Avalon accused of mining with customer ASICs - CoinDesk

They are real: The Bitcoin Foundation Opens Up Avalon’s First ASIC - bitcoinforum.com - The Unofficial Bitcoin Forum

submitted by bitcoinforum to Bitcoinforum [link] [comments]

bitcoinmagazine.com: Avalon Ships Bitcoin’s First Consumer ASICs - bitcoinforum.com - The Unofficial Bitcoin Forum

submitted by bitcoinforum to Bitcoinforum [link] [comments]

Avalon ASIC countdown clock hits -1 day - bitcoinforum.com - The Unofficial Bitcoin Forum

submitted by bitcoinforum to Bitcoinforum [link] [comments]

bitcoinmagazine.com: Working Avalon ASIC Confirmed, Hashing At 68 GH/s - bitcoinforum.com - The Unofficial Bitcoin Forum

submitted by bitcoinforum to Bitcoinforum [link] [comments]

White Paper, Miner, Pizza … | "Old Objects" in the Cryptocurrency Museum

White Paper, Miner, Pizza … |
Museum has played the role of a time recorder. Talking about bitcoin, more than ten years has passed since the creation of it. Although it is uncomparable to the stock market with a hundred years of history, during the ten years, in the different stages of the development of bitcoin and blockchain have continuously poured in geeks, miners, speculators, newbies, leaving keywords such as sudden rich, myth, scam, belief, revolution, etc.
There are also many “old objects” with stories in the “Museum” of the cryptocurrency realm. On Museum Day, let ’s review the stories brought by these “old objects”.
The First Digital Currency White Paper — Bitcoin White Paper
On Oct. 31, 2008, Satoshi Nakamoto released the Bitcoin white paper — A Peer-to-Peer Electronic Cash System in the cryptographic mail group where he belongs, and Bitcoin was born since then.
A white paper is a document that explains the purpose and technology used in cryptocurrency. Usually a cryptocurrency uses the white paper to help people understand what it provides, and it is also an important information channel for investors to understand a project. Therefore, the level of the white paper affects people’s confidence towards the coin.
In a word, in the cryptocurrency and blockchain industry, the value of a white paper is equivalent to that of a standard financing speech. The white paper plays a vital role in this emerging market.
The First Public Bitcoin-Physical Transaction — Pizza
Since Satoshi Nakamoto mined the Bitcoin genesis block on January 3, 2009, Bitcoin has only been spread among the small crowd and has not realized its value.
Not until May 22, 2010, Bitcoin enthusiast “Laszlo Hanyecz” bought a pizza coupon worth $25 with 10,000 bitcoins. This is the first public bitcoin-physical transaction. Bitcoin has its price with 0.3 cents per bitcoin.

This day has also become the famous “Bitcoin Pizza Day” in Bitcoin history. Bitcoin as the imagination of the financial system has more practical significance. The tenth anniversary is coming. How will you commemorate it? Will you buy a pizza?
The First Digital Asset Exchange — Bitcoinmarket.com
After the birth of Bitcoin, in addition to mining, the only way to get Bitcoin in the early days was to conduct transactions on forums or IRC (commonly known as Internet Relay Chat). However, this method involves both long transaction time and great security risk.
In March 2010, the first digital asset exchange — Bitcoinmarket.com launched. However, due to lack of liquidity and transaction depth, it disappeared soon after its establishment, but Bitcoinmarket.com opened the era of the operation of the cryptocurrency realm exchange 1.0.

On June 9, 2011, China’s first Bitcoin exchange — Bitcoin China (BTCChina) launched. Its founder, Yang Linke, translated Bitcoin into Chinese “比特币” for the first time. In 2013, China’s bitcoin trading entered the golden age, and exchanges sprung up. China monopolized more than 90% of the world’s bitcoin transactions. Now, if the top three exchanges Binance, Huobi Global, OKEx are the Exchange 2.0, then the index exchange represented by 58COIN called the 3.0 version, leading the trend.
The First Generation of High-Performance Miner — ASIC Miner
When Satoshi Nakamoto created Bitcoin, the only way to get it is to use computers (including home computers) to mine, mainly relying on the CPU to calculate. However, as the value of digital currencies such as Bitcoin has become higher and higher, mining has become an industry with the competition is getting fiercer, accompanied by increasing difficulty of mining. Therefore, hardware performance competition starts.
In July 2012, the genius Jiang Xinyu (Internet nickname is “Friedcat”) from the junior class of the University of Science and Technology declared at the forum that he could make ASIC miners (chips). As far as mining computing power is concerned, ASICs can be tens of thousands or more higher than the same-generation CPUs and GPUs.
At the beginning of 2013, Zhang Nanqian (Pumpkin Zhang), a suspended doctoral student from the Beijing University of Aeronautics and Astronautics, developed the ASIC miner and named it “Avalon”.

In June 2013, the Friedcat’s miner USB was finally released, and it maintained 20% of the computing power of the entire network.
At the end of 2013, Wu Jihan, used the tens of millions yuan earned from Friedcat through investment, worked together with Jenke group, to develop the Antminer S1. Since then, the miner manufacturer Bitmain began to enter the stage of history.
It is no exaggeration to say that Friedcat and Zhang Nangeng have opened the domestic “mining” era.
The Birthplace of China’s Bitcoin — Garage Coffee
It is not only the “old objects” that record history, but also a place that everyone in the cryptocurrency realm aspires to.
Guo Hongcai once said, “Without no The Garage Café, there will be no cryptocurrency realm today. Since it is a very mysterious place that all waves of people from the café joint together to create today’s digital asset industry.

▲ In March 2013, American student Jake Smith successfully purchased a cup of coffee at The Garage Café with 0.131 bitcoins. This move attracted the attention of CCTV, and it conducted an interview.
Indeed, The Garage Café is the world ’s first entrepreneurial-themed coffee shop. It has been legendary since its establishment in 2011. The Garage Cafét is not only the core coordinate on China’s Bitcoin map, but also the birthplace of the Chinese cryptocurrency circle, where digital asset realm tycoons including Guo Hongcai, Zhao Dong, Li Xiaolai, Li Lin have made their ways.
The development of digital currency is only 11 years old. Through these “old objects”, we review the various stories of this wave of technology together, hoping to help you understand the development process of the digital currency field. Meanwhile, I also remind all practitioners to use history as a mirror and forge ahead.
Website: https://www.58ex.com/
Twitter: https://twitter.com/58_coin
Facebook: https://www.facebook.com/coin.58COIN
Telegram: https://t.me/official58
Medium: https://medium.com/@58coin_blog/
submitted by 58CoinExchange to u/58CoinExchange [link] [comments]


This subreddit is not for making fun of others users.
Bitcoin mining is not easy. We were all newbies at one time or another.
Everybody who posted in this thread should be ashamed of themselves, and go back to give OP a real answer: http://www.reddit.com/BitcoinMining/comments/1dkkld/newbie_question_just_bought_some_avalon_asic_chips/
EDIT: Here is my response to Endlessa's comment seen here. I'm adding it to this OP as I think it helps depict the mods views on how we run this subreddit.
OK I understand that, but the reality is he should not be buying raw chips if he doesn't know what to do with it..... he went face first into something stupid and wants intelligent people to save him.... this is a forum for new people to share experience not for stupid people to supplement their ignorance
Then explain that to him and don't be a dick about it. (Not saying you were a dick about anything.)
This is a business oriented subreddit. A lot of people who come here have or are about to spend a lot of money (in their eyes) on new hardware. The last thing they are looking for is to be laughed at for their incompetence.
There are no stupid questions on /BitcoinMining as far as the moderating team are concerned.
If you guys don't want to answer the questions properly in an adult fashion then don't. Somebody else will.
Leave the subreddit if you don't like these terms. Who's stopping you? But if you'll think about it, these terms are probably the reason you began coming here in the first place.
submitted by GigaByteCoin to BitcoinMining [link] [comments]

4 Bitcoin-Newbies: What I have learned about BTC in 4 months

Hi guys,
I was introduced to Bitcoins last September. I didn't know anything about that and I started studying more about that.
I also found this forum and learned A LOT from you guys, so, to thank you all and to give back, I thought about doing a small summary of what I have learned so maybe new guys can find this helpful.
I will post a lot of links from outside and to my own posts, so people with the same doubts that I had can look for the answers that I got there and maybe that may answer their question too.
I learned: In September 2012, the very first thing I learned was from this video (like many of us) :
http://youtu.be/Um63OQz3bjo and this website: http://www.weusecoins.com
My friend introduced me to my first wallet and my first pool: http://bitcoin.org/ and http://bitminter.com/
I still didn't know what I was doing.
This amazing post resolve 99% of your doubts: https://bitcointalk.org/index.php?topic=9430.0
At the end September I found out that mining as we know it (or as I just knew) was about to end thanks to the ASIC machines. I didn't know what mining was and less idea of what ASIC was. So I started reading about that and I find many companies like Butterfly Labs, Avalon and BTCFPGA (http://bitcoinmagazine.com/tag/asic/)
I learned how awesome this forum is, willing to help a new guy like me
I was still learning how to mine, so I asked in this forum about that (https://bitcointalk.org/index.php?topic=114723.msg1236829#msg1236829) and they told me about pools, mining and I ended upgrading my graphic card (you can compare the speed of mining here: https://en.bitcoin.it/wiki/Mining_hardware_comparison and you can calculate how many bitcoins here: http://tpbitcalc.appspot.com/)
I found out all the pools out there (https://bitcointalk.org/index.php?topic=104664.0)
In October I was looking for rigs to mine (https://bitcointalk.org/index.php?topic=114823.msg1238027#msg1238027) because I found this video: http://youtu.be/eLt8Se3vVNg
Then I didn't understand why pay fees when mining, but this forum was even greater than what I thought https://bitcointalk.org/index.php?topic=115260.msg1242456#msg1242456
So once I learned about mining, I download GUIminer and I started mining in 3 pools at the same time (https://bitcointalk.org/?topic=3878.0)
After 40 days I mined my first bitcoin YAY! now, I wanted to know what I can do with that and I found places to buy with bitcoins like www.bitmit.net
I wanted to control my mining from my cellphone and I found Bitcare very useful (https://play.google.com/store/apps/details?id=org.cryptcoins.btcare&hl=en), and also Bitcoin Wallet to have a new wallet in your phone (https://play.google.com/store/apps/details?id=de.schildbach.wallet&feature=search_result#?t=W251bGwsMSwyLDEsImRlLnNjaGlsZGJhY2gud2FsbGV0Il0).
I wanted to buy more bitcoins, didn't know where. Dwolla https://www.dwolla.com/ and Mt.Gox https://mtgox.com/ were there for me. I found out that Dwolla is a pain in the ass. I had to wait 3 weeks to verify me and 3-5 days every time to make a deposit. But besides that, it works...althought I found this today: http://codinginmysleep.com/dwolla-begins-suspensions/
People who likes bitcoins don't usually likes PayPal
I also found places where they give bitcoins away...for free! http://makebitcoinsfast.com/ and http://earnbitcoin.wikidot.com/
I was new and happy until I found what a block is and how it dropped from 50BTC to 25BTC https://en.bitcoin.it/wiki/Blocks and http://blockchain.info/
You can know when the new block will happen: http://bitcoinclock.com/
More companies started to use bitcoins like WordPress (http://www.forbes.com/sites/jonmatonis/2012/11/16/whats-your-bitcoin-strategy-wordpress-now-accepts-bitcoin-across-the-planet/). You can even buy a house with btc! http://bitcoinmagazine.com/where-to-spend-your-bitcoins/
Cool sites that I still don't understand like: http://cognitivemining.com/ or http://bitcoinstatus.rowit.co.uk/
The biggest wallet so far had more than 613,000 BTC and its own site (http://1dkybekt5s2gdtv7aqw6rqepavnsryhoym.com/)
You can watch how bitcoins are going higher or lower in sites like here: http://bitcoinwatch.com/ and http://bitcoin.clarkmoody.com/
That a guru of Gold and Silver, is accepting Bitcoins in his web: http://mogamboguru.blogspot.com/
They have more names than just bitcoins... Sub-units of a bitcoin such asmillibitcoins ("Millies") or microbitcoins ("Mikes"). The Bitcoin protocol uses a base unit of one hundred-millionth of a Bitcoin ("a Satoshi")
What 2013 has in store for bitcoins: http://bitcoinmagazine.com/the-next-year-in-bitcoin-what-2013-has-in-store/
Some companies are afraid of bitcoins like apple and why: www.forbes.com/sites/jonmatonis/2012/06/13/why-apple-is-afraid-of-bitcoin/
You can help others by crowd founding with btcs: https://bitcointalk.org/index.php?topic=118458.0
You can bet anything: http://betsofbitco.in/ or http://bitbet.us/
And also short cut your wallet: http://payb.tc/
Hitler sells alls bitcoins: http://youtu.be/alc0gG0u48M
That if the bitcoin drops to $4 (it was my dream )... 82% of the people would buy all the btc they could https://bitcointalk.org/index.php?topic=137249.0
Casinos will make money....ALWAYS, any currency, any country: www.forbes.com/sites/jonmatonis/2013/01/22/bitcoin-casinos-release-2012-earnings/
There is wikipedia about bitcoins (http://en.wikipedia.org/wiki/Bitcoin) and there is a wikipedia only of bitcoins: (https://en.bitcoin.it/wiki/Main_Page)
Blogs keep growing to understand better about bitcoins: http://www.thebitcointrader.com/
I learned the hard way that if you have several wallets in your Bitcoin Wallet in your phone, it can crash and lose money. Be careful. https://bitcointalk.org/index.php?topic=137785.msg1468748#msg1468748
You can have multiples wallets in your computer thanks to: https://multibit.org/
I thought a fork was for eating, but there are more https://bitcointalk.org/index.php?topic=136802.msg1457287#msg1457287
There is no flaws in bitcoins: https://bitcointalk.org/index.php?topic=136740.msg1456910#msg1456910
Also, if you sign your account of the forum with your wallet, your nickname would be attached to it, always: https://bitcointalk.org/index.php?topic=137667.msg1467500#msg1467500
You must create a SECURE wallet: https://bitcointalk.org/index.php?topic=17240.0
And that's it so far. I'm still learning but I can see how much I have learned in just 4 months. I got my wallets secured, with many bitcoins and waiting for an asic.
I hope this post can help anybody.
Thank you guys!
All the best.
submitted by saidee to Bitcoin [link] [comments]

Reverse engineering of Avalon ASIC chip. Work in progress

Howdy Bitcoin community,
I am an individual located in Europe, who owns several Avalon first batch devices.
I'm well versed in the field of electronics and integrated circuit design/analysis.
Currently I'm in the process of contacting http://chipworks.com to get an approximate price for the task of fully reverse engineer the inner integrated circuits of Avalon ASIC chip, in order to replicate it.
Here's a picture of the board i intend to send to chipworks http://imgur.com/lsO5Mru.
I'm just in the initial phase of preparing communication with them thus i don't have yet extimations as for the size of the investment.
After reverse engineering is done and set of photomasks are extracted, a batch of test chips will be commissioned to a fab foundry, along with the photomasks . When test chips are delivered tests with will be conducted for several PCB board designs, based on the opensource specifications released by Avalon.
I have a substantial amount of funds to invest myself but i'm looking for partnerships to find suitable business partners and build a serious business out of this.
The final goal is to mass produce an Avalon chip clone for private use and bring up blade-like devices to the final tune of several hundred Terahashes, a longer term goal is to further apply features miniaturization and design optimizations, to bring up performances, and lower power draw to the current ASIC design.
Is there interest in this, or am i the only crazy thinker who wants to go through this steps ?
Cheers! and thanks in advance for your responses!
Thanks for your awesome responses!
Of course, since i mentioned i'm seeking for partnerships, i feel i need to add that all formal agreement about shares distributions shall be previously discussed, and accepted by the board of eventual investors .
Of course, if there are any interested investors, there would be a proper escrow setup for funds collection, perhaps with a trusted forum member who will handle, for a fee, deposits from investors in FIAT/BTC, exchange BTC for FIAT when its needed to pay suppliers, and also handle suppliers payment under escrow. Full financial statements would be released reliably, making this a fully transparent venture.
By the way right now, as its clear from my original post, i'm now seeking people with solid skills to build a team, not really focusing on investors right now. But i would appreciate some "chime-in".
submitted by whyasic to Bitcoin [link] [comments]

Frequently Asked Question: What's an ASIC, FPGA?

So you're sick of just mining on your GPU, and not a fan of the electric bill after a month of mining? There has to be a better option out there than your loud GPU in your gaming computer. There is!
Shortly after GPUs became popular for bitcoin mining, enterprising folks started looking at other things they can re-purpose to mine bitcoins more efficiently. Around mid-year 2011, the first devices sprang up that are called FPGAs or Field Programmable Gate Arrays. These are nothing new to the hobbyist community, they've been around for a while for crackers and other security-conscious folks looking at ways to defeat cryptographic locks. Hey! I know something that uses cryptographic calculations to secure its network! BITCOINS! Yep, so some miners developed their own boards and slapped some FPGA chips on them (most commonly the Spartan-6), and wrote specific firmware and "bitstreams" to more efficiently calculate bitcoin hashes. The first generations were sort of slow, but still they had better efficiency than a GPU. Some of the latest generation included the Icarus boards, Cairnsmore, x6500, and ModMiner Quad.
In early 2012(i think my timeline is right), Butterfly Labs(BFL) was selling their own FPGA miner that hashed at 800 Mhash/s using 80 watts and only cost US$600 amazing! These grew very popular, but people could see that FPGAs still weren't the most efficient way to hash their shares. BFL then announced that they would be designing their own chips that would be orders of magnitude faster than anything ever seen. These would be the ASICs (or Application Specific Integrated Circuit)everyone is raving about. ASICs are--as the name implies--specifically designed for one thing, and one thing only. Bitcoins. This is all it can do, and can't really be repurposed like an FPGA to other applications. Who wouldn't want a US$150 "Jalapeno" that hashes at 3.5 GIGAhashes/s using only power from a USB port?? Crazy! So summer 2012, BFL says they will ship before Christmas. Various things happen and we now still don't have any confirmed ship dates from BFL.
A few other companies have sprouted up, ASICminer which I believe is developing their own chips to mine themselves, but in a responsible way as to not threaten the network with a sudden influx of hashing. bASIC was a fiasco that was developed by the creator of the ModMiner Quad(which is actually a fantastic miner, I own one, and love it.) where he took many preorders, promised lots of people amazing ASIC performance, but in early 2013 the stress of the whole endeavour got to him and he gave up, refunded money(I think it's still being refunded now, or maybe it's been cleared up already.)
Avalon is the only company we know has ASIC mining hardware in the wild. It is not certain exactly how many are out there, but they have been confirmed by independent sources. The Avalon units are expensive(75 BTC) and have been in limited production runs (or batches) of a few hundred units that were pre-sold out very quickly.
All of this info is gleaned from the Custom Hardware forum over at bitcointalk.org over the past year or so I've been involved in bitcoin. I may have some facts wrong, but this is the gist of the situation and hopefully gives you an insight on the state of the hardware war against bitcoin
Thanks for reading!
submitted by purelithium to BitcoinMining [link] [comments]

BFL Labs - What I know so far

Hey guys,
Not sure if you are aware, but Josh from BFL labs has advised units to begin shipping end of april. (Hopefully)
There have been further annoucements and talk in the shoutbox regarding this.. information seems to be all over the place. so this is what I know so far:
18/04/13: At this stage they are in the final stage of testing and fine tuning the power consumption ( predictions showed it to be in the range of 1GH/J but its now looking closer to 170MH/J ) This will also likely improve over time but is still miles ahead of Avalon and GPU miners.
Minirig is no longer available for purchase as they cannot fit it in the case that it was intended for so after the Single SC is finished they will look into the minirig again, But the minirig is composed of Single SC's that are running on a higher clock due to more optimised cooling.
The chips are FINE. The delay is re-engeneering the power system on the boards to handle to extra consumption.
IMHO I think they will start the shipping process on end of april, They will start with the Jalapeno's and work their way up. Still no ETA for minirig though..
You may have heard about the tour on reddit http://www.reddit.com/Bitcoin/comments/1c3hyc/toured_butterflylabs_a_few_hours_ago/
This was confirmed by Josh but he also made a valid point, "Why would we pay staff to stand around watching" Once the shipping process begins they expect to ship 400 units per day. I would say the first week would be 200 units per day average while they sort out all the kinks. But I have high hopes.
UPDATE: Photos of Mini-Rig: http://imgur.com/a/Uanjr#0 Please note these may be an older model, But give you a better idea of how a slightly larger PCB will affect the production..
If you have ordered from BFL Labs, Please fill in your details here so we can publicly track how many have been delivered etc.
UPDATE 2: Found this on BFL website.
BFL will make 400 units/day. 2,000 units/week. 8,000 units/month. That means: ->4 months = 32,000 units ->5 months = 40,000 units ->6 months = 48,000 units
UPDATE 3: There are many photos and some misc information on BFL and the ASIC miners below. Forum registration is required for some photos. https://forums.butterflylabs.com/bfl-forum-miscellaneous/1099-orders-shipping-pictures-facility-when-my-stuff-here-why-delays-shipping.html
UPDATE 4 (2/5): There is a BFL update email going out now, so check your inbox. Also, Josh has been posting stuff in the last 12 hours, so I'll be sending out some quotes shortly.
BFL_Josh on order confirmation: I'd wait awhile before trying. It's not like we're going to cancle your order today. You got 10 days or so... BFL_Josh - Yeah Product server is dying.
We are doing this so that we can be sure everyone understands that the power usage is more than we planned. We don't want to get into a situation where we ship something out that someone isn't expecting.
BFL_Josh - Product server is overloaded. Wait awhile to confirm your orders. No orders are in imminent danger of being refunded without approval. Clicking accept does not change your place in the order queue.
BFL_Sabina - When the website is back up, please log in to the website and proceed with the confirmation process there. Confirmation by email is not accepted.
If you check the products page you will see the Single SC is much larger than originally intended and this confirms what I was saying earlier about the larger PCB. Will update when I hear further.. I would say they are staggering the emails as their website is overloaded and I don't have an email personally yet.. however this is all in the last 2 hours.. so we shall just have to wait and see...
Check back here for more updates. I will update as soon as it is available. Find the information helpfull? Tips are appreciated :)
submitted by Pyr0AWLB to Bitcoin [link] [comments]

Asset discussion 25/6: BASIC-Mining

Sorry about the late post, was busy.
This will be a once every 2 day stock discussion so every stock will be discussed.
Topics to be discussed includes but not limited to:
Today's discussion is BASIC-MINING which is traded on those exchanges below by order of volume:
BitcoinTalk Forum Thread
Business Model
bASIC-MINING was created to pool resources and to provide investors with an easily accessible path to ASIC mining hardware without a large upfront expenditure. This is not a mining bond with a fixed hashrate that offers a perpetually lower yield over time as difficulty increases. This is instead an opportunity to own a share of ASIC hardware, to have a voice in how that hardware is utilized, and to share in the rewards this hardware provides. 70% of all revenue generated by bASIC-MINING will be distributed to shareholders on a daily basis. To ensure that bASIC-MINING can continue to grow and remain competitive as the BTC network grows, 30% of mining revenue will be held in reserve to purchase new hardware.
bASIC-MINING was supposed to utilize bASIC ASICs but that operation folded so they are now utilizing other ASICSs.
Based on the performance on BTC-TC, the performance are as follows:
Dividend Yield Estimates (calculated using 2.78236/Share)
Based On Paid Est Annual % Est Annual BTC
30d 0.00434931 5.44% 0.05291660
90d 0.00823619 3.44% 0.03340232
190d 0.02276944 4.5% 0.04374127
Latest News
Recently received their Avalon Batch 2 ASICs. Share prices jumped froom 0.5 to 1.5BTC. Question: Is this share overpriced?
Future Plans
I am not too sure what are the exact future plans. If anyone can fill me in, I will edit this component.
submitted by Coz131 to BitcoinStocks [link] [comments]

Want to invest in bitcoin but willing to accept more risk for more return? Maybe investing would be right for you!

As we all know, companies such as AsicMiner are currently kicking butt with their asics by releasing the eruptor blades and Erupter USB sticks for mining. This combined with their 28% or so of total hashing power for the entire bitcoin network is resulting in fantastic growth over the past few months, and their dividends are doing quite well.
If you are interested in shares of AsicMiner , check out either Direct Shares or Pass Through shares, which is just one share of AsicMiner. You can find them in auctions on bitcointalk as well as sites such as BTCT.TO
You can also get smaller shares known as micro shares. There are often times 1/100th of a full share so people can easier purchase them and provide an easier method for reinvesting dividends.
There are other shares too, such as AMC which just recieved a few Avalons they purchased a while ago. Keep in mind that the owners relations with others on the forum is quite poor and very unprofessional, so I would still consider it rather risky.
There are also companies which are not based on bitcoin but experimenting with it as a source of capital, such as KenilWorth on bitfunder, who are a mining company which finds raw material deposits and then sells them to another company (I think). The people with that company are VERY responsive on bitcointalk and seem to be very professional.
You can even if you wish bet on funds which are reliant upon BFL's shipping, such as HaveLock's Investments Mining Fund. The owner of that fund is also rather response on bitcointalk and is a very down to earth person from what I have seen. For example, they just purchased a single Jupiter rig from KnCMiner in an effort to diversify so if BFL fails they will not be destroyed.
They are also other funds out there which are designed to represent an amount of Mhash/s per each share, for example RedStarMining which aims to have 180 Ghash/s eventually, with each share containing 2.818 Mhash/s.
Also, a very cool thing about these funds is that they are very present on bitcointalk in the securities section, so you can see up to date discussion about each fund. For example, for red star mining, here is their thread: https://bitcointalk.org/index.php?topic=63257.0
You can even get a fund in an exchange, such as Crypto-Trade! Though, they seem to be having some major issues with their site for a while now, which is unfortuntate.
And you can get shares in the gambling site satoshidice!
There are tons of such securities available for lots of different styles people could choose, and because of bitcoin buying these shares is a very painless process. But do keep in mind that this is riskier than just holding bitcoin, and there are a good bit of scams prevalent in such securities, but if you keep an eye out and read their associated threads on bitcointalk you will be for the most part safe. Also, investing in companies like AsicMiner increases the network hash rate, making it even harder for a single entity to barge in and get more than 50% of the network hash rate, resulting in an even more secure network! These sometimes even hare shares which cost less than five dollars, so to get started you don't need much BTC at all.
And here is the link to bitcointalk for anyone who wants to do more research and look at any other funds which might be of interest. Don't forget that there are some funds which are not exchanged on these sites, for example group buys where each buyer holds a certain percentage of proceeds from a very expensive miner they pool together to buy. As earlier though, be careful.
There is also a really good subreddit for discussing these securities as well as others on /BitcoinStocks !
Edit: Added in bitcointalk threads for each security I listed.
Edit: It seems that there are nearly half as many downvotes as there are upvotes. Can anyone clarify?
submitted by hak8or to Bitcoin [link] [comments]

Hypothetical: What happens if Avalon's chips all stopped working at once?

Apparently the Avalon ASIC company has recently sold over 500,000 individual 282MH/s chips ready to be fabricated into various miners. They just sold two more batches of 10,000 chips today.
That's 141 Tera Hashes of mining power, or about 3 times the power of the entire Bitcoin network at the moment. Woohoo! Security for all!
Now imagine this scenario...
We're all chugging along mining bitcoins on our sweet new home-built ASICs. We quadruple the current difficulty. The network is more secure than ever and we couldn't be happier.
Right then, somebody notices a chink in the armor.
"[email protected]#! My DIY Avalon Board Isn't Responding!!!!!" reads the bitcointalk forum post.
By nightfall, there are hundreds of similarly worded posts.
Nobody knows what the problem is, and nobody will until a few more days of investigation.
All we know is that blocks are taking longer and longer to mine, the value of Bitcoin is plummeting, and that we shouldn't have placed all of our eggs in one basket.
submitted by bitchan to Bitcoin [link] [comments]

ActiveMiner, the crowdsourced restructuring of AMC(mining) and VMC(sales) just paid 0.00001830/share

Disclosure: I'm invested in ActiveMining... However, I consider myself a straight shooter, and am willing to field any questions people may have on this security. The day I purchased BTC was the day that I considered that money destroyed.
Picture of VMC Headquarters
Bitcointalk Forum Link
BitFunder Price Link
BTC-TC Price Link
It's been a rough start, but I think that ActiveMining is on the right track now. Below is a list of things I have put together about what has been happening:
Previously, investing in ActiveMining - rather AMC beforehand, would have been seen as too high of a risk for most. Right now... I'll let you make that decision. I'll start by giving you a pretty thorough rundown of what the hell has been going on the past year.
A little about Kenneth Slaughter (CEO Owner):
He's been into Bitcoin since 2009 and has had a BTCTalk account since 2010. He decided to look back into bitcoin in early 2012 and saw that the price was $6.50. He then started putting resources from a contract IT Job into GPU mining equipment. He then took most of the bitcoins he mined in 2012-2013 and purchased 6 Batch 2 Avalon's in February 2013. Needing to pay back to the first investors, he released a small dividend under AMC from profits on G.ASICMINER-PT dividends and the sales of G.ASICMINER-PT shares. This is where the idea of VMC began. He reasoned that you could not count on other manufactures to deliver their products on time or to even continue producing their product. i.e. BFL, Avalon. So VMC was created to provide AMC with a stable supply of bitcoin mining machines.
The contract was originally written something like this:
crash, bang, boom
Ken is an engineer and private businessman. In my opinion he had no experience with the dealings of managing a public company or being an underwriter. Having talked with Ken, I could say that he really wanted to get this company off the ground, but he made a few mistakes:
After the price of AMC surged from .0005 then to .0008, back down to .0005, then back up to .0008 then to .0014, then to .004, then back to .0025, Ken valuated the company at a higher value than .0025 but decided that it was reasonable to place a second offering of 4 million shares at .0025 to pay for an NRE for AMC's own chip. 1 million shares were purchased, then things started falling apart, mostly, the unfair way the contract was written. Many believed that the contract was screwing the investor out of money by not giving more profits from sales (10% at the time) since investors fronted most of the money. There are more details and grievances left out but this is getting long. I can answer questions about that if you'd like.
So, what happened?
Ken got together with forum members and worked out a new contract:
So, what plans does ActiveMining have and why is there 4 million shares for sale at .0025 on both exchanges?
All in all, I think is has been a learning experience for Ken. Everyone seems appeased at the moment, good things are happening, and I hope this answers some of your questions. If you have any more, let me know and I'll try my best.
submitted by lewicki to Bitcoin [link] [comments]

win up to 10x ASIC from bitcoinasic.net - raffle idea

Hi everyone on here, i would like to start with a little presentation over myself. I'm a "so called" large investor in the Bitcoin world and i have a multiple set of orders from all suppliers that are currently public in the market : BFL, BTCFPGA and AVALON. All the orders are set to ship in the very first batch for each one of the suppliers mentioned above. This means NovembeDecember planned shipment for BTCFPGA. Since i have over 50 units pre-ordered and i want to hedge a little more, i've decided to create a raffle as an experiment. The raffle will work like this : there will be two ticket sizes, the small one giving you the chance to win 1 ASIC 54 Ghash/sec from BTCFPGA and costing 3.5 btc, the bigger one giving you the chance to win 10 ASIC 54 Ghash/sec, for a total power of 0,540 Terahash/sec and costing 30.5 btc. Total tickets emitted will be 3000 with 1000 going to the small ticket size and the rest going to the bigger ticket size. Now that the economics are debunked, i would like to ensure you that all measures will be taken for ensuring consumer trust is not betrayed, in short this is totally not a scam for the reasons outlined hereafter : 1) I'm open to offers from high reputation members for escrowing both the Bitcoin and the total of 11 ASICs. Indeed i have proofs about my order which i'm putting up for this raffle thing, the seller will confirm the order existence 2) once we settled down with some reputable guy, the shipping address will be changed to match his. 3) Funds on escrow would be released to me only when the ASIC are received by the winner of the raffle. 4) Winning tickets will be selected with a procedure like the one mentioned on the bitcointalk forum about ASIC raffle, in the gambling subsection or some thing like bitzino uses. To cut it down, it will be a verifiable solution.
What do you guys think ? opinions? would you like to have this new gambling opportunity? UPDATE If you guys mind please give some actual feedback, thank you!
submitted by throwwaway717 to Bitcoin [link] [comments]

Group Buy Europe [Nederland] - Avalon chips

Here another European order from: https://bitcointalk.org/index.php?topic=188768.0
Group Buy Europe [Nederland] Today at 02:01:27 AM #1 Group Buy Europe [Nederland]
updated: 27th of April
I. Group Buy Information
We will order 1 batch (10,000) chips from Avalon at a cost of 780 BTC
Product description:
the only payment accepted is Bitcoin. the chips being sold are packaged and tested. the lead time on the chips is 9 to 10 weeks. made to order from TSMC foundry and then packaged and shipped. the minimum order quantity is 10,000 chips and the maximum order quantity is 200,000. the chips are identical to those in Avalon, clocking 282Mh/s per chip. the password is “I understand and agree”. communication protocol, reference board design provided in early May. everything will be open source from FPGA to PCB design. we do not offer technical support of any kind, this is final. if you do not know what to do with the packaged chips, please do not purchase.
II. Why another group buy ?
zefir and ragingazn628 offer a great deal, but I am convinced it will take them some time to ship all their orders, besides this I think burnin and new-asics well be very busy with assembling ASICS. Thus alternatives and decentralization would be very useful to many miners.
III. Price
10,000 chips (excl. shipping) cost 780 BTC => 1 chips = 0.078 BTC
As I am going to import as a private person I assume import tax to the Netherlands will be 21 % (I know it sucks).
21 % of 780 BTC = 163.8 BTC
Total Costs: 943.8 BTC
To make it easier and to pay for my effort and expenses I will charge 0.1 BTC per chip. (0.09438 chip costs + import taxes, 0.00562 fee)
Avalon chips 780 BTC 21 % tax 163.8 BTC Fee: 56.2 BTC Total: 1000 BTC
IV. Shipping
You will have two options, you can personally pick up your order in the following locations:
Brussels Amsterdam (evtl. I will add another city, if there is a demand)
or we will organize shipping via DHL, UPS (you will have to pay shipping fee)
V. Please post following information in this thread:
N Number of chips B Bitcoins transfered Bitcoin address Forum nickname
Example: 200, 20,3594ter9ffwejiergij31sdsfd, MasterBoy89
Please only send your Bitcoins with a wallet you control !
You rather can send your BTC directly to this address: 1L79nCEzcPRFFKTk59QBRfgWDvgg75hDwr
but if you're more comfortable we also can use escrow.
VI. Trust
Why should you trust me ? I don't know, but if you want to meet me I will be at the Bitcoin meeting in Driebergen on May 3rd, where we can discuss and you can ask me nearly any question.
VII. Assembly
I guess burnin/Neo-asics will be very busy thus the plan would be to build our own community assembler team. Preferably located in the BeNeLux. Anyone interest in taking the lead ?
submitted by Bibo7 to Bitcoin [link] [comments]

Обзор рынка asic-оборудования от 20.04.19 Доходность и окупаемость asic miner ASICMiner Block Erupter USB is it worth it to buy an used bitcoin miner or any other crypto miner Top Best ASIC Devices for Bitcoin Mining -- Latest Mining Devices BitCoin Mining Hardware Buyer's Guide ft. Riggit Mining Frame

Here is a review of the Avalon ASIC miner. Photos and video Prior posts included photos. No video was taken. And the machine is performing its intended function -- receiving bitcoins to validate data -- so it will not be ripped apart for further pictures (however I want to see that, just as much as you). It is expected that upcoming press events and other third parties will provide this. Avalon’s ASIC customers offered bitcoin refunds due to delivery delays Emily Spaven Sep 2, 2013 Avalon ASIC has retracted its no-refunds policy after announcing delayed delivery of its chips. Avalon, a maker of bitcoin ASICs, has been accused, on the Bitcoin Forum, of using its products to mine bitcoins before shipping to customers.The controversy came to light after a customer of the ... limit my search to r/Bitcoin. use the following search parameters to narrow your results: subreddit:subreddit find submissions in "subreddit" author:username find submissions by "username" site:example.com find submissions from "example.com" url:text search for "text" in url selftext:text search for "text" in self post contents self:yes (or self:no) include (or exclude) self posts nsfw:yes (or ... [Announcement] Avalon ASIC Ships Oh you guys, I think everyone is at a boiling point because of the delays made by our competitors. We shipped, website will be updated shortly. First unit goes to Jeff Garzik in honor for the work he has done for the bitcoin codebase being the only developer who ordered from us.

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Обзор рынка asic-оборудования от 20.04.19 Доходность и окупаемость asic miner

Avalon, an offshoot of China-based firm Canaan Creative, was amongst the first firms to manufacture Bitcoin-specific ASIC chips, so it's safe to say that the company knows what it’s doing when ... No enough money to buy a brand new one? here I teach you what to look for when you are looking for a miner machine Do you want to buy a course? Exams, videos... The answer from linus tech tips forum http://bit.ly/2BBYdf5 Burst Mining Rig Build And Equipment: Lacie porsche design 8tb usb 3.0 desktop 3.5 inch extern HD... Canaan Avalon 1041 Canaan Avalon 1041F Innosilicon G32-mini Innosilicon G32-500 Innosilicon G32-1800 StrongU U1++ StrongU U6 StrongU U8 MasterSatoshi - ASIC оборудование из ... Bought this with bitcoins, not USD. DONATE HERE if you like this video. More links below. 1Pq7kyXbYPEYzG1rUShp1NyEoJNXUSk84N Forum link here: https://bitcoin...