Topic: LargeCoin Pricing Announced; Taking Pre-Orders - page 5. (Read 30323 times)

500 of these babies at $15k would be like 15% of the total Bitcoins in existence (or $7.5 million dolla) spent on this. My bet is that at least a few would have to resell their GPU mining rigs to make that jump, but yes, this will probably drive difficulty (along with all the new upcoming products from the known FPGA developers like ngzhang, Ztex, BFL, X6500 etc).

The only sure and low-risk way of making money with all this seems to be making your own mining hardware, let others pay for development and production, and then sell it to us crazy miners (see BFL or this thread). Just kidding of course.

Just think, it only takes 500 of these (or 200 rig boxes) to match the current network hashrate of 10thash/s. With all the BFL rigboxes and LC C200s coming online in a few months, difficulty is about to explode. My previous calculation of 1 year breakeven at this lower price will be way off if difficulty explodes.

If they can afford to do that, their profit margin must be well above 50% at the regular price...

They just sent me an email that SIGNIFICANTLY MORE than 25 people have ordered one at $15,000 each, and they will honor all these [legally probably non-binding] commitments. So, you can give it a shot and try to order one on their order website. If it still says $15,000, chances are, you'll be in.

Any info on the company?
Is the offer for $15k still valid?

And price per BTC.

If this thing is real, price isn't going to stay put, a lot of GPU miners are going to switch, and the average miner willing to sell mined coin is going to decrease, at least temporarily. If demand for BTC remains the same, this means the price is going up.

It only exist on paper at the moment.

ttul when can we see a live demo and specs of the hardware and at what temperature is running and all every other info?

You don't know that from the information presented here. It may very well be possible, but the first run doesn't necessarily have to break even or make a profit in order to proceed with more units.

Absolutely agree.

And now we also know that the cost to design that thing (sASIC), including cases, power, software, DRM, etc has to be below $375,000. If they need an investor I am available via PM

Here is an idea. Let somebody pay for the $375k development cost and give them 25 units. Keep 75 or more by yourself and mine happily ever after with a free sASIC that you didn't have to pay for and nobody else will get. Even more evil clever would be if you build the thing with DRM, so that the 25 units are artificially limited to 20GH/s while yours have double the GH/s. Wouldn't that be something?

I wonder when are we going to see more than 90 days warranty...

If they were going to sell 0 units at the ridiculous price of $30K they really didn't give up anything (much less $375K).  Sure if they would have sold out anyways it would be stupid to lower the price.  Personally I don't think that was very likely.

Yes, lot's of if's indeed 

Didn't mean to bash them, as a business they just present themselves so strangely that thoughts like these crossed my mind.

Definitely interesting to watch though.

I like FPGA/ASIC approaches a lot, they cut the waste, being designed especially for the task. Worked with PGAs myself back in the early days...

That's a lot of if's wogaut

If I don't understand it wrong, they are not taking the customers money up front, so the only thing it would help them is getting a loan from the banks maybe after showing 25 escrow customers. But then why stop at 25? And if this has been worked out with the bank or another investor, you don't just decide to drop the price by $15k. It would only show them one thing, that you are total clown and best is not doing business with you. Wouldn't you agree?

I actually found that PDF on their web site very interesting a few weeks ago.

Interesting is also their estimation of 250 GH/s per rack using 5kWh power consumption they made back in Sep 2011. Now it's 4x the GH/s at 20% less power consumption (1 standard rack = 42U). They have been hard at work.

Whatever that C200 is, this will be interesting to watch.

I agree, that sounds really strange. I don't want to speculate on their intentions right now, but they do really crappy marketing and market analysis.

If you look at their website, there's just one page and a PDF article, that when reading it the first time, I thought many people here at the forum could have done a _much_ better job.

Then there's a product we have absolutely no information about, the 20GH/s @ 100W for a FPGA/ASIC system is something I did already come up in my daydreams under the shower or sitting on the pot. But that's about most we know about the product (ah yes, there's a license key, so they aspire confidence that the details have been worked on  ).

And to my knowledge there's no info on the companies qualifications for that project.

I'm not saying they are out to scam us, no I actually believe they might be doing it in the best intentions.
However, just thinking about BFL, those guys were given a hard time eventhough they have much higher credentials to show, had a more believable target, more realistic specs, a better idea about the pricing, and a prototype.

But on the other hand, just thinking, if I created an ASIC that could perform with these specs, I might realize that I didn't have the cash to produce it on my own, keep it for myself and mine happily ever after. So I'd start a company for the sake of building that machine, have someone share costs and effort, and once that's covered stop selling (or sell it at a price that would also cover my mining profits) and focus on my own mining operation. So with that motivation, I wouldn't care about web page, marketing, or making a profit with selling the product. I would just be concerned with getting it off the ground, produce it and get mining.

Hmm, product announced for $30,000. After a few days you decide to give it away for $15,000 and therefore giving up $375,000 (25x$15k) because you listened to the people here on the forum and you want to build a trust base. Is this a joke?

When you sign up using the form, you don't put down the deposit right away. When they get back to you with the escrow detail, then they will ask you to put down the deposit. I assume at that point, they will let you know whether or not you are one of the first 25 and you can decide then if you actually want to go through with the order.

Awesome.

GPU miner will be killed.

It's not the concern of being able to raise the $30k vs. $15k.
ttul wrote, although there are already more than 25 requests he encourages people to sign up and get on a "waiting list" in case someone drops out.

So if I pay $2250.- to be on a waiting list and it turns out that I won't get the $15k deal then I want my deposit back. $30k are not economical; it takes already 10 months to break even with $15k.

And if ttul says anyone not getting into the $15k deal would automatically go into the $30k bracket, this is defacto like signing a contract for an unspecified price. As others have noted, this is 'bizarre', so I was compelled to ask this naive question.

But maybe I didn't understand something there...

Here's an updated calculation based on the updated price. The unit is guaranteed to deliver by 7/31/12 and the cost is $15,000 or ฿3000. Assuming difficulty is 1,496,979 and doesn't change and mining rewards halves on 12/10/12. And lastly assume no power cost.

Month	Bitcoins Mined
08/12	฿410
09/12	฿410
10/12	฿410
11/12	฿410
12/12	฿273
01/13	฿205
02/13	฿205
03/13	฿205
04/13	฿205
05/13	฿205
06/13	฿205

So you will make back your ฿3000 by around June of next year. Breakeven is ~10.5 months assuming no power costs and difficulty stays constant.