[ANN] Fibonacci Info and questions

[ninjaboon]

Ok, I got the go ahead, Hauntingshade suggested I distribute the miners initially.

awesome, so I can order and get them in hand straight away, thanks.

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[jasinlee]

Ok, I got the go ahead, Hauntingshade suggested I distribute the miners initially.

awesome, so I can order and get them in hand straight away, thanks.

Its in reference to hosted mining.

[CycleSurfer]

Just to clarify, when the website comes up, we can start ordering one of the mining configurations to be hosted?

Will there be limits on purchases? -- e.g. one per customer.  This to prevent one person from hoarding all the supply.

And when each mining rig becomes hosted as they are produced, what determines whose miner gets hosted first?  Will that be first-ordered, first-served?

Cheers.

[jasinlee]

Just to clarify, when the website comes up, we can start ordering one of the mining configurations to be hosted?

Will there be limits on purchases? -- e.g. one per customer.  This to prevent one person from hoarding all the supply.

And when each mining rig becomes hosted as they are produced, what determines whose miner gets hosted first?  Will that be first-ordered, first-served?

Cheers.

Correct, once the site is up, we will start offering them in stages.

There will be a limit, we do not have a figure yet.

First come first serve, that is correct. But the time period between the 1st miner and last miner being added to the hosts and pools will be minuscule, probably 1-2 days between their times from production to hosted.

[CycleSurfer]

Cool.  Thanks for the quick reply.

When we order a configuration, we will have to pay 100% for it up front?  If so, what happens if a catastrophic event occurs that incapacitates your facility/business?  Will there be a refund?  I.e. what will be the return policy?

Cheers.

[PhilippeStevens]

When will the website be up approximatively ?

[jasinlee]

Cool.  Thanks for the quick reply.

When we order a configuration, we will have to pay 100% for it up front?  If so, what happens if a catastrophic event occurs that incapacitates your facility/business?  Will there be a refund?  I.e. what will be the return policy?

Cheers.

We will have a return policy in that we would just refund the coins the user paid for the unit. We are still working out the kinks on this part, but it will bleed into the exchange we are finishing up now. So for example:

1. User A purchased 1 unit and was first in the queue but wants to sell his unit (which is hosted).
2. User A places the single unit up for sale on the exchange just like any security.
3. User B places a buy order and takes over ownership of that unit.
4. User B is then issued the mined coins from that time forward.


We are missing a couple of important steps to this, but this wont be an issue initially, I think we should have any kinks worked out before the exchange goes live.

[iarsenaux]

I wonder which will be more overall cost effective. If this Scrypt ASIC miners or the traditional GPU's.

[jasinlee]

When will the website be up approximatively ?

The site would have been up today.....but my team seems to think they have a life sometimes and want to visit with family or go drinking on new years. I keep explaining to them that this is not the case, but sometimes my slaves happy team members do not follow those directions.

[jasinlee]

I wonder which will be more overall cost effective. If this Scrypt ASIC miners or the traditional GPU's.

We will have to wait and see. There are so many factors that impact this its insane.

Price, difficulty, power cost in your area, heating, cooling, learning curve, availability, etc

[Starlightbreaker]

When will the website be up approximatively ?

The site would have been up today.....but my team seems to think they have a life sometimes and want to visit with family or go drinking on new years. I keep explaining to them that this is not the case, but sometimes my slaves happy team members do not follow those directions.

time to crack that whip.

[jasinlee]

When will the website be up approximatively ?

The site would have been up today.....but my team seems to think they have a life sometimes and want to visit with family or go drinking on new years. I keep explaining to them that this is not the case, but sometimes my slaves happy team members do not follow those directions.

time to crack that whip.

If they were close enough.....

[CycleSurfer]

And will there be any other fees on top of the miner purchase for the hosting?  If so, any idea what they are and the cost?  Or is the purchase price all-inclusive?

Thanks.  Doing a great job answering questions on this thread.

[jasinlee]

And will there be any other fees on top of the miner purchase for the hosting?  If so, any idea what they are and the cost?  Or is the purchase price all-inclusive?

Thanks.  Doing a great job answering questions on this thread.

Thanks, I try to answer as fast as possible so I dont get behind.

The only fees will be calculated out to cover electric and a small amount for the host (we wont be the only ones holding the hosted units as discussed before) I would like to keep it at 1% or less if possible. The actual power draw is so small compared to the speed that it should hopefully have no impact for a long time.

[FiatKiller]

Sounds awesome. We should be able to order by the 2nd!

[ninjaboon]

When will the website be up approximatively ?

The site would have been up today.....but my team seems to think they have a life sometimes and want to visit with family or go drinking on new years. I keep explaining to them that this is not the case, but sometimes my slaves happy team members do not follow those directions.

time to crack that whip.

when I used to work in the oil and gas, there was something called Work Life balance.

[jasinlee]

When will the website be up approximatively ?

The site would have been up today.....but my team seems to think they have a life sometimes and want to visit with family or go drinking on new years. I keep explaining to them that this is not the case, but sometimes my slaves happy team members do not follow those directions.

time to crack that whip.

when I used to work in the oil and gas, there was something called Work Life balance.

Sounds inefficient.

[ninjaboon]

When will the website be up approximatively ?

The site would have been up today.....but my team seems to think they have a life sometimes and want to visit with family or go drinking on new years. I keep explaining to them that this is not the case, but sometimes my slaves happy team members do not follow those directions.

time to crack that whip.

when I used to work in the oil and gas, there was something called Work Life balance.

Sounds inefficient.

salaried workers like me love it.

[Zisef]

Will these work on any Scrypt chain?

Yes, unless they have made some larger modifications to the coin.

Hope the coin dev's make these changes to their coins to circumvent your miner.

Crypto should remain in the domain of the average guy in the street to mine with GPU's that can be bought comparatively cheaply at the corner store & not controlled/owned/mined by big business, whales, or corporations.

That is right, they have stated once the FPGA/ASIC miners come out they will be changing things up. Power to the people!

[Marsenault]

As much as I know that I will check out these asics when they appear, I have to agree with zizef.  It takes everything away that's great about cryptos when big companies get control of it, and squeeze every single drop of profit out for themselves, except for just enough of a carrot's worth to keep the poor late adopters buying in.

Just look at the Bitcoin GH's for sale right now, it's hard to say if one of them will even pay for itself over the course of a whole YEAR, or even the course of owning it at all. Bitcoin serves only it's corporate masters now, the only real way for average joe to make anything on them is if they have the money and the smarts to buy in and play the market swings, or buy and hold and hope that it really goes to the moon.