ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1190.

Akka

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Quote from: 237 on April 13, 2013, 07:05:35 AM

Quote from: Akka on April 13, 2013, 06:58:17 AM

Just on thought.

Does Asicminer plan to accept $, € or other fiat currencies for the devices or are you going to accept Bitcoin only?

Because if you plan to accept Fiat Currencies, that would be awesome. As you have to pay your shareholders in BTC that would mean that you would be the first real would Company that transfers earnings into BTC and that would mean a constant money flow from FIAT into BTC as long as you sell your Products.

Just a simple thought.

I sure hope that those devices will be BTC only.

If customers want to pay with USD or EUR or whatever they can bring the influx of FIAT to BTC. ASICMINER would have no
advantage if they take the extra step (and fees + risk).
And the outcome is the same for the Network.

ASICMINER has to pay it's Suppliers and employees in FIAT. So there is an extra step involved anyway.

237

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Quote from: Akka on April 13, 2013, 06:58:17 AM

Just on thought.

Does Asicminer plan to accept $, € or other fiat currencies for the devices or are you going to accept Bitcoin only?

Because if you plan to accept Fiat Currencies, that would be awesome. As you have to pay your shareholders in BTC that would mean that you would be the first real would Company that transfers earnings into BTC and that would mean a constant money flow from FIAT into BTC as long as you sell your Products.

Just a simple thought.

I sure hope that those devices will be BTC only.

If customers want to pay with USD or EUR or whatever they can bring the influx of FIAT to BTC. ASICMINER would have no
advantage if they take the extra step (and fees + risk).
And the outcome is the same for the Network.

Akka

legendary

Activity: 1232

Merit: 1001

Just on thought.

Does Asicminer plan to accept $, € or other fiat currencies for the devices or are you going to accept Bitcoin only?

Because if you plan to accept Fiat Currencies, that would be awesome. As you have to pay your shareholders in BTC that would mean that you would be the first real would Company that transfers earnings into BTC and that would mean a constant money flow from FIAT into BTC as long as you sell your Products.

Just a simple thought.

Hawkix

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Friedcat, I dream about PCIe card with size similar to GPU, taking about the same 300W, using similar cooling and using 100 of your chips.

Any chance to get this into reality? The market would be fantastic for this.

Ente

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Quote from: thatbluedude on April 12, 2013, 02:37:16 PM

Quote from: friedcat on April 12, 2013, 10:50:22 AM

cool looking device, I will buy one for my raspberry pi if it's somehow reasonably priced just because.
Someone with a lawyerly mind make a bet on bitbet or betsofbitco that this will ship before the first jalapenlo (a single luke unit should not counted)

Why, I just did exactly that:
http://betsofbitco.in/item?id=1525

But of course we need some more BFL fanboys to pay our lunch! :-)

Ente

Rodyland

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Once Bitcoin gets more mainstream and asic miners become more mainstream itseems plausible to me that miners could be built into all sorts of internet connected devices . TV's, BluRay players, internet s. Interesting question is who gets the coins. ;-)

mmortal03

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Quote from: Rodyland on April 13, 2013, 02:20:55 AM

A device like this isn't about "making significant earnings". If you want significant earnings, you spend signifcant bitcoin and buy an Avalon or a full-blown ASICMINER tens-of-gigahash miner, or a BFL rig (if they ever ship).

A device like this is for someone who believes in Bitcoin, and is happy to drop $30 and 2.5W on "keeping the network honest". Just like all the people out there mining with low-end GPUs at 200MHash/sec on non-BTCGuild pools, because they believe it's good for the network.

Plus, you combine a device like this with a secure hardware wallet and you have an easy to carry full blown bitcoin solution.

A device like this to me seems a good next step towards the mass adoption we're all (?) hoping for.

You could pair it with one of these, which I think run ~10W. The trick would be to have LTCMiner detect it, and you'd be good to go.
http://www.geekbuying.com/item/MK808-Dual-Core-Android-4-1-Jelly-Bean-TV-BOX-Rockchip-RK3066-Cortex-A9-Mini-PC-stick-307415.html

arklan

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Quote from: ?? on ??

Quote from: wtfvanity on April 12, 2013, 11:08:23 AM

Quote from: John (John K.) on April 12, 2013, 11:04:56 AM

Quote from: friedcat on April 12, 2013, 10:50:22 AM

That's...

Jerking off to this right now, can you blow it up for me with some higher reso!

Yeah, I just wanted to say that this is pretty much a wet dream come true.

I just found this thread and haven't had a chance to read through the WHOLE thing. I don't have a lot of technical expertise, but I have been thinking a lot lately about an ASIC solution that would repurpose a GPU rig by swapping out the GPUs for ASICs of the similar size and form of GPUs using the same slots and power connections - all in the interest of keeping the network decentralized. Is something like this in the works here or elsewhere? Is it even possible or feasible?

I am also potentially interested in obtaining some shares here. I suspect they have all been bought up long ago, however.

possible, sure. efficient, i don't know. there's a thread in custom hardware about a DIY avalon approach, since avalon has said they want to sell chips. that may be your best place to ask.

as to shares: the IPO was finished ages ago, yes. but there are plenty of people selling them still, either directly, or through passthroughs on a couple exchanges. going price is about .7 btc a share. there's more info on that subject here, if you go back to about tuesday or so of this week in this thread.

Rodyland

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Quote from: organofcorti on April 12, 2013, 11:32:16 PM

Even at current difficulty, one of these things will earn about ~~0.006 btc~~ 0.15 btc per week. It won't be long before it will take months before a 300MHps device earns enough to make a reasonably sized transaction. Otherwise there'll just be more SatoshiDice-like tx in the blockchain, and you'll have to pay larger fee when you want to spend the coins you mined with it.

So you'll need a bunch of them, and this means, as Kano suggested, messy USB hubs and this really works against the basic idea of a simple little plug in device.

I really do like the idea, but it needs to provide an order of magnitude greater hashrate to make it useful for mining - like the larger boards. If you just want to use it to support the network with this 300Mhps model, fine. But if you want to earn btc with it, it's not quite there yet.

Seems we're on the same page. Cheesy

I hope ASICMINER sells both. I'd buy some of the minis just to have something to cart around and show people. And I'd buy a monster (if I could afford it - or a share in a monster otherwise) because I'm not just a believer, I'm a true believer.

In terms of making money for shareholders, I think the minis would be more potentially profitable - the novelty value of a pocket-sized asic bitcoin miner is hard to guess at, but I put it at a good size.

And as for the "dust", yes, if you mine with a pool and set to 1mBTC payouts then (assuming your pool will even do that) then you'll have to hang on to those transactions for a _long_ time before you can afford to spend them without getting screwed in transaction fees. Personally I have a 1BTC payout limit on my pool. But again, you aren't mining with a mini to earn coins - you're mining with a mini because you believe in Bitcoin and want to keep the hashing power distributed.

arklan

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makes a great stepping stone though. buy one, wait till you can afford a second, rinse, repeat until you have a decent income, THEN buy the big boys. ...this is pretty much exactly what i'm gonna do since my income is unlikely to see me with several thousand to spend anytime soon.

but 50 or so here and there? i can swing THAT.

organofcorti

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Poor impulse control.

Quote from: Rodyland on April 13, 2013, 02:20:55 AM

A device like this isn't about "making significant earnings". If you want significant earnings, you spend signifcant bitcoin and buy an Avalon or a full-blown ASICMINER tens-of-gigahash miner, or a BFL rig (if they ever ship).

A device like this is for someone who believes in Bitcoin, and is happy to drop $30 and 2.5W on "keeping the network honest". Just like all the people out there mining with low-end GPUs at 200MHash/sec on non-BTCGuild pools, because they believe it's good for the network.

Plus, you combine a device like this with a secure hardware wallet and you have an easy to carry full blown bitcoin solution.

A device like this to me seems a good next step towards the mass adoption we're all (?) hoping for.

I agree:

Quote from: organofcorti on April 12, 2013, 11:32:16 PM

Even at current difficulty, one of these things will earn about ~~0.006 btc~~ 0.15 btc per week. It won't be long before it will take months before a 300MHps device earns enough to make a reasonably sized transaction. Otherwise there'll just be more SatoshiDice-like tx in the blockchain, and you'll have to pay larger fee when you want to spend the coins you mined with it.

So you'll need a bunch of them, and this means, as Kano suggested, messy USB hubs and this really works against the basic idea of a simple little plug in device.

I really do like the idea, but it needs to provide an order of magnitude greater hashrate to make it useful for mining - like the larger boards. If you just want to use it to support the network with this 300Mhps model, fine. But if you want to earn btc with it, it's not quite there yet.

Rodyland

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Quote from: organofcorti on April 13, 2013, 01:44:38 AM

That's the disadvantage I see. You'll need a good few of these to make any significant earnings and that brings us back to Kano's comment about messy USB hubs.

I think the USB sized device is not a good idea, but I think the technology behind it is fantastic. I'm just looking forward to something a little more .... excessive Wink

A device like this isn't about "making significant earnings". If you want significant earnings, you spend signifcant bitcoin and buy an Avalon or a full-blown ASICMINER tens-of-gigahash miner, or a BFL rig (if they ever ship).

A device like this is for someone who believes in Bitcoin, and is happy to drop $30 and 2.5W on "keeping the network honest". Just like all the people out there mining with low-end GPUs at 200MHash/sec on non-BTCGuild pools, because they believe it's good for the network.

Plus, you combine a device like this with a secure hardware wallet and you have an easy to carry full blown bitcoin solution.

A device like this to me seems a good next step towards the mass adoption we're all (?) hoping for.

luffy

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well whatever can bypass customs without any fuzz is great!
that said, a much bigger ASIC like, lets say, an FPGA board size would be perfect Wink

(we need the ideal device with best efficiency and customs passable size)

organofcorti

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Poor impulse control.

Quote from: Miner99er on April 13, 2013, 01:37:52 AM

[.....] And organofcorti, I would definitely buy hundreds of these if the price is right... there's so much savings when it comes to power usage as opposed to GPU's (I have 30) that for me it instantaneously $200 more profitable a month if I simply bought 30 and ditched the Radeons'. But, like many others they're going to move over to LTC soon... I'm still buying 79x0 cars to replace the 5k series that I own. [....]

That's the disadvantage I see. You'll need a good few of these to make any significant earnings and that brings us back to Kano's comment about messy USB hubs.

I think the USB sized device is not a good idea, but I think the technology behind it is fantastic. I'm just looking forward to something a little more .... excessive Wink

Miner99er

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There always P2Pool or... if you like dealing with the devil... Eligius.

Currently I'm using Ozco tho, and I have the payout @ 1BTC... I ususally see that every 3 days. I'm trying to improve that tho.

And organofcorti, I would definitely buy hundreds of these if the price is right... there's so much savings when it comes to power usage as opposed to GPU's (I have 30) that for me it instantaneously $200 more profitable a month if I simply bought 30 and ditched the Radeons'. But, like many others they're going to move over to LTC soon... I'm still buying 79x0 cars to replace the 5k series that I own.

I just wish I knew when these will be available. I'm still being burned by my BFL preorder... and my Avalon isn't coming till May. :-/

organofcorti

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Poor impulse control.

Quote from: lophie on April 13, 2013, 12:42:41 AM

I am a little confused here. Can't I just withdraw my BTC from my favorite pool once a month? How is that considered BTC "dust" that doesn't cover tx fees?

Yes, you can withdraw your btc once a month or even longer - if you don't mind keeping your btc in the pool wallet for that long. Pool wallets and accounts have been hacked in the past, and people have lost large amount of coin because of it.

The main point is that if you get lots of tiny payments from a pool it will cost you more to spend them because once you combine them they'll be relatively large size in kb, incurring a larger tx fee. If you leave the coins there until you have enough to make a reasonable sized tx, then you risk losing your bet in the event of a hack.

This might not be important to you, and a hack is unlikely to happen. But you'll be pissed if you had to keep your btc on a pool for a few months, and then you lost it all because the pool failed or your account was hacked. A bird in the hand etc.

lophie

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Unlimited Free Crypto

I am a little confused here. Can't I just withdraw my BTC from my favorite pool once a month? How is that considered BTC "dust" that doesn't cover tx fees?

gmouse

newbie

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I want one just for the nostalgia value. Maybe double or triple it up though, as much as can be powered by USB.

VJain

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Quote from: SRoulette on April 13, 2013, 12:28:28 AM

When and where can we order this beautiful device ?
My SO saw this and fell in love instantly, she is already on QQ linking it to all her friends Grin

She missed out investing in a recent avalon purchase I went in on so this is current choice.

An ideal bitcoin related gift imho and it would also be a boon to altcoins like PPC & TRC.

This could be the future of bitcoins, every user plugging along with 1-4 of these devices in their PC balancing out the bigger players with their more powerful ASICS.
Personally I would run it regardless of profitability on a mining pool for the devices lifetime and I would imagine many others would do as well.

I wish you all the best luck in this and I am already impatient waiting to order this new device Tongue

No word or news has been given yet. Just that that was an option on the sales.

F5'ing impatiently for additional word. Till next Thursday Sad

.

organofcorti

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Poor impulse control.

Quote from: Miner99er on April 13, 2013, 12:04:12 AM

Yeah... just did the power estimates of this thing, (in my area, its .06c per KWH) and the difficulty before this thing is unprofitable.

3,00,767,3000

Bump that price up to .25c per KWH

88,767,3000

Yes, I just added numbers to the front till I got a number low enough to not be worth it.

So, if you don't want them... I sure as the hell do. USB cabling being a mess or not... you can always custom make a rack for 'em.

I don't think you read the post. I'm sure these devices will be profitable, I just think it will take a long time to earn enough so that you're not earning btc dust and having to pay large tx fees every time you spend the money you earn.

I'd want to be able to earn at least 0.1 btc per week to reduce tx costs. At current difficulty, 300 Mhps will take about 4 days to earn that much. As difficulty increases, the time taken for 300Mhps to earn 0.1 btc will increase by the same amount.

The only solution is to own a bunch of them - which brings us back to owning a larger sized device.

Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1190. (Read 3917058 times)