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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3916384 times)
gog1
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July 26, 2013, 02:20:52 AM
 #10461

actually just did some math, Core i7 3930k does 66.6 MH/s; a speed up by 50x would be 3.3 GH

I can imagine people using their machines at work to mine or mine at the library.
dhenson
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July 26, 2013, 02:35:22 AM
 #10462

actually just did some math, Core i7 3930k does 66.6 MH/s; a speed up by 50x would be 3.3 GH

I can imagine people using their machines at work to mine or mine at the library.

The biggest benefactor of the new instruction set will be the bot nets.
Strange Vlad
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July 26, 2013, 06:56:33 AM
 #10463

Two important questions about these Intel extensions:
1) When will the CPUs supporting them become available to buy?
2) What will be the hashrate? The hashrate per dollar cost of CPU?

LOL certainly I don't believe in 33GH per CPU. It would require hashing 10 cores per CPU at 3.3 GHz even if the calculation takes only 1 tick (which it certainly won't, 3-5 ticks is more realistic), and there's no reason to have as much as 10 cores for any non-mining purposes.
EDIT: disregard that, I didn't notice the point in 3.3

Do not try and bend the spoon. That's impossible. Instead... only try to realize the truth. There is no spoon. Then you'll see, that it is not the spoon that bends, it is only yourself.
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mem
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July 26, 2013, 07:16:38 AM
 #10464

actually just did some math, Core i7 3930k does 66.6 MH/s; a speed up by 50x would be 3.3 GH

I can imagine people using their machines at work to mine or mine at the library.

The biggest benefactor of the new instruction set will be the bot nets.

sad but true.

joris
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July 26, 2013, 09:34:35 AM
 #10465

ASICMiner products probably exceed 30% of the hashrate share already. But you have to realize this:

ASICMiner valuation = (ASICMiner hashrate share + ASICMiner customer hashrate share) * mining share of bitcoin valuation * bitcoin valuation

I highly doubt all mining makes up 30% of Bitcoin's industry, let alone a part of mining.

I highly doubt money supply = GDP.

They have different units, so I fail to see how they can even be compared.

What I'm comparing is money supply to stock supply. If ASICMiner is valued at greater than all BTC combined is valued, then it follows that ASICMiner must have revenues separate from Bitcoin. This is not true, so ASICMiner stock will be capped.

Perceived value can't be capped. One share can change hands for price X, ten shares for price Y and all shares for price Z. X probably ain't Z.

The valuation formula doesn't make sense to me. "Bitcoin valuation" seems strange for "ASICMiner valuation", in BTC at least. It's should be only about cashflow. Let's say 33% of hashrate ~ 1200 BTC per day + BTC from hardware sales (at any price) is the cash coming in. After cash expenses, the net cash flow is worth something to retain or acquire, the price of which to be determined by the irrational brains of current and future shareholders. No absolute reasons in there to "have revenues separate from Bitcoin".

How to pay? With debt, gold, property or whatever. No restriction to the amount of BTC in the economy.

Of course not only cashflow influences the perceived value, but also their current control of the mining sector. They seem to be able to choose between selling their hardware or using it themselves. If f.e. 100th comes online, it wouldn't surprise me if ASICMINER turns on 45 TH overnight to keep up their share. While if hashrate from other sources grows to slow, ASICMINER goes helicopter Ben with well-priced hardware.

Cashflow in from mining is more or less constant, cash out for mining increases with difficulty, while hardware will be the other way around. Less cash in with constant costsfor manufacturing. It will take a while, but the extreme profitability of ASICMINER will come to an end when margins become 'normal'. But I don't dare to say anything about the share price that the market will see fit for these stages.

;-)
CMMPro
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July 26, 2013, 11:40:27 AM
 #10466

I wonder if the Intel CPU SHA extensions will have any effect on ASIC mining ?

On chip SHA2 extensions in the Intel CPU : http://software.intel.com/en-us/articles/intel-sha-extensions

Could be big news

Could be. It's not clear from the whitepaper what specific architecture changes Intel are making to accommodate these instructions (i.e., it might be just a single hashing core).

Having said that I cannot believe that there aren't a few skunkworks ASIC chip designs floating around in Intel at the moment, given the number of chip designers they have.

How much did AES-NI speeds things up?  I suppose we maybe looking at similar factor.  Even with a speed up of 25-50x, CPU is still no match to ASIC.

Yeah, I don't think we need to panic just yet. It's more likely to be used as a speedup for things like SSL which have to be decrypted in the CPU at the moment. Given that Intel is a conservative company with long lead times, it could be 12 months before you can even get your hands on hardware with these instructions, and even then it wouldn't be much chop as a miner. But it's still pretty cool.




Exactly...not sure why people are even wasting brain cycles thinking about this.

Intel isn't interested in developing a mining chip or even to do more than a few hashes per second. It would be entirely dedicated to security applications for web commerce, website security etc.


ElideN
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July 26, 2013, 01:23:57 PM
 #10467

how can i be a part of those shares?

If you need help with anything, please let me know. I'd be happy to assist.
binaryFate
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July 26, 2013, 01:34:23 PM
 #10468

how can i be a part of those shares?

You can buy direct shares from time to time, on auctions on this forum.

But the easiest is to buy shares on exchanges:
https://btct.co/security/ASICMINER-PT
There are two others exchanges too, you can google "havelock investment" and "bitfunder". Price on average is roughly similar everywhere.


Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
candoo
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July 26, 2013, 01:36:36 PM
 #10469

how can i be a part of those shares?

just buy some fuckin shares

Einer trage des andern Last, so werdet ihr das Gesetz Christi erfüllen.
ThickAsThieves
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July 26, 2013, 01:37:05 PM
 #10470

how can i be a part of those shares?

You can buy direct shares from time to time, on auctions on this forum.

But the easiest is to buy shares on exchanges:
https://btct.co/security/ASICMINER-PT
There are two others exchanges too, you can google "havelock investment" and "bitfunder". Price on average is roughly similar everywhere.



The other links are:

https://www.havelockinvestments.com/order.php?symbol=AM1
https://www.havelockinvestments.com/order.php?symbol=AM100

https://bitfunder.com/asset/G.ASICMINER-PT
https://bitfunder.com/asset/TAT.ASICMINER

https://btct.co/security/TAT.ASICMINER
VeeMiner
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July 26, 2013, 01:58:59 PM
 #10471

how can i be a part of those shares?

just buy some fuckin shares

+9000 internets to you, you sir are a scholar and a gentleman
CoinHoarder
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In Cryptocoins I Trust


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July 26, 2013, 02:44:00 PM
 #10472

I received tracking info for all my Batch 3 orders this morning.

At least 48Th is coming online from Avalon Batch 3 in the next 7-14 days. (48Th not counting 4 module versions.)

This will add at least a %20 increase to the current difficulty. Add in 4 module versions and BFL, a possible network increase of %35 in the next 7-14 days. (this is a guess)
rudrigorc2
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July 26, 2013, 05:47:23 PM
 #10473

I received tracking info for all my Batch 3 orders this morning.

At least 48Th is coming online from Avalon Batch 3 in the next 7-14 days. (48Th not counting 4 module versions.)

This will add at least a %20 increase to the current difficulty. Add in 4 module versions and BFL, a possible network increase of %35 in the next 7-14 days. (this is a guess)


err.. that 20% diff increase just happened, now they must be turning them off and shipping. I say well see less than 10% increase next adjustment
dree12
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July 26, 2013, 05:49:54 PM
 #10474

I received tracking info for all my Batch 3 orders this morning.

At least 48Th is coming online from Avalon Batch 3 in the next 7-14 days. (48Th not counting 4 module versions.)

This will add at least a %20 increase to the current difficulty. Add in 4 module versions and BFL, a possible network increase of %35 in the next 7-14 days. (this is a guess)


err.. that 20% diff increase just happened, now they must be turning them off and shipping. I say well see less than 10% increase next adjustment

I don't think they mine with the chips; I believe they're incompetent rather than malicious. Consequently, they'll be another 20% diff increase. This pattern will continue for a few months.
astutiumRob
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July 26, 2013, 06:16:19 PM
 #10475

actually just did some math, Core i7 3930k does 66.6 MH/s;
You can get ~80MH/s out of an Intel iN series CPU - I've got an old one sitting in a DC which is averaging 78MH/s, uptime is several months, and it was just sitting there waiting for us to scrap  ...

www.astutium.com - domains | hosting | vps | servers | cloud - proud to accept bitcoins. UK colocation for BFL and KNC ASICs in Tier3+ DC
Register Domains with BTC
Want to make some bitcoins ? Miner on ebay | Buy GH/s
canth
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July 26, 2013, 06:33:34 PM
 #10476

actually just did some math, Core i7 3930k does 66.6 MH/s;
You can get ~80MH/s out of an Intel iN series CPU - I've got an old one sitting in a DC which is averaging 78MH/s, uptime is several months, and it was just sitting there waiting for us to scrap  ...

Generating 1 satoshi at a time. Wink Now you just need to invent cryosleep and wait for about a decade or so - you'll wake up a bitcoinaire.

kokojie
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July 26, 2013, 06:55:40 PM
 #10477

haha, I love the picture in this listing of AM product:

http://item.taobao.com/item.htm?spm=2013.1.w4018-2539601020.3.0PwXb8&scm=1007.168.0.0&id=19288654424&ad_id=&am_id=&cm_id=&pm_id=

btc: 15sFnThw58hiGHYXyUAasgfauifTEB1ZF6
TsuyokuNaritai
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July 26, 2013, 07:13:41 PM
 #10478

I've seen lots of posts and comments raising fears about AM's potential domination of the network, but no comments outside the AM threads about the new franchise plans, which at least partly address those fears. So I started this. Hope I don't end up regretting it...

binaryFate
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July 26, 2013, 07:46:04 PM
 #10479

I've seen lots of posts and comments raising fears about AM's potential domination of the network, but no comments outside the AM threads about the new franchise plans, which at least partly address those fears. So I started this. Hope I don't end up regretting it...

Great idea, thanks for doing this!

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
freedomno1
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July 26, 2013, 08:29:03 PM
 #10480

I've seen lots of posts and comments raising fears about AM's potential domination of the network, but no comments outside the AM threads about the new franchise plans, which at least partly address those fears. So I started this. Hope I don't end up regretting it...

Well true the AM threads been all over it time to send it off to the bitcoin forum wilderness

Believing in Bitcoins and it's ability to change the world
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