Topic: Hash Rate Jumps Up 39% In 10 Days. From 71mil to 99mil - page 2. (Read 5496 times)

ASICMiner is the only ASIC company that is doing it right!
Unlike BFL and Avalon, they have hit their deadlines. They are doing a great job and more power to them, I say.

It's smart that they are selling their hardware now instead of mining with it.

And even though I personally believe that the price is too high and won't buy their hardware, people seem to be going crazy for them.

I think we don't have to worry because Avalon and BFL will get their acts together and catch up, especially when the hundreds of thousands of Avalon chips are shipped. ASICMiner will stay have a healthy chunk of the mining power out there, but there will be plenty of competition.

Disclosure: I own ASICMiner shares, I also have BFL machines and Avalon chips on pre-order.

Yup. I remember back in the day in my town we had 2-3 community banks. Now its all national too big to fail banks. Same with convenience stores, ice cream shops, etc. Rich get richer.

Is this the transition period in which ASICs come online? Or the transition period were upon the price to become involved is beyond the realms of mom n' pops and the majority of society's affordability, to make it worth their while??

+1

I thought your post sounded familiar. 

All kidding aside, once ASICs go mainstream, we won't have to worry. It is only the transition period that is a bit delicate.

If this is the type of behaviour we can expect from ASIC miner, they are wayy out of line and should be removed from the equation.

They have total control of the hashrate and it's difficulty to the extent by which they need to flood the market with consumer products to prevent themselves from acquiring a beyond acceptable market share, the fabled 51%.

Don't look at the mining power they have online as their percentage. Couple it with the volume of products they have for sale and the price they are selling them at in Bitcoins (- a small manufacturing fee, there's no non-recurring engineering fee as they paid that off a long time back. Their blades have made their ROI).

The price that they stipulate for their consumer products has nothing to do with what they paid themselves, but what they perceive to be the maximal amount they could acquire from those devices if they chose to mine from them themselves in the interim whilst the competition catches up. In effect by selling at those prices it is the equivalent of mining for themselves regardless. On top of which, of we assume they are 'testing the boards' live; they again meet all manufacturing costs at a minimum. They already, for all intents and purposes have a monopoly by which they can dictate pricing and control the market and are fully displaying their hand by which they intend to act. They have no integrity, and are soley profit orientated. I realise this is a financial organisation, but this is a fledgling currency whose intention is to remain fair for all users.

No one entity should have 5%, let alone 51% of a currency, especially Bitcoin as it is against it's very purpose.

Asicminer have 'put their heads down, remained quiet, and  just got on with it' I've read others state, whilst 'other companies promise, but can't deliver', well with all due respect, Asicminer's behaviour speaks volumes and it's not healthy for Bitcoin. They are 110% attempting to and will centralise the currency as much as they can feasibly get away with...

If they are really, really smart, they just keep their hash rate at a certain percentage of the network and let it be done.

There is no real incentive to owning more than 50% of a network that is hurting. There is, however, incentive to have stable ownership of 20-25% of it and adding power every time you fall below a certain. More like "Oh, look, there is the 19,9% , fire up unit 4/100. Oh, there is 19,99%, fire up unit 5/100."

That way, the company keeps a steady, predictable supply of assets without killing the network. Then, the smartest variations is actually saying "Hey, I want 10% of this plus electricity costs for myself."

So people buy shares, they buy equipment, they pay for electricity, take 10% and... profit forever. That is how hedge funds operate and hedge fund managers are arguably some of the richest people in the world.

Yep, ASICMiner.  It was a beauty of an investment....awhile back.


Maybe Bitfury will provide some balance with his "0.7 W per GH" chip.  If it ever materializes.

I should have bought ASICMINER shares when I was offered them at 0.3BTC

But yeah, hindsight is 20/20

Yeah, those little USB stick things are a total ripoff, worth maybe a bit less than 1BTC atm. Like I wouldn't pay over $100 USD for one, the hash rate isn't good enough. A cheap video card can do more than 300 MH/s and there is a lot more parts/workmanship in a video card that's for sure!

The problem with ASICMINER is they're too greedy. They try to squeeze all profit from both ends, leaving nothing for the buyers of their hardware. Well, the sooner we have real alternatives the better. I certainly hope they don't pull any stupid stunts with hashrate, though...

AVALON, you listening?? Start friggin' shipping batches 2 and 3, and the chips PRONTO!

And the Testnet is for testing software not hardware.

I seen nothing wrong with leaving the prototypes running on the real net.

Testnet = no profits.
Mainnet = PROFIT!!

Nuff said.

Or, since they are very smart, they can grow to 30-40% of the network, and sell remaining inventory at optimal profits, thus ensuring they can stay at 30-40% of the network indefinitely.

At some point if they keep adding 4-7TH/s per week, ASICMINER will be the only ones left mining Bitcoins except for a few stragglers that don't realize they are burning money via power for nothing because of the unmatchable growth in difficulty.

Can ASICMINER's business plan survive on transaction fees alone? As they will be pretty much the only ones creating new blocks to carry transactions.

Why do you think any manufacturer would test on mainnet? AFAIK they'd be testing on testnet. That's what it's for.

~friedcat make some noise about being sensitive to the issue as one justification for releasing his 130 nm chips into the wild.  Through gear which is optimally priced of course...that's capitalism for ya.

Then of course Avalon is also talking about letting go half a million of their 110 nm chips in raw form, and with enough documentation to get them hashing readily.

Any problem of this nature would seem to be destined to be a transient issue at worst.

Yep...centralizing a currency that was suppose to be decentralized. Can only lead to disaster.

I'm sure if it were BFL there would be a huge announcement by Josh that he'd ordered 15 UPS/DHL delivery trucks to descend on their premises like a swarm of killer bees to get their products out to the customers that they care so dearly about.

My money is on Asicminer

Fcking... noobs, please... tinfoi hat is so.... outdated.