ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Korbman]

BTCGuild is showing 2.2TH/s now for them...I nearly crapped myself at the thought of earning 340 Bitcoins a day. Wowzer..

[jabetizo]

BFL's target ship date is only a week away and once their units start hashing ASICMiner's proportion of network power will drop dramatically.

your hashrate relative to the network hashrate doesn't affect how many bitcoins you mine per day. only the current difficulty and your absolute hashrate matter. of course, the difficulty readjusts every 2016 blocks.

[gmaxwell]

Congratulations to ASICMINER!
And thank you for your very significant contribution towards making the Bitcoin network more secure.

Unfortunately, the large consolidation of hashpower under a single administrative entity creates peril, not security. Doubly so with the hashpower assigned to one of the largest mining pools.  The consequence is that there are fewer operations which must be seized, coerced, or hacked in order to undermine the operation of the network.

Congratulations are in order, indeed— but its regrettable that more hasn't been done to mitigate the risk to the Bitcoin ecosystem (getting devices sold ASAP, splitting operations to reduce the incentives to capture it, mining solo, p2pool, or on smaller pools) yet.  I hope more independent parties come online before continued consolidation (rightfully) undermines confidence in Bitcoin technology.

[DiabloD3]

Unfortunately, the large consolidation of hashpower under a single administrative entity creates peril, not security. Doubly so with the hashpower assigned to one of the largest mining pools.  The consequence is that there are fewer operations which must be seized, coerced, or hacked in order to undermine the operation of the network.

In general, what you said is true. However, ASICMINER will not solo mine, and will split hashing power across multiple pools (although I wish friedcat would just go 100% on p2pool and remove the problem of pool owners abusing the privileged of AISCMINER mining on their pool).

[SebastianJu]

How to become the biggest pool? Invite Asicminer: http://blockchain.info/pools

What i wonder is how it can be that the hashrate is rising so constantly. Is it because its an average of the last hour? I mean i think friedcat and crew will put the chips on the board and put it in the rack and that raises the hashingpower with a jump. So i wonder if the continuous raising is from the average hour or do the put the chips together in another way...

2.27TH/s now...

[SgtSpike]

Congratulations to ASICMINER!
And thank you for your very significant contribution towards making the Bitcoin network more secure.

Unfortunately, the large consolidation of hashpower under a single administrative entity creates peril, not security. Doubly so with the hashpower assigned to one of the largest mining pools.  The consequence is that there are fewer operations which must be seized, coerced, or hacked in order to undermine the operation of the network.

Congratulations are in order, indeed— but its regrettable that more hasn't been done to mitigate the risk to the Bitcoin ecosystem (getting devices sold ASAP, splitting operations to reduce the incentives to capture it, mining solo, p2pool, or on smaller pools) yet.  I hope more independent parties come online before continued consolidation (rightfully) undermines confidence in Bitcoin technology.

It won't be long...

[greyhawk]

How to become the biggest pool? Invite Asicminer: http://blockchain.info/pools

What i wonder is how it can be that the hashrate is rising so constantly. Is it because its an average of the last hour? I mean i think friedcat and crew will put the chips on the board and put it in the rack and that raises the hashingpower with a jump. So i wonder if the continuous raising is from the average hour or do the put the chips together in another way...

2.27TH/s now...

Stats are averaged, yes.

[eleuthria]

How to become the biggest pool? Invite Asicminer: http://blockchain.info/pools

What i wonder is how it can be that the hashrate is rising so constantly. Is it because its an average of the last hour? I mean i think friedcat and crew will put the chips on the board and put it in the rack and that raises the hashingpower with a jump. So i wonder if the continuous raising is from the average hour or do the put the chips together in another way...

2.27TH/s now...

The hashrate rises so constantly because the Hall of Fame uses the average hash rate over the course of an hour.  ASICMINER has been putting on single units at a time (each of which runs multiple workers).  As the small update said, this is somewhat of a stress test.

I'm very happy my pool was chosen for the stress test, but I do share the above concerns and hope after the testing is done it is split among pools.  For stress testing, it makes sense to use a single pool so you have a consistent point of comparison when encountering problems.  I'm sure once the units are confirmed to work we'll see them move around and diversify.

[LazyOtto]

At: 2276570

The current difficulty is 3275464.5865656

You will make 349.53877773758808492641 BTC in the next 24 hours at this rate

 

-- edit

plus / minus a bit due to pool fee subtraction and transaction fee addition

[repentance]

ASICMiner now has the trifecta on BTC Guild.  Highest hash rate, most shares and most blocks found at this difficulty.  And they have less than 25% of their first 12 TH online.

[uuidman]

Thanks Friedcat, amazing work and real progress.

[SebastianJu]

ASICMiner now has the trifecta on BTC Guild.  Highest hash rate, most shares and most blocks found at this difficulty.  And they have less than 25% of their first 12 TH online.

I wonder if it will be 12TH at the end. It was targetted but i wonder if it can be reached. At least friedcat said that the overclocking capabilities are higher than thought. So maybe it even will be some TH more than that? Would be interesting to see how many chips are working already and what performance they have so that one could guess the end hashrate...

[niko]

Thanks Friedcat, amazing work and real progress.

The whole team assembling these - this was supposed to be their Chinese New Year vacation...
Once this batch is deployed, there will be work related to the trading platform and the race to the next batch. Only further increase in BTC price can make this all worth the sacrifice - and it seems like we are headed that way!

[memvola]

its regrettable that more hasn't been done to mitigate the risk to the Bitcoin ecosystem (getting devices sold ASAP, splitting operations to reduce the incentives to capture it, mining solo, p2pool, or on smaller pools) yet.

Thanks. It's interesting to observe that people continue to see this as a non-issue. However I'm sure Bitfountain is taking it more seriously than it appears (at least more than people here). Mining solo or directing mining power towards diverse smaller pools would be good enough for now I guess. Depending on projected expansions, physically splitting operations shall also be considered more seriously.

I hope more independent parties come online before continued consolidation (rightfully) undermines confidence in Bitcoin technology.

Actually since Avalon units are being deployed, I think we've already averted any danger to confidence.

[Korbman]

Thanks Friedcat, amazing work and real progress.

..this was supposed to be their Chinese New Year vacation...

Maybe Team Avalon could learn a lesson or two from them..

[SmiGueL]

Nice Friedcat!   (and the rest of the team of course!)

I hope to see some pics if you can find some time to make them
That would be Awesome!

[luffy]

excellent! now i am convinced that ASIC era is here!
thanks guys, l really hope to get an ASIC some day from you 

[DiabloD3]

I wonder if we'll get to 100 pages before friedcat returns to the thread to update us.

[LazyOtto]

I hope to see some pics if you can find any time to make them
That would be Awesome!

<lol>

Yes, that would be nice.

But I'm entirely happy to let them sleep a while before they even think about it.

IMO, the only 'pic' which matters for now is:
2,295.70 GH/s - https://www.btcguild.com/halloffame.php

[VJain]

Pre Update

The deploying is in process. We are stress testing on btcguild with a portion of  our devices. The current computation power is close to 2TH/s.

We have been working day and night and still are. The real update will be given in a few hours.

He posted this message about 4 hours ago... so an update should be here "soon" I hope.