Topic: Novello Technologies new Mining System Project, prices as low as $0.3/GH - page 10. (Read 40562 times)

Well.lets see....I've been mining since June 2011 & started with $1000 in vid cards & PC parts & made out very well.Well enough to upgrade with my earnings until now....the cost of miners & power consumption is what has turned me to altcoins,those will be hit with diff rises soon too, but with many coins to choose it'll be easier to keep going.Not to mention considerable reduction in power consumption & lower cost of miners.

I read your plan & IF you keep your prices low & IF you deliver,it MAY work.I personally can't chance it.December is a long time to wait for a return,if it works...........

I've been unemployed due to our wonderful bank & wallstreet greed & our gov's failure to get the economy rolling & inflation under control.So my personal earnings are not going to feed the miner makers.

Yes I am a pessimist,you would be too if you were in my shoes.....

30 years of construction & service industry work(HVAC install,service/Electrician/Plumber/Carpentry/Roofer/Painter) that is worthless here in Fla..............

There is nothing anonymous about the company or it's director.

But thanks for answering our question, good to know you've got something to keep you occupied.

Dear me, that's a very pessimistic attitude, If you look at our plan, we predict a network hash rate of 280PH by December...our systems will still be very viable at that time, please look at the section about 'Jane', our typical citizen from Colorado who pays about the same you do for electricity. Look at the prediction we made for her earnings using our Guaranteed Supply Program, it was based on BTC at $500, not $600 or $700. Jane would make over $2200 off her miner plus the upgrades in 2015, even when the network hash rate hits 500+PH by the end of 2015.

So please look at the plan again. Thanks for your good wishes, please keep watching our project, if you would like to be added to our
e-mailing list, drop us a line.

You want people to give you millions of dollars, yet you want to remain anonymous. You'll never reach your funding level on Indigogo. But good for you, you selected the "Flexible Funding" option, so that you get all the money no matter what. The perfect scam.

Public Service Announcement

This "company" will fail. They do not have the funding, nor the expertise, to make it to a final product. Invest only what money you want to lose. They will never deliver a miner.

Thanks for your very pertinent post, I'm please to answer what i can at present:

1. Yes, warranty is 2 years. If you look at the section about the chip, you'll see that our design spec is for maximum die temperature of
    75C. That should ensure the chips have a long lifetime.

2. Please see our earlier post about this. Our engineers have extensive experience in mil/aero systems design and in industrial control, to    
    name but a few. Problem is, you can never really trust what people say about themselves online, can you? We expect people to look at
    our whole proposal, not just one bit. It's not all about the chips, this is a carefully thought out and structured plan.

3. We have set a target on IGG to show what need to do the job properly. We are trying to source funds from other avenues to supplement
    this, including funds of our own. It won't come as any surprise to anyone that's read our plan that we have worked out several options if
    we don't reach our target. Before we did anything including drawing down the IGG funds - we don't get funds until after the campaign
     ends -  we'd go to our customers with these different plans and ask their approval to proceed. If they say no, then we don't take the
    money, simple as that.

4, We have targeted delivery for the end of December as you say. Naturally as engineers we have built in some padding in our timescales
    to allow for the inevitable problems that will appear. We will keep our contributors and other customer fully informed about what we
    are doing, good and bad, just as we did in our plan, but if there was going to be a substantial delay then we would give customers an
    option to cancel and get their full payments back.

If you would like any further information, please feel free to ask or email us directly.

Well,mining at home will be dead VERY soon.With power costing me .13 cents per kwh,I've already sold my 1 TH in Antminers.

I saw the end coming & sold my miners while I could get a decent amount for them,had I waited another month or so their cash value will have decreased by a significant amount.

Sooo,unless BTC hits $700-$1000+ & STAYS there,I personally don't see it staying at those prices for very long,NO miner is worth it at ANY price.

Even if it does,we already are knocking on the 100PH door & its early June,150 looks easy to hit by Sept & 200 by years end or shortly thereafter,so the diff is going kill any at home mining projects.

I wish you the best of luck & will be watching,but you may as well just make miners for datacenters,they will control network very soon............ 

Then come clean. Who the hell are you?

This is what a real company with real people looks like:

http://www.spondoolies-tech.com/pages/team

I dig around your post about VAT and Limited company.

Ok, so in UK to become VAT registered company you can call number and tada! DONE
To become Limited company is even less hassle than CIS card for simple simon from construction site.

Please let me know if you asics will look and work like your website? Because even steve wonder would create better site with wordpress and free templates singin https://www.youtube.com/watch?v=b2WzocbSd2w#t=8 once all finished.

Come on guys give us real proof this is not a joke.

+1 !!

Hi Novello - please let us know:
1) You state that your miners will be covered by 2y warranty YES/NO?
2) You state that your team have extensive exp. but fail to introduce key people in your team - I do not need CVs, but as all here said, what is your exp. in related fields - at least business & tech fields (any previous successful businesses /or relevant employers) ? Even significantly smaller projects on IGG care to introduce their teams shortly...
3) You go for 4 mil USD IGG campaign & said there, that you expect to need at least 1mil for chip R&D - yet you go for flexible funding option on IGG - which means you will take whatever money raised - what will you do, when you have not raised targeted 4 mil ? Will you close business ? Or do you have some risk management plan for this ? And what about your customers - will you refund them ? Whats the plan here ? Did not see it on your campaign page...
4) Last one - will you offer full refund, if you are not able to start delivery by late December ? Will you commit to this or offer any other compensation ? Again not a word about it in your post or on IGG campaign page. 

Thank you very much in advance for honest reply and good luck with your IGG campaign!

Nice generic names. So who are you, really? Facebook, LinkedIn, anything? Are you an EVP of Oracle? Are you a dead heavy metal drummer? Are you a basketball player?

Is it just me or the link is not online?
Tks.

While it all sounds interesting, and there is some technical info in there, alot of others have come before with info. The real onus is to provide technical depth to show us that this is the real deal. There are some very knowledgeable people on here who can validate any claims of performance.

Many of us have been burned by pre-orders....telling us you are another pre-order, even if its on indiegogo, needs significant validation to make traction. Inflated performance specs have also caused damage. We need to be sure we truly know what we are getting into and that requires honesty on your part if for some reason your product will not meet those performance targets....also what kind of experience do your engineers have? Spondoolies comes right out and says it....Intel, Motorola and a couple of others.

A champion thoroughbred always has his lineage as a validation of his champion status as that pedigree is what can ultimately (to some degree) determine fitness (in this case success), a parallel to race horses and dogs that applies to business in many cases. What people want to see is your previous track record of success. That will determine whether this venture could also be successful. Having a nice marketing friendly resume is not going to cut it. Solid tracks records of success is what matters. We want to

We need to see alot more than marketing speak and a different way of approaching the community. You want to deal in facts? Great so do we. Technical and non-technical facts. The corporate hunters on here are relentless and will pick apart your every word. Its what they do. Some will never be pleased until you have proven yourself. And that will require alot of effort on your part to make happen. It's frustrating to deal with the forum aspect as it is (for you) but going on cryptocoinsnews does not mean you have legitimacy. BFL has HUGE market mindshare and are still pulling the crap they are pulling. Quite a few other companies have been featured on news sites and well now they are on there for different reasons...

From what I read you have a sound business plan. And you obviously get people's frustrations with pre-orders. But you have ALOT to prove before people open their wallets to you. You will surely also have the paid shills who will attack you as they work for a competitor (which is happening)....but prove yourself past all that, and you will win. Low priced miners are a great thing...but until we see something, its all snake oil. Hopefully you appreciate this perspective.

Your conecpt looks interesting. It sounds like a competition to Spondoolies-Tech who are clearly leading
But i have a question, how do u mean 120 years experience ? Do u sum up the experience from the team ?

Another note to the Limited discussion:
You can buy a Limited within 24 Hours for 200-300€, and you dont need to leave your home.
At the Dark Market you can buy Limited Service where do you get your limited + fake id + fake documents for 1000-2000$.

I dont want to say that your are scamming, but a Limited is not much incredible


In conclusion i would suggest to look for a local investor who is able to check the processing.

Regards

It would be best for you if you've reviewed the posts from bitfury. It was his first ASIC and he went directly into full custom. See how he dealt with disbelievers. You can just read his English posts although his detractors were mostly posting in Russian and his responses were in Russian too.

Basically, we want to see that there is a real technical depth in your organization. What we don't want to see is another Cointerra, where the "dream team" was really part-timers that quickly disassociated themselves from the CEO and the only technical person left was some German guy on a temporary visa in the USA.

Your post, while quite good overall, essentially looks like a case study done by an MBA student.

Edit: You can also review Spondoolies-Tech posts. The forum account is mostly manned by a their CEO, who isn't afraid to admit that he doesn't understand some technical issues, but is always capable of delegating the Q/A to an appropriate person within his organization.

Edit2: some grammar fixes

Not sure I understand what 'fragmentary results' you would like to see?

Battery-operated low-power consumer electronics aren't really relevant to mining hardware which is high-power application that pushes itself to the edge of death: either thermal from overclocking or starvation from undervolting.
Good. Analog and mixed-signal design flow is the way to go. Now please get back with your engineers and post some results of your preliminary simulations. E.g. which version of BSIM did you use? You could post some fragmentary results without disclosing the entire design.

This board has enough people that will understand such posts. And disclosing some technical data (even incomplete) will be the quickest way to distinguish you from all the previous scammers who only had marketroids at the ready and literally nobody to back them up on the technical front.

Would you really hand over proprietary details even if I had provided a name? Giving out the asic design is not the only way to give us evidence. Words and graphs are meaningless especially from a company with no reputation.

http://cointerra.com/team/

http://www.butterflylabs.com/management/

http://www.spondoolies-tech.com/pages/team

Those are examples of real companies with real employees.  Your website is honestly a joke.

There is no way I can prove your specs are imaginary. But I don't have to. You are the one who has to prove it if you want anyone other than clueless noobs to fund this project.

Btw if your specs are half as good as you claim, you should have no problem selling the design alone for more than $10,000,000 to one of the already existent asic manufacturers.