ASICMINER: Entering the Future of ASIC Mining by Inventing It

[arklan]

I don't know guys... 1.99 per piece seems like too much to me. If it were auction, than I would understand, but fixed price... I don't see the demand for 10 000 usb miner at 1.99 BTC

agreed. as i posted in my group buy thread:

minimum order of 300 x 1.99 btc = 597 btc exactly. ...wow. that's insane, when you realize avalon sells 10,000 chips (33 times more chips, but bare chips) for 780 btc.

i mean, that's what, .078 btc a chip? and then you have burnin offering 10 chip board for approx 80 euro, and 20 chip boards for approx 100 euro (plus chip cost of course) that's approximately 5 ghash for under 200 USD, if my math is right.

The major difference is that this is a finished product . Sure, you can buy a barrel of oil for around $2 per gallon if you order in bulk, but still even US people buy gas for $4 per gallon. The convenience of buying just what you need rather than have a supertanker on your doorstep, the complete conversion of the raw material into a ready-to-use plug-and-play product, the reduced risk of not having to handle large orders; consumers love the ability to avoid such hassles.

Add to that the mere psychological effect of being part of a movement, and I think these miners will be an easy sell, even at the added cost that a bulk buyer would have to charge consumers.

Just imagine having a shelf of "Real moneymaking machines, just $297" at Wallmart.

.b

...well, yea. all very good points.

[JimiQ84]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Also, what about the NMC proceeds? Will those be changed to btcs on, let's say, btc-e?

[ineededausername]

Bitfountain mentioned in CCTV report!

http://tv.cntv.cn/video/C10329/e5ee4fe9a62b4b24b1080327faaafcb7

This is as accurate a translation as I can get for that section:

On the biggest mining pool in the Bitcoin community [BTCGuild], one miner, with ID 67717, has been at the top of the hashrate rankings for a while.  "Oh, that guy is called friedcat, and he runs a company in Shenzhen," [says a Chinese Bitcoiner.]  "This 67717 account is the fastest miner in the world."  Although there are only 4 people in [friedcat's] company, it is making 286,000 renminbi a day.  Not only miners have benefitted from the Bitcoin boom.  The mining hardware manufacturers, too, have become centimillionaires [in CNY]. 

[gog1]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Also, what about the NMC proceeds? Will those be changed to btcs on, let's say, btc-e?

bitminter is a low fee merged mine PPLNS pool, on paper looks good, but somehow, their 'luck' is extremely rotten - just check the income section and look at CDF.  Check the luck and reward section too.

What's the deployment target?

[matt4054]

bitminter is a low fee merged mine PPLNS pool, on paper looks good, but somehow, their 'luck' is extremely rotten - just check the income section and look at CDF.  Check the luck and reward section too.

And check the last pages of this thread too

[gog1]

bitminter is a low fee merged mine PPLNS pool, on paper looks good, but somehow, their 'luck' is extremely rotten - just check the income section and look at CDF.  Check the luck and reward section too.

And check the last pages of this thread too

Didn't have the data to do the match yet, but I doubt the rotten luck is explained by probabilities alone, likely a bug somewhere.

Probably have to seek alternate pool, bitparking used to be good but not reliable anymore.  Anyone with good suggestions?

[JimiQ84]

bitminter is a low fee merged mine PPLNS pool, on paper looks good, but somehow, their 'luck' is extremely rotten - just check the income section and look at CDF.  Check the luck and reward section too.

And check the last pages of this thread too

Didn't have the data to do the match yet, but I doubt the rotten luck is explained by probabilities alone, likely a bug somewhere.

Probably have to seek alternate pool, bitparking used to be good but not reliable anymore.  Anyone with good suggestions?

this is only temporary, as friedcat have written, they are testing and switching to solo mining

[vortex1878]

bitminter is a low fee merged mine PPLNS pool, on paper looks good, but somehow, their 'luck' is extremely rotten - just check the income section and look at CDF.  Check the luck and reward section too.

And check the last pages of this thread too

Didn't have the data to do the match yet, but I doubt the rotten luck is explained by probabilities alone, likely a bug somewhere.

Probably have to seek alternate pool, bitparking used to be good but not reliable anymore.  Anyone with good suggestions?

I have very good experience with Slush's Pool.

[DrHaribo]

bitminter is a low fee merged mine PPLNS pool, on paper looks good, but somehow, their 'luck' is extremely rotten - just check the income section and look at CDF.  Check the luck and reward section too.

And check the last pages of this thread too

The rewards graph shows the last 500 shifts, that's currently the last 16 days. First 8 days are about average, some lucky, some not, and the last 3 were pretty unlucky. Now people are saying we didn't have one lucky day for an entire year.

Didn't have the data to do the match yet, but I doubt the rotten luck is explained by probabilities alone, likely a bug somewhere.

If you actually have a reason to believe something is wrong, please let me know what leads you to believe that.

When there is some good luck "BitMinter is a very profitable place to mine" and when there is some bad luck "there must be a bug causing that". I've heard both of those a few times before.

[matt4054]

The rewards graph shows the last 500 shifts, that's currently the last 16 days. First 8 days are about average, some lucky, some not, and the last 3 were pretty unlucky. Now people are saying we didn't have one lucky day for an entire year.

Wouldn't it be possible to extend the time axis to a whole year? I guess it would pretty much dismiss all possible FUD attempts. Using sampled data may help with graphing performance, but I suppose it's not that easy to do.

When there is some good luck "BitMinter is a very profitable place to mine" and when there is some bad luck "there must be a bug causing that". I've heard both of those a few times before.

If it's just that then it's all well. As far as I am concerned, I'm not saying there is any bug, I just asked a question on the other thread to ask more experienced BitMinters if they had seen it in the past or not, and how long we should expect before catching up with expected rewards.

PS: this is off-topic and should be discussed on the other thread I think

[gmouse]

Another 1.5T online, temporarily allocated on bitminter. Will switch to solo later on.

Also, what about the NMC proceeds? Will those be changed to btcs on, let's say, btc-e?

Good question.  If AM is mining in a pool that multi-mines other alt-coins, or solo mines, we may as well take advantage of that.  If they get paid out to shareholders, then each shareholder would need to give friedcat a payout address for  the other coins though, and that might be an unwelcome headache for him.

However,if AM does get the alt-coins though, and does convert them to BTC, it would be nice to get the official reply about that...

[matt4054]

About the NMC, if ASICMINER exchanges it on BTC-e, it should make it in a way that does not make the exchange rate sink down. The market for NMC is really shallow compared to BTC.

Besides, BTC-e is not the only NMC exchange, Vircurex and Cryptonit also exchange NMC <-> BTC

[helixone]

About the NMC, if ASICMINER exchanges it on BTC-e, it should make it in a way that does not make the exchange rate sink down. The market for NMC is really shallow compared to BTC.

Besides, BTC-e is not the only NMC exchange, Vircurex and Cryptonit also exchange NMC <-> BTC

Folks, my sense here, is that even if he could get this to work, Friedcat would be mis-utilizing his time and energy to pursue this, as he is pressed to capacity hiring solid people, doing accounting and transfers, working on building out datacenters, sourcing parts, running a mining operation, running auctions, and generally overseeing production of a crap ton of boards and usb sticks.

Let's keep focused on the big picture here. At the scale AM operates this is a waste of time.

-helixone

[radiumsoup]

Let's keep focused on the big picture here. At the scale AM operates this is a waste of time.

-helixone

couldn't have put it any better. If they don't all sell, the price will drop. If they all sell (and, I have a hunch that they will,) then the price was, in fact, right. It's not worth friedcat's time to worry about individually shipping these things out, or about making sure he hits the market pricing exactly right at all times. Bulk orders will move money, and that's all that matters at this point.

[gmouse]

Let's keep focused on the big picture here. At the scale AM operates this is a waste of time.

-helixone

couldn't have put it any better. If they don't all sell, the price will drop. If they all sell (and, I have a hunch that they will,) then the price was, in fact, right. It's not worth friedcat's time to worry about individually shipping these things out, or about making sure he hits the market pricing exactly right at all times. Bulk orders will move money, and that's all that matters at this point.

I thought the question was about the potential for mining altcoins like NMC.  I am confused by this reply, as it seems to be in regard to something else.

[lophie]

I don't get it guys. Why not just generate an address and enable merged mining on the pool account setting that would not take time at all. Then "consider" what to do with the NMC later when Friedcat have time.

Everyone claiming this to be a hassle. The hassle is when you are selling the coins. Not when you mine them. Especially since merge mining is happening at pool level so there is no need to maintain an NMC full node.

[kokojie]

About the NMC, if ASICMINER exchanges it on BTC-e, it should make it in a way that does not make the exchange rate sink down. The market for NMC is really shallow compared to BTC.

Besides, BTC-e is not the only NMC exchange, Vircurex and Cryptonit also exchange NMC <-> BTC

He don't even have to sell on BTC-E. I'll take any amount of NMC at 20% discount to BTC-E market price, and handle the selling. Share holder still get extra income, and friedcat only has to spend 30 seconds to send NMC to me.

[DrHaribo]

Let's keep focused on the big picture here. At the scale AM operates this is a waste of time.

I wouldn't call namecoins a waste of time when they give you more than 8% extra income. Especially at this scale 8% is a lot of money.

I'm not saying it will stay that way forever, but that's where namecoin income is today.

[radiumsoup]

I thought the question was about the potential for mining altcoins like NMC.  I am confused by this reply, as it seems to be in regard to something else.

lol, yup... was reading two threads simultaneously, got them mixed up during the reply. Oh, well.

[matt4054]

He don't even have to sell on BTC-E. I'll take any amount of NMC at 20% discount to BTC-E market price, and handle the selling. Share holder still get extra income, and friedcat only has to spend 30 seconds to send NMC to me.

Seems fair enough. However, anyone will do it for just X% discount, where 20 > X > reasonable exchange fee, I guess.