ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Digigami]

This thread must remain absolutely silent or off-topic, because "ASICMINER" shares are not tradable until their exchange opens.

Please take the talk of "ASICs" out of this thread, which is for the topic of "Securities."  It does not belong here.

There is an appropriate "Mining Hardware" section where such discussion may take place.

Private share exchanges ARE authorized as per friedcat's last update.

Trading: The platform is still in its testing cycle. Private trades are entitled when registering in our place by PM or e-mailing me. Please do it in larger quantities and lower frequency because we cannot handle too much requests in time especially in this period.

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[MPOE-PR]

Please take the talk of "pass-through" scams out of this thread.  It does not belong here.

This thread must remain absolutely silent or off-topic, because "ASICMINER" shares are not tradable until their exchange opens.

Please take the talk of "ASICs" out of this thread, which is for the topic of "Securities."  It does not belong here.

There is an appropriate "Mining Hardware" section where such discussion may take place.

Lol that escalated quickly....

[repentance]

Can it be that friedcat now fixed the hashrate to around 2TH/s at btcguild and is running the rest solomining? Can this be found out?

If the other 10 TH was running, you'd notice it in the overall network hash-rate very quickly.  You can't hide 10 TH in the current network, whether you're mining solo or through pools

[SebastianJu]

Can it be that friedcat now fixed the hashrate to around 2TH/s at btcguild and is running the rest solomining? Can this be found out?

If the other 10 TH was running, you'd notice it in the overall network hash-rate very quickly.  You can't hide 10 TH in the current network, whether you're mining solo or through pools

I didnt mean 10TH, but its strange that it remains at this level now. Im not sure but the part of solominers looks bigger to me now than before. And if they bring the hardware online in the same speed like with btcguild they probably are around 3TH/s at the moment in total only or so.

[matauc12]

Can it be that friedcat now fixed the hashrate to around 2TH/s at btcguild and is running the rest solomining? Can this be found out?

If the other 10 TH was running, you'd notice it in the overall network hash-rate very quickly.  You can't hide 10 TH in the current network, whether you're mining solo or through pools

I didnt mean 10TH, but its strange that it remains at this level now. Im not sure but the part of solominers looks bigger to me now than before. And if they bring the hardware online in the same speed like with btcguild they probably are around 3TH/s at the moment in total only or so.

He called the previous btcguild deployment "stress test" inferring that it might not be the start of a full deployment. There could be many reasons for that, some being : not at the permanent emplacement, temporary setup for easy access and manipulation, software setup... The list goes on.

Nonetheless, every second is $$

[keystroke]

Can it be that friedcat now fixed the hashrate to around 2TH/s at btcguild and is running the rest solomining? Can this be found out?

If the other 10 TH was running, you'd notice it in the overall network hash-rate very quickly.  You can't hide 10 TH in the current network, whether you're mining solo or through pools

I didnt mean 10TH, but its strange that it remains at this level now. Im not sure but the part of solominers looks bigger to me now than before. And if they bring the hardware online in the same speed like with btcguild they probably are around 3TH/s at the moment in total only or so.

He called the previous btcguild deployment "stress test" inferring that it might not be the start of a full deployment. There could be many reasons for that, some being : not at the permanent emplacement, temporary setup for easy access and manipulation, software setup... The list goes on.

Nonetheless, every second is $$

Given that the rate fluctuated and he knew the failure rate was <5%, could they have tested everything but not yet powered everything on all at once? Maybe they are waiting for the next difficulty change to put everything online? It might make sense to not move the difficulty up given that it is changing in 48 hours.

[matauc12]

Can it be that friedcat now fixed the hashrate to around 2TH/s at btcguild and is running the rest solomining? Can this be found out?

If the other 10 TH was running, you'd notice it in the overall network hash-rate very quickly.  You can't hide 10 TH in the current network, whether you're mining solo or through pools

I didnt mean 10TH, but its strange that it remains at this level now. Im not sure but the part of solominers looks bigger to me now than before. And if they bring the hardware online in the same speed like with btcguild they probably are around 3TH/s at the moment in total only or so.

He called the previous btcguild deployment "stress test" inferring that it might not be the start of a full deployment. There could be many reasons for that, some being : not at the permanent emplacement, temporary setup for easy access and manipulation, software setup... The list goes on.

Nonetheless, every second is $$

Given that the rate fluctuated and he knew the failure rate was <5%, could they have tested everything but not yet powered everything on all at once? Maybe they are waiting for the next difficulty change to put everything online? It might make sense to not move the difficulty up given that it is changing in 48 hours.

That is somewhat irrelevant since the change is based on the average and were 80% through.

[DutchBrat]

So if I calculate correctly ASICMINER has around 1 mln rmb in debt/costs that need to be paid. Divide by 6, gives around $160.000 debt/costs

If they can get all 12TH online in the next week (before BFL gets the bulk of their customers online), ASICMINER will be 1/3rd of the network.

3600 BTC / day * 1/3rd = 1200 BTC * $ 20 (safety margin) = $24000 a day

So if we are lucky we will be a debt free company before March 1st !

Nice !!!!

[keystroke]

Looks like 2.3 has been surpassed: 2,319.07 GH/s

[mc_lovin]

why not p2pool, isn't that pretty decentralized?  asicminer could really bring them into the light!

ASICMINER would become more than 95% of p2pool, which means almost no reduction in variance for a significant overhead. Going solo is better in every way. Someone mentioned that pools are more resistant to DDOS than solo mining but I doubt that there is a good supporting argument for that either.

However, I presume friedcat thinks we will most likely be below a few percent for the most of our operation and that's why he will develop the infrastructure with pools in mind. In that case, we could use one p2pool instance among other pools.

Yes, but it would also prevent friedcat from becoming a threat in a 51% situation since he does not control the output. p2pool has made monolithic pools obsolete, and I don't understand why anyone would be silly enough to ever use anything but p2pool.

Glad you agree. 

I think instead of ASICMINER mining solo and silently (and innocently) having >51% of the network (if they roll out 50 TH in a couple weeks they will!) it would make the rest of the network satisfied knowing that they are simply making the network stronger and there is nothing foul they could do in the process.

But, they wouldn't do anything foul to begin with.  There is no point in them 51%ing Bitcoin since they have invested so much and causing any problem with the network would be ludacris.  If they did a huge doublespend or something, and caused Bitcoin's reputation to become sour, they would lose everything they could possibly gain and much more by ruining the money that they are earning with the machine.  I think we can all agree that even if they had a large majority of the network, they would do nothing different other than mine the coins and make everyone happy.

I think mining at p2pool would be great for a psychological reasons.  Sure, if they had >51% of network hashrate and were mining p2pool they could stop at anytime and solo for a bit and then go p2pool'ing, but that's not likely.  If they were mining for a big pool, that pool would have >51%, and it would put the trust in that pool operator.  If they were mining solo, it would put the trust in them.  As trustworthy as they are, if they have >51% for one moment that would mean they have that ratio for days, weeks, or even months.  As they keep scaling up equipment, they could maintain it for as long as it takes, as the profits could produce these machines quite easily.  The more they order, the lower their costs go, and the profits are just going to be astounding.  They are not a threat, but if they get that kind of speed, they will be the talk of the town for a long time and it could lower faith in the bitcoin network as a whole, at least until competition arrives.

If BFL starts pumpin' out those little black boxes, then the threat is reduced dramatically as we will all be on a level playing field.  At that point, sure, solo it up.  Until that time comes, I think they should keep p2pool in mind to keep people from thinking they could do something innocent yet break the whole network.  Profits would be similar to solo or pooled mining and everyone's happy. 

[Mausini]

Strategic goal for ASICMINER should be to run a significant portion of the network for as long as possible -yet under no circumstances more than 50%. EVen if they are trustworthy, the whole point of bitcoin is not having to trust anyone.

What are your current best estimates of Avalon and BFL preorders in [th/s]? Anyone?

[Gabit]

Strategic goal for ASICMINER should be to run a significant portion of the network for as long as possible -yet under no circumstances more than 50%. EVen if they are trustworthy, the whole point of bitcoin is not having to trust anyone.

I tend to agree, but I would suggest that Asicminer should sell the rest of the extra Ghash  (>1/3 and definitely > 1/2) to stock holders thus benefiting stock holders, the company (as in profit) and diversifying ownership of the hash rate. Win-win-win.

[memvola]

Strategic goal for ASICMINER should be to run a significant portion of the network for as long as possible -yet under no circumstances more than 50%. EVen if they are trustworthy, the whole point of bitcoin is not having to trust anyone.

I tend to agree, but I would suggest that Asicminer should sell the rest of the extra Ghash  (>1/3 and definitely > 1/2) to stock holders thus benefiting stock holders, the company (as in profit) and diversifying ownership of the hash rate. Win-win-win.

Even though this would be terribly neat, developing hardware to mine under your supervision is much more simpler than building something suitable for shipping to end users. In addition to this, you need to actually ship those, which means regulation overhead, various additional taxation, time lost during shipment, etc. As a stock holder, you're far better of if the devices do start mining right away.

I think a yet neater solution would be to build and sell a complete mining farm, closer to the physical location to the current one. The money needed to buy the farm out of ASICMINER can be raised through one of the BTC exchanges. If I had the means to do this myself, I definitely would. We probably need someone trustworthy, that can be in the region on a permanent basis to accomplish this.

[Korbman]

What are your current best estimates of Avalon and BFL preorders in [th/s]? Anyone?

Anywhere between 200-400TH/s once everything is out the door for both BFL and Avalon. Though those numbers were made pre-bASIC-failure though.

[niko]

Strategic goal for ASICMINER should be to run a significant portion of the network for as long as possible -yet under no circumstances more than 50%. EVen if they are trustworthy, the whole point of bitcoin is not having to trust anyone.

Think again. What if ASICMINER split their 60% of power into two groups, each controlled by one separate group of board members?  Would you still be concerned? By the same token, what if two operators of pools, each controling 26% of the network (so nobody cares), got together and decided to double-spend their transactions, or not to include any of my transactions?
My point: Bitcoin is the "51%" attack. If you are so worried about one business entity (with all the people comprising it) controling >50% of the network, why not worry about two business entities doing the same? It may even require less people to go rogue than in the first case.
There is always a group of people that controls 51% of the network. There is a group that control 100%. The miners.
Finally, what if some miners are not honest? They can just lose their profits and the investment, and temporarily disrupt processing of payments (until people notice the problem). My coins are still perfectly safe. They can't spend them.

[SebastianJu]

Whats this 51% attack speak for? It doesnt make sense to attack the network this way. The only reason someone would try it would be to destroy bitcoin or harm it. But it doesnt make sense to attack when you want to earn money from it. Its clear that asicminer was built do earn money so there is no point to think that there is the risk of a 51% attack. That would simply be stupid to do, so please stop bothering about it.

I dont like the idea to sell asics yet. Or even give free samples to someone. That doesnt make sense. All the hashingpower should remain with friedcat so that all can take part with the earnings in a fair share. We already know that the asics work so there is even no need to give samples to proof this.

Selling or giving away asics should only be done when the profitability is way less. Otherwise single persons would get an uncool advantage against the rest.

I think the small changes in hashrate at btcguild are only a variance. Friedcat probably doesnt send more asicpower that way. So i guess they now let solo mine the remaining asics and i believe its not so easy to find a solominer in this solo miners pool. Thats why http://blockchain.info/pools shows the most of the solominers as unknown. I wonder how much TH asicminer runs at the moment. http://blockchain.info/de/charts/hash-rate shows that the hashrate goes up consistently so it looks to me like friedcat is bringing in more hashrate... only not more at btcguild anymore. Im not sure how exact the graph is but it looks like around 5-6TH more hashingpower are working since the last days. I wonder how much asicminer is there involved.

[DutchBrat]

It would be a good idea if shareholders could actually keep track of hashingpower and income on a website somewhere....

[DiabloD3]

It would be a good idea if shareholders could actually keep track of hashingpower and income on a website somewhere....

It'd be a good idea to stop distracting friedcat while hes busy setting up the farm.

[matauc12]

It would be a good idea if shareholders could actually keep track of hashingpower and income on a website somewhere....

It'd be a good idea to stop distracting friedcat while hes busy setting up the farm.

I think you just woke him up!

Come on, a forum post a distraction? Lol

And as a more constructive answer ; I believe the trading platform website is also gonna contain those information, especially considering you will need an account, it would be ideal and I would be surprised if they over sighted that opportunity although it isn't confirmed.

[bougelahi]

Down to 800 GHash/s now 200 GHash/s on btc guild, could we be launching for real soon??

EDIT: Went back to 2.5 THash/s don't know why it dropped, nevermind!