Topic: ASICMINER: Entering the Future of ASIC Mining by Inventing It - page 742. (Read 3917468 times)

+1

Slightly OT, have a quick look through the Avaloan thread https://bitcointalksearch.org/topic/m.3032439. What a disaster! Makes our concerns about the hash rate, communications, etc pale into total insignificance.

New Blades?! And .2 BTC USBs!


[OPEN] batch #23/24 ASICMiner USB + NEW Blade miners
https://bitcointalksearch.org/topic/closed-batch-2324-105-btc-usb-4-btc-new-blade-miners-283458

The orphaned blocks are due to a poor network connection to other bitcoin nodes, correct?  If AM is having issues connecting to other bitcoin nodes it will have the same issues with connecting to a pool outside of the firewall, no?

Again I prefer no hash rate meter as it give more info to competitors / malicious attackers.  If shareholders have an issue with that, that is fine.  No one is forcing them to invest.

 Friedcat is honorable and has my respect.

I like investing in companies with ethics.

Except that hosting a private mining pool (just like bitfury) would solve both issues.  The pool could exist outside of the firewall and would not be subject to the orphaned block/transaction issues. It would also give current mining hash rate values to all of the investors.

This isn't difficult.

I don't think the bolded part is a fair conclusion.  I think his meaning is more that it would add an additional responsibility and commitment of resources because if it went down then people on this board would be screaming and going nuts.  So overall its just not worth it and is a waste of resources.  Plus it would allow DDoS's and other malicious attackers a method of determining EXACTLY how effective their attacks were.  In case you haven't notice, friedcat is a very unique cat indeed in the bitcoin mining community (honest, thoughtful, intelligent, takes care of his customers / shareholders, not willing to engage in malicious behavior, etc.).

Also I think it is a bigger issue than just hiring a sys admins.  Since the parent company owns the vast majority of the shares, obviously it is also in friedcat's best interest to fix the issue.  It makes no sense for any party involved to just shrug at the number of orphaned blocks.  I am sure if it was a simple fix that he would do it.  I think its a bigger issue related to China's internet firewalls, weird network issues and other Chinese internet idiosyncrasies.

It looks like friedcat refunded the 200BTC fee: https://blockchain.info/tx/b18abce37b48a5f434f108ae7ce34f22aa2bfbd9eb9310314029e4b9e3c7cf95

That's perfectly logical and valid. Of course, you may miss out on some large returns, but this is all about risk / reward and we all have different risk appetites.

As well, before Friedcat delivered, he made promises, and taking on that risk has been very good for investors.

You and Vycid should get together, I have a feeling both of you would get along.

Sure he does. That's why AM has been hashing away with 266 Th/s since June.

I don't pay for promises. I pay for results and delivery.

Others promise. And promise. And promise.

Friedcat delivers.

If you think Labcoin is overpriced then you haven't done the maths.

In 2 weeks it will have 3-4 Th/s online, so let's say about 0.5-1% of the network hash rate. 0.5% of the network hash rate will produce mining dividends of 252 BTC per difficulty round. With 10,000,000 Labcoin shares and 30% of profits being reinvested, that gives 0.00001764 BTC per share per difficulty round. For the price of 1 AM share, you can buy about 1000 Labcoin shares, which would provide 0.01764 BTC per difficulty round.

A month later it will have about 50 Th/s, which will be between 5-8% of the network. At 5% of the network and 30% of profits being reinvested, each share will get 0.00017640 BTC per difficulty round. Those same 1000 shares as before, which currently cost about the same as 1 AM share, would produce 0.17640 BTC per difficulty round.

the problem with peta- mine and other mining ipos is that they depend on the manufacture to not fuck up - deliver on time, no problems with equipment etc. basically you have to deal with all manufacturing problems + 3rd party running everything. two separate layers of possible failures.

I completely agree and that's why I've always stuck with companies that make their own chips.  That 'rule' has served me quite well.  I'm not advocating for Peta-mine here. I'm just stating that others may be investing in a large IPO that will demand people sell other positions in order to invest.

However...

Asicminer:
  Currently having difficulty maintaining running blades.  In fact, in friedcat's most recent post he even mentioned that one of the reasons they aren't posting an actual hashing meter is because it would require them to perform more maintenance (leading one to assume they are laxed on the maintenance and letting people see that would be a problem).  This is further exacerbated by mysterious network issues that cause them to be unable to process all available transactions (losing fee's) and leading to orphaned blocks (highest orphaned block count of any mining pool).  These same 'network issues' are frequently friedcat's excuse as to why hashing seems to be going offline.  How hard is it to hire quality sys admins in China anyway?

Labcoin:
  Small time player with questionable trust issues.  Their stock price is already over priced considering the % of the network they will be able to realistically maintain being late to the game on old technology with limited funding.

ActiveMining:
  Complete silence from them is leading investors to lose confidence.  If you look at what they are offering and compare it to their competition, it's hard to see how they will make shareholders any profit with a 16GH, power hungry chip that realistically won't be out until mid November.

Given the state of available securities it is easy to see why people might be open to investment in a company like Peta-Mine.

 thanks so that drops the number down to 50-65th  still room for 40x 500gh units.  I only say it because they have not sold much in a while, yet they still are open. 20th would keep them afloat. it would be about 150 coins a day.  they could stick around and ship out some gear to keep the hounds at bay so to speak. still waiting on 2 jallys from them, but I paid the older lower prices and I canceled 3 little singles while they let us do cancellations. the 3 blades I ordered today will do nicely. even at the 5btc price the are worth it as they allow me to offload  a lot of asic sticks.

ya, whatevs there is always a difference between a mining operation and getting the mining equip straight from factories with no markup and mining yourself. mining companies can compete but not on the same level as the manufacturer/miner

It's this:

https://btct.co/security/PETA-MINE

https://bitcointalksearch.org/topic/btc-tc-cryptx-introduces-the-peta-mine-18000-chips-in-septemberupdate-280570

Well, out with it then!

2012 BFL was the leader 2013 BFL was proven to be a bad investment choice
I'll just use Korbmans post as its much clearer
https://bitcointalksearch.org/topic/m.3028093

(In 2012 I feel bad for BFL's original investors. In 2013 it was becoming a bad investment investors could see a mile away, the smile references AM being cheaper than BFL's original units soon)


I try to use Anastrophe sometimes geez no one appreciates a good Anastrophe XD
http://en.wikipedia.org/wiki/Anastrophe


Dhenson which IPO?
ICEDRILL.ASIC (1/8)
SANDSTORM (1/8)
COG.F3         (4/4)
PETA-MINEʡʬ  (4/4)