ASICMINER: Entering the Future of ASIC Mining by Inventing It

[notme]

That reminds me..

I bought 50 USBs from Friedcat directly before I started ordering from WTCR.

Here is my e-mail, which he never replied to:

"I ordered 50 USB Miners from you back in June when they were 2BTC/each.

I would like to take advantage of the promotion of 0.1BTC/each for new ones, based on that order of 50."


No reply back..

feels like I'm getting some cat shit on me too..

The promotion was for previous orders at the 0.99/0.89 price point.  2BTC orders were not included.

[VolanicEruptor]

Oh.. well that kind of blows 
Are any other resellers receiving slow/partial shipments from Friedcat?  Sounds like WTCR is having that problem.. 
I hope production isn't slowing down..

[teek]

Oh.. well that kind of blows 
Are any other resellers receiving slow/partial shipments from Friedcat?  Sounds like WTCR is having that problem.. 
I hope production isn't slowing down..

Why would you say that it sounds like we are having that problem?   If anything production seems to be picking up from where I am sitting..  As well your promo order is getting boxed up right as we speak..

FC did always say that the promo orders werent immediate,  if anything it was MY decision to jump the gun and say they would be ready for the 15th,  that was my guestimate, we started shipping yesterday so i was off by 4 days.. 

Promos are now going out as fast as we can ship them,  back log should be cleared within 2 days.

teek
 

[velacreations]

What's the deal with the huge block of unknown mining that appeared around the time ASICMINER's marketshare dropped, any theories as to where it is coming from?

BFL moved from the category of "Vaporware" to the category of "Delivering massive hash".

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.  At the exact same time, the "unknown" block grew considerably.

so, either FC is having sex in the datacenter again, or 20 TH/s or so of the farm went to "unknown" overnight.

[finlof]

That reminds me..

I bought 50 USBs from Friedcat directly before I started ordering from WTCR.

Here is my e-mail, which he never replied to:

"I ordered 50 USB Miners from you back in June when they were 2BTC/each.

I would like to take advantage of the promotion of 0.1BTC/each for new ones, based on that order of 50."


No reply back..

feels like I'm getting some cat shit on me too..

The promotion was for previous orders at the 0.99/0.89 price point.  2BTC orders were not included.

I sent him several emails and PMs over the last month because I purchased 50 @ 0.99 price and was expecting updated pricing or 0.1 promo pricing and he has yet to respond to me.

[DeathAndTaxes]

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

[VolanicEruptor]

Oh.. well that kind of blows  
Are any other resellers receiving slow/partial shipments from Friedcat?  Sounds like WTCR is having that problem..  
I hope production isn't slowing down..

Why would you say that it sounds like we are having that problem?   If anything production seems to be picking up from where I am sitting..  As well your promo order is getting boxed up right as we speak..

FC did always say that the promo orders werent immediate,  if anything it was MY decision to jump the gun and say they would be ready for the 15th,  that was my guestimate, we started shipping yesterday so i was off by 4 days..  

Promos are now going out as fast as we can ship them,  back log should be cleared within 2 days.

teek
  

My mistake.. I thought you said that you weren't getting them shipped in fast enough from FC.  
You're definitely on the ball more than others, and I'm probably just used to getting spoiled by your fast service 

[Rebelution]

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

The renter's expected value for the chips is likely not the same as friedcat's expected value for the same chips.

[DeathAndTaxes]

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

The renter's expected value for the chips is likely not the same as friedcat's expected value for the same chips.

Is there 30Th/s worth of "greater fools" out there?

[velacreations]

Is there 30Th/s worth of "greater fools" out there?

People are still buying BFL pre-orders.  Does that answer your question?

[Rebelution]

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

The renter's expected value for the chips is likely not the same as friedcat's expected value for the same chips.

Is there 30Th/s worth of "greater fools" out there?

But why do you think they are necessarily fools?

[AMuppInTime]

unless Vycid is also the trader that repeatedly has been filling buy orders from 3.7 to 3.5 every night (US time), then no, I don't think he's responsible for these price corrections.

That trader most likely has an ongoing deal with the 3500+ share seller (https://bitcointalk.org/index.php?topic=276891.0) for around 3.5 per share and is playing an arbitrage game by selling shares over 3.6 on BTC and buying them for 3.5/transferring them in.

[velacreations]

unless Vycid is also the trader that repeatedly has been filling buy orders from 3.7 to 3.5 every night (US time), then no, I don't think he's responsible for these price corrections.

That trader most likely has an ongoing deal with the 3500+ share seller (https://bitcointalk.org/index.php?topic=276891.0) for around 3.5 per share and is playing an arbitrage game by selling shares over 3.6 on BTC and buying them for 3.5/transferring them in.

I don't think he's transferring them in, but he might be doing some sort of arbitrage like that.  Transferring in takes longer than a day, and unless it is burnside/FC themselves, I doubt it would work exactly like that.

But, it could be someone who has a lot of shares already on the exchange, and is selling his shares in exchange for direct shares.

[Strange Vlad]

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

[Panterino]

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

Yeah, I was thinking the same thing. I don't think friedcat has access to unlimited power and space.

[velacreations]

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

Yeah, I was thinking the same thing. I don't think friedcat has access to unlimited power and space.

power is the big obstacle, and it's the one thing I don't see the upcoming mining competition talking about.  I don't think people realize what it takes to get 10 TH/s online or 50 TH/s, and forget about 500 TH/s.  It's not like just plugging it in to the wall socket.

[chriswilmer]

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

Yeah, I was thinking the same thing. I don't think friedcat has access to unlimited power and space.

power is the big obstacle, and it's the one thing I don't see the upcoming mining competition talking about.  I don't think people realize what it takes to get 10 TH/s online or 50 TH/s, and forget about 500 TH/s.  It's not like just plugging it in to the wall socket.

I always thought of power as a competitive advantage for AM. Presumably Friedcat and co. have a better idea for the infrastructure required to go to 500 TH/s based on their running a 50 TH/s operation for several months already.

[velacreations]

I always thought of power as a competitive advantage for AM. Presumably Friedcat and co. have a better idea for the infrastructure required to go to 500 TH/s based on their running a 50 TH/s operation for several months already.

yeah, I was referring to the numerous new "competitors" out there that fail to include power delivery to their projected 500 TH/s mining operations.

[Strange Vlad]

power is the big obstacle, and it's the one thing I don't see the upcoming mining competition talking about.  I don't think people realize what it takes to get 10 TH/s online or 50 TH/s, and forget about 500 TH/s.  It's not like just plugging it in to the wall socket.

I remember back in June in the russian thread Bitfury used to make quite a big deal of his chips' power consumption.  He used to say that in coming month the power would become more and more important factor, until finally it becomes the most important limiting cost (instead of actual chip or PCB manufacturing costs).  He used to brag about his chips being so "green", and they turned out to be efficient indeed, although not as much as he predicted.  He was even talking about using ASICs to heat his greenhouse garden during winters in a few years, because they would barely pay for the electricity cost, and maybe not even that.

So at least some of that "upcoming mining competition" does take power consumption very seriously.

[DeathAndTaxes]

that's one theory.  another theory is that a significant portion of AM's hash is being rented out.  They peaked around 50 TH/s or so, and are currently around 30 TH/s.

Why would they be renting capacity for less than expected value? 
Why would someone pay more than the expected value of the capacity?

Because it would be more expensive for AM to deploy the capacity themselves than for another party that has access to cheaper power, space and deployment personnel.  Keep in mind that 50TH is FIVE THOUSAND blades.  That's not something easy to deploy, power and maintain.  Also these blades consume 350 kW of power (and dissipate as much heat), which is also quite a big deal to feed and cool.

The 50TH/s has ALREADY been operating.  Unless Friedcat had them hooked up to a giant battery which just ran out of juice I find it hard to believe they suddenly lack the power they did for the last couple months and need 20TH/s of the 50TH/s worth of hardware to a third party has has power.  Now that explanation might make sense if the hashrate didn't rise ABOVE 50TH/s and instead Friedcat announced the next 50TH/s was rented out for some % of the net revenue but that isn't what is being discussed.