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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3885670 times)
SebastianJu
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March 12, 2013, 02:13:41 AM
 #2261

Hm... "Critical: Current Bitcoin network fork. Action needed by mining pools. Merchants should hold transactions." https://bitcointalk.org/index.php?topic=152030.0
I hope bitfountain doesnt lose much hashingwork by this...

Right now Asicminer is about 15% of the network, while they might temporarily exceed that even Friedcat is only talking about averaging 10% over the year. Also keep in mind they're only paying out 150k shares until 0.1 is paid. After that dividends will be paid to all 400k shares.

0.6/share is overvalued IMO, let alone an insane number like 2.2.

I know that they half after ipo-price is met. I think i wrote this too. And no, it looks another way at the moment, not only 10%. I think friedcat guessed that the competition will be way more lively, but it isnt. But of course its everyones own decision to set the price he wants to sell for. At these rates i wont take part as a seller at least.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
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Franktank
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March 12, 2013, 02:24:16 AM
 #2262

Perhaps this might not be the place for it but how does the "fork" affect ASICMiner? Or doesn't even do anything? Or am I just riffing and don't know what I'm talking about?
MrTeal
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March 12, 2013, 02:25:55 AM
 #2263

Also keep in mind they're only paying out 150k shares until 0.1 is paid.
I don't think that is the case.

There are 200k shares in the ASICMiner, 'preferred', pool.

Just because they weren't sold doesn't mean they don't exist.

AFAIK, BitFountain owns those unsold ASICMiner shares - I think around 30k. As well as their own 200k.

I'm just going off some math and what Friedcat posted.
Pre-Update

First week's dividends paid. Total sum 3860.41091438. This is all mining revenue minus the paid urgent debts and reserves.

I cannot hold myself from some sleep. We will explain the status of our project, how we are going to improve the deploying speed for the second batch, and give a public brief financial information after that. If I could get up before Feb 28. 11:59:59 PM forum time it will still be a Thursday update. Smiley
3860.41091438 / 0.02354454 = 163k (sorry, not 150k)

Even if they can keep up 15% of the network short term (maybe 4300 BTC/week given increased production due to increasing hash rate?) that would be a weekly dividend of a little under 0.011BTC/share.
SebastianJu
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March 12, 2013, 02:32:46 AM
 #2264

Perhaps this might not be the place for it but how does the "fork" affect ASICMiner? Or doesn't even do anything? Or am I just riffing and don't know what I'm talking about?

A fork means there was a second blockchain created out of a bug in the new bitcoinclient. Im not sure if bitfountain is still mining on those 2 pools only but if these pools switched to the new bad software then the blocks created are rubbish. No earning. The software should be switched to the previous version so that the old blockchain can win.
I think the worst that can happen is that bitfountain lost the work of some hours.

Please ALWAYS contact me through bitcointalk pm before sending someone coins.
keystroke
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March 12, 2013, 02:49:34 AM
 #2265

Perhaps this might not be the place for it but how does the "fork" affect ASICMiner? Or doesn't even do anything? Or am I just riffing and don't know what I'm talking about?

A fork means there was a second blockchain created out of a bug in the new bitcoinclient. Im not sure if bitfountain is still mining on those 2 pools only but if these pools switched to the new bad software then the blocks created are rubbish. No earning. The software should be switched to the previous version so that the old blockchain can win.
I think the worst that can happen is that bitfountain lost the work of some hours.
Looks like BTC Guild is fully downgraded to .7 now.

"The difference between a castle and a prison is only a question of who holds the keys."
toffoo
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March 12, 2013, 02:57:03 AM
 #2266

Looks like BTC Guild is fully downgraded to .7 now.

So actually ASICMINER is now helping ... to SAVE BITCOIN!  hurray!  Mine faster fellow 0.7 miners, we can fix this mess together!

TradeFortress 🏕
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March 12, 2013, 03:13:27 AM
 #2267

Looks like BTC Guild is fully downgraded to .7 now.

So actually ASICMINER is now helping ... to SAVE BITCOIN!  hurray!  Mine faster fellow 0.7 miners, we can fix this mess together!
Yup, except the hashpower dropped significantly recently.
HorseRider
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March 12, 2013, 03:20:05 AM
 #2268

This crisis will help ASICMINER enjoy the low difficulty a little bit longer.

16SvwJtQET7mkHZFFbJpgPaDA1Pxtmbm5P
MrTeal
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March 12, 2013, 03:22:54 AM
 #2269

Looks like BTC Guild is fully downgraded to .7 now.

So actually ASICMINER is now helping ... to SAVE BITCOIN!  hurray!  Mine faster fellow 0.7 miners, we can fix this mess together!
Yup, except the hashpower dropped significantly recently.

Did the hashpower drop, or is it just that a large number of blocks disappeared from the chain and since hashrate is estimated from the number of blocks per hour there is just an anomaly?
lophie
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March 12, 2013, 03:27:03 AM
 #2270

GO GO ASICMINER before the other pools refer to 0.7, hehe I expect a few satoshies more this week because of what is happening Smiley

Will take me a while to climb up again, But where is a will, there is a way...
Jutarul
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March 12, 2013, 03:33:56 AM
 #2271

I hate to crush the euphoria, but difficulty didn't change, so it doesn't really matter how much the hashrate dropped, the #blocks/time is the same for ASICMINER.

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
MrTeal
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March 12, 2013, 03:47:01 AM
 #2272

GO GO ASICMINER before the other pools refer to 0.7, hehe I expect a few satoshies more this week because of what is happening Smiley
Why would Asicminer earn more because of this? BTCGuild was on 0.8, they'll probably lose some income in this mess.
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March 12, 2013, 04:11:49 AM
 #2273

I hate to crush the euphoria, but difficulty didn't change, so it doesn't really matter how much the hashrate dropped, the #blocks/time is the same for ASICMINER.

 Cry

Will take me a while to climb up again, But where is a will, there is a way...
TradeFortress 🏕
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March 12, 2013, 04:21:16 AM
 #2274

Yup, difficulty does not change instantly, it changes about once every 2 weeks.
JordanL
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March 12, 2013, 04:43:03 AM
 #2275

Will this mess cause the difficulty to increase less the next time it changes? Or will it not have an affect (or only a marginal one)?
Deprived
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March 12, 2013, 04:50:19 AM
 #2276

Will this mess cause the difficulty to increase less the next time it changes? Or will it not have an affect (or only a marginal one)?

It should cause it to rise by less.  It will also mean next difficulty change will take longer to reach - so more blocks mined at the current difficulty.  To that limited extent it helps ASICMINER - but that's offset if BTCguild were previously mining on the v0.8, as all work done on the (soon to be) orphaned part of the chain will be lost.  Depends a bit on the pool's policy for paying for orphaned blocks as well.
rudrigorc2
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March 12, 2013, 04:57:09 AM
 #2277

Yup, difficulty does not change instantly, it changes about once every 2 weeks.

adjusts every 2016 blocks, target is two weeks, right?

how many orphaned did btcguild get?
eleuthria
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March 12, 2013, 05:01:37 AM
 #2278

Will this mess cause the difficulty to increase less the next time it changes? Or will it not have an affect (or only a marginal one)?

It should cause it to rise by less.  It will also mean next difficulty change will take longer to reach - so more blocks mined at the current difficulty.  To that limited extent it helps ASICMINER - but that's offset if BTCguild were previously mining on the v0.8, as all work done on the (soon to be) orphaned part of the chain will be lost.  Depends a bit on the pool's policy for paying for orphaned blocks as well.

FYI: BTC Guild pays orphaned blocks on PPS (by definition, PPS pays orphaned blocks).  We also pay for them on PPLNS, so this fork event hasn't had any affect on ASICMINER earnings passed through from BTC Guild.

RIP BTC Guild, April 2011 - June 2015
TradeFortress 🏕
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March 12, 2013, 05:05:15 AM
 #2279

Will this mess cause the difficulty to increase less the next time it changes? Or will it not have an affect (or only a marginal one)?

It should cause it to rise by less.  It will also mean next difficulty change will take longer to reach - so more blocks mined at the current difficulty.  To that limited extent it helps ASICMINER - but that's offset if BTCguild were previously mining on the v0.8, as all work done on the (soon to be) orphaned part of the chain will be lost.  Depends a bit on the pool's policy for paying for orphaned blocks as well.

FYI: BTC Guild pays orphaned blocks on PPS (by definition, PPS pays orphaned blocks).  We also pay for them on PPLNS, so this fork event hasn't had any affect on ASICMINER earnings passed through from BTC Guild.
Which is why it's not a bad idea to mine on a pool after all Smiley
JordanL
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March 12, 2013, 05:25:39 AM
 #2280

Will this mess cause the difficulty to increase less the next time it changes? Or will it not have an affect (or only a marginal one)?

It should cause it to rise by less.  It will also mean next difficulty change will take longer to reach - so more blocks mined at the current difficulty.  To that limited extent it helps ASICMINER - but that's offset if BTCguild were previously mining on the v0.8, as all work done on the (soon to be) orphaned part of the chain will be lost.  Depends a bit on the pool's policy for paying for orphaned blocks as well.

FYI: BTC Guild pays orphaned blocks on PPS (by definition, PPS pays orphaned blocks).  We also pay for them on PPLNS, so this fork event hasn't had any affect on ASICMINER earnings passed through from BTC Guild.


Appreciate the information, thanks.
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