ASICMINER: Entering the Future of ASIC Mining by Inventing It

[John (John K.)]

i can't help but wonder if the share price is being effected by the reaction to the whole 1.99 usb miner thing. lot of people were caught of guard by that, to say the least.

USB miners has roughly the same hashing power at a fraction of the size and power usage. If they don't want them, they can stick with their GPUs and all their issues.

  I consider this to be wrong.  I have a problem with the usb miners over gpus for a few reasons.

 First they encourage power theft  this is bad for asicminer since they built a device that can steal power to make money.  to me this may cause a lot of problems.

 Second i purchased a hd7790 for 113 usd  the usb stick is about 220 usd   107 dollars cheaper for the gpu card.

Third  the 7790 pulls 80 watts to hash at 300Mh/s  the usb stick pulls 2.5 watts  so lets say   80 watts difference . this is 2 kwatts a day  New Jersey cost = 32 cents  for 2 kwatts.  This will take about 334 days or 11 months to be 107 dollars.  So the 'free' power of the stick in the usa will not help you for 11 months against the hd7790.  

Fourth if bitcoins crash the hd7790 is a working piece of gear with value.

Fifth  if bitcoins do not crash but the network goes to 300Th  you can mine other coins. the usb can not mine other coins.

Sixth  the stick will cost more then 220usd since resellers will charge more to make profit.  Resellers may ask 300 usd.



So frankly The usb stick has lots of downside issues.

It does have upside

1) It will bring in other miners and new people.

2) It is small



  I really fear people stealing power with it getting caught and giving bitcoins (asicminer) a black eye

Well, as someone having maintained a GPU farm for a couple of months last time, I can say that having 3GH in the form of USB sticks is vastly preferred over 3GH in GPU's. The heat, frequent maintenance, electricity required (imagine drawing so much power that you flipped the fuse), and the empty space required is a massive upgrade - that's why FPGA's are highly priced despite the lower hash/price ration.

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[JimiQ84]

anyhow... right now it looks like AM will sell at most 1200 of these USB miners... what will happen to the rest? (8800 pieces)

[phantastisch]

anyhow... right now it looks like AM will sell at most 1200 of these USB miners... what will happen to the rest? (8800 pieces)

Well since you have contact with every person who directly messaged friedcat in regard of this miners this 1200 are final, am i right?

[SebastianJu]

Fifth  if bitcoins do not crash but the network goes to 300Th  you can mine other coins. the usb can not mine other coins.

Thats not correct i think. The asics use sha-256 and many other coins use this too. There isnt only litecoin as alternate cryptocurrency. Today the exchange rate isnt as good as yesterday but there are many other coins that could be mined with sha-256. Terracoin, PPCoin, Freicoin, Bytecoin, Namecoin, IXCoin and Devcoin. And yesterday there were some of these coins way more profitable than mining litecoins. So its not a disadvantage that big.

[ineededausername]

Another big deployment today brought us to around 19 TH/s

[Franktank]

Another big deployment today brought us to around 19 TH/s

Its so sweet that it finally works out like planned. Thanks friedcat and team for the work!

Huzzah!! In friedcat we trust!

[philipma1957]

Fifth  if bitcoins do not crash but the network goes to 300Th  you can mine other coins. the usb can not mine other coins.

Thats not correct i think. The asics use sha-256 and many other coins use this too. There isnt only litecoin as alternate cryptocurrency. Today the exchange rate isnt as good as yesterday but there are many other coins that could be mined with sha-256. Terracoin, PPCoin, Freicoin, Bytecoin, Namecoin, IXCoin and Devcoin. And yesterday there were some of these coins way more profitable than mining litecoins. So its not a disadvantage that big.

yeah it is not the biggest plus for gpus it is why I put it lower on the list.

 hey don't get me wrong I am still buying asicminer shares. they are better then bfl vaporware

[SebastianJu]

Link taken out... its working on still...

[SmiGueL]

Somethings not fully right with this calculations

Last week we would have gotten 50% more dividend but it was like the week before because some investments was done. The stat shows even less dividend than was paid. So we got nearly the same dividend like a week before. Now we have more than double the hashrate than we had 2 weeks before. This should lead to a double dividend than 2 weeks before. The stat isnt showing this. Im not sure but i think something has to be fixed there. But its an interesting stat once it will work correctly... thanks for the work...

1. I've just created that sheet.. and working on it.. patient please
Rome isn't built in 10 seconds  

2. I've never released that link anywhere. (and maybe never will) So can you please remove it until it works fine?

3. I don't get what you mean by 'This should lead to a double dividend than 2 weeks before.' because the graph already shows that the dividend from mining income will probably be almost 2x higher.

Of course this sheets doesn't include the income from auctions, or the BTC's needed for investment....
Friedcat is the one who decides when and what's gonna be paid, and I can't read his mind. Until now I'm very happy with his decisions
The sheet is just to give an estimation of the mining income from ASICMINER, no more no less.
But since it's dependent on so many factors, it will never be exact..

_{*Nothing personal , it's just that you share a link which i've never given to someone / released, and then going to bash about it that it's wrong..}

[rudrigorc2]

Right now one share equals how many mhash?

[SmiGueL]

Right now one share equals how many mhash?

18850 GH/s / 400000 shares = 47.125MH/s / share
But it's rising every second  

[gigantic]

Hmm, where do you see 19TH? i see only 14TH on btcguild 

[creativex]

bitminter

[rudrigorc2]

Right now one share equals how many mhash?

18850 GH/s / 400000 shares = 47.125MH/s / share
But it's rising every second  

Youre right. Last time I checked the math was 45/share   

[g83]

If 1 share is actually worth about 50 MH/s - why is it they cost about 1.20 and everybody shouting they're totally undervalued ?

1 Avalon Miner for about 100 Btc = ca. 83 Shares =  85 GH vs. 4.15 GH....

anybody here can follow this calculation ? or is thery something i missed?

[bitfair]

If 1 share is actually worth about 50 MH/s - why is it they cost about 1.20 and everybody shouting they're totally undervalued ?

1 Avalon Miner for about 100 Btc = ca. 83 Shares =  85 GH vs. 4.15 GH....

anybody here can follow this calculation ? or is thery something i missed?

Remember to take into account:
(1) Expansion to 50+ TH/s within the next few weeks
(2) Delivery of 200TH/s in the near future
(3) Future expansions at cost of around $10k per TH/s
(4) Hardware sales, ongoing and future

Did I miss anything?

Edit: I did miss something: next generation ASICs (under development already?) - and the generation after that, and the generation after that, and so forth...

[kokojie]

If 1 share is actually worth about 50 MH/s - why is it they cost about 1.20 and everybody shouting they're totally undervalued ?

1 Avalon Miner for about 100 Btc = ca. 83 Shares =  85 GH vs. 4.15 GH....

anybody here can follow this calculation ? or is thery something i missed?

within 2 months from now, your 80GH avalon is still 80GH, AM shares will be representing 10X more hash rates at that time if everything goes as planned. That is only a start of many more TH additions to come.

[SmiGueL]

1 Avalon Miner for about 100 Btc

Where can I send 100 BTC to have that 85 GH/s Avalon mining tomorrow?  

[velacreations]

Somethings not fully right with this calculations

Last week we would have gotten 50% more dividend but it was like the week before because some investments was done. The stat shows even less dividend than was paid. So we got nearly the same dividend like a week before. Now we have more than double the hashrate than we had 2 weeks before. This should lead to a double dividend than 2 weeks before. The stat isnt showing this. Im not sure but i think something has to be fixed there. But its an interesting stat once it will work correctly... thanks for the work...

1. I've just created that sheet.. and working on it.. patient please
Rome isn't built in 10 seconds  

2. I've never released that link anywhere. (and maybe never will) So can you please remove it until it works fine?

3. I don't get what you mean by 'This should lead to a double dividend than 2 weeks before.' because the graph already shows that the dividend from mining income will probably be almost 2x higher.

Of course this sheets doesn't include the income from auctions, or the BTC's needed for investment....
Friedcat is the one who decides when en what's gonna be paid, and I can't read his mind. Until now I'm very happy with his decisions
The sheet is just to give an estimation of the mining income to ASICMINER, no more no less.

_{*Nothing personal , it's just that you share a link which i've never given to someone / released, and then going to bash about it that it's wrong..}

Thanks for that sheet. 

Please let us know when it is ready to spread around the internet and create a massive demand for AM shares....

[SmiGueL]

Please let us know when it is ready to spread around the internet and create a massive demand for AM shares....

Well, I don't think that it will ever be a 100% accurate sheet.. and it doesn't have to be..
_{(That requires at least 24/7 hashrate monitoring and more detailed info about all the fees + maintaining costs)}

The best graph to spread around the internet is probably this one:



*Click on it for a full-screen interactive version. More graphs here

The new graph that's showing the predicted payouts for mining is probably gonna be misleading for new people who want to buy shares,
because ASICMINER is SOOOOO much more than a company that just mines with a few ASIC's....

--

The current used method to calculate the mined BTC for the last 7 days is:
- Search for every date in the sheet that is between NOW and NOW-minus-7 days.
- Get the hashrate percentages of the network at that dates, and average them.
- Multiply this by 3600 and 7 (BTC/day & days/week)
- Multiply this by 0.9. (10% is estimated for the pool fee + electricity + maintenance costs)

I can (probably) improve the results by:
- Filter out the disturbing dips and peeks in the hashrate.
- Give a 'weight' to every sample. So that samples taken with 1 day in between weigh more than samples taken quickly behind each other.
  The problem now is that the hashrate of the 'quickly behind each other' samples are disturbing the average hashrate..

Not a big problem to fix in Excel, but quite some work in Google Docs.

_{I hope everyone realizes i've created and maintaining this all just for fun in my spare time.}