ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1014.

Fabrizio89

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Quote from: sngwinner on June 06, 2013, 12:57:29 PM

This may be bitcoin 101 that I just missed but it would be great if someone could flush out some justification to what Friedcst said about transaction fees becoming a bigger part of the reward for mining a block. Why is it that this will happen? 15 btc per block seems like a lot in fees. What sort of fee per transaction would that equate to?

I'm wondering about this too. With BTC being widely adopted, its value would have to increase to support a dramatic boost in demand and usage. If that's the case, transaction fees will be lowered as its value goes up.

sngwinner

full member

Activity: 432

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This may be bitcoin 101 that I just missed but it would be great if someone could flush out some justification to what Friedcst said about transaction fees becoming a bigger part of the reward for mining a block. Why is it that this will happen? 15 btc per block seems like a lot in fees. What sort of fee per transaction would that equate to?

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

Quote from: ?? on ??

Quote from: romerun on June 06, 2013, 08:36:39 AM

no doubt, BFL is no go, Avalon is shady, at this point Bitfury and Kncminer are the only threat to AM wealth.

Dangerous assumption, for all we know Intel could launch a 10x more efficient chip tomorrow and Nvidia announce a competing product Monday morning. Screw marketing, numbers talk here and AM could get drowned out overnight if one of the big firms wants a piece of the pie but AM have experience, a head start and a rock solid reputation so my moneys on them for the long run.

EDIT: Thanks for the update

not until walmart start accepting btc

boyohi

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Activity: 182

Merit: 100

Quote from: tinus42 on June 06, 2013, 12:43:00 PM

Strange. I thought Friedcat's update would generate a lot of reactions but instead it has been rather quiet in this thread.

Thank you for the update Your Friedness!

Looking forward to next week's divs.

Maybe everyone is still at work.

wtfvanity

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Activity: 504

Merit: 500

WTF???

Quote from: friedcat on June 06, 2013, 10:23:38 AM

The delay of confirmation of this week's dividends is caused by the payments of real
dividends are chained after the satoshi transactions, which are now refused by most
of the clients. We will either stop the satoshi payments, or unchain the payment in our
modified scripts.

Does anyone care if this happens? Just send the div's!

tinus42

hero member

Activity: 784

Merit: 501

Strange. I thought Friedcat's update would generate a lot of reactions but instead it has been rather quiet in this thread.

Thank you for the update Your Friedness!

Looking forward to next week's divs.

JSMill

newbie

Activity: 56

Merit: 0

We are so lucky to have such a smart team running this company. Thanks for the update!

neilol

sr. member

Activity: 302

Merit: 250

Thanks for the update fried!

Good news

Franktank

hero member

Activity: 560

Merit: 500

Quote from: friedcat on June 06, 2013, 10:23:38 AM

Update

The wafer of the first half (100TH/s) of next batch is to be out of fab.
More than 4,000 USB devices are sold out in total.
The demand of blades are surprisingly long-lasting and still high.

With respect to the mining business, we have never seen it as a drying up one
in spite of persistent block halving. If Bitcoin ever rises as a successful currency
in a few years, and the transaction fee has to be, say, 15BTC each block on average,
to prevent attacks from organizations that are all over the world and begin show
up when Bitcoin flourishes, what we could expect is 27.5BTC per block after the
next block halving, and more than 15BTC forever in the further future.

The shares "missing" are those missing from the original GLBSE database when we got
them. Some people had failed to report their Bitcoin address. Among them, several ones
successfully redeemed their shares after we mailed them for the address info. But the
rest failed to mail back.

The delay of confirmation of this week's dividends is caused by the payments of real
dividends are chained after the satoshi transactions, which are now refused by most
of the clients. We will either stop the satoshi payments, or unchain the payment in our
modified scripts.

Thanks! Always a pleasure to see your updates! Again, thanks for all your hard work and keep it up!

friedcat

donator

Activity: 848

Merit: 1005

Update

The wafer of the first half (100TH/s) of next batch is to be out of fab.
More than 4,000 USB devices are sold out in total.
The demand of blades are surprisingly long-lasting and still high.

With respect to the mining business, we have never seen it as a drying up one
in spite of persistent block halving. If Bitcoin ever rises as a successful currency
in a few years, and the transaction fee has to be, say, 15BTC each block on average,
to prevent attacks from organizations that are all over the world and begin show
up when Bitcoin flourishes, what we could expect is 27.5BTC per block after the
next block halving, and more than 15BTC forever in the further future.

The shares "missing" are those missing from the original GLBSE database when we got
them. Some people had failed to report their Bitcoin address. Among them, several ones
successfully redeemed their shares after we mailed them for the address info. But the
rest failed to mail back.

The delay of confirmation of this week's dividends is caused by the payments of real
dividends are chained after the satoshi transactions, which are now refused by most
of the clients. We will either stop the satoshi payments, or unchain the payment in our
modified scripts.

kibblesnbits

hero member

Activity: 557

Merit: 500

Quote from: miTgiB on June 06, 2013, 09:25:05 AM

Quote from: vesper39 on June 05, 2013, 11:04:48 PM

what if you live dividend to dividend and a delay in confirmations means no funds for rent.

You should adjust your life to cope with this. Living paycheck to paycheck with no emergency fund is not very sound. You could have sold a share or two if this was really such a problem.

Enough with the fodder.

miTgiB

full member

Activity: 251

Merit: 100

Du hast

Quote from: vesper39 on June 05, 2013, 11:04:48 PM

what if you live dividend to dividend and a delay in confirmations means no funds for rent.

You should adjust your life to cope with this. Living paycheck to paycheck with no emergency fund is not very sound. You could have sold a share or two if this was really such a problem.

michaelGedi

sr. member

Activity: 364

Merit: 250

"to be or not to be, that is the bitcoin"

Quote from: philipma1957 on June 06, 2013, 08:30:37 AM

Quote from: romerun on June 06, 2013, 08:17:11 AM

Quote from: lophie on June 05, 2013, 09:36:51 PM

I just read the BFL for ASICMINER two pages ago and I would like to add my take on this. I got myself a BFL single 60GH for 18.2BTC with some of my ASICMINER "dividends" instead of buying more shares (of course I did with most of the rest of the divs!).

The idea was, as a miner, it doesn't matter how profitable ASICMINER as a whole it is just how much hashing power it provides per share. The extra point here is ASICMINER is increasing mining power per share, and doing it easier, faster and cheaper than other companies do. Plus the hardware sells of course.

Now as a diversification attempt I got myself 18.2BTC/60GHps=3.296703297GHps per BTC, It was a gamble on the future that BFL would not be "that" late that 1 share of asicminer would reach 3.296703297*2.4=7.912087912 GHps before the mining device arrive and I start hashing with it, of course I accounted for the divs happening in that time.

If this gamble were in my favor it would be more profitable that I got that miner instead of buying "more" asicminer shares with those 18.2BTC.

This is what I did. Please tell me where I am fundamentally flawed and I deserve to be "deeply fried" <-(got the reference Wink

)

flaw is, once you've got 60GH, it's fixed at 3.29x GH / BTC, but AM hash / BTC will keep rising till the end of the world

Flaw is bfl has yet to prove they can build a working single no less ship it quickly.

As for jalapenos BFL is now up to JULY 20 of 2012. Yesterday they shipped up to July 3rd of 2012. That is 14 days of back orders in 1 day. At this pace BFL will be caught up to June of this year in about 25 to 30 days.

I ask again when BFL is selling a 5GH machine for 2.5 BTC with a 1 week wait what is AM's counter plan. As of today AM's blade is 30BTC for 10GH. AM's usb stick is 60BTC for 10Gh

LINK to current Jalley status

https://forums.butterflylabs.com/content/136-wednesday-6-5-2012.html

I am not a BFL fan AM has been a better company so far and as I said they made some coins for me. BFL has held money for me so far.

I am asking for AM to make a hardware move . Or an announcement. I will post BFL jally updates each day. Obviously this may be a desperate attempt by BFL to get new orders and they may only be able to build 1000 Jallys and stall. I get that. Still needs to be monitored daily as jallys are moving out to customers.

you're asking in the wrong place, none of us know the answer... but thanks for bringing it up.

Send franktank a PM in order to get this question added to the FAQ that he/TAT etc will be sending to friedcat

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

no doubt, BFL is no go, Avalon is shady, at this point Bitfury and Kncminer are the only threat to AM wealth.

philipma1957

legendary

Activity: 4326

Merit: 8899

'The right to privacy matters'

Quote from: romerun on June 06, 2013, 08:17:11 AM

Quote from: lophie on June 05, 2013, 09:36:51 PM

I just read the BFL for ASICMINER two pages ago and I would like to add my take on this. I got myself a BFL single 60GH for 18.2BTC with some of my ASICMINER "dividends" instead of buying more shares (of course I did with most of the rest of the divs!).

The idea was, as a miner, it doesn't matter how profitable ASICMINER as a whole it is just how much hashing power it provides per share. The extra point here is ASICMINER is increasing mining power per share, and doing it easier, faster and cheaper than other companies do. Plus the hardware sells of course.

Now as a diversification attempt I got myself 18.2BTC/60GHps=3.296703297GHps per BTC, It was a gamble on the future that BFL would not be "that" late that 1 share of asicminer would reach 3.296703297*2.4=7.912087912 GHps before the mining device arrive and I start hashing with it, of course I accounted for the divs happening in that time.

If this gamble were in my favor it would be more profitable that I got that miner instead of buying "more" asicminer shares with those 18.2BTC.

This is what I did. Please tell me where I am fundamentally flawed and I deserve to be "deeply fried" <-(got the reference Wink

)

flaw is, once you've got 60GH, it's fixed at 3.29x GH / BTC, but AM hash / BTC will keep rising till the end of the world

Flaw is bfl has yet to prove they can build a working single no less ship it quickly.

As for jalapenos BFL is now up to JULY 20 of 2012. Yesterday they shipped up to July 3rd of 2012. That is 14 days of back orders in 1 day. At this pace BFL will be caught up to June of this year in about 25 to 30 days.

I ask again when BFL is selling a 5GH machine for 2.5 BTC with a 1 week wait what is AM's counter plan. As of today AM's blade is 30BTC for 10GH. AM's usb stick is 60BTC for 10Gh

LINK to current Jalley status

https://forums.butterflylabs.com/content/136-wednesday-6-5-2012.html

I am not a BFL fan AM has been a better company so far and as I said they made some coins for me. BFL has held money for me so far.

I am asking for AM to make a hardware move . Or an announcement. I will post BFL jally updates each day. Obviously this may be a desperate attempt by BFL to get new orders and they may only be able to build 1000 Jallys and stall. I get that. Still needs to be monitored daily as jallys are moving out to customers.

romerun

legendary

Activity: 1078

Merit: 1002

Bitcoin is new, makes sense to hodl.

Quote from: lophie on June 05, 2013, 09:36:51 PM

I just read the BFL for ASICMINER two pages ago and I would like to add my take on this. I got myself a BFL single 60GH for 18.2BTC with some of my ASICMINER "dividends" instead of buying more shares (of course I did with most of the rest of the divs!).

The idea was, as a miner, it doesn't matter how profitable ASICMINER as a whole it is just how much hashing power it provides per share. The extra point here is ASICMINER is increasing mining power per share, and doing it easier, faster and cheaper than other companies do. Plus the hardware sells of course.

Now as a diversification attempt I got myself 18.2BTC/60GHps=3.296703297GHps per BTC, It was a gamble on the future that BFL would not be "that" late that 1 share of asicminer would reach 3.296703297*2.4=7.912087912 GHps before the mining device arrive and I start hashing with it, of course I accounted for the divs happening in that time.

If this gamble were in my favor it would be more profitable that I got that miner instead of buying "more" asicminer shares with those 18.2BTC.

This is what I did. Please tell me where I am fundamentally flawed and I deserve to be "deeply fried" <-(got the reference Wink

)

flaw is, once you've got 60GH, it's fixed at 3.29x GH / BTC, but AM hash / BTC will keep rising till the end of the world

eltopo

full member

Activity: 230

Merit: 100

Quote from: fiaskow on June 06, 2013, 07:41:14 AM

And there are obviously some owners via PT shares, like me.

There are only direct shareholders listed.

The direct shares from the PT operators should of course be included.

fiaskow

newbie

Activity: 23

Merit: 0

Quote from: SmiGueL on June 06, 2013, 06:45:43 AM

Quote from: tinus42 on June 06, 2013, 06:31:24 AM

Quote from: eltopo on June 06, 2013, 03:20:23 AM

I tried myself to create a list with AM shareholders based on yesterday's dividends:

https://docs.google.com/spreadsheet/ccc?key=0AtqphFCP56ordGVCakJxSU90MlB4MlBkZENya25pS2c

I got > 398k of the 400k shares. If you find any errors please let me know!

I saw my address. Amazing that there are only 428 shareholders and only 30 guys who have only a single direct share, me included.

There are 1076 shares left/missing in this sheet, so technically there could be 1100+ shareholders with just 1 share Wink

And there are obviously some owners via PT shares, like me.

Lohoris

hero member

Activity: 630

Merit: 500

Bitgoblin

Quote from: Luckybit on June 06, 2013, 04:59:04 AM

Quote from: Lohoris on June 06, 2013, 04:34:37 AM

It doesn't matter how much you earn or need or spend.
The whole point is that you should be able to save at least "one cycle" of money, as a fallback in case the next cycle gets delayed.

So if you live off your dividends, fine, but you should save at least one week of them, to be used in case next week comes later.
That's so obvious and natural I fail to see how can you miss it.

What if you cannot afford to do that? What if your electric bill has to be paid?

If you have exhausted your reserves, you have already fucked up.
No point in crying about a delayed dividend, you should have acted sooner.

By the way, if you really have such an urgency, you can still sell 1 share, which is definitely worth more than 1 dividend, pay your bills, replenish your reserve, and you'll buy it back when you can.

SmiGueL

sr. member

Activity: 322

Merit: 252

Quote from: tinus42 on June 06, 2013, 06:31:24 AM

Quote from: eltopo on June 06, 2013, 03:20:23 AM

I tried myself to create a list with AM shareholders based on yesterday's dividends:

https://docs.google.com/spreadsheet/ccc?key=0AtqphFCP56ordGVCakJxSU90MlB4MlBkZENya25pS2c

I got > 398k of the 400k shares. If you find any errors please let me know!

I saw my address. Amazing that there are only 428 shareholders and only 30 guys who have only a single direct share, me included.

There are 1076 shares left/missing in this sheet, so technically there could be 1100+ shareholders with just 1 share Wink

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1014. (Read 3917058 times)