Bitcoin Forum
April 19, 2014, 02:38:05 AM *
News: Due to the OpenSSL heartbleed bug, changing your forum password is recommended.
 
   Home   Help Search Donate Login Register  
Pages: [1] 2 3 4 5 6 7 8 9  All
  Print  
Author Topic: First commercial ASIC miner specifications and pre-launch  (Read 13061 times)
f41lover
Jr. Member
*
Offline Offline

Activity: 51


All your random numberz 'r belong to us


View Profile

Ignore
July 17, 2011, 05:06:00 PM
 #1

They finally launched it, seems genuine ? http://asicminer.net/?p=58 .. i am tempted to risk those BTC

Trust no one.
1397875085
Hero Member
*
Offline Offline

Posts: 1397875085

View Profile Personal Message (Offline)

Ignore
1397875085
Reply with quote  #2

1397875085
Report to moderator
1397875085
Hero Member
*
Offline Offline

Posts: 1397875085

View Profile Personal Message (Offline)

Ignore
1397875085
Reply with quote  #2

1397875085
Report to moderator
1397875085
Hero Member
*
Offline Offline

Posts: 1397875085

View Profile Personal Message (Offline)

Ignore
1397875085
Reply with quote  #2

1397875085
Report to moderator
GAWMiners.com
ASIC Scrypt Miners
Guaranteed Satisfaction + Same-Day Shipping For FREE!
Simply Enter "freeshipping" at checkout

Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
1397875085
Hero Member
*
Offline Offline

Posts: 1397875085

View Profile Personal Message (Offline)

Ignore
1397875085
Reply with quote  #2

1397875085
Report to moderator
1397875085
Hero Member
*
Offline Offline

Posts: 1397875085

View Profile Personal Message (Offline)

Ignore
1397875085
Reply with quote  #2

1397875085
Report to moderator
1397875085
Hero Member
*
Offline Offline

Posts: 1397875085

View Profile Personal Message (Offline)

Ignore
1397875085
Reply with quote  #2

1397875085
Report to moderator
1397875085
Hero Member
*
Offline Offline

Posts: 1397875085

View Profile Personal Message (Offline)

Ignore
1397875085
Reply with quote  #2

1397875085
Report to moderator
The00Dustin
Hero Member
*****
Offline Offline

Activity: 597


View Profile

Ignore
July 17, 2011, 05:12:11 PM
 #2

Considering how little it costs to manufacture something in China, I'm guessing those guys are going to turn a serious profit.  If it's a scam, I suppose the profit turned will be even larger.
JoelKatz
Hero Member
*****
Offline Offline

Activity: 1036


Democracy is vulnerable to a 51% attack.


View Profile WWW

Ignore
July 17, 2011, 05:13:49 PM
 #3

While their claims are plausible, I would be very concerned that this is a scam.

If they're reading this, I have an offer for them: If they're willing to accept my written promise not to disclose any information they tell me, I'm willing to validate their claims. They wouldn't have to send me any hardware. They would simply have to answer technical questions that I pose within a tight time frame (24 hours or so) -- they would all be questions they would necessarily already have the answer to if this was real. I will make my conclusions public, either way.

I am an employee of Ripple Labs, the company behind the Ripple payment network.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ
Grant
Sr. Member
****
Offline Offline

Activity: 252


View Profile

Ignore
July 17, 2011, 05:14:58 PM
 #4

On paper it sounds very good, except for the following:

Quote
Our machine beats the current state-of-the-art miners by an order of magnitude and while we could do the mining by ourselves and still profit a lot, our purpose is not to challenge the government ( Bitcoin in the Popular Republic of China is illegal and manipulating large quantities of currencies is not even tolerated for foreign citizen without  permissions, reason for which we chose to keep our identities hidden at the moment ) instead we are commercializing it purposely for making a big profit from the whole operation and re-invest the money. We drained our personal credit cards for placing the order with the factory and given the current instability of the bitcoin market we won’t take risk of producing more than 5000 boards, which means only 500 machines are available for pre-ordering.

I am absolutely not going to send thousands of USD to an unidentified person overseas, nomatter how fantastic the promises may be. It would be plain dumb to do so. If they don't plan to reveal who they are and operate as a normal business i have to conclude this is a scam.

The utilization of money to create money through economic activity is the intrinsic value of money.
newMeat1
Full Member
***
Offline Offline

Activity: 210



View Profile

Ignore
July 17, 2011, 05:27:48 PM
 #5

I like the part about not being able to manufacture, because the weather is too hot 

I still don't think a team of four could, in a few months:
1. develop an ASIC
2. develop a controller
3. also make the custom software, interface, etc...

Grouver (BtcBalance)
Hero Member
*****
Offline Offline

Activity: 526



View Profile WWW

Ignore
July 17, 2011, 05:33:45 PM
 #6

I am absolutely not going to send thousands of USD to an unidentified person overseas, nomatter how fantastic the promises may be.

Congratulations, you just won 150.000 dollars within our lottery.
Before you can claim your award, please deposit 250 dollars to the following bank account:  9494949.
After the transaction is confirmend we will send you the whole total of 150.000 dollars to your bank account.

Keep in mind you are randomly selected out of 30596930 people!

Sincerely,
asicminer.net

randomguy7
Hero Member
*****
Offline Offline

Activity: 509


View Profile

Ignore
July 17, 2011, 05:35:40 PM
 #7

Quote
Because of the large quantity of requests, in order to be elegible for ordering a machine you need to send 15 BTC to 16BYKtRZDT6vsbpYmfcM3EKStDAbrq...

lol
newMeat1
Full Member
***
Offline Offline

Activity: 210



View Profile

Ignore
July 17, 2011, 05:39:48 PM
 #8

Well don't worry guys. You know some fool with too many bitcoins is gonna give it a shot and find out for us whether it's a scam or not

Also just noticed that PRC is now the Popular Republic of China, fyi

Grant
Sr. Member
****
Offline Offline

Activity: 252


View Profile

Ignore
July 17, 2011, 05:49:54 PM
 #9

Because of the large quantity of requests, in order to be elegible for ordering a machine you need to send 15 BTC to 16BYKtRZDT6vsbpYmfcM3EKStDAbrq...


That part is perhaps better than the "we chose to keep our identities hidden". LOL

The utilization of money to create money through economic activity is the intrinsic value of money.
makomk
Hero Member
*****
Offline Offline

Activity: 686


View Profile

Ignore
July 17, 2011, 08:37:32 PM
 #10

Quote
Because of the large quantity of requests, in order to be elegible for ordering a machine you need to send 15 BTC to 16BYKtRZDT6vsbpYmfcM3EKStDAbrq...


That part is perhaps better than the "we chose to keep our identities hidden". LOL
It gets even better if you noticed:
Quote
and while we could do the mining by ourselves and still profit a lot, our purpose is not to challenge the government ( Bitcoin in the Popular Republic of China is illegal and manipulating large quantities of currencies is not even tolerated for foreign citizen without  permissions, reason for which we chose to keep our identities hidden at the moment )
So Bitcoins are illegal there and that's why they don't want to run the miners themselves, but you need to pay them Bitcoins in order to reserve one. Right.

Quad XC6SLX150 Board: 860 MHash/s or so.
SIGS ABOUT BUTTERFLY LABS ARE PAID ADS
MiningBuddy
Moderator
Hero Member
*
Offline Offline

Activity: 952


฿itcoin ฿itcoin ฿itcoin


View Profile

Ignore
July 17, 2011, 09:05:46 PM
 #11

That whole site smells too good to be true  Roll Eyes

Dargo
Hero Member
*****
Offline Offline

Activity: 700


View Profile

Ignore
July 17, 2011, 09:11:50 PM
 #12

I wonder if they are just going for the 15 BTC scam, or whether they will also try for the additional $2700. But it's fun to think about mining at 5 Gh/s and only pulling 400 watts or so from the wall.  Grin

The00Dustin
Hero Member
*****
Offline Offline

Activity: 597


View Profile

Ignore
July 17, 2011, 11:16:12 PM
 #13

It gets even better if you noticed:
Quote
and while we could do the mining by ourselves and still profit a lot, our purpose is not to challenge the government ( Bitcoin in the Popular Republic of China is illegal and manipulating large quantities of currencies is not even tolerated for foreign citizen without  permissions, reason for which we chose to keep our identities hidden at the moment )
So Bitcoins are illegal there and that's why they don't want to run the miners themselves, but you need to pay them Bitcoins in order to reserve one. Right.
A very valid point, especially considering that such enterprising individuals could pay someone else in BTC to rent some rackspace and run the things if they're actually going to dabble with the currency, but don't want to get caught mining in their country.
JoelKatz
Hero Member
*****
Offline Offline

Activity: 1036


Democracy is vulnerable to a 51% attack.


View Profile WWW

Ignore
July 17, 2011, 11:43:10 PM
 #14

So Bitcoins are illegal there and that's why they don't want to run the miners themselves, but you need to pay them Bitcoins in order to reserve one. Right.
It makes sense if you don't think about it.

I am an employee of Ripple Labs, the company behind the Ripple payment network.
1Joe1Katzci1rFcsr9HH7SLuHVnDy2aihZ
asicminer
Newbie
*
Offline Offline

Activity: 14


View Profile

Ignore
July 18, 2011, 02:08:12 AM
 #15

Hi guys,

We are sorry to see such an harsh response from the community. We wish to reply all of your questions to clarify any matter and in the meantime we also updated our blog post, feel free to check it out. This is not intended to be a scam, we are very concerned about releasing pictures or schematics because of the reverse engineering risk.
By the way 'Popular republic of china' was a typo, perhaps a bad one. We've fixed that. Thanks
MountainMan
Newbie
*
Offline Offline

Activity: 28



View Profile

Ignore
July 18, 2011, 02:16:24 AM
 #16

The reverse engineering risk doesn't exist. After your first unit is deployed, it's open season. I would think it's better to go for complete disclosure, thereby gaining the trust and commerce of dozens or hundreds than to appear shady and turn away thousands.

Show me what you got and I'll pay you fairly for it.
If you want a down payment on your promises, find some other sucker.
Oldminer
Hero Member
*****
Offline Offline

Activity: 546


The trust reporting system is a 'scam'


View Profile

Ignore
July 18, 2011, 02:34:02 AM
 #17

lol

Christian Pezza
Member
**
Offline Offline

Activity: 98



View Profile WWW

Ignore
July 18, 2011, 02:34:43 AM
 #18

Just a note...

http://who.godaddy.com/whois.aspx?domain=asicminer.net&prog_id=GoDaddy

If you like this tread consider to donate some to https://bitcointalk.org/donate.html
asicminer
Newbie
*
Offline Offline

Activity: 14


View Profile

Ignore
July 18, 2011, 02:36:57 AM
 #19

The reverse engineering risk doesn't exist. After your first unit is deployed, it's open season. I would think it's better to go for complete disclosure, thereby gaining the trust and commerce of dozens or hundreds than to appear shady and turn away thousands.
We will use epoxy coating sprayed onto the main channels and components. Removing it will destroy the hardware.
Xephan
Jr. Member
*
Offline Offline

Activity: 42


View Profile

Ignore
July 18, 2011, 02:37:57 AM
 #20

That whole site smells too good to be true  Roll Eyes

Personally, the only reason that it looks too good to be true is that the English is the best I've seen from a PRC native... and I communicate with quite a few due to my work.

Plus the fact none of my manufacturers in Shenzhen have warned me they are shutting down factories for vacation because it's too hot, especially since weather records indicate they are just generally only 1C hotter than where I am  Wink



186q9YUW3x8TVHC5aYBEqgZZYMxft8Cw9f
Pages: [1] 2 3 4 5 6 7 8 9  All
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!