why did the price go to 0.0005?
Is the price of 0,0014-0,0016 too high ?
Topic: [BitFunder] IceDrill.ASIC IPO (235 Thash Mining Operation powered by HashFast) - page 91. (Read 378562 times)
September 03, 2013, 02:06:10 PM
September 02, 2013, 09:54:02 PM
Yes, it is like rocket science. It doesnt matter how much money you have. It is hard to compete with other engineers who live and breath bitcoin. You cant throw any chip engineer at a problem and expect them to beat the best of engineers who have been working on this problem for over a year. Look at cointerra's staff or HashFast's staff. Their CTOs and/or CEOs are founders and engineers with a passion for bitcoin. They gave up their former jobs to build bitcoin hardware. The founder of IceDrill is not a hardware engineer (no offense to them.)
Heh, it's actually more complex then rocket science.
If only you knew...
The EUVL (extreme ultraviolet lithography) effort for the 10nm process node is a bigger engineering undertaking than the moon landing. And that is just one part of the process node. (Of course, there's 200 billion dollars in yearly revenue for the electronics industry and $0 in revenue for going to the moon)
http://en.wikipedia.org/wiki/Extreme_ultraviolet_lithography
September 02, 2013, 09:24:07 PM
Yes, it is like rocket science. It doesnt matter how much money you have. It is hard to compete with other engineers who live and breath bitcoin. You cant throw any chip engineer at a problem and expect them to beat the best of engineers who have been working on this problem for over a year. Look at cointerra's staff or HashFast's staff. Their CTOs and/or CEOs are founders and engineers with a passion for bitcoin. They gave up their former jobs to build bitcoin hardware. The founder of IceDrill is not a hardware engineer (no offense to them.)
Heh, it's actually more complex then rocket science.
September 02, 2013, 04:22:30 PM
HF provides you the chips, but the pcb design that you are gonna assenbly is also provided by them or is it your design ?
Can you also tell us the price per HF chip you got in the agreement with them ?
Can you also tell us the price per HF chip you got in the agreement with them ?
September 02, 2013, 10:44:23 AM
That sounds like a very reasonable assessment. In your opinion, which company has the best tech to win the war?
It wouldn't make much sense to invest in their own 28nm chips, the NRE for quick tape-out/fast chip produce is around 5M.
Eventually because of the insane competition in this marketplace come January, you'll start to see the price of mining rigs hit very low prices <$5 and then the next batch will be <$2 and by the time ice.drill would have had their own chips, the price per GH will be so low ESPECIALLY for bulk wholesale buyers that the cost savings in developing their own chip wouldn't be worth the time/effort/cost.
Eventually because of the insane competition in this marketplace come January, you'll start to see the price of mining rigs hit very low prices <$5 and then the next batch will be <$2 and by the time ice.drill would have had their own chips, the price per GH will be so low ESPECIALLY for bulk wholesale buyers that the cost savings in developing their own chip wouldn't be worth the time/effort/cost.
September 02, 2013, 02:05:00 AM
Will,
I think once you have the farm up and running, you should use a part of that 25% to take a stab at developing your own chip. There is a huge amount of incentive for this, and it will be a small chunk out the 25% when you have 300-500TH mining.
The first benefit is it will cut your costs to expand the mine, meaning for the same price you can add even more hashing power.
Secondly, it can provide a huge revenue stream, probably even bigger than mining. You can sell bulk chips, and sell your own miners.
Some off the top of the head numbers.
20,000 units X $3,000 = $60,000,000 in revenue, which 90% of it will be pure profit given the insane mark up of mining hardware.
I think it would be quite foolish to not take a stab at the manufacturing side, given the amount of money you will have from the 25% to expand the business.
Just my two cents.
I think once you have the farm up and running, you should use a part of that 25% to take a stab at developing your own chip. There is a huge amount of incentive for this, and it will be a small chunk out the 25% when you have 300-500TH mining.
The first benefit is it will cut your costs to expand the mine, meaning for the same price you can add even more hashing power.
Secondly, it can provide a huge revenue stream, probably even bigger than mining. You can sell bulk chips, and sell your own miners.
Some off the top of the head numbers.
20,000 units X $3,000 = $60,000,000 in revenue, which 90% of it will be pure profit given the insane mark up of mining hardware.
I think it would be quite foolish to not take a stab at the manufacturing side, given the amount of money you will have from the 25% to expand the business.
Just my two cents.
Yes this, then after the ice.drill chip is done we start mining asteroids and colonizing Mars!
September 02, 2013, 01:59:00 AM
I disagree. Icedrill should not develop their own chips. Icedrill should focus only on one thing and that is mining equipment deployment, and they should try to be the best at this than their competitors. They should try to negotiate deals now including having talks with cointerra. Should Icedrill divert their energy to chip creation then they will be on a path to failure. Why? There are other companies better positioned with specialized expertise to create chips. Icedrill should focus on efficiency and optimization of massive scale deployment of bitcoin mining hardware.
There are other chip creation companies that will compete with each other causing the price of chips to fall.
There are other chip creation companies that will compete with each other causing the price of chips to fall.
+1
no need to lose focus and set out for an already glutted market with a high cost point of entry.
September 02, 2013, 01:22:01 AM
I disagree. Icedrill should not develop their own chips. Icedrill should focus only on one thing and that is mining equipment deployment, and they should try to be the best at this than their competitors. They should try to negotiate deals now including having talks with cointerra. Should Icedrill divert their energy to chip creation then they will be on a path to failure. Why? There are other companies better positioned with specialized expertise to create chips. Icedrill should focus on efficiency and optimization of massive scale deployment of bitcoin mining hardware.
There are other chip creation companies that will compete with each other causing the price of chips to fall.
There are other chip creation companies that will compete with each other causing the price of chips to fall.
He didn't say focus on chip production now. He said focus on it once massive deployment has happened. Look at every company in the world, they create new products and services, they just don't stay with one thing.
I don't think it would take that much focus away. When they have a 400TH mine they can afford to throw 1 Million at development of a chip. Heck hire a team of 5 engineers and let them focus on that end.
It's not rocket science especially when you have so much cash flow.
September 01, 2013, 11:25:00 PM
Will,
I think once you have the farm up and running, you should use a part of that 25% to take a stab at developing your own chip. There is a huge amount of incentive for this, and it will be a small chunk out the 25% when you have 300-500TH mining.
The first benefit is it will cut your costs to expand the mine, meaning for the same price you can add even more hashing power.
Secondly, it can provide a huge revenue stream, probably even bigger than mining. You can sell bulk chips, and sell your own miners.
Some off the top of the head numbers.
20,000 units X $3,000 = $60,000,000 in revenue, which 90% of it will be pure profit given the insane mark up of mining hardware.
I think it would be quite foolish to not take a stab at the manufacturing side, given the amount of money you will have from the 25% to expand the business.
Just my two cents.
I think once you have the farm up and running, you should use a part of that 25% to take a stab at developing your own chip. There is a huge amount of incentive for this, and it will be a small chunk out the 25% when you have 300-500TH mining.
The first benefit is it will cut your costs to expand the mine, meaning for the same price you can add even more hashing power.
Secondly, it can provide a huge revenue stream, probably even bigger than mining. You can sell bulk chips, and sell your own miners.
Some off the top of the head numbers.
20,000 units X $3,000 = $60,000,000 in revenue, which 90% of it will be pure profit given the insane mark up of mining hardware.
I think it would be quite foolish to not take a stab at the manufacturing side, given the amount of money you will have from the 25% to expand the business.
Just my two cents.
September 01, 2013, 05:34:04 AM
The way the business is presented is that the main focus (at least for the first year) is to set up and expand a mining farm.
Exactly this, our primary focus at the moment is successful implementation of the contract as stated. Things like implenting contingencies to mitigate/remove risk, solidifying future buying contracts, exploring customization paths for lowering cost and other things that pertain directly to ensuring the IceDrill starts operating efficiently, and "drills harder" as soon as possible.However, the business lends itself to act as a reseller, since they will acquire the necessary skills and the infrastructure to assemble and manage mining equipment at a large scale. It would be interesting to get an opinion from IceDrill.ASIC on whether they would consider any reselling activity a revenue stream for IceDrill.ASIC or whether that revenue stream would go directly to the founders or third parties. The contract specifies "profits from the farm" which suggests that any revenue stream would be covered.
Confirmed. Anything that follows directly from the core competency of economy-of-scale mining; i.e. the infrastructure and sales contract(s) which supports it (e.g. hosting contracts & resales) will necessarily be to the benefit of the IceDrill investors, because that state of being will be created from our current efforts and 25% of mining profits.It's unlikely that they will actively get involved in chip design though.
I can confirm that we probably won't get involved in chip design and manufacturing. That said, there is a fairly large gap in the market to fill where a company could act as the "Dell" to their "Intel", so to speak. Whether or not we'll be able to position ourselves as such remains to be seen. While we do not entertain delusions of grandeur, we do sometimes like to throw ideas at the wall and see what sticks. 
August 31, 2013, 04:40:30 PM
Ohh man I think I have found heaven in this thread. Where morons actually get called out instead of praised. Also, do you guys plan selling hardware in the future too or just mining? I think with all the profits a small percentage can be used to develop our own chip to make expanding of the mine cheaper and can also bring in profits from hardware sales.
The way the business is presented is that the main focus (at least for the first year) is to set up and expand a mining farm. However, the business lends itself to act as a reseller, since they will acquire the necessary skills and the infrastructure to assemble and manage mining equipment at a large scale. It's unlikely that they will actively get involved in chip design though.It would be interesting to get an opinion from IceDrill.ASIC on whether they would consider any reselling activity a revenue stream for IceDrill.ASIC or whether that revenue stream would go directly to the founders or third parties. The contract specifies "profits from the farm" which suggests that any revenue stream would be covered.
August 31, 2013, 01:48:27 PM
Yes I know about 25% reinvested just thought maybe there was a plan to make own chips/hardware, I'm sure there are plans and it makes alot of sense not to announce them, we'll just wait and see.
August 31, 2013, 01:36:43 PM
Ohh man I think I have found heaven in this thread. Where morons actually get called out instead of praised. Also, do you guys plan selling hardware in the future too or just mining? I think with all the profits a small percentage can be used to develop our own chip to make expanding of the mine cheaper and can also bring in profits from hardware sales.
August 30, 2013, 08:03:37 AM
I leave you guys alone for a few hours and then come home to the place all smashed up with a very fat, very drunk troll passed out on the floor...
You guys really know how to party
Respect.
You guys really know how to party
Respect.loool. Cracked me up.
August 30, 2013, 06:38:17 AM
Make me rich!!
August 30, 2013, 05:28:39 AM
fixed! Thanks for the feedback. 
August 30, 2013, 05:19:48 AM
I leave you guys alone for a few hours and then come home to the place all smashed up with a very fat, very drunk troll passed out on the floor...
You guys really know how to party Respect.
We finally got round to getting our website up and running @ http://petamex.com/. Just the basics for now, we'll start fleshing it out with more detail and information in the coming days. The intro video on the home page (1st panel) is an oldie, but a goodie and serves mostly to educate newcomers to the scene. Any/all feedback is welcome here so feel free to rip me a new one.
Oh my god!You guys really know how to party
Respect.We finally got round to getting our website up and running @ http://petamex.com/. Just the basics for now, we'll start fleshing it out with more detail and information in the coming days. The intro video on the home page (1st panel) is an oldie, but a goodie and serves mostly to educate newcomers to the scene. Any/all feedback is welcome here so feel free to rip me a new one.
Lol!
http://www.petamex.com/about
Quote
0.6 kwh/Ghash/sec
SO WHAT YOU GOING TO MINE??? August 30, 2013, 05:02:48 AM
I leave you guys alone for a few hours and then come home to the place all smashed up with a very fat, very drunk troll passed out on the floor...
You guys really know how to party Respect.
We finally got round to getting our website up and running @ http://petamex.com/. Just the basics for now, we'll start fleshing it out with more detail and information in the coming days. The intro video on the home page (1st panel) is an oldie, but a goodie and serves mostly to educate newcomers to the scene. Any/all feedback is welcome here so feel free to rip me a new one.
You guys really know how to party
Respect.We finally got round to getting our website up and running @ http://petamex.com/. Just the basics for now, we'll start fleshing it out with more detail and information in the coming days. The intro video on the home page (1st panel) is an oldie, but a goodie and serves mostly to educate newcomers to the scene. Any/all feedback is welcome here so feel free to rip me a new one.
August 30, 2013, 02:46:07 AM
anyways.. all investors beware, do your own research, do the business name search and you will all see this is a fraud. have a good day
As with most threads you waddle into, zero reasonable discussions are occurring here. Get that brain chemistry adjusted, for your own sake.
August 30, 2013, 02:34:50 AM
anyways.. all investors beware, do your own research, do the business name search and you will all see this is a fraud. have a good day
What the hell is wrong with you? It's obvious to anyone doing the search himself that either a) you are deliberately lying or b) you are mind- bogglingly incompetent.
I'd like to know which it is. If b), let me help you. If a): go fuck yourself.
Side-note: I usually draw my hat for a good trill, but this shot is just sad.
I bought both muahahahahahahahahhahaha
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