ASICMINER: Entering the Future of ASIC Mining by Inventing It

[lophie]

Doesn't people get high stales and orphans from p2pool?

Used to. Not as much anymore. But some people around here claim to be still bad though. But is it worse than solo?

[penta]

Just imagine all the share holders pointing at your pool even if it requires higher fees just to get the chances of us getting a block more probable.  

talk about incentive   

No, it's not the business range of ASICMINER.

Also, public pool is an attract of both cyber and social attack which we would not like to be involved in.

What we will provide is transparency. We would not accept outside hashpowers.

this is good news.
i dont think there will be anymore of a transparency issue than there is already, if asicminer want to screw over the shareholders they could already by directing some of their hardware to other pools/solo. so it dosnt really change much as long as they report their solo mining numbers.

[nebulus]

+1 on p2pool

[talnted]

So ASICMINER don't have secondary pool in case 1st pool went offline . Isn't that like.... easy to setup or something?

We are switching to solo mode since we could not find enough pools having stable connection from China to distribute the hashpower.

The solo solution is being tested/done along with the deployment. The only problem is transparency. We plan to do it with writing information to the coinbase transaction to let everyone check.

You should consider p2pool instead of solo. Your traffic stays local like solo, but your variance is decreased like it would be on a pool.

+1, and increase the income by using this https://bitcointalk.org/index.php?topic=62842.0

Not suggesting we actually invest in alt-coins (Although it wouldn't be a bad idea), Just suggesting collecting them and selling them daily on vircurex or something.

So we merge mine with these asics for alt currencies and then dump them on exchanges? Do you realize how fast the value will fall for these alt currencies doing this? It will quickly become worthless.  I cant imagine this is the direction ASICminer will go.

[John (John K.)]

So ASICMINER don't have secondary pool in case 1st pool went offline . Isn't that like.... easy to setup or something?

We are switching to solo mode since we could not find enough pools having stable connection from China to distribute the hashpower.

The solo solution is being tested/done along with the deployment. The only problem is transparency. We plan to do it with writing information to the coinbase transaction to let everyone check.

You should consider p2pool instead of solo. Your traffic stays local like solo, but your variance is decreased like it would be on a pool.

+1, and increase the income by using this https://bitcointalk.org/index.php?topic=62842.0

Not suggesting we actually invest in alt-coins (Although it wouldn't be a bad idea), Just suggesting collecting them and selling them daily on vircurex or something.

So we merge mine with these asics for alt currencies and then dump them on exchanges? Do you realize how fast the value will fall for these alt currencies doing this? It will quickly become worthless.  I cant imagine this is the direction ASICminer will go.

Well, Bitcoins on general will not be affected at all I guess, (and probably be bolstered)  so I don't think it'll be worthless as the alts are only piggybacked during the mining if I'm not wrong.

[2weiX]

So ASICMINER don't have secondary pool in case 1st pool went offline . Isn't that like.... easy to setup or something?

We are switching to solo mode since we could not find enough pools having stable connection from China to distribute the hashpower.

The solo solution is being tested/done along with the deployment. The only problem is transparency. We plan to do it with writing information to the coinbase transaction to let everyone check.

You should consider p2pool instead of solo. Your traffic stays local like solo, but your variance is decreased like it would be on a pool.

+1, and increase the income by using this https://bitcointalk.org/index.php?topic=62842.0

Not suggesting we actually invest in alt-coins (Although it wouldn't be a bad idea), Just suggesting collecting them and selling them daily on vircurex or something.

So we merge mine with these asics for alt currencies and then dump them on exchanges? Do you realize how fast the value will fall for these alt currencies doing this? It will quickly become worthless.  I cant imagine this is the direction ASICminer will go.

Well, Bitcoins on general will not be affected at all I guess, (and probably be bolstered)  so I don't think it'll be worthless as the alts are only piggybacked during the mining if I'm not wrong.

seems like the sensible thing to do.
also bolsters these alts against being 51'd

[237]

If you merge mine for example NMC today with 20% haspower of the BTC network, you would get around 3.6k a day.

That's about 1.5% of the daily NMC trading volume at the moment... So i don't think it would "destroy" the price of
the coin or anything. But You would get an extra 30 BTC or so

[John (John K.)]

True, and we're also helping the alts along. (and making some coins too  )

[lophie]

You can always just disperse them as dividends  

Just thought about it... too complicated for other shareholders.....

[mrb]

You should consider p2pool instead of solo. Your traffic stays local like solo, but your variance is decreased like it would be on a pool.

Come on Diablo, with 8 Th/s, variance is a non-issue. They mine 500+ blocks per month on average. They have more chances of being hit by thunder 10 times than to mine zero blocks during a specific month and being unable to cover their monthly expenditures.

p2pool leads to a higher orphan rate than solo mining.

Solo mining is obviously the best choice with 8 Th/s.

[organofcorti]

You should consider p2pool instead of solo. Your traffic stays local like solo, but your variance is decreased like it would be on a pool.

Come on Diablo, with 8 Th/s, variance is a non-issue. They mine 500+ blocks per month on average. They have more chances of being hit by thunder 10 times than to mine zero blocks during a specific month and being unable to cover their monthly expenditures.

Variance will only remain a non-issue if they keep adding hashrate so that they remain at a constant proportion (or increased proportion) of the network. As soon as the their proportion decreases, variance will increase.

[mrb]

Variance will only remain a non-issue if they keep adding hashrate so that they remain at a constant proportion (or increased proportion) of the network. As soon as the their proportion decreases, variance will increase.

friedcat estimates he will average 10% of the network over the next 12 months. If that is true, variance will not be an issue in the next 12 months.

[organofcorti]

Variance will only remain a non-issue if they keep adding hashrate so that they remain at a constant proportion (or increased proportion) of the network. As soon as the their proportion decreases, variance will increase.

friedcat estimates he will average 10% of the network over the next 12 months. If that is true, variance will not be an issue in the next 12 months.

you both more or less said the same thing,

Yes indeed. I said it first though, so kudos to me

[VeeMiner]

You should consider p2pool instead of solo. Your traffic stays local like solo, but your variance is decreased like it would be on a pool.

Come on Diablo, with 8 Th/s, variance is a non-issue. They mine 500+ blocks per month on average. They have more chances of being hit by thunder 10 times than to mine zero blocks during a specific month and being unable to cover their monthly expenditures.

p2pool leads to a higher orphan rate than solo mining.

Solo mining is obviously the best choice with 8 Th/s.

I totally agree with this. Solo is definitely the best option for ASICMINER and it's shareholders. Please don't go into experiments like p2p pool

[Mausini]

You should consider p2pool instead of solo. Your traffic stays local like solo, but your variance is decreased like it would be on a pool.

Come on Diablo, with 8 Th/s, variance is a non-issue. They mine 500+ blocks per month on average. They have more chances of being hit by thunder 10 times than to mine zero blocks during a specific month and being unable to cover their monthly expenditures.

Variance will only remain a non-issue if they keep adding hashrate so that they remain at a constant proportion (or increased proportion) of the network. As soon as the their proportion decreases, variance will increase.

If network percentage drops joining a pool is a non-issue again...

[organofcorti]

Since we're still on the topic, if ASICMiner is at 10% of the network, then the 95% confidence interval for daily earnings will be 175btc to 525btc daily and 2050btc to 2950btc weekly (while the block reward is 25btc per block).

[SebastianJu]

Check out this latest change to 0.8.2:
https://github.com/bitcoin/bitcoin/pull/2577

This pull defines 'uneconomic dust' as 54.3 uBTC (5430 satoshis, about $0.007 at current prices), and treats any transaction with outputs less than 5430 satoshis as non-standard (won't be relayed, won't be mined). 5430 satoshis is derived from the cost (in fees) to spend a TxOut/TxIn. See https://people.xiph.org/~greg/txouts2.png for proportion of recent outputs this will (eventually) affect.

Will this make the initial Satoshis sent on dividends no longer relay/get mined?

I believe this only means that the border where one has to pay a minimum fee was set down from 0.01 to 0.00005430. Im not sure about this, but it sounds this way.

Variance will only remain a non-issue if they keep adding hashrate so that they remain at a constant proportion (or increased proportion) of the network. As soon as the their proportion decreases, variance will increase.

But will it matter? You have the chance to earn more or less in a week, but mostly its an average. Because it is more or less you wont lose anything in the long run. Of course you can earn less in the first week and more in the next week when the difficulty raised but it can be the opposite way too, so i dont see that this is a big problem.

What i wonder is if this ip is attackable then. It would be good to have some more ips to chose from or a pool to switch too in case of an attack.

The transparency isnt a problem for me too because we have to trust friedcat and co anyway. We would not be able to see if they throw some hashpower to another pool or solo mine. The numbers shown at a pool are in no way safer than solomining. And if its about the general hashingpower... i wonder if it would be hard to make a website that is showing the complete asicminer-datacenter-hashrate. I mean in the datacentre theres probably a software that has a overview about all the blades to see if one is failing. So this software probably has the hashrates too. It wouldnt be a border to implement this into a website then.

Only saying...

[lan787]

But will it matter? You have the chance to earn more or less in a week, but mostly its an average. Because it is more or less you wont lose anything in the long run. Of course you can earn less in the first week and more in the next week when the difficulty raised but it can be the opposite way too, so i dont see that this is a big problem.

It matters for someone. Consider your employer pays you either $200 or $300 this week depending on pure luck. Somebody would not take that risk(for ex. he has a loan to pay). Risk alleviating instruments cost real money.

[Rodyland]

But will it matter? You have the chance to earn more or less in a week, but mostly its an average. Because it is more or less you wont lose anything in the long run. Of course you can earn less in the first week and more in the next week when the difficulty raised but it can be the opposite way too, so i dont see that this is a big problem.

It matters for someone. Consider your employer pays you either $200 or $300 this week depending on pure luck. Somebody would not take that risk(for ex. he has a loan to pay). Risk alleviating instruments cost real money.

No (responsible) company in the world guarantees dividends.  They may try to always pay the same (or even an increasing) amount, but a guarantee - to me that would be a sign of management with their head in the clouds.

As investors and owners, we bear some risk.  If we can average a few percent higher net profit, at the cost of a little bit higher week-to-week volatility, then as long as that volatility doesn't put at risk the company's ability to pay its bills as they come due, I say do it.

[Mccanical]

Solo mining seems like a no brainer to me. Might be more/less than the average each week but at least we're not relying on any pool to handle our bitcoins for a percentage.