not another fpga mining contract on glbse - page 2.

talpan

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Activity: 228

Merit: 100

Quote from: molecular on March 10, 2012, 03:30:02 AM

I chipped in 5 BTC (which I want back) for the GLBSE setup.

what's the status, can't wait to buy some shares and get the first order going Wink

Thank you very much

[qoute author=mila]
fees should be lowered 'soon'
latest with 2.0 glbse
and since it was anyway just a scam prevention
id verified issuers could negotiate a lowered fee anyway
questionmark
[/qoute]

Well, for now there are fees. Glbse 2.0 isn't finished yet.

regards, talpan

mila

sr. member

Activity: 462

Merit: 250

fees should be lowered 'soon'
latest with 2.0 glbse
and since it was anyway just a scam prevention
id verified issuers could negotiate a lowered fee anyway
questionmark

molecular

donator

Activity: 2772

Merit: 1019

I chipped in 5 BTC (which I want back) for the GLBSE setup.

what's the status, can't wait to buy some shares and get the first order going Wink

talpan

full member

Activity: 228

Merit: 100

Quote from: ?? on ??

LOL! no need to book a flight my friend, why not just use this:

http://shipito.com

Also, if customs find your bitforces in the airport, they'll still make you pay for the import duty.

Thanks, I will take a look at this.

And thx to nefario (glbse) for verifying my identity

Nefario

hero member

Activity: 602

Merit: 513

GLBSE Support [email protected]

I have verified talpans identity.

The home address, phone number, email and photo ID.

Nefario.

talpan

full member

Activity: 228

Merit: 100

Quote from: molecular on March 08, 2012, 09:11:22 AM

Imagine customs checking your luggage...

customs1: "dude, what is that?!?"
customs2: "looks like some strange hardware to me."
customs1: "hey, traveller, what is that stuff"
you: "well, those are butterfly bitcoin miners"
customs1: "what?!? what is bitcoin? is it a weapon?"
you: "a decentralized cryptocurr..."
customs2: "MONEY LAUNDERING MACHINERY!!! ARREST!"
customs1: "What?!? A washing machine for money?"

Let's see where this goes

Replied to your PM Bitbird.

Bitbird

full member

Activity: 234

Merit: 100

I want in. Cool

DeathAndTaxes

donator

Activity: 1218

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Gerald Davis

There is a warranty it is 180 days. I would imagine at least in near future than RMA would be taking a lot longer than 2 weeks though.

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Quote from: talpan on March 06, 2012, 12:50:18 PM

Quote from: John (John K.) on March 06, 2012, 12:18:46 PM

Your electricity rates wouldn't much do you good as compared to someone who has lower rates and uses gpus to mine.

Sorry but I'm not seeing this.

8320gh/s for both as a comparison

10 BitForce single @ 800W with $0.3 kwh
Power cost per 24h: 5.76 USD
Revenue per day: 26.55 USD
... less power costs: 20.79 USD
System efficiency: 10.00 MH/s/W

33,28 6850 (each 250mh/s) @ 6656W with $0.1 kwh
Power cost per 24h: 15.97 USD
Revenue per day: 27.62 USD
... less power costs: 11.64 USD
System efficiency: 1.25 MH/s/W

Feel free to calculate this for other cards too.

calculated with: http://bitcoinx.com/profit/index.php

As what D&T said, it's possible to have higher efficiencies with 5xxx series cards, particularly the 58xx and 5970 series. And the hardware would have a longer life expectancy when running more efficently. If it fails though (just happened to me recently with a 5870 and a 5850 dead), you could RMA em and have them back in 2-3 weeks. And there's the inherent problem of one of those bitforces suddenly dying as there's no mention of warranty (I could be wrong, so correct me).

Where's your country? I find it astonishing to have power rates at $0.30 per kWh as your rates are beating even industrial power rates in my country. For domestic use, my power rates go like $0.06 - 0.12 and its already quite high as compared to other countries.

molecular

donator

Activity: 2772

Merit: 1019

Quote from: VVS dump on March 06, 2012, 08:53:49 AM

1) that's what I thought
2) 0.25 eurocents per kwh, 0.20 if you get lucky.
3) he probably does, but whats more important is that there apply about 200 USD in customs taxes which he'll have to pay too.

to be honest - when I bought my bitforces, I purchased a cheap flight to Florida as well, because it was way cheaper to get them delivered to a US street address and then smuggle them back home.

really, you did that? That must've felt pretty weird.

Imagine customs checking your luggage...

customs1: "dude, what is that?!?"
customs2: "looks like some strange hardware to me."
customs1: "hey, traveller, what is that stuff"
you: "well, those are butterfly bitcoin miners"
customs1: "what?!? what is bitcoin? is it a weapon?"
you: "a decentralized cryptocurr..."
customs2: "MONEY LAUNDERING MACHINERY!!! ARREST!"
customs1: "What?!? A washing machine for money?"

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

Why would hardware have a shorter life expectency when running more efficiently. Lower voltage, lower clock, lower current, lower thermal stress = shorter life?

Quote

May be there are others who live in a country like germany where the power costs
are that high and they like the idea of the project itself.

Well then hopefully you sell a lot of shares. Best of luck.

talpan

full member

Activity: 228

Merit: 100

Hello,

I think 4MH/W is a bit high-flying, you have to consider that the hardware has a shorter
expectancy of life. But well, yeah my choice wasn't may be right.

May be there are others who live in a country like germany where the power costs
are that high and they like the idea of the project itself.

regards,

talpan

Edit: currently it looks like I'd have to pay 19% VAT, but I'm not so sure about this yet Wink

, I'll be investigating.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

I have 20GH/s in 3x5970 rigs getting 2.5 MH/W (870W AC at the wall for 2.125 GH/s).
I am moving them to 4x5970s to push efficiency even higher (2.7 MH/W). I am not moving them for fun I am moving them to ensure I stay ahead of the efficiency "race". If network efficiency forces me to be more competitive I have already tested I can undervolt & underclock to get > 4 MH/W.

Daily operating cost per 1 GH/s @ $0.09 per kWh
Currently - 2.5 MH/W Cost per day per GH/s = $0.90
Modified Farm - 2.7 MH/W Cost per day per GH/s = $0.80
Undervolted - 4.0 MH/W Cost per day per GH/s = $0.50

Daily operating cost per 1 GH/s @ $0.30 per kWh
Best Case (10 MH/W) = $0.72
As Observed (9.25 MH/W) = $0.78
With 150W host overhead (8 MH/W) = $0.90

Rigs with 7970 can do better (bad news for me). Rigs with 7990s can likely push even higher.

$0.30 per kWh is like the top 1% of electrical rates in the modern world. Kinda hard to be competitive. Even if you were having the same exact farm using same components somewhere that has $0.10 electricity would net investors $1800 more annually.

talpan

full member

Activity: 228

Merit: 100

Quote from: John (John K.) on March 06, 2012, 12:18:46 PM

Your electricity rates wouldn't much do you good as compared to someone who has lower rates and uses gpus to mine.

Sorry but I'm not seeing this.

8320gh/s for both as a comparison

10 BitForce single @ 800W with $0.3 kwh
Power cost per 24h: 5.76 USD
Revenue per day: 26.55 USD
... less power costs: 20.79 USD
System efficiency: 10.00 MH/s/W

33,28 6850 (each 250mh/s) @ 6656W with $0.1 kwh
Power cost per 24h: 15.97 USD
Revenue per day: 27.62 USD
... less power costs: 11.64 USD
System efficiency: 1.25 MH/s/W

Feel free to calculate this for other cards too.

calculated with: http://bitcoinx.com/profit/index.php

John (John K.)

legendary

Activity: 1288

Merit: 1227

Away on an extended break

Your electricity rates wouldn't much do you good as compared to someone who has lower rates and uses gpus to mine.

DeathAndTaxes

donator

Activity: 1218

Merit: 1079

Gerald Davis

$0.30 per kWh?

You aren't going to be any more competitive than a good GPU miner with low electrical rates.

It would be like someone saying. I want to startup up a growth GPU mining contract (@ 8 cents per kWh) because GPUs are the future of mining.

Nefario

hero member

Activity: 602

Merit: 513

GLBSE Support [email protected]

Watching.

HorseRider

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Activity: 1120

Merit: 1001

OP's Identity? please.

talpan

full member

Activity: 228

Merit: 100

Thanks for the replies

.

I've corrected the number of BitForces, it was just a typo.
The rest of the numbers are based on 10 BitForces.

Quote

Also, your statement that there are only one-time mining contracts without growth opportunities is incorrect Wink

I said "almost" Wink

As for the VAT, checking that now, haven't thought about it thank you very much for the hint.
And the price per kwh is 0.23€ ~ $0,30.

kind regards,
talpan

Glasswalker

sr. member

Activity: 407

Merit: 250

You should be clear that in order to reach 8Ghash/s you will need 10 BFL Singles.

Also, your statement that there are only one-time mining contracts without growth opportunities is incorrect Wink

See the post about the Bitcoin Syndicate here in this forum (or go to our site at: www.btcsyn.com) to read up on how we operate Wink

(note, not intended as an advertising post, we've already completed our IPO, I'm simply posting an example of another mining op that does what the OP suggests, a growth oriented publicly traded mining op).

Good luck with your venture!

Topic: not another fpga mining contract on glbse - page 2. (Read 7341 times)