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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3862951 times)
2weiX
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February 13, 2013, 01:55:29 PM
 #1501

reduce variance. for a publicly owned miner, this is the only way to go.

I think it's the opposite, it is the only way to go for the individual miner. Being publicly owned has nothing to do with it.

If you have a high enough hashrate (more than a few percent of the network) and have to produce dividends in a long enough period (e.g. weekly), that already reduces variance. Why reduce efficiency, introduce an intermediary and increase vulnerability? Makes no sense.


using a pool with 0 fees that distributes trxfees amongst his miners is +ev, no?
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kibblesnbits
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February 13, 2013, 01:57:17 PM
 #1502

Call me crazy... but if I ran a mining/hardware company with shareholders I would let them know when the 1st ASIC came online, and then again when surpassing the 1 TH/s mark.... tell the shareholders where they can see speed and earnings.....and not wait till the next weekly update.....  Huh

I'm pretty sure Friedcat would do the same...

I don't think it's ASICminer....

edit: it looks more like 16 Avalons coming online

I'll call ya crazy.   Wink
If I had a car company that promised 300 miles per gallon?  Before the public announcement, I'd have people make sure the thing doesn't catch fire while driving it.  Don't make any kind of announcements until it's solid.  I can wait.

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MPOE-PR
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February 13, 2013, 02:06:24 PM
 #1503

reduce variance. for a publicly owned miner, this is the only way to go.

I think it's the opposite, it is the only way to go for the individual miner. Being publicly owned has nothing to do with it.

If you have a high enough hashrate (more than a few percent of the network) and have to produce dividends in a long enough period (e.g. weekly), that already reduces variance. Why reduce efficiency, introduce an intermediary and increase vulnerability? Makes no sense.

Sounds about right. Asicminer would probably be better served by making its own pool than by trying to making its own exchange.

My Credentials  | THE BTC Stock Exchange | I have my very own anthology! | Use bitcointa.lk, it's like this one but better.
matauc12
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February 13, 2013, 03:02:23 PM
 #1504

reduce variance. for a publicly owned miner, this is the only way to go.

I think it's the opposite, it is the only way to go for the individual miner. Being publicly owned has nothing to do with it.

If you have a high enough hashrate (more than a few percent of the network) and have to produce dividends in a long enough period (e.g. weekly), that already reduces variance. Why reduce efficiency, introduce an intermediary and increase vulnerability? Makes no sense.

Sounds about right. Asicminer would probably be better served by making its own pool than by trying to making its own exchange.
I was gonna say "damn I like that idea" (seriously, no sarcasm), but then I realized a one man pool is just the same as solo mining with "rpcuser"
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February 13, 2013, 03:33:13 PM
 #1505

Just because everybody keeps going on about PPS and high fees:

BTC Guild PPLNS pays orphaned blocks and transaction fees at a lower fee than PPS.  It also uses the highest N value of any pool by a large amount to reduce shift variance significantly over BitMinter and p2pool, and with a much higher pool speed, has lower daily variance as well even when using PPLNS instead of PPS.

RIP BTC Guild, April 2011 - June 2015
memvola
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February 13, 2013, 04:18:42 PM
 #1506

reduce variance. for a publicly owned miner, this is the only way to go.

I think it's the opposite, it is the only way to go for the individual miner. Being publicly owned has nothing to do with it.

If you have a high enough hashrate (more than a few percent of the network) and have to produce dividends in a long enough period (e.g. weekly), that already reduces variance. Why reduce efficiency, introduce an intermediary and increase vulnerability? Makes no sense.


using a pool with 0 fees that distributes trxfees amongst his miners is +ev, no?

Still, assuming the variance is within an acceptable limit, which I think will be the case for ASICMINER for a long time after we deploy, the traffic requirements, latency, additional failure points, trusted intermediaries (p2pool aside), etc. aren't worth the additional decrease in variance in my opinion.

I'd rather see the blocks branded with our name for all eternity. Cheesy Seeing an ASICMINER slice in blockchain.info's hashrate distribution chart would definitely give me a grin.
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February 13, 2013, 04:34:29 PM
 #1507

Still, assuming the variance is within an acceptable limit, which I think will be the case for ASICMINER for a long time after we deploy, the traffic requirements, latency, additional failure points, trusted intermediaries (p2pool aside), etc. aren't worth the additional decrease in variance in my opinion.

I'd rather see the blocks branded with our name for all eternity. Cheesy Seeing an ASICMINER slice in blockchain.info's hashrate distribution chart would definitely give me a grin.
There are many good reasons for either choice. A good argument for using a mining pool is that it acts as a proxy, which prevents you from directly getting DOSed. Longterm ASICMINER probably wants to split the mining gear into segments, each using a different mining strategy, to reduce the risk of being completely shutdown by a cyber attack.

The ASICMINER Project https://bitcointalk.org/index.php?topic=99497.0
"The way you solve things is by making it politically profitable for the wrong people to do the right thing.", Milton Friedman
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February 13, 2013, 05:01:22 PM
 #1508

And there is now:

Rank User Estimated Speed
1   67117   1,324.19 GH/s


- http://www.btcguild.com/halloffame.php

My estimate puts that at about 20 Avalons.

Or, something else.
niko
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February 13, 2013, 05:25:34 PM
 #1509

And there is now:

Rank User Estimated Speed
1   67117   1,324.19 GH/s


- http://www.btcguild.com/halloffame.php

My estimate puts that at about 20 Avalons.

Or, something else.
Are there confirmations of Avalon customers receiving their units?

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
LazyOtto
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February 13, 2013, 05:31:28 PM
 #1510

And there is now:

Rank User Estimated Speed
1   67117   1,324.19 GH/s


- http://www.btcguild.com/halloffame.php

My estimate puts that at about 20 Avalons.

Or, something else.
Are there confirmations of Avalon customers receiving their units?
Yes.   https://bitcointalk.org/index.php?topic=140539.msg1519802#msg1519802

That link allows me to respond with an affirmative to your question.
But it wasn't really the question you meant to ask.   Wink
DutchBrat
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February 13, 2013, 06:25:00 PM
 #1511

I guess we will know within the next 18hrs if it is us mining.... Friedcat update due very soon
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February 13, 2013, 06:56:26 PM
 #1512

And there is now:

Rank User Estimated Speed
1   67117   1,324.19 GH/s


- http://www.btcguild.com/halloffame.php

My estimate puts that at about 20 Avalons.

Or, something else.
Are there confirmations of Avalon customers receiving their units?
Yes.   https://bitcointalk.org/index.php?topic=140539.msg1519802#msg1519802

That link allows me to respond with an affirmative to your question.
But it wasn't really the question you meant to ask.   Wink
You're right from all angles! The mistery miner is either an Avalon customer from China, or ASICMINER. Even though I just sold my ASICMINER shares, still awaiting with excitement friedcat's update.

They're there, in their room.
Your mining rig is on fire, yet you're very calm.
creativex
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February 13, 2013, 07:25:45 PM
 #1513

It's either 22 Avalons or ASICMiner at this point. As the hashrate continues to grow the likelihood that it's a large cache of Avalon units shrinks.

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February 13, 2013, 07:36:33 PM
 #1514

Thats one thing i dont like with the communication of friedcat. He really only will write an update once a week. While im sure every day many things happen. So whats the problem to make a really short daily update like "Today wiring cables and testing software." or something. That would mean 5 minutes max each day. That should be possible. But so the thread grows with speculation only.
teek
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February 13, 2013, 07:42:54 PM
 #1515

Thats one thing i dont like with the communication of friedcat. He really only will write an update once a week. While im sure every day many things happen. So whats the problem to make a really short daily update like "Today wiring cables and testing software." or something. That would mean 5 minutes max each day. That should be possible. But so the thread grows with speculation only.

this is how real companies work though,  a week is actually quite often and we are really only getting these kind of updates "because bitcoin"


matauc12
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February 13, 2013, 07:49:24 PM
 #1516

Thats one thing i dont like with the communication of friedcat. He really only will write an update once a week. While im sure every day many things happen. So whats the problem to make a really short daily update like "Today wiring cables and testing software." or something. That would mean 5 minutes max each day. That should be possible. But so the thread grows with speculation only.

this is how real companies work though,  a week is actually quite often and we are really only getting these kind of updates "because bitcoin"


The thing is we had claims that "updates should be more frequent as milestones are reached" and also "expect good news very soon". Although soon has no meaning itself, it somewhat implies that it would be before the expected update of Thursday.

So basically, all in all, the current state of communication implies that nothing important really happened. Which raises the question of deadlines (although not specific dates, time frames being over extended) not being met, which in themselves sort of require communication.

If that isn't true, well, what was it to say "yes its us" "no it isn't" "small delay".... I just see a lose-lose scenario in term of shareholder confidence (not that it really has any bearing at this point since shares cant be traded) when approaching claimed important time frames and communication being scarce.
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February 13, 2013, 07:55:00 PM
 #1517

And there is now:

Rank User Estimated Speed
1   67117   1,324.19 GH/s


- http://www.btcguild.com/halloffame.php

My estimate puts that at about 20 Avalons.

Or, something else.

10% more online now: 1,481.42 GH/s

It's night in China so if it is ASICMINER they are up working late... which would be the thing to do!

I just registered a BTC Guild user and got a user ID only just above 67117 so they are a relatively new user (I guess we already knew this). Sorry speculation is fun.

"The difference between a castle and a prison is only a question of who holds the keys."
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February 13, 2013, 08:16:02 PM
 #1518

@ianbakewell... It might be your view of this but the most people here seems to be stretched to a breaking point. So you dont want this info but others do. And i would prefer to read a sentence about the days work which would mean nearly no work to post because then i would know whats happening instead having to speculate or coming back here only to see more speculation but no real info.

@all Arent the avalons sent out to different users or is there a big customer between? I mean if it really means 20 avalons to get this hashrate is there a customer that bought so much? If not it can only be asicminer isnt it?
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February 13, 2013, 08:19:28 PM
 #1519

@all Arent the avalons sent out to different users or is there a big customer between? I mean if it really means 20 avalons to get this hashrate is there a customer that bought so much? If not it can only be asicminer isnt it?

I think I remember a guy having ordered 28 Avalons or somesuch. But if he did, he'd surely have gloated about it already. Silently just turning these things on and then commenting on it way later smells decidedly like fried cats.
matauc12
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February 13, 2013, 08:28:52 PM
 #1520

At the end of the day, what does it matter? People around here are so fuckin needy for no real gain.

When the the trading platform is live and dividends are coming I hope to see an update from friedcat.
Until then, don't you think he has better shit to do than update you about how many wires have been plugged in and debate over the pool (non)issue?
I was the first to say it doesn't make an actual difference to know or not. But these were supposed to be online by November. And in a community that has been scammed over and over, communication becomes more important for confidence. I am not saying this is a scam, I am saying taking that 5minutes when you are again overdue on the deadlines is not asking much. I agree knowing won't change much, but information is information, I tell you that you will have less information about your life tomorrow than you do today, you wouldn't see the point to see tomorrow.

Especially, this being a race, why wait to announce the winner 5 days after the race is over?
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