How exactly are they planning to send the necesarry data for all 64 ASICs through a single measly usb port? :o

I can't believe no other mainstream company ever tried to cash in on this before!

If what they say for their product is true- equal to 30 GPU's at a time, this should be a game changer, right? No more farms with riser extensions and 6xGPU's in one rig? Does that mean these boards will cost equally to 28 GPU's :)

The key to the profitability here is the performance per dollar vs performance per watt vs performance per block.

There are so many variables that if you wish to inquire on a mining chip you gotta be an artist with math. Be sure to have the best ASICSs that will support all three variables on a 24/7 continuous operational standard with your local power company.

..2 years ago, it was done with gpus. Now the required compute power is 1 million times higher, good luck with those.

just back to dedicated system, and for serious mining

ANYTHING to keep the crypto miners from jacking up the prices of gpu's sounds AWESOME to me!

There is a sucker or two born every second... ;)

Is this still SHA256, or the first commercially-available Scrypt ASIC?

Stil SHA-256, divide 25 GH/s by 30, 833 MH/s, so for normal Bitcoin.

But 25 GH/s ist not enough to play in Bitcoin-Mining today. At the current difficulty you gain 12$ per week. In two or three months you make just a few dollar per week. Newest ASIC miner have a hashrate measured in TH/s

This has never been explained or at least I keep missing it... the work (mathematical calculations) being done to benefit "Whom" and you are getting paid for that work?

Or are miners just unearthing what amounts to 4-leaf clovers that someone (the people who have/want them) deems as valuable? Gold is valuable as yes it hard to find and folks perceive it value from it rarity and tangibility. Ok unearthing crypto-currency has to some a degree both that, but someone created the algorithm and only tangible in the world of 0’s and1’s, it all seems shaky… Mother nature controls gold and other rare minerals values. If tomorrow someone unearthed 16 cubic mile of gold, sure there goes the price. But still gold has real "uses" to make all kind of useful stuff, even if it was found in abundance. Do solving these mathematical calculations/ algorithm do anything? Are they unearthing a cure for cancer, unlocking time-travel, what is there perceived good/tangible to the world, other than wasting electricity? The unique properties of gold provide a variety of applications in electronics, engineering, and healthcare. Even if gold was in abundance people could find more uses due to it being more cost effective.

Some Leprechaun (no one absolutely knows who created this) says "find-me 4-leaf clovers" and it leads to a "Pot-of-Gold" and for some right now it’s true. But just like what predominantly was to blame for the 1929 Crash of the Stock Market, folks put their faith in “Buying on the Margin”, it probably sounded as much the "sure thing" as Bitcoin sounds today.

There's so many downsides it makes no real sense. I’ll give a couple... how does anyone know there's not going to be that "16 cubic miles" of algorithms unlocked tomorrow? What can be made from a Bitcoin, you know real things?

IDK I guess I’m looking to be sckooled... in such New World Economics.

u dont have to pay 15-20% for money transfers. that alone is huge. theres other stuff good and bad, but all in all the general idea is very nice.

i've wondered about dedicating my home pc to bitcoin mining. How long does it take to get a coin? and are percentages of a bitcoin worth cash aswell or do you have to wait till you have 1 whole coin?

CasecutterThis has never been explained or at least I keep missing it... the work (mathematical calculations) being done to benefit "Whom" and you are getting paid for that work?

Or are miners just unearthing what amounts to 4-leaf clovers that someone (the people who have/want them) deems as valuable? Gold is valuable as yes it hard to find and folks perceive it value from it rarity and tangibility. Ok unearthing crypto-currency has to some a degree both that, but someone created the algorithm and only tangible in the world of 0’s and1’s, it all seems shaky… Mother nature controls gold and other rare minerals values. If tomorrow someone unearthed 16 cubic mile of gold, sure there goes the price. But still gold has real "uses" to make all kind of useful stuff, even if it was found in abundance. Do solving these mathematical calculations/ algorithm do anything? Are they unearthing a cure for cancer, unlocking time-travel, what is there perceived good/tangible to the world, other than wasting electricity? The unique properties of gold provide a variety of applications in electronics, engineering, and healthcare. Even if gold was in abundance people could find more uses due to it being more cost effective.

Some Leprechaun (no one absolutely knows who created this) says "find-me 4-leaf clovers" and it leads to a "Pot-of-Gold" and for some right now it’s true. But just like what predominantly was to blame for the 1929 Crash of the Stock Market, folks put their faith in “Buying on the Margin”, it probably sounded as much the "sure thing" as Bitcoin sounds today.

There's so many downsides it makes no real sense. I’ll give a couple... how does anyone know there's not going to be that "16 cubic miles" of algorithms unlocked tomorrow? What can be made from a Bitcoin, you know real things?

IDK I guess I’m looking to be sckooled... in such New World Economics.

I will try and break this down somewhat but I do not have all the answers.

The mathematical calculations support the system, not one person or persons. VISA has servers that process transactions saying that Alice gave Bob $10, and that Bob now has $20. Essentially this work is distributed in an open source system. The work is shared, and so too is the record. Everyone can see that Bob has $20, at least if they know Bob's address.

On the tangibility and usefulness of bitcoins, I can take this two ways. I can take it as bitcoin the system or bitcoin the currency. Bitcoin right now plays both. Bitcoin to me is for more interesting and far more valuable for its system. Bitcoin can be thought of as similar to the internets TCP but instead for a financial system. I don't feel like I have to explain this as much because it falls in line with my previous VISA Alice and Bob explanation.
I can only explain so eloquently so I will provide some links of this topic that I find very explanatory on the theory here.
bitcoinmagazine.com/8640/an-exploration-of-intrinsic-value-what-it-is-why-bitcoin-doesnt-have-it-and-why-bitcoin-does-have-it/
bitcoinmagazine.com/10702/economists-hate-bitcoin/

I hope that answered some questions you have, and I hope other knowledgeable people can hop in here and maybe give a good answer too.

a_umpi've wondered about dedicating my home pc to bitcoin mining. How long does it take to get a coin? and are percentages of a bitcoin worth cash aswell or do you have to wait till you have 1 whole coin?

What's your graphic card?

james888I will try and break this down ... I hope that answered some questions you have, and I hope other knowledgeable people can hop in here and maybe give a good answer too.

Thank you! I don't want to come across as a detractor, but this all lies between those folks who jump in and find it satisfying even if they don’t or can’t full explain it, while others need logic and confidences that comes from a good grasp of the process. I see people who start a business or products with no knowledge of what it takes or what they’re up against. Undaunted sometimes they can perseverance and work though all the hurdles and it works for them, more often they'll flounder. For every 1 that makes it, there are 9 that took it on the chin, but they don't shout it from the mountains so you rarely see that outcome.

I see established financial institutions (banks, investment) looking at this and trying to see if they can make money (embrace it) or kill it as a threat.
Thank for the links I'll read up.

CasecutterI see established financial institutions (banks, investment) looking at this and trying to see if they can make money (embrace it) or kill it as a threat.
Thank for the links I'll read up.

Another good source of info would be the bitcoin senate hearings they had a few weeks back. I was surprised, but good questions were asked.