruptly.

Altcoin update:

NMC: 3567.86305903
IXC: 887.61781214
DVC: 32278.45217148

Reffered GHS: 9.45163718

[inspiredinvestor]

Dividends went out.  To those of you who received a small amount or 0 remember that this week as well as a few people in weeks to come are repaying last weeks overpayment.

Mined: BTC31.80006408
Payout: BTC23.85004806
Per Bond: BTC0.000405668

These will see a slight increase this week despite the upcoming diff increase hopefully as I'm adding more hardware.

The coming weeks will be on the low side as is expected, but with an immenent ~180TH by the first or second week of March this will change rather abruptly.

Altcoin update:

NMC: 3567.86305903
IXC: 887.61781214
DVC: 32278.45217148

Reffered GHS: 9.45163718

look forward to march! what is the plan for the alt coins?
 

[Endlessa]

Why doesn't reflect all of our hashrate yet?



"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"

Edited:  Uploaded static copy of the above image.  Bitcointalk didn't like the dynamic version.

I think he decided not to move more HW there. Because they have over 40% of the network.

This ^^^  The rest is on other pools ready to be moved over once GHash starts sliding back on % a little more.

I hope we move off to some pool that's healthier for the network.  our new hardware should not be contributing to the hashrate of GHash.io . . .imo, there are other pools that can give us namecoin and not be a problem for bitcoin . . . and less fees

[M31]

Why doesn't reflect all of our hashrate yet?



"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"

Edited:  Uploaded static copy of the above image.  Bitcointalk didn't like the dynamic version.

I think he decided not to move more HW there. Because they have over 40% of the network.

This ^^^  The rest is on other pools ready to be moved over once GHash starts sliding back on % a little more.

I hope we move off to some pool that's healthier for the network.  our new hardware should not be contributing to the hashrate of GHash.io . . .imo, there are other pools that can give us namecoin and not be a problem for bitcoin . . . and less fees

Hey Endlessa - I always look forward to your replies here, especially the highly technical ones.  Just wondering if you ever managed to crunch the numbers on when our own pool would be a good idea?  It seems that with Merlin's combined force, our own pool would be an obvious choice -- then we can set it up as we wish

[BKM]

Dividends went out.  To those of you who received a small amount or 0 remember that this week as well as a few people in weeks to come are repaying last weeks overpayment.

Mined: BTC31.80006408
Payout: BTC23.85004806
Per Bond: BTC0.000405668

These will see a slight increase this week despite the upcoming diff increase hopefully as I'm adding more hardware.

The coming weeks will be on the low side as is expected, but with an immenent ~180TH by the first or second week of March this will change rather abruptly.

Altcoin update:

NMC: 3567.86305903
IXC: 887.61781214
DVC: 32278.45217148

Reffered GHS: 9.45163718

Quick back of the spreadsheet calculations based on an assumed +20% difficulty step rate results in an estimated difficulty of 4,582,549,082 on reaching 180 TH/s which would yield a dividend level of BTC0.001779661 per bond..... looking forward to that!

LR, please comment on what is in the pipeline after March? With the plethora of 28 nm gear due on the market at that point will be begin to see monthly deployments of hardware?

From March forward do you intend to grow our % of the network or is it your expectation that we will "tread water" or go backwards? Note that I reference the % of the network and not the amount of deployed hashrate. Based on a constant 20% rate of increase in difficulty our 180 TH/s will need to be 8.6 PH/s after 26 steps just to be par....

[CumpsD]

Dividends went out.  To those of you who received a small amount or 0 remember that this week as well as a few people in weeks to come are repaying last weeks overpayment.

Mined: BTC31.80006408
Payout: BTC23.85004806
Per Bond: BTC0.000405668

These will see a slight increase this week despite the upcoming diff increase hopefully as I'm adding more hardware.

The coming weeks will be on the low side as is expected, but with an immenent ~180TH by the first or second week of March this will change rather abruptly.

Altcoin update:

NMC: 3567.86305903
IXC: 887.61781214
DVC: 32278.45217148

Reffered GHS: 9.45163718

Could you please take time to spend some minutes again answering forum questions

Lab_Rat, in the new venture LRM is involved in, can you tell us what % share LRM has in the new company?

I am interested to know how the new venture benefits LRM shareholders, besides getting access to cheaper HW due to volume. Will profits from the mining by dividend amongst shareholders and thus divided to bond holders?

[oldbushie]

Hey Endlessa - I always look forward to your replies here, especially the highly technical ones.  Just wondering if you ever managed to crunch the numbers on when our own pool would be a good idea?  It seems that with Merlin's combined force, our own pool would be an obvious choice -- then we can set it up as we wish

I still say P2Pool would be a great option, especially since it would encourage a lot more people to come back to it. Variance has been getting worse lately, we need a bump in hash. Note that's p2pool.info, not p2pool.org.