Topic: LargeCoin Pricing Announced; Taking Pre-Orders - page 9. (Read 30323 times)

Wow.

(Sorry for offtopic, but I really had to leave some ambiguous comment here)

When I do these kind of calculations, I try not to take price into consideration by comparing this miner with buying bitcoins. With $30k now, I can buy 6000 bitcoins today at the $5/btc price right now. According to http://www.alloscomp.com/bitcoin/calculator.php at current difficulty (1496978.59503), 20 GHash/s earns you ฿408.51. Let's also assume difficulty stays constant. So from July to December, you will earn ฿2043 (5 * ฿408.51), then mining reward halves and you only make ฿204.25 a month. So it will take an additional 19+ months (19 * ฿204.25) to make back the remaining ฿3957. So at least 24 months to breakeven.

If I had ฿6000 bitcoins today, would I use that to buy this miner? ROI is 24 months at the optimistic low end (where difficulty stays constant, 0% pool fees, and free electricity). If difficulty increases 1% a month, ROI increases to 30 months. At 2%, 39 months. At 3%, 64 months. At 4%, you would never make back your initial investment. The answer is an easy no. Warranty is only 90 days, yet you need at least 2 years to make back the money. If the hardware breaks down after a year, you are SOL.

LOLOLOLLOLOLOLOLLLOOOOOLLOLOLOLOLOLOL.

I hope this isn't serious. If I drop 30g's on something with a 90 day warranty, I don't want to worry about having to have my "token"  stop working for whatever reason.  As promising as the rig --SOUNDS-- its something I would suggest staying way the hell away from.

Heres a video of what I think about this whole complete "leasing model"

http://www.youtube.com/watch?v=KaqC5FnvAEc

Have fun picking this POS apart everyone. Im out.

The thing is: they will only produce 25 devices. After July we'll see what happens.

If they offered them for $10K I bet LargeCoin would have 1000 orders by the end of this month. At that price point, they would be undercutting Butterflylabs, wipe out GPU mining thus providing 90%+ of the overall mining capacity by years end, all while recovering their initial investment^* and making a good profit.

*An uninformed assumption

Yay, first unrestricted post.  

Of course, IMO.

LargeCoin's MH/W efficiency is impressive.  Though, even a vast reduction in W usage does not overpower LC's low MH/$ at current market conditions and low cost kWH areas.

Equating to ROI at 19 mo, quite optimistic figure considering volatile BTC, is passing a boundary that most mining investors are uncomfortable with.

Even still LargeCoin may be getting some pre-order interest.  Good for them.  Attempting to recoup their investment is important.

My feeling is that if LC's ROI is reduced by even 3-4 months that many more will jump on it.

I actually didn't know that escrow.com exists.

Thank you!

Just one more question: Why don't you use a well known escrow service, like escrow.com?
I'm guessing it will be because of the non-conventional payment methods(Bitcoin), but just want to be sure.

And yes, I may be interested in buying. I'm not asking just to rattle the cage. I know I usually do that, but that's not the case

We only have enough chips in our first run to build 25 units. We don't want to run more than this off the presses until we know that there's enough demand for these ASICs. Once the first batch is out, it will be relatively easy and quick to produce more. Yes, future prices will probably be lower, given Moore's law.

What puzzles me is: why are they only selling 25 units? Does this mean that later on they will sell them cheaper?

The escrow will be with a Canadian law firm based in Vancouver, British Columbia; escrow funds will be held in a lawyer's trust account in accordance with stringent trust account rules of the BC Law Society. I will be happy to share the escrow agreement with the forum when it's ready for release.

I'll ask again and if I'm ignored I'll start yelling SCAM...

WHO'S THE ESCROW?

No, I won't PM you asking for an answer, I want a public answer and it's on your best interest to give it.
Or do you have something to hide?

bulanula, since you have free power, 20x Rig boxes makes sense for you. However, my local datacenter would refuse to provide me with 400 amps of 120vac, so I need something lower power.

But $30 grand still isn't worth it to me for 20ghash. I'd rather buy just one Rig Box and dump the rest of my miners out the window.

No because TBH 2500W vs 100W is not really relevant to me and probably lots of others with cheap electric rates.

All that matters is MH/$ and the ability to deliver the product.

All this DRM is just total BS. I don't want any backdoors from the gov. in my miners.

Do you just not take into account that the c200 is ten times more efficient than the rig box?

Why do that when you can get the Rig Box

Rig Box

30k 50 ghash/s reputation so MH/$ ratio is 1.6

LargeCon

15k 20 ghash/s no reputation so MH/$ ratio is 1.3

Maybe less power but it still does not amortize over the long run enough to matter so what is the point even at 15k ?

yes

This stuff needs to be in the first post, and should have been there to begin with.

Regarding the ESCROW funds, you state that it wont be released until you ship the product ?

That is the concern yet again, shipping a product is different from product arrive and works as advertised thus if you clear the funds upon shipment you could still run with $4500 before the product reach the customer?

These are all legitimate concerns, and I'd have many of the same concerns if I was considering putting $4,500 into escrow, let alone spending $30K on a box. Let me take each of your points in turn:

1. $4500 is enough to build a fake and run off with the pre-orders.

I'd suggest you could build a fake for even less than $4,500. But in this case, we can't run off with the $4,500 because it will be sitting in a trust account with a law firm. That money won't be released to us until the units are validated to be working consistent with the specifications in the escrow agreement with each customer. Having the money in escrow helps us to know there's demand for the units, but we're not drawing on those funds in any way until shipment happens.

2. No one knows for sure you can accomplish this.

I can't argue this point.

3. You have no reputation, or testimonials of your past accomplishments.

True. Here is my LinkedIn profile: http://linkd.in/zh5OFB, and that of the co-founder: http://linkd.in/ynNuuO. These are consistent with LargeCoin Inc.'s incorporation data, which is available from Industry Canada: http://bit.ly/AkqCwM

As you can see from our LinkedIn profiles, the founders have product management experience with semiconductor companies, investment experience, and years of experience building and running technology companies.

4. I want to see your face, and more of web presence with an address and phone number

Check the LinkedIn profile. Or, fill in the order form http://bit.ly/zliQFj and I'll call you so that we can chat live.

5. You can't start small by selling low cost systems as part of building your rep between now and July?

No, this is impractical. The major hurdle is producing the ASIC, which just takes time. And, as others have pointed out, costs money too.