I'm starting Diablo Mining Company, but how much should the initial IPO be for?

[highlevelminer]

Okay the official Deathbylollipop irc channel has been created.

It is listed under the freednode server.

My screen name is n0n00dz4u.

Let me know when you guys want to talk bitcoin!

[1714186640]

1714186640

[DiabloD3]

And now back to our regular scheduled vote thread.

[DiabloD3]

I think I found a possible alternative to ZTEX quads here

http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50

Anyone try one yet?

[simon66]

I think I found a possible alternative to ZTEX quads here

http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50

Anyone try one yet?

That's too expensive. Why not try this one https://bitcointalk.org/index.php?topic=78239.0 almost half of what that one will cost you, and is still a quad board.

[rjk]

I think I found a possible alternative to ZTEX quads here

http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50

Anyone try one yet?

That's too expensive. Why not try this one https://bitcointalk.org/index.php?topic=78239.0 almost half of what that one will cost you, and is still a quad board.

Make sure you consider this when pricing those boards:

We are selling at the cost to manufacture price until we do the work of benchmarking it and check it working with the Bitcoin interface software. After we complete the benchmarking/software work the price will increase by 50% to cover our costs in doing this work and general support.

[DiabloD3]

I think I found a possible alternative to ZTEX quads here

http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50

Anyone try one yet?

That's too expensive. Why not try this one https://bitcointalk.org/index.php?topic=78239.0 almost half of what that one will cost you, and is still a quad board.

Around $1/mhash isn't expensive, thats the going rate for 45nm FPGAs. Trying to get cheaper than that usually ends with a product that won't last long. $640 for 800 mhash sounds rather impossible.

That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?

[rjk]

That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?

They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/
They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.

[DiabloD3]

That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?

They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/
They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.

Oh, he works for them? I wish people would indicate what company they work for, like in their sigs or something. Still, 4 Spartan 6s, ~800mhash for $640? That sounds very wrong.

[BinaryMage]

That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?

They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/
They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.

Oh, he works for them? I wish people would indicate what company they work for, like in their sigs or something. Still, 4 Spartan 6s, ~800mhash for $640? That sounds very wrong.

From the OP in that thread:

The price guaranteed until the end of June 2012 is GBP £400 / USD 640 / 520 Euros (plus tax and shipping). We are selling at the cost to manufacture price until we do the work of benchmarking it and check it working with the Bitcoin interface software. After we complete the benchmarking/software work the price will increase by 50% to cover our costs in doing this work and general support.

Sounds like they're selling the "beta" version at cost for now.

[DiabloD3]

That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?

They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/
They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.

Oh, he works for them? I wish people would indicate what company they work for, like in their sigs or something. Still, 4 Spartan 6s, ~800mhash for $640? That sounds very wrong.

From the OP in that thread:

The price guaranteed until the end of June 2012 is GBP £400 / USD 640 / 520 Euros (plus tax and shipping). We are selling at the cost to manufacture price until we do the work of benchmarking it and check it working with the Bitcoin interface software. After we complete the benchmarking/software work the price will increase by 50% to cover our costs in doing this work and general support.

Sounds like they're selling the "beta" version at cost for now.

More like alpha version. Does anyone even know of the Spartan 6 bitstreams even work on them? I looked through the thread, but it doesn't seem to mention anything.

[DiabloD3]

(Moved this post to https://bitcointalk.org/index.php?topic=77469.msg887606#msg887606 )

[DiabloD3]

I''ve just updated the plan to switch from ZTEX to BFL.

[rjk]

I''ve just updated the plan to switch from ZTEX to BFL.

Why put all your eggs in one basket?

[Sukrim]

If difficulty rises, it's nearly always better to have a lot of hashing power as fast as possible (--> GPU).  - Most important: USD per MH/s when buying
If it is stable or goes down, it's better to have the most efficient miners possible. - Most important: MH/s per Watt when running

There are also better GPUs for USD per MH/s than 7970s I think.

[DiabloD3]

I''ve just updated the plan to switch from ZTEX to BFL.

Why put all your eggs in one basket?

Don't get me wrong, I'm trying very much not to. But the price difference per mh is just so damned big that the other solutions just priced themselves out of the market. It irks me to single source parts to no end.

[DiabloD3]

If difficulty rises, it's nearly always better to have a lot of hashing power as fast as possible (--> GPU).  - Most important: USD per MH/s when buying
If it is stable or goes down, it's better to have the most efficient miners possible. - Most important: MH/s per Watt when running

There are also better GPUs for USD per MH/s than 7970s I think.

Well, thats the thing, GPUs are not merely the cost of the GPU itself, you now require a mobo+cpu+mem+psu(s) per 4-6 GPUs. Even that massive 18 slot rig that everyone is drooling over, that PCI-E backplane is expensive. You have to take in the WHOLE cost of assembly. With FPGAs, all I do is plug the power in and plug the USB in, the entire farm can be ran off of one box running bitcoind.

Due to this fact of the additional cost of hardware each individual slot is very expensive... which means you're stuck putting as much mh into a slot as possible, which means throwing in 7970s (but not 7990s due to the "dual gpu cards always suck for overclocking" rule).

And all the currently shipping products? They're all basically equiv in mh/w (except for bfl singles that use twice as much power per mh for no good reason).

[DiabloD3]

Could somebody please explain to me why an investor would want to pay towards property, tax, security, insurance, staff (what, this is a one man operation?) When you can just invest in multiple smaller (yet still quite large) operations and not deal with any of this?

The assumption that the price of BTC will double when difficulty goes up is also quite ridiculous. It's not like the exchanges are always low on stock or that they only have coin that was freshly mined that day.

I can only see this being attractive if you have more BTC than can be invested in all other miners on GLBSE combined, in which case your name is probably pirateat40.

Taxes will be paid no matter what. If these existing mining operations are not paying for taxes, well, I'd hate to be them when the IRS comes. Same goes with insurance, you _require_ it, period, end of story.

The one thing I'm offering that the other mining operations are not offering is large scale power generation to offset operating cost and provide a secondary revenue stream.

I imagine that most of these mining operations will be out of businesses in less than 4 years, while mine will still be here.

[DiabloD3]

Okay, so, I ended the poll about 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.

[DiabloD3]

Alright, everyone back to the main thread: https://bitcointalk.org/index.php?topic=77469.0

Thread locked.