ASICMINER: Entering the Future of ASIC Mining by Inventing It

[JordanL]

Does anyone have an idea why ASICMINER's hashrate at BTC Guild dropped over the past two days??

BTCGuild was under repeated DDoS, so maybe that's the reason... Now the ASICMINER hashrate stands on cca 6,1 TH/s.

Thanks for the info.


Cheers.

[SmiGueL]

Can someone explain what the column "Total TH/s" refers to?

I've indeed converted the Current Difficulty to the equivalent Total Hashrate

Click on the graph for a more detailed version  

Status
This week meets more stagnancy of deploying. But in the last few days we poured 0.5TH/s into our mining farm as the installing of power cables in the new place goes on. The total hashrate grows much less than this, mostly possibly because of the bottleneck in our local network setting. We are still identifying and fixing the problem.

Hm, this is taking almost a week now..

Can somebody who's mining please tell me what the download/upload speeds are when mining with about 1GH/s of GPU's?
Let's say this is for example about 2 kB/s, that would mean a 6,5 TH/s farm requires at least a 100Mb/s internet connection.

I really hope such simple thing as this isn't the problem causing us a few weeks delay, but I can image that 6.5 TH/s is taking a lot of bandwidth

[Dexter770221]

Search for stratum and variable difficulty and you will find out that even with 1000TH/s bandwith can be as low as 1kB/s.

[VeeMiner]

Search for stratum and variable difficulty and you will find out that even with 1000TH/s bandwith can be as low as 1kB/s.

yeah, Slush created stratum protocol exactly because ASIC devices needed it. There shouldn't be a problem with bandwidth

[penta]

newbie question: if i want to buy some shares i see both bitfunder and btctco got them, any ups and down to buying on either? or anywhere else?

what happens if one of the exchanges pull a quick one and disappear, do i still have the stocks linked to my btc address or email?

sorry if this has been answered already.

[LazyOtto]

newbie question: if i want to buy some shares i see both bitfunder and btctco got them, any ups and down to buying on either? or anywhere else?

what happens if one of the exchanges pull a quick one and disappear, do i still have the stocks linked to my btc address or email?

sorry if this has been answered already.

Buy direct if you don't want to take the additional, though probably small, risk of going through an exchange.

https://bitcointalk.org/index.php?topic=148282.0

[SebastianJu]

newbie question: if i want to buy some shares i see both bitfunder and btctco got them, any ups and down to buying on either? or anywhere else?

what happens if one of the exchanges pull a quick one and disappear, do i still have the stocks linked to my btc address or email?

sorry if this has been answered already.

The shares on the exchanges are passthroughs, so if you buy them you dont have a contract with asicminer, but with the owner of the passthrough. And this owner has a contract with asicminer. Till now i only know that deadterras Passthrough allows it that you can change the pt-shares into real shares once you have 240shares. (or around that number) The thread linked is for selling real asicminer shares.

[friedcat]

Update

Clarification of Unsold Shares
Now ASICMINER controls 163,962/400,000 of the whole identity, while Bitfountain controls 236,038/400,000. The former shares will not be diluted, while the latter will. Whenever we need to sell shares to raise funds or giving potential core employees shares/options, only our (Bitfountain's) shares will be reduced.

We consider it to be very fair to investors, because while either letting the investors break even first or protecting the investors from dilution are seen everywhere, having both at the same time is not that common, especially when the portion at the investors' side is already large.

Device Selling
After careful consideration, we decided to address it as a very important decision ahead. There are two factors that serve as the motivation of selling our devices earlier than what we planned before:

1. Vacuum of Deployment. We are now experiencing one. The unconventionally high power density makes our devices hard to be deployed to professional data centers, which also have very high rent charges as their extra downside. So we had and will have to build them of our own. It's a difficult task in a sense that besides the long cycle, unexpected incidents will create a period that we have a lot of devices lying there waiting to generate hashes.

2. Quantity in the Future. The price negotiation of the full mask is almost finished, so if there are no surprises, we will have virtually no third-party limitations on how many chips we could produce in this year. If the exchange rate of BTC against USD further shoots up in the next few months, we could even produce hundreds of wafers each month. Deploying all of them in time is out of our reach unless we expand significantly, which might be pre-mature and inflexible.

The most significant factor in selling devices is pricing. Devices are extremely illiquid because the trading and transportation are great ways of wasting the precious hash-time. Therefore no one knows how they should be priced yet. We would like to do the price discovery with auction by small quantity. The total number used for discovering the price will be very small compared to the whole batch, and the slow deployment rate before the construction of the whole farm infrastructure of the rest and arriving devices provides another motivation.

Other Info
We met a temperal black out this morning. It's caused by the capacity expansion (installing cables and switches). The PCB of the main board and the power module have been finished. The assembling will start as soon as the chips are packaged and passed the automatic tester. Our use of ~0.5MW of power in the new place is also approved. The network bottleneck is not in the internet connection side, but in our local Ethernet. It could be solved by optimizing the firmware and the switch structure, but a simple hot-fix is to add more internet connection accounts and routers, which is what we are doing now. The slow pace of the infrastructure building is also a hard limit, and it forced us to scatter a small portion of our devices to temperal places. They should be put back as soon as the permanent place is OK.

[cosurgi]

Update
The most significant factor in selling devices is pricing. Devices are extremely illiquid because the trading and transportation are great ways of wasting the precious hash-time. Therefore no one knows how they should be priced yet. We would like to do the price discovery with auction by small quantity. The total number used for discovering the price will be very small compared to the whole batch, and the slow deployment rate before the construction of the whole farm infrastructure of the rest and arriving devices provides another motivation.

If you plan to sell your units, you might look at competition. Avalon priced 2nd batch units at 56 BTC per 65 GHs, and 3rd batch units at 100 BTC per 85 GHs.

[SebastianJu]

I think its wise to sell the asics with an auction. This way you can ensure that the machines are sold and you can get out the maximum price. The price of other asic-vendors shouldnt matter because its unknown when they ship and in the past they sold the units for way too less money. That shouldnt happen to asicminer. And when i see that probably fake-avalons at ebay get prices up to $20000 then this would work out fine i believe.
The units should be sold in the smallest package as possible to let more people be able to bid on it and so to maximize the revenue.

Its a pity that so many problems occur. But thanks for explaining whats going on. Its good to have a feeling about it.

[SebastianJu]

Update
The most significant factor in selling devices is pricing. Devices are extremely illiquid because the trading and transportation are great ways of wasting the precious hash-time. Therefore no one knows how they should be priced yet. We would like to do the price discovery with auction by small quantity. The total number used for discovering the price will be very small compared to the whole batch, and the slow deployment rate before the construction of the whole farm infrastructure of the rest and arriving devices provides another motivation.

If you plan to sell your units, you might look at competition. Avalon priced 2nd batch units at 56 BTC per 65 GHs, and 3rd batch units at 100 BTC per 85 GHs.

Let me guess... you want to buy an asic and probably arent a shareholder right?

[DutchBrat]

Seeing as there are problems with installing the asics for own mining purposes it makes a lot of sense to start selling mining devices.

With the last Avalon batch being priced really high and seeing that BFL can't seem to get their chips working any time soon there will be a window of opportunity where selling the asics is mor eprofitable than mining with them.... especially if it takes a long time to get any of them hashing any time soon.

My vote would be: sell the 50TH as soon as it comes in.... and be prepared to add hashing power to our own farm when the new chips arrive. Mark up the asics for sale substantially... they will fly out of the door at inflated prices anyway

Win win for everyone

[phr33]

Thanks for the update. Just out of curiosity, who will the shareholders benefit from the sold ASICs? An equal proportion of earnings minus costs?

[burnside]

newbie question: if i want to buy some shares i see both bitfunder and btctco got them, any ups and down to buying on either? or anywhere else?

what happens if one of the exchanges pull a quick one and disappear, do i still have the stocks linked to my btc address or email?

sorry if this has been answered already.

The shares on the exchanges are passthroughs, so if you buy them you dont have a contract with asicminer, but with the owner of the passthrough. And this owner has a contract with asicminer. Till now i only know that deadterras Passthrough allows it that you can change the pt-shares into real shares once you have 240shares. (or around that number) The thread linked is for selling real asicminer shares.

https://btct.co/security/ASICMINER-PT

- Free transfers in and out with NO MINIMUM share requirement.
- Lower per-transaction fees than the competition.
- Documented dead man's switch (view btct.co/faq while logged in) that works 100% because of how btct.co shares asset lists with it's issuers.  All my co-workers have to do is forward friedcat the latest list that comes into my email.

Hope that helps!

[Syloq]

Burnside, please stop spamming the AM thread. I don't buy merchandise from email spammers and support them, and I will not be supporting forum spammers either. You have a thread, post it in.

[SebastianJu]

With the last Avalon batch being priced really high and seeing that BFL can't seem to get their chips working any time soon there will be a window of opportunity where selling the asics is mor eprofitable than mining with them.... especially if it takes a long time to get any of them hashing any time soon.

This! Asicminer has the opportunity that they have the miners already available and proof that it works. I think once the auction starts the machine is created already and can be shipped fast. Thats a big opportunity against all competitors. I was ordering an asic from avalon in the last days and its open when it comes to me and how long it takes to get the investment back. That would be really different with asicminer leading to better selling price. Though i wouldnt be one that can afford to buy...

https://btct.co/security/ASICMINER-PT

- Free transfers in and out with NO MINIMUM share requirement.
- Lower per-transaction fees than the competition.
- Documented dead man's switch (view btct.co/faq while logged in) that works 100% because of how btct.co shares asset lists with it's issuers.  All my co-workers have to do is forward friedcat the latest list that comes into my email.

Sounds good with no minimum requirement. In this case the order thread doesnt really has to be revived. It died because someone didnt play by the rules and didnt announce that he has a buyer nor didnt kill his offer at that moment.

@Syloq... i think he clarified only that its possible without minimum to buy real shares there. Thats important now as the orderbook thread is dead.

[burnside]

Burnside, please stop spamming the AM thread. I don't buy merchandise from email spammers and support them, and I will not be supporting forum spammers either. You have a thread, post it in.

I respond to questions or misconceptions.

I'm not interested in spamming anything.  Making sure things are clear however, would seem to be somewhat important.


edited for politeness.

[deadweasel]

Burnside, please stop spamming the AM thread. I don't buy merchandise from email spammers and support them, and I will not be supporting forum spammers either. You have a thread, post it in.

He answered a question in the thread about btct.  Why are you so ornery?

[creativex]

Burnside, please stop spamming the AM thread. I don't buy merchandise from email spammers and support them, and I will not be supporting forum spammers either. You have a thread, post it in.

He answered a question in the thread about btct.  Why are you so ornery?

+1

With the huge investment opportunity that ASICMiner continues to represent, we need as much liquidity as possible, and the exchange PT shares are certainly providing that.

Interesting news, thanks for the update friedcat.

[Tachikoma]

newbie question: if i want to buy some shares i see both bitfunder and btctco got them, any ups and down to buying on either? or anywhere else?
what happens if one of the exchanges pull a quick one and disappear, do i still have the stocks linked to my btc address or email?

What in Burnside's advertisement gives a clear answer to this question? It is highly misleading, and very much a spam advertisement.
It starts with a link to his site, followed by sales pitches, all of which not asked for, and ends with a misleading statement that does not answer the original question.

Penta,
The answer is no. Without relying on an unknown third party your information is not held by friedcat where it would be the only method of claim should the operator dissapear or run off with them to another country like Panama. All shares are in his name, regardless of any list.

Also, SebastianJu has already answered this with a reasonably satisfactory answer, even if not as clear.
https://bitcointalk.org/index.php?topic=99497.msg1692524#msg1692524