selling shovels and pick-axes to miners was always much more lucrative than being a prospector - plus ca change
Well, there were surely a few prospectors who made out like bandits- but on the whole, yes.
Bitcoin ASIC Miner from BFL, finally
21–30 of 104 posts
Re: Bitcoin ASIC Miner from BFL, finally
#22The heat is of course a byproduct of the higher wattage, but I wonder what on earth happened to make them miss the wattage target by 6-7x?
Re: Bitcoin ASIC Miner from BFL, finally
#23I'm sure with enough digging around I could find this out for myself, but could someone familiar with things comment on how the performance of these boxes compares to a standard ATI card miner?
Re: Bitcoin ASIC Miner from BFL, finally
#24I'm sure with enough digging around I could find this out for myself, but could someone familiar with things comment on how the performance of these boxes compares to a standard ATI card miner?
High-end ATI cards will do https://en.bitcoin.it/wiki/Mining_hardware_comparison
Re: Bitcoin ASIC Miner from BFL, finally
#25I work this out to be about 180 Mhash/J, which is 80-100x more energy efficient than any GPU mining.
Also, for anyone wondering: At current difficulty and rate of exchange this will cost you <$0.10 a day to run and generate $40 of Bitcoin.
Re: Bitcoin ASIC Miner from BFL, finally
#26I'm sure with enough digging around I could find this out for myself, but could someone familiar with things comment on how the performance of these boxes compares to a standard ATI card miner?
The more important specification is the MHash / Joule (also found in the link below). The video says this thing does 5 GHash/s @ 30W. That's 100x the efficiency of the best videocards (1000x if you count the power consumption of the rest of the PC).
Re: Bitcoin ASIC Miner from BFL, finally
#27Earlier quoted context omitted.
This seems like it would be begging for a class-action lawsuit. That said, I've half-joked that probability of receiving my miner is probably about 0.98^(USDBTC).
How can one litigate against an entity beyond the jurisdiction of the US court system, e.g. say the rig manufacturer was the crook and not in the United States? What are the options there?
The options are to sue them in their foreign country or sue them in the United States. If you sue them in the US, you face jurisdictional issues (do they have sufficient contacts in the US to make a lawsuit here fair?) as well as judgment recognition issues (you would probably have to attach the damage award to a contract they have with someone in the US to collect if the foreign country court system doesn't recognize the US judgment).
Re: Bitcoin ASIC Miner from BFL, finally
#28I doubted that these ASIC rigs would ship any time soon. Wouldn't it be more profitable for the vendors to simply to delay/cancel orders and run the rigs 24/7 themselves?
I'm sure the same thing was said during the gold rush days and it was the store owners that sold prospecting equipment that made some very stable money.
Re: Bitcoin ASIC Miner from BFL, finally
#29I doubted that these ASIC rigs would ship any time soon. Wouldn't it be more profitable for the vendors to simply to delay/cancel orders and run the rigs 24/7 themselves?
I'm sure the same thing was said during the gold rush days and it was the store owners that sold prospecting equipment that made some very stable money.
Those store owners couldn't use a thousand pickaxes simultaneously.
Re: Bitcoin ASIC Miner from BFL, finally
#30Earlier quoted context omitted.
I see it as a futures contract on the value of the BTC. Selling a mining ASIC locks in profit for the seller, betting that this will exceed the time-value generated from the rig itself. Buying a rig locks in a loss, betting that it will pay for itself. We can't be certain whether the BTC will be at US$1,000 or US$1 a year from now. You could make a case for either side, that's why the contract exists.
Which, by the way, doesn't mean they are betting against BTC. They just elected to take sure profit up front, over less certain profit of potentially greater value long-term.
I don't think so. They probably needed the preorder money to fully develop the device and to be able to manufacture it.