ASICMINER: Entering the Future of ASIC Mining by Inventing It

[memvola]

You would be over 50% in practice, even if you compute the hashes they give you.

Anyway, an even simpler way to demonstrate a non-malicious majority mining position is to mine solo, and to operate normally, ie. (1) do not cause excessive chain reorgs (monitored by the bitcoin client and by, for example, http://blockexplorer.com/q/reorglog) and (2) do not mess around with transactions (not dropping them, etc).

Obviously. The difference between pledging to mine solely on p2pool and this would be that maybe it would take an hour or so before people figure out you're acting malicious, whereas you'd be immediately suspect if you disappear from p2pool. In practice you can claim technical problems for disconnecting a pool, so no real benefits anyway. It's not like we can send SWAT teams over there. Pools would only be useful for convincing potential future trolls who don't get it.

However, the problem isn't that a farm might attack the network (management won't do it and chances of physically getting taken over are slim), but it would have the ability. This undermines the trust in the proof of work concept.

[DutchBrat]

Following the analogy of all the people claiming ASICminer is a threat, please be advised that BFL is the real threat....

Pre-order money has given them the ability to mount a 80% attack on the network... if/when they have their asics ready.....just never deliver any asics to clients.... whait what do you say? BFL has no incentive to do that as they already have a money making model.... and they will be better off earning money from said model on a long term basis than they ever can from mounting an attack on the network....effectively crashing trust in Bitcoin....

Exactly!

'Nuff said!

[memvola]

'Nuff said!

Not really. What you say is right on spot and the existence and early success of ASICMINER is better for the network; I had argued about this with gmaxwell. However this doesn't relieve us from being responsible and thinking ahead.

[meowmeowbrowncow]

Has there been any substantive conversation about how and when ASICMiner plans to try to gain consumer market share?


I see their self-mining profitability (really, the .35 / share ROI) as good, so long as they maintain a +20% share of the total network.  Reportedly, something ASICMiner does not plan to do.

[DutchBrat]

Zefir: There's definitely someone on OzCoin increasing his/her hashrate.... but no name (Anonymous).... up to 600GH/s at the moment

https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin

[matauc12]

Has there been any substantive conversation about how and when ASICMiner plans to try to gain consumer market share?


I see their self-mining profitability (really, the .35 / share ROI) as good, so long as they maintain a +20% share of the total network.  Reportedly, something ASICMiner does not plan to do.

I don't see that "reportedly" anywhere. Do you?

[phantastisch]

Zefir: There's definitely someone on OzCoin increasing his/her hashrate.... but no name (Anonymous).... up to 600GH/s at the moment

[urlhttps://www.ozcoin.net/content/hall-fame-round-shares-bitcoin][/url]

We are sitting at only 3 TH/s on BTC Guild , i would feel happier if we knew how deploying is going forward...

[novusordo]

Zefir: There's definitely someone on OzCoin increasing his/her hashrate.... but no name (Anonymous).... up to 600GH/s at the moment

][https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin]

Your link is bad and you should feel bad.

[DutchBrat]

Zefir: There's definitely someone on OzCoin increasing his/her hashrate.... but no name (Anonymous).... up to 600GH/s at the moment

][https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin]

Your link is bad and you should feel bad.

I edited the link, thanks

https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin

[bitfair]

This is starting to look very, very good. Almost unbelievably good, actually.

The urgent/non-urgent payments (except for 2nd round packaging/PCB/assemly cost) appear to total at around 5200 BTC (or approx. 865k RMB/140k USD).

Looking at the mining stats at BTC Guild, seems like ASICMINER has found 69 blocks so far, estimated mining revenue is then 1725 BTC. (I know I'm not making corrections for fees/PPS - this is just an estimate.) I'm also going to guess that ASICMINER is the "anonymous" miner on Ozcoin who has found 7 blocks, for another 175 BTC. So let's say a total of 1900 BTC so far.

That should put ASICMINER revenue so far at about 35% of the costs given. Assuming a steady hashrate of 3.5 TH/s gives around 480 BTC/day at this difficulty, which mean all these costs should be covered in 7 days from now. Of course, if hashrate increases, like all shareholders are hoping for, the costs should be covered much quicker (12 TH/s gives approx 1600 BTC/day).

I predict good times ahead for ASICMINER!

[zefir]

I edited the link, thanks

https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin

The top-20 is even more descriptive.

[SaintFlow]

I edited the link, thanks

https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin

The top-20 is even more descriptive.

can you post a screenshot please - for me this page does not load stats

[zefir]

I edited the link, thanks

https://www.ozcoin.net/content/hall-fame-round-shares-bitcoin

The top-20 is even more descriptive.

can you post a screenshot please - for me this page does not load stats

Strange, you must have scripting disabled.

Anyhow, this is the current top-20 at ozco.in:

[Gabit]

Strange, you must have scripting disabled.

Anyhow, this is the current top-20 at ozco.in:

Actually the problem is that the page is loaded under SSL (https) and it tries to load non-secure (http) content from google jsapi (which in this should get blocked by browser, as it claims to be secure but it is not). So one gets the chart if allows this misbehavior.

[Korbman]

Strange, you must have scripting disabled.

Anyhow, this is the current top-20 at ozco.in:

Actually the problem is that the page is loaded under SSL (https) and it tries to load non-secure (http) content from google jsapi (which in this should get blocked by browser, as it claims to be secure but it is not). So one gets the chart if allows this misbehavior.

This ^^


On a topic related note, does anyone know if this user was attributed to ASICMiner or anyone else? I noticed it dropped by 100GH/s but started increasing again...figured it might be a burn in?

[eleuthria]

Don't forget that the OzCoin miner may have been one of the proxy/pool hopping pools.  I know they always used to go to OzCoin/Eclipse when the more easily hoppable pools were having bad rounds.

[🏰 TradeFortress 🏰]

FYI, I am purchasing ASICMINER shares if you want to sell them. PM me.

[Jutarul]

https://forums.butterflylabs.com/blogs/bfl_jody/85-perennial-question-when-will-my-order-ship.html

BFL might ship a unit or two this month maybe, lol!


If BFL fails hard ASICminer should be able to keep 50 to 80% of the network no?

And lets say they do get their 6,000 chips out by July, what will that even add up to in TH?

Thanks.

If BFL and Avalon can't provide significant hashpower to the community, ASICMINER may be forced to either hold back hashpower for a while or push the date for creating customer ready devices. Anything above a 1/3 target for the hashpower hashrate is thin ice because of the fleeting trust in the decentralized nature of bitcoin.

[Jutarul]

https://forums.butterflylabs.com/blogs/bfl_jody/85-perennial-question-when-will-my-order-ship.html

BFL might ship a unit or two this month maybe, lol!


If BFL fails hard ASICminer should be able to keep 50 to 80% of the network no?

And lets say they do get their 6,000 chips out by July, what will that even add up to in TH?

Thanks.

If BFL and Avalon can't provide significant hashpower to the community, ASICMINER may be forced to either hold back hashpower for a while or push the date for creating customer ready devices. Anything above a 1/3 target for the hashpower hashrate is thin ice because of the fleeting trust into the decentralized nature of bitcoin.

Hmm... I do not like that. Might be best to just sell units like BFL does so we can grow.

That's what I mean with "... push the date for creating customer ready devices".

[Mausini]

If BFL and Avalon can't provide significant hashpower to the community, ASICMINER may be forced to either hold back hashpower for a while or push the date for creating customer ready devices. Anything above a 1/3 target for the hashpower hashrate is thin ice because of the fleeting trust in the decentralized nature of bitcoin.

I could not agree more! ASICMINER could adjust hashrate with a feedback loop to keep it at a constant level of below 50% with some safety margin.