ASICMINER: Entering the Future of ASIC Mining by Inventing It

[kokojie]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

I guees the 10% will melt away shortly. Think about the hashpower that is directed to these altcoins now. The coins have to be sold too. So it will put pressure on the price. And so on... Wont work out for long.

You know how funny your argument is right? Think about the hashpower that is directed to Bitcoin now, the coins have to be sold too, so it will put pressure on the price?

[1714131924]

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[kokojie]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

BTCGuild only has 3% fees, I don't call that outrageous. Plus they pay orphaned blocks and tx fees, so it's a pretty good deal.

3% PPLNS, 7.5% PPS is outrageous, can you find me 3 pools that charges more for PPLNS or PPS? you can't, so BTCGuild is charging the top 3 fee in all crypto land, plus they have economy of scale, so they make a lot more than everybody else. Therefore, outrageous.

[organofcorti]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

BTCGuild only has 3% fees, I don't call that outrageous. Plus they pay orphaned blocks and tx fees, so it's a pretty good deal.

3% PPLNS, 7.5% PPS is outrageous, can you find me a pool that charges more? including any alt coin pool? no you can't, so BTCGuild is charging the highest fee in all crypto land. Therefore, outrageous.

3% PPLNS is not outrageous, it's standard. Not all pools pay tx fees and orphaned blocks. Orphaned blocks are worth an additional 1% to miners and tx fees another ~ 2%.

There's no point bringing up the PPS fee. Apart from the fact it was introduced to help reduce BTCGuild's proportion of the network, ASICMiner is mining on PPLNS so it has no  bearing on our discussion.

[VeeMiner]

if there is a pool discussion - just go for slush's pool, it's really good

[John (John K.)]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

BTCGuild only has 3% fees, I don't call that outrageous. Plus they pay orphaned blocks and tx fees, so it's a pretty good deal.

3% PPLNS, 7.5% PPS is outrageous, can you find me 3 pools that charges more for PPLNS or PPS? you can't, so BTCGuild is charging the top 3 fee in all crypto land, plus they have economy of scale, so they make a lot more than everybody else. Therefore, outrageous.

I can find you an alt coin pool that charges more fees than that off my head. I've just recently closed a thread and tagged the operator for charging a 100% fee without telling his users. 

That said, friedcat should consider going solo in the near future.

[RoboCoder]

if there is a pool discussion - just go for slush's pool, it's really good

+1

[JimiQ84]

That said, friedcat should consider going solo in the near future.

As I remember correctly, it is planned in about a month, maybe less.

[philipma1957]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

I would like 3 mining locations:

1) btc guild

2)bitminter

3) solo 

 I would also like asicminer to have more then one location for the gear they hash with.

 When Hurricane Sandy hit the USA many people had long power outages. When Thailand flooded Western Digital the entire world had price problems with HDDs.  When a major fuse factory was destroyed in Taiwan around a dozen years ago the entire world has a fuse shortage.  I do not know what asicminer has planned or how they protect their gear but two heads are better then one.  So if a two city plan or even two locations in the same city miles apart can be down it should be done.  as I type 20Th out of 80Th belongs to asicminer if it is all in one building under one roof it is an extra risk.

[SebastianJu]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

I guees the 10% will melt away shortly. Think about the hashpower that is directed to these altcoins now. The coins have to be sold too. So it will put pressure on the price. And so on... Wont work out for long.

You know how funny your argument is right? Think about the hashpower that is directed to Bitcoin now, the coins have to be sold too, so it will put pressure on the price?

Bitcoin isnt comparable to the altcoins. You should check the amount of worth traded each day in bitcoins and the amount of worth transferred in altcoins. Its way way less. Its the same with the orderbooks. So when you sell or buy bitcoins worht $10000 the price wont change. Do the same with a small coin the price will drop or rise a lot. Thats the difference. And thats why mining with big hashpower for altcoins wont last very long for a reasonable price.

[DiabloD3]

The ASIC chips used in Avalon and AM is different - actually I remember correctly AM is using the older 110nm chips while Avalon uses the slightly newer chip at 70+-nm.

And yes, I can read Chinese for god's sake. 

90 iirc

I fail, sorry. 

You both fail

Avalon = 110nm
AM = 130nm

Well, wtf, I said 110, 130 on IRC, and every time I do everyone says Im wrong its 90 and 110. INTERNET, MAKE UP YOUR MIND.

[John (John K.)]

The ASIC chips used in Avalon and AM is different - actually I remember correctly AM is using the older 110nm chips while Avalon uses the slightly newer chip at 70+-nm.

And yes, I can read Chinese for god's sake. 

90 iirc

I fail, sorry. 

You both fail

Avalon = 110nm
AM = 130nm

Well, wtf, I said 110, 130 on IRC, and every time I do everyone says Im wrong its 90 and 110. INTERNET, MAKE UP YOUR MIND.

Did some research and concluded that mrb's numbers are correct there. I only knew that AM was using older tech here. 

[ex-trader]

Update

A lot of great thing happened last week. We wiped over the obstacles (infrastructure and paperwork) on deploying and put a lot of our available hashrate online. We also did a significant improvement (power, design, appearance) on the USB stick from the sample batch to the production batch.

For the discussion in the last few days, what we... I could say, is only that our IC design team had achieved fantastic results, as everyone could see and compare, with the most limited funds (barely more than 100k$ raised last August) and most inferior mask-set of choice (130nm which belongs to the antiquity era), and I'm proud of it.

Seriously impressive in 8 months and I'm sure a lot of recent arrivals, just like myself, wish we'd been around at that time to invest.

[kokojie]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

I guees the 10% will melt away shortly. Think about the hashpower that is directed to these altcoins now. The coins have to be sold too. So it will put pressure on the price. And so on... Wont work out for long.

You know how funny your argument is right? Think about the hashpower that is directed to Bitcoin now, the coins have to be sold too, so it will put pressure on the price?

Bitcoin isnt comparable to the altcoins. You should check the amount of worth traded each day in bitcoins and the amount of worth transferred in altcoins. Its way way less. Its the same with the orderbooks. So when you sell or buy bitcoins worht $10000 the price wont change. Do the same with a small coin the price will drop or rise a lot. Thats the difference. And thats why mining with big hashpower for altcoins wont last very long for a reasonable price.

I don't understand your logic, the amount of NMC produced per day is same, by mining at bitminter, some of that amount goes to AM instead of others. The amount that can be sold per day remains the same, why would you think AM mining some NMC will crash the NMC market? if you haven't noticed, NMC has risen over 10 fold over the last few month, so did LTC and PPC and many other alt coins. The alt coin market is only getting stronger, by a factor of 10 or more. AM selling some NMC is a drop in the bucket.

Alt coin has some serious advantages over Bitcoin. For example I find myself increasingly doing transactions in LTC, due to the lightning fast confirmation. Whenever I do BTC transactions, I find myself kicking myself for not doing it in LTC, because the confirmation time is so slow. Also I'm growing increasingly fond of the 1% interest on my PPC balance.

[kokojie]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

BTCGuild only has 3% fees, I don't call that outrageous. Plus they pay orphaned blocks and tx fees, so it's a pretty good deal.

3% PPLNS, 7.5% PPS is outrageous, can you find me a pool that charges more? including any alt coin pool? no you can't, so BTCGuild is charging the highest fee in all crypto land. Therefore, outrageous.

3% PPLNS is not outrageous, it's standard. Not all pools pay tx fees and orphaned blocks. Orphaned blocks are worth an additional 1% to miners and tx fees another ~ 2%.

There's no point bringing up the PPS fee. Apart from the fact it was introduced to help reduce BTCGuild's proportion of the network, ASICMiner is mining on PPLNS so it has no  bearing on our discussion.

bitminter also pays tx fee, and has 1% flat fee, so let's say paying for orphaned is worth 1% (I highly doubt it), so btcguild's fee is actually 2%, then bitminter fee is still 50% lower than btcguild (1% vs 2%). Not to mention bitminter gives you roughly 8% extra current income by giving you free NMC to sell.

[hak8or]

So from what I understand, asicminer is mining on a pool? Why did they go with mining on a third party pool instead of solo mining or a p2p pool? It seems that they have far more than enough hardware needed to find a block quite quickly.

[SebastianJu]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

I guees the 10% will melt away shortly. Think about the hashpower that is directed to these altcoins now. The coins have to be sold too. So it will put pressure on the price. And so on... Wont work out for long.

You know how funny your argument is right? Think about the hashpower that is directed to Bitcoin now, the coins have to be sold too, so it will put pressure on the price?

Bitcoin isnt comparable to the altcoins. You should check the amount of worth traded each day in bitcoins and the amount of worth transferred in altcoins. Its way way less. Its the same with the orderbooks. So when you sell or buy bitcoins worht $10000 the price wont change. Do the same with a small coin the price will drop or rise a lot. Thats the difference. And thats why mining with big hashpower for altcoins wont last very long for a reasonable price.

I don't understand your logic, the amount of NMC produced per day is same, by mining at bitminter, some of that amount goes to AM instead of others. The amount that can be sold per day remains the same, why would you think AM mining some NMC will crash the NMC market? if you haven't noticed, NMC has risen over 10 fold over the last few month, so did LTC and PPC and many other alt coins. The alt coin market is only getting stronger, by a factor of 10 or more. AM selling some NMC is a drop in the bucket.

Alt coin has some serious advantages over Bitcoin. For example I find myself increasingly doing transactions in LTC, due to the lightning fast confirmation. Whenever I do BTC transactions, I find myself kicking myself for not doing it in LTC, because the confirmation time is so slow. Also I'm growing increasingly fond of the 1% interest on my PPC balance.

Youre right, the amount would stay the same, but only after the difficulty has been adjusted to the higher hashrate. Before, mining with the old harshrate would mean way more coins created.
Mining then with higher difficulty would mean that the profitability to mine those coins would crash drastically. There would be an advantage but a small one.
Im not a pro in mining so i might be wrong here.

[Adrian-x]

Seriously impressive in 8 months and I'm sure a lot of recent arrivals, just like myself, wish we'd been around at that time to invest.

Don't kid yourself, I thought AM was shooting too high and wouldn't deliver, I invested in a more conservative mining operation, only to have them pull the plug after 4 weeks (most likely a ponzi), and I haven't seen a BTC penny back. Investing in AM is more a stroke of faith and luck given the BTC investment history.  

There are opportunities to but a USB miner
https://bitcointalk.org/index.php?topic=99497.0

[talnted]

Update

A lot of great thing happened last week. We wiped over the obstacles (infrastructure and paperwork) on deploying and put a lot of our available hashrate online. We also did a significant improvement (power, design, appearance) on the USB stick from the sample batch to the production batch.

For the discussion in the last few days, what we... I could say, is only that our IC design team had achieved fantastic results, as everyone could see and compare, with the most limited funds (barely more than 100k$ raised last August) and most inferior mask-set of choice (130nm which belongs to the antiquity era), and I'm proud of it.

This is all excellent news.  Thanks Friedcat

[Factory]

if there is a pool discussion - just go for slush's pool, it's really good

+1

Slush's pool is definitely one of the best.

[bitcoindaddy]

BitMinter doesn't cope with increased hashrate that well. All new blocks are interpreted as stale until enough blocks from competition confirm that they aren't stale. And since BitMinter has incredible luck last hour, there are not enough blocks from competition.

How is that not coping well? As long as the there are no orphaned blocks, what's the problem? ASICMiner will earn more there than at BTCGuild -  about 8% extra from merged mining and around 2% extra for transaction fees.

Yep, bitminter is definitely a GREAT choice for shareholders, BTCGuild can go to hell with their outrageous fees. I say only deploy at bitminter from now, and shareholder can enjoy the free 10% extra income.

BTCGuild only has 3% fees, I don't call that outrageous. Plus they pay orphaned blocks and tx fees, so it's a pretty good deal.

3% PPLNS, 7.5% PPS is outrageous, can you find me a pool that charges more? including any alt coin pool? no you can't, so BTCGuild is charging the highest fee in all crypto land. Therefore, outrageous.

3% PPLNS is not outrageous, it's standard. Not all pools pay tx fees and orphaned blocks. Orphaned blocks are worth an additional 1% to miners and tx fees another ~ 2%.

There's no point bringing up the PPS fee. Apart from the fact it was introduced to help reduce BTCGuild's proportion of the network, ASICMiner is mining on PPLNS so it has no  bearing on our discussion.

In my opinion, it would be wise to spread the load around to several pools. You can even mine with zero fees and they pay transaction fees at pool.itzod.ru.  Eligius has no fees either, but they don't pay transaction fees.  I don't see the point of mining at high fee pools.