Topic: Goliath - page 2. (Read 9241 times)

If you are selling hardware, you better announce the specs/price/pre-order quickly, because everyone has already plopped down a big chunk of change for ASICs. I can't imagine there's a whole lot of money left in the bitcoin investor ecosystem after everyone buys shiny new ASICs. Time is of the essence for such a project.

If this is a distributed cracking project, I may be interested. I need an AES-128 password cracked and my GPUs are tied up on something ATM...

Yohan, not stating anything  is completely your preoperative, but I don't know why you're asking for my money then.

At the very least I would want to understand a few metrics in order to evaluate how this compares to what I think Avalon will bring.
a) Ghash/s per $ of capital cost
b) Ghash/s per Watt
c) Ghash/s per Total opex cost (server space, electricity cost, etc)


The definition of CPU, FPGA and ASIC relates to how the computation is performed. Not the fact that they are silicon chips. Sorry, calling a CPU an ASIC  is a pet peeve of mine, so please excuse the clarification.
- A CPU performs computation as a series of instructions, very inefficient
- A FPGA performs computation in logical LUTs, better than CPU but still inefficient
- An ASIC performs computation directly on transistors, most efficient


Designing PCB boards that house FPGA chips supplied from Xilinx/Altera is a completely different skill set than designing and fabricating an ASIC where you have to be first time right or all investment is lost. bASIC and BFL are learning this. Just because Cairnsmore1 was a success, does not mean the next engineering project will be. Again it comes down to how can I evaluate if you are capable of building this project, if I don't know what the project is doing?

One last thing that confuses me. You say that we will be able to measure the effect in the network hash rate prior to funding. But that would mean the project is already complete and working, which begs the question, "why do you need my money to fund something that is already completed???"

If you do loans or shares you need to register with the various UK & US authorities. You have tax / legal compliance issue for various countries. In the US if you get past a certain share holder count the SEC requires you to go public.

I would just sell the devices.

I'm not real interested in a Mining Bond myself. I really like my CM1 Devices and would prefer to have actual Hardware.

Did I not see you crying about BFL in some other thread? Guess its just personal now lol

Haha, I hate it when that happens 

Just do it. You are speaking sense.

A 51% attack can be defended with checkpoints, rollbacks, and algorithm changes. If Bitcoin is made illegal then mining will happen through TOR and there is a good chance that Bitcoin will survive. A public mining company would collapse like a house of cards when mining is made illegal.

No, we can, he can't. He bought the "idea" too, but BFL returned the money he payed for a Jalapeño because they did not want him as a customer anymore.   

+1  Yup

Atleast w/ BFL and the other ASIC Companies you Can Buy the Hardware and can be Equal with the other guys...

I cannot even see this thread in the subforum without getting this song stuck in my head.

Just do the project. It will be controversial, but you will get investors if you offer reasonable terms. Preferably equity in my view.
People may not want their investment status to be public. But they will be happy to invest in secret.
Plenty of people would love to get involved in mining via investing in a legally registered company.

He is just doing what BFL did Selling you a Idea but at least he told you in advance lol

     Just what the Bitcoin Mining Community Does NOT need is a Multi-million $$ company taking more from Us little guys...Let us Individuals have the Mining and all you Companies keep doing the Hardware.  It's things like this that taking away opportunities for the Small Individuals that would like to have a Nice Hobby and Make a Little money as well!!   

This is just my opinion but it's this stuff that will ruin mining as intended when Bitcoin was Developed.  The people w/ big money Swallowing up the individuals.

@ Yohan and Cunicula


I am going to refrain from giving my opinion on projects like this in the future.  I do agree this will happen regardless of how I personally feel, or many people feel, about it.


We'll all see what happens.

It will happen anyways. He might as well give the community a chance to profit from it.

Scenario 1

Enterpoint gets a conventional loan from a bank.  Mines bitcoin.  Private, centralized.  


Scenario 2

Enterpoint offers equity stake mining bond to community.  Dividends paid.  Capital risk hedged on the back of community if bitcoin tanks.  
Investors have little idea if the product can scale performance wise.  A privately controlled product developed on what effectively is a loan from a community of potential competitors.



Either way it's pretty shite.

I actually agree with this.