Topic: LTCgear.com, the best scrypt/scrypt n/X11 cloud mining service, Not paying!!! - page 187. (Read 361391 times)

I think it means it will pay 30000 KH /2.5 which equals 12000 KH or 1.2 MH per 1 share

I wanted to purchase 1 share of the new Asic 2nd generation reservations but I guess I am too late. I noticed they have the 10 pack still available. Does anyone going to make more of the single shares available?  Thanks.  

Did the statement not say   1/2     .5    of scrypt, but all squished uptight?
Thats how i read it anyway.

Still no payment for me

Got it set to LTC, last week got it no probs

Lol.. bit confusing!!

But seems interesting 

Well yea.. a better explanation will be great..
What does it mean in LTC/BTC weekly ?

Thanks!

I dont understand.. how many mhs will this 300$ product hash in the
meantime (befors the new chips)?

It is the future!  hahaha

2nd Gen pre – ASIC share 10 unit

Product Description

This product will reserve the right to use of a 2nd generation ASIC equivalent to:
- 13000 kHs Neoscrypt algorithm
- 30000 kHs Scrypt algorithm
- 95000 kHs X11 algorithm
- equivalent of (27 – 30)  x Radeon 290 Lyra2RE (estimate, final numbers after hard fork)

The payout algorithm is selected either by “coin choice” or best paying if neutral coin is selected (“BTC” or “LTC”). Other algorithms will be listed as soon as they are available.

This unit will pay 1/2.5 of Scrypt algorithm until 2nd ASICs are received (mid January)

Can somebody explain what it is?

Note by Chris:

Despite my love to keep things private as long as possible, especially waiting VTC hard fork, it seems it is not possible this time.
I got a bit forced to move on. I will try to keep it as concise as possible (almost impossible job).

Basically I gave you hints about a second product, yes, it’s indeed another ASIC.
Well, not like the others, it’s different by several key attributes which were selected after this years of experience in farm mining.

First of all, it’s not a 28 nm chip. If one retails its chip, of course, it needs the highest density, the best power consumption ( at maximum speed), and maybe the fanciest technology (sells better). He needs to pack as much power, which ultimately gives product price per unit of volume, to get profit.
However, for someone not looking to sell hardware but use it for farming, density is not real a key element, power consumption may not be either an issue if chip can be throttled to get better efficiency, and farm may get better price for electricity than end user.
There is another issue when moving to lower technology nodes, since development price and time increase, chip price increase and runs outputs are finite, designers will tend to pack maximum of logic in minimum on space. This may result in several draw backs like poor thermal performance, poor electrical performance, etc. (these are basic).

This may result in other design decisions. When hashing BTCs things were simple, SHA256 is a simple algorithm which moves things around without big memory requirements.
This was quickly exploited by new coins designers, which added RAM requirements to their algorithms (or selected algorithms with bigger RAM requirements). The key thing is that, if they want to have an ecosystem around their new coin, they will need to stop arbitrary increasing the RAM size to the point where CPU or GPU can still hash their coins (and this is a good thing for alternate hardware designers, since coin designers can’t run wild with RAM requirements, if your alt hardware behaves at least like a CPU, he will hash at least like a CPU – of course, it does not need to implement all instruction or registry set, or memory management, etc. Same stands for GPU like).
The problem with 28 nm or less is that memory IP (adding arbitrary memory to chip) is somehow expensive in terms of area (which renders in hash density per chip).
So 28 nm (close or less) will most likely use outside RAM and high density logic. When doing so, they will most likely use commercial level packed RAM like regular DDR3 chips or similar (which, btw, technologically are not 28 nm).
By doing so, their chip enter another trap, the DDR ram has a big issue, while it is perfectly able internally to access data at max speed, the job itself of accessing DDR data at max speed from outside (from a connected CPU or ASIC) requires complicated ASIC hardware/firmware tuning algorithm based if speed is a requirement, this means that usually ASICs with external RAM may get some penalty when attempting to change algorithm (even if ASIC allows changes).

Even if this expensive ASICs have the ability to arbitrarily reconfigure themselves, they will ultimately ran into bandwidth issues which will return as poor performance.

To cut things short, instead of chasing most expensive and advanced technology, we simply turned orthogonally and chosen a design around a memory IP and a fab specialised in memory solutions and added sort of reconfigurable logic around (almost the same kind as other designers). It still can access outside memory, but current design don’t use it for costs reasons.
It’s not the newest technology.
The new ASIC won’t be the king in Litecoin, but it will survive in a farm, at the same time is doing the best job in the jungle of new algs with low-med difficulty. All this at a decent price.

And now to return at the starting point, I got informed on short notice that our fab will perform next run on this tech earlier than expected, in mid January, then will get two months of hiatus (March).
The first plan was quite different, but it changed, will list some pre-asic shares for those wanting to grab this product.
The original plan was to get stock ourselves and replace existent shares via payout conversion, marketing events and other similar ways, but there is not enough time left to move on this way

This means there is another ASIC generation coming??

Is there a way to get paid today a newly registered and share transferred past 2 days ago?

Litecoin is very low atm, so in LTC, if the exchange rate goes up, ka-ching

Btw I'm happy too with me purchase.
Got my payment while sleeping.

Just a question...
Is better to get payed in LTC or BTC?
What you people doing? i'm just a noob

Thanks

GOT MY PAY OUT

Maybe we should all have a bit more confidence in Chris, he is one of the few answering and actually providing proof of his farm. I can see it happening that Chris gets so annoyed at the ponzi accusations, that he'll one day fullfills your self fulfilling prophecy.


LTCGEAR.com is one of the best and first cloudmining company, lets give him some credit!

Chill guys, I normally get paid a bit later than this.
Chris said there were some double spends mistakes, just gonna take some time.
Maybe go enjoy some fresh air.

Wasn't worried at all, just updating you guys.

Just got my pay out.

oh here it comes

just got a payout for my small account. nothing on my big one.

still havent got paid

Sikman and Pug, do you guys have Dual Mod or just ASICs?