Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1186. (Read 3917543 times)

Small insects working together in large groups: ASICMINER Honey Bees

fantHASHtick? _{(combination between fantastic, hash and stick )}


FountHASHtick!   _{(combination between bitfountain, hash and stick, combined it will be FANTASTIC!  )}

Satoshi Stick(s)? Pool Qs? Hash Bar(s)? 

Look forward to

我想买这个设备

The point of my faux-conversation is that you can tell your friends "I got this USB thingy that mines bitcoins! It tries 300 million two step SHA256 hashes per second!", not that it is meant to be used for anything other than bitcoin mining.

The input for each BTC hash is 80 bytes of which 76 are constant and the remaining 4 are cycled from 0 to 0xffffffff (internally by the device)

The input for each password crack hash will be different - USB wont really like getting 4 billion different inputs to hash in 14 seconds

I guess you could write an MCU which did only one hash and tested the result, but you'd still need to be sending it way too much data too quickly

So you're saying it's not the right kind of random?

300 million (double) hashes of (almost) the same data (with 32 bits changing) per second
- or more correctly, it tests all 4 billion (2^32) values for 'nonce' + 76 fixed bytes, in 14.3s

Password cracking requires hashing different values each time to see which one matches what you want.

Isn't 300 MHz 300 million hashes?

No it can't ...

"What's that?"

"It's a password cracker! Can try 300 million two step SHA256 hashes per second!"

Friedcat's probably aiming for selling these as a novelty item - kind of like the small plastic keychain cameras or 'spy gadgets' you can buy at tourist spots.

I may have missed it - how many are we looking at selling?  How much has rate are we selling vs deploying internally?

They are only 300MH/s (as I keep saying)

Even 1000 of them is only 300GH/s ... i.e. you need 3,333 of them to just reach 1TH/s
So unless ASICMINER is suddenly able to produce a lot more that 1000 of them, it wont make much impact on the network
(they are slower than most typical current hardware used by anyone but noobs)

As someone who's invested in ASICMINER for the dividends, not the "capital growth", a rush of share buying for the purposes of securing a discount on miniminer units (do they even have a real name yet?) is a bad idea, yes.  If you're going to go down that path, you may as well sell all the units to shareholders at cost and let the shareholders distribute them as they see fit.

People need to remember that every miniminer we sell is going to directly compete with asicminer for mining hashrate, taking dividend payments directly from shareholders.  In a world with unlimited power and datacenter space, I think most sharesholders would agree that internal mining would provide the best ROI.

Given a lack of power, network and datacenter space, selling units for as much as the market will bear is a reasonable second choice.  It also has the added benefit of shifting some of the risk of future hash rate increases (beyond what we have already accounted for) into "the market", which some would argue would provide a better pricing of said risk.

And given that selling mining rigs is effecively bringing forward mining income for that hashing power (discounted to present value accounting for uncertain future events), the increased dividends for asicminer shares that represent that extra income will probably result in a healthy share price bump anyway.

Also worth considering - any time spent by asicminer management dealing with share transfers, shareholder discounts, and anything else that isn't directly related to building, deploying or shipping as many miners as possible is directly detracting from the value of asicminer shares/dividends.

Don't you think it would only cause a temporary bubble in share prices, which would fall as soon as the sale offer was over? That certainly wouldn't benefit those of us who want to hold our shares, or even invest further. I haven't crunched any numbers yet I'm just thinking out loud.

Agree with you 100% on BTC pricing. 

But that can raise the share value for shareholders. Definitely needs to be priced in BTC through.

Giving a discount on hardware to shareholders is a terrible idea... especially for shareholders. Anyone can buy one or two shares of ASICMINER. Let's max out what we can get for these bad boys.

To buy shares you find someone who is selling shares.  Look in the auction forum.  I don't like your chances of a single share purchase though.  Your other option is to buy a passthrough (PT) share on one of the exchanges, and then convert that to a real share.

https://bitcointalksearch.org/topic/asicminer-for-dummies-159194

The other thing is, I really hope they sell these for a price denominated in bitcoin, and would be very disappointed if they were sold at a US$ price.