HashStorm Kickstarter

[HashStorm]

Hey guys, my partners and I are getting ready to launch a Kickstarter campaign to go along with our private investor funding for a new mining as a service company HashStorm. We were tired of seeing all the total rip offs on the internet such as Cloudhashing and decided to create our own with fair prices. We are doing a Kickstarter so we can work on the website as we raise funds and we would appreciate any feedback from the people on this forum before we launch our project. Any and all feedback is welcome. Thank you.

http://www.kickstarter.com/projects/2062160398/1410472640?token=7d97c559

[🏰 TradeFortress 🏰]

You don't just make ASIC hardware out of no where, it takes millions of dollars of investment and about a year of R&D.

People WILL lose money with this.

[🏰 TradeFortress 🏰]

When will you deliver your hardware?

[HashStorm]

I apologize if it wasn't clear but we are not making our own ASIC chips. We have already arranged a deal with a one of the companies already producing ASIC miners and we understand the amount of money that needs to go into something like this which is why we are currently in talks with private investors.

[🏰 TradeFortress 🏰]

I apologize if it wasn't clear but we are not making our own ASIC chips. We have already arranged a deal with a one of the companies already producing ASIC miners and we understand the amount of money that needs to go into something like this which is why we are currently in talks with private investors.

Is that Butterfly Labs?

[HashStorm]

We are a mining as a service company, we buy our own hardware and sell people hashing power. We host the units ourselves pay people the amount of Bitcoins their amount of hashing power (ex. 1 GH/s, 5GH/s, ect..) produces. Also it is not Butterfly labs, the chips their machines use have practically become outdated at this point.

[🏰 TradeFortress 🏰]

That's funny, because they are using 65nm while Avalon is 110 nm and ASICMINER is 130 nm.

When do you estimate your customers will get ASICs?

[HashStorm]

Yes, and KNC is using 28nm. We're excepting to be up and running sometime in November.

[🏰 TradeFortress 🏰]

Yes, and KNC is using 28nm. We're excepting to be up and running sometime in November.

The total mined coins of 2 GH/s running in November assuming $0 power costs will be ~0.5 BTC ($45 or so), at current difficulty increases. If KNCMINER ships you will get around 0.1 BTC.

Not a scam but anyone who invests will lose money. If you try to pull the BTCUSD card: people can simply invest in BTC instead and not lose money.

[chsados]

If you want people to invest you are going to have to disclose much more detail on where you are manufacturing these chips, when you expect to get them, their specs, etc.

[🏰 TradeFortress 🏰]

If you want people to invest you are going to have to disclose much more detail on where you are manufacturing these chips, when you expect to get them, their specs, etc.

They're not manufacturing the chips, they are just buying KNCminer which won't make a profit.

[HashStorm]

I appreciate the feedback, what do you predict the difficulty will be in November? That's what will the determine how much BTC is made, predicting the difficulty is a tough task.

[🏰 TradeFortress 🏰]

I appreciate the feedback, what do you predict the difficulty will be in November? That's what will the determine how much BTC is made, predicting the difficulty is a tough task.

That's not a tough task (to get a good estimate. it is hard to predict down to the number for example). The difficulty will increase by at least 20% per difficulty period on average. I believe this later year it we will see difficulty doublings.

Remember, back in 2010 when GPU mining first was introduced the difficulty increased by 300% in one period, and consistently increased by 30-40%.

ASICMINER will be introducing 800 to 1000 TH/s this year.

[HashStorm]

We have factored that in and don't believe the difficulty rise will be as drastic as you believe, but again we appreciate all feedback and we will work our numbers again to see how likely a mining difficulty that high would be.

[🏰 TradeFortress 🏰]

We have factored that in and don't believe the difficulty rise will be as drastic as you believe, but again we appreciate all feedback and we will work our numbers again to see how likely a mining difficulty that high would be.

Have you been watching the difficulty? It IS increasing by ~20%.

If you disagree, then I'm happy to have a wager on this matter 1:1 (up to 3000 BTC). You'll make a lot more than hashstorm if you're right. Of course you won't actually take up this offer because your offerings will cause your customers to lose money.

[iANDROID]

BitFuy is using 65mm

[HashStorm]

We have been watching the difficulty increase and understand what ASICs coming on the market are going to do to the difficulty, but I'm sorry we're not here to wager bets on difficulty, we're just here to receive some constructive feedback. 

[🏰 TradeFortress 🏰]

Your customers are, and it's obvious that they won't make any money.

[HashStorm]

Okay, I respect your opinion and appreciate the feedback.