PhotonicMining here (
http://www.photonicmining.com).
First of all, thank you for the interest in our company.
We apologize for not having opened an official thread here earlier, but we have been overflown with inquiries.
We would like to clarify who we are and address some accusations.
1) We are a young startup which developed a new kind of rudimental photonic transistor. Despite its size being considerably bigger (2,000 nm) than electric ones, overall it can achieve faster computational speeds because of the faster switching time (i.e. the time the transistor takes to switch from 0 to 1).
During 2013 we implemented a simple SHA-256 core circuit (
http://en.wikipedia.org/wiki/File:SHA-2.svg ). The prototyping costs are very high and the best way to grow faster than our competitors is to IPO and to follow a pre-orders based strategy which will enable us to extend this technology to building full-fledged mining chips.
2) Too good to be true?
We want to be very clear on the fact that
we did not build our advertised products yet. The numbers are too good to be true because, in fact, they do not exist yet.
The only exception being our SHA-256 core running at 2 GH/s which has been successfully built and tested. We are impressed with the results and we can't wait to raise enough money to be able to replicate it thousands of times on a chip in order to achieve the advertised speeds. This will be a tortuous road, but the numbers and our beliefs are both telling us that we will make it.
We would like to comment the following chart:
http://bitcoin.sipa.be/speed-ever.pngIn the last year the hash rate has been growing 100 fold every 6 month.
We plan to ship the first products by September/October 2014, roughly 6 months from now. If the total hashing rate keeps rising at the current pace, we will reach speeds of 3,000,000 TH/s by then.
With a hashing rate of 25 TH/s (our mid-sized miner) we'd be able to mine 0.03 BTC per day (about 19$). However, we believe the hashing rate will grow slower than it did in the last year and therefore we might expect a higher return of investment.
We think we priced our products in a fair way which incorporates manufacturing delays, uncertainties and unknown future hashing rates.
We remain available for other clarifications. We are also working on a video explaining our technology. We hope to be able to share it with you soon.
