[2014-06-04] Novello starts $4.2m Indiegogo campaign for "ultra low cost" ASICs

[b!z]

http://www.reddit.com/r/Bitcoin/comments/27asgp/novello_starts_42m_crowdfunding_campaign_for/

What do you think? Do these guys have any chance of succeeding in the mining arms race?

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[roslinpl]

http://www.reddit.com/r/Bitcoin/comments/27asgp/novello_starts_42m_crowdfunding_campaign_for/

What do you think? Do these guys have any chance of succeeding in the mining arms race?

They have a chance for sure.
I hope they will succeed as "ultra low cost" ASICs sounds like something good for new miners, isn't?

I believe if they are starting such campaign they have got some plan already and well ... failure is always an option. But I will be loorking on this campaign and I hope I will be able to buy Novello's ASICs in the future


Thanks for sharing this news.

[kjlimo]

Haha, $4,009 of $4.2M raise so far... yep, this is gonna happen...

[Ron~Popeil]

That is a cause worth getting behind. Low cost asics can solve the "centralization of mining" problem really quickly. 

[IYFTech]

Waiting for the magic disappearing act - ***puff*** - gone. Them & the money - never to be seen again.........

[Swordsoffreedom]

http://www.reddit.com/r/Bitcoin/comments/27asgp/novello_starts_42m_crowdfunding_campaign_for/

What do you think? Do these guys have any chance of succeeding in the mining arms race?

Perhaps they are targeting a different market on indiegogo than here that isn't as tired of preorder promises
That said I don't think this one will succeed to much of an ask
-  Deliveries will start Dec 2014

I would ask to see the chip itself and the design that said it may be competitive with Asicminer Gen 4

That said I can get half the power now with 100 RX BOX 1200 units for 2 BTC no Pre-Order
Possibly going to Par with the equivalency promise
Or wait till December for the equivalent $30,000 (120TH/sec)
http://shop.rockminer.com/goods.php?id=35

[Ron~Popeil]

Waiting for the magic disappearing act - ***puff*** - gone. Them & the money - never to be seen again.........

That is the risk you take with these start ups. I hope it works out though. It could be a really good thing for the community.

[bryant.coleman]

So far they have raised some $5,997, out of the $4.2 million required. That is around 0.1% of the target. Still 25 days are remaining.  What will happen if the target is not reached? Will the funds be sent back to the contributors?

[Mr Crabs]

Waiting for the magic disappearing act - ***puff*** - gone. Them & the money - never to be seen again.........

That's what I was thinking but doubt they'll get anywhere near their goal anyway.

[LiteCoinGuy]

So far they have raised some $5,997, out of the $4.2 million required. That is around 0.1% of the target. Still 25 days are remaining.  What will happen if the target is not reached? Will the funds be sent back to the contributors?

yes of course


https://www.indiegogo.com/projects/ultra-low-cost-bitcoin-mining-systems--2


i dont think that their campaign will succeed.

[kjlimo]

Waiting for the magic disappearing act - ***puff*** - gone. Them & the money - never to be seen again.........

That's what I was thinking but doubt they'll get anywhere near their goal anyway.

All successful $4.2M ventures are crowdsourced, right?

[Ron~Popeil]

So far they have raised some $5,997, out of the $4.2 million required. That is around 0.1% of the target. Still 25 days are remaining.  What will happen if the target is not reached? Will the funds be sent back to the contributors?

yes of course


https://www.indiegogo.com/projects/ultra-low-cost-bitcoin-mining-systems--2


i dont think that their campaign will succeed.

They should break that down into funding rounds. 4.2 million is a really lofty goal for one round.

[bryant.coleman]

They should break that down into funding rounds. 4.2 million is a really lofty goal for one round.

I don't know whether that will be a record, if they manage to achieve it. Recently the movie project on Gosnell had successfully raised funds worth some $2 million on Indiegogo. 

[Ron~Popeil]

They should break that down into funding rounds. 4.2 million is a really lofty goal for one round.

I don't know whether that will be a record, if they manage to achieve it. Recently the movie project on Gosnell had successfully raised funds worth some $2 million on Indiegogo. 

That is impressive. I would love to see governments have to fund raise for projects like this. 

[Swordsoffreedom]

I think that they set the bar way to high for what you can expect of an indiegogo campaign
I will admit that the top bar is 10.5 Million + to my knowledge for the Ubuntu Edge didn't check the end value for it
That said ASIC mining may be to new to the users over there to get behind.
http://www.foxnews.com/tech/2013/08/16/105-million-crowdfunding-record-set-on-indiegogo-for-ubuntu-edge/

[IYFTech]

Waiting for the magic disappearing act - ***puff*** - gone. Them & the money - never to be seen again.........

Well, it's beginning to look like I wasn't far wrong - check their thread out - scam accusations galore:

https://bitcointalk.org/index.php?topic=638729.160

Popcorn time......

[bryant.coleman]

Well, it's beginning to look like I wasn't far wrong - check their thread out - scam accusations galore:

https://bitcointalk.org/index.php?topic=638729.160

Popcorn time......

Hmm... this was more or less expected. And I am glad that they received funds only worth some 0.1% of the required amount. But still, who are those idiots, who contributed $6,000?

[kjlimo]

Well, it's beginning to look like I wasn't far wrong - check their thread out - scam accusations galore:

https://bitcointalk.org/index.php?topic=638729.160

Popcorn time......

Hmm... this was more or less expected. And I am glad that they received funds only worth some 0.1% of the required amount. But still, who are those idiots, who contributed $6,000?

Same people buying lottery tickets as an investment strategy?

[Ron~Popeil]

Well, it's beginning to look like I wasn't far wrong - check their thread out - scam accusations galore:

https://bitcointalk.org/index.php?topic=638729.160

Popcorn time......

Hmm... this was more or less expected. And I am glad that they received funds only worth some 0.1% of the required amount. But still, who are those idiots, who contributed $6,000?

Same people buying lottery tickets as an investment strategy?

"A fool and his money are soon parted."

[bryant.coleman]

"A fool and his money are soon parted."

Hmmm... that is probably what happened. Another one to the long list of Bitcoin-based scams. But this time there is a difference. I think that most of the investors were hearing about ASICs / Bitcoin for the first time. (Experienced Bitcoiners will readily recognize it as a scam).