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Author Topic: [GLBSE] Introducing: Bitcoin Syndicate, a new mining op trading publicly!  (Read 21409 times)
BinaryMage
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February 28, 2012, 04:37:45 PM
 #81

Lol, I saw mila's post last night, and was going to come and reply this morning, only to see this exchange lol... Nice.

And why secondlife? I could setup our own opensim server fairly easily (which still works with the secondlife client and it's opensource forks), and run our own virtual meeting space... Amusingly enough, that's not that bad of an idea lol... Anyway, I'm too busy to tackle that right now, once the syndicate is into "operational" mode, my work load will reduce. Right now lots of work in orchistrating everything, and piled on top of my work in R&D on our own FPGA mining solution, as well as sorting out a few of the other things I already had started. (and of course my full time day job) lol...

But yeah I kinda like that idea.

Anyway, you may resume your feigned political intrigue now Wink

(also I'll have an update later today about our first order of mining gear!)

That would (seriously) be really cool. But I agree, it is of second priority to R&D on FPGA mining. Great job with what you're doing, by the way; it's extremely impressive and well thought-out.

-- BinaryMage -- | OTC | PGP
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Glasswalker
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February 28, 2012, 05:30:51 PM
 #82

Just posted this in one of the water cooling discussions. Thought you guys might like to see it:
https://bitcointalk.org/index.php?topic=63879.msg773846#msg773846

Smiley

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
gewure
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March 01, 2012, 12:24:19 AM
 #83

im in with 0,5% of BTCSYN or 60 shares
Glasswalker
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March 01, 2012, 03:12:48 AM
 #84

Excellent! welcome to the syndicate! Have you sent me your transaction id via PM or email? and registered on the btcsyn forums? (then I can grant you shareholder access)

Also mila, thanks for the heads up. Not sure where that came from. Might have been as simple as a cat running across the keyboard when I got up for a drink lol... (the code is checked into source control very regularly, so no concerns about that). random nonsense removed from page Wink

Also sorry for the silence. I've been busy with a couple things:
- Getting our BFL gear order sorted out (order done, waiting on confirmation)
- Server build for P2Pool, and new dedicated mining pool box
- Migration to that server
- A few other things Wink

Anyway, once I wrap the rest of this stuff I'm hoping to do a nice big formal update post. Just a little longer.

Thanks!

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
Glasswalker
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March 01, 2012, 04:29:51 PM
 #85

I'm still rather busy, but I've posted the Massive Braindump Of Doom on our btcsyn forums. For those interested in sifting through the jumbled insanity in my head, please feel free to head over and read it at:
http://forum.btcsyn.com/viewtopic.php?f=6&t=31

I'll post more meaningful updates as I complete some of these ongoing parallel tasks.

Thanks!

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
BinaryMage
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March 01, 2012, 05:44:24 PM
 #86

I'm still rather busy, but I've posted the Massive Braindump Of Doom on our btcsyn forums. For those interested in sifting through the jumbled insanity in my head, please feel free to head over and read it at:
http://forum.btcsyn.com/viewtopic.php?f=6&t=31

I'll post more meaningful updates as I complete some of these ongoing parallel tasks.

Thanks!

Thanks for keeping us in the know. Hopefully BFL will get the order processed soon.

-- BinaryMage -- | OTC | PGP
Nefario
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March 03, 2012, 08:40:04 PM
 #87

The demo version of GLBSE2.0 has been updated.

Since this is going to be the system you guys will be using it very soon please go over to http://dev.glbse.com and give it a try.

Create a new share, sell them (create a fake account to test buying them), create some new motions, pay dividends and play around in general.

2.0 is a big step away from the current system, and it's important that you're ready for the change over.

Here's the release notes
https://bitcointalk.org/index.php?topic=60489.msg781561#msg781561

PGP key id at pgp.mit.edu 0xA68F4B7C

To get help and support for GLBSE please email support@glbse.com
Glasswalker
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March 04, 2012, 02:57:37 AM
 #88

Hey thanks for the update Nefario! I look forward to playing with it a bit!

Also, a quick update. Still no word from BFL. Since nobody else is hearing back either, I'm assuming they are busy with shipping orders. We'll give them a bit more time, but not too much. Our shares are selling like crazy, and the IPO is almost done. If we sell out completely, I'll send a "strongly worded" email to BFL (and perhaps try to track down a number for them to call). If that results in no traction in a reasonable time, we may have to default back to the next best option.

The concern is that if we spend months waiting on BFL, even though it's faster gear by a bit, if we waste 2 months of potential mining, it counteracts the performance advantage.

Anyway, I REALLY want it to work out with them, as their products are exciting, but we have to look at the best solution in the here and now.

As for the server move to P2Pool, it's progressing in testing now. Unfortunately we suffered some technical difficulties with our main mining proxy server which resulted in a mining downtime today. This has been corrected now, and things are running again as usual.

I'll post another update soon, hopefully with some real progress!

Thanks!

(by the way, seriously shares almost sold out! as of the time of this post, there are 554 left for sale! That's it! And once we get our first batch of gear in, expect those shares to soar in value, a lot higher than 0.25! So now is your chance to grab them while they are hot!)

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
dollartrader
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March 04, 2012, 04:38:50 AM
 #89

Quote
(by the way, seriously shares almost sold out! as of the time of this post, there are 554 left for sale! That's it! And once we get our first batch of gear in, expect those shares to soar in value, a lot higher than 0.25! So now is your chance to grab them while they are hot!)

Was waiting on some confirmations but too late, oh well I did get some  at .25, just wanted more. - Gone! Ask - .33
gewure
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March 04, 2012, 06:32:02 AM
 #90

... i wanted to increase my position to at least 1% untils the IPO is sold out. to late. but im anyway comfortable with it. should have been faster, maybe i spare some coins for the next IPO (if you do one at all?). lowest asks now > 0.33.

Glasswalker
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March 04, 2012, 06:05:10 PM
 #91

Another big update:

First let me say WOOHOO! Congrats to everyone on making this IPO a major success!
And a huge thanks to all investors!

IPO is now 100% sold out, and shares are trading on open market (and the value is already increasing!)

Also, We're now testing on P2Pool actively, it's working well so far (right now one worker working on P2Pool). But our mining proxy doesn't play nice with it (which is why the Paul worker is not showing active, it's on P2Pool). So we'll have to do a full cut-over to P2Pool directly soon. I'll leave my test running a little longer to confirm everything is good, after which we'll cut over all the miners, and switch the website to point at the P2Pool stats. this will interrupt stats reporting somewhat on our public site, but will NOT affect the actual mining speed. (only what's reported, since we have to cut over hard, no soft transition possible).

Lastly, there is some concern of late with the timelines, and viability (not to mention growing concerns of an elaborate scam) revolving around the ButterflyLabs hardware. We had planned on a purchase of their gear (and have an order in, but unconfirmed and unpaid due to their silence). We are now re-evaluating this. There is some discussion, and a poll on our forums about this, and based on the decision we may decide to cancel the order and go with an alternative FPGA option.

This isn't a decision we make lightly, as the BFL gear offered the best price/performance ratio, but if it's going to be months before it ships (or worse, it's a scam) it is not worth it for the added performance. And right now we have approx 1700BTC to spend on mining hardware. We want to make sure we make the right decision with that money.

Please head over to our forums at http://forum.btcsyn.com/ and check out the announcement and polls section for more info on all of the above. And feel free to jump into the conversation in the other threads too.

That's it for now, I'll post more updates as I have them.

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
Glasswalker
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March 04, 2012, 09:45:01 PM
 #92

A quick update. I thought this should go here to notify those of your curious about the status, of our BFL Hardware order.

I have received 2 good responses from BFL at this time. And you can see the full thread, along with our shareholder poll to make a decision going forward here:

http://forum.btcsyn.com/viewtopic.php?f=7&t=37

Here are the full emails:

Here's the email I Sent them:

Code:
Hello, I recently placed an order for 7 Singles. I now have funds for my second batch of 7+ Singles as well, and have yet to even hear back from you about the first order (with even a simple automated response with an order number, or anything).

I require a response immediately. As I have shareholders to answer to. Without further response, I may be forced to cancel my order and go with an alternate option.

There is much speculation in the community that you are either:
A) A scam (admittedly an intricate one)
B) Incompetent at running your business.
C) Just badly overworked, and a nice new startup that wants to do good for the community, and provide a great product.

But C is definitely loosing that race.

I've been in your shoes before, doing a massive import/fulfillment/manufacturing business on minimal staff (1-3 people at most). And having customers banging down my door with orders, and questions, and QC problems, and support questions, all while trying to fulfill orders.

But the lack of any response when there are DOZENS of simple ways you could alleviate it with minimal effort is unacceptable. You could add an auto-responder to your email. You could have your website automate order confirmations with minimal work, if you're taking in that many orders that you have been able to do nothing else but that (not even answer emails) for over a week now, then you are likely doing enough sales to justify a minimum wage student for a couple hours a day to answer emails. (unless your significantly underpricing your product, in which case we go back to B above).

Ultimately you need to do something to re-assure people. Waiting a week or more for a simple order confirmation for people looking to give you money is unacceptable. Period.

I really wanted to see you guys succeed, and hoped your products would pan out, as you have the best price/performance out there. I was excited, and looking forward to getting my Singles (and in the future hopefully a Rig or two). But I can't wait months with money tied up waiting on you guys. That same money could be put to an alternative, and could easily make up for the performance difference in the time I'm spending waiting with it idle.

Also as I said, I have shareholders to answer to, and this isn't entirely my decision.

So don't disappoint me here, please respond ASAP and let me know what's going on (and do yourself a favor and do SOMETHING to solve the black hole of customer service you have right now, to restore the communities faith in you).

Thanks.

- Paul
CEO of the Bitcoin Syndicate

And their response:

Code:
Hi Paul, I appreciate your comments.  I really do.  It's a special sort of pain knowing  our customers wait and wonder. 

However, the rush of emails and contact attempts simply overwhelmed us and we had to make a difficult choice.    Production or PR.  We're schedule to dedicate some time to catching up on our email this week and it's my hope that our customers will find the means to accept our apology for the radio silence.  Certainly our original customers may as it means they get their units.

Please stand by, we'll resume normal communication within the next couple days.

Kind regards,
Sonny K
BF Labs Inc.

PS.  Feel free to share my comment with anyone else you know would be comforted by it.

I've informed them that the poll is in effect, and that they have until monday to respond and possibly sway the vote in their favor. But they have to answer several questions, and provide a guaranteed ship date in that email. Hopefully I'll get another response.

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
Glasswalker
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March 04, 2012, 09:54:14 PM
 #93

Here is the response back from Sonny at BFL to my questions. Seems I've got his attention now (he put my questions inline):
(as before you can follow the discussion and poll at: http://forum.btcsyn.com/viewtopic.php?f=7&t=37 )

Code:
Hi Paul,

Not to make your customer service experience any worse...  but this is a good example of the immediate difficulty.  Email inquiries turn into ongoing conversations with several rounds of followup. 

In any case, you have my attention and I'll do my best to answer your questions.
 
- What revision (Rev1? Rev2? Rev3?) will our order be?

New orders at this point will be getting Rev3.  Rev 3 has a proprietary heat pipe thermal solution which comes out of manufacture 2 weeks from now.  Rev 3 also uses a few different parts all of which reduce heat generation or increase heat tolerance which are already on Rev 2 boards.  A bottom fan is used in Rev 1 & Rev 2...  and may or may not be used on Rev 3 depending on tests.
 
- What date can you guarantee shipping by for our order?

4-6 weeks from the date of payment.  Now that we're in production, the timelines are much tighter, so earlier may be possible, but please assume 4-6 weeks at this point.
 
- Can we increase our order in size, now that we have our second wave of growth budget available?

You can only increase order size via new orders.  We can't retroactively increase volume on orders as it would impact others.
 
- Considering we're looking at buying 15+ units, can you do something to help us out due to the inconvenience? (a small discount, or a free Single unit, which would be less than a 7% discount which is not unreasonable I think). In this one time case due to the circumstances.

I wish I could help you there, Paul but in all likely hood we'll probably be increasing the price of the units as we get the time to focus on increasing their performance.   

- I'll leave it at that, and I hope you guys start to see the light. As I said I've been there, and know what your saying, but going forward, PLEASE look into some automation to stop this from happening again ;)

I've also been on your side and share your concern about the agony of crap response time.  I can assure you it's not an accurate refection of the way we run our company.  I trust you'll happily agree in due course.

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
Glasswalker
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March 05, 2012, 09:08:35 PM
 #94

Based on the decision in the poll to switch to Icarus mining hardware, this motion is to go ahead with that purchase. This motion is under a tight timeline so please vote promptly.

The Motion ID is #85 and it will run until Tuesday March 6th 2012 at 5PM EST.
Please log into GLBSE and Vote ASAP.

Motion Text:
BTCSYN Motion:
This motion is to spend the 1700BTC we have on 17x Icarus FPGA Mining boards (including shipping) as decided in the poll on the forums. In addition 25BTC will be paid out to the CEO (Paul Mumby) to compensate for approximately $120 in hardware required to support the FPGAs (new power supply, DC connectors, some wiring, USB hubs, and cooling fans, as well as some materials for the chassis). These parts will be aquired locally to avoid shipping charges, and will be paid in cash, then sold to the syndicate for 25BTC flat price. This motion has a short timespan, and will end on the 6th of March at 5pm EST. Note this motion will be immediately considered successful earlier than this (in the interests of time) if at least 7201 yes votes are received, 60% of total circulating shares).

Edit: Note: as of 4pm EST March 5th, the motions aren't working apparently on GLBSE... I've contacted Nefario and am hoping for a resolution soon. Unfortunately I can't extend the timeline much without risking our deadlines, so please watch for an update... Thanks for your understanding.

Edit: As of 4:30pm EST March 5th, issues resolved. Motion 85 can be voted on now!

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
mila
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March 05, 2012, 09:22:25 PM
 #95

just a quick update there are two very similar motions #85 and #84
you instruct shareholders to vote in the #85 motion. just to parrot what I understood

your ad here:
Glasswalker
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March 05, 2012, 09:24:18 PM
 #96

yeah this is a result of the issue on GLBSE, I'll have nefario delete 84 so it's not confusing. There was a date shift happening somehow, so the motions were "auto-expired" I recreated it thinking I did something wrong the first time, but it also autoexpired, so that's how we got 2 similar ones.

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
Glasswalker
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March 05, 2012, 09:33:13 PM
 #97

Problems resolved. Thanks Nefario!

Motion now live and can be voted on!

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
Glasswalker
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March 06, 2012, 02:24:06 PM
 #98

Congrats everyone!

Our first order of FPGA miners is now bought and paid for. We just successfully ordered 17 brand new Icarus FPGA miners, which have been confirmed, and we have a confirmed ship date of the 11th of March via EMS Express.

Once I have a tracking number I'll let you all know. (but for security reasons I won't be posting the tracking number publicly)

Once they are on their way, I'll go out and pick up the remaining hardware needed, so we can have them up and running within a few days of their arrival!

Woohoo! 12GHash/s here we come!

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
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March 06, 2012, 07:41:55 PM
 #99

What happened today?

It slowly started dropping about 5 hours ago from ~4.5 GH/s down to about 1.75GH/s 4 hours ago, and has since slowly started rising to a touch over 2GH/s.

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Glasswalker
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March 06, 2012, 07:47:27 PM
 #100

Check our our forums at http://forum.btcsyn.com
(specifically: http://forum.btcsyn.com/viewtopic.php?f=6&t=34)

I guess I should have posted it here too Wink lol

We're currently transitioning miners over to P2Pool. They are still mining for the syndicate but because our mining proxy (Which gathers the stats) doesn't play nice with P2Pool, it's one or the other. So while we transition over the graph shows a decline, then once we're over, I'll adjust the site to source the graph data from P2Pool so that it shows the correct values.

Yes I could build some kind of hybrid, but that would take a lot of effort and I don't have a lot of time right now Wink lol

If you want to see the specifics you can look at the stats page. There is a graph there from P2Pool showing where the added mining is going.

Lastly there has been a slight hit to one of our miners due to some uncontrollable circumstances causing power outages for him. That's causing some of his miners to be popping on and offline over the next week. But that should only see fluctuations of around 1Ghash. The big dip you're seeing now is because of the migration over to P2Pool.

Just trying to make Bitcoin a Success... One crazy project at a time. (13rwPKskyATcAq3PpnCikfFG8989DQ8M3c)
HashVoodoo Open Source FPGA Mining Bitstream: https://github.com/pmumby/hashvoodoo-fpga-bitcoin-miner
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