Topic: BitFury has the No. 1 Crown for Now... (Read 11275 times)

I suspect we might only see the 16nm chips later a lot later (Moors law), if the S7 launched at $1800 what will an equivenlent launch, with the same 1290 wattage 16nm chip be... which would equate to +- 12th (thumb sucking fugure).... plus a halving... unless the bitcoin price goes up I think alot of people are gonna stay put till the halving and see what happens bitfury especially.... think about it they must have invested a pretty top dollar to get into the bitcoin chip manufacturing space. If they make the chips at all.... If a data center cost +- $3'000'000... using between 1mw to 2 mw of power imagine the setup of the factory to build those things... this isnt a joke and not anyone is gonna jump in knowing the halving is comming and uncertinty on the price of bitcoin.... yeah we all assume it will go up but what if allot of people dump it on to the market and the price goes back to just $200 even $300... a lot of people will be out

If they were gonna launch miner to the public they would have done it already so those "big clients" could at least get their ROI before the halving... so at leat they go in with the data center paid up and time to make profit...

something tells me there arent many takers just check the hashrate the past month.... its been hovering between 1300 ph and 1000ph with massive drop offs... this isnt the ususal drop off like you see on the S7's... if they are testing (bear in mind im only using the hashing chart to make this analagy) they could be having problems (an assumption)... ive been seing 20-30 % variation in total network hash.....

have a look for yourself
https://blockchain.info/de/charts/hash-rate


certainly its interesting times.... and we must keep on mining till the market changes up or down

*********side note playing with figures

if a bitfury data center cost $3000'000-00 (I think Im not far off) for 12ph.... that equates to $250 per TH so in antminer terms $1175. for the equivanlent antminer with 16nm chips... vs $665 for 28nm... hmmm if antminers come down to $580 might be interesting lol...

but alas the one who will alway be in the game are the ones who dont have to pay for electricity....

So the lesson "go solar" hahaha

Are these chips still estimated to hit market by the end of March?

.

I'm wondering saying 2 cent's or less.  I would be more likely to believe that with Bitfury I suspect they have some pretty good electricity pricing with bulk usage and no doubt went were it was cheap.

I don't think we what they can be though. Once they perfect the new NM chip... it's hard to say how big they might get.

Are you sure the power is  USD 0.192 per kwh? It is too expensive. That is the price in Europe, not in the US.

Bitfury has a massive {exploration mining} farm (two or perhaps three) in Texas.

Point out where power is USD 0.192 per kwh, could be even less... & several more farms in Romania & Russia.

Well after they add so many hash a few weeks ago, it just logic.
I am happy to see though a non-chinese miner is growing and even the biggest now.

In the end it's about the right distribution, but let's be honest too they are just 1 entity, while the other 2 pools are from several entities.

We really can't say that for sure as there is nothing to back it up. We can guess as they are 2 being released to public right now.  But there are also others like the early B11 - https://bitcointalksearch.org/topic/m.13908346

The early B11 we don't have any idea how many were made.  It did not hit refined specs it should eventually, but they produced some... how many? No one that knows is saying.

So the S7 and A6 are making most of the hash rates. They will be not very profitable in April or May.

You have my interest.  I'm touring APAC right now, but I'd be interested in chips or some collaboration.

Sidehack will be getting chips.


Definately not using our chip. I would expect miners with our chip by end of march or early april.


See above.


Yes we did and we also released our PCB designs under Creative Commons License.

The BitFury did not announce the selling of the chips or miners. It might mine itself to make more money.

There's got to be a lot of them that are being used right now or being tested..  Diff is skyrocketing

The difficulty has risen a quite a lot recently and is predicted to rise 21% in the next few days. I suspect some high performance miners have already been used.

Why has Bitfury been behind closed doors for so long?  Is it because it was profitable to self mine and support product to other data centers.  The halving and difficulty must play a part in this, oh and can't forget the cost of the new chip development.
I'm not a basher, I am extremely excited to have this come to market.  I just hate the fact they left the home miner without any options to buy their product until now. 

Will be waiting to see if they will indeed sell chips to Sidehack.  That's the game changer.

I think bitcoin fury now is in 3rd place.
Any way i just want to ask about the difference of every mining pool. why some of them are low count?
I thought that they giving a good hash or rewards in f2pool than the others. am i right?

I said recoup a little bit - not the whole thing

I think I may have been partially responsible for one of the older transformers blowing out coming from the main trunk - happened about 3 years ago when I was all card mining.  It was so eerily quiet

Any new S7 batches comming out at this time look like they will have n uphill fight chasing ROI.

yeah i believe that they are already testing the new asic, some months wil pass before announcing it to the public and then starting to sell when the diff is already at the point where they are not delivering their initial 100% profit, as usual

but it may be worth purchasing for 1 month or two, liek it was at the beginnign for the s7

It would be great if sidehack could make a usb miner with your chips when you supply to him .

It would certainly make home hobby miners like me and many others very happy .

Looks like we will all be waiting until the end of March to add more hashpower.

What device? Currently we have no sales representative in the Republic of Georgia. You should keep monitoring the bitfury.com website where official resellers and integrators will be listed.

Dear @punin,
I ask you again, does the device will be sold in Georgia?
I checked your post and i want to purchase device. As i see you have sales on internet but i will be in Georgia and i want to buy directly so could you please kindly inform me do you have any sales office, or sales shop this country. Add to that, will be the price same as on your web site on your sales shop? Also will be there any extra taxes? I will bring them to Turkey when i turn back Turkey. Please inform me address where i can purchase them? I'm waiting your reply ASAP.
Best Regards.

congrats bitfury for this success. I have not try gaming sites personally. but hope they have some amazing feature. that's why the became so popular.

Shall we wait for the new 16 nm miners now? I heard it will come out in April. But the difficulty rises so fast, maybe the manufacturers are already mining with it.

by the current trend of the diff, it will earn around 0.01, which is very bad if you think that at the beginning it was 0.04

so maybe still profitable if you have the right electricity and you have your roi, but i wuld not buy any s7 anymore

Does it mean the S7 will be unprofitable from end of May? It is much earlier than I expected. The difficulty will rise fast.

Punin thank you for the update we are all excited to hear the news of your progress, and I know I look forward to seeing some final packaged miners and would love to see a bitfury sidhack USB miner in the near future.

I'm sure Sidehack will be among the first ones to receive our chips.

You are selling them to who ?? Can we have some name to check the company.

Are you whilling to sell in small batch to Sidehack ?  We could get some bitfury usb stick!

Does the device will be sold in Georgia?

Maybe you meant MegaBigPower? That's not us. BitFury's datacenters are located in Republic of Georgia and Iceland.

We are already selling chips to integrators whose interest is to produce mining equipment and take it to market as fast as they can.

We are hopeful that the first BitFury enabled devices will hit the streets by the end of March.

Bitfury has a massive mining farm (or two or three) in Washington state where power is $.02 per kwh,maybe even less...& some more farms in Romania & Russia I believe.

Doubt we'll see any mining chips or miners from them for sale to us home miners before the halving 

Gotta move to another coin,BTC is corporate & has been for awhile,I am...........the love is gone 

Problem is, for most, electricity costs make mining at home not worth it.
The only remaining reasons to mine at home would be to get bitcoins (at higher cost than from an exchange), or for the sake of mining, like a hobby for which you don't mind spending money without financial return.

seems like the only miners you can run at home are more of a toy then something you can make any real money with

The Sidehack USB sticks are a nice choice or possibly an old S3 those weren't to noisy. Everything from bitmain after that was way to noisy and draws to much to run on any normal home 110V electrical outlets

Revive homemining!! I hope something new comes out

I don't see why you're realising that home mining is dead now. It was dead as soon as the first ASIC came out. AFAIK bitfury is a private mining company, not a pool. They probably have a huge-ass mining rig in the middle of nowhere.

you need a massive farm for that, because one s7 consume only $45 at 0.05 electricity and less at lower electricity of course, soem farms use even a lower electricity

so we are talking about a 500 tera farm already

You need quite a few S7 to consume the $4k/month electricity cost. Will the landlord know the difference to the power bill?

I don't think anybody can mine profitably at present with $0.25/kwh  .  I am paying $4k/month to lease an office that I use less than 50% of the business days, just trying to recoup a little bit of the rent with the "free" electricity while supporting the network.

If the miner is made according to the 0.1J/GH specification, that is 150% more efficient than the S7. It will dominate the market.

Source: http://bitfury.com/products#16nm-asic

as a business unit they would diversify their business ,rather than developing the machines just to mine for themselves they will be earning a good profit selling the machines .

If your electricity price is over $0.25/kWh, You will not mine profitably after the halving. The only motivation to mine to keep the network distributed.

Bitfury also supports the 2MB block size. So it is good for the bitcoin network.

Remember bitfury because they were partners of bit-x, if I am not wrong. Would love to see the cloud mining service working again, it was good for me.

Anyone here uses bitfury miners?

Mine will concentrate on the cheap electricity places. The US dollar has appreciate against other currencies, so there will be fewer mining operations there.

You're not going to get anything good from posting here. Honestly you expect us to believe that US Marine Corps have nothing better to do then hunt down people who scammed you lol. Sorry i know I shouldnt even reply to this attention seeking post but srsly whud. Gotta admit some taught gone into writing the above post. Some albeit not alot

this isn't something that a single user can do you know, so i'm not user how useful is to do it, unless you have a very large base of friends

but is not better to sustain the network with at least the possibility to avoid losing money? s3 is ancient and also have a low hashrate, so the distribution in this case is not even good

I know your first consideration is the free power. Without free power, there is no way you will ROI and continue mining with S3.

What you talkin' about Willis?  I got S3s that have been going nonstop for over 16 months and will continue well past the halving.

And I'm sure lots of college kiddos "leeching" free power for 4 years at a time.  For me mining ROI is a secondary consideration - my main concern is keeping the network distributed.

we need more compaction in this area. home mining must increae

Both Bitfury and Bitmain are producing high efficiency miners. A lot of them are used by themselves. So the race will be on for some more time.

Wow... That's a really close battle between the top 3.

I'm not trying to sound doom and gloom...

But, could this be the beginning of the end for home miners?

I've always believed that Bitmain uses their technology for awhile, before making it available to public.

At some point advanced machines won't be affordable to the public.

Mining has been a small yet fun and affordable hobby for me -- and I hope that it will continue...

Their latest announcement sounds like they will finally make hardware available for home use again.  It remains to be seen, and most people can agree in saying "I'll believe it when I see it".

BitFury do not make hardware for home use. They only sell hash power online to cloud miners. They will lead the race in long run.

The usable life of a miner is just 6 months. If you cannot ROI within 6 months, you will never. So They should have planned for that.

They will be in a very good position to be in, and it sucks for everyone else.  Who knows at what point we may get access to these chips, but it surely stops me from jumping on any gear that is out right now because it really just won't be able to keep up next year.

We might see what other companies have in their R/D.  I think some of the big one's chances are always are working on next gen.  Maybe another one comes out if were lucky.

But Bitfury will use this to be the first to ROI on ton's of machines.  They are in a very good position to be in.

They stated  their chip is so good that no one can compete against it so they will sell chips to keep the playing field level.

I see trouble ahead.

I don't think they ever planned to do it. The article says that they "announced mass-production of its full-custom design 16nm Application Specific Integrated Circuit (ASIC) Chip". But even if they were so "evil" that they only mine for themselves with the chip, I bet someone else would develop a similar chip or would just pirate this one. )

That will be the most efficient miner out there. They will be making money when others are not.

and the halving is bad why ?. if bitcoins keep going up how they are the halving will have no effect at all the only thing i see bad is 12.5 less coins per block and higher difficulty, i don't see that as bad unless the chip makers try to shut out everyone and  mine for them self, which is possible, but some one will come a long and stop that unless the laws of the land stop home miners or make it to hard to do it in your home, by law.

^^ Thanks for the link above. So we can expect new gear in q2/3 then?

BTW, even with its 20% jump in two days to around 95b we are still better than in Apr/May 2015 (when you account your btc in $).

Difficulty then was ~ 48b and ~225-230 USD per BTC
Difficulty in 2days will be ~95b and 450-465 USD per BTC so far the revenue in usd is better than it was 15 adjustments before with 79b. Diff should be at 120b.

Maybe.  They have 6 months to make some money off of it before the halving.  Halving is coming.

They have developed a new 16nm ASIC Chip:
http://www.businesswire.com/news/home/20151216005453/en/BitFury-Announces-Mass-Production-Fastest-Effective-16nm

Difficulty will EXPLODE  

Are you mining?

No?

Oh okay..

See the problem?

i've noticed that the more we go the more distributed the hashrate seems, because i remember that only f2pool an antpool were leading the hashpower, but it appear that chinese are preventing purposely the 51% to be a reality, this is good

https://blockchain.info/pools?timespan=4days

Check out the 4 day, thats even more sad. Think this is a first time in mining history any single entity is the largest. Larger than any pool for 4 days running. FUCK YOU BITFURY!
BTC becoming more and more centralized... fun times. Game is almost over =)

...

TheRealSteve

Yes, that is very true, I did somewhat cherry-pick BitFury's block wins (I probably check those Mining Pool Stats once a day).  Variation, yes.  Still, BitFury may have an advantage on F2Pool as they make the chips.

"Variation" is why I put the "for Now" in the title of this thread. 

BitFury has been number 3, mostly, but variance makes it difficult to gauge even over a 3-day timespan.

That huge! Just sad that they do not make gear for home mining! 

...

BitFury, which has been (mostly) number two in blocks won recently has just moved into first place:

https://blockchain.info/pools

BitFury: 103
AntPool: 102
F2Pool: 99