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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3901586 times)
David Chen
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November 28, 2013, 02:53:31 AM
 #15641


there is no auction price yet. my guess: it will end up at 0.6.
  There will be no divs, and likely no news in the next 2 days. Other than drunken bidding, what would cause it to reach close to double the going rate?  I know the champagne is flowing free today, but by Saturday I would expect even the hangover to be mostly gone  Shocked

Thank you. News within the next 2 days would be nice though.

Please don't pop all them bottles yet...
News? pls don't spread the rumor...

reputation is everything.
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empoweoqwj
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November 28, 2013, 02:56:24 AM
 #15642

I seriously hope it drops to .20 tonight:) I want to buy buy buy..I'm almost a board member if that happens!
So you are a millionaire? 0.2 * 5000 * 1000 = 1M. Congratulations.

BTW, it is interesting that the AM1 price now almost exactly follows Seb's auction price. Smiley


Or does sebs auction follow the AM1 price?

there is no auction price yet. my guess: it will end up at 0.6.

Won't get anywhere near 0.6 - when was the last time AM shares sold for 0.6???
DiabloD3
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November 28, 2013, 03:38:31 AM
 #15643

Is friedcat no longer responding to PMs?

Over the past month I've sent him requests to send direct shares to other people (part of the DMC shutdown), and 2 people havent gotten there shares and he hasnt responded to 2 requests for confirmation of what shares DMC still has and if those shares indeed have been sent.

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November 28, 2013, 03:43:56 AM
 #15644

Anyone good with a calculator that can workout how much TH/s one of those containers with the new proposed chips would pump out. It would be interesting to know how many containers would be needed to capture 10%-20% of the market again (at this difficulty rate anyway)


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Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
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Is Dash a scam?
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November 28, 2013, 03:56:59 AM
 #15645

Anyone good with a calculator that can workout how much TH/s one of those containers with the new proposed chips would pump out. It would be interesting to know how many containers would be needed to capture 10%-20% of the market again (at this difficulty rate anyway)

Somebody did an estimation recently, if the cointainer was filled with KnC chips (that are not particularly efficient for being 28nm, bitfury ones are better) it would spit ~600TH/s (if I remember well). Cannot find that post again...

Monero's privacy and therefore fungibility are MUCH stronger than Bitcoin's. 
This makes Monero a better candidate to deserve the term "digital cash".
gaba
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November 28, 2013, 04:46:02 AM
 #15646

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.



With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

LWWE6dtTUXuaq36KTCne5XqMQHfhfwpadC
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November 28, 2013, 05:06:47 AM
Last edit: November 28, 2013, 05:20:10 AM by freedomno1
 #15647

Well for historical purposes what was the price of BTC when Asicminer began Asicmining
Not sure on costs to implement script though

But back to old post
https://bitcointalk.org/index.php?topic=99497.msg2175763#msg2175763
empoweoqwj
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November 28, 2013, 05:23:46 AM
 #15648

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.



With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

Potentially worth a lot. Potentially worth very little. Remember, in the real world, BTC has incredible traction and increasing utility. LTC ..... next to none. Not saying its not worth looking at, but since AM already turned it down because of the way litecoins are mined, I doubt he's going to do a U-turn
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November 28, 2013, 05:25:41 AM
 #15649

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.



With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

Potentially worth a lot. Potentially worth very little. Remember, in the real world, BTC has incredible traction and increasing utility. LTC ..... next to none. Not saying its not worth looking at, but since AM already turned it down because of the way litecoins are mined, I doubt he's going to do a U-turn

money is money. asicminer can autocovert litecoins to bitoins as well as just taking bitcoins. this CAN be a viable business as well and they can be one of the FIRST to market.

ok
Jutarul
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November 28, 2013, 05:41:25 AM
 #15650

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.



With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.
Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

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
empoweoqwj
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November 28, 2013, 05:44:05 AM
 #15651

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.



With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

Potentially worth a lot. Potentially worth very little. Remember, in the real world, BTC has incredible traction and increasing utility. LTC ..... next to none. Not saying its not worth looking at, but since AM already turned it down because of the way litecoins are mined, I doubt he's going to do a U-turn

money is money. asicminer can autocovert litecoins to bitoins as well as just taking bitcoins. this CAN be a viable business as well and they can be one of the FIRST to market.

I know money is money. My point is simply that without any traction in the real world, this current litecoin bubble could burst and all those people working on LTC ASICs (and yes, there are competitors planning products already), will have just spent money for nothing.

Personally I think the bitcoin market is way too important to take the eye off the ball. We all know AM has a small staff, and managed to cock-up Gen2. My vote goes to focus, focus, focus, on Gen3 and beyond. Leave altcoins to others.

But if AM thinks they can handle LTC without compromising BTC dev, sure.
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November 28, 2013, 05:50:12 AM
 #15652


Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

Right term is Scrypt mining. Scrypt mining is much bigger than LTC mining. Almost all alt coins are based on Scrypt. Market is growing.
http://www.coinwarz.com/cryptocurrency/

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Jutarul
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November 28, 2013, 06:26:45 AM
 #15653


Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

Right term is Scrypt mining. Scrypt mining is much bigger than LTC mining. Almost all alt coins are based on Scrypt. Market is growing.
http://www.coinwarz.com/cryptocurrency/
I'd conclude that the reason for choosing scrypt as the basis of new blockchains is to reach a larger user base and to fight the effect of mining warfare, where established networks can squash newcomers. This point makes double sha256 hashing unattractive for newcomers.

There is no inherent benefit of choosing one algorithm over the other. Scrypt is probably chosen as a matter of the cut&paste and pump&dump mentality of the founders. I expect that mentality to change and people will start increasing their innovation level to diversify the POW algorithm itself.

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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November 28, 2013, 06:47:35 AM
 #15654


Noted. From an investment point LTC mining is still not of significance. Owning 50% of a 4% market is still less than owning 10% of the full market. Additionally, albeit the existence of alternative digital currencies is an important aspect of the whole ecosystem, LTC just doesn't have the same market penetration as btc, which raises the question whether a 4% market cap is already bubble territory, especially since the money supply is really 4-fold in LTC, not the 2:1 relationship now.
That said, friedcat may have the resources (time,money) available to fund a project like that as part of the speculative activity of AM - I'll make sure it gets mentioned in one of the upcoming board meetings.

Right term is Scrypt mining. Scrypt mining is much bigger than LTC mining. Almost all alt coins are based on Scrypt. Market is growing.
http://www.coinwarz.com/cryptocurrency/
I'd conclude that the reason for choosing scrypt as the basis of new blockchains is to reach a larger user base and to fight the effect of mining warfare, where established networks can squash newcomers. This point makes double sha256 hashing unattractive for newcomers.

There is no inherent benefit of choosing one algorithm over the other. Scrypt is probably chosen as a matter of the cut&paste and pump&dump mentality of the founders. I expect that mentality to change and people will start increasing their innovation level to diversify the POW algorithm itself.

Is it not a benefit than scrypt is less susceptible to those big established mining networks?

Or would scrypt invariably end up the same? I know for sure ASICs are not a possibility, right?
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November 28, 2013, 07:13:29 AM
 #15655

Is it not a benefit than scrypt is less susceptible to those big established mining networks?

Or would scrypt invariably end up the same? I know for sure ASICs are not a possibility, right?
Only if you define benefit as the temporary absence of a weakness.

Of course there can be an ASIC for scrypt. For one, all you need to do is to minimize the number of transistors used for the core algorithm, getting rid of all the expensive instruction handling in universal processors... At least that will increase computational efficiency. It may take a long time to ROI though, dependend on the market cap (capital expenditure ROI is a function of the opportunity cost difference between acquiring the good vs. the productive capacity).


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
bitcoin.newsfeed
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November 28, 2013, 07:47:59 AM
 #15656

OFFICIAL ASICMINER UPDATE
 
In an effort to take ASICMINER to the next level as a business, the board met today to discuss ways we can provide better service to our customers and better communication to our shareholders. Below you will find some updates of what's been going on behind the scenes.
 


LTC ASIC
ASICMINER determined LTC ASIC is not viable since a high-speed memory bus is much more useful in other industries and very expensive to make in this regard.



With huge increse in price of LTC I think the board must discuss LTC ASIC again. These is a whole new market and worth a lot.

GTFO with LTC !!! LTC is simply inflating Bitcoin in HUGE scale ... we had 21 000 000 BTC hard limit and now we have 21 000 000 and 84 000 000 LTC HuhHuh You Litecoin evangelist are simply destroying Bitcoin for personal gains. Period.

... Question Everything, Believe Nothing ...
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November 28, 2013, 08:03:32 AM
 #15657


I do believe that AM shares are severely under-evaluated. Futures look bright. Many of us are long time investors, but majority here are looking for a quick buck.

I'm only pissed off, by the lack of communication from AM as a company. Recent news we have from AM comes from  blogers/reporters, not from Friedcat.

This kind of delivery is dangerous, imagine real bad news or FUD spread this way.

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November 28, 2013, 08:39:27 AM
 #15658

Any board members ever pay FC a visit, or thinking of ? To see how the empire is doing. It's somewhere in the IPO contract if I have right.
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November 28, 2013, 09:22:09 AM
 #15659

Any board members ever pay FC a visit, or thinking of ? To see how the empire is doing. It's somewhere in the IPO contract if I have right.

Is there a public list of board members?
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November 28, 2013, 10:58:19 AM
 #15660

right now whole LTC network is around 60 000 GPUs (if my math is correct... if not, please correct me), so it could fall like dominoes, if someone wanted to. On the other hand, BTC network is much more stable and uncentralizable (if that's even a word, which it probably isn't  Grin )
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