f41lover (OP)
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Activity: 63
Merit: 10
All your random numberz 'r belong to us
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July 17, 2011, 05:06:00 PM |
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They finally launched it, seems genuine ? http://asicminer.net/?p=58 .. i am tempted to risk those BTC |
Trust no one.
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According to NIST and ECRYPT II, the cryptographic algorithms used in
Bitcoin are expected to be strong until at least 2030. (After that, it
will not be too difficult to transition to different algorithms.)
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Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction.
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The00Dustin
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July 17, 2011, 05:12:11 PM |
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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.
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JoelKatz
Legendary
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Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
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July 17, 2011, 05:13:49 PM |
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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.
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I am an employee of Ripple. Follow me on Twitter @JoelKatz
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newMeat1
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July 17, 2011, 05:27:48 PM |
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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...
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Grouver (BtcBalance)
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July 17, 2011, 05:33:45 PM |
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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 |
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randomguy7
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July 17, 2011, 05:35:40 PM |
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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 |
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newMeat1
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July 17, 2011, 05:39:48 PM
Last edit: July 17, 2011, 07:41:58 PM by newMeat1 |
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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
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makomk
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July 17, 2011, 08:37:32 PM |
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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: 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 |
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MiningBuddy
Moderator
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Activity: 927
Merit: 1000
฿itcoin ฿itcoin ฿itcoin
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July 17, 2011, 09:05:46 PM |
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That whole site smells too good to be true  |
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Dargo
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Activity: 1820
Merit: 1000
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July 17, 2011, 09:11:50 PM |
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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.  |
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The00Dustin
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July 17, 2011, 11:16:12 PM |
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It gets even better if you noticed: 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. |
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JoelKatz
Legendary
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Activity: 1596
Merit: 1012
Democracy is vulnerable to a 51% attack.
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July 17, 2011, 11:43:10 PM |
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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. Follow me on Twitter @JoelKatz
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asicminer
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July 18, 2011, 02:08:12 AM |
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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
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MountainMan
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July 18, 2011, 02:16:24 AM |
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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.
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Oldminer
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Activity: 1022
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July 18, 2011, 02:34:02 AM |
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lol
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Christian Pezza
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Merit: 10
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July 18, 2011, 02:34:43 AM |
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asicminer
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July 18, 2011, 02:36:57 AM |
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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. |
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Xephan
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July 18, 2011, 02:37:57 AM |
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That whole site smells too good to be true 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  |
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newMeat1
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July 18, 2011, 02:42:46 AM |
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We will use epoxy coating sprayed onto the main channels and components. Removing it will destroy the hardware. So we won't be able to see anything under this coating, but you still won't show a prototype? You really don't make much sense. Anything that the eyes can distinguish is trivial. It's the structure inside the ASIC that would be interesting. And it would take X-rays to see that. Besides, there are ways of getting that epoxy sh*t off. I've heard a cappucino machine works well. |
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asicminer
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July 18, 2011, 02:43:38 AM |
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That whole site smells too good to be true 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 We said that we are foreigners since that start. That was meaning we are not a chinese team, we do work closely with chinese people. We never intended that factories are shutting down for the hotness, but simply 'cause august is approaching and some of them will take vacation in august, if you work in the industry and you are in China you should know that. |
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