Topic: DIY FPGA Mining rig for any algorithm with fast ROI - page 23. (Read 99474 times)

I haven't been keeping up on alot of threads lately, can you link me to the conversation so I can catch up?

This is purely a result of unintended consequences of (nature of business). The race for always low prices.  Soon we will be that impoverished nation. Ow wait haven’t you watched the news lately. One shooting after another. I’d say we are as close to breaking point as it gets.  Business itself has to be looked at.  The very nature of the whole system is flawed.  This is where it’s always going to head esp when it’s manipulated to nth degree. 

Starting to make one wonder is Bitmain Satoshi.  Is this all turning into a grand clusterfuck.  Buyers beware.  Bitmain OWNS crypto currency. It’s only a matter of time. First they infiltrate thru student exchange steal our ideas then go produce it with pure junk—planned obsolescence—then sell it back to us.  How’s about they can go fuck themselves. It’s too little to late for us little guys. Stop pissing your money away

BR

This is a theory I (and probably several others) put forth earlier.  I even linked an article that talked to the fact that Xilnix and Bitmain are partners.  The people at SIA who started their own ASIC venture for their own coin wrote a very good article on the entire experience including issues dealing with Chinese supply chains.  This sort of trade manipulation has been going on for decades.  In the 80's Kodak had to pay regular ransoms to stay in business or some guys uncle would cut the facility power.  But lately, the intellectual property (IP) loss is far more devastating. 

I'm not sure what the way ahead could be.  A lot of people don't talk about it but the US leads the way in chemical manufacturing.  Maybe we need to innovate more into board manufacturing. 

It's a little bit of a slippery slope because we don't want to create an environment where the US dominates too much leaving less capable nations impoverished breeding grounds for terrorism.. enough of that exists already.  On the other hand, the loss of IP has to be dealt with in some way and there just isn't enforcement of international trade laws like there should be so... what's a nation to do?

Whats happening? Bitmain get theirs first and stealth mining away?


http://www.semiconnet.co.kr/channel_micro.html?menu=video_sub&com_no=771&video_id=8498&cate_no=11&cate_name=FPGA

At last you post a really truth in this thread

I, for one am glad I got in b4 the 25% Trump tariff on semi-conductors...

Though perhaps Xilinx builds in Taiwan?

mybe, someone will develop new algorithm for gpu, and gpu mining will be hyped again.

I recently got my a 1080tis rig but it seems like soon GPU mining will be obsolete.

Wondering if Bitmain has something up his sleeve and caused the delay??? Money talks...just saying.

what a panic. At the end, it's better to mine in winter time, than in summer. 

Squirrels transferred your money directly to Xilinx.  Xilinx is the company that made a planning error.  If you want an apology then you should seek an apology from Xilinx (which is the company that is suggesting to hold your precious money for much longer than promised).  Beyond that I will let Squirrels make further updates.

SQRL already sent out an email. I believe the email was a little premature. I'm waiting on the outcome of meetings that are happening over the next few days. There will be more information to convey so that customers can get a complete picture of what's going on allowing them to make the best decision possible. Expect an email to all fpga.land customers at the end of the week or over the weekend.

Would be real good to hear the details on this delay from the people that we paid money to. Along with our options for a refund.

I have the possibility to top up 2 more FPGAs from SQRL/Mineority. Not sure if the money is better invested in something else right now. 4th quarter is quite a delay...

I have two VCU 1525 passive, with turbine cooling installed by myself. EU location and taxing price $6.000 +VAT per unit.

Having been a GPU miner for some time myself, I know how frustrating/irritating it can feel to see your hardware pay out development fees.  In this case, I think a sharing a simple calculation could be helpful.  Realize that with each FPGA being equal to 10-16 1080TI's, hash rates can overwhelm networks quite fast.  In my case I mine with 12 FPGA cards in my garage, and the typical coins I am developing for can handle about 250 FPGA's each before profit drops by 50%.  If I mine in secret, then I get the full profit from my 12 FPGA's.  If I release a public bitstream for Coin-X (as an fictional example), then let's say that 250 people start mining that coin with 1 FPGA each (which is the most the coin's network can support in this example).

Let's see what happens with a 4% fee on the typical coin that can support 250 FPGA's.

Case 1: I mine in secret, I get the full profit from 12 FPGA's
Case 2: I release the bitstream for coin-X publicly; I keep mining coin-X with my 12 FPGA's, plus I get 4% of the revenue of the 250 public FPGA's (0.04 * 250 = 10).  So now I essentially 'have' 12 real FPGA's + 10 'virtual' FPGA's = 22 FPGA's.  BUT, since the network hash rate doubled, the profit for each FPGA is now half of what it was when I was mining in secret.  So my 'new' 22 FPGA's are reduced to just 11 FPGA's if you compared them to when I was mining in secret.  This is less than the 12 FPGA's I started off with.

So, with a 4% fee, I actually make less by distributing the software publicly than I would by mining in secret.  The development fee would have to be more than 4% (in some cases way more) to actually make more by making software public.

This is why, in the past, FPGA miners only mined in secret.  But people like GPU_Hoarder, Senseless, and myself, are doing this because we believe in Crypto and we want to fight the ASIC companies and centralization.  And FPGA's are the best way to fight ASIC's because they make ASIC's way less profitable to develop.

I will have a BCU 1525 I might sell for $6,000.

Let me know.

Message me.

So I'm hearing more about "delays" from "upstream" and it doesn't surprise me.  We have seen this before.  It doesn't mean there is fraud here from the developers and it doesn't mean the developers are scammers.

We have seen this before.  Articles have been written about it on various electronics platforms (SIA ASICs come to mind).  Also, don't forget the current world-trade situation.  If anything is manufactured abroad from the United States there is a chance it is being affected by varying trade relations.

This is extremely HIGH risk when considering all that can go wrong.  Here are some risks to consider:

1) Innocent production delays.  Weeks, months... doesn't matter.  Meanwhile, the thousands of dollars tied up here is lost opportunity that could be applied to buying coins currently on sale or equipment also on sale.

2) Nefarious manufacturers.  Sure, it won't be Bitmain or even their "named" subsidiaries that get in the mix.. it will just be their uncle, niece, nephew with a manufacturing plant ready to churn out, premine, and then resale once they have harvested all that sweet delicious Intellectual Property.  This has been happening for decades.  Kodak pretty much paid regular ransoms in the 80's and 90's for their China plant to stay operational.

3)  World trade situations.  Higher tarrifs meet all out border exclusions... massive hold ups at customs offices as they sort out new regulations being handed down from one totalitarian regime to the next.

Totally not a scam by developers.  Just life in the fast lane of international production and trade.

Oh... I hadn't realized Xilnix had been in bed with Bitmain already, this from January this year: https://www.xilinx.com/video/corporate/bitmain-technologies-bitcoin-mining.html

It's too bad we can't buy Bitmain stock... Oh, but Xilnix stock is publicly traded... and their stock recently shot up 10% in after hours trading after reporting "unexpected earnings"  ... Riggghhhtt... "unexpected" they say.... riiiiggghhhtttt... hehehehe

Curious.  On what basis do you make this statement?  "Should be way less.  Like a lot less."  Given what I know, 4% seems like a pretty good deal.