We're scared
full custom ASIC is great!!!!! You would invest probably more than whole BTC worth then if you would go with say 45-nm!!!! You are serious player
I think this is the time, when security of SHA256 for block-chain generation should be ....
IMPROVED But let's go step by step
First deliver mini-rigs with nice performance and cost, then ASIC, then do buy-in, and then everything would be secure, under NDA of course
Or
? Will you start again taking money for future product with "variable" performance ?
Let me first say that I deeply respect the work you've done. I really mean that. It's spectacular and we're deeply impressed. So believe me when I say that we take no pleasure in undermining your plans.
You have not undermined them, as mining only small part of plan and reason is to get secure p2p currency. I assume you agree that mining is CORE security of BitCoin and BitCoin-like networks. Also mining-related business is nice way to make public contact and show that you actually have something. Possibly you could even help us, if you get this ASIC right way, it depends on you however, but your business conduct shows to me that you are more in rush for money, and pretty scared to be behind marketing-wise, that's why you put that pre-order stuff all the way etc. That's correct choice generally, but if your claims are well-backed and you really worked hard to met what you put in your ads... When not met, like your first tryout with BFL single - it damages reputation then, so many people would think that you'll do ponzi games with this buy-in offer... However ponzi schemes are even more profitable than bitcoins
)) MMM-2011 proves that - about 30 billions in one year ....
)))
It depends on how you will do then with that ASIC. Because what you'll end up - invested a lot of money into tech and getting chips at low cost, but you still has to return your NRE costs, and still you could benefit 51% attack for you and/or your private investors under NDA, while selling to public buyers with NRE costs included. As hashing power is basically untraceable it would be very hard to know actually what happens and that impose a security risk.
Currently it is just $5 Mio to make 51% + risks that I can buy hash power say paying 200% PPS directly for attack. Then it will be $XX Mio to make 51% + risk of massive hash power buy + your company having ASIC NDA that can make chip for pennies, but still has return NRE costs and selling it at "market" price par-to-par with FPGA prices that board vendors could get :-) But for being safe, truly - either algorithm should be changed, but not the way like Scrypt, OR ASIC should be widely available and with current way fabs work we smash into the WALL :-)
Ahh. I forgot also about another security risk -
http://www.dwavesys.com/en/dw_homepage.html ... Commercial, not military indeed :-) But this CAN BE MITIGATED :-) Although different crypto-system should be deployed.... With FPGAs - we can reprogram them, while with ASICs... hmmm...
Then what ? We need p2p currency for a project that abandoned but still actual long time ago.... This is the thing that Satoshi invented but we couldn't... We were not that smart, skillful and lucky... Bad that there's no contact with him... But maybe, when real wars with Goliath begins he reappear, there's not much skillful people :-)
What we do then in need of p2p currency but high security risks, how you think ? ;-)
As you know, you've only announced yourself within the last week or so while we've been working on our full product range in public view for 10 months. The SC product plan and it's timing has been illustrated on our product lineup page that full time.
Yes, but you have put 20 W / 1 Gh/s unit when started taking pre-orders and then it was 80 W / 800 Mh/s unit. That's significant difference. That's not we did... We haven't took a penny from anyone here :-)
Same could happen with buy-back offer.... And with long-term usage of your devices etc...
We started out under attack from similar comments like yours above... we've seen it all before. I think your first post was met with similar sarcasm. That's just how it is. You've got to take your lumps in the public forum. Even the good Ngzhang once publicly accused us of being a scam product. In sum, we've seen all this before and we're past it. We've since shipped a quantity of product into the field that would surprise most people. So if you want to cast doubt, go right ahead. Honestly, we expect nothing less.
Well. It is just about claim - not structured asic, but full custom asic, etc etc :-)
I would hope that at some point the hostility becomes unnecessary.
That hostility is the result of your business behavior. Already mentioned several times in this message.
Why would we start own device and not just contact you and ask for one of yours ? We've thought first, but
when looked on small-sized item with 20W without cooling and PREORDER button we thought that it's pure SCAM
and one who drawn that didn't know that it would be extremely hot... Why would we expect anything DIFFERENT then ?
Now we're inside and probe exactly how things are with mining, etc... As it is difficult to analyze true security of network other way and give correct predictions.
Best regards,
BFL
Kind regards,
BitFury Group
