Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1263. (Read 3917591 times)

I hope friedcat is using a software where he established a secondary pool to target the hashingpower to. At the moment btcguild isnt available to me (timeout) so i hope the hashingpower isnt lost. I believe cgminer had such a feature. When a pool isnt answering then another pool is used.

Anyone notice https://www.btcguild.com/ is down? DOS attack?

Thank you, that helped me get things figured out. I know very little programming, and knew absolutely nothing of ruby.

If you or anyone else is interested/having issues here's what I did

Replaced rescue with above code, which returned
Google helped me learn that I could fix that by adding amongst the other requires

Then I started seeing these
Google again led me to this solution, although it probably isn't the best, it does work. Added this after the requires
Now the script works as I believe it was intended. The only remaining issue is I can't gracefully stop it, CTL-C just causes it to have errors, but continues reporting the hashrate. I have to close the terminal to stop it. Otherwise, great stuff and thanks again! (and apologies to everyone for the longish/maybe OT post)

Down to 800 GHash/s now 200 GHash/s on btc guild, could we be launching for real soon??

EDIT: Went back to 2.5 THash/s don't know why it dropped, nevermind!

I think you just woke him up!

Come on, a forum post a distraction? Lol

And as a more constructive answer ; I believe the trading platform website is also gonna contain those information, especially considering you will need an account, it would be ideal and I would be surprised if they over sighted that opportunity although it isn't confirmed.

It'd be a good idea to stop distracting friedcat while hes busy setting up the farm.

It would be a good idea if shareholders could actually keep track of hashingpower and income on a website somewhere....

Whats this 51% attack speak for? It doesnt make sense to attack the network this way. The only reason someone would try it would be to destroy bitcoin or harm it. But it doesnt make sense to attack when you want to earn money from it. Its clear that asicminer was built do earn money so there is no point to think that there is the risk of a 51% attack. That would simply be stupid to do, so please stop bothering about it.

I dont like the idea to sell asics yet. Or even give free samples to someone. That doesnt make sense. All the hashingpower should remain with friedcat so that all can take part with the earnings in a fair share. We already know that the asics work so there is even no need to give samples to proof this.

Selling or giving away asics should only be done when the profitability is way less. Otherwise single persons would get an uncool advantage against the rest.

I think the small changes in hashrate at btcguild are only a variance. Friedcat probably doesnt send more asicpower that way. So i guess they now let solo mine the remaining asics and i believe its not so easy to find a solominer in this solo miners pool. Thats why http://blockchain.info/pools shows the most of the solominers as unknown. I wonder how much TH asicminer runs at the moment. http://blockchain.info/de/charts/hash-rate shows that the hashrate goes up consistently so it looks to me like friedcat is bringing in more hashrate... only not more at btcguild anymore. Im not sure how exact the graph is but it looks like around 5-6TH more hashingpower are working since the last days. I wonder how much asicminer is there involved.

Think again. What if ASICMINER split their 60% of power into two groups, each controlled by one separate group of board members?  Would you still be concerned? By the same token, what if two operators of pools, each controling 26% of the network (so nobody cares), got together and decided to double-spend their transactions, or not to include any of my transactions?
My point: Bitcoin is the "51%" attack. If you are so worried about one business entity (with all the people comprising it) controling >50% of the network, why not worry about two business entities doing the same? It may even require less people to go rogue than in the first case.
There is always a group of people that controls 51% of the network. There is a group that control 100%. The miners.
Finally, what if some miners are not honest? They can just lose their profits and the investment, and temporarily disrupt processing of payments (until people notice the problem). My coins are still perfectly safe. They can't spend them.

Anywhere between 200-400TH/s once everything is out the door for both BFL and Avalon. Though those numbers were made pre-bASIC-failure though.

Even though this would be terribly neat, developing hardware to mine under your supervision is much more simpler than building something suitable for shipping to end users. In addition to this, you need to actually ship those, which means regulation overhead, various additional taxation, time lost during shipment, etc. As a stock holder, you're far better of if the devices do start mining right away.

I think a yet neater solution would be to build and sell a complete mining farm, closer to the physical location to the current one. The money needed to buy the farm out of ASICMINER can be raised through one of the BTC exchanges. If I had the means to do this myself, I definitely would. We probably need someone trustworthy, that can be in the region on a permanent basis to accomplish this.

I tend to agree, but I would suggest that Asicminer should sell the rest of the extra Ghash  (>1/3 and definitely > 1/2) to stock holders thus benefiting stock holders, the company (as in profit) and diversifying ownership of the hash rate. Win-win-win.

Strategic goal for ASICMINER should be to run a significant portion of the network for as long as possible -yet under no circumstances more than 50%. EVen if they are trustworthy, the whole point of bitcoin is not having to trust anyone.

What are your current best estimates of Avalon and BFL preorders in [th/s]? Anyone?

Glad you agree. 

I think instead of ASICMINER mining solo and silently (and innocently) having >51% of the network (if they roll out 50 TH in a couple weeks they will!) it would make the rest of the network satisfied knowing that they are simply making the network stronger and there is nothing foul they could do in the process.

But, they wouldn't do anything foul to begin with.  There is no point in them 51%ing Bitcoin since they have invested so much and causing any problem with the network would be ludacris.  If they did a huge doublespend or something, and caused Bitcoin's reputation to become sour, they would lose everything they could possibly gain and much more by ruining the money that they are earning with the machine.  I think we can all agree that even if they had a large majority of the network, they would do nothing different other than mine the coins and make everyone happy.

I think mining at p2pool would be great for a psychological reasons.  Sure, if they had >51% of network hashrate and were mining p2pool they could stop at anytime and solo for a bit and then go p2pool'ing, but that's not likely.  If they were mining for a big pool, that pool would have >51%, and it would put the trust in that pool operator.  If they were mining solo, it would put the trust in them.  As trustworthy as they are, if they have >51% for one moment that would mean they have that ratio for days, weeks, or even months.  As they keep scaling up equipment, they could maintain it for as long as it takes, as the profits could produce these machines quite easily.  The more they order, the lower their costs go, and the profits are just going to be astounding.  They are not a threat, but if they get that kind of speed, they will be the talk of the town for a long time and it could lower faith in the bitcoin network as a whole, at least until competition arrives.

If BFL starts pumpin' out those little black boxes, then the threat is reduced dramatically as we will all be on a level playing field.  At that point, sure, solo it up.  Until that time comes, I think they should keep p2pool in mind to keep people from thinking they could do something innocent yet break the whole network.  Profits would be similar to solo or pooled mining and everyone's happy. 

Looks like 2.3 has been surpassed: 2,319.07 GH/s

So if I calculate correctly ASICMINER has around 1 mln rmb in debt/costs that need to be paid. Divide by 6, gives around $160.000 debt/costs

If they can get all 12TH online in the next week (before BFL gets the bulk of their customers online), ASICMINER will be 1/3rd of the network.

3600 BTC / day * 1/3rd = 1200 BTC * $ 20 (safety margin) = $24000 a day

So if we are lucky we will be a debt free company before March 1st !

Nice !!!!

That is somewhat irrelevant since the change is based on the average and were 80% through.

Given that the rate fluctuated and he knew the failure rate was <5%, could they have tested everything but not yet powered everything on all at once? Maybe they are waiting for the next difficulty change to put everything online? It might make sense to not move the difficulty up given that it is changing in 48 hours.

He called the previous btcguild deployment "stress test" inferring that it might not be the start of a full deployment. There could be many reasons for that, some being : not at the permanent emplacement, temporary setup for easy access and manipulation, software setup... The list goes on.

Nonetheless, every second is $$