ASICMINER: Entering the Future of ASIC Mining by Inventing It

[Mabsark]

I filled some numbers into mining calculator and it's true that current ASICminer TUBE with gen3 chips will become obsolete in just one month from now? Do we have like 60Ph of these ? ? ?

Oh, you filled in some numbers on a mining calculator did you? What number did you use for the price of the miners? Let me take a quick guess - the retail price? What number did you use for power costs? 0.15 $/kWh?

Now, can you tell me the problem with that scenario?

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[bitcoin.newsfeed]

I filled some numbers into mining calculator and it's true that current ASICminer TUBE with gen3 chips will become obsolete in just one month from now? Do we have like 60Ph of these ? ? ?

Oh, you filled in some numbers on a mining calculator did you? What number did you use for the price of the miners? Let me take a quick guess - the retail price? What number did you use for power costs? 0.15 $/kWh?

Now, can you tell me the problem with that scenario?

Price of miners : 100$
Power costs : lower end what Friedcat said, so 0.12 $/kWh
delivery cost : 0$
setup cost : 0$
maintain cost : 10$/month
diff rise : 10%

and still you are unable to even break-even that 100bucks, retail price is four times more, any more questions? 

go ahead : https://bitcoinwisdom.com/bitcoin/calculator

[hdbuck]

@bitcoin.newsfeed Nothing against you, you used to be more enthusiastic, if you are not happy and bought at 1BTC your shares, it is your mistake, not FC's. Whatever, sell or not, pissed or not, you are just helpless.

[Mabsark]

I filled some numbers into mining calculator and it's true that current ASICminer TUBE with gen3 chips will become obsolete in just one month from now? Do we have like 60Ph of these ? ? ?

Oh, you filled in some numbers on a mining calculator did you? What number did you use for the price of the miners? Let me take a quick guess - the retail price? What number did you use for power costs? 0.15 $/kWh?

Now, can you tell me the problem with that scenario?

Price of miners : 100$
Power costs : lower end what Friedcat said, so 0.12 $/kWh
delivery cost : 0$
setup cost : 0$
maintain cost : 10$/month
diff rise : 10%

and still you are unable to even break-even that 100bucks, retail price is four times more, any more questions?  

go ahead : https://bitcoinwisdom.com/bitcoin/calculator

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

The point I was making was that you don't have the necessary information to make such concrete declarations and you never will. There are just too many variables to consider.

Also, FC didn't say that current power costs are 0.12 $/kWh.

16) Previously our Asicminer farm was mining bitcoins and distributing a weekly dividend, will Asicminer update its present hash rate in the mining farms to account for current difficulty changes and to procure a secondary supply of Bitcoins to adapt for rapid changes in Bitcoin prices?

Yes. But that should be when we replace the farm with BE200 based devices, otherwise it is no point considering the 0.12-0.15$/kwh electricity price we get for our old farms.

That's just the electricity price they were getting for their old farms. Says nothing about the new farms. Then we have this:

Update
1. Due to the relatively lower interest from individual miners as well as OEM producers, the self mining has re-started from middle of July. We had gain access of cheap electricity and high power capacity. We hope to regain the average hashrate percentage similar to 2013 with this generation of chips.

[Bonam]

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.

[RoadStress]

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.

And with the $500 exchange rate.

[webbrowser]

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?

[Mabsark]

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.

Good luck with pretending that any fixed percentage difficulty increase is realistic. Also, with bitcoin prices so low, small difficulty increases are more likely than large ones.

Edit: The last 10 difficulty increases with oldest first are as follows:

18.10%
12.44%
14.51%
24.93%
3.08%
8.08%
5.30%
20.86%
15.03%
8.75%

The next difficulty increase is looking to be around 9.3% at the moment.

[NotLambchop]

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

In other words, substitute reality with ridiculous fiction, and suddenly the math works.

In your defense, over the last couple of years, we did have a difficulty increasing of 5% or less.  ONE.  https://bitcoinwisdom.com/bitcoin/difficulty

[jjdub7]

Now go ahead and change the bitcoin price from sub $400 to $500 and the difficulty increase to 5%. Oh look, Tubes break after after 34 days. Cool!

Good luck with the 5% difficulty increase.

Good luck with pretending that any fixed percentage difficulty increase is realistic. Also, with bitcoin prices so low, small difficulty increases are more likely than large ones.

Edit: The last 10 difficulty increases with oldest first are as follows:

18.10%
12.44%
14.51%
24.93%
3.08%
8.08%
5.30%
20.86%
15.03%
8.75%

The next difficulty increase is looking to be around 9.3% at the moment.

Wisdom's projecting ~18% - is that according to BitcoinCharts?  In my experience, Wisdom's been a bit more accurate.  I think charts uses a simple moving average while Wisdom uses a first-order expansion or similar based on the 504-moving average

[DebitMe]

Did anyone ever figure out who the private backers were for the data tank project?  I think its safe to say that the data tank guys knew the AsicMiner guys as most of Data Tanks prospectus was based off of the BE200 chip.  Has anyone explored if Friedcat was the mysterious backer who bought up all the shares and they are currently working to setup and deploy these immersion cooled tanks?
It wouldn't be too far fetched that what is on BTCguild right now is more of a proof of concept, trying it out in small scale before finalizing the full tank design, and if I remember correctly the timeline that data tank would be operational is coming around soon.

Not speculating or anything, was just wondering if anyone had thought of this or explored whether or not Friedcat could be one of the mysterious backers of this project?

[Mabsark]

Wisdom's projecting ~18% - is that according to BitcoinCharts?  In my experience, Wisdom's been a bit more accurate.  I think charts uses a simple moving average while Wisdom uses a first-order expansion or similar based on the 504-moving average

Yeah, that's based on BitcoinCharts.

[RoadStress]

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?

Because I don't live off bitcoin.

Wisdom's projecting ~18% - is that according to BitcoinCharts?  In my experience, Wisdom's been a bit more accurate.  I think charts uses a simple moving average while Wisdom uses a first-order expansion or similar based on the 504-moving average

Yeah, that's based on BitcoinCharts.

BitcoinWisdom has the best predictions. Don't follow bitcoincharts.

[trek27]

Has anyone explored if Friedcat was the mysterious backer who bought up all the shares and they are currently working to setup and deploy these immersion cooled tanks?

Not speculating or anything, was just wondering if anyone had thought of this or explored whether or not Friedcat could be one of the mysterious backers of this project?

If officially confirmed this would be great news - especially that AM will need a lot of capacity for gen4.

[Mabsark]

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?

Because I don't live off bitcoin.

More to the point, why are you spending thousands of dollars on pre-orders if you think the bitcoin price is going to continue to fall?

[jdany]

It's getting bloody out here.
How about some help from those who can help.

FC?
Someone from the board?
Mommy?

[Blazed]

It's getting bloody out here.
How about some help from those who can help.

FC?
Someone from the board?
Mommy?

Once it is down to .08 I might even buy some shares!

[RoadStress]

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?

Because I don't live off bitcoin.

More to the point, why are you spending thousands of dollars on pre-orders if you think the bitcoin price is going to continue to fall?

I'm spending magic internet money on pre-orders, not dollars.

[AllInBit]

And with the $500 exchange rate.

If you forecast a permanently sliding exchange rate, what are you doing holding btc?

Because I don't live off bitcoin.

More to the point, why are you spending thousands of dollars on pre-orders if you think the bitcoin price is going to continue to fall?

I'm spending magic internet money on pre-orders, not dollars.

Maybe im wrong but, doesnt it take dollars to produce "magic internet money"?  I dont see much of a difference.

[RoadStress]

Maybe im wrong but, doesnt it take dollars to produce "magic internet money"?  I dont see much of a difference.

Not after a certain level.