[CRYPTOSTOCKS] (GMP) crowdmining

[Icoin]

What do you think about this?
Especially as regards the European market, with electricity costs between $ 0.10-0.30/kwh

strictly speaking on power being the only variable I wouldn't even suggest to "mine-for-profit" basis with power rates higher than $0.10 ( and you are unable to get write offs or reductions. )

The real factor in the transition period of ASIC units will ultimately be delivery time, when difficulty is lower and the ROI is much higher.

Let's take this conservative example. using http://bitcoinx.com/profit/index.php

6 times the current difficulty
$.25 power cost.
400W
60GH/s

your break even time is 81 days, thats little over 2 month, of course assuming you can only maintain this ROI rate for 12 days or so, you would have effectively made 15% of your invest back.

with the current trend of everybody pushing their shipping date back I feel everybody has over estimated how quickly the difficulty will rise.

Let's assume Tom sold 1000 units, that's give or take 50TH/s,
Avalon only selling 300 units first batch, ~20TH.
BFL sells a crazy estimate of 2000 units, 120TH.

that barely adds up to 200THash, which is about 10 times the current network rate, and if difficulty goes up by a factor of ten using the same formula above. your ROI is 156 days.

honestly, it isn't that bad.

disclaimer: Avalon nor Yifu will be responsible for information provided here based an educated guess of future Bitcoin mining difficulty.

I marked the for GMP essential points, actualy we are in for Batch2 of the Avalon Devices.
5 Lancelot Boards are ready for the tradein (Lancelot for Avalon Exchange)
GMP Buyback program completed!

It would be great when we could add 10 Avalon instead of 5 to the GMP Project with Batch2

[Icoin]

avalon-asics.com:    
    Batch Status: Not Open
    Unit Price: $1,499
    Batch Size: 500 Units

    Duration: To be announced
    Payment Processor: WalletBit
    Shipping Time: March 1st, 2013

We have a 400 dollar price off so the calculation for the LANCELOT TRADE-IN is 5 x 1099 USD

BitSyncom:
Let's put it this way, room temp is 25C, on MAX LOAD for 40 hours in a room-size machine made for "burn-in" testing, we are looking at 48.xC top tempature, we actually removed 2 fans from the case lol.

GMP Avalon Asic crowdmining

[Icoin]

Yifu Guo Interview

[Icoin]

[Icoin]

Things start to take shape. We just was contacted by Team AVALON and they provided us this :

The Storm has Come

For those you have not heard on the forums, reddit and other news sources. The world's first ASIC technology enabled bitcoin mining hardware has shipped.

Second Batch

Second batch's order time have been announced. here.

[Icoin]

First Avalon ASIC delivered:

[01:50] <jgarzik> mining!
[01:50] <jgarzik> [MHS av] => 68252.65
[01:50] <TuxBlackEdo> no wai
[01:50] <goodbtc> OLE!!!
[01:50] <qwertyoruiop> does asic mining mean i can use a pair of shoes to mine bitcoins?
[01:50] <happy> ZOMG!

http://garzikrants.blogspot.ch/2013/01/once-upon-time-in-china-package-shipped.html

[Icoin]

Reply was 'STATUS=S,When=1359591255,Code=11,Msg=Summary,Description=cgminer 2.10.4|SUMMARY,Elapsed=1683,MHS av=67537.13,Found Blocks=0,Getworks=60,Accepted=26365,Rejected=61,Hardware Errors=18,Utility=939.84,Discarded=113,Stale=0,Get Failures=0,Local Work=27502,Remote Failures=1,Network Blocks=3,Total MH=113676072.2419,Work Utility=942.80,Difficulty Accepted=26365.00000000,Difficulty Rejected=61.00000000,Difficulty Stale=0.00000000,Best Share=244725|'
[STATUS] =>
(
   [STATUS] => S
   [When] => 1359591255
  

Code:

 => 11
   [Msg] => Summary
   [Description] => cgminer 2.10.4[/quote]

http://pastebin.com/g4BhvCXK

[usagi]

Shares of GMP jumped 100% on this announcement. Nice

[Icoin]

Shares of GMP jumped 100% on this announcement. Nice Smiley

Not sure what you understand by 100% but right, the price rose.
0.4 BTC shares were sold out yesterday , now 0.5 BTC shares are avalable.

[usagi]

Shares of GMP jumped 100% on this announcement. Nice Smiley

Not sure what you understand by 100% but right, the price rose.
0.4 BTC shares were sold out yesterday , now 0.5 BTC shares are avalable.

bid was .30 yesterday wasn't it? I thought 0.60 shares were being sold, my bad. Still, 50%+ is nothing to shake a stick at. I don't think the majority of investors are aware of this news yet.

[Deprived]

Shares of GMP jumped 100% on this announcement. Nice Smiley

Not sure what you understand by 100% but right, the price rose.
0.4 BTC shares were sold out yesterday , now 0.5 BTC shares are avalable.

bid was .30 yesterday wasn't it? I thought 0.60 shares were being sold, my bad. Still, 50%+ is nothing to shake a stick at. I don't think the majority of investors are aware of this news yet.

Highest id was at .35 or so yesterday, but all trades for the last week or so have been off the ask wall at .4.  That got cleared last night and the .5 ask wall started on - so the rise was 25% and was just a case of moving from one tier to the next of sales.

[usagi]

Shares of GMP jumped 100% on this announcement. Nice Smiley

Not sure what you understand by 100% but right, the price rose.
0.4 BTC shares were sold out yesterday , now 0.5 BTC shares are avalable.

bid was .30 yesterday wasn't it? I thought 0.60 shares were being sold, my bad. Still, 50%+ is nothing to shake a stick at. I don't think the majority of investors are aware of this news yet.

Highest id was at .35 or so yesterday, but all trades for the last week or so have been off the ask wall at .4.  That got cleared last night and the .5 ask wall started on - so the rise was 25% and was just a case of moving from one tier to the next of sales.

*Scratches head* this is why I hired an accountant.

[Icoin]

Shares of GMP jumped 100% on this announcement. Nice Smiley

Not sure what you understand by 100% but right, the price rose.
0.4 BTC shares were sold out yesterday , now 0.5 BTC shares are avalable.

bid was .30 yesterday wasn't it? I thought 0.60 shares were being sold, my bad. Still, 50%+ is nothing to shake a stick at. I don't think the majority of investors are aware of this news yet.

Highest id was at .35 or so yesterday, but all trades for the last week or so have been off the ask wall at .4.  That got cleared last night and the .5 ask wall started on - so the rise was 25% and was just a case of moving from one tier to the next of sales.

*Scratches head* this is why I hired an accountant.

0.3 Shares was sold out some weeks ago, basicaly as AVALON anounced the first time. By then only 0.4 shares was avalable till yesterday. As there where sold out too, since the proove of Jeff Garzik, we reached 0.5.
There are still 370 0.5 shares left by now.

Feel free to have a look in the trading history: https://cryptostocks.com/securities/9#trading

With the rised USD exchangerate today, GMP has the funds for the trade-in ready.

[usagi]

With the rised USD exchangerate today, GMP has the funds for the trade-in ready.

Cool. I have some shares.

I'm also intrigued by the options trading system on Crypto::Stocks. I've placed a variety of calls for sale on GMP with a strike price of 0.6, ranging in price from .1 to .6. But I don't see any other options. Do people just not trade options there?

[Deprived]

With the rised USD exchangerate today, GMP has the funds for the trade-in ready.

Cool. I have some shares.

I'm also intrigued by the options trading system on Crypto::Stocks. I've placed a variety of calls for sale on GMP with a strike price of 0.6, ranging in price from .1 to .6. But I don't see any other options. Do people just not trade options there?

The only other options I ever saw there were some puts and calls on the ponzi JDBIF (that's the one that promises 20% per month, hasn't paid that since October but still trades) and there was one option up on IBB for a little while.

[Icoin]

Trade-ins are independent of the 600 units in batch #2, they also have a higher priority.
Module slots have been reverted back to 4 with a possibility to be changed to 6. this is to ensure the proper delivery time of batch two.

Our goal is to get 5 AVALON equipped with 6 Modules what will be working for GMP.
When everything works as planed this means av. 600 gh/s.

[Icoin]

<600watts@220v


wonderful

Fuel Cell PSU price and delivery conditions requested: http://www.fuelcellmarkets.com/3,1,28266,18,28377.html



Most plausible power backup solution:

Smart-UPS 19" 5000 VA 4000 W 5HE

[Icoin]

Our goal is to get 5 AVALON equipped with 6 Modules what will be working for GMP.
When everything works as planed this means av. 600 gh/s.

We aproach the goal of 5 Avalon equiped with 6 modules financialy as it seems in time. Do to the delayed trade-in and the rise of the Bitcoin/USD exchangerate we gained
Calculated without customs and shipping cost by now, we are able to trade-in 5 Avalon devices, and add 9 modules.
So its not mutch room left for the asic modules! We can soon start to focus on energy backup.
You guys are awesome!
Thank you for the support.
http://www.youtube.com/watch?v=M1APFyc_QtQ

[Icoin]

ASIC (5 in process):
comming soon!

Cabinet (1):
http://www.rittal.de/downloads/PrintMedia/PM5/en/TE_7000_GB_03_2004.pdf



UPS (2):
http://distrelec.ch/ishop/Datasheets/SMX3000RMHV2U_ger_datasheet.pdf



By now we are able to backup one AVALON with the present UPS.

1 APC Smart-UPS 3000VA
1 OptiUPS 1500

1 HP ProCurve Switch 2124 J4868A
http://www.moonblinkwifi.com/files/ProCurve_Switch_2124.pdf

[Icoin]

Including electricity costs, the Avalon ASIC #bitcoin miner has now paid for itself.

https://twitter.com/jgarzik/status/300138033590718464