Diablo Mining Company

[Dusty]

I'm not an hardware expert so I concede to you.

The potential of an ASIC should be far more appealing of FPGAs: an ASIC can run at multi-Ghz frequencies, while AFAIK FPGAs are not yet reaching the Ghz barrier.

Also, after the (indeed enormous) development phase you can have new chips at a ridiculous low price, while high-end FPGAs are very expensive even for large quantities.

Of course FPGAs have a *lot* more in addition to ASIC, like evolving the bitstream as it become possible, but I don't know if that can be so useful for this project.

Anyway, good luck with your project

[DiabloD3]

The poll ended 49 for, 64 against. However, most of the people who voted against this liked the plan but considered 1m impossible (although they gave no evidence to back this up).

So, another poll this time o see what the initial IPO should be: https://bitcointalk.org/index.php?topic=78919.0

[Garr255]

This looks like its going to be an awesome expedition. Will you, or your company rather, be in possession of the most BTC?

[BinaryMage]

This looks like its going to be an awesome expedition. Will you, or your company rather, be in possession of the most BTC?

You probably want to post on this thread instead.

[DiabloD3]

This looks like its going to be an awesome expedition. Will you, or your company rather, be in possession of the most BTC?

I would like to say yes, but in the end, its up to the investors.

[DiabloD3]

I just ran these numbers in another thread, this proves why I need to focus on green energy production:

Using the calculator at http://bitcoinx.com/profit/index.php using 1.5m diff, $5.00 BTC prices, $0.103 per KWH

BFL MiniRig is 25200 mhash @ 1250 watts for $15,295, 1.64 mh/$, 20.16 mh/w
Enterpoint Cairnsmore1 is 800 mhash @ 40 watts for $640, 1.25 mh/$, 20 mh/w
BFL single is 832 mhash @ 80 watts for $600, 1.38 mh/$, 10.40 mh/w
Lancelot is 500 mhash @ 25 watts for $500, 1 mh/$, 20 mh/w
BTCFPGA ModMiner is 800 mhash @ 40 watts for $1070, 0.74 mh/$, 20 mh/w
ZTEX 1.15y is 850 mhash @ 38 watts for $1359, 0.62 mh/$, 22.36 mh/w
FPGA Mining X6500 rev3 is 400 mhash @ 17.20 watts for $580, 0.68 mh/$, 23.25 mh/w
GPU mining is 2700 mhash @ 1050 watts @ $2600 for mobo, cpu, mem, psu, 4x 7970s, 1.03 mh/$, 2.57 mh/w

BFL MiniRig's peak profit is at 57 months at $22222.48, 145% return
Cairnsmore1 peak profit is at 57 months at $544.26, 84% return
BFL single's peak profit is at 47 months at $490.04, 82% return
Lancelot's peak profit is 57 months at $243.54, 48% return
Modminer's peak profit is at 57 months at $119.61, 11% return
X6500's peak profit is at 60 months at $25.78, 4% return
1.15y's peak profit is at 60 months at -$75.37, 5% loss
GPU mining's peak profit is at 24 months at -$917.51, 35% loss

[DiabloD3]

I updated the plan to use BFL instead of ZTEX. Much cheaper to get of the ground and reaches full profitability much faster.

[Garr255]

What about that ASIC company? I haven't heard much from them lately, but what I have read seemed promising.

[DiabloD3]

What about that ASIC company? I haven't heard much from them lately, but what I have read seemed promising.

If they don't have a product to sell, I can't buy it. I wish them luck, however.

[tgmarks]

I just ran these numbers in another thread, this proves why I need to focus on green energy production:

Using the calculator at http://bitcoinx.com/profit/index.php using $0.103 per KWH

BFL MiniRig is 25200 mhash @ 1250 watts for $15,295, 1.64 mh/$, 20.16 mh/w
BFL single is 832 mhash @ 80 watts for $600, 1.38 mh/$, 10.40 mh/w
Lancelot is 500 mhash @ 25 watts for $500, 1 mh/$, 20 mh/w
BTCFPGA ModMiner is 800 mhash @ 40 watts for $1070, 0.74 mh/$, 20 mh/w
ZTEX 1.15y is 850 mhash @ 38 watts for $1359, 0.62 mh/$, 22.36 mh/w
GPU mining is 2700 mhash @ 1050 watts @ $2600 for mobo, cpu, mem, psu, 4x 7970s, 1.03 mh/$, 2.57 mh/w

BFL MiniRig's peak profit is at 57 months at $22222.48, 145% return
BFL single's peak profit is at 47 months at $490.04, 82% return
Lancelot's peak profit is 57 months at $243.54, 48% return
Modminer's peak profit is at 57 months at $119.61, 11% return
1.15y's peak profit is at 60 months at -$75.37, 5% loss
GPU mining's peak profit is at 24 months at -$917.51, 35% loss

I appreciate seeing the work you have put in here.  Its like no one can seem to hold a candle to BFL.  I love the fact that more fpgas keep popping up and especially quad fpga systems, but still no one that can truly compete on a cost basis.

[DiabloD3]

I've started a channel on Freenode, #dmc

[DiabloD3]

Okay, I ended the IPO amount poll 10 hours early.

25k BTC    - 48 (35.8%)
50k BTC    - 23 (17.2%)
100k BTC    - 31 (23.1%)
250k BTC    - 11 (8.2%)
500k BTC    - 4 (3%)
1m BTC    - 17 (12.7%)

Average comes out to 203k. I guess 200k isn't so bad. The ride is going to be much rougher, though.

Diablo Mining Company: the $1m USD Bitcoin Startup.

[BinaryMage]

Okay, I ended the IPO amount poll 10 hours early.

25k BTC    - 48 (35.8%)
50k BTC    - 23 (17.2%)
100k BTC    - 31 (23.1%)
250k BTC    - 11 (8.2%)
500k BTC    - 4 (3%)
1m BTC    - 17 (12.7%)

Average comes out to 203k. I guess 200k isn't so bad. The ride is going to be much rougher, though.

Diablo Mining Company: the $1m USD Bitcoin Startup.

And the median 50k. Use whichever you wish, but note the difference. Means are not necessarily the most useful average.

[tgmarks]

Okay, I ended the IPO amount poll 10 hours early.

25k BTC    - 48 (35.8%)
50k BTC    - 23 (17.2%)
100k BTC    - 31 (23.1%)
250k BTC    - 11 (8.2%)
500k BTC    - 4 (3%)
1m BTC    - 17 (12.7%)

Average comes out to 203k. I guess 200k isn't so bad. The ride is going to be much rougher, though.

Diablo Mining Company: the $1m USD Bitcoin Startup.

And the median 50k. Use whichever you wish, but note the difference. Means are not necessarily the most useful average.

This is an important point. Had the options been more linear i would guess your answer would have been closer to this number.

[Garr255]

My only fear The largest of my fears for this company is an IPO.

[BinaryMage]

My only fear for this company is an IPO.

Your only fear? A lot of things can go wrong with a ~$1m (currently) Bitcoin mining startup, many of them much more catastrophic than an extended IPO.

[Garr255]

My only fear for this company is an IPO.

Your only fear? A lot of things can go wrong with a ~$1m (currently) Bitcoin mining startup, many of them much more catastrophic than an extended IPO.

I was thinking the same as I hit alt + s.

[DiabloD3]

The IPO has been submitted to GLBSE, but they now have a minimum wait time of 3 days.

[Gomeler]

I look forward to seeing how this progresses. Seeing how you are going to IPO for a little over 3x the sum of the 3 largest mining companies on GLBSE, it'll be interesting to see how the market absorbs this potential investment.

I'm curious, what is your plan while selling all 200,000 shares? I ask as 1 BFL Mini Rig + enough solar panels to run it is around $22k that that doesn't include the land needed for the panels and a roof over the Mini Rig's head. So, how will you be proceeding? Gradual rollout or wait for all 200,000 shares to sell?

[DiabloD3]

I look forward to seeing how this progresses. Seeing how you are going to IPO for a little over 3x the sum of the 3 largest mining companies on GLBSE, it'll be interesting to see how the market absorbs this potential investment.

I'm curious, what is your plan while selling all 200,000 shares? I ask as 1 BFL Mini Rig + enough solar panels to run it is around $22k that that doesn't include the land needed for the panels and a roof over the Mini Rig's head. So, how will you be proceeding? Gradual rollout or wait for all 200,000 shares to sell?

Probably not all 200k shares, but at least enough of them to do something with.