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Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 1267. (Read 3917029 times)

legendary
Activity: 980
Merit: 1008
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?

sure does but i can see why they don't want to take the variance risk in the short term..  we have maybe 2-3 weeks here unless BFL blows up

When you control 1/6-1/3 of the network there is no such thing as variance (well technically there is but you get what I mean).

there sure is when we are talking about a couple of weeks,  no such thing in the long term i agree,  but we need guaranteed revenue here... though 2 weeks of great luck on solo would be awesome,  bad luck would be very unfortunate.


That's utter nonsense.

Say "a couple of weeks" means 2 and ASICMINER only achieves 1/6th of the network (the two pessimistic assumptions in your range). Then:

In 2 weeks approximately: 14*24*6=2016 bocks will be mined and for each block we will have a chance of 1/6th, so we are expected to mine 336 blocks on average.

The chance to mine at least 310 blocks is: 1- binomcdf(2016, 1/6, 310) = 93.7 %
The chance to mine at least 300 blocks is: 1- binomcdf(2016, 1/6, 300) = 98.4 %
The chance to mine at least 286 blocks is: 1- binomcdf(2016, 1/6, 286) = 99.9 %

If the chance of success is large enough variance is hardly the bitch we all know her to be Wink
The probability distribution of finding a block is described by the Poisson distribution, not binomial distribution, right? How that changes these numbers I have no idea Smiley.
hero member
Activity: 868
Merit: 1000
Am I the only one refreshing the BTC Guild page and thinking "go little ASIC, go"?  I'm literally cheering on a machine. There is no hope for me.
legendary
Activity: 1750
Merit: 1007
Hm, when i see the stats at the pool i see that the rate goes down some time and goes back higher some time. It looks to me like they put a board in, it doesnt work fully and they take it out to repair it or something. It would be interesting to know the real hashrate, not the average only.

I wonder if they really work on one board only at a time. Because if they do i wonder if it wouldnt be better to set up all boards first and put it into because most of the chips will work. Then start taking out single boards to repair some errors there.

But maybe i only misunderstand the stats. Maybe they dont take out a board and its only a variance in the hashrate that cant be changed. So that they work on one board at a time to put it in later.

At the end i think they will have the best plan to do this beforehand. Its only a bit strange to watch the stats.

While I do believe they are tweaking things on their end, you're also going to see hash rate variance.  Since they are mining at diff=1024 currently, you see a few % migration + or - over the course of an hour.  The variable difficulty target rate at BTC Guild normalizes to a less than 1% variance when measured for a 24 hour period for any miner of 1.2 GH/s or higher.
hero member
Activity: 868
Merit: 1000
Im surprised no one has setup a passthrough yet. I know there is a trading platform coming but in the meantime a pure passthrough might be the way to go.

Do their rules allow it?  They seem pretty intent on doing everything possible to keep it as a legitimate investment and avoid the kinds of cluster-fucks we've seen in the past due to sketchy intermediaries.  You can almost guarantee that if they allow anyone and everyone to operate a pass-through, someone will eventually scam people who invest in the pass-throughs.
legendary
Activity: 2674
Merit: 1083
Legendary Escrow Service - Tip Jar in Profile
Hm, when i see the stats at the pool i see that the rate goes down some time and goes back higher some time. It looks to me like they put a board in, it doesnt work fully and they take it out to repair it or something. It would be interesting to know the real hashrate, not the average only.

I wonder if they really work on one board only at a time. Because if they do i wonder if it wouldnt be better to set up all boards first and put it into because most of the chips will work. Then start taking out single boards to repair some errors there.

But maybe i only misunderstand the stats. Maybe they dont take out a board and its only a variance in the hashrate that cant be changed. So that they work on one board at a time to put it in later.

At the end i think they will have the best plan to do this beforehand. Its only a bit strange to watch the stats.
full member
Activity: 238
Merit: 100
Im surprised no one has setup a passthrough yet. I know there is a trading platform coming but in the meantime a pure passthrough might be the way to go.
hero member
Activity: 532
Merit: 500
sadly one of the few glbse assets i did not hold at least a few shares Sad

You can still get exposure to ASICMINER via mining bonds/funds holding their shares.

I'm buying JAH for this reason.
https://bitfunder.com/asset/JAH

Anybody know about others, besides the [closing] GBF?



DMC

Yeah, each DMC share has a bit under 1/10th of an ASICMINER backing it.  There's some other assets owned by DMC as well but the rest aren't worth much (BTC-Mining which gave its funds away to the scammer AmazingRando and BTCMC which has some assets but is being operated in a very dodgy manner and now claims a lot of its cash was in Bitcoinica despite never having mentioned that before).  Picked up my DMC (for my fund) at about .02 each (meaning profit if ASICMINER worth over .25 - even if all other DMC assets are totally worthless which isn't quite the case) - think cheapest now were about .03 or .035 last time I looked (so you'd need to value ASICMINER over .4 or assign some value to the other DMC holdings to make them worth buying).
full member
Activity: 238
Merit: 100
[FUD] I hope they distribute mining clusters elsewhere so that its not all located in one place where the US gov can perform a drone strike

 Cheesy

I don't think even the US is ballsy enough to go all drone striking places in China.

Thats why they hire mercenaries within china. Or send in some criminals to do it. The Dirty Dozen is my favourite movie  Cheesy

Or 007 from MI5  Smiley
hero member
Activity: 952
Merit: 1009
[FUD] I hope they distribute mining clusters elsewhere so that its not all located in one place where the US gov can perform a drone strike

 Cheesy

I don't think even the US is ballsy enough to go all drone striking places in China.
full member
Activity: 238
Merit: 100
[FUD] I hope they distribute mining clusters elsewhere so that its not all located in one place where the US gov can perform a drone strike

 Cheesy
legendary
Activity: 2324
Merit: 1125
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?

sure does but i can see why they don't want to take the variance risk in the short term..  we have maybe 2-3 weeks here unless BFL blows up

When you control 1/6-1/3 of the network there is no such thing as variance (well technically there is but you get what I mean).

there sure is when we are talking about a couple of weeks,  no such thing in the long term i agree,  but we need guaranteed revenue here... though 2 weeks of great luck on solo would be awesome,  bad luck would be very unfortunate.


That's utter nonsense.

Say "a couple of weeks" means 2 and ASICMINER only achieves 1/6th of the network (the two pessimistic assumptions in your range). Then:

In 2 weeks approximately: 14*24*6=2016 bocks will be mined and for each block we will have a chance of 1/6th, so we are expected to mine 336 blocks on average.

The chance to mine at least 310 blocks is: 1- binomcdf(2016, 1/6, 310) = 93.7 %
The chance to mine at least 300 blocks is: 1- binomcdf(2016, 1/6, 300) = 98.4 %
The chance to mine at least 286 blocks is: 1- binomcdf(2016, 1/6, 286) = 99.9 %

If the chance of success is large enough variance is hardly the bitch we all know her to be Wink
hero member
Activity: 896
Merit: 1000
You can still get exposure to ASICMINER via mining bonds/funds holding their shares.

I'm buying JAH for this reason.
https://bitfunder.com/asset/JAH

Anybody know about others, besides the [closing] GBF?

ohh. that's awesome then!

have some jah shares.

full member
Activity: 238
Merit: 100
sadly one of the few glbse assets i did not hold at least a few shares Sad

You can still get exposure to ASICMINER via mining bonds/funds holding their shares.

I'm buying JAH for this reason.
https://bitfunder.com/asset/JAH

Anybody know about others, besides the [closing] GBF?



DMC
legendary
Activity: 2156
Merit: 1072
Crypto is the separation of Power and State.
sadly one of the few glbse assets i did not hold at least a few shares Sad

You can still get exposure to ASICMINER via mining bonds/funds holding their shares.

I'm buying JAH for this reason.
https://bitfunder.com/asset/JAH

Anybody know about others, besides the [closing] GBF?

hero member
Activity: 900
Merit: 1014
advocate of a cryptographic attack on the globe
Up to 17 blocks now.
hero member
Activity: 896
Merit: 1000
congrats!

sadly one of the few glbse assets i did not hold at least a few shares Sad
hero member
Activity: 658
Merit: 500
If the other pools are going to cry about how it isn't fair they're not getting any of the hashpower maybe they should be offering zero-fee for ASICMINER rigs pointed to them?  Otherwise it just looks like people having some sense of entitlement to rake their little bit in fees off the top.

It's not like there's any danger whatsoever of ASICMINER approaching 50% on its own - so there's no valid argument (from that persepctive) why the rigs need to be pointed at pools at all.  Sure - so far Avalon have only shown a couple of prototypes and no evidence of any ability to mass-produce, but now they have the prepayments for batch 2 surely they'll be able to start shipping the rest of batch 1 before long.

Even IF ASICMINER had 50%+, pointing the rigs at pools would be a purely PR stunt - as at any point they could be swapped over to solo mining/double-spending.

This whole pool argument smacks of self-interest from other pool operators/supporters rather than having much/anything to do with network security.
Well I haven't seen anyone cry yet, so no reason to mitigate the crying...
hero member
Activity: 667
Merit: 500
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?

sure does but i can see why they don't want to take the variance risk in the short term..  we have maybe 2-3 weeks here unless BFL blows up

When you control 1/6-1/3 of the network there is no such thing as variance (well technically there is but you get what I mean).

there sure is when we are talking about a couple of weeks,  no such thing in the long term i agree,  but we need guaranteed revenue here... though 2 weeks of great luck on solo would be awesome,  bad luck would be very unfortunate.
hero member
Activity: 532
Merit: 500
If the other pools are going to cry about how it isn't fair they're not getting any of the hashpower maybe they should be offering zero-fee for ASICMINER rigs pointed to them?  Otherwise it just looks like people having some sense of entitlement to rake their little bit in fees off the top.

It's not like there's any danger whatsoever of ASICMINER approaching 50% on its own - so there's no valid argument (from that persepctive) why the rigs need to be pointed at pools at all.  Sure - so far Avalon have only shown a couple of prototypes and no evidence of any ability to mass-produce, but now they have the prepayments for batch 2 surely they'll be able to start shipping the rest of batch 1 before long.

Even IF ASICMINER had 50%+, pointing the rigs at pools would be a purely PR stunt - as at any point they could be swapped over to solo mining/double-spending.

This whole pool argument smacks of self-interest from other pool operators/supporters rather than having much/anything to do with network security.
legendary
Activity: 2324
Merit: 1125
Doesnt ASICMINER have enough hashpower to solo mine for awhile ?

sure does but i can see why they don't want to take the variance risk in the short term..  we have maybe 2-3 weeks here unless BFL blows up

When you control 1/6-1/3 of the network there is no such thing as variance (well technically there is but you get what I mean).
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