Topic: [ANN] xCrowd*US/UK*TH/s+ Units - page 30. (Read 49040 times)

Thanks for the support everyone. We will be posting a regular newsletter which should be set-up by Tuesday for all those interested in updates by xCrowd.

Although it will be quite some time before we ship, we will have some necessary redundancies/ customer insurances in place if the difficulty does reach past 200 MM before we ship our first batch.

More will be explained as soon as we get the green light from our supply chain partner along with some other interesting announcements.

Modular 75 GH/s (Nominal)  Rack Teaser

I wish you the best, I'll be watching 

we are all watching you attentively.

I'm guessing you haven't read the thread. They will need reduced fees way past August for this to be an attractive offer...

you can also try my escrow. see sig. low fees till 31 Aug.

Thanks for the link, that's honestly pretty amazing. I knew bits of it before, but fully understand that now.

Basically looks like they don't fully trust John K, or don't want him having the sole final decision in whose favour to release funds, though that could be due diligence on their part assuming they have never met the guy...

here is the link to the above: https://blockchain.info/wallet/escrow

What are Multi-signature transactions?

Typically Bitcoin transactions are sent to a single bitcoin address and anybody with the corresponding private key can then spend the funds. With multi-signature transactions you can add up to 3 different bitcoin addresses as recipients. In order to be able to spend the funds, approval is required from a chosen number of those recipients.

How can they be used for Escrow?

Bob is providing a service for Alice, they have agreed that the funds will be placed in escrow until Bob has completed the work. Alice creates a 2 of 3 multi-signature transaction adding herself, Bob and a trusted 3rd party as recipients. As this transaction requires at least two signatures to redeem, Bob cannot spend the funds without Alice's permission and likewise Alice cannot reverse the transaction without Bob's approval. The funds are in "limbo" until Bob fulfills his obligation and an agreement is reached. If Bob and Alice cannot reach an agreement they can call upon the 3rd party arbitrator to decide what the outcome of the transaction should be. Note the 3rd party arbitrator also cannot move the funds without approval from either Bob or Alice.

What are the advantages of Multi-signature Escrow?

Zero-trust - Typically Escrow transactions require a 3rd party to be put in control of the funds. With multi-signature escrows no 3rd party trust is needed and Bob and Alice do not necessarily need to involve a 3rd party if the transaction goes as intended.

Decentralized - The transaction is recorded in the Bitcoin blockchain and distributed around the p2p network. No centralized authority is needed to process the transaction and it cannot be blocked or reversed.

Anonymous - No contact information is needed and no signup is required.

Low Fees - Fees are typical of a normal bitcoin transaction. Currently 0.05 BTC per transaction which will be reduced even further in the future.

Well they actually announced in April, so I believe that was gauging interest, this may still be, but they should have something more concrete to show by now if they are serious.

They were advertising for ASIC developers back then as well, looks like no one has bitten just yet, so not sure how we can be so confident they have the finance to hand either.

The website and renderings have come along way though.

In any case if serious I can check them out, as I'm UK based as well...

What's the deal with multi-sig escrow? Why does he want that as opposed to what, non-multi-sig escrow? What does this allow him to do as opposed to other kinds of escrow?

Very much interested and Escrow.com is a must and very reputable. I will buy for sure if Escrow.com is available.

Will be watching thread and website for updates.

Good Luck and keep us in the loop!!

I hope this project has legs to run. I'll keep an eye on this thread and I intend to buy one Xcrowd 30 GH/s Pavonis Bitcoin miner, if I'm still alive at that time.

Good luck for your project, xcrowd.
Best regards.

If you deliver these on January 1 when the Difficulty will be 227M

0.066 BTC a day will be the yield for 30GH

85 days ROI assuming no change in BTC value


Just FYI

Yes, they have advertised a price and a hashing rate.

So if they deliver today, you can actually calculate your return for a few weeks at least.

If they deliver in 3 months, the hashing rate will have gone up considerably. If they deliver in 6 months, they shouldn't even bother.

What I'm saying is, why announce now something that isn't going to be available for months and months? People want equipment now, not in 6 months time.

Why do you keep posting this everywhere? There is nothing to announce. No product. Nothing to mine with today. Who cares what you might produce in 6 months. Nobody.

They haven't asked for anything yet, and say that when they do it will be in escrow form.  Nothing to complain about.

So sick of people advertising vaporware. Its the same story from everyone.

"We have this amazing mining product but just one catch. It doesn't exist yet. Give us your money and we will build it for you."

When is someone going to start acting like a real business and deliver a product they have actually made and can deliver?

Wild wild west.

xCrowd Announces New Bitcoin Miner
http://decentralizedhashing.com/2013/07/xcrowd_announces_new_bitcoin_miner/

^Reddit

This is actually quite comical since looking at almost every post you have made so far on this forum is doing exactly this to other potential or current hardware companies such as KnC, ASICMiner and BFL.  Even referencing $12/GH as the spot hardware manuf. need to be in some posts before this thread was even started.  Looks to me like the pot is calling the kettle black.