Topic: Alydian Announces 5/10TH Systems w/ 65nm Chip (Read 7585 times)

All I said was that is serious hashing power for a single account.   I didn't try to prove anything and I obviously know the difference between team stats and users stats considering I gave the USERID.

it's someone with a lot of hashpower mining under alydian. i don't see anyone wanting to do that besides alydian
they were ordered to pay back btc. this may be how they are going to do so?!

OK my mistake then, but still that proves nothing.

There are team rankings and user rankings.  You should try looking at both. 

That's TEAM RANKINGS...

looks like team Alydian is a single member at 65 THs.   (UserID = 269032)

Interesting...   serious hashing power for a single account.

strange turn of events?! top 5 miner on btc guild!? so, strange this company

It was never confirmed that they had miners online or what chips they were using...   hopefully someone digs into this a writes a good story, would love to hear who got rich from this scam

If they're bankrupt, that means their stuff will need to be liquidated.  What's interesting is that should mean their gear would be sold off to the highest bidder. Problem is miners deprecate so quickly.  Someone is going to get an extremely good deal on this stuff.

interesting indeed

we ve tried to contact them and ask them to propose reasonnable price for their miners,their answers were little bit annoying,giving impression they didn t need to sell their miners

and now this.......

that was interesting........................................

They are most certainly not. I made an inquiry about their 100TH for october almost a week ago and got no answer up to date. IF they are hashing they are doing it into their own pockets right now.

^ this. If anyone has info, I'd like to properly incorporate them into my mining calculations. If they are currently mining, my total network estimates will drop.

So the "end of august" deadline has passed. Is Alydian online? Is anybody renting hashing power?

So, that's where all the missing Avalon chips went?

August delivery according to their website...

Strange coincidence, isn't it?

This is important for everyone with any orders. Can we confirm the link between the two? Are those 1 million chips about to hit the network? Estimates from the leak thread indicate minimum of 4 Ph/s. John K and TheSwede75 show up in that thread confirming they got material confirming the order is legit.

can you tell us more?

i don t know what are you talking about exactly?

YES

ridiculously ridiculous

Prices are ridiculous. No one can afford it.

Most likely then, this leak was about Alydian's order: 1+ million 65nm chips...

Yeah, it seems like a lot of companies out there are trying to scam people who do google searches and aren't really paying much attention to what's going on. BFL is probably the king of this.

You must've been a child prodigy, Rob, doing multiplication and long division in kindergarten.   

A much easier online calculator says:
Mh/s      Difficulty      Coin/Day   $/Coin   Net Profit
1000000   37392768      13.45   102.14   $1373.732

Now, they say in the announcement that btc recently traded at 105, but 13.45 * 105 = $1412.25, which is still only about half of the $2800 figure they mention.

Kinda hard to trust a company that gets such a major detail so wrong in their first press release.

Except, 480 GH/s minirig with 128 chips pulls 2000W from the wall.  So 1TH/s would require 40A circuit.
And the electric bill for 1TH/s would be north of $5K/year

Really, though: who cares?  I few more heat dissipation issues, maybe.  A few more racks of boards needed. But a TH/s is the same, regardless of the physical aspects of the chips, no?

If they started a while back, they can't be at this week's standard.  Ever read the science fiction classic "Far Centaurus"?   

still don't understand the coinlab connection - no funding , no expertise, why?

edit: mixed up labcoin and coinlab

mark

I love how the doc shows a lifetime profit of $666k with a pricetag of $650k.    By 2015, you'll have earned $16K on $650k.  Lets do it!  Group buy anyone?   The later diff increases might be smaller but the diff increases this year will be much larger than the 18% in the doc which is where all the profit is.  Could be looking at $50k less return this year.

I donno.  All I can say is good luck to them.  So many risks out there and some will win and some won't.  I REALLY hope some of mine will win but no one knows right now.

They started a while ago.

I think they already have started and have something more or less in hand, so they want to charge a big premium. The premium is because when they did start a few months back 65nm seemed like a good idea. BFL was having trouble getting there, it beat Avalon's chips and had less associated costs than smaller nm. However now that's potentially not the case so they need to recover NRE costs ASAP, so they need to charge through the nose. ASICminer profiteer from products in hand, so these guys are giving it a try. Their prices will drop massively to compete as they will have to, but they need their NRE back quick fast as their products life cycle is no longer as certain.

Yes, they are doing their own chip.  Not BFL or Avalon AFAIK.

The entire concept of Diff increase and running costs.

They are charging as much as possible with the premium that comes with being Coinlab backed. I bet they will sell out due to new investments rushing to mining and being scared of investing in Avalon/BFL due to their long standing "Fuckup history".

Depends on when they start.

Here is a doc that helps you see your potential return for 10TB

https://docs.google.com/spreadsheet/ccc?key=0AmeuPljmUNHCdDIxcUxNRDAyOU5GWk5IQ2tleXVQSEE&usp=sharing

Crazy rumor time.  This holds no bearing in reality, but would be funny. 

Watch, this is the customer who got craptons of Avalon chips and thought they could bank on stupid people with lots of money paying craptons for hosting mining that has zero guarantee of paying off within the year contract.  Could happen, idiots with money do interesting things.

Yes.  They aren't currently available and they have no web presence/proof.  Who knows when those will no longer hold.  Difficulty continues to rise dramatically (I.e. 20%+).

they claiming that it  s generating near 3k per day that s mean the whole investment is returned in less then 20 days?

have i missed something?

But at the same time any estimation still relies on BTC price staying around $100USD as well as the difficulty increase going at a stable rate.  At latest count we have Cointerra, Hash Fast, Fash Hash, BFL, Avalon, AsicMiner, Labcoin, KNC, and Bitfury all shipping/going to be shipping before the end of the year. 

To place a $350k "bet" that this hosted mining will remain profitable is almost obscene, let alone reasonable.  If BTC value drops to $75 for the next year you'll never profit. 

This also poses some interesting questions as BTC can become a venue for pure investment, no interest in the network, technology, community, or possibilities at all, but another place for VC to dump money.  And if you remember the term "vulture capitalist" that became popular during the last US election season, the type of VC this could attract is that friendly one that dumps money into [industry], maximizes profits for a short period of time, then pulls out entirely and leaves a wasteland behind them, walking off with the profits. 

Kindergarden math would suggest that's wildly inaccurate....

1 block/10mins @ 25coins/block = 3600 coins/day
Network hashrate (now) = 343Th/s

So 1 Th/s (if existing not *adding* to the network) would expect to get 1/343 of 3600 coins/day = about 10 coins/day = about 1000$/day _right now_ with an ever decreasing amount as others add to the network

Some days are better than others (but it all evens out in the end) - a real example - 370Gh/s on 1/August received 4.13 coins, so scaling that to 1TH/s would have been 11.16 coins

If they did end up getting a boatload of chips from BFL, the pricing starts to make sense...kinda...

Tying into CoinHoarder's post above:

So let's say they bought BFL chips and didn't get any sort of bulk discount. To get up to 1TH/s, they'd need 250 chips, costing them $18,750 (not including shipping).

With that as a base cost, they'd still need to get the boards, custom casing (presumably), and cooling in place, which all that alone could double their cost. I have no idea how much these sort of things could cost since it's largely space / efficiency oriented, but let's call it $20k.
 
On top of that, the chips get 3.2 watts per GH/s...3200w for the 1TH/s. Let's shoot for a normal-(ish) $0.15 per kWh price (which would probably be quite high for a datacenter), which would put the cost per month at $345, or $4147 a year.

With that in mind, we're sitting on a cost of $42,897 per terahash per year as it is, not including labor/maintenance, insurance, etc. Throw in a 10% profit margin and I can see how we'd start to approach the $65,000 mark.

I wonder though...do they still charge you $65k per 1TH/s if you wanted to continue mining for another year? If so, then that's just massive profits for them.

They say they have a 65nm chip. Which would mean BFL.

Either way, their prices are totally fucking insane. If their hashing comes online immediately it might be a good deal, but $350k is a pretty huge investment.

If they already have their units online, they may simply be charging whatever it is they think will make them more profit over self-mining.  People are selling Avalon units for $100Btc.   If you have chips on hand, it only makes sense to sell them for more then what you'll get if you self-mine over the next few months.

That is retarded expensive.

Depends on your view of the flowback profile earned by 920GHps net power in a 300T-then-4-then-5-then... network compared to the 620 BTC you spend today for that turnkey solution, doesn't it?

That would make more sense (in regards to pricing) but on the flip side-- why would CoinLab fund that type of project right now.  Possible the deal has been in the works for months and was just a gamble.   It is clearly a bad decision to make today but not 6 months ago.

That is what I charge for hosting that includes all that as well.  CoinHoarder is absolutely correct about that.   I know what it takes to cool and power 5-10 Thash.   What I am saying is that what they are offering is just a nice package of existing ASIC options.  Nothing ground-breaking in the arena of their own chip.

Everyone seems to be forgetting that they host the equipment for no extra costs. This saves a lot of $$$ on HVAC, power costs, and time spent. HVAC/power costs would cost a small fortune for a farm in the range of 5-10Th (especially if these are built on Avalon's power hungry chip design.)

Is 8% APY really that bad? I think it's quite nice considering they do all the work for you.

Yeah, it is funny that kind of stuff stands out to us so quickly.  How have you been Korbman?  You should add me to Skype so we can catch up.   

I wonder if they've gotten the memo that most other mining companies get around $10k (or less) per 1TH/s...or I could just buy from Bitfury or KnC and pay a fraction of what they're asking for the same speed.


Could certainly be the case, and would also help explain their exorbitant pricing model. I'll have to give it another look and edit later.

I am not sure if you picked up it but it looks like they just purchase a batch of Avalon or BFL Chips and are re-packaging them into a solution.  I am leaning towards Avalon.    If you buy a Avalon batch then you get 3 Th per batch.   Nothing suggests that this is there own chip. 

Thoughts?

"
August Availability:

- 5TH/s: $350k
- 10TH/s: $650k
"

Well, won't have to wait long to see if this is true, but prices are out of control.   It should be cheaper per GH when purchasing this much juice but these prices are higher than most ASICs out there today.    

I don't understand, but we will see.

I posted this in this thread.

https://bitcointalksearch.org/topic/m.2885140

The question is would it not be prudent to purchase BTC rather then use this service at this price?



The details below is for the advertised 10TH Aug option.

The following spreadsheet projects the network difficulty increase is constant at 20% or every 12 days and BTC value stays at $100USD each BTC.

That translates to less then 470BTC for the product "profitability".

65 nm   

I'm not being funny, but these days you'd definitely have to pre-order for the Rolling Stones!!

They do not come cheap.

Once, just once, it would be nice to have someone come and not say to us:  "We're the biggest thing since sliced bread, and we'll be kicking it all off, in just two {weeks, months, shakes of lambs tail} or so."

Say and think what you want about Bill Gates, but when they rolled out Windows 95, he had the Rolling Stones there to sing "Start It Up," they clicked the button in the corner, and it did.

Maybe, someday soon...

confusing press release.
confusing "incubator" that offers no money or mentoring.
i should start such an incubator

It's like $70 a GHs

Curious to hear what you guys think about this recent announcement:

http://alydian.co/news/CoinLab-Announces-First-Incubator-Company

ALYDIAN IS FIRST LARGE-SCALE U.S. BITCOIN MINING COMPANY
August 7, 2013, PORTLAND, OR—CoinLab, the first venture-backed Bitcoin company in the U.S., officially launched its newest portfolio company, Alydian.  Alydian is the first to deliver turnkey at-scale Bitcoin mining solutions to customers.

“We are part of a transformation of Bitcoin mining,” said Hans Olsen, CEO of Alydian.  “Alydian has developed an enterprise-scale Bitcoin mining system over the past year and we are excited to announce our capabilities today. The system, based on our first generation 65 nm custom ASIC technology will enable non-technical customers to participate in terahash and petahash-scale Bitcoin mining without worry or technical expertise.  Alydian will begin at-scale operation and hosting in late August.”

Olsen, an industry semiconductor veteran and former CEO of Pixelworks, joins the CoinLab family, led by CEO, Peter Vessenes.  The two comprise a team of other accomplished and respected tech start-up experts drawn to CoinLab’s newest venture.  Alydian will serve as the first of multiple Bitcoin businesses developed internally at CoinLab.

“I am thrilled to have Hans here leading our newest venture,” said Peter Vessenes, CEO of CoinLab.  “Alydian is unique in the Bitcoin mining industry -- it was designed from the beginning to provide turnkey massive scale to customers. We’ve combined proven leadership, visionary strategy and great technologists. It’s going to be a great ride!”

Bitcoin mining turns silicon into money.  Bitcoins are algorithm-based mathematical constructs aggregated into blocks and traded on open global markets.  In order to successfully mine a block, which contains 25 bitcoins, one needs specialized computer setups constantly running the mining algorithm, a protocol designed to protect and secure the Bitcoin network.  Currently, there are roughly 11.5 bitcoins in circulation, 25 more are mined every 10 minutes, and there will be a total of 21 million bitcoins issued.  At time of press, Bitcoin traded around $105.

Alydian’s launch-day pricing was $65,000 per Terahash, a technical unit of capacity for Bitcoin miners. At time of press, each Terahash returned approximately $2,800 per day in earnings.

About Alydian
Alydian is a portfolio company of CoinLab, the first venture-backed Bitcoin company in the U.S. Alydian delivers enterprise-scale turnkey Bitcoin mining installations for qualified customers.

Send an E-Mail with ToutAlydian is hiring in our Portland office: [email protected]

About CoinLab
CoinLab, the first venture-funded Bitcoin company, is a Bitcoin business incubator that builds businesses that provide fundamental infrastructure for Bitcoin. Partnerships with top-tier industry executives in the fields of hardware, finance, payments and insurance make CoinLab a global leader in revitalizing existing industries. Join the Bitcoin Revolution.