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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914566 times)
DeathAndTaxes
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August 08, 2013, 03:48:52 PM
 #10901

It is rare that an investment opportunity arrives where one can completely dominate an exponentially growing market. Microsoft, Apple, Google, Amazon... the list goes on. Will Avalon or ASICminer be on that list next year? It all depends on who can attract the deepest pockets. $200 million is chump change for a shot at being on that list. If you believe bitcoin will succeed, you know it is inevitable that someone will be on that list.

No because there is no barrier to entry.   Intel could join the Bitcoin mining space 5 years "too late" and dominate it overnight as a small project which barely is a footnote in their R&D budget.  Now as an ASICMiner shareholder this doesn't concern me one bit, because by the time Bitcoin mining hardware is large enough for any major company to notice ASICMiner will either have already made a massive return or it will have failed.

Also Bitcoin mining isn't exponentially growing.  It only appear that way because we are at a technological revolution.  In 3 years time you know how you will make more profit running a professional mining operation.   Drop $20M into 18nm tech?  No that would be stupid.   Move somewhere where power is cheaper.  Dropping your power costs from $0.10 per kWh to $0.05 per kWh would allow your "old" 28nm tech seem new again deliver a higher ROI% then trying to beat someone else to newer tech.   At this point chip prices are far more elastic then electrical power costs.  Bitcoin mining is a commodity business and mining hardware is only marginally so because of the scale of the investment needed relative to the scale of the investment done before.  Compared to someone throwing together a GPU rig, a $1M NRE seems impossible but as we are seeing first hand ... it isn't.
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August 08, 2013, 03:52:00 PM
 #10902

In five years mining will be even less profitable than it is now. If the major
money to be made in the future is in transaction fees, then the short term
should be mining hardware and the next level (and more investment) would
be infrastructure (exchange platforms, payment systems, transferring
software/hardware, etc.)

Or is it that the size of the mining operation will also correlate with tx fees in the future?
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August 08, 2013, 03:59:49 PM
 #10903

In five years mining will be even less profitable than it is now. If the major
money to be made in the future is in transaction fees, then the short term
should be mining hardware and the next level (and more investment) would
be infrastructure (exchange platforms, payment systems, transferring
software/hardware, etc.)

Or is it that the size of the mining operation will also correlate with tx fees in the future?

It all really plays together or nothing ends up being profitable in the end.

Either bitcoin succeeds, becomes more widely respected and held, is used in more transactions, generates more mining fees and rises in value OR it stagnates and so does every business and investment associated with it.

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August 08, 2013, 04:17:57 PM
 #10904

It's just supply and demand.
A bunch of new supply transferred into the passthrough.
A load of btc sucked out of the market by ipos.

Really, nothing more than that.
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August 08, 2013, 04:20:26 PM
 #10905

Looks like we got a better node?  http://blockchain.info/block-index/404381/0000000000000055ae447a961be1166778d794227f65b911cac51cf562ea9ae9

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August 08, 2013, 04:28:27 PM
 #10906

Reminder:

https://docs.google.com/forms/d/15Ws1XzJeynK_vsKiQ9NaufQfLZOSKsRfsSgqMLTdIRs/edit

You can still vote -- questions will be compiled and submitted in a few more days.
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August 08, 2013, 05:44:33 PM
 #10907

From the Labcoin Forum:

Quote
[12:02] <dexX7> labcoin seems almost small now in the light of new competitors like btcgarden, hashfast, actm, terrahash.. do you think you can keep up?
[12:02] <+labcoin_dev> btcgarden?
[12:02] <+labcoin_dev> well, guys, i would do a reality check before saying such things
[12:03] <dexX7> please elaborate, i'm curious
[12:03] <+labcoin_dev> undoubtedly ASICMINER, AVALON and maybe BFL have some kind of advantage

Cute Smiley
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August 08, 2013, 06:57:43 PM
 #10908

[12:03] <+labcoin_dev> undoubtedly ASICMINER, AVALON and maybe BFL have some kind of advantage

AM is about to steal Labcoin's lunch money...

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August 08, 2013, 07:21:59 PM
 #10909


awesome. thanks for watching and public update, aahzmundus

Quote
Number Of Transactions698
Output Total2,588.67971735 BTC
Estimated Transaction Volume1,367.87214522 BTC
Transaction Fees0.31125621 BTC
Height250946 (Main Chain)
Timestamp2013-08-08 16:20:34
Received Time2013-08-08 16:20:52
Relayed ByASICMiner
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August 08, 2013, 07:28:02 PM
 #10910

Looks like connectivity was improved after the last orphaned block about 27 hours ago...
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August 08, 2013, 11:18:35 PM
 #10911

Does anyone have a running log showing ASICMINER orphans so we can see if the # decreases given the possibly improved network connectivity?

"The difference between a castle and a prison is only a question of who holds the keys."
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August 09, 2013, 02:07:13 AM
 #10912

AM is plummeting more. If this continues, it might get to the point when it's reasonable to buy again.
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August 09, 2013, 02:21:45 AM
 #10913

[12:03] <+labcoin_dev> undoubtedly ASICMINER, AVALON and maybe BFL have some kind of advantage

AM is about to steal Labcoin's lunch money...


Hahaha....we bitch at Friedcat to "make a statement"....at this point he doesn't need to.

Every other security doesn't know when to shut their mouths.

Deprived lost his mind last night, now a Labcoin developer sticking his foot in his mouth with that statement...who's next?
Maybe some more of these pissant IPO's can run their mouths too....now this is entertainment!

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August 09, 2013, 02:30:53 AM
 #10914

Here, have the full quote for posterity.

Quote
11. Labcoin seems almost small now in the light of new competitors like btcgarden, hashfast, actm, terrahash.. do you think you can keep up?
btcgarden? Well, guys, i would do a reality check before saying such things. Undoubtedly ASICMINER, AVALON and maybe BFL have some kind of advantage. But we don't see how we are inferior to those vaporware companies. What in their announcement makes them more convincing than us? time will tell and the sheer of technical details we have provided is not trivial. it's very unlikely we are making everything up
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August 09, 2013, 02:48:50 AM
 #10915

This just in....however unlikely it may seem....Labcoin may be making everything up.     Shocked
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August 09, 2013, 04:00:31 AM
 #10916

Avalon's Update: http://www.avalon-asics.com

Gen 3 AND 4 huh?

It's going to be an interesting fall.
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August 09, 2013, 06:12:10 AM
 #10917

Avalon's Update: http://www.avalon-asics.com

Gen 3 AND 4 huh?

It's going to be an interesting fall.

Without a doubt
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August 09, 2013, 06:31:12 AM
 #10918

Avalon's Update: http://www.avalon-asics.com

Gen 3 AND 4 huh?

It's going to be an interesting fall.

Ha!

I first read that as "It's going to be an interesting fail"




Bitcoin network and pool analysis 12QxPHEuxDrs7mCyGSx1iVSozTwtquDB3r
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August 09, 2013, 06:43:36 AM
 #10919

Or you could just realize the fall and that they didn't choose autumn.

e: seriously though, wut? I anticipated the pre-order policy, but the subtle threats on the teams lives...?
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August 09, 2013, 07:35:32 AM
 #10920

IT'S ON!

Store Updates:
This weekend (possibly as early as Friday night), you will be able to place orders for ASICMINER Blades.  Exact pricing is not yet finalized.  Inventory is not in stock, but will be ordered from ASICMINER Sunday evening (earliest date available) and shipped out within 24 hours of arriving.

USB Block Erupters will also be back in stock at ASICMINER Sunday evening.  Expecting the full shipping queue to be completely filled within 48 hours of new inventory arriving.

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