Considering ASICs can't mine scrypt...
Not anymore...
See Gridchip thread, Asic chip hashing at 70kh/s
Fine. Bitcoin ASICs can't mine scrypt.
grnbrg.
Topic: Lab Rat Data Processing, LLC (LabRatMining) Official Announcement - page 123. (Read 452224 times)
January 31, 2014, 10:48:04 AM
Not anymore...
See Gridchip thread, Asic chip hashing at 70kh/s
Fine. Bitcoin ASICs can't mine scrypt.
grnbrg.
January 31, 2014, 10:47:16 AM
If LRM's power cost is going to be sub $0.02 / kwh, probably all the old hardware will remain profitable for a long time to come as long as it doesn't become a maintenance issue (or physically get in the way of beefier hardware). Once it breaks or starts flaking out, either recycle or send to a good home for cost of shipping.
As far as SHA-256 alts, not sure if any are promising, but all the ones listed on comparison sites are almost always less profitable than bitcoin.
Those scrypt ASICs, while neat and a good POC, just don't seem appealing yet, especially when cheap power is available.
As far as SHA-256 alts, not sure if any are promising, but all the ones listed on comparison sites are almost always less profitable than bitcoin.
Those scrypt ASICs, while neat and a good POC, just don't seem appealing yet, especially when cheap power is available.
January 31, 2014, 10:37:35 AM
Considering ASICs can't mine scrypt...
Not anymore...
See Gridchip thread, Asic chip hashing at 70kh/s
January 31, 2014, 10:32:02 AM
Considering ASICs can't mine scrypt...
January 31, 2014, 09:47:20 AM
I was wondering if that old HW could mine some altcoin. That would go directly towards new HW. But I guess they draw to much electricity to be worth while?
January 30, 2014, 03:44:44 PM
.... Second, let us know if you do decide to sell old BFL gear. I'd be interested, if the price is reasonable. (i.e. There would have to be a reasonable chance that I could make back the cost) Although if you're getting power as cheap as you say, it might make more sense for you to keep them.
My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.
January 30, 2014, 03:23:13 PM
Lab_Rat, in the new venture LRM is involved in, can you tell us what % share LRM has in the new company?
I am interested to know how the new venture benefits LRM shareholders, besides getting access to cheaper HW due to volume. Will profits from the mining by dividend amongst shareholders and thus divided to bond holders?
I am interested to know how the new venture benefits LRM shareholders, besides getting access to cheaper HW due to volume. Will profits from the mining by dividend amongst shareholders and thus divided to bond holders?
January 30, 2014, 03:20:13 PM
.... Second, let us know if you do decide to sell old BFL gear. I'd be interested, if the price is reasonable. (i.e. There would have to be a reasonable chance that I could make back the cost) Although if you're getting power as cheap as you say, it might make more sense for you to keep them.
My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.
What about when it comes to a buying round, we are offered to chip in (say, US$100k), lowering the price by increasing the volume? Do it kickstarter style, such that if a minimum dollar value is not reached, the deal will not go through.
That way we get more LRM equipment for the same cost, plus for anyone wishing to run their own equipment they get the best deal possible.
This probably complicates things for LR/Dave, so maybe it's not a good idea, but if the savings are large enough it might be worth thinking about.
January 30, 2014, 03:16:31 PM
.... Second, let us know if you do decide to sell old BFL gear. I'd be interested, if the price is reasonable. (i.e. There would have to be a reasonable chance that I could make back the cost) Although if you're getting power as cheap as you say, it might make more sense for you to keep them.
My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.
Personal, not LRM opinion:
It might depend on the volume of hardware, and the number of items in each purchase. Packaging and shipping old hardware in ones and twos will take up a lot of time and energy.
What might make most sense is "Hey, LRM people! Free, old mining hardware. Pickup only, from my garage, which is nowhere near the DC! Hey, Kijiji people! Old mining hardware, $50 each. Pickup only, from my garage!"
grnbrg.
January 30, 2014, 03:00:35 PM
.... Second, let us know if you do decide to sell old BFL gear. I'd be interested, if the price is reasonable. (i.e. There would have to be a reasonable chance that I could make back the cost) Although if you're getting power as cheap as you say, it might make more sense for you to keep them.
My 2 satoshis is that we first sell old gear in the open market for the highest possible value in order to recapitalize it to new gear at LRM's advantaged rates. No sense passing along old gear to bondholders at discounts to market rates if we can convert that gear into hashrate for the benefit of all.
January 30, 2014, 02:05:41 PM
Dividends have to be sent back from the same address they were sent too, correct? How are you figuring out who returned their extra dividends?
If they are sent back from the same ones it just makes things easier, but the quantities are all pretty well unique and everyone has replied paid with the tx ID to my emails.
January 30, 2014, 01:31:50 PM
Dividends have to be sent back from the same address they were sent too, correct? How are you figuring out who returned their extra dividends?
January 30, 2014, 01:23:37 PM
Why doesn't reflect all of our hashrate yet?
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
I think he decided not to move more HW there. Because they have over 40% of the network.
This ^^^ The rest is on other pools ready to be moved over once GHash starts sliding back on % a little more.
January 30, 2014, 11:29:47 AM
[/quote]
Then he should update the page to reflect that, right?
[/quote]
Well updating that page seems to have been a low priority. I stopped looking for info there a long time ago...
January 30, 2014, 10:55:56 AM
Why doesn't reflect all of our hashrate yet?
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
I think he decided not to move more HW there. Because they have over 40% of the network.
Then he should update the page to reflect that, right?
January 30, 2014, 09:53:33 AM
Why doesn't reflect all of our hashrate yet?
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
I think he decided not to move more HW there. Because they have over 40% of the network.
January 30, 2014, 09:47:34 AM
It's pretty awesome seeing you here with all this rapid-fire feedback LR. Thanks for spending your own BTC to help advance the company!
I have no problem with that kind of thing, since, knowing you, you'd jump on an opportunity when it presented itself - for the good of all. Besides, it's much more than by-the-book logic that is getting us to where we'll be this year -- it's personality and the ability to effectively make connections!
I really want to ask more about the exchange, but I'll do my best to hold back. Whatever it is.. it will be worth the wait.
One question I do have: once the ball is rolling, do you think that being a LRM bondholder might possibly allow some of us to piggyback on hardware deals for personal use? (maybe a very limited quantity, or even some old gear you are dumping).
Made a lot of great connections in Miami.
Being an LRM bondholder will make me want to help you out more, but limited quantity purchases are actually worse than large ones. Getting ahold of a large amount of gear isn't a problem and more funds means lower prices. Might be dumping some old BFL gear once the new BFL gear comes in though.
First off, thanks for the update. The silence was stressing me out. Second, let us know if you do decide to sell old BFL gear. I'd be interested, if the price is reasonable. (i.e. There would have to be a reasonable chance that I could make back the cost) Although if you're getting power as cheap as you say, it might make more sense for you to keep them.
January 30, 2014, 08:58:14 AM
Why doesn't reflect all of our hashrate yet?
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
"Hashrate: 25+TH about to be moved to GHash.io/CEX.io"
Edited: Uploaded static copy of the above image. Bitcointalk didn't like the dynamic version.
January 30, 2014, 01:18:18 AM
AND PLEASE DONT LYNCH GRNBRG he's very helpful and only messed up once by letting the cat out of the bag a little early haha.
He turned me into a newt!...I got better...
January 30, 2014, 12:08:22 AM
One could go so far to say that it would be a complete and total conflict of interest.
This is why I'm not owning any hardware ever again... I've spoken to my lawyer and we both agree I can't compete with the company. In this case it's resulting in a contribution to the company so I see this particular case to be in the company's interest rather than against it.
Oh good, I can sleep tonight.
Enjoy your rest as well!
I actually haven't owned any hardware since I started LRM nor did I plan to. The only time I've had any hardware mining for me is this time. All of my purchases were added to the company at startup. I also haven't even taken a paycheck this year yet.
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