Bitcoin Forum
May 21, 2019, 10:34:56 PM *
News: Latest Bitcoin Core release: 0.18.0 [Torrent] (New!)
 
   Home   Help Search Login Register More  

Warning: Moderators do not remove likely scams. You must use your own brain: caveat emptor. Watch out for Ponzi schemes. Do not invest more than you can afford to lose.

Pages: « 1 ... 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 [54] 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 »
  Print  
Author Topic: ActiveMining Overview and Speculation Thread  (Read 167498 times)
identityunknown
Newbie
*
Offline Offline

Activity: 15
Merit: 0


View Profile
August 05, 2013, 03:54:30 AM
 #1061

I keep seeing this $200M deal being vaguely worded. A lot of "has plans to" and "is interested in"...

Is this $200M Avalon deal already set in stone?

Absolutely, see http://online.wsj.com/article/SB10001424127887323997004578644491403250124.html. A billionaire has decided to back Avalon.
The forum was founded in 2009 by Satoshi and Sirius. It replaced a SourceForge forum.
Advertised sites are not endorsed by the Bitcoin Forum. They may be unsafe, untrustworthy, or illegal in your jurisdiction. Advertise here.
deltanine
Full Member
***
Offline Offline

Activity: 231
Merit: 100



View Profile
August 05, 2013, 03:55:51 AM
 #1062

I keep seeing this $200M deal being vaguely worded. A lot of "has plans to" and "is interested in"...

Is this $200M Avalon deal already set in stone?

Absolutely, see http://online.wsj.com/article/SB10001424127887323997004578644491403250124.html. A billionaire has decided to back Avalon.

It's behind a paywall now.  Here's the article:

------------------------------

Famed Trader Joe Lewis Backs Bitcoin
Article
Stock Quotes
Comments
MORE IN MARKETS »
smaller
Larger
facebook
twitter
google plus
linked in
EmailPrint
Save
↓ More
By HARRIET AGNEW
Joe Lewis, a billionaire foreign-exchange trader who teamed up with hedge-fund manager George Soros in 1992 to bet against the Bank of England, is the latest high-profile financier to throw his weight behind the virtual currency called bitcoin.

Mr. Lewis leads the Phoenix Fund, a Zurich-based private-equity fund that on Tuesday plans to invest $200 million in Avalon, a company that makes computer servers aimed at creating bitcoins, according to people familiar with the situation.

Bitcoin is a virtual currency that exists online and isn't backed by any government or central bank. Bitcoins were invented in 2008 by a computer programmer who goes by the pseudonym Satoshi Nakamoto, who describes it as a peer-to-peer electronic cash system.

Enlarge Image
image
ZUMAPRESS.com
Joe Lewis's Phoenix Fund is investing in a bitcoin company.

The Phoenix Fund's investment in Avalon reflects the growing popularity of virtual currencies, which are also coming under scrutiny from regulators. Other bitcoin enthusiasts include Cameron and Tyler Winklevoss, who are best known for their role in the creation of Facebook Inc. FB +1.50% They have proposed an exchange-traded fund that is tied to bitcoins.

Bitcoins are created through a process called mining, in which computers solve complex mathematical algorithms to earn the bitcoins. The total number of bitcoins that can be mined is limited to 21 million. There are now about 11.5 million bitcoins in circulation, according to Blockchain, a website that monitors bitcoin transactions.

The Phoenix deal will also involve Taiwanese microchip maker Taiwan Semiconductor Manufacturing Co., 2330.TW 0.00% which is set to supply the state-of-the-art microchips that will power the hardware.

The Phoenix Fund was set up this year to invest in bitcoin mining-hardware companies. It looked at several of Avalon's rivals in the sector, including Butterfly Labs and KnCMiner but decided against investing, according to a person familiar with the private-equity firm's strategy.

Investors in the Phoenix Fund, which includes a small number of individuals who made their fortunes in currency trading, believe that the currency will become more stable and popular if more parties are involved in the mining process, this person said.

Mr. Lewis moved into currency trading in the 1980s and 1990s. In September 1992, Mr. Lewis teamed up with Mr. Soros to bet on sterling crashing out of the European Exchange Rate Mechanism, an event that was later named "Black Wednesday." Mr. Lewis didn't respond to a request for comment.

Mr. Lewis had big losses investing in U.S. brokerage firm Bear Stearns Cos, in which he began amassing a stake during 2007, The Wall Street Journal reported at the time.

Mr. Lewis is the main investor in an unlisted company called Tavistock Group, which has investments in more than 200 companies across the globe.

Tavistock Group includes ENIC Group, which has a Bahamas-registered subsidiary called ENIC International Ltd., through which Mr. Lewis owns 85% of the shares in U.K. soccer club Tottenham Hotspur.

The Phoenix Fund is independent of Tavistock.

The bitcoin deal was put together by Andrew Laurus, a former government-bonds salesman at Lehman Brothers who is also an investor in the fund. Avalon was set up by Yifu Guo, a pioneer in the bitcoin-mining industry. He was part of the team that developed the first ASIC bitcoin mining hardware. ASIC stands for application-specific integrated circuit, a type of custom-designed microchip. Mr. Guo couldn't be reached for comment.

Separately, Coinflash, a company that planned to set up kiosks for bitcoin enthusiasts to buy the virtual currency, is shutting down before it even opened its doors. "Due to an unforeseen change in our personal circumstances, we've made the difficult decision to suspend Coinflash's services indefinitely," the San Diego-based company said in an email statement.

Coinflash was established earlier this year and had planned to open the bitcoin kiosks in California and New York this summer.

As part of the deal, Avalon will gain access to TSMC microchips based on 20-nanometer processes, which are much faster than other chips. TSMC recently won a contract to supply chips to Apple. The increased processing power should give Avalon an edge in solving the algorithms that control the supply of bitcoins.

—Robin Sidel contributed to this article.
Write to Harriet Agnew at [email protected]

Freedom is a state of mind, and then Bitcoin comes along.....
-S4VV4S
somestranger
Hero Member
*****
Offline Offline

Activity: 487
Merit: 500


Are You Shpongled?


View Profile
August 05, 2013, 03:57:21 AM
 #1063

I keep seeing this $200M deal being vaguely worded. A lot of "has plans to" and "is interested in"...

Is this $200M Avalon deal already set in stone?

Absolutely, see http://online.wsj.com/article/SB10001424127887323997004578644491403250124.html. A billionaire has decided to back Avalon.
This has not been confirmed yet. It is all based on rumors from anonymous sources as claimed in both articles. Even if it is true they aren't going to be pumping chips out for 6-12 months because 20nm is bleeding edge technology.
ronaldlee0917
Full Member
***
Offline Offline

Activity: 238
Merit: 100



View Profile
August 05, 2013, 03:58:49 AM
 #1064

Cheap shares everywhere! Shocked

Donation:    18zXsfnSvGjQFJ6pEiKMg2uWGcxUCfJLzu
Mastercoin - A new protocol layer built on top of Bitcoin
iCEBREAKER
Legendary
*
Offline Offline

Activity: 2114
Merit: 1067


Crypto is the separation of Power and State.


View Profile WWW
August 05, 2013, 06:48:32 AM
Last edit: August 05, 2013, 10:46:30 AM by iCEBREAKER
 #1065

The adults were already here: http://www.crunchbase.com/company/easic (eASIC received $23.5M in Venture Round funding. (7/10/13))

$23.5 million?  That's chump change.  Welcome to the big leagues, son!   Grin

When you get out of the kiddy pool and into the deep end, there are plenty of adults!   Wink

I'll see your eASIC and raise you one Open-Silicon:

Quote
In December 2007 Unicorn Investment Bank acquired 75% of Open-Silicon for $190M, with the rest of the company employee-owned.

In May 2007, Open-Silicon acquired Zenasis Technologies, a maker of processor optimization EDA software.  This technology has become the core of Open-Silicon's MAX Technologies. This technology has also been expanded by Open-Silicon to focus on low power design and process variability management.

In 2008 and 2009, Open-Silicon received the "Most Respected Private Semiconductor Company" Award from the Global Semiconductor Alliance (GSA).

In 2009 Open-Silicon acquired design services firm Silicon Logic Engineering (SLE). This acquisition has enhanced the company's derivative IC design capabilities.

In 2010 the company opened new facilities in Research Triangle Park, North Carolina, and Pune, India, to provide additional support for derivative IC design.

In 2012, Open-Silicon acquired and grew substantial design operations in Pakistan and Taiwan

eASIC has <200 employees, Open-Silicon has 400!   Shocked

Ken is a minor customer of eASIC; Dr. Sherwani is the FOUNDER of Open-Silicon AND Cointerra.

Even if Ken was the FOUNDER of eASIC, we'd still have one hell of a fight on our hands!

As things stand now, we're heading into a potential bloodbath.

You're going to need a bigger set of pom-poms!



██████████
█████████████████
██████████████████████
█████████████████████████
████████████████████████████
████
████████████████████████
█████
███████████████████████████
█████
███████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
███████████████████████████
██████
██████████████████████████
█████
███████████████████████████
█████████████
██████████████
████████████████████████████
█████████████████████████
██████████████████████
█████████████████
██████████

Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
Is Dash a scam?
Vbs
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


View Profile
August 05, 2013, 09:46:11 AM
 #1066

(...)

http://www.cointerra.com/team/
Cointerra’s ground-breaking architecture, design and development team is led by industry veterans Ravi Iyengar, Dr. David Tannenbaum and Jim O’Connor. The advisory board is headed up by Dr. Naveed Sherwani.

Please go read what an advisory board means before such doom and gloom. The FOUNDER of Cointerra is Ravi Iyengar.
iCEBREAKER
Legendary
*
Offline Offline

Activity: 2114
Merit: 1067


Crypto is the separation of Power and State.


View Profile WWW
August 05, 2013, 09:58:13 AM
 #1067

OK, Dr. ASIC is the founder of Open-Silicon and 'only' heads Cointerra's advisory board.

Obviously that's no biggie and I was worried over nothing.  Whew, what a relief!   Cool


██████████
█████████████████
██████████████████████
█████████████████████████
████████████████████████████
████
████████████████████████
█████
███████████████████████████
█████
███████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
███████████████████████████
██████
██████████████████████████
█████
███████████████████████████
█████████████
██████████████
████████████████████████████
█████████████████████████
██████████████████████
█████████████████
██████████

Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
Is Dash a scam?
hf
Member
**
Offline Offline

Activity: 98
Merit: 10


there will be no fucking vegetables


View Profile
August 05, 2013, 10:00:23 AM
 #1068

I don't get why people are selling right now.

Cointerra is *good news* for ActiveMining.

http://www.cointerra.com/about/ says :

Quote
It’s All About 28nm
The days of 110nm or even 65nm silicon being competitive in the world of Bitcoin mining are rapidly drawing to an end.  The arrival of 28nm silicon to Bitcoin mining has ushered in a new era – its compact geometry offers superior performance and power efficiency by several orders of magnitude.

We are confident that we will have the most competitive silicon in performance and power consumption available, and we expect that to result in an unbeatable price/performance proposition – not just for the upfront cost of the silicon but also for the power consumption over the mining life of the hardware.  We know that there is competition from others who are rushing out their 28nm offerings in order to beat us to market, but the compromises that they are making in order to do so means that we may not be the first, but we will be the best.

Such recognition for Ken's choice to go 28nm should bring confidence in ActiveMining. At least, I'm confident.

ActiveMining will be the first. ActiveMining may not be the best, but ActiveMining does will still be selling hardware AND mining on 28nm before Cointerra.

Obviously if you fear competition, not only you should NOT invest in ActiveMining, but you should NOT invest in *anything related to cryptocurrency mining*.
Vbs
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


View Profile
August 05, 2013, 10:01:00 AM
 #1069

OK, Dr. ASIC is the founder of Open-Silicon and 'only' heads Cointerra's advisory board.

Obviously that's no biggie and I was worried over nothing.  Whew, what a relief!   Cool

Dr. ASIC? I thought he is 'the' King ASIC to you now! Cool
ArcticWolf
Full Member
***
Offline Offline

Activity: 196
Merit: 100



View Profile
August 05, 2013, 10:12:04 AM
 #1070

I don't get why people are selling right now.

Cointerra is *good news* for ActiveMining.

http://www.cointerra.com/about/ says :

Quote
It’s All About 28nm
The days of 110nm or even 65nm silicon being competitive in the world of Bitcoin mining are rapidly drawing to an end.  The arrival of 28nm silicon to Bitcoin mining has ushered in a new era – its compact geometry offers superior performance and power efficiency by several orders of magnitude.

We are confident that we will have the most competitive silicon in performance and power consumption available, and we expect that to result in an unbeatable price/performance proposition – not just for the upfront cost of the silicon but also for the power consumption over the mining life of the hardware.  We know that there is competition from others who are rushing out their 28nm offerings in order to beat us to market, but the compromises that they are making in order to do so means that we may not be the first, but we will be the best.

Such recognition for Ken's choice to go 28nm should bring confidence in ActiveMining. At least, I'm confident.

ActiveMining will be the first. ActiveMining may not be the best, but ActiveMining does will still be selling hardware AND mining on 28nm before Cointerra.

Obviously if you fear competition, not only you should NOT invest in ActiveMining, but you should NOT invest in *anything related to cryptocurrency mining*.

A big +1 on this from me.
Also why panic and sell your shares when you cant buy shares in Cointerra anyway?

https://www.crypto-trade.com/ref/arcticwolf Try CryptoTrade.com, a new exchange for trading Currencies and Securities
iCEBREAKER
Legendary
*
Offline Offline

Activity: 2114
Merit: 1067


Crypto is the separation of Power and State.


View Profile WWW
August 05, 2013, 10:57:34 AM
 #1071

Dr. ASIC? I thought he is 'the' King ASIC to you now! Cool

Friendcat is King ASIC for now.

But I did also consider saying 'Professor ASIC' since the dude wrote a textbook on the subject. 

No need to be jelly Vbs, I'm sure your CV is fairly impressive too!


██████████
█████████████████
██████████████████████
█████████████████████████
████████████████████████████
████
████████████████████████
█████
███████████████████████████
█████
███████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
████████████████████████████
██████
███████████████████████████
██████
██████████████████████████
█████
███████████████████████████
█████████████
██████████████
████████████████████████████
█████████████████████████
██████████████████████
█████████████████
██████████

Monero
"The difference between bad and well-developed digital cash will determine
whether we have a dictatorship or a real democracy." 
David Chaum 1996
"Fungibility provides privacy as a side effect."  Adam Back 2014
Buy and sell XMR near you
P2P Exchange Network
Buy XMR with fiat
Is Dash a scam?
Vbs
Hero Member
*****
Offline Offline

Activity: 504
Merit: 500


View Profile
August 05, 2013, 11:12:47 AM
 #1072

Dr. ASIC? I thought he is 'the' King ASIC to you now! Cool

Friendcat is King ASIC for now.

But I did also consider saying 'Professor ASIC' since the dude wrote a textbook on the subject.  

No need to be jelly Vbs, I'm sure your CV is fairly impressive too!

 Grin

Technologov
Full Member
***
Offline Offline

Activity: 203
Merit: 100


View Profile
August 05, 2013, 11:30:03 AM
 #1073

Please add a list of competitors on first page:

-AMD GPUs (yeah, a few million GPUs make an impact) - how much % of total hash ?
-Avalon
-ASICminer
-Butterfly Labs (assuming they get their parts together)
-KnC miner

Potential competitors, developing own ASICs:
-BIT Garden
-Cointerra
-Labcoin

Not sure about counting-in companies, that produce hardware based on Avalon's ASICs.
kleeck
Hero Member
*****
Offline Offline

Activity: 532
Merit: 500


https://karatcoin.co


View Profile
August 05, 2013, 11:30:54 AM
 #1074

Did any of the doomsayers think over why Cointerra made present themselves only after a bunch of new ASIC producers appeared? Couldn´t it be they are actually afraid (didn´t want to say scared) to lose a portion of their planned marketshare and profit? If they´re so confident in their product, why they chose such a timing for their posts on BitcoinTalk? As was already pointed out, we aren´t able to invest in their company so there is a little use for them to advertise their future products here (save for driving away the potential investors from their competitors). They are going to be tough competition for sure, but nothing in the scale "the party is over for us" IMHO.

Hint: Try to look at the posts history of the user cointerra. He was apparently in a haste to be out of newbie jail two days ago.

Absolutely. This party is just getting started, and ActM is early. I'm excited about the prospect of more big money in the Bitcoin Ecosystem, but it won't have any impact on the mining market for some time to come (aside from stirring panic sellers into making decisions they will regret).



  █ █████       ▄████▀▄██▀
  █ █████     ▄████▀███▀
  █ █████    ████▀███▀
  █ █████  ▄███▀███▓
  █ █████▄███▀████▀
  █ ███████▀████▀
  █ █████▀▄█████▄
  █ ███▀▄█████████▄
  █ █▀▄██ ▀█████████▄
  █ ▄████   ▀███████▀█▄   
  █ █████     ▀███▀▄████▄
  █ █████       ▀▄████████▄
                   
                    █████                   
                ▄███  █  ███▄               
             ███      █      ███             
         ▄███         █         ███▄         
       ██    ███████████████████    ██       
    ████            ██ ██            ████   
    ██             █     █             ██   
    █ █           █       █           █ █   
    █ ██         █         █         ██ █   
    █  ██      ██           ██      ██  █   
    █   ██    ██             ██    ██   █   
    █    ██  ██               ██  ██    █   
    █     █ ██                 ██ █     █   
    █     █████████████████████████     █   
    █  ███  ██                 ██  ███  █   
    ███       █               █       ███   
      ███      ██           ██      ███     
         ███     █         █     ███         
            ▀███  ██     ██  ███▀           
                ▀████   ████▀               
▀███▀
                 
██
██
██
██
██
██
██
██
██
██
██
██
██
ArcticWolf
Full Member
***
Offline Offline

Activity: 196
Merit: 100



View Profile
August 05, 2013, 12:54:27 PM
 #1075

CNBC says Joe Lewis is denying the report about Avalon. Looks like they didnt get any $200 million deal after all.

Can someone who saw the coverage please confirm?

https://www.crypto-trade.com/ref/arcticwolf Try CryptoTrade.com, a new exchange for trading Currencies and Securities
kleeck
Hero Member
*****
Offline Offline

Activity: 532
Merit: 500


https://karatcoin.co


View Profile
August 05, 2013, 12:57:00 PM
 #1076

CNBC says Joe Lewis is denying the report about Avalon. Looks like they didnt get any $200 million deal after all.

Can someone who saw the coverage please confirm?

Shocking. In before the, "OF COURSE HE IS DENYING IT! TOP SECRET!!" defense.  Roll Eyes

CNBC says Joe Lewis is denying the report about Avalon. Looks like they didnt get any $200 million deal after all.

Can someone who saw the coverage please confirm?

Tweet:
Scott Wapner ‏@ScottWapnerCNBC 1m
Investor Joe Lewis tells me the story alleging his Bitcoin-related investment is 'completely untrue'.


  █ █████       ▄████▀▄██▀
  █ █████     ▄████▀███▀
  █ █████    ████▀███▀
  █ █████  ▄███▀███▓
  █ █████▄███▀████▀
  █ ███████▀████▀
  █ █████▀▄█████▄
  █ ███▀▄█████████▄
  █ █▀▄██ ▀█████████▄
  █ ▄████   ▀███████▀█▄   
  █ █████     ▀███▀▄████▄
  █ █████       ▀▄████████▄
                   
                    █████                   
                ▄███  █  ███▄               
             ███      █      ███             
         ▄███         █         ███▄         
       ██    ███████████████████    ██       
    ████            ██ ██            ████   
    ██             █     █             ██   
    █ █           █       █           █ █   
    █ ██         █         █         ██ █   
    █  ██      ██           ██      ██  █   
    █   ██    ██             ██    ██   █   
    █    ██  ██               ██  ██    █   
    █     █ ██                 ██ █     █   
    █     █████████████████████████     █   
    █  ███  ██                 ██  ███  █   
    ███       █               █       ███   
      ███      ██           ██      ███     
         ███     █         █     ███         
            ▀███  ██     ██  ███▀           
                ▀████   ████▀               
▀███▀
                 
██
██
██
██
██
██
██
██
██
██
██
██
██
alexius89
Hero Member
*****
Offline Offline

Activity: 709
Merit: 500


Gridcoin Foundation


View Profile WWW
August 05, 2013, 01:10:07 PM
 #1077

CNBC says Joe Lewis is denying the report about Avalon. Looks like they didnt get any $200 million deal after all.

Can someone who saw the coverage please confirm?


well...here?  https://twitter.com/ScottWapnerCNBC/statuses/364370798892421120

steveioio
Member
**
Offline Offline

Activity: 70
Merit: 10


View Profile
August 05, 2013, 01:17:40 PM
 #1078

Yes it's utterly false and therefore most probably a ploy to make the shares slide and buy in low. So we are back to where we were. ACtM to the MOON!!!

ha ha ha

 Cool
Exocyst
Sr. Member
****
Offline Offline

Activity: 266
Merit: 250


Science!


View Profile
August 05, 2013, 01:24:21 PM
 #1079

Yes it's utterly false and therefore most probably a ploy to make the shares slide and buy in low. So we are back to where we were. ACtM to the MOON!!!

ha ha ha

 Cool

Are you accusing the WSJ of BTC market manipulation? I don't think bitcoin is that big yet.

matuszed
Full Member
***
Offline Offline

Activity: 154
Merit: 100



View Profile
August 05, 2013, 01:26:23 PM
 #1080

Yes it's utterly false and therefore most probably a ploy to make the shares slide and buy in low. So we are back to where we were. ACtM to the MOON!!!

ha ha ha

 Cool

Are you accusing the WSJ of BTC market manipulation? I don't think bitcoin is that big yet.

haha yea.  They have much bigger markets at their bidding if they want.

"Markets can remain irrational longer than you can remain solvent." -Keynes
Pages: « 1 ... 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 46 47 48 49 50 51 52 53 [54] 55 56 57 58 59 60 61 62 63 64 65 66 67 68 69 70 71 72 73 74 75 76 77 78 79 80 81 82 83 84 85 86 87 88 89 90 91 »
  Print  
 
Jump to:  

Sponsored by , a Bitcoin-accepting VPN.
Powered by MySQL Powered by PHP Powered by SMF 1.1.19 | SMF © 2006-2009, Simple Machines Valid XHTML 1.0! Valid CSS!