Topic: [ActiveMining] The Official Active Mining Discussion Thread [Self-Moderated] - page 52. (Read 771280 times)

Thanks for that, less running around looking for info always helps.

I am still fine with waiting for a distributed exchange for our shares, but only if that means that efforts used to getting us on a normal site are transferred to a distributed exchange, or Ken hiring someone to work on a distributed exchange.

fingers crossed for may

hopefully we can get trading this week

I'm trolling? how long you been here chief?

EDIT: oh yeah. long enough for me to ignore you.

Oh, didn't realize that 

Any opinions on Marc Andreessen's comments? http://bitcoinvox.com/index.php?view=article&article_id=82

"There is a big opportunity to apply custom silicon to mining," Andreessen said. "We're seeing a new wave of chip design around it, which is not something I would have predicted a year ago."

While mining operations can potentially be done on general-purpose chips, Andreessen stressed that Bitcoin mining is much more efficient on custom, specialized silicon.

"Mining is a very specific thing that you can highly parallelize," he said. "So I think that custom mining chips will dominate for quite a while."

He knows. He's trolling

Not yet, supposedly in mid April/May.

so… how's this little experiment/hobby coming along? …we hashing yet?

Just switch it over to BTC. Max profit: 1870 BTC. How did you get $2000?

I can't believe he actually used The Genesis Block for the project projections. It is literally insulting to everyone who's invested with him that he'd spend 2 minutes putting that together. Nevermind that it's completely unrealistic and the numbers don't make any sense.
1. Ken's stated the first wafers will be arriving mid and end of April, with the bulk of the wafers arriving in May. Wafers in May to 1.2PH/s online in May? Keep in mind the only reason that estimate has a 28 day payoff is that it's saying that mining will start May 1 with 1.2PH/s, and make $1.2M.
2. Ken's previously stated the chips themselves will consume 2.5W for 1.9GH/s, or 1.31J/GH. Here he's using an efficiency of 1.31J/GH for the whole system. Where's the DC/DC conversion inefficiency? Additional loads like other chips and fans? AC/DC PSU inefficiency? AC costs at whatever building they're hosted at?
3. With no costs factored in for hosting in a DC and a $0.022/kWh electricity listed, I'd love to know what kind of arrangement he's made for a site with no capital expenditure and at cost electricity.

That he either doesn't have anything more substantive to share, or for some reason instead of presenting real estimates he's tossing this out here as a bone is very disconcerting.

Edit: I'll just leave this here as a cautionary tale.
https://bitcointalksearch.org/topic/m.1157524
This is probably actually the wrong thread for it as it should be in the VNC thread, but buyer beware.

I am seeing $1.3M profit by August, not $2000. http://thegenesisblock.com/mining/a/d9a917bb39

Hey guys, you're all missing the biggest issue with this calculation - it has a 10% conversion rate (USD/BTC) increase per MONTH built in. Remove that and you'll make a whopping $2000 on your $1.3M investment.

You CANNOT allow for an increase in the conversion rate to be factored into mining profitability, as you can simply hold the equivalent in BTC and see the same USD-denominated increase.

EDIT: Seems I missed a digit somewhere. I hope for all of your sake that he actually delivers.

@JoTheKhan:  Whoops ^^  We should reboot Stewartuk to start "Can we haz XCP" poll

Ken, are you looking into XCP? A distributed exchange that has already released command-line implementation and uses proof-of-burn to create the initial alt.

http://www.reddit.com/r/Bitcoin/comments/1wtz2b/2124_btc_destroyed_in_proofofburn/

Just going by the projections he posted.

LOL!  Ken updated VBS's spreadsheet.  I really missed that thing.  Funny stuff.

Jun-14 Cumulative Return = 959.00
May-14 Cumulative Return = 119.00

Difference = 840 BTC mined in 1 month
Total BTC mined in 1 month (3600 BTC x 30 days) = 108,000 BTC

840 BTC / 108,000 BTC = 0.007777 = 0.77 % of hashrate from May to June

Hey, the Colored Coins are coming!  A few more weeks, and they'll be here.  What changed?  When you are not trading, that's 'coz Ken is listening to zum's poll results.  Have fun.

*Do you see that you leave open every option for Ken?
He promised CT.  He didn't deliver because people wanted CC.
When he finally goes with CT?  Well, he promised CT all along.  Win/win.  In your eyes, he can do no wrong.  And you sincerely don't see yourself as an apologist.

1. Colored Coins would have him just send our shares to our address, he wouldn't need to verify anything right? Just check his asset list.

2. The vote convinced Ken to wait for Colored Coins which never came. I told them it was a dumb idea, they didn't listen we suffered a little more.

I don't wanna be called a Ken apologist so I'm gonna leave it at that. I think we should have had our shares back in early January if you ask me, I am just stating the series of events that have led us to where we find ourselves now. Is it Ken's fault, yes, do we have some blame in it? Probably, should it have been done by now? Fuck yes.