Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1095. (Read 3917568 times)
When you are making chips in the billions, the NRE is high but the marginal cost of production is negligible. That's why it will work. The hashrate will be very high of course but almost everyone will be getting some of the reward, which will almost exclusively be transaction fees.
I'm amazed with your idea of getting a revenue with the phone, mining with it. Imagine a world were, not only banks (with fiat) are not involved on the economy in the sense they are now, but also people is helped to grow some money with that new monetary system. Simply great.
Even though its an interesting idea... i doubt that it will work out... the market saturation with ASIC's will come soon. So that one single ASIC wont bring much revenue at the end of the day. I mean 282MH/s (Avalon) dont bring much now too but it will become way worse when the ASIC's revenue comes close to the power cost running them. That happened with GPU's too at a point. So i think this project only has a limited lifetime.
On the other hand... even when your smartphone creates some cents a day its probably much money for many people in different countries. But then again... it would use energy all the time... this energy costs...
So im not too convinced of the idea. But i think ideas have to pop up to find out how to spread the bitcoin currency.
I had proposed this idea months ago in IRC. It is something that doesn't become feasible until maybe 5th-generation ASICs or such. The idea would be that mining would become largely spread on a user basis, and that in order to send a tx, you'd have to do your fair share of mining to support the network for that tx. It begins to make a lot more sense when billions of people use bitcoin, and you can get 1TH on a chip or whatever makes sense.
If it will be 1TH on a chip the hashrate probably will be million times a TH. And such TH-Chip will be even more costly to create than the chips nowadays.
You mean forced mining or free transaction when you mine? Because forcing every pc to mine can become costly with power and wouldnt be very good for environment.
If a change in bitcoin protocoll is involved i think it will be hard to do. I can imagine a big opposition against some kind of forced mining...
I'm amazed with your idea of getting a revenue with the phone, mining with it. Imagine a world were, not only banks (with fiat) are not involved on the economy in the sense they are now, but also people is helped to grow some money with that new monetary system. Simply great.
Even though its an interesting idea... i doubt that it will work out... the market saturation with ASIC's will come soon. So that one single ASIC wont bring much revenue at the end of the day. I mean 282MH/s (Avalon) dont bring much now too but it will become way worse when the ASIC's revenue comes close to the power cost running them. That happened with GPU's too at a point. So i think this project only has a limited lifetime.
On the other hand... even when your smartphone creates some cents a day its probably much money for many people in different countries. But then again... it would use energy all the time... this energy costs...
So im not too convinced of the idea. But i think ideas have to pop up to find out how to spread the bitcoin currency.
I had proposed this idea months ago in IRC. It is something that doesn't become feasible until maybe 5th-generation ASICs or such. The idea would be that mining would become largely spread on a user basis, and that in order to send a tx, you'd have to do your fair share of mining to support the network for that tx. It begins to make a lot more sense when billions of people use bitcoin, and you can get 1TH on a chip or whatever makes sense.
I'm amazed with your idea of getting a revenue with the phone, mining with it. Imagine a world were, not only banks (with fiat) are not involved on the economy in the sense they are now, but also people is helped to grow some money with that new monetary system. Simply great.
Even though its an interesting idea... i doubt that it will work out... the market saturation with ASIC's will come soon. So that one single ASIC wont bring much revenue at the end of the day. I mean 282MH/s (Avalon) dont bring much now too but it will become way worse when the ASIC's revenue comes close to the power cost running them. That happened with GPU's too at a point. So i think this project only has a limited lifetime.
On the other hand... even when your smartphone creates some cents a day its probably much money for many people in different countries. But then again... it would use energy all the time... this energy costs...
So im not too convinced of the idea. But i think ideas have to pop up to find out how to spread the bitcoin currency.
I'm amazed with your idea of getting a revenue with the phone, mining with it. Imagine a world were, not only banks (with fiat) are not involved on the economy in the sense they are now, but also people is helped to grow some money with that new monetary system. Simply great.
Ps: is friedcat going to write an update like everyweek? Or I have missed it?
Ps: is friedcat going to write an update like everyweek? Or I have missed it?
Great idea. The bitcoins on phone can be changed to credit automatically. A phne that makes its own free credit.
In some places in Africa, cell phone minutes are actually used as a type of currency. Once someone figures out how to implement this idea (although I am skeptical until batteries can put out a lot more juice), OR trade bitcoins via SMS, I think we will have a MASSIVE market that opens up in Africa.
Good point about cell phone minutes.
I know there will be technical hurdles to overcome with regard to power efficiency, but I think it's inevitable that a device like this will exist, maybe *must* exist, when Bitcoin becomes ubiquitous.
We expect smartphones to be web-capable. The commodity phone of a few years from now will be web-capable and Bitcoin-capable. Things like calculators, personal organizers, watches, email, messaging, webapps have all migrated to cell phones. Bitcoin's turn is coming. The difference is you will be *paid* just to be connected, instead of the other way around. The same phone that might only earn enough BTC per day to pay for one subway trip in NYC might put food on the table for a family in Nairobi.
I'm interested in what happened in Africa in the 1990's and 2000's. In many parts there infrastructure is poor, and liable to being unmaintained, stolen, or destroyed by conflict. Many parts of Africa have good mobile phone networks, though, as they're relatively cheap to deploy and can be deployed in numbers to provide redundancy (or even just moved around on trucks). If you said to a villager in many parts of Africa that his mobile phone can generate $2 a day if it does Bitcoin, he'd probably offer his daughter to you.
I've had a couple more thoughts riffing on this idea over a glass of wine. Yes, it is after 5 where I am.
Make the chips as cheap as possible, maybe even *pay* mobile phone makers to bundle them into handsets.
Consider collaborating with other leading Bitcoin miners to fund development. Design goals are the best performance possible with low power. It will be designed to go into a cheap phone, so sleek design is not so important, i.e., the phone might be a "brick" with a larger battery.
Great idea. The bitcoins on phone can be changed to credit automatically. A phne that makes its own free credit.
In some places in Africa, cell phone minutes are actually used as a type of currency. Once someone figures out how to implement this idea (although I am skeptical until batteries can put out a lot more juice), OR trade bitcoins via SMS, I think we will have a MASSIVE market that opens up in Africa.
I'm interested in what happened in Africa in the 1990's and 2000's. In many parts there infrastructure is poor, and liable to being unmaintained, stolen, or destroyed by conflict. Many parts of Africa have good mobile phone networks, though, as they're relatively cheap to deploy and can be deployed in numbers to provide redundancy (or even just moved around on trucks). If you said to a villager in many parts of Africa that his mobile phone can generate $2 a day if it does Bitcoin, he'd probably offer his daughter to you.
I've had a couple more thoughts riffing on this idea over a glass of wine. Yes, it is after 5 where I am.
Make the chips as cheap as possible, maybe even *pay* mobile phone makers to bundle them into handsets.
Consider collaborating with other leading Bitcoin miners to fund development. Design goals are the best performance possible with low power. It will be designed to go into a cheap phone, so sleek design is not so important, i.e., the phone might be a "brick" with a larger battery.
Great idea. The bitcoins on phone can be changed to credit automatically. A phne that makes its own free credit.
The exchanges are around 1000 now and havelock's is just a week old so the passthrus will get a seat it was part of the release based on the combination of shares so yes in time it may be allocated a seat
Actually DT's PT has a board seat already if I am not mistaken.
https://bitfunder.com/asset/G.ASICMINER-PT Shares Issued: 19,160
Burnside's PT has a board seat as well. I am the only one that does not yet. Board seat does not bring any tangible benefit to PT shareholders yet, but in the event Friedcat does issue out the test boards he mentioned in the past, it is very likely I will simply buy one myself to keep up with the Joneses.
The exchanges are around 1000 now and havelock's is just a week old so the passthrus will get a seat it was part of the release based on the combination of shares so yes in time it may be allocated a seat
Actually DT's PT has a board seat already if I am not mistaken.
https://bitfunder.com/asset/G.ASICMINER-PT Shares Issued: 19,160
If I have understut it correctly, there will be no more auctions for Blades. Auctions were used to determine correct price for direct sales, and you have already found the thread where they are sold without auction for a fixed price.
Yep, I'm curious if there will be any price adjustments in the next several weeks as there are other ASICs shipping.
If I have understut it correctly, there will be no more auctions for Blades. Auctions were used to determine correct price for direct sales, and you have already found the thread where they are sold without auction for a fixed price.
I'm sorry but I'm getting somewhat tired from explaining this over and over again
Promise?
I'm sorry but I'm getting somewhat tired from explaining this over and over again
Promise?
I think thats a very strange view. You think investors bough apple stock because they dont pay dividends? Apple has stockpiled large sums of money and it doesnt do anything with it. Its simply useless money.
I think you should tell that to stock holders. Perhaps they'll realize you are right and everyone else is wrong and just give you their shares in appreciation.
I think you should also call up Warren Buffett and tell him because he's clearly doing it wrong by not paying dividends. I'm sure he'll donate his $53.5 billions to you in appreciation for setting him straight.
I'm sorry but I'm getting somewhat tired from explaining this over and over again, so I'm going to skip the rest of your post. You clearly lack some fundamental understanding of how shares and stock markets work.
.b
I'm interested in what happened in Africa in the 1990's and 2000's. In many parts there infrastructure is poor, and liable to being unmaintained, stolen, or destroyed by conflict. Many parts of Africa have good mobile phone networks, though, as they're relatively cheap to deploy and can be deployed in numbers to provide redundancy (or even just moved around on trucks). If you said to a villager in many parts of Africa that his mobile phone can generate $2 a day if it does Bitcoin, he'd probably offer his daughter to you.
I've had a couple more thoughts riffing on this idea over a glass of wine. Yes, it is after 5 where I am.
Make the chips as cheap as possible, maybe even *pay* mobile phone makers to bundle them into handsets.
Consider collaborating with other leading Bitcoin miners to fund development. Design goals are the best performance possible with low power. It will be designed to go into a cheap phone, so sleek design is not so important, i.e., the phone might be a "brick" with a larger battery.
To sum up some parts
The question is if the dividend should be distributed to maximize shareholder wealth leaving less funds for investment, or some held in reserve to diversify investments to expand into other industries since we know that when 2016 comes the income may decrease. Since we can anticipate this and to some extent mitigate that transitional effect as we have 3 years to do so, the question then becomes what industry's would ASIC be strong in and what would be a good or optimal place and location to diversify expand or relocate/build new assets to ensure long term wealth creation and growth. How much we should save and how the board should decide what industry ASIC should move into as a hedge to the decreased mining revenue in a couple of years.
Sort of a conflict over short term vs long term goals
Simply what makes me and you the most money not just now but later and builds on the wealth of the company over the long term outlook
Real economic growth
In other news Satoshidice is either having panic selling or really is removing USA gambling noms shares lol
I think diversifying outside bitcoinworld will lead to low revenue... there arent much investments outside that are nearly as effektive as this one here. On the other hand i dont see the block halving that bad. It can be foresseen so everyone can adapt... the last halving showed that it goes through smootly... nothing bad happened... i dont see that this will change with next halving...
The question is if the dividend should be distributed to maximize shareholder wealth leaving less funds for investment, or some held in reserve to diversify investments to expand into other industries since we know that when 2016 comes the income may decrease. Since we can anticipate this and to some extent mitigate that transitional effect as we have 3 years to do so, the question then becomes what industry's would ASIC be strong in and what would be a good or optimal place and location to diversify expand or relocate/build new assets to ensure long term wealth creation and growth. How much we should save and how the board should decide what industry ASIC should move into as a hedge to the decreased mining revenue in a couple of years.
Sort of a conflict over short term vs long term goals
Simply what makes me and you the most money not just now but later and builds on the wealth of the company over the long term outlook
Real economic growth
In other news Satoshidice is either having panic selling or really is removing USA gambling noms shares lol
I think diversifying outside bitcoinworld will lead to low revenue... there arent much investments outside that are nearly as effektive as this one here. On the other hand i dont see the block halving that bad. It can be foresseen so everyone can adapt... the last halving showed that it goes through smootly... nothing bad happened... i dont see that this will change with next halving...
Wow thorough reply just does my reply
I think diversification can lead to lower revenue but pocketminer had a good idea of building chips for other things if ASIC does hedge a bit, doesn't need to be outside bitcoinworld could be inside bitcoinworld but we can leave options like the internet and real stuff on the list. It really depends on what seems like the best choice if we go that route and i'm sure there will be a lot of discussion before a plan is executed and made.
And as they say the horse that doesn't participate in the race can never win. ASIC took a risk building these devices so we will never know unless we try. Not out of desperation mind you but out of planning a well thought out strategy. Your right halving day affects all miners and were still seeing exponential growth of pc power
so the market will adapt to that but it doesn't hurt to keep looking for new possibilities and having the window open to embrace new ideas. After all that's why we invested in bitcoin in the first place Geh it's all in quote leaves it that way lol
Except in 2016, at a known and predictable time, poof, 50% of the possible income and dividends disappear and thus the share value drops to 50%. Now you've lost 0.85 in a day. Or around a years worth of dividends at 30% hash rate.
- OR - BTCUSD doubles, hence while you are earning half BTC as before, you are actually earning the same equivalent USD.Yeah, and just imagine the insane profits if we measure in Zimbabwean dollars!
ZIM$ for official AM currency now!
.b
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