Topic: 150k USD startup budget. Help needed! (Read 3761 times)

That run up is all the more interesting because it coincided with the banking crisis in Cyprus, where there was a clear, present, and, ultimately, not totally unfounded threat to large foreign deposits (a large plurality of which were Russian, of reported questionable origins).

If it did happen that there were large BTC purchases as flight from "hard" currencies (I know, "fiat," but until they no longer trade trillions of USD per day in the open markets, they are real currencies), or as flight from such bank accounts, it would have been one of the first instances of true, large demand for BTC rather than flow from  speculative scalp trading of the xRate.

And that, again, if it happened, speaks well for the value of BTC if and when adoption and acceptance spreads to a critical mass.

Maybe contact Yifu and see if you can do a big block order like horserider did.

if i had 150k to invest i'd maybe buy 1 or 2 in hand avalons and buy btc with the rest and then buy AM shares in auction on this forum n btct...but that is just me...I'm crazy like that

but good luck to you and i hope you don't lose any money

I tend to disagree with both of the bolded statements.  With regards to the first one, ~3600 coins a day is ~3600 coins a day and it will be ~3600 coins a day until the next BH.  There is already a percentage of mined coins that are turned in to fiat quickly from miners so technically all that can happen is that percentage increases by a variable/unknown amount.  I think you are over valuing the miners contribution to the price of BTC.  11+ million coins, a 1+ billion USD market cap should be able to absorb any "extra" coins being turned into fiat quite easily with little to no affect on the price IMO.

With regards to the second one we are only hovering around the $100 range because that is the value currently set by the market and the market demands.  If a shit ton of coins hit the market somehow the price will drop, if supply slows down the price will go up.  Remember we flirted (or did we actually hit $300 usd) which is much more "psychological" than $100, remember not everyone has been around since $3.00 or $10.00 coins.

 I would suggest to stay away from machines with that kind of money . The difficulty just rises up all the time and your ROI would be very long whereas you can have a start-up that takes bitcoin as a payment or even basically selling and buying is more than enough.

 When you buy 100k worth of bitcoins at 98 and sell it 102 , thats enough profit to keep going on that path

You should use them to cooperate with some university researchers to get the next generation quantum mining chips out  

Or you just buy bitcoin with those money, average down

If I had 150k, I would work on designing a highly efficient FPGA.  Then maybe turn it into an ASIC chip with FPGA to ASIC Conversion.


OR I would do DIY ASIC like Avalon.  Chips are ~100k USD, hundreds of PCB run in thousands range.

This.

The guy knows what he's talking about, he have run a big mining op.

And I'll give you some for free, which will be worth every penny you pay for it.

By autumn, 150K will likely buy you, retail off the rack, between 10 and 15 Thps.  By then (think Avalon, KnC, bitfury coming online in force, and BFL at their rate) the network could easily be as high as 750 to 1000 Thps.  You would then be, at that rate, somewhere around (1/10)% of the network, or somewhere around 4 (rounded) BTC per day.

At that constant rate, and under $100 BTC xRate, you would be looking at around 50 weeks for gross revenue to cover capital investment.  Alternatively, you could back-of-envelope pro forma 1000 Thps steady state for the network, and thus, use that 4 BTC as a "constant" rate.

Money for Nothing and Chicks for Free is in it's final few weeks of run.  Make sure you and/or your investors understand bitcoin mining is rapidly morphing, best-case, into an attractive-to-some, reasonable-risk-adjusted return business.    

In that case I sincerely look forward to seeing what you have to offer and apologise for any crossed wiring. Best of luck, again.

I genuinely wasn't hinting at anything. I think the amount of hours you've spent on this forum is clouding your judgement. We'll welcome the scrutiny once we start marketing anything. The reason why I've invested in our own chip development is simply because none of the previous suppliers were up to the standards we usually expect in the world outside of Bitcoin.

Who was underhand, me, or you? I know I wasn't. I just stated facts. You just alluded to me having a less than innocent intention, which is crap, and totally underhand. Follow my posting history. I started out on this forum busting scams. There's nothing to bust with KnC, so don't cry foul play on my part there. Me visiting them is just my commitment to due diligence on my part. My sharing of that info, is nothing more than I attended and others have a right to know what went down. Nothing untoward there, they have talent, fact. I'd sure as hell visit you before investing, because you're appearing on this scene as a nobody. If you're not a scam, there is nothing to worry about, and you'll undoubtedly do your best to provide evidence to the contrary. Just be aware that people are jaded with BS, and no one knows who you are, or your intentions. You've yet to meet Phinneaus Gage and have him scrutinise you...

28nm, in a few months, with sub $1,000 products is a bold claim from Industry experts, let alone a rag trader from Birmingham. Why do you have an issue with me questioning that?

If you think that's someone being anything less than cautious, I suggest you be less sensitive, because any proposal you follow through here will be torn to pieces and every minor aspect questioned. Your partners better be comfortable with that as well, as people are going to want to know everything you care to share that is not sensitive competitively speaking.

Good luck, genuinely I want to see more European representation, and being British as well am waiting with anticipation and an open mind...

How did you get $150k without having any idea what you were going to do with it?  Pay me some % as a consultant and I'll give you some advice.

Personally my belief, and I've said this several times, but as it requires some start-up capital to afford a developer. Be creative and think of a way to offer products and services (does not have to be mining related) that will accept Bitcoins as payment.

That is still very much virgin territory with respect to mainstream acceptance, get that first mover advantage in place and help increase and stabilise Bitcoins value as a currency. You could potentially profit wayy more than becoming another ASIC player.

Look at what other websites exist online that except soley fiat and look for opportunities and improvements in having such ideas embrace crypticurrencies...

Quite a bit underhand there. By the way, that wasn't meant as a snipe but that got under your skin for some reason.

Working on anything below 65nm isn't a garage operation and we worked that out quite a long time ago. Most the R&D is currently being outsourced to a design partner with close ties to the foundry we'll be using.

All that matters is time to market and price and with the added value of a lack of a risky pre-order deposit we haven't got much to worry about.

The power of ASICs over GPUs is the Elec. that the GPUs use. Find a crazy stupid, almost free source of Elec. and video cards could more than hold their own against ASICs and could be in service right now. Think outside the box.

Hi!

You can join us if you want to make a new ASIC. We are currently developing one and would accept investors.

PM us if you're interested.

Regards!

I was polite, but I'll take that as a snipe.

So what if I have a vested interest in KnC?! I've been encouraging wherever else is legitimate, and have a 100% success rate at calling out scams so far.

I'm not saying you are a scam, yet. I am saying I'd genuinely like to see a UK entrant 'Abdi Mahamud'.

As for your grand claims, you're a retail clothing re-seller (apparently now an ex-retail clothing re-seller) from Birmingham that, in your own words have promised;

- 5-6 months when working on 28nm ASIC designs and 3d packaging ip cores.

- Sub $1, 000 products will be in the same range of hashing power as Avalon and BFL current releases.

- Products that will return a ROI in 30-45 days depending on the network.

By all means deflect any interest I have in seeing a genuinely competitive ASIC development environment proven to exist without scamming other members, by alleging my sole allegiance is to that of one of the few credible entrants. Which is total bullshit.

I rate Bitfury, I admire Yifu, I'm happy to see BFL customers finally start to receive goods. Your above claims are wild to say the least unless you have a real engineering firm working with you on this. I don't see where you experience has forged those connections. Prove that to us if you want investment, and don't snub me from a trade show because I'm keen to see the scams with ASICs laid to rest!

You were happy to speak with me a couple of months backs when I expressed interest. You appeared on the scene around the same time as asicrigs.com, asic-technologies.com, and Cedartec. All of which I busted. If you've got nothing to hide, I'll happily write a positive report to the contrary, just like I did when I attended KnC's open day as long as the evidence stacks up. I certainly did not to that for KnC, wasn't paid by KnC, it was part if my iterative process in deciding to proceed with a vested interest, and I wanted to give something back to the Bitcointalk forum after becoming excited with what they had to offer, and likewise would be the same for you, as I live in the UK. Besides which, my attention to detail has kinda gone down pretty well with the community here...

Scams are still very much prevalent, the following appears to be asicrigs.com all over again. They were also UK based;  https://bitcointalksearch.org/topic/has-anyone-ordered-from-httpbtcminingrigcom-241380

Care to provide some information to those who are interested?

For now it seems I will be holding onto my lovely FIAT until such time someone can convince me that they have a good product.

Thank you for all the feedback, really appreciate it.

If I was bothered I'd ask what these grand claims were since we haven't claimed anything yet. When we do; we'll be more than happy to assist in reasonable due diligence inquiries and invite others who aren't vested in KNC and etc to meet us at the trade shows we attend.