[ANN] OpenBitASIC : The Open Source Bitcoin ASIC Initiative

[uuidman]

I wonder what BFL heading for per chip vs this project. Jalapeno is 3,5Gh and single SC 40GH/s that could be 2x20Gh chips in the same power range, around 40w if 3,5Gh draws 3.5-4.5 w from usbport. But that also imply disabled areas (or lower quality chips) or downclocked to a 1/5th. The other alternative would be a 4Gh chip and in the single 10x of that.
Nah, dont seems reasonable, should be a lot more expensive I guess.

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[||bit]

I wonder what BFL heading for per chip vs this project. Jalapeno is 3,5Gh and single SC 40GH/s that could be 2x20Gh chips in the same power range, around 40w if 3,5Gh draws 3.5-4.5 w from usbport. But that also imply disabled areas (or lower quality chips) or downclocked to a 1/5th. The other alternative would be a 4Gh chip and in the single 10x of that.
Nah, dont seems reasonable, should be a lot more expensive I guess.

I don't know that it matters a great deal. The hashing costs and required energy are low for both. The advantage of the open project might be that they either make things competitive and  this drives price down, or that they are more alturistic to the community and reduce the cost to very low to those that want to buiold their own boards...and sell them bulk chips.

Once initial costs haver been paid for, how much do you think it costs to make a chip in a Jalapeno, for example, to generate the 3.5GH? Let's say they are using just one chip. Is it $5? The open asic project/initiative as way to really drive down these costs substantially.

All in all...it won't really matter too much after another year. Like they said, asic is the endgame technology, or at least for as far as we can see. And considering that everyone has a certain amount they are willing to invest in hardware for mining... I thnk that last point is the real endgame factor on how profitable things will be for individual mining. Btc will be divided proportionally. Now is only a time to try to get a boost ahead of the curve by simply making enough to re-invest into hardware later.

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[matthewh3]

This project aims to the design, manufacture and selling, of an open source ASIC for bitcoin mining.

Roadmap proposal :

1. Registering company in a business friendly and open jurisdiction, with near access to ASIC manufacturers (e.g. HK, Singapore). The company will be in charge of comissioning the manufacture and further selling of ASIC's.

2. Open calling to ASIC designers and ASIC design companies. All the design steps will be open sourced. Design will be peer reviewed and proposed improvements will be made before next step.

3. Manufacture testing, thru a small quantity manufacture. Testing and improving design.

4. Production manufacture, first round.

5. Selling to miners.

6. Improvements, changes, etc.

7. Further manufacture rounds.


UPDATE April 26 : Company registration in process in Hong Kong. Jason is working on the preliminary design.
  

UPDATE June 29

So you can beat BFL on price or efficiency or both?

[rjk]

Why are you so impatient?

[matthewh3]

Why are you so impatient?

Because I'm tempted to buy a BFL-Single-FPGA for my GLBSE listed mining company RSM to increase profits and then trade in for an ASIC but I really like this project.  So I want to know if it's worth holding off that BFL-Single-FPGA purchase.

[Gomeler]

Why are you so impatient?

Because he's incredibly spastic. Just check out his mining company.

[matthewh3]

Why are you so impatient?

Because he's incredibly spastic. Just check out his mining company.

The mining company is doing just fine.  We have purchased over $2,000 of FPGA's have well over a 100btc saved and are now making are biggest profits to date.

[Tyger]

$2,000 is nothing compared to some advanced miners.

[matthewh3]

$2,000 is nothing compared to some advanced miners.

Yeah but at the moment we're earning 0.003611111btc a week per share and have 110btc towards another miner to increase that.  If we bought a BFL-Single now we could pay a 0.0050btc a week dividend.  Which isn't bad considering the original IPO was 0.30btc per share.

[sadpandatech]

$2,000 is nothing compared to some advanced miners.

Yeah but at the moment we're earning 0.003611111btc a week per share and have 110btc towards another miner to increase that.  If we bought a BFL-Single now we could pay a 0.0050btc a week dividend.  Which isn't bad considering the original IPO was 0.30btc per share.

aye, at about 62.5% per year that would be one of the highest mining company payouts. At last check, maybe a month ago or so, the average mining company was paying like 30-40% anually.


Can we get back on topic though?  Did the legal entity for this get registered? Are there any software simulations of anything at this point? Any more talk happening about an IPO or bond setup to support this?

cheers

[jjshabadoo]

I really wish I knew jack about these ASICS. I swear to god there has to be a way to just f'in get this done. There are about ten different business models we could use that would be a win for everyone involved as opposed to just one monopolistic player like we have now.

If the community could come together and do this ASIC thing right, we could have a petahash going in no time and everyone could get a reasonable profit out of it.

Put it all on P2Pool and boom, mining is all set and we can all just focus on bitcoin adoption.

[BlackPrapor]

I really wish I knew jack about these ASICS. I swear to god there has to be a way to just f'in get this done. There are about ten different business models we could use that would be a win for everyone involved as opposed to just one monopolistic player like we have now.

If the community could come together and do this ASIC thing right, we could have a petahash going in no time and everyone could get a reasonable profit out of it.

Put it all on P2Pool and boom, mining is all set and we can all just focus on bitcoin adoption.

Good idea. Have a team of experts in each area required. Come up with some real design, produce and sell to those who invested time/efforts at its cost. Competition is always good, and this time Bitcoin just might be in short for that. If everyone in community is involved, then it might have enough funds.

[jjshabadoo]

There are plenty of people here already who know so much about this technology. I have been privately talking to a few which typically implies there are many more, probably A LOT more including lurkers.

We're starting to talk about a nearly 70 million dollar economy now. I know this is probably less than a day's overnight lending interest for a large banking institution, but it IS significant.

It is significant enough beyond the monetary value(hahahaha speaking like USD has value) that I believe the community should galvanize around what we believe to be a likely endgame for the mining piece of bitcoin.

Which is we all think about it, is simply the birth of this whole idea. Once all the coins have been born, then life really starts.

I just want to see a healthy baby be born.

[Raize]

At least some of us lurking really are lurking though.

[rjk]

At least some of us lurking really are lurking though.

Funny, I was just about to post here for an update.

[jjshabadoo]

Looks like this project isn't moving much right now, rather unfortunate.

Maybe I should do PR and customer service for hardware vendors who are developing bitcoin products...hahaha.

Hopefully this project gets an update soon.

[BR0KK]

We demand new information

[Tyger]

Any updates on this? its bin a while and BFL's asic launch is comming soon, i hope there will be some concurention.

[gusti]

Hello :

Sorry for the lack of fresh news lately. We are still trying to figure out a good partner for the ASIC's fabrication process.
We are currently negotiating what could be a good deal, both on NRE and per chip costs, with a China based company.
Anyway, until we have the exact quote from them, we cannot say much more.
In the meantime, Jason is finished with 95% of design and company is already setup in Hong Kong jurisdiction.

[Portnoy]

Thanks for the update.