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but in spite of the silly speculative doom and gloom that has swept over this thread, there still might be reason for optimism among those with outstanding Neptune orders.
Silly speculative doom and gloom? I normally respect what you have to offer on these forums but I find this comment slightly insulting. The lack of information from KNC is the root cause of all the "silly speculation" and now that we're finally getting more information the doom and gloom is quite justified IMO.
I'm trying to understand why anybody would still be holding onto a Neptune pre-order instead of refunding to simply buy more BTC than their Neptune could ever hope to mine.
To be clear, I am definitely not the beloved KnC Orama.
It was never meant to be insulting to anyone (though those that have completely written off any chance of a profit might find it insulting) What has been insulting is the last 2 months of this thread where it's become so incomprehensible that anyone would be keeping a preordered Neptune as if they haven't run any figures or are simply relying on others to tell them what to do.
To give a very quick and rough example:
-Let's say the first Neptunes are delivered in May
-Difficulty is now at 10 billion (~65% increase per month between now and then)
-Neptunes run at 4.5Th -completely reasonable based upon the information we have from the tapeout announcement
-Once the miner is received, difficulty increases 1.5 billion each week (meaning a mining farm approximately the size of KnC's datorhall comes online every week)
-A Neptune will return ~12 BTC over the course of 3 months
-Now, let's just add a correcting 10 billion increase at the end of those 3 months to make difficulty ~30 billion in September and adjust to 2 billion increases each week
-That same 4.5Th machine will now return an additional ~5 BTC over the following 3 months
For me, that would be a 7 BTC profit. (power costs not included)
There's also risk assumed in a 10 day window between the initial request for a refund and the opportunity to buy BTC. Some might even find some level of altruistic value to the Bitcoin community by maintaining a miner at home as opposed to forfeiting every hash to these massive farms.
A lot of calculations done pretty fast. I don't think Jupiter and Neptune can be compared so directly - we have no idea at what clock speeds the Neptune chips will run. I am, however, almost certain it will not be the same clock as the Jupiters, so in essence we can't compare core-for-core performance.
Absolutely. There are a lot of things we STILL do not know. Instead of this being an attempt to show Neptune necessarily will hash at a theoretical 5TH, it's more meant as a counter to all the pseudo facts being thrown out in this clusterfuck of an over dramatic thread citing Neptune couldn't possibly ever ROI.
As others have said, we're not out of the woods yet.
Here's some calculations someone put together over at KnC's official forums. I am not heralding these figures as given facts, but in spite of the silly speculative doom and gloom that has swept over this thread, there still might be reason for optimism among those with outstanding Neptune orders.
That's nearly 5Th at under 2500 watts. Still speculation given that other factors have remained the same; ie. same number of chips per unit, etc.
Quote
With the new "tape out" information that KNC has provided, it gives everyone a clearer view of what we can expect. Below is an updated idea on what I think we can expect from the Neptune.
Hash rate: 4,875GH/s
Power: 2,237W (A couple 1,200W PSUs will probably do the trick. We'll need either a 220V line or two circuits at 110v. DON'T BUY THE PSUs YET! I have no idea if my projections are even close to correct in the end!)
Here's how I figured out the above numbers.
Jupiter has 192 cores. (http://forum.kncminer.com/forum/rese...than-3000-gh-s)
Jupiter needs at least 850W.
Jupiter hashes at 650GH/s for the November batch.
Neptune has 1440 cores. (https://www.kncminer.com/news/news-78)
Jupiter has a 40% power reduction per core than that of Jupiter.
Using these quick facts I gathered, we can figure out Neptune's potential specs.
(Jupiter's hash / Jupiter's cores) * Neptune's cores = Neptune's GH/s
(650/192) * 1440 = 4875 GH/s
((Jupiter's hash / Jupiter's power) * Neptune's hash) - 40% reduction in power per core
((650/850) * 4875) - 40% = 2237 W
Beautiful, yes? Well I think you're really going to like this next bit. It seems like people were scared for nothing and might feel like crap now that they refunded their orders, especially because they could have sold their place in line on eBay and made ~$25,000 from it. Anyway, here goes.
Using my formulas from my thread at: http://forum.kncminer.com/forum/rese...ity-assessment
We can see the following.
7.6PH/s - KNC DC (More hash than both Neptune batches combined)
5.85PH/s - First batch Neptunes
5.85PH/s - Second batch Neptunes
Notice that the KNC DC is now going to be putting out 4.1PH/s less than both Neptune batches combined. (11.7PH/s for both Neptune batches combined)
~19.3PH/s - Total KNC hash being added by (presumably) the end of Q2.
~28PH/s - Total current BTC network hash (http://bitcoincharts.com/bitcoin/)
(19.3 / 28) * 100 = ~69% (Percent of the current hash rate)
3,815,723,799 (Current difficulty) + 69% (Amount of hash being added) = 2,632,849,421 (Difficulty increase)
Now for the good part.
Formula:
Let A = PH/s being added to the network
(A / 28) * 100 = B% (Percent of new hash being added)
3,815,723,799 + B% = C (Projected difficulty)
April after first batch Neptunes come online without DC: 4,617,025,797 (A = 5.85PH/s - ~15.93 BTC per 30 days)
April after first batch Neptunes come online with DC: 5,647,271,223 (A = 13.45PH/s - ~13.023 BTC per 30 days)
May after second batch Neptunes come online without DC: 5,418,327,795 (A = 11.7PH/s- ~13.575 BTC per 30 days)
May after second batch Neptunes come online with DC: 6,448,573,220 (A = 19.3PH/s- ~11.406 BTC per 30 days)
I used the profit calculator at: http://www.bitcoinx.com/profit/
Also, remember that I have no way of accounting for how much difficulty increase will happen this month accurately and so I based things off of the current difficulty. We also don't know anything in this post to be completely true or when the Neptunes will be shipping, so this whole post might be completely wrong. In other words, don't go off of what I say alone. Do your homework and see if you find this to be accurate enough for you.
~ReworkedScripts @ KnC forum
Hash rate: 4,875GH/s
Power: 2,237W (A couple 1,200W PSUs will probably do the trick. We'll need either a 220V line or two circuits at 110v. DON'T BUY THE PSUs YET! I have no idea if my projections are even close to correct in the end!)
Here's how I figured out the above numbers.
Jupiter has 192 cores. (http://forum.kncminer.com/forum/rese...than-3000-gh-s)
Jupiter needs at least 850W.
Jupiter hashes at 650GH/s for the November batch.
Neptune has 1440 cores. (https://www.kncminer.com/news/news-78)
Jupiter has a 40% power reduction per core than that of Jupiter.
Using these quick facts I gathered, we can figure out Neptune's potential specs.
(Jupiter's hash / Jupiter's cores) * Neptune's cores = Neptune's GH/s
(650/192) * 1440 = 4875 GH/s
((Jupiter's hash / Jupiter's power) * Neptune's hash) - 40% reduction in power per core
((650/850) * 4875) - 40% = 2237 W
Beautiful, yes? Well I think you're really going to like this next bit. It seems like people were scared for nothing and might feel like crap now that they refunded their orders, especially because they could have sold their place in line on eBay and made ~$25,000 from it. Anyway, here goes.
Using my formulas from my thread at: http://forum.kncminer.com/forum/rese...ity-assessment
We can see the following.
7.6PH/s - KNC DC (More hash than both Neptune batches combined)
5.85PH/s - First batch Neptunes
5.85PH/s - Second batch Neptunes
Notice that the KNC DC is now going to be putting out 4.1PH/s less than both Neptune batches combined. (11.7PH/s for both Neptune batches combined)
~19.3PH/s - Total KNC hash being added by (presumably) the end of Q2.
~28PH/s - Total current BTC network hash (http://bitcoincharts.com/bitcoin/)
(19.3 / 28) * 100 = ~69% (Percent of the current hash rate)
3,815,723,799 (Current difficulty) + 69% (Amount of hash being added) = 2,632,849,421 (Difficulty increase)
Now for the good part.
Formula:
Let A = PH/s being added to the network
(A / 28) * 100 = B% (Percent of new hash being added)
3,815,723,799 + B% = C (Projected difficulty)
April after first batch Neptunes come online without DC: 4,617,025,797 (A = 5.85PH/s - ~15.93 BTC per 30 days)
April after first batch Neptunes come online with DC: 5,647,271,223 (A = 13.45PH/s - ~13.023 BTC per 30 days)
May after second batch Neptunes come online without DC: 5,418,327,795 (A = 11.7PH/s- ~13.575 BTC per 30 days)
May after second batch Neptunes come online with DC: 6,448,573,220 (A = 19.3PH/s- ~11.406 BTC per 30 days)
I used the profit calculator at: http://www.bitcoinx.com/profit/
Also, remember that I have no way of accounting for how much difficulty increase will happen this month accurately and so I based things off of the current difficulty. We also don't know anything in this post to be completely true or when the Neptunes will be shipping, so this whole post might be completely wrong. In other words, don't go off of what I say alone. Do your homework and see if you find this to be accurate enough for you.
~ReworkedScripts @ KnC forum
That's nearly 5Th at under 2500 watts. Still speculation given that other factors have remained the same; ie. same number of chips per unit, etc.
I haven't checked in here for awhile, I come back and it looks like the village has even more ruins and more fires than before. Well done KNC!
And the banter is as lively as ever. So, no news from KNC on the equipment? Where is Orama?
And the banter is as lively as ever. So, no news from KNC on the equipment? Where is Orama?
In regards to Orama;
Personal reasons that have nothing to do with KNC.
Not much to see here, just some pent up aggression leaking out a bit. No worries though, I'm sure it will be corralled and reburied a little deeper.
and so now they refund you with btc at the current exchange rate ?
That is one way for them to limit the bleeding.
in this case, I'll try to refund
I just send an email for information about refund in btc at the current exchange rateIt will depend on your order size. A single Neptune will be by a bank wire. I saw a response, from Kurt I think, on KnC's forum that said only large orders are refunded by BTC. When I asked about refunding my single Neptune, I was told it would be in USD.
Re: [BitFunder] IceDrill.ASIC IPO (500 Thash Mining Operation powered by HashFast)
We currently have in our possession 48 Sierras (most of them running under specs with roughly 35% of non working units running at total of roughly 48-54 Thash. We have an additional 34 Sierras to be plugged in and stabilized.
This statement has me confused...
- Are you saying you actually have a total of 82 Sierras in your possession right now? -48 operational & 34 offline
- "most running under spec", "about 35% non working units" ..I hate to argue semantics, but since 'most' = >50%, are you suggesting 35% are under spec, or that 35% are not running at all?
- And even if all 48 Sierras are operational, 48-54Th is only marginally below spec with each unit clocking 1.2Th; How far below your anticipated spec are we for the units that are online?
- Why are these additional 34 Sierras not running; were they received so recently you haven't had the chance to get them up yet, or are you waiting to stabilize the mine?
- How many total units are you waiting for delivery of before the order with HF is considered fulfilled?
Further questions...
- Since the average Joe IceDrill shareholder isn't privileged to know the details of the compensation received from HF, WHEN might that information be made available?
- Hypothetically speaking, would IceDrill management ever consider dealing with another HW vendor going forward since HF is not only failing to deliver the full number of units in a timely manner, but also ~3+ months late and under spec?
- Since it seems likely it will take over a year before investments can be paid back at .0016BTC per share (depending upon compensation conditions), are private investors still relegated to wait until public shares are paid back according to the terms of the original agreement, or has that item now been amended?
Most importantly...
- What is the time frame that investors can hope to see the first wave of dividends?
Thanks for your time and efforts DT & Will.
I'll close way off-color by saying, FUCK SCAMFAST IN THEIR FUCKING MOUTHS.
So where's this fleshlight fundraiser? I've been working out especially lol.
I'm not quite sure. My offer was still standing, but we haven't gotten any additional donations with committed amounts. The fleshlight campaign may be dead in the water, I'm afraid.
I doubt you'll get any other donations, but maybe Monica is willing to throw some Sexcoins in the pot? I'd suggest starting a new kitty thread but I'm still sceptical if many people would chip in. If Guybrush bottles it I'll probably do it if I can stick a sock on my schlong haha. Or maybe a giant Bitcoin logo?
I'm just trying to weigh up in my mind if it's worth it for £25 of Bitcoin I will pitch in 2000 sexcoins
But what are we getting again?Hey but I would request some kind of Sexcoin promo and bitcoin promo if you go for it... kind of like the ones I have been doing ok?
So Bitconorama is tupping for the clothings right? And all of us need to tip for the fleshlight?... I'm still game and I could bump my sexcoin donation a little if more people pitch in
Yes, I was covering the cost of this amazing leather uniform
with a .05 btc or sxc equivalent tip and a .15 donation to Sean's Outpost. Though with your sxc donation, Monica, it looks like we're still only half way there.
the idea is to promote btc (and/or sxc) ..so let's keep it classy and tasteful -cover your cock with a sock, or logo, or whatever you need to do.
Although, without having seen any other committed donations, I haven't much faith left in this campaign.
on another note,
Good luck on the venture, Monica.
So where's this fleshlight fundraiser? I've been working out especially lol.
I'm not quite sure. My offer was still standing, but we haven't gotten any additional donations with committed amounts. The fleshlight campaign may be dead in the water, I'm afraid.
How about we donate in Sexcoin? I think that helps their cause plus he would be buying something from that site anyway right?
I don't have any problems with that ..but does that mean it would make more sense for Sexcoin to get the publicity then? My goal is that a coin is promoted, not necessarily to buy a bunch of guys some fleshlights.Of course So are we promoting two guys or is this a race to see who shows more? 
If there are two willing guys to do this ...I'd say go for it, but I won't be doubling my donations. Unless we can raise donations to cover both, my offer will go to either guybrush or hilarious -makes no difference to me. However, if both will do it, I would consider increasing my donation to Sean's Outpost to a total of .25 BTC. So are we promoting two guys or is this a race to see who shows more? We've traded you in for a younger model . And I have yet to see any evidence of her being a woman.
It must be a woman ..she has a woman's name! . And I have yet to see any evidence of her being a woman. 
could be... but it looks easy to mine no?
It probably is right now being a very new coin, but a 97% premine sounds suspicious. Not to mention they don't give any real information about the coin and what it accomplishes, other than making numerous very grand statements about what it will do.Quote
We are everything what Bitcoin would ever wished it could be but could never become, because of its inherent weaknesses being the first. It is a first good prototype at best. Can you imagine any industry that relies on its first ever prototype for the next milenea.
12 month target price for Marinecoin, MTC = 5.5 USD
Marinecoin is far ahead of its time, 5-10 years beyond traditional thinking, let them make fun of you now, you will have your "who is laughing now?" moment, guaranteed.
12 month target price for Marinecoin, MTC = 5.5 USD
Marinecoin is far ahead of its time, 5-10 years beyond traditional thinking, let them make fun of you now, you will have your "who is laughing now?" moment, guaranteed.
The only specific difference (albeit a very interesting idea) they seem to share about MTC...
Quote
interest for savings accounts, planned payouts for retirement & unemployment fund in works
~&~
interest to savings account holders based on conditions in external economical conditions.
it just remains to be seen how exactly they'll accomplish this. And with the sweepingly vague "promises" of great financial fortune to be had, it looks suspicious to me.~&~
interest to savings account holders based on conditions in external economical conditions.
Maybe you should start another thread in off-topic since the newbie forum has been pretty much killed off now.
Or you can move this thread to another sub-forum.In any case, bitpay resolves the volatility issue for merchants.
USD value at introduction was referential. It's sort of irrelevant if it were initially only a penny, it was the trust in the gov't to back the currency for "whatever value they said it had" that garnered people's willingness to use and accept it. -despite the gov't trying several iterations of 'money'.
I love BitPay and the ability it gives merchants to ease into BTC adoption. Though I doubt the posters in this thread had this foresight 2.5 years ago.
Nice video! Well done.
Please don't take it personally, but when highlighting the "Main Differences", the small point size of each item combined with the constant panning and slow cam shake make it a little difficult to read. Same about the point size of the second page text and the time spent on each part. Might I suggest increasing font size, decrease the range of wiggle, spend some time on each point then move a little quicker to the next? ..lol sorry, you have your own creative vision and I can appreciate that. Just tossing out a little constructive criticism for you to take or leave.
Anyway, a very good video. It's great to have you here and keep making those vids! How about one for BTC now?
Please don't take it personally, but when highlighting the "Main Differences", the small point size of each item combined with the constant panning and slow cam shake make it a little difficult to read. Same about the point size of the second page text and the time spent on each part. Might I suggest increasing font size, decrease the range of wiggle, spend some time on each point then move a little quicker to the next? ..lol sorry, you have your own creative vision and I can appreciate that. Just tossing out a little constructive criticism for you to take or leave.
Anyway, a very good video. It's great to have you here and keep making those vids! How about one for BTC now?
Copy/Paste for now ..but that won't remain the primary method of capturing an address.
KryptoKit, a Chrome plugin for example, automatically extracts BTC addresses from within webpages and places them into a list to select from within the wallet. Or, it allows you to click on any address in a page and it will populate the address field in the wallet too.
KryptoKit, a Chrome plugin for example, automatically extracts BTC addresses from within webpages and places them into a list to select from within the wallet. Or, it allows you to click on any address in a page and it will populate the address field in the wallet too.
and so if somebody steals your coins, you might still have them also. there could be multiple copies of the same wallet. they haven't vanished from your harddrive. just a copy-and-paste operation .
And so, is the wallet smart enough to realize this? is the online exchange smart enough to realize this? in real time - not 3 months later when you attempt to spend the coins, and find out they are invalid now.
And so, is the wallet smart enough to realize this? is the online exchange smart enough to realize this? in real time - not 3 months later when you attempt to spend the coins, and find out they are invalid now.
Ok ..I think I understand what you're saying. Yes, your wallet is only code that can be copied. Someone that has obtained a copy of your wallet can either import it into their client and withdraw the funds immediately, ...or, they could sit on it and wait and watch for the balance to increase. Ultimately, once some has your wallet dat file, that particular wallet is forever compromised even if you're unaware of it. At the very time the thief withdraws the funds from your wallet balance, the shown balance in YOUR client will reflect that right away once it reconciles itself against the blockchain. You may be oblivious to your wallet file being stolen, but once the coins are spent, you will be aware.
As far as an online exchange goes, as mentioned previously, your coins are really in the exchange's coin pool. If someone gets access directly to your account you would most likely notice that your coins were stolen the next time you log into your account and notice a missing balance. If the exchange is hacked, well you could know immediately, or it could be some time depending upon the action taken by the exchange.
Oh, and use a trusted escrow if you do whom will send the money to me and the charity upon completion of the deal 
.
If we can gather enough donations together, I'll gladly arrange for an escrow. However, I don't anticipate I'll be putting in a great deal of effort if we can't scrape up what you need here..LOL are you actually gonna do this? I'd donate in your quest to earn a fleshlight lol
Well, I wasn't requesting the picture but since you asked count me in!
So how much would you both be in for? PM me if you'd prefer.Fresh idea!
Are you in for a donation?We may have enough in donations to make it go, guybrush. Might want to get a head start on shaving that body hair this weekend.
Oh wow but new favorite uniform seems vague. It has to be the one you posted right? Otherwise he could buy a pilot uniform.
but new favorite uniform seems vague. It has to be the one you posted right? Otherwise he could buy a pilot uniform. Absolutely ..good catch Monica. It would have to be the one that I had linked before. <-nsfw
Ok, here are the terms:
You will,
include Bitcoin in some prominent visual manner
include a name card for yourself
and provide a minimum of 2 pics of the entire ensemble to be posted on bitcointalk
I will,
send you .1 BTC for you to purchase your new favorite uniform
send you .05 BTC for your profit at the time the pics are posted
and donate .15 BTC to Sean's Outpost also at the time the pics are posted
I will gladly do that but I want enough money to buy one of these lol You will,
include Bitcoin in some prominent visual manner
include a name card for yourself
and provide a minimum of 2 pics of the entire ensemble to be posted on bitcointalk
I will,
send you .1 BTC for you to purchase your new favorite uniform
send you .05 BTC for your profit at the time the pics are posted
and donate .15 BTC to Sean's Outpost also at the time the pics are posted
.You can use the .05 BTC towards whatever you want, but the difference won't come from me. I'm already buying you a great leather strap teddy and giving you a nice little profit too, so if you'll need more, then we'll need some others to step forward with some donations. I'll leave it open to that ..or I can start a donation thread if you really want that fleshlight.
lol maybe later. I'm thinking a tip so you can go buy something like this and create a nice ad for BTC too. I'll include some profit, you can keep the clothing and you can show off for the ladies. Frankly, I don't see a downside for you. However, you'll need to make your own promo. What do you say?
If you buy me it and send me a handsome tip I'll wear it and post pics haha. I must warm, I'm not as buff as that guy.Ok, here are the terms:
You will,
include Bitcoin in some prominent visual manner
include a name card for yourself
and provide a minimum of 2 pics of the entire ensemble to be posted on bitcointalk
I will,
send you .1 BTC for you to purchase your new favorite uniform
send you .05 BTC for your profit at the time the pics are posted
and donate .15 BTC to Sean's Outpost also at the time the pics are posted
Note to myself to never open a link at work.. A coworker got a glance of guy in the picture
Probably one I should have included nsfw on. Sorry!
I meant that I haven't tipped you. lol ..so how about it guybrushthreepwood? Feel like making some money?
Sure. I'll show you my cock if the price is right.lol maybe later. I'm thinking a tip so you can go buy something like this (probably nsfw) and create a nice ad for BTC too. I'll include some profit, you can keep the clothing and you can show off for the ladies. Frankly, I don't see a downside for you. However, you'll need to make your own promo. What do you say?
How do you know if I haven't tipped her?
And how do you make images smaller when you quote them?
And how do you make images smaller when you quote them?
I meant that I haven't tipped you. lol ..so how about it guybrushthreepwood? Feel like making some money?
And how do you make images smaller when you quote them?
All very good questions haha specially the last one So you guys like the ad? You can use it and share it if you want
You'll need to specify the parameters within the IMG tag:
Code:
[img width=xx height=xx]xxxx[/img]
Confirmations are needed so that you know that the change of a double spend is close to nothing. And that isn't as easy as you think, it's quite a hassle and not worth if used for small transactions. The risk is for the seller, but he can take into account the change of some losses because of this. And with bigger transactions it would be wise to wait to see a few confirmations.
You don't need to wait. The confirmations already make it close to nothing. It's not as difficult and as big a problem as you think. Payment processors will probably insure against any loses within regards to this anyway, just like credit cards do, so moot point.
I agree, we'll likely see some 3rd parties come into the mix as BTC develops into a mainstream payment, including insurance. I don't really like the idea as that adds overhead costs, but likely a necessary burden. To add to that; while yes, confirmations are desirable to minimize risk, BTC is also capable of off-chain transactions. There could be more risk involved, however, given the proper scenario to protect all parties, these can be done instantly.