Topic: 📈 NastyFans: The Bitcoin Enthusiast Fan Club (est. 2012) - page 105. (Read 958995 times)

Excellent find.
Very reasonable approach and argument.
That is great that they have checked into it so closely.

Official word: https://litecointalk.org/index.php?topic=18166.0

while we are on the topic, what about chips from AsicMiner? They should be testing the first batch and we'll probably know real specs and price in a few days, but the theoretical specs were about 0.3 J/Ghash and 0.5-1$/Ghash, which seems pretty competitive to me... of course this is for the chips only, full boards would cost more per Ghash

Generally speaking I must agree that I remain skeptical with the preorder economy: why should you effectively loan bitcoins with 0 interest and without any certainties on what you'll be getting and when?

Having said that, I must also agree that I know nothing about mining and OgNasty obviously knows a thing or two

No.  Hopefully BFL delivers a quality product.  Seems the rest of the manufacturers aren't exactly raising the bar.

Any word on them fixing the hashing rate of the Cointerras ? Bit of false advertising if they say 2TH +- 10% then you get -50%

Yes I agree the refund option is a good one, and definitely adds to the value of pre-orders, assuming it is honored. I have no reason to think otherwise in this case. I had a small share of a a blackarrow group buy and did get a refund.

By burned I mostly meant that everything has been very late, and the Cointerra box is underperforming as well.

I think we paid ~$6,000.



Not really.  I don't think we've been burned by preorders at all.  We had some unfortunate timing with our loans, but that's it.  I think we have some of the best equipment available on the way to us very soon and the preorder we're requesting a refund for is going to be an instant +>200% ROI.  AntMiners are a small step above BFL singles and Monarchs are a giant leap.  As always, I will keep my eye on the future.



No, and I think they would be foolish to do so.  That's sort of like spitting in the face of your biggest supporters.  However, if they did make that decision, there would be no shortage of miners willing to sell their LTC and move onto a scrypt friendly coin to mine with their ASIC equipment.

EDIT:  After reading the Devs official response on the LTC situation, I don't think they will EVER change the algorithm.  This is because their network is already controlled by ASICs.  The most likely result of them changing the algorithm would be ASIC miners continuing the LTC chain while the LTC Devs beg people to support their alternative chain.  Mass confusion would cause them to have to rename their new LTC chain and their supporting vendors would be told how much less secure the new chain is compared to the ASIC protected old chain.  In short, I am as concerned with LTC changing their algorithm as I am with BTC doing the same.  I'm not.

Any word on whether the litecoin developers plan to change the hashing algorithm on litecoin to be asic resistant?

With your previous answer in mind, do you think it makes sense at all to start to pull back from preorders and shift more toward a strategy of buying equipment that is immediately available (even though it perhaps doesn't look as good as the preorder gear)?

It seems we have consistently been burned to a greater or lesser extent with pre-orders, and have not participated in some of the better ready-to-ship deals (thinking of AntMiner S1's from December that are now +ROI, with later S1's looking very likely to go +ROI soon).

I agree with your decision.  By the time we get the black arrow the difficulty is going to be a lot harder and we may never break even and if the price of bitcoin increases by then there would be even less resale value since reselling it would be in USD with the cost of bitcoin a lot higher then it is now.

How much did the Black Arrow unit cost?

I don't think they would be a good investment for Nasty Mining.  I believe we're better off waiting for our 90MH/s from Alpha Technologies.

OgNasty, any thoughts on the gridseed scrypt miners? I've seen them as low as $175. Expensive, but pretty power efficient, and available immediately.

I've decided to request a refund for our Black Arrow unit.  I think by the time we would actually receive it, we would not be able to resell it at the price we paid in USD or BTC.  Since we bought the unit when BTC was >$1,000, I think this provides us an opportunity to more than double our BTC instantly, and don't think we would ever be able to recoup that BTC mining with the unit.  I think these funds will be better used to pay for future equipment purchases.  No word on when a refund will be dispensed.

Distribution 292973 is complete. Thank you to our donators.

That rocks!
 

Yes. Block 290990 was mined by NASTY MINING. 

It actually updates automatically every few minutes.  The forum implemented some kind of built in image cacheing service, so it only updates every so often on this thread.  The iOS App stays current though.  

I just noticed you have updated the screenshot of your terminal on page 1. A best share of 52G , fully blown sickness man.

Very well said.
What, it really does get buyers excited then changes that to anger when they do not follow through.
I have been thinking more and more I want one of the BFL Monarch's.  I sent them an email to see if they will have a sample I can test and review for an article on CCN.  I hope they will agree I cannot afford one any other way .
I love testing new equipment and writing about it.  I will have a OneString Miner review publishing in the next couple days. 
Let me know how it runs Og when you get it.

It is very normal in todays hardware industry that products are funded and then horribly late. But it is not normal that end users are aware of it. As example: if instead of crowdfunding with end users BFL could get Sony as sole investor the hardware delays still exist but no one knows except Sony. When the hardware finally finished then Sony does big marketing and sells out the stock. And every one except maybe Sony is happy.

I expect there are companies out there that are doing things like this. So I expect one day we will see a big company suddenly announce ready products. But I think this does not happen until dust from ASIC rat-race settles.