ASICMINER: Entering the Future of ASIC Mining by Inventing It

[🏰 TradeFortress 🏰]

This whole 51% attack fear seems way overblown to me though.  In order for one to succeed would you not need to convince someone to accept a zero-confirmations transaction, seconds after the attack was made?  And then, run out of there like a bat out of hell?

No. A majority attack allows the attacker to recover his coins that were sent out and confirmed by multiple blocks.

But it needs also luck. 51% of hashrate is not enough to succesfully create longer blockchain.

Over a long enough period of time it will.

It's like playing in a casino game with positive EV. Sure, with variance sometimes you might lose, but over time you will win more.

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[mrb]

But it needs also luck. 51% of hashrate is not enough to succesfully create longer blockchain.

At less than 50% you need luck, but at more than 50% it is guaranteed you will eventually overrun the blockchain. See graph on page 8 of https://bitcoil.co.il/Doublespend.pdf Currently, friedcat, with 10% of the network hashrate, has a 1 in 1000 chance of succeeding in a double spend, even if the recipient waits for 6 confirmations.

[gmouse]

Casinos have at worst a 51% attack on your money.  Heh.  But, in a practical world, what kind of double-spend scare does AM need to soothe the world perception from?  My suspicion is that BFL is a total fail, and that AM needs to deploy right up to whatever the world deems safe, then sell hardware units, if there are any left over.  How close to total hash power is too much for the health of BTC and AM?

[John (John K.)]

Any estimate for this week's divs? 

[SmiGueL]

Any estimate for this week's divs?  

Last week:
Mined profits: ~0.008 BTC/share https://bitcointalk.org/index.php?topic=99497.msg1732786#msg1732786
Without unusual costs: ~0.0055 BTC/share? https://bitcointalk.org/index.php?topic=99497.msg1732538#msg1732538
Paid: 0.00255553 BTC/share

This week prediction:
Mined profits: ~0.008 BTC/share (Higher hashrate, but also increased difficulty)
So I expect about the same dividends as last week (Friedcat said that it would be 'a little lower' , but because the bitcoin price exploded less coins have to be sold to pay for the costs.)

We really need those 50 TH/s!

[irritant]

Any estimate for this week's divs?  

Last week:
Mined profits: ~0.008 BTC/share https://bitcointalk.org/index.php?topic=99497.msg1732786#msg1732786
Without unusual costs: 0.0055 BTC/share https://bitcointalk.org/index.php?topic=99497.msg1732538#msg1732538
Paid: 0.00255553 BTC/share

This week prediction:
Mined profits: ~0.008 BTC/share (Higher hashrate, but also increased difficulty)
So I expect about the same as last week (Friedcat said that it would be 'a little lower' , but because the bitcoin price exploded less coins have to be sold to pay for this.)

We really need those 50 TH/s!

you're forgetting they invested in hardware, and this week a little bit for the electricity bill so will be less (but not as much less), expecting a bit more tbh when taking that into account

[JimiQ84]

anyone got their satoshis already? :-)

[Rodyland]

anyone got their satoshis already? :-)

Not yet, although last week's were sent at about 15:00 UTC on Wednesday.  Another 4 or 5 hours, DST conversions notwithstanding.

[SmiGueL]

anyone got their satoshis already? :-)

All of them!

[237]

Satoshis are in. Here we go 

[JordanL]

Happy div day folks.   

[Franktank]

Happy div day folks.    

I do want to remind everyone that friedcat said last week that a portion of this weeks dividends would also be used for the incoming 200 TH/s. More curious about the update than the dividend.

[JordanL]

Happy div day folks.    

I do want to remind everyone that friedcat said last week that a portion of this weeks dividends would also be used for the incoming 200 TH/s. More curious about the update than the dividend.

I hope he spends all of it if it means getting more hash power online sooner. Hopefully tomorrow's update will have something of a timeline for overcoming the current barriers that are preventing us from getting to 12.

[Franktank]

Happy div day folks.    

I do want to remind everyone that friedcat said last week that a portion of this weeks dividends would also be used for the incoming 200 TH/s. More curious about the update than the dividend.

I hope he spends all of it if it means getting more hash power online sooner. Hopefully tomorrow's update will have something of a timeline for overcoming the current barriers that are preventing us from getting to 12.

Totally with you on this one. Hell, I'll even take no dividends for the rest of April if that meant getting the 262 TH/s online by May. Unlikely but one can hope.

[talnted]

Happy div day folks.    

I do want to remind everyone that friedcat said last week that a portion of this weeks dividends would also be used for the incoming 200 TH/s. More curious about the update than the dividend.

I hope he spends all of it if it means getting more hash power online sooner. Hopefully tomorrow's update will have something of a timeline for overcoming the current barriers that are preventing us from getting to 12.

Totally with you on this one. Hell, I'll even take no dividends for the rest of April if that meant getting the 262 TH/s online by May. Unlikely but one can hope.

Im with you on that!

[JordanL]

Happy div day folks.    

I do want to remind everyone that friedcat said last week that a portion of this weeks dividends would also be used for the incoming 200 TH/s. More curious about the update than the dividend.

I hope he spends all of it if it means getting more hash power online sooner. Hopefully tomorrow's update will have something of a timeline for overcoming the current barriers that are preventing us from getting to 12.

Totally with you on this one. Hell, I'll even take no dividends for the rest of April if that meant getting the 262 TH/s online by May. Unlikely but one can hope.

For 262 TH/s by May... you could throw in my first born.   

[Ozymandias]

Happy div day folks.    

I do want to remind everyone that friedcat said last week that a portion of this weeks dividends would also be used for the incoming 200 TH/s. More curious about the update than the dividend.

I hope he spends all of it if it means getting more hash power online sooner. Hopefully tomorrow's update will have something of a timeline for overcoming the current barriers that are preventing us from getting to 12.

Totally with you on this one. Hell, I'll even take no dividends for the rest of April if that meant getting the 262 TH/s online by May. Unlikely but one can hope.

For 262 TH/s by May... you could throw in my first born.   

While I would love ASICminer to up their hashing, >70% of then network hashrate would probably be something to avoid. I definitely wouldn't complain if we saw our 12 TH/s achieved next week though!

[teek]

Happy div day folks.    

I do want to remind everyone that friedcat said last week that a portion of this weeks dividends would also be used for the incoming 200 TH/s. More curious about the update than the dividend.

Pretty sure he meant those big expenses came out of the last 2 weeks..  i think this week is expected to be a "full"  could be wrong..

[Franktank]

The order of wafers and devices are not so much. What costs the largest part of money is the NRE of a full-mask set. We chose to do MLM from the start to reduce the NRE cost and hence the total money we need to raise during IPO, but the much higher margin cost and the refusal of the fab to produce any more with the MLM set resulted in the decision to do the full-mask. Because after it's done. The cost of each wafer will reduce by ~33% and the quantity limitation from the fab will be removed.

The next week will be a little lower because we still have some balance payments undone yet, but the largest cost will only be the electricity.

This was what I was referring to but I could have misinterpreted that.

[teek]

They just hit ... 0.00695565