[ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated]

[JoTheKhan]

@Main I agree, I don't think its a hard task at all. But there were times where we sat and decided to wait for Colored coins. You can't hold this time against Ken if we (not I, I was always for Crypto Trade But we as in the forum) told him that we wanted to wait for Colored Coins. I mean look back one page and you see someone else suggesting that we wait 2 More weeks for Colored Coins. This has been popping up through all of November and December, even some in January.

You can't scream at him to wait for Colored coins and then put it against him that he didn't do the implementation for Crypto Trade yet. That's just retarded. There were stupid polls and long fights about how everyone wants to do Colored Coins or w/e. So if anything you can say that Ken has had since Mid/Late December to have Crypto Trade up and running for us. Not since Mid November.

So if we are going to claim Ken has been neglectful with shares then we will have to say since Late December or the Beginning of January till Now. Still you are right, it should be done by now. If it comes down to it, he should just start doing it manually and grab the people who can to ship shares over to CryptoTrade while he has the free time to do so each week. (Like how he did from BTCT to Bitfunder)

[JoTheKhan]

Profit Projections On Our 55nm Deployment

What do you see the hashrate being during May?

If you notice it says a 78% Increases every 2 weeks and has May starting at 12 Billion. (Current difficulty is just a little over 2Billion)

[MilkyWayMasta]

Profit Projections On Our 55nm Deployment

What do you see the hashrate being during May?

If you notice it says a 78% Increases every 2 weeks and has May starting at 12 Billion. (Current difficulty is just a little over 2Billion)

It says a 78% increase per month not every 2 weeks. So the hashrate would increase by 78% a month?

[JoTheKhan]

@ Milky seems you are right.

12 * 1.34 Gives us 16.08 * 1.34 Gives us 21.54 which seems rather close to the increase we are seeing month after month. So around 35% - 40%  increase I suppose every 2 Weeks from his suggestions.

[MilkyWayMasta]

@ Milky seems you are right.

12 * 1.34 Gives us 16.08 * 1.34 Gives us 21.54 which seems rather close to the increase we are seeing month after month. So around 35% - 40%  increase I suppose every 2 Weeks from his suggestions.

Does a 78% monthly increase in the difficulty mean a 78% increase in the hashrate? I'm just trying to see what percentage of the mining ACTM will control in May.

[mainline]

@Main I agree, I don't think its a hard task at all. But there were times where we sat and decided to wait for Colored coins. You can't hold this time against Ken if we (not I, I was always for Crypto Trade But we as in the forum) told him that we wanted to wait for Colored Coins. I mean look back one page and you see someone else suggesting that we wait 2 More weeks for Colored Coins. This has been popping up through all of November and December, even some in January.

You can't scream at him to wait for Colored coins and then put it against him that he didn't do the implementation for Crypto Trade yet. That's just retarded. There were stupid polls and long fights about how everyone wants to do Colored Coins or w/e. So if anything you can say that Ken has had since Mid/Late December to have Crypto Trade up and running for us. Not since Mid November.

So if we are going to claim Ken has been neglectful with shares then we will have to say since Late December or the Beginning of January till Now. Still you are right, it should be done by now. If it comes down to it, he should just start doing it manually and grab the people who can to ship shares over to CryptoTrade while he has the free time to do so each week. (Like how he did from BTCT to Bitfunder)

This is bordering on absurd.

1.  Regardless of whether Ken wanted to move to CT or CC, verification needed to be done, so the script should have been written. (yes/no)

2.  Yes, a bunch of goofballs wanted CC.  They still do,  Nothing changed.  I guess we'll have to wait til all the kids agree, right?

*Ken didn't listen then and he's not listening now, he's not running a kindergarten where children start polls & he bases business decisions on those.  At least you have something to be thankful for here.

@MWM:  Yes.

[JoTheKhan]

@Main I agree, I don't think its a hard task at all. But there were times where we sat and decided to wait for Colored coins. You can't hold this time against Ken if we (not I, I was always for Crypto Trade But we as in the forum) told him that we wanted to wait for Colored Coins. I mean look back one page and you see someone else suggesting that we wait 2 More weeks for Colored Coins. This has been popping up through all of November and December, even some in January.

You can't scream at him to wait for Colored coins and then put it against him that he didn't do the implementation for Crypto Trade yet. That's just retarded. There were stupid polls and long fights about how everyone wants to do Colored Coins or w/e. So if anything you can say that Ken has had since Mid/Late December to have Crypto Trade up and running for us. Not since Mid November.

So if we are going to claim Ken has been neglectful with shares then we will have to say since Late December or the Beginning of January till Now. Still you are right, it should be done by now. If it comes down to it, he should just start doing it manually and grab the people who can to ship shares over to CryptoTrade while he has the free time to do so each week. (Like how he did from BTCT to Bitfunder)

This is bordering on absurd.

1.  Regardless of whether Ken wanted to move to CT or CC, verification needed to be done, so the script should have been written. (yes/no)

2.  Yes, a bunch of goofballs wanted CC.  They still do,  Nothing changed.  I guess we'll have to wait til all the kids agree, right?

1. Colored Coins would have him just send our shares to our address, he wouldn't need to verify anything right? Just check his asset list.

2. The vote convinced Ken to wait for Colored Coins which never came. I told them it was a dumb idea, they didn't listen we suffered a little more.

I don't wanna be called a Ken apologist so I'm gonna leave it at that. I think we should have had our shares back in early January if you ask me, I am just stating the series of events that have led us to where we find ourselves now. Is it Ken's fault, yes, do we have some blame in it? Probably, should it have been done by now? Fuck yes.

[mainline]

...
2. The vote convinced Ken to wait for Colored Coins which never came. I told them it was a dumb idea, they didn't listen we suffered a little more.
...

Hey, the Colored Coins are coming!  A few more weeks, and they'll be here.  What changed?  When you are not trading, that's 'coz Ken is listening to zum's poll results.  Have fun.

*Do you see that you leave open every option for Ken?
He promised CT.  He didn't deliver because people wanted CC.
When he finally goes with CT?  Well, he promised CT all along.  Win/win.  In your eyes, he can do no wrong.  And you sincerely don't see yourself as an apologist.

[MilkyWayMasta]

Profit Projections On Our 55nm Deployment

Jun-14 Cumulative Return = 959.00
May-14 Cumulative Return = 119.00

Difference = 840 BTC mined in 1 month
Total BTC mined in 1 month (3600 BTC x 30 days) = 108,000 BTC

840 BTC / 108,000 BTC = 0.007777 = 0.77 % of hashrate from May to June

[Entropy-uc]

Profit Projections On Our 55nm Deployment

Jun-14 Cumulative Return = 959.00
May-14 Cumulative Return = 119.00

Difference = 840 BTC mined in 1 month
Total BTC mined in 1 month (3600 BTC x 30 days) = 108,000 BTC

840 BTC / 108,000 BTC = 0.007777 = 0.77 % of hashrate from May to June

LOL!  Ken updated VBS's spreadsheet.  I really missed that thing.  Funny stuff.

[MilkyWayMasta]

Profit Projections On Our 55nm Deployment

Jun-14 Cumulative Return = 959.00
May-14 Cumulative Return = 119.00

Difference = 840 BTC mined in 1 month
Total BTC mined in 1 month (3600 BTC x 30 days) = 108,000 BTC

840 BTC / 108,000 BTC = 0.007777 = 0.77 % of hashrate from May to June

LOL!  Ken updated VBS's spreadsheet.  I really missed that thing.  Funny stuff.

Just going by the projections he posted.

[zefyr0s]

Ken, are you looking into XCP? A distributed exchange that has already released command-line implementation and uses proof-of-burn to create the initial alt.

http://www.reddit.com/r/Bitcoin/comments/1wtz2b/2124_btc_destroyed_in_proofofburn/

[mainline]

@JoTheKhan:  Whoops ^^  We should reboot Stewartuk to start "Can we haz XCP" poll

[twentyseventy]

Profit Projections On Our 55nm Deployment

Hey guys, you're all missing the biggest issue with this calculation - it has a 10% conversion rate (USD/BTC) increase per MONTH built in. Remove that and you'll make a whopping $2000 on your $1.3M investment.

You CANNOT allow for an increase in the conversion rate to be factored into mining profitability, as you can simply hold the equivalent in BTC and see the same USD-denominated increase.

EDIT: Seems I missed a digit somewhere. I hope for all of your sake that he actually delivers.

[somestranger]

Profit Projections On Our 55nm Deployment

Hey guys, you're all missing the biggest issue with this calculation - it has a 10% conversion rate (USD/BTC) increase per MONTH built in. Remove that and you'll make a whopping $2000 on your $1.3M investment.

You CANNOT allow for an increase in the conversion rate to be factored into mining profitability, as you can simply hold the equivalent in BTC and see the same USD-denominated increase.

I am seeing $1.3M profit by August, not $2000. http://thegenesisblock.com/mining/a/d9a917bb39

[MrTeal]

Profit Projections On Our 55nm Deployment

Jun-14 Cumulative Return = 959.00
May-14 Cumulative Return = 119.00

Difference = 840 BTC mined in 1 month
Total BTC mined in 1 month (3600 BTC x 30 days) = 108,000 BTC

840 BTC / 108,000 BTC = 0.007777 = 0.77 % of hashrate from May to June

LOL!  Ken updated VBS's spreadsheet.  I really missed that thing.  Funny stuff.

I can't believe he actually used The Genesis Block for the project projections. It is literally insulting to everyone who's invested with him that he'd spend 2 minutes putting that together. Nevermind that it's completely unrealistic and the numbers don't make any sense.
1. Ken's stated the first wafers will be arriving mid and end of April, with the bulk of the wafers arriving in May. Wafers in May to 1.2PH/s online in May? Keep in mind the only reason that estimate has a 28 day payoff is that it's saying that mining will start May 1 with 1.2PH/s, and make $1.2M.
2. Ken's previously stated the chips themselves will consume 2.5W for 1.9GH/s, or 1.31J/GH. Here he's using an efficiency of 1.31J/GH for the whole system. Where's the DC/DC conversion inefficiency? Additional loads like other chips and fans? AC/DC PSU inefficiency? AC costs at whatever building they're hosted at?
3. With no costs factored in for hosting in a DC and a $0.022/kWh electricity listed, I'd love to know what kind of arrangement he's made for a site with no capital expenditure and at cost electricity.

That he either doesn't have anything more substantive to share, or for some reason instead of presenting real estimates he's tossing this out here as a bone is very disconcerting.

Edit: I'll just leave this here as a cautionary tale.
https://bitcointalk.org/index.php?topic=79637.msg1157524#msg1157524
This is probably actually the wrong thread for it as it should be in the VNC thread, but buyer beware.

[MilkyWayMasta]

Profit Projections On Our 55nm Deployment

Hey guys, you're all missing the biggest issue with this calculation - it has a 10% conversion rate (USD/BTC) increase per MONTH built in. Remove that and you'll make a whopping $2000 on your $1.3M investment.

You CANNOT allow for an increase in the conversion rate to be factored into mining profitability, as you can simply hold the equivalent in BTC and see the same USD-denominated increase.

Just switch it over to BTC. Max profit: 1870 BTC. How did you get $2000?

[knybe]

so… how's this little experiment/hobby coming along? …we hashing yet?

[MilkyWayMasta]

so… how's this little experiment/hobby coming along? …we hashing yet?

Not yet, supposedly in mid April/May.

[wasubii]

so… how's this little experiment/hobby coming along? …we hashing yet?

Not yet, supposedly in mid April/May.

He knows. He's trolling