[796.com] RedStarMining.com - the oldest public mining security [15.0(TH/s)]

[idev]

~2.94 BTC so far , 2 days to go until 8 days of mining

Yeah but now nearly eighteen hours later only 2.83BTC has cleared.  My router went down Saturday night so we lost over twelve hours of mining so I will pay for the electricity this week out of my own pocket.  So it will be tomorrow (Thursday) morning about 9:00AM GMT/UTC that we have done a full 24/7 week.  I will start to transfer all available cleared BTC to the GLBSE at about 22:30 GMT/UTC tomorrow (Thursday) to pay the first weekly dividend at 00:00AM GMT/UTC (23:00BST) Friday (2012/05/04).  I should be able to fully predict the dividend to be paid in about five hours from now at 00:00AM BST (01:00AM GMT/UTC).

Any news of that FPGA announcement you have been promising for weeks now ?

I want to be able to weight my options : Lancelot vs yohan's board vs your mystery board

Thanks !

+1

[matthewh3]

~2.94 BTC so far , 2 days to go until 8 days of mining

Yeah but now nearly eighteen hours later only 2.83BTC has cleared.  My router went down Saturday night so we lost over twelve hours of mining so I will pay for the electricity this week out of my own pocket.  So it will be tomorrow (Thursday) morning about 9:00AM GMT/UTC that we have done a full 24/7 week.  I will start to transfer all available cleared BTC to the GLBSE at about 22:30 GMT/UTC tomorrow (Thursday) to pay the first weekly dividend at 00:00AM GMT/UTC (23:00BST) Friday (2012/05/04).  I should be able to fully predict the dividend to be paid in about five hours from now at 00:00AM BST (01:00AM GMT/UTC).

Any news of that FPGA announcement you have been promising for weeks now ?

I want to be able to weight my options : Lancelot vs yohan's board vs your mystery board

Thanks !

+1

The supplier should have all the parts for a complete production run within a week as we are expecting our second board to ship within two weeks.  So maybe once he has some boards to sell then he'll go public for orders.  Anyone who wants to pre-order for 2BTC commission then I can show them the order page will full specifications and photos where they can order from to confirm their order from this limited first full production run.  The boards cost $1129 and are ~800MH/s@~40W.  Other than that I will be giving out no other information until after the supplier has gone public.

[matthewh3]

I may move the board over to - https://polmine.pl/ - As MtRed NMC merged mining is currently down and this new pool also offers 0% fees PPS (tho we will pay a 0.1% donation to support the pool to be able to offer such a good offer[as decided via a motion]), NMC merged mining and it also shares the transaction fees earned off the block.  Althoug with it being such a small pool probably on average only four blocks will be found a week (so we will get a bigger share).  So the dividends would vary by (+/-)20% a week.  Also with it being such a small pool we are supporting the diversifying of the BTC blockchain network.  So what do people think shall we change the pool due to all the NMC we are missing out on or wait for our current pool MtRed to reimplement merged-ming.  Which they say they will tho there is no date for it yet.

Also it looks like the first weekly dividend will be paid shortly before 00:00am GMT/UTC tonight (Friday 2012/05/04) and maybe as early as 21:00 GMT/UTC being around ~0.0020 per share.

[bulanula]

I may move the board over to - https://polmine.pl/ - As MtRed NMC merged mining is currently down and this new pool also offers 0% fees PPS (tho we will pay a 0.1% donation to support the pool to be able to offer such a good offer[as decided via a motion]), NMC merged mining and it also shares the transaction fees earned off the block.  Althoug with it being such a small pool probably on average only four blocks will be found a week (so we will get a bigger share).  So the dividends would vary by (+/-)20% a week.  Also with it being such a small pool we are supporting the diversifying of the BTC blockchain network.  So what do people think shall we change the pool due to all the NMC we are missing out on or wait for our current pool MtRed to reimplement merged-ming.  Which they say they will tho there is no date for it yet.

Also it looks like the first weekly dividend will be paid shortly before 00:00am GMT/UTC tonight (Friday 2012/05/04) and maybe as early as 21:00 GMT/UTC being around ~0.0020 per share.

Why only PPS pools

They are most likely to fail and you get robbed of earnings IMHO.

Stick to DGM or PPLNS pools and 0.5 fee etc. to ensure consistent earnings.

[matthewh3]

The first weekly dividend of 0.00209389BTC per share has been paid.  3.42560434BTC over 1636 shares.  They are 664 shares left to sell at 0.40BTC as the second part of the IPO to pay for board #3.  Board #2 should ship within the next two weeks.  Plus we already have 0.44299762BTC towards next weeks dividend.

[SaltySpitoon]

Do you use RedStar OS? The Official operating system of North Korea.

[matthewh3]

Do you use RedStar OS? The Official operating system of North Korea.

No never heard of it I use Xubuntu.

[matthewh3]

The new FPGA company has gone public - http://www.coinconnect.org/blog/view/46005/first-dividend-and-share-issues

[matthewh3]

The new FPGA company has gone public - http://www.coinconnect.org/blog/view/46005/first-dividend-and-share-issues

You can ask initial questions about the board in this thread - https://bitcointalk.org/index.php?topic=79114.0

[matthewh3]

Each board has power connections for two 80mm fans.  The Sparten6 chips will probably last longer and mine harder the cooler they are.  So was going to buy two of these £8.99 fans - http://www.ebay.co.uk/itm/Sharkoon-Silent-Eagle-1000-80-mm-Case-Fan-/370574630016?pt=UK_Computing_Case_Fans&hash=item5647f81c80#ht_2212wt_1165 - per board.  I know £8.99 is expensive for a 80mm fan but that does include delivery plus these are the quietest fans available (please tell me if you can find a quieter fan with the same or better airflow) and it's me who has got to put up with all the noise.  As it's two fans per board so by the time we have >10 boards that's a lot of fans and would be too noisy with normal fans.  Two fans will also add <3W per board or £0.06 per board a week on top of the current £0.76 a week per board operating costs.  Does anyone disagree with this idea if so I put the idea forward as a motion.  The board is currently operating with just one 80mm fan I have borrowed and I'm not charging any electricity charges at all until we have board #2.

[Sukrim]

What about a cardboard box + 30 cm household fan on low setting + big attachable heatsinks (aluminium "grills") on the chips themselves?

If you plan with lots of FPGAs to come, it would make more sense in my opinion to consolidate cooling efforts than to start with expensive small fans that will get thrown away/sold at a loss in a few weeks/months anyways.

[matthewh3]

What about a cardboard box + 30 cm household fan on low setting + big attachable heatsinks (aluminium "grills") on the chips themselves?

If you plan with lots of FPGAs to come, it would make more sense in my opinion to consolidate cooling efforts than to start with expensive small fans that will get thrown away/sold at a loss in a few weeks/months anyways.

I think two 80mm fans placed right next to the heatsinks will provide the best cooling.  As the heatsinks fins are placed horizontally on the boards so small low height fans are best.  Maybe two 60mm fans would be best but they are more expensive than 80mm fans.   There is these - http://www.ebay.co.uk/itm/Fractal-Design-8cm-80mm-Silent-Cooling-PC-Case-Fan-/160767613954?pt=UK_Computing_Case_Fans&hash=item256e7f1c02#ht_1787wt_1165 - at £4.25 each just over half the price but they are over 2dB(A) louder which in decibels means there over twice as loud tho they do have about 40% more airflow.  I could go with those and if the noise level is problem once we have >10 boards (which is probably going to take well over year the way the shares are selling) then go about replacing the fans for the more expensive quieter Sharkoon Silent Eagle 1000's.  I expect the fans to last a long time as all the fans on this >6yr old PC I'm using are all still OK.

Edit:  I don't really want to replace the heatsinks for fear of voiding our warranty.

[Sukrim]

Decibel numbers given by fan manufacturers are as reliable as believing that your car uses as much gas per kilometer/mile as the manufacturer claims... Try to get some tests from independent sites.

Also, why not a 160mm fan, or 3 120mm per 2 boards? The bigger the fan, the cheaper + more silent the cooling. Airflow is also not everything - if you manage to get a directed stream of air that can't just be sucked in from the exhaust or circulated over the edges of the fan it might be better than pointing a "cold hairdryer" at the units.

[matthewh3]

Decibel numbers given by fan manufacturers are as reliable as believing that your car uses as much gas per kilometer/mile as the manufacturer claims... Try to get some tests from independent sites.

Also, why not a 160mm fan, or 3 120mm per 2 boards? The bigger the fan, the cheaper + more silent the cooling. Airflow is also not everything - if you manage to get a directed stream of air that can't just be sucked in from the exhaust or circulated over the edges of the fan it might be better than pointing a "cold hairdryer" at the units.

I think 160mm and 120mm fans would be to tall and 60mm fans to noisy and maybe a bit low.  The horizontal fins of the heatsinks range from about >10mm to 80mm in height so I'm taking the manufactures advice with 80mm fans directly on the heatsink fins.   Will probably get the basic 1400rpm £4.25 fans then if noise does become a problem then start to replace them for the 1000rpm silent eagles.  It only takes commen sense to know the slower the fan the quieter.  If you look at the picture you can probably tell the best cooling method is to get air between the horizontal heatsinks fins which range from >10mm to about 80mm in height and all the heatsinks together about twice that in length.

e

Edit:  It's the heatsinks horizontal fins which need cooling not the boards in general.  So the idea is to get air flowing over all the heatsinks horizontal fins.

[steelhouse]

If you can run them without fans I think that would be better in the long run.  Maybe if they were mounted vertical and near the ground, natural convection currents would be enough to keep them cool.  Maybe get fanless power supplies and fanless motherboards and have a completely quiet set-up.

[matthewh3]

If you can run them without fans I think that would be better in the long run.  Maybe if they were mounted vertical and near the ground, natural convection currents would be enough to keep them cool.  Maybe get fanless power supplies and fanless motherboards and have a completely quiet set-up.

Yeah the heatsinks don't get that hot anyway just thought with fans the chips might last longer and run harder.

[matthewh3]

If MtRed have no news about bringing NameCoin merged mining back by the time the next dividend payment is being arranged this Thursday (2012/05/10) then I'm changing the pool to - https://polmine.pl - as they also offer 0% fees (tho we will continue the 0.1% donation to help keep the pool being able to offer such low fees), PPS payouts, merged mining with NMC and also IXC and IOC merged mining.  This is a very small pool so we will be supporting the variation of the bitcoin blockchain network but this also means the dividend will vary by (+/-)20% a week due to them finding less blocks (which we will get a bigger share of).

I will be putting forward the motion on whether to buy fans to cool the Sparten6 chips to help lengthen their lifetime and help them mine harder longer.  As the board hashes anywhere between >1GH/s down to <0.7GH/s because the board is mining as hard as it can but cuts down the hash-rate once it gets too hot.  So if we can keep the heatsinks cooler they should mine harder for longer plus live longer.  The fans cost £4.25 each and two will be used per board.  Costing £0.06 a week per board on top of the boards £0.79 normal running costs.

[bulanula]

If MtRed have no news about bringing NameCoin merged mining back by the time the next dividend payment is being arranged this Thursday (2012/05/10) then I'm changing the pool to - https://polmine.pl - as they also offer 0% fees (tho we will continue the 0.1% donation to help keep the pool being able to offer such low fees), PPS payouts, merged mining with NMC and also IXC and IOC merged mining.  This is a very small pool so we will be supporting the variation of the bitcoin blockchain network but this also means the dividend will vary by (+/-)20% a week due to them finding less blocks (which we will get a bigger share of).

I will be putting forward the motion on whether to buy fans to cool the Sparten6 chips to help lengthen their lifetime and help them mine harder longer.  As the board hashes anywhere between >1GH/s down to <0.7GH/s because the board is mining as hard as it can but cuts down the hash-rate once it gets too hot.  So if we can keep the heatsinks cooler they should mine harder for longer plus live longer.  The fans cost £4.25 each and two will be used per board.  Costing £0.06 a week per board on top of the boards £0.79 normal running costs.

I would be very wary of such small pools without active forum presence and 0% fee PPS ( very dodgy and unsustainable for the most part ).

https://bitcointalk.org/index.php?topic=50779.0 to see an example of their actions in the past.

They might have changed but I would not advise going for this route. I think it would be better if you stuck to something like 3% PPS fee so the OP is less inclined to pack up and run.

0% fee PPS is not sustainable unless you are hopping or doing some other "magix" IMHO and very dangerous and real danger of folding quickly if pool is unlucky.

Also see the dangers of SMPPS by meni !

[matthewh3]

stay at mtred no polmine

or maybe same pool as MergedMining

We'd make more money with Polmine.  Who do MergedMining mine with?

[matthewh3]

Summary

A new FPGA company with an aggressive growth strategy the first round of the IPO consisted of 1600 shares at 0.3BTC each to purchase two ~800MH/s@~40W FPGA boards the second round consists off 700 shares at 0.4BTC to purchase FPGA board #3 to take the weekly dividend to over 0.0040000BTC

Once we have board #3 2.4GH/s@125W over 2300 shares the weekly dividend will be over 0.00400000BTC per shares even tho I stated that after we are operating over 2.4GH/s 2% of profits or 1BTC a month [whichever is greater] is going to be used by RSM to buy back its own shares to increase the price and help expand the company.  Apart from that move to expand the company once 2300 shares have sold and we have board #3 I plan on putting forward the motion to issue more shares to purchase board #4 to increase the weekly dividend again.  After that I plan then to put forward the motion for board #5, then #6 and so on each time to increase the weekly dividend.

Can I assure you your investment is fully protected unlike some of our competitors.  In the event of the company folding all the hardware will be sold and paid in one big dividend to all shareholders.

The first weekly dividend of 0.00209389BTC per share has been paid.  3.42560434BTC over 1636 shares.  They are 664 shares left to sell at 0.40BTC as the second part of the IPO to pay for board #3.  Board #2 should ship within the next two weeks.  Expect your next weekly dividend by 00:00am 2012-05-11.

Only 600 shares remain at 0.40BTC each after they have sold I will be putting forward the motion to issue more shares at an inflated price above 0.40BTC for the purchase of board #4 to raise the weekly dividend again.

Updated the OP.