ASICMINER: Entering the Future of ASIC Mining by Inventing It

[lophie]

Guys......

check this post https://bitcointalk.org/index.php?topic=194803.0

Leading you to this video http://tv.cntv.cn/video/C10329/e5ee4fe9a62b4b24b1080327faaafcb7

Now check exactly the time 6:15

He is talking about ASICMINER? So we are not discrete anymore!!! We are in the middle of the bull's eye radar!!

What will happen and what could that do to us? Sell Sell or Buy Buy  

Just saw more of the video... there is a pic of Avalon  ASIC as well!

And is that you Friedcat? 

[BlackLilac Grant]

The Block Erupter USB sticks passed all the tests and we are about to produce them in quantity.

"In quantity". I like those words.

Very many ideas thrown around here for the auction of these (possibly good, but experimental and possibly confusing to customers).

So let me throw in an idea too: fixed price 2 BTC, first come first served! Much more manageable, affordable and relatable. And a price/hash a little above what the Blades have been getting.

Works for me, I'm first in line and I will buy them all (to auction later).   

So, should that be considered a binding offer?

Anyway, I think there are more than enough people willing to pay that price. (Even though there are apparently many people also not willing to pay that price.)

Well the only other off the shelf ready to go equipment is a GPU. So $150 for a GPU or $200 for an ASIC.

Also you can hope BFL ships in the next 6 months, or go make your own ASIC...

I'm sure people are sad they are not being sold at less than market price but meh. We should just mine with them if no one wants to pay a fair price.

Thanks.

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.

Yes, but these are real products, made and ready to ship. I can use one of these right away. What would I do with a avalon chip? it would take me 10 years to figure out how to do anything.

I agree totally with Goat here. 10,000 will sell for 1.9 BTC as fast as we can ship them. I'm sure everyone wishes they were $50 so they could make a huge profit right away, but that would make no sense for ASICMINER, and it's not how markets work. Those who think they are overpriced can stick to GPU mining or throw more money at BFL and hope they get something before the 21 millionth coin is mined.   

[kano]

...
I agree totally with Goat here. 10,000 will sell for 1.9 BTC as fast as we can ship them. I'm sure everyone wishes they were $50 so they could make a huge profit right away, but that would make no sense for ASICMINER, and it's not how markets work. Those who think they are overpriced can stick to GPU mining or throw more money at BFL and hope they get something before the 21 millionth coin is mined.   

Now sure where that "huge profit" comes from.
Each one would make ~$1.50 a day at BTC = $100 and difficulty = 10million

[ineededausername]

I am hoping we switch to solo-mining soon.  Both pools have suffered downtime issues today, including DDoS attacks, and, in Bitminter's case, pure server overload from the additional ASICMINER power.  This results in a great deal of lost profits.

Of course, we're getting healthy dividends as is, but we are 20% of the network now and it's time to move

[arklan]

no sign of friedcat at all today? i'm surprised. given the announcement of the USB miners, that is.

[Transisto]

no sign of friedcat at all today? i'm surprised. given the announcement of the USB miners, that is.

He posted ~2hrs ago.

What I'm more interested in is the status of the 55ths roll-out.

[arklan]

no sign of friedcat at all today? i'm surprised. given the announcement of the USB miners, that is.

He posted ~2hrs ago.

What I'm more interested in is the status of the 55ths roll-out.

oh, did he? my bad. i'm more tired then i think...

[lophie]

Guys......

check this post https://bitcointalk.org/index.php?topic=194803.0

Leading you to this video http://tv.cntv.cn/video/C10329/e5ee4fe9a62b4b24b1080327faaafcb7

Now check exactly the time 6:15

He is talking about ASICMINER? So we are not discrete anymore!!! We are in the middle of the bull's eye radar!!

What will happen and what could that do to us? Sell Sell or Buy Buy  

Just saw more of the video... there is a pic of Avalon  ASIC as well!

And is that you Friedcat? 

Really guys? totally ignored?

Alot of people kept on rambling about what if a raid happened or a bunch of ungodly people ransacked ASICMINER, Also rambling about how ASICMINER is big enough to ought to solo mine in discrete and blah.

A half an hour news report in Chinese about Bitcoin mentioning "ASICMINER Account at BTCGuild" doesn't stir any comments? at all?

[stripykitteh]

I'm relatively new to Bitcointalk and very new to ASICMINER. I'm here because the research I've done (nowhere near as much as many of you but enough to convince me) suggests that ASICMINER, if it isn't already, is likely to be the 800-pound gorilla of Bitcoin mining, in the sense that this guy http://www.geoffreyamoore.com/books-by-geoffrey-moore/ was talking about a few years ago.

I'm not an economist but one thing that has me intrigued is, as ASICMINER is valued (and I know its market value doesn't have to match its intrinsic value) in Bitcoin it is roughly 4% of the market cap of Bitcoin itself. If enough people agree however that ASICMINER is worth far more, how can that work? It can't be worth more than 100% of Bitcoin surely; that would be illogical, as Mr Spock would say.

So if a lot of other people see it as a gorilla and want to be a part of it, could the following happen?

• More people buy ASICMINER products, 'pump priming' the Bitcoin economy
• More people buy btc to invest in ASICMINER
• More transactions generated cause rewards for mining to increase
• More people are aware of Bitcoin and as they are using it they become comfortable using it and find other things to use it for
• The whole thing draws more people in and snowballs so that people who don't know anything about mining use Bitcoin the same way that they use Facebook or eBay today.

It's like a bootstrapped universe. People doing something with a small economic purpose in its own right (mining) end up attracting a flood of other users, until the 'universe' becomes large.

I guess what I'm saying is that over time, the market price of ASICMINER (denominated in btc) as a result will reach some equilibrium point, even as there is a flurry of activity in Bitcoin in general, but the price of btc to fiat will have to rise as a result to reflect the rising value of ASICMINER, assuming that it stays as the gorilla.

Feel free to give me a lesson on this, I would welcome one of you who's thought about this for longer than I have to tell me if I'm wrong.

[JimiQ84]

Really guys? totally ignored?

Alot of people kept on rambling about what if a raid happened or a bunch of ungodly people ransacked ASICMINER, Also rambling about how ASICMINER is big enough to ought to solo mine in discrete and blah.

A half an hour news report in Chinese about Bitcoin mentioning "ASICMINER Account at BTCGuild" doesn't stir any comments? at all?

I guess we just don't understand the language (is it mandarine?) :-) For all I know they could be saying "let's attack user 67117, it has the biggest hashrate"

[VeeMiner]

Really guys? totally ignored?

Alot of people kept on rambling about what if a raid happened or a bunch of ungodly people ransacked ASICMINER, Also rambling about how ASICMINER is big enough to ought to solo mine in discrete and blah.

A half an hour news report in Chinese about Bitcoin mentioning "ASICMINER Account at BTCGuild" doesn't stir any comments? at all?

I guess that you can't really keep an operation of this scale secret... What would you want to do about it?

[Mausini]

BTC Guild at 14.5
Bitminter At 3.1

rising and rising...

[romantic1]

This week, 10 shares = 0.0735415 BTC. Is it correct ?

[furuknap]

This week, 10 shares = 0.0735415 BTC. Is it correct ?

Nobody knows until Wednesday.

.b

[stripykitteh]

Really guys? totally ignored?

Alot of people kept on rambling about what if a raid happened or a bunch of ungodly people ransacked ASICMINER, Also rambling about how ASICMINER is big enough to ought to solo mine in discrete and blah.

A half an hour news report in Chinese about Bitcoin mentioning "ASICMINER Account at BTCGuild" doesn't stir any comments? at all?

I guess that you can't really keep an operation of this scale secret... What would you want to do about it?

Yes, ASICMINER won't remain obscure for much longer, regardless of what any individual wishes.

[stripykitteh]

Yes, ASICMINER won't remain obscure for much longer, regardless of what any individual wishes.

I also was thinking that barring a miracle BFL will fall over in the next few months. Even if they do start to ship for real they appear to be so far behind AM in terms of marginal cost of production and ability to deliver that they'll fall further behind until they die. When the wider world realizes BFL lost they'll start casting about looking for the winner.

[DrHaribo]

I also was thinking that barring a miracle BFL will fall over in the next few months. Even if they do start to ship for real they appear to be so far behind AM in terms of marginal cost of production and ability to deliver that they'll fall further behind until they die. When the wider world realizes BFL lost they'll start casting about looking for the winner.

Sounds like a world where one "winner" controls everything. That's a world where Bitcoin is dead. I hope you're wrong.

[stripykitteh]

I also was thinking that barring a miracle BFL will fall over in the next few months. Even if they do start to ship for real they appear to be so far behind AM in terms of marginal cost of production and ability to deliver that they'll fall further behind until they die. When the wider world realizes BFL lost they'll start casting about looking for the winner.

Sounds like a world where one "winner" controls everything. That's a world where Bitcoin is dead. I hope you're wrong.

Actually, I don't want there to be a single winner either, even though I have a small number of AM shares. I hope Avalon and some others will stick around. Avalon have batch 2 & 3 orders for 84TH so they're going to be players in the short to medium term, plus a lot of chips they've taken orders for.

I think AM are smart enough to either sell some of their hardware to customers to spread the hashrate around or not deploy it all too quickly to kill off the competition.

[gyverlb]

[...]
Actually, I don't want there to be a single winner either, even though I have a small number of AM shares. I hope Avalon and some others will stick around. Avalon have batch 2 & 3 orders for 84TH so they're going to be players in the short to medium term, plus a lot of chips they've taken orders for.

I think AM are smart enough to either sell some of their hardware to customers to spread the hashrate around or not deploy it all too quickly to kill off the competition.

Don't forget the 100TH-mine project: if their chips work as expected they will have the largest margin (both in terms of H/$ and H/W) of all this summer. They are ambitious but they have competent people (BitFury, tytus, Dave).

[stripykitteh]

[...]
Actually, I don't want there to be a single winner either, even though I have a small number of AM shares. I hope Avalon and some others will stick around. Avalon have batch 2 & 3 orders for 84TH so they're going to be players in the short to medium term, plus a lot of chips they've taken orders for.

I think AM are smart enough to either sell some of their hardware to customers to spread the hashrate around or not deploy it all too quickly to kill off the competition.

Don't forget the 100TH-mine project: if their chips work as expected they will have the largest margin (both in terms of H/$ and H/W) of all this summer. They are ambitious but they have competent people (BitFury, tytus, Dave).

Thanks for the info!

I'm sure the free market will continue to reward the fit and punish everyone else. If AM continue to have success they will attract competition.