ASICMINER: Entering the Future of ASIC Mining by Inventing It

[candoo]

is there a FAQ or HOW-TO for when it comes to buying auction ASIC shares from people on this board? I've been reading around but can't find much detail about the entire process. Do you guys have any links you could point me to on the process and rules?

Best way to buy shares is here https://bitfunder.com/asset/G.ASICMINER-PT

[1715024151]

1715024151

[1715024151]

1715024151

[cointoss]

How much GH is one ASICMINER share?

[inh]

How much GH is one ASICMINER share?

(1/400000)*current hash rate in GH

[twmz]

Seems a little strange to be cutting out the satoshi from the total, it means miners who handle non-standard transactions will sometimes find more blocks than those who run the normal client just because of a one satoshi output in the whole transaction chain.

Wonder if that's more of a PR issue I do remember people putting some porn links in the blockchain, and changes to prevent that
I will not battle for the satoshi just wanted to know where it went
Thanks for answering twmz
And if it somehow effects the total number of bitcoin's fractional reserve capability the whole
Bitcoin has 2.1 quadrillion raw units

To be clear, this has no affect on how many blocks a miner finds.  

Also, having a non-even amount is not a problem.  So, it's fine if you want to send 10.00000001 to someone.  You just can't send 10.0000000 to person A and 0.00000001 to person B (which is what the satoshis transaction does).

Sorry if my previous comment confused you.

Also, Gavin explained in the discussion about this change to bitcoin-qt that it was a  temporary fix (to the transaction spam problem).  Eventually, this rule will be removed and replaced with a better algorithm that adapts the definition of what makes something a "spam" transaction by looking at the pattern of what has recently been included in blocks.  So as the economy changes and it becomes more reasonable to send someone 0.000001, the bitcoin client will automatically adapt and start allowing it.

[helixone]

How much GH is one ASICMINER share?

Using latest estimated total TH of 25.86TH from http://asicminercharts.com/ and dividing by shares outstanding of 400,000 indicates an estimated 64.65MH per share.

-helixone

[GuiltySpark343]

If you do a "cost analysis" in terms of purchase price vs revenue generated, then:

ASSUMPTIONS
- do not factor in electricity costs
- BTC exchange at today's rate of $120 USD/BTC
- network difficulty on average increases 10% every 2 weeks, thereby reducing revenue by about 10% every 2 weeks

GPU
- AMD 7970 at stock speeds provides 650 MH/s
- Cost $400 USD or 3.33 BTC
- Generates 0.0209 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 2.74 BTC
- LOSS OF 0.60 BTC

USB Block Erupter
- 333 MH/s
- Cost 1.99 BTC
- Generates 0.0107 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 1.40 BTC
- LOSS OF 0.59 BTC

BFL Jalapeno
- 5000 MH/s
- Cost $274 USD = 2.28 BTC
- Generates 0.1611 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 21.1 BTC if you start mining today!
- If you receive your unit and start mining 6 months from now
   - Generates 0.0454 BTC/day
   - After one year from that point, total BTC generated = 5.945 BTC

AM-PT SHARE
- Currently about 2.5 BTC/share at BTC-TC
- Recently generated 0.038 BTC/week in dividends (this was the highest dividend ever)
- After one year of dividends at this rate = 1.98 BTC
- LOSS OF 0.52 BTC

In other words, if you purchase any of the above items in the hopes of "earning back" your cost, you won't (with exception of BFL units). Of course this does not include the fact that you can sell your 7970 GPU in the future (but a year from now how much would it be worth? maybe $100?). Others would say you cannot sell the USB Block Erupter after a year because it is a uni-tasker without any other purpose. The BFL units are reasonably priced. Problem is they are not shipping in bulk, so a delay in shipment leads to large loss in profit. Finally, you can sell your AM-PT share too, and it is very difficult to predict what the sell price would be at that time.

[TheFuneral]

is there a FAQ or HOW-TO for when it comes to buying auction ASIC shares from people on this board? I've been reading around but can't find much detail about the entire process. Do you guys have any links you could point me to on the process and rules?

Best way to buy shares is here https://bitfunder.com/asset/G.ASICMINER-PT

Thanks, but I'm interested in direct shares. Which is why I've been looking in the auction forum here.

[philipma1957]

Update

The wafer of the first half (100TH/s) of next batch is to be out of fab.
More than 4,000 USB devices are sold out in total.
The demand of blades are surprisingly long-lasting and still high.

With respect to the mining business, we have never seen it as a drying up one
in spite of persistent block halving. If Bitcoin ever rises as a successful currency
in a few years, and the transaction fee has to be, say, 15BTC each block on average,
to prevent attacks from organizations that are all over the world and begin show
up when Bitcoin flourishes, what we could expect is 27.5BTC per block after the
next block halving, and more than 15BTC forever in the further future.

The shares "missing" are those missing from the original GLBSE database when we got
them. Some people had failed to report their Bitcoin address. Among them, several ones
successfully redeemed their shares after we mailed them for the address info. But the
rest failed to mail back.

The delay of confirmation of this week's dividends is caused by the payments of real
dividends are chained after the satoshi transactions, which are now refused by most
of the clients. We will either stop the satoshi payments, or unchain the payment in our
modified scripts.

  MY concern is over the usb sticks if 4000 have been sold for 8000 btc do we have 6000 left to sell?  What will we try to move them at 2btc A STICK.? MY next concern is how many blade have been sold? How many are left to sell and will we still try to sell them at 30 BTC a blade.  Seems to me all the sales will drop a lot and dividends will be greatly reduced very soon as BFL will have all jalapenos delivered and up to real time in 90 days. see links

http://www.coindesk.com/butterfly-labs-finally-ships-out-last-years-jalapeno-orders/

https://forums.butterflylabs.com/blogs/bfl_jody/180-wednesday-6-5-2012.html

 IF true a BFL 5gh sold for 2.5btc that  will end AM income from sales.  This means AM will need more hash and less sales or far lower prices to sell enough  To keep current dividends high.  


Or we can all hope BFL will stop shipping the jalapenos at a fast rate.

[tinus42]

AM-PT SHARE
- Currently about 2.5 BTC/share at BTC-TC
- Recently generated 0.038 BTC/week in dividends (this was the highest dividend ever)
- After one year of dividends at this rate = 1.98 BTC
- LOSS OF 0.52 BTC

In other words, if you purchase any of the above items in the hopes of "earning back" your cost, you won't. Of course this does not include the fact that you can sell your 7970 GPU in the future (but a year from now how much would it be worth? maybe $100?). Others would say you cannot sell the USB Block Erupter after a year because it is a uni-tasker without any other purpose. Finally, you can sell your AM-PT share too, and it is very difficult to predict what the sell price would be at that time.

This does not factor in possible rise of share price and rise of BTC/(USD/EUR/YEN/GDP/whatever).

If you bought BTC with fiat and then bought ASICMINER shares you might see a faster ROI in fiat than in BTC. Assuming BTC keeps rising against fiat.

It is quite plausible that many newcomers who can't make a profit in mining will see ASICMINER shares as an alternative. Which would logically increase the price.

Nothing is certain of course, anything BTC related is a risky investment (some might call it a gamble).

[philipma1957]

If you do a "cost analysis" in terms of purchase price vs revenue generated, then:

ASSUMPTIONS
- do not factor in electricity costs
- BTC exchange at today's rate of $120 USD/BTC
- network difficulty on average increases 10% every 2 weeks, thereby reducing revenue by about 10% every 2 weeks

GPU
- AMD 7970 at stock speeds provides 650 MH/s
- Cost $400 USD or 3.33 BTC
- Generates 0.0209 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 2.74 BTC
- LOSS OF 0.60 BTC

USB Block Erupter
- 333 MH/s
- Cost 1.99 BTC
- Generates 0.0107 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 1.40 BTC
- LOSS OF 0.59 BTC

BFL Jalapeno
- 5000 MH/s
- Cost $274 USD = 2.28 BTC
- Generates 0.1611 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 21.1 BTC if you start mining today!
- If you receive your unit and start mining 6 months from now
   - Generates 0.0454 BTC/day
   - After one year from that point, total BTC generated = 5.945 BTC

AM-PT SHARE
- Currently about 2.5 BTC/share at BTC-TC
- Recently generated 0.038 BTC/week in dividends (this was the highest dividend ever)
- After one year of dividends at this rate = 1.98 BTC
- LOSS OF 0.52 BTC

In other words, if you purchase any of the above items in the hopes of "earning back" your cost, you won't (with exception of BFL units). Of course this does not include the fact that you can sell your 7970 GPU in the future (but a year from now how much would it be worth? maybe $100?). Others would say you cannot sell the USB Block Erupter after a year because it is a uni-tasker without any other purpose. The BFL units are reasonably priced. Problem is they are not shipping in bulk, so a delay in shipment leads to large loss in profit. Finally, you can sell your AM-PT share too, and it is very difficult to predict what the sell price would be at that time.

 wrong a hd7790 cost 1btc generates 300MHs  

bfl jallys have sped delivery a lot over the last 10 days  and if you order today and get one in 90 days as claimed your analysis is wrong.

frankly if you want to start in this game today there is no good item to buy.

[tinus42]

Update

The wafer of the first half (100TH/s) of next batch is to be out of fab.
More than 4,000 USB devices are sold out in total.
The demand of blades are surprisingly long-lasting and still high.

With respect to the mining business, we have never seen it as a drying up one
in spite of persistent block halving. If Bitcoin ever rises as a successful currency
in a few years, and the transaction fee has to be, say, 15BTC each block on average,
to prevent attacks from organizations that are all over the world and begin show
up when Bitcoin flourishes, what we could expect is 27.5BTC per block after the
next block halving, and more than 15BTC forever in the further future.

The shares "missing" are those missing from the original GLBSE database when we got
them. Some people had failed to report their Bitcoin address. Among them, several ones
successfully redeemed their shares after we mailed them for the address info. But the
rest failed to mail back.

The delay of confirmation of this week's dividends is caused by the payments of real
dividends are chained after the satoshi transactions, which are now refused by most
of the clients. We will either stop the satoshi payments, or unchain the payment in our
modified scripts.

  MY concern is over the usb sticks if 4000 have been sold for 8000 btc do we have 6000 left to sell?  What will we try to move them at 2btc A STICK.? MY next concern is how many blade have been sold? How many are left to sell and will we still try to sell them at 30 BTC a blade.  Seems to me all the sales will drop a lot and dividends will be greatly reduced very soon as BFL will have all jalapenos delivered and up to real time in 90 days. see links

http://www.coindesk.com/butterfly-labs-finally-ships-out-last-years-jalapeno-orders/

https://forums.butterflylabs.com/blogs/bfl_jody/180-wednesday-6-5-2012.html

 IF true a BFL 5gh sold for 2.5btc that  will end AM income from sales.  This means AM will need more hash and less sales or far lower prices to sell enough  To keep current dividends high.  


Or we can all hope BFL will stop shipping the jalapenos at a fast rate.

These Jalapenos were ordered nearly a year ago. If you order now you can't get one of them as fast as an ASICMINER device. It will take months instead of days. Which is why AM will be able to sell their devices at a premium. One bird in the hand is better than 10 in the bush.

[lophie]

Hm... i read people still bought BFL-Miners "last week"... i wonder how many could be "saved" when Asicminer would be so known for their Miner-Offers like BFL is...

Even though i see that friedcat would have work with it, for example explaining what website they want, speak about design and functionality im interested to see the effect.

What effect would have advertising at bitcointalk.org? What effect other internet marketing techniques?

I think it could lead to much more sells and maybe even to less poor guys thinking BFL is the one and only legit Miner-Company.

At the end only friedcat can decide such things. And it looks like its not top priority. I tend to believe friedcat thinks there are other things he can do to maximize dividends. At least he shows it all the time. But a rethink cant be bad.

Dude if you were referring to me then no I did not buy the miner last week, I did that ages ago. I think it was before the IPO divs were over. . I got it when BTC was above $230 before the nosedive.

[freedomno1]

Seems a little strange to be cutting out the satoshi from the total, it means miners who handle non-standard transactions will sometimes find more blocks than those who run the normal client just because of a one satoshi output in the whole transaction chain.

Wonder if that's more of a PR issue I do remember people putting some porn links in the blockchain, and changes to prevent that
I will not battle for the satoshi just wanted to know where it went
Thanks for answering twmz
And if it somehow effects the total number of bitcoin's fractional reserve capability the whole
Bitcoin has 2.1 quadrillion raw units

To be clear, this has no affect on how many blocks a miner finds.  

Also, having a non-even amount is not a problem.  So, it's fine if you want to send 10.00000001 to someone.  You just can't send 10.0000000 to person A and 0.00000001 to person B (which is what the satoshis transaction does).

Sorry if my previous comment confused you.

Also, Gavin explained in the discussion about this change to bitcoin-qt that it was a  temporary fix (to the transaction spam problem).  Eventually, this rule will be removed and replaced with a better algorithm that adapts the definition of what makes something a "spam" transaction by looking at the pattern of what has recently been included in blocks.  So as the economy changes and it becomes more reasonable to send someone 0.000001, the bitcoin client will automatically adapt and start allowing it.

No problem learning more and getting less confused with each clarification
In Friedcat's dividend where did that 0.00000001 come from?

Thanks for explaining the client change and hope that algorithm adaption occurs sometime in the near future
Is their any time-frame at this stage on that

[philipma1957]

Update

The wafer of the first half (100TH/s) of next batch is to be out of fab.
More than 4,000 USB devices are sold out in total.
The demand of blades are surprisingly long-lasting and still high.

With respect to the mining business, we have never seen it as a drying up one
in spite of persistent block halving. If Bitcoin ever rises as a successful currency
in a few years, and the transaction fee has to be, say, 15BTC each block on average,
to prevent attacks from organizations that are all over the world and begin show
up when Bitcoin flourishes, what we could expect is 27.5BTC per block after the
next block halving, and more than 15BTC forever in the further future.

The shares "missing" are those missing from the original GLBSE database when we got
them. Some people had failed to report their Bitcoin address. Among them, several ones
successfully redeemed their shares after we mailed them for the address info. But the
rest failed to mail back.

The delay of confirmation of this week's dividends is caused by the payments of real
dividends are chained after the satoshi transactions, which are now refused by most
of the clients. We will either stop the satoshi payments, or unchain the payment in our
modified scripts.

  MY concern is over the usb sticks if 4000 have been sold for 8000 btc do we have 6000 left to sell?  What will we try to move them at 2btc A STICK.? MY next concern is how many blade have been sold? How many are left to sell and will we still try to sell them at 30 BTC a blade.  Seems to me all the sales will drop a lot and dividends will be greatly reduced very soon as BFL will have all jalapenos delivered and up to real time in 90 days. see links

http://www.coindesk.com/butterfly-labs-finally-ships-out-last-years-jalapeno-orders/

https://forums.butterflylabs.com/blogs/bfl_jody/180-wednesday-6-5-2012.html

 IF true a BFL 5gh sold for 2.5btc that  will end AM income from sales.  This means AM will need more hash and less sales or far lower prices to sell enough  To keep current dividends high.  


Or we can all hope BFL will stop shipping the jalapenos at a fast rate.

These Jalapenos were ordered nearly a year ago. If you order now you can't get one of them as fast as an ASICMINER device. It will take months instead of days. Which is why AM will be able to sell their devices at a premium. One bird in the hand is better than 10 in the bush.

every day for the last 2 weeks this is less true. the real question is how much do you split  your bets

[EskimoBob]

is there a FAQ or HOW-TO for when it comes to buying auction ASIC shares from people on this board? I've been reading around but can't find much detail about the entire process. Do you guys have any links you could point me to on the process and rules?

Best way to buy shares is here https://bitfunder.com/asset/G.ASICMINER-PT

Thanks, but I'm interested in direct shares. Which is why I've been looking in the auction forum here.

https://bitcointalk.org/index.php?topic=213729.0

[tinus42]

every day for the last 2 weeks this is less true. the real question is how much do you split  your bets

It forever takes two weeks for BFL to ship.

[bitfair]

If you do a "cost analysis" in terms of purchase price vs revenue generated, then:

ASSUMPTIONS
- do not factor in electricity costs
- BTC exchange at today's rate of $120 USD/BTC
- network difficulty on average increases 10% every 2 weeks, thereby reducing revenue by about 10% every 2 weeks

GPU
- AMD 7970 at stock speeds provides 650 MH/s
- Cost $400 USD or 3.33 BTC
- Generates 0.0209 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 2.74 BTC
- LOSS OF 0.60 BTC

USB Block Erupter
- 333 MH/s
- Cost 1.99 BTC
- Generates 0.0107 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 1.40 BTC
- LOSS OF 0.59 BTC

BFL Jalapeno
- 5000 MH/s
- Cost $274 USD = 2.28 BTC
- Generates 0.1611 BTC/day at today's difficulty
- After one year of continuous mining total BTC generated = 21.1 BTC if you start mining today!
- If you receive your unit and start mining 6 months from now
   - Generates 0.0454 BTC/day
   - After one year from that point, total BTC generated = 5.945 BTC

AM-PT SHARE
- Currently about 2.5 BTC/share at BTC-TC
- Recently generated 0.038 BTC/week in dividends (this was the highest dividend ever)
- After one year of dividends at this rate = 1.98 BTC
- LOSS OF 0.52 BTC

In other words, if you purchase any of the above items in the hopes of "earning back" your cost, you won't (with exception of BFL units). Of course this does not include the fact that you can sell your 7970 GPU in the future (but a year from now how much would it be worth? maybe $100?). Others would say you cannot sell the USB Block Erupter after a year because it is a uni-tasker without any other purpose. The BFL units are reasonably priced. Problem is they are not shipping in bulk, so a delay in shipment leads to large loss in profit. Finally, you can sell your AM-PT share too, and it is very difficult to predict what the sell price would be at that time.

The comparison is faulty because AM is a company and the other alternatives are hardware.

Why is that relevant, you ask? Well, AM will (hopefully) continuously renew itself and its strategy in order to keep earnings high, whereas the hardware simply gets outdated and earns progressively less and less as time goes along. So: buying hardware may earn you more in the short term, shares in AM may earn you more in the long term.

[freedomno1]

every day for the last 2 weeks this is less true. the real question is how much do you split  your bets

It forever takes two weeks for BFL to ship.

We call it BFL Time
Taken from Valve Time
https://developer.valvesoftware.com/wiki/Valve_Time

[bitzox]

every day for the last 2 weeks this is less true. the real question is how much do you split  your bets

It forever takes two weeks for BFL to ship.

We call it BFL Time
Taken from Valve Time
https://developer.valvesoftware.com/wiki/Valve_Time

HA! so what you are telling me is that BFL will ship the same day as Half Life 3?

[saveawedge]

HA! so what you are telling me is that BFL will ship the same day as Half Life 3?

Two weeks after I think.