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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914566 times)
velacreations
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August 20, 2013, 08:27:37 PM
 #11401

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

Yeah, I was thinking the same thing. I don't think friedcat has access to unlimited power and space.

power is the big obstacle, and it's the one thing I don't see the upcoming mining competition talking about.  I don't think people realize what it takes to get 10 TH/s online or 50 TH/s, and forget about 500 TH/s.  It's not like just plugging it in to the wall socket.

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August 20, 2013, 08:39:49 PM
 #11402

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

Yeah, I was thinking the same thing. I don't think friedcat has access to unlimited power and space.

power is the big obstacle, and it's the one thing I don't see the upcoming mining competition talking about.  I don't think people realize what it takes to get 10 TH/s online or 50 TH/s, and forget about 500 TH/s.  It's not like just plugging it in to the wall socket.

I always thought of power as a competitive advantage for AM. Presumably Friedcat and co. have a better idea for the infrastructure required to go to 500 TH/s based on their running a 50 TH/s operation for several months already.
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August 20, 2013, 08:41:25 PM
 #11403

I always thought of power as a competitive advantage for AM. Presumably Friedcat and co. have a better idea for the infrastructure required to go to 500 TH/s based on their running a 50 TH/s operation for several months already.


yeah, I was referring to the numerous new "competitors" out there that fail to include power delivery to their projected 500 TH/s mining operations.

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August 20, 2013, 08:49:09 PM
 #11404

power is the big obstacle, and it's the one thing I don't see the upcoming mining competition talking about.  I don't think people realize what it takes to get 10 TH/s online or 50 TH/s, and forget about 500 TH/s.  It's not like just plugging it in to the wall socket.

I remember back in June in the russian thread Bitfury used to make quite a big deal of his chips' power consumption.  He used to say that in coming month the power would become more and more important factor, until finally it becomes the most important limiting cost (instead of actual chip or PCB manufacturing costs).  He used to brag about his chips being so "green", and they turned out to be efficient indeed, although not as much as he predicted.  He was even talking about using ASICs to heat his greenhouse garden during winters in a few years, because they would barely pay for the electricity cost, and maybe not even that.

So at least some of that "upcoming mining competition" does take power consumption very seriously.

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August 20, 2013, 08:57:27 PM
 #11405

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

The 50TH/s has ALREADY been operating.  Unless Friedcat had them hooked up to a giant battery which just ran out of juice I find it hard to believe they suddenly lack the power they did for the last couple months and need 20TH/s of the 50TH/s worth of hardware to a third party has has power.  Now that explanation might make sense if the hashrate didn't rise ABOVE 50TH/s and instead Friedcat announced the next 50TH/s was rented out for some % of the net revenue but that isn't what is being discussed.

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August 20, 2013, 09:00:27 PM
 #11406

power is the big obstacle, and it's the one thing I don't see the upcoming mining competition talking about.  I don't think people realize what it takes to get 10 TH/s online or 50 TH/s, and forget about 500 TH/s.  It's not like just plugging it in to the wall socket.

I remember back in June in the russian thread Bitfury used to make quite a big deal of his chips' power consumption.  He used to say that in coming month the power would become more and more important factor, until finally it becomes the most important limiting cost (instead of actual chip or PCB manufacturing costs).  He used to brag about his chips being so "green", and they turned out to be efficient indeed, although not as much as he predicted.  He was even talking about using ASICs to heat his greenhouse garden during winters in a few years, because they would barely pay for the electricity cost, and maybe not even that.

So at least some of that "upcoming mining competition" does take power consumption very seriously.

yes, some groups talk about the efficiency of their chips, but not how they will power a 50 TH/s or 500 TH/s mining operations within a few months (or less). As we have already discussed in this thread, you can rent datacenter space, but it isn't cheap, and I wonder if anyone is including those costs in their plans (they are certainly not sharing the cost breakdown).

I think it is great that some of the smarter groups are looking into efficiency, but efficiency is only one piece of the puzzle.  You still have to have hundreds of kW of power available to your mining operation, if you plan to get it online at some point.

The focus of discussion for most of the IPOs tend to be chip design and/or chip arrival.  Getting the chips is a major step, but it's only the first step, and certainly not the most difficult (yet, most stumble at that stage)

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August 20, 2013, 09:03:09 PM
 #11407

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

The 50TH/s has ALREADY been operating.  Unless Friedcat had them hooked up to a giant battery which just ran out of juice I find it hard to believe they suddenly lack the power they did for the last couple months and need 20TH/s of the 50TH/s worth of hardware to a third party has has power.  Now that explanation might make sense if the hashrate didn't rise ABOVE 50TH/s and instead Friedcat announced the next 50TH/s was rented out for some % of the net revenue but that isn't what is being discussed.


+1  In fact, I have seen it at 60TH/s for a while.

I think it's the other way around.  I think another entity can't deploy 30TH/s because they can't get the power together.  FC has it up and ready, and says "I'll rent you mine".  Meanwhile, he's prepping the next 30 TH/s to go online for himself.

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August 20, 2013, 09:29:19 PM
 #11408

All these theories are useless, just ask for an explanation from friedcat.

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velacreations
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August 20, 2013, 09:35:57 PM
 #11409

All these theories are useless, just ask for an explanation from friedcat.
OMG!!!  why didn't any of us think of that?

 Roll Eyes

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August 20, 2013, 09:36:29 PM
 #11410

I think the drop of hashrate is due to some of it being used under unknown IPs and addresses. Should be confirmed tomorrow if mining incomes are clearly greater than that to be expected with 6%.

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
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August 20, 2013, 09:38:43 PM
 #11411

wow, there goes Mr "fill every buy order" again.  Roll Eyes

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August 20, 2013, 11:30:47 PM
 #11412

Total speculation here but I do recall FC mentioning that he was addressing the orphan block / no transaction fees issue. It may be that a portion of his hash is aimed at BTCguild or something. He has done so in the past and we might not see it until the coins move on divday.
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August 21, 2013, 04:31:09 AM
 #11413

The week according to ASICMiners: monday, tuesday, divday, thursday, friday, saturday, sunday
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August 21, 2013, 04:37:05 AM
 #11414


That reminds me..

I bought 50 USBs from Friedcat directly before I started ordering from WTCR.

Here is my e-mail, which he never replied to:

"I ordered 50 USB Miners from you back in June when they were 2BTC/each.

I would like to take advantage of the promotion of 0.1BTC/each for new ones, based on that order of 50."


No reply back..

feels like I'm getting some cat shit on me too..

The promotion was for previous orders at the 0.99/0.89 price point.  2BTC orders were not included.
I sent him several emails and PMs over the last month because I purchased 50 @ 0.99 price and was expecting updated pricing or 0.1 promo pricing and he has yet to respond to me.

I also had a 50 order and he sent me 15 a couple weeks ago at the 0.1 price point.  He said the other 35 should be available around the 1st.  He only seems to be responding to the new email address (asicminer.help@gmail.com).

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August 21, 2013, 04:54:35 AM
 #11415

Total speculation here but I do recall FC mentioning that he was addressing the orphan block / no transaction fees issue. It may be that a portion of his hash is aimed at BTCguild or something. He has done so in the past and we might not see it until the coins move on divday.
We'd see the userid on BTCGuild then.
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August 21, 2013, 05:14:36 AM
 #11416

What's the deal with the huge block of unknown mining that appeared around the time ASICMINER's marketshare dropped, any theories as to where it is coming from?

Bitfury (the developer) is running his own pool @ around 60TH right now.

Edit: Sorry, 68TH https://ghash.io/
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August 21, 2013, 05:31:41 AM
 #11417

where to buy a piece of bitfury
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August 21, 2013, 05:38:14 AM
 #11418

where to buy a piece of bitfury
https://picostocks.com/stocks/view/19
https://bitcointalk.org/index.php?topic=140366.0

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
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August 21, 2013, 08:15:07 AM
 #11419


This is not Bitfury, this is 100TH which is a project using hardware from Bitfury and that still hasn't delivered. Beware of what you buy.
This is not Bitfury pool. His pool is PRIVATE and you can't buy shares of this. 100TH mine is so far the only one that will use Bitfury chips, and is publicly avaible. Due to some troubles with manufacturing of PCB's, mine operates at 1/500 of capacity. In less than few weeks it should start operate at full capacity of 200TH.

Under development Modular UPGRADEABLE Miner (MUM). Looking for investors.
Changing one PCB with screwdriver and you have brand new miner in hand... Plug&Play, scalable from one module to thousands.
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August 21, 2013, 10:04:40 AM
 #11420

In less than few weeks it should start operate at full capacity of 200TH.

How many mines are 'a few weeks/months away from 100TH/200TH', must be loads now from reading the securities forums....?
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