everyone get ready to sue Avalon!

[superduh]

there are rumors about Avalon getting funding to the tune of 200 million USD
maybe this is real maybe it's all rumors
maybe their hardware will no longer suck too much and they'll deliver ON TIME
regardless - just a heads up for those who think they have a legal case against them.

this could also be the start of the "new avalon" thread. perhaps, they'll get their shit together going into the future now that they'll be a "real company"

source: http://bitcoinexaminer.org/avalon-might-be-getting-a-200-million-investment-and-20nm-technology-to-become-the-leader-of-the-mining-market/

edit-
obviously this sounds a bit strange (perhaps they added a 0 and it should be 20 million)
Avalon doesn't need 200 million and prob won't know what to do with it (unless it's like a shareswap thing or something)
they prob would get more roi buying up bitcoins slowly for that amount of money
also, for that amount of money they can hire TOP talent pretty much from anywhere so why would they need avalon?
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the author of the article is either trolling for views or there's something crazy happening

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[regular]

any sources?

[mvidetto]

Knc is at 28nm how is 20nm a porsche compared to that?

[jspielberg]

Knc is at 28nm how is 20nm a porsche compared to that?

Put simply because Bitsyncom has a track record with first FPGAs and then Asics (though that reputation is tarninshing fast).

KnC is still uncertain until their chip checks out.  Understandably, KnC put in a number of conservative estimates on hash, power and delivery and have an aggressive delivery schedule... but right now only they know how conservative and how aggressive.

[dropt]

Knc is at 28nm how is 20nm a porsche compared to that?

Put simply because Bitsyncom has a track record with first FPGAs and then Asics (though that reputation is tarninshing fast).

I think you're confusing Bitsyncom with ngzhang.

[ampu]

[jspielberg]

Knc is at 28nm how is 20nm a porsche compared to that?

Put simply because Bitsyncom has a track record with first FPGAs and then Asics (though that reputation is tarninshing fast).

I think you're confusing Bitsyncom with ngzhang.

Well I was kind of simplifying things since ngzhang was with Bitsyncom.  It sounds from the rumors that he has left the band... in which case, the cash cow has left the stable.

[john_nalpa]

why anyone will sue them?

[Ytterbium]

The entire bitcoin mining "industry" can only generate 1.3m BTC a year, and that's only until the next reward halving in a few years.

With bitcoin at $100, that's just $131 million a year.

Anyone investing $200m in mining at this point is either a complete idiot, or thinks the price of bitcoin is going to skyrocket.  Or doesn't exist.

I think non-existance is the most likely possibility here, I doubt there is any $200 million dollar deal, and there isn't even that much of a difference between 20nm and 28nm.

[Spekulatius]

The entire bitcoin mining "industry" can only generate 1.3m BTC a year, and that's only until the next reward halving in a few years.

With bitcoin at $100, that's just $131 million a year.

Anyone investing $200m in mining at this point is either a complete idiot, or thinks the price of bitcoin is going to skyrocket.  Or doesn't exist.

I think non-existance is the most likely possibility here, I doubt there is any $200 million dollar deal, and there isn't even that much of a difference between 20nm and 28nm.

They may not be after the BTC themselves but rather after the miner's money
I dont think this is credible news btw, look at this:
http://www.feld.com/wp/archives/2011/01/avalon-ventures-raises-a-new-200-million-fund-and-gets-a-new-website.html

Does anybody else think the authors got confused here?

[bystander]

Very interesting stuff, Yifu was telling us at the conference he wouldn't take on investors.  Guess $200million changes everything.

He also did say his biggest concern was that one day a major chip manufacturer would suddenly see the light and in one fell swoop, they could take over instantly.  There was also a reference to a future where it's possible to mine bitcoins using anything from cell phones, to appliances, to everything in between. 

With the funding he's got now, that probably gets a step closer to coming true.

[Ytterbium]

I dont think this is credible news btw, look at this:
http://www.feld.com/wp/archives/2011/01/avalon-ventures-raises-a-new-200-million-fund-and-gets-a-new-website.html

Does anybody else think the authors got confused here?

Hahah, that would be funny.

[turtle83]

The entire bitcoin mining "industry" can only generate 1.3m BTC a year, and that's only until the next reward halving in a few years.

With bitcoin at $100, that's just $131 million a year.

Anyone investing $200m in mining at this point is either a complete idiot, or thinks the price of bitcoin is going to skyrocket.  Or doesn't exist.

I think non-existance is the most likely possibility here, I doubt there is any $200 million dollar deal, and there isn't even that much of a difference between 20nm and 28nm.

They may not be after the BTC themselves but rather after the miner's money
I dont think this is credible news btw, look at this:
http://www.feld.com/wp/archives/2011/01/avalon-ventures-raises-a-new-200-million-fund-and-gets-a-new-website.html

Does anybody else think the authors got confused here?

Good find.
No. I dont think author is confused at all. Hes simply Trolling.... Nobody is that dumb

[Bitcoinorama]

Avalons new funder is spreading FUD about KnC on Twitter; https://mobile.twitter.com/frankieterrier

EDIT: It has to be BS. I hadn't looked past those three recent tweets before posting just then.

[ecliptic]

So Avalon gets $200,000,000 but a group of engineers who literally worked at Nvidia/Samsung/Intel only get $1,500,000

https://bitcointalk.org/index.php?topic=267552.0 / http://www.cointerra.com/faq/

[jspielberg]

Andrew Laurus @frankieterrier   12 Jul
#bitcoin caution everyone regarding #kncminer they have taken millions USD and dont even have a single working unit, tweet me for more info

Clearly FUD, and inflamatory... but technically not libel. 

Uninformed folks might not understand how the bitcoin mining manufacturers operate with a quasi-crowd funded model in which the supplier doesn't take on a lot of debt to produce the product and then sell the product in hand. 

Anyone who spends time on this sub-forum would realize this guy while probably rich, is still cutting his teeth in the BTC world.

Frankly, other than for breaking news in war zones, I feel twitter is for narcissists.

[Bitcoinorama]

It's BS, just google: Avalon 200 million

And scroll past the FUD.

[DigitalHermit]

$200 Million? LOL I guess money does change everything... or this is complete B.S.

https://www.youtube.com/watch?v=QITeC4Vri88

[DigitalHermit]

It's BS, just google: Avalon 200 million

And scroll past the FUD.

Nice... it's a different Avalon, aka Avalon Ventures:

http://www.xconomy.com/san-diego/2012/09/04/running-on-two-year-cycle-avalon-ventures-lands-200m-for-tenth-fund/

[superduh]

3rd results on google.

wow, google does rock in their search algorithm ability