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Author Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It  (Read 3914126 times)
silverfuture
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September 19, 2014, 12:55:55 PM
 #23221

You could sell 300 shares right now and still not drive the price lower than ipo. Whatchoo talking 'bout?

You're wrong. You need under 200 shares to hip IPO price. So I guess... soon™

149 Shares were already sold since you made your original statement. You are wrong.

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stompysteve
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September 19, 2014, 12:56:16 PM
 #23222

Silence + btc price =   Cry
bitcoin.newsfeed
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September 19, 2014, 01:00:27 PM
 #23223

You could sell 300 shares right now and still not drive the price lower than ipo. Whatchoo talking 'bout?
You're wrong. You need under 200 shares to hip IPO price. So I guess... soon™
149 Shares were already sold since you made your original statement. You are wrong.

No shit.  Wink

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September 19, 2014, 01:06:19 PM
 #23224

FC came out and told that AM has begun self-mining when the shareprice down to 0.13 last time.
so let's waiting for it.  Grin
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September 19, 2014, 01:22:11 PM
 #23225

Silence + btc price =   Cry


Nothing changes in the Bitcoin world does it....  Undecided
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September 19, 2014, 01:42:10 PM
 #23226

I filled some numbers into mining calculator and it's true that current ASICminer TUBE with gen3 chips will become obsolete in just one month from now? Do we have like 60Ph of these ? ? ?

Oh, you filled in some numbers on a mining calculator did you? What number did you use for the price of the miners? Let me take a quick guess - the retail price? What number did you use for power costs? 0.15 $/kWh?

Now, can you tell me the problem with that scenario?
bitcoin.newsfeed
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September 19, 2014, 01:50:10 PM
 #23227

I filled some numbers into mining calculator and it's true that current ASICminer TUBE with gen3 chips will become obsolete in just one month from now? Do we have like 60Ph of these ? ? ?

Oh, you filled in some numbers on a mining calculator did you? What number did you use for the price of the miners? Let me take a quick guess - the retail price? What number did you use for power costs? 0.15 $/kWh?

Now, can you tell me the problem with that scenario?

Price of miners : 100$
Power costs : lower end what Friedcat said, so 0.12 $/kWh
delivery cost : 0$
setup cost : 0$
maintain cost : 10$/month
diff rise : 10%

and still you are unable to even break-even that 100bucks, retail price is four times more, any more questions?  Smiley

go ahead : https://bitcoinwisdom.com/bitcoin/calculator


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September 19, 2014, 02:08:03 PM
 #23228

@bitcoin.newsfeed Nothing against you, you used to be more enthusiastic, if you are not happy and bought at 1BTC your shares, it is your mistake, not FC's. Whatever, sell or not, pissed or not, you are just helpless. Wink
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September 19, 2014, 03:07:02 PM
 #23229

I filled some numbers into mining calculator and it's true that current ASICminer TUBE with gen3 chips will become obsolete in just one month from now? Do we have like 60Ph of these ? ? ?

Oh, you filled in some numbers on a mining calculator did you? What number did you use for the price of the miners? Let me take a quick guess - the retail price? What number did you use for power costs? 0.15 $/kWh?

Now, can you tell me the problem with that scenario?

Price of miners : 100$
Power costs : lower end what Friedcat said, so 0.12 $/kWh
delivery cost : 0$
setup cost : 0$
maintain cost : 10$/month
diff rise : 10%

and still you are unable to even break-even that 100bucks, retail price is four times more, any more questions?  Smiley

go ahead : https://bitcoinwisdom.com/bitcoin/calculator



Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

The point I was making was that you don't have the necessary information to make such concrete declarations and you never will. There are just too many variables to consider.

Also, FC didn't say that current power costs are 0.12 $/kWh.

16) Previously our Asicminer farm was mining bitcoins and distributing a weekly dividend, will Asicminer update its present hash rate in the mining farms to account for current difficulty changes and to procure a secondary supply of Bitcoins to adapt for rapid changes in Bitcoin prices?
Yes. But that should be when we replace the farm with BE200 based devices, otherwise it is no point considering the 0.12-0.15$/kwh electricity price we get for our old farms.

That's just the electricity price they were getting for their old farms. Says nothing about the new farms. Then we have this:

Update
1. Due to the relatively lower interest from individual miners as well as OEM producers, the self mining has re-started from middle of July. We had gain access of cheap electricity and high power capacity. We hope to regain the average hashrate percentage similar to 2013 with this generation of chips.

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September 19, 2014, 03:51:27 PM
 #23230

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.
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September 19, 2014, 03:56:35 PM
 #23231

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.

And with the $500 exchange rate.

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September 19, 2014, 04:45:38 PM
 #23232

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?
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September 19, 2014, 05:05:47 PM
Last edit: September 19, 2014, 05:17:19 PM by Mabsark
 #23233

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.

Good luck with pretending that any fixed percentage difficulty increase is realistic. Also, with bitcoin prices so low, small difficulty increases are more likely than large ones.

Edit: The last 10 difficulty increases with oldest first are as follows:

18.10%
12.44%
14.51%
24.93%
3.08%
8.08%
5.30%
20.86%
15.03%
8.75%

The next difficulty increase is looking to be around 9.3% at the moment.
NotLambchop
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September 19, 2014, 05:10:43 PM
 #23234

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

In other words, substitute reality with ridiculous fiction, and suddenly the math works.

In your defense, over the last couple of years, we did have a difficulty increasing of 5% or less.  ONE.  https://bitcoinwisdom.com/bitcoin/difficulty

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September 19, 2014, 05:48:23 PM
 #23235

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.

Good luck with pretending that any fixed percentage difficulty increase is realistic. Also, with bitcoin prices so low, small difficulty increases are more likely than large ones.

Edit: The last 10 difficulty increases with oldest first are as follows:

18.10%
12.44%
14.51%
24.93%
3.08%
8.08%
5.30%
20.86%
15.03%
8.75%

The next difficulty increase is looking to be around 9.3% at the moment.

Wisdom's projecting ~18% - is that according to BitcoinCharts?  In my experience, Wisdom's been a bit more accurate.  I think charts uses a simple moving average while Wisdom uses a first-order expansion or similar based on the 504-moving average

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September 19, 2014, 05:53:50 PM
 #23236

Did anyone ever figure out who the private backers were for the data tank project?  I think its safe to say that the data tank guys knew the AsicMiner guys as most of Data Tanks prospectus was based off of the BE200 chip.  Has anyone explored if Friedcat was the mysterious backer who bought up all the shares and they are currently working to setup and deploy these immersion cooled tanks?
It wouldn't be too far fetched that what is on BTCguild right now is more of a proof of concept, trying it out in small scale before finalizing the full tank design, and if I remember correctly the timeline that data tank would be operational is coming around soon.

Not speculating or anything, was just wondering if anyone had thought of this or explored whether or not Friedcat could be one of the mysterious backers of this project?



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September 19, 2014, 06:00:09 PM
 #23237

Wisdom's projecting ~18% - is that according to BitcoinCharts?  In my experience, Wisdom's been a bit more accurate.  I think charts uses a simple moving average while Wisdom uses a first-order expansion or similar based on the 504-moving average

Yeah, that's based on BitcoinCharts.
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September 19, 2014, 06:03:03 PM
 #23238

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?

Because I don't live off bitcoin.

Wisdom's projecting ~18% - is that according to BitcoinCharts?  In my experience, Wisdom's been a bit more accurate.  I think charts uses a simple moving average while Wisdom uses a first-order expansion or similar based on the 504-moving average

Yeah, that's based on BitcoinCharts.

BitcoinWisdom has the best predictions. Don't follow bitcoincharts.

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September 19, 2014, 06:03:48 PM
 #23239

Has anyone explored if Friedcat was the mysterious backer who bought up all the shares and they are currently working to setup and deploy these immersion cooled tanks?

Not speculating or anything, was just wondering if anyone had thought of this or explored whether or not Friedcat could be one of the mysterious backers of this project?

If officially confirmed this would be great news - especially that AM will need a lot of capacity for gen4.
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September 19, 2014, 06:37:51 PM
 #23240

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?

Because I don't live off bitcoin.

More to the point, why are you spending thousands of dollars on pre-orders if you think the bitcoin price is going to continue to fall?
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