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Topic: [BitCentury] LittleFury USB Bitcoin Miner - Up to ~4GH/s! [CLOSED] *locked* - page 2. (Read 8975 times)

legendary
Activity: 1593
Merit: 1004

I agree... I think if these priced these at $100, they would probably have enough pre-orders to order a second $60K reel of asics.  You would get people sending them as winter holiday presents and what not.


Unfortunately, Chips alone are 1/2 that pricing.



I don't think you would have to go to $100.  My suggestion would to work with a break-even after 3-4 months.  Like 120,000,000 difficulty at ship time would put around $150-185.  Something like that.  You can definitely charge more per Gh/s than the other BitFury products.  But having to wait 3-4 months is an eternity in the mining world right now and everyone knows that date can move.
You would definitely sell some to the newcomers in November but experienced people have had enough of pre-orders unless it's a relatively safe bet they will get their money back in 6 months.  Right now you at over a year break-even in my estimation.  For what it's worth. Undecided

Keep in mind that when we build these things, they have essentially the same number of "doodads" (i think is the correct technical term) as the larger boards. Micro controller, power distribution, transformers, capacitors, etc, most of which can handle many more chips than what we have on board already. I would expect that the H-Board cost is nearly identical to our cost (Specially since their chips are dirt cheap for these boards, less than 1$ each is my guess.). Even if we were to build H-Board equivalent ourselves, you're still looking at 320$ cost in chips alone for a product that is being sold at 550$. There's no way we can compete, so we didn't even try.


A reasonably priced LittleFury may not be tenable.  And I'm not saying competitive.  Just reasonable from the standpoint of newbie willing to pay for one for the experience.
Agreed on the H-board.  BitFury would have been crazy to create their own competitors by selling chips cheaply.
But perhaps with some sort of assurance they may be willing to cut the chip price to you for a product like this that they don't want to build anyway.  Selling 40,000 more chips than expected because of a popular product that gets their name out there more might be attractive.  Even if it is at half the profit of the other chip sales.  It's not like it's more overhead for them to order more chips.  And in 6 months they will be outdated.  
I may be all wet, but perhaps there is still an opportunity here if you can get your costs down.
hero member
Activity: 1118
Merit: 541

I agree... I think if these priced these at $100, they would probably have enough pre-orders to order a second $60K reel of asics.  You would get people sending them as winter holiday presents and what not.


Unfortunately, Chips alone are 1/2 that pricing.



I don't think you would have to go to $100.  My suggestion would to work with a break-even after 3-4 months.  Like 120,000,000 difficulty at ship time would put around $150-185.  Something like that.  You can definitely charge more per Gh/s than the other BitFury products.  But having to wait 3-4 months is an eternity in the mining world right now and everyone knows that date can move.
You would definitely sell some to the newcomers in November but experienced people have had enough of pre-orders unless it's a relatively safe bet they will get their money back in 6 months.  Right now you at over a year break-even in my estimation.  For what it's worth. Undecided

Keep in mind that when we build these things, they have essentially the same number of "doodads" (i think is the correct technical term) as the larger boards. Micro controller, power distribution, transformers, capacitors, etc, most of which can handle many more chips than what we have on board already. I would expect that the H-Board cost is nearly identical to our cost (Specially since their chips are dirt cheap for these boards, less than 1$ each is my guess.). Even if we were to build H-Board equivalent ourselves, you're still looking at 320$ cost in chips alone for a product that is being sold at 550$. There's no way we can compete. What a few posters say they would be willing to pay for this in Nov is already well under our cost for production. All of this doesn't even include the percentage of chips which will be DOA, or the percentage of boards which will be DOA out of the assembly, boards withheld (not sold) for warranty replacement if anything goes awry, etc. Then if there's a major hick up anywhere in the chain we're at that point taking huge personal losses to get these things to you. Unfortunately, 325$ is really our minimum pricing at this time. What it all comes down to is, If you want cheaper boards, we need cheaper chips.

legendary
Activity: 1593
Merit: 1004

I agree... I think if these priced these at $100, they would probably have enough pre-orders to order a second $60K reel of asics.  You would get people sending them as winter holiday presents and what not.


Unfortunately, Chips alone are 1/2 that pricing.



I don't think you would have to go to $100.  My suggestion would to work with a break-even after 3-4 months.  Like 120,000,000 difficulty at ship time would put around $150-185.  Something like that.  You can definitely charge more per Gh/s than the other BitFury products.  But having to wait 3-4 months is an eternity in the mining world right now and everyone knows that date can move.
You would definitely sell some to the newcomers in November but experienced people have had enough of pre-orders unless it's a relatively safe bet they will get their money back in 6 months.  Right now you at over a year break-even in my estimation.  For what it's worth. Undecided
hero member
Activity: 1118
Merit: 541

I agree... I think if these priced these at $100, they would probably have enough pre-orders to order a second $60K reel of asics.  You would get people sending them as winter holiday presents and what not.


Unfortunately, Chips alone are 1/2 that pricing.

legendary
Activity: 1652
Merit: 1067
Christian Antkow
Good luck with this project ! Really looking forward to seeing it become a reality and purchasing them in November once they become available.

-Mr. Burnt-Out-On-Pre-Orders
sr. member
Activity: 336
Merit: 250
No bank transfer payment option Sad  What should ppl with no BTC do ? It will take too long to buy them, even longer to mine on GPU.

I use coinbase.com. Easy to transfer from Bank into BTC.
newbie
Activity: 17
Merit: 0
No bank transfer payment option Sad  What should ppl with no BTC do ? It will take too long to buy them, even longer to mine on GPU.
full member
Activity: 133
Merit: 100
Hi pajak666,

We will not be mining any customer sold devices for more than a few hours, necessary only for testing purposes and to make sure we are not shipping any DOA's (dead on arrival) product. Thanks for pointing out this potential loophole, I will update the opening post. The Jan 1st, 2014 refund date is just to give us some head room in case there are any delays outside of our control by 3rd parties we will be depending on.
Cheers,
Luis


What if I want a refund?

We are currently not offering any refunds relating to pre-orders from these devices. If we're unable to deliver your order by Jan 1st 2014, we will open up refunds for users to request. You will be refunded the full bitcoin payment which you sent to us when requested after the Jan 1st 2014 deadline.

That opens you very dangerous gate, you can assemble those chips, mine with them until 1st january 2014 and then pay refunds form what you have mined.
Seems not so safe to me.
hero member
Activity: 746
Merit: 502
Looking for advertising deal

What if I want a refund?

We are currently not offering any refunds relating to pre-orders from these devices. If we're unable to deliver your order by Jan 1st 2014, we will open up refunds for users to request. You will be refunded the full bitcoin payment which you sent to us when requested after the Jan 1st 2014 deadline.

This opens you very dangerous case,  you can assembly those chips, mine with them until 1st january 2014 and then pay refunds form what you have mined.
Seems not so safe to me.
sr. member
Activity: 490
Merit: 255
Yeah. To be competitive you need to get under $20/GH...or even lower if the Hboards overclock well. I've been trying to figure out if it's worth it to mass produce these USB sticks. It probably will work but margins will be low and delays will be very costly.


I agree... I think if these priced these at $100, they would probably have enough pre-orders to order a second $60K reel of asics.  You would get people sending them as winter holiday presents and what not.

full member
Activity: 182
Merit: 100
Swiss Money all around me!
Watching! I hope you can lower a bit the price.
hero member
Activity: 631
Merit: 500
As for the Oct 25GH/s boards, I believe those are just boards without any chips, hence why the description is "For Hackers". Also, those boards are currently only being sold to European customers. You'll note David (USA) also sells them for October but with a much higher price point. I believe this is because those specific ones titled "Starter Kits" come pre-assembled and with ASIC chips in them. Feel free to correct me if I am mistaken though.
I bought 3 based on Dave's recommendation.  That said, I'm guessing you are doing this with October chips, but November shipping is pretty late for this to be a viable player.  October 25 Gh/s H boards are going for $500...  

I don't believe this misrepresentation is deliberate but the H-Board is populated with ASICs and uses an M-board as the SPI hub. So the $500 price point represents 25GH/s with chips in October.

Ok, I'll check with David and/or the EU Bitfury guys. Clearly David sells a nearly identical product for almost 3 times that price, and their goal is to keep prices aligned to each other as they are all business partners, so we'll get an answer shortly I'm sure.
Cheers,
Luis

Yeah. To be competitive you need to get under $20/GH...or even lower if the Hboards overclock well. I've been trying to figure out if it's worth it to mass produce these USB sticks. It probably will work but margins will be low and delays will be very costly.
sr. member
Activity: 378
Merit: 255
Ok, I'll check with David and/or the EU Bitfury guys. Clearly David sells a nearly identical product for almost 3 times that price, and their goal is to keep prices aligned to each other as they are all business partners, so we'll get an answer shortly I'm sure.
Cheers,
Luis

Price goes with the inverse of production capacity, so the sold out boards for August are from a smaller batch I presume.

EDIT: Inverse, though you know what I meant  Smiley
legendary
Activity: 1593
Merit: 1004
Great idea but your pricing makes zero sense.
$100-90 per Gh/s is expensive now in July. In November it will be felony theft.
Spend a extra $175 and get a 25 Gh H board.
full member
Activity: 133
Merit: 100
As for the Oct 25GH/s boards, I believe those are just boards without any chips, hence why the description is "For Hackers". Also, those boards are currently only being sold to European customers. You'll note David (USA) also sells them for October but with a much higher price point. I believe this is because those specific ones titled "Starter Kits" come pre-assembled and with ASIC chips in them. Feel free to correct me if I am mistaken though.
I bought 3 based on Dave's recommendation.  That said, I'm guessing you are doing this with October chips, but November shipping is pretty late for this to be a viable player.  October 25 Gh/s H boards are going for $500...  

I don't believe this misrepresentation is deliberate but the H-Board is populated with ASICs and uses an M-board as the SPI hub. So the $500 price point represents 25GH/s with chips in October.

Ok, I'll check with David and/or the EU Bitfury guys. Clearly David sells a nearly identical product for almost 3 times that price, and their goal is to keep prices aligned to each other as they are all business partners, so we'll get an answer shortly I'm sure.
Cheers,
Luis
sr. member
Activity: 378
Merit: 255
As for the Oct 25GH/s boards, I believe those are just boards without any chips, hence why the description is "For Hackers". Also, those boards are currently only being sold to European customers. You'll note David (USA) also sells them for October but with a much higher price point. I believe this is because those specific ones titled "Starter Kits" come pre-assembled and with ASIC chips in them. Feel free to correct me if I am mistaken though.
I bought 3 based on Dave's recommendation.  That said, I'm guessing you are doing this with October chips, but November shipping is pretty late for this to be a viable player.  October 25 Gh/s H boards are going for $500...  

I don't believe this misrepresentation is deliberate but the H-Board is populated with ASICs and uses an M-board as the SPI hub. So the $500 price point represents 25GH/s with chips in October.
full member
Activity: 133
Merit: 100
Hi -Redacted-,

First, thanks for your order! Our shipping time is dependent on us receiving October chips from Bitfury's business partners. With this, November shipping should be realistic for us. As for the Oct 25GH/s boards, I believe those are just boards without any chips, hence why the description is "For Hackers". Also, those boards are currently only being sold to European customers. You'll note David (USA) also sells them for October but with a much higher price point. I believe this is because those specific ones titled "Starter Kits" come pre-assembled and with ASIC chips in them. Feel free to correct me if I am mistaken though.
Cheers,
Luis

PS. Also for everyone else, just to be clear, we are not taking any "reservations" without payment. If you want to purchase some units you must order them from our store. People posting "reserved" in these threads typically means they intend to come back later and make a comment, which of course you can make at any time. People posting "reserved" who don't make a comment after a few days will see their posts deleted just to keep the thread more legible. Thanks for your understanding.

I bought 3 based on Dave's recommendation.  That said, I'm guessing you are doing this with October chips, but November shipping is pretty late for this to be a viable player.  October 25 Gh/s H boards are going for $500...  
legendary
Activity: 1442
Merit: 1001
member
Activity: 70
Merit: 10
would it work on usb 2.0 ? If so then what would happen if...

1. The USB 2.0 port can only provide 500 mA -- Would it work in reduced capacity?
2. The USB 2.0 port can provide > 900 mA -- Would this work as expected?

The design incorporates programmable voltage level and current monitoring.  The device will work in a reduced capacity when connected to a standard 500mA USB2 port (I am expecting approx 3GH/s in this case).  However a high power USB2 port will give full performance.
sr. member
Activity: 322
Merit: 250
Supersonic
would it work on usb 2.0 ? If so then what would happen if...

1. The USB 2.0 port can only provide 500 mA -- Would it work in reduced capacity?
2. The USB 2.0 port can provide > 900 mA -- Would this work as expected?
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