Alright, everyone back to the main thread: https://bitcointalksearch.org/topic/diablo-mining-company-77469
Thread locked.
Topic: I'm starting Diablo Mining Company, but how much should the initial IPO be for? (Read 5347 times)
May 08, 2012, 07:31:16 PM
May 08, 2012, 07:30:25 PM
Okay, so, I ended the poll about 10 hours early.
25k BTC - 48 (35.8%)
50k BTC - 23 (17.2%)
100k BTC - 31 (23.1%)
250k BTC - 11 (8.2%)
500k BTC - 4 (3%)
1m BTC - 17 (12.7%)
Average comes out to 203k. I guess 200k isn't so bad. The ride is going to be much rougher, though.
Diablo Mining Company: the $1m USD Bitcoin Startup.
25k BTC - 48 (35.8%)
50k BTC - 23 (17.2%)
100k BTC - 31 (23.1%)
250k BTC - 11 (8.2%)
500k BTC - 4 (3%)
1m BTC - 17 (12.7%)
Average comes out to 203k. I guess 200k isn't so bad. The ride is going to be much rougher, though.
Diablo Mining Company: the $1m USD Bitcoin Startup.
May 08, 2012, 11:54:57 AM
Could somebody please explain to me why an investor would want to pay towards property, tax, security, insurance, staff (what, this is a one man operation?) When you can just invest in multiple smaller (yet still quite large) operations and not deal with any of this?
The assumption that the price of BTC will double when difficulty goes up is also quite ridiculous. It's not like the exchanges are always low on stock or that they only have coin that was freshly mined that day.
I can only see this being attractive if you have more BTC than can be invested in all other miners on GLBSE combined, in which case your name is probably pirateat40.
The assumption that the price of BTC will double when difficulty goes up is also quite ridiculous. It's not like the exchanges are always low on stock or that they only have coin that was freshly mined that day.
I can only see this being attractive if you have more BTC than can be invested in all other miners on GLBSE combined, in which case your name is probably pirateat40.
Taxes will be paid no matter what. If these existing mining operations are not paying for taxes, well, I'd hate to be them when the IRS comes. Same goes with insurance, you _require_ it, period, end of story.
The one thing I'm offering that the other mining operations are not offering is large scale power generation to offset operating cost and provide a secondary revenue stream.
I imagine that most of these mining operations will be out of businesses in less than 4 years, while mine will still be here.
May 08, 2012, 11:49:56 AM
If difficulty rises, it's nearly always better to have a lot of hashing power as fast as possible (--> GPU). - Most important: USD per MH/s when buying
If it is stable or goes down, it's better to have the most efficient miners possible. - Most important: MH/s per Watt when running
There are also better GPUs for USD per MH/s than 7970s I think.
If it is stable or goes down, it's better to have the most efficient miners possible. - Most important: MH/s per Watt when running
There are also better GPUs for USD per MH/s than 7970s I think.
Well, thats the thing, GPUs are not merely the cost of the GPU itself, you now require a mobo+cpu+mem+psu(s) per 4-6 GPUs. Even that massive 18 slot rig that everyone is drooling over, that PCI-E backplane is expensive. You have to take in the WHOLE cost of assembly. With FPGAs, all I do is plug the power in and plug the USB in, the entire farm can be ran off of one box running bitcoind.
Due to this fact of the additional cost of hardware each individual slot is very expensive... which means you're stuck putting as much mh into a slot as possible, which means throwing in 7970s (but not 7990s due to the "dual gpu cards always suck for overclocking" rule).
And all the currently shipping products? They're all basically equiv in mh/w (except for bfl singles that use twice as much power per mh for no good reason).
May 08, 2012, 11:40:02 AM
I''ve just updated the plan to switch from ZTEX to BFL.
Why put all your eggs in one basket?Don't get me wrong, I'm trying very much not to. But the price difference per mh is just so damned big that the other solutions just priced themselves out of the market. It irks me to single source parts to no end.
May 08, 2012, 06:40:49 AM
If difficulty rises, it's nearly always better to have a lot of hashing power as fast as possible (--> GPU). - Most important: USD per MH/s when buying
If it is stable or goes down, it's better to have the most efficient miners possible. - Most important: MH/s per Watt when running
There are also better GPUs for USD per MH/s than 7970s I think.
If it is stable or goes down, it's better to have the most efficient miners possible. - Most important: MH/s per Watt when running
There are also better GPUs for USD per MH/s than 7970s I think.
May 08, 2012, 06:36:44 AM
I''ve just updated the plan to switch from ZTEX to BFL.
Why put all your eggs in one basket? May 07, 2012, 10:16:04 PM
I''ve just updated the plan to switch from ZTEX to BFL.
May 07, 2012, 09:52:55 PM
(Moved this post to https://bitcointalksearch.org/topic/m.887606 )
May 05, 2012, 10:48:27 PM
That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?
They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.
Oh, he works for them? I wish people would indicate what company they work for, like in their sigs or something. Still, 4 Spartan 6s, ~800mhash for $640? That sounds very wrong.
From the OP in that thread:
The price guaranteed until the end of June 2012 is GBP £400 / USD 640 / 520 Euros (plus tax and shipping). We are selling at the cost to manufacture price until we do the work of benchmarking it and check it working with the Bitcoin interface software. After we complete the benchmarking/software work the price will increase by 50% to cover our costs in doing this work and general support.
Sounds like they're selling the "beta" version at cost for now.
More like alpha version. Does anyone even know of the Spartan 6 bitstreams even work on them? I looked through the thread, but it doesn't seem to mention anything.
May 05, 2012, 10:46:11 PM
That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?
They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.
Oh, he works for them? I wish people would indicate what company they work for, like in their sigs or something. Still, 4 Spartan 6s, ~800mhash for $640? That sounds very wrong.
From the OP in that thread:
The price guaranteed until the end of June 2012 is GBP £400 / USD 640 / 520 Euros (plus tax and shipping). We are selling at the cost to manufacture price until we do the work of benchmarking it and check it working with the Bitcoin interface software. After we complete the benchmarking/software work the price will increase by 50% to cover our costs in doing this work and general support.
Sounds like they're selling the "beta" version at cost for now.
May 05, 2012, 10:42:12 PM
That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?
They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.
Oh, he works for them? I wish people would indicate what company they work for, like in their sigs or something. Still, 4 Spartan 6s, ~800mhash for $640? That sounds very wrong.
May 05, 2012, 10:36:12 PM
That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?
They are being made by the existing FPGA company Enterpoint: http://enterpoint.co.uk/contact-us/They haven't delivered yet, but they have one of the fastest development turnarounds that I have ever seen from any manufacturer. They expect to ship soon, and then I suppose there will be some reviews.
May 05, 2012, 09:57:13 PM
I think I found a possible alternative to ZTEX quads here
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
That's too expensive. Why not try this one https://bitcointalksearch.org/topic/cairnsmore1-quad-xc6slx150-board-78239 almost half of what that one will cost you, and is still a quad board.
Around $1/mhash isn't expensive, thats the going rate for 45nm FPGAs. Trying to get cheaper than that usually ends with a product that won't last long. $640 for 800 mhash sounds rather impossible.
That said, I'm not going to do business with someone that hasn't proven themselves to the rest of the community. Does anyone even have any of yohan's boards yet?
May 05, 2012, 04:27:46 PM
I think I found a possible alternative to ZTEX quads here
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
That's too expensive. Why not try this one https://bitcointalksearch.org/topic/cairnsmore1-quad-xc6slx150-board-78239 almost half of what that one will cost you, and is still a quad board.
We are selling at the cost to manufacture price until we do the work of benchmarking it and check it working with the Bitcoin interface software. After we complete the benchmarking/software work the price will increase by 50% to cover our costs in doing this work and general support.
May 05, 2012, 04:24:32 PM
I think I found a possible alternative to ZTEX quads here
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
That's too expensive. Why not try this one https://bitcointalksearch.org/topic/cairnsmore1-quad-xc6slx150-board-78239 almost half of what that one will cost you, and is still a quad board.
May 04, 2012, 06:59:36 PM
I think I found a possible alternative to ZTEX quads here
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
http://www.btcfpga.com/index.php?route=product/product&manufacturer_id=11&product_id=50
Anyone try one yet?
May 03, 2012, 05:04:27 PM
And now back to our regular scheduled vote thread.
May 03, 2012, 04:52:56 PM
Okay the official Deathbylollipop irc channel has been created.
It is listed under the freednode server.
My screen name is n0n00dz4u.
Let me know when you guys want to talk bitcoin!
It is listed under the freednode server.
My screen name is n0n00dz4u.
Let me know when you guys want to talk bitcoin!
May 03, 2012, 04:28:24 PM
Awesome I have the client running now
Just watched a 10 minute tutorial on youtube for a one word command but it was a good way to brush on the software
Thanks!
Just watched a 10 minute tutorial on youtube for a one word command but it was a good way to brush on the software
Thanks!
May 03, 2012, 03:47:50 PM
Okay I have xchat downloaded and am on the freenode server.
Looking up irc channel creation code now
You just join the channel that you want, and it will be created if it doesn't already exist. To chat with lots of people you can join #bitcoin. Looking up irc channel creation code now
May 03, 2012, 03:46:00 PM
Okay I have xchat downloaded and am on the freenode server.
Looking up irc channel creation code now
Looking up irc channel creation code now
May 03, 2012, 03:14:59 PM
Yes I see the client I was using mIRC requires 20 dollars before its activated.
I actually downloaded IRSSI when I set up i2p but never got a chance to get it running.
I will look into setting up an IRC channel today.
I will be sure to keep everyone posted.
Thanks for your support!
I actually downloaded IRSSI when I set up i2p but never got a chance to get it running.
I will look into setting up an IRC channel today.
I will be sure to keep everyone posted.
Thanks for your support!
mIRC is a scam. Just use silverex's build of xchat (not xchat upstream). http://www.silverex.org/download/
Put a channel on freenode, thats where the rest of the community is.
May 03, 2012, 02:57:07 PM
Yes I see the client I was using mIRC requires 20 dollars before its activated.
I actually downloaded IRSSI when I set up i2p but never got a chance to get it running.
I will look into setting up an IRC channel today.
I will be sure to keep everyone posted.
Thanks for your support!
I actually downloaded IRSSI when I set up i2p but never got a chance to get it running.
I will look into setting up an IRC channel today.
I will be sure to keep everyone posted.
Thanks for your support!
May 03, 2012, 02:47:39 PM
We currently have the IRC client downloaded and are operating under the free 30 day trial period.
I definitely plan on registering my account and then I will absolutely set up a channel for future advertisement discussions.
I definitely plan on registering my account and then I will absolutely set up a channel for future advertisement discussions.
That... was a joke, right? IRC is free!
May 03, 2012, 02:11:13 PM
We currently have the IRC client downloaded and are operating under the free 30 day trial period.
I definitely plan on registering my account and then I will absolutely set up a channel for future advertisement discussions.
I definitely plan on registering my account and then I will absolutely set up a channel for future advertisement discussions.
That... was a joke, right? IRC is free!
May 03, 2012, 02:00:34 PM
We currently have the IRC client downloaded and are operating under the free 30 day trial period.
I definitely plan on registering my account and then I will absolutely set up a channel for future advertisement discussions.
I'll post an update in the DBL Advertisements thread in the marketplace services section for future reference.
Here is the link for tracking: https://bitcointalksearch.org/topic/deathbylollipop-advertisements-77845
I definitely plan on registering my account and then I will absolutely set up a channel for future advertisement discussions.
I'll post an update in the DBL Advertisements thread in the marketplace services section for future reference.
Here is the link for tracking: https://bitcointalksearch.org/topic/deathbylollipop-advertisements-77845
May 03, 2012, 12:11:33 PM
Did a video helping build interest in your venture as well as the success of the mu ipo.
Check out my post here: https://bitcointalk.org/index.php?topic=70592.120
Check out my post here: https://bitcointalk.org/index.php?topic=70592.120
Watched the video. Does Deathbylolipop have an IRC channel anywhere?
May 02, 2012, 08:14:56 PM
Did a video helping build interest in your venture as well as the success of the mu ipo.
Check out my post here: https://bitcointalk.org/index.php?topic=70592.120
Check out my post here: https://bitcointalk.org/index.php?topic=70592.120
May 02, 2012, 03:34:01 PM
I think that a large, transparent mining company would be good for bitcoin.
Glad to see someone trusted in the community is trying to do it.
I thought (and still think) that 1 million BTC is a lot to raise. Hopefully less is enough to get a top-notch mining company going.
Glad to see someone trusted in the community is trying to do it.
I thought (and still think) that 1 million BTC is a lot to raise. Hopefully less is enough to get a top-notch mining company going.
May 02, 2012, 02:58:49 PM
Yes, he clarified that. Much to my disappointment.
A 51% attack doesn't make much sense, anyways.
Well, hows this. Everyone wants me to do a 51% attack? Fine. Get a share majority, pass a motion. I know you anti-Bitcoin people out there have money, put it where your mouth is.
May 02, 2012, 02:55:26 PM
Yes, he clarified that. Much to my disappointment.
A 51% attack doesn't make much sense, anyways.
May 02, 2012, 02:25:53 PM
Yes, he clarified that. Much to my disappointment.
A 51% attack doesn't make much sense, anyways.
May 02, 2012, 12:14:03 PM
Yes, he clarified that. Much to my disappointment.
May 02, 2012, 10:29:42 AM
As someone who voted yes, i want to change my vote to no. Investing big, but not.going for efficient scale (51% attack) is stupid.
Erm, I don't think Diablo's original intent was ever to launch a 51% attack.
May 02, 2012, 10:28:51 AM
As someone who voted yes, i want to change my vote to no. Investing big, but not.going for efficient scale (51% attack) is stupid.
May 02, 2012, 10:10:07 AM
Great to see you still want to go forward with your plans (and still dare to aim quite high 
)!
)!Agreed. As someone who voted no, I certainly don't want you to give up, just scale back a little bit.
May 02, 2012, 07:12:26 AM
Great to see you still want to go forward with your plans (and still dare to aim quite high )!
)! May 02, 2012, 05:14:55 AM
The previous poll, should I start DMC, ended 49 for, 64 against. However, most of the people who voted against this liked the plan but considered 1m impossible (although they gave no evidence to back up their claims).
So, we're back to voting again. No one can see the results until after the 7 days are up.
Contract: https://bitcointalksearch.org/topic/m.861305
Plan: https://bitcointalksearch.org/topic/m.867837
So, we're back to voting again. No one can see the results until after the 7 days are up.
Contract: https://bitcointalksearch.org/topic/m.861305
Plan: https://bitcointalksearch.org/topic/m.867837
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