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iBeLink™ DM384M ASIC Dash Miner

iBeLink said:
Well, the problem is that we have to pay our vendors and partners with fiat, and we are running an exporting business which requires to meet many regulations and international laws. If Bitpay or Coinbase accept Dash, we would be very happy to accept Dash as a payment method.
Click to expand...

The problem I have with that answer is.... many fold.....
-------------------------------
Let's say....

DASH payment for your product comes in.
Why do you have to ONLY use ??those services?? to transform said DASH into any other 'form'?

Sounds to me like your unwilling to go the extra mile in accounting and record keeping to prove where the fiat came from when you have to pay your vendors and partners - to avoid being accused of money laundering.
Exactly what regulations and international laws do you have to follow, to convert ANY crypto into any other form of crypto and/or fiat, without using the said services you speak of?
Sounds to me like you're unwilling to commit to DASH even though you want to profit from DASH's X11
Accounting and record keeping of any currency, be it crypto and/or fiat, would be a requirement of most, if not all countries - to prevent money laundering. - I get it
but
I personally feel like your just in this for a profit and not actually into it to help DASH move forward

I understand wanting to start - anything - and make it as stream-lined as possible - gotta start some where - but if I lived in the UK and moved to Brasil I would not expect Brazilians to pay me in Brit Pounds

My debate might be a bit half-assed but I hope you get the point.

This ASIC is not worth it, by any means, but I know you'll get your sales - SOLD OUT!!!
Some people have money to throw away.... but not me

The architecture was the first red flag and the power consumption was the next red flag - I'll pass - but would love for you to answer the concern/question(s) above......
 
The choice of 152 nm was strictly due to cost sensitivity. You can probably get a protoype 152 nm chip on a shuttle run for less than $100k. A full wafer build is probably $250k-$300k. If this iteration proves to be profitable I'm guessing they'll move to 55nm as the next sweet spot for cost/transistor.

You guys are ripping this product to shreds, and as consumers you are certainly welcome to do so. Mining is very tough business to make any money in, so you should be skeptical of any promises to turn a profit. To me it's impressive that people even try mining at all.

I don't want the important part of this story to be lost. First, someone successfully went through the rat race of building out 11 hashing algorithms in RTL. That's enough work to mine with FPGAs in secret, and it could have stopped there. But no, some people went to the massive extra effort to build an I.C. and bring it to market. There was little need to do this second part, but some people out there want to see DASH succeed, and a blockchain secured by distributed mining resources (ASICs in the hands of many) is a very important part of the cryptocurrency ecosystem. This achievement has the potential to put DASH on the same playing field as Bitcoin (and Litecoin, FWIW).
 
You have to understand - we are a very protective group when it comes to DASH
If we have to 'rip' something or somebody apart - just to twist arms, to get more info - so be it....

Crypto is not a "safe place" and scammers will be scammers - so - I would hope you, anybody, would understand
--> We'll question something to near death and if it passes all the "tests" - there is little to worry about.

But I will surely sit on the side-line and see how this 'product' plays out....

I would rather somebody claim SCAM and be wrong
Rather than be naive and simply say everything is fine, when it's not - because questions and/or research was not done


edit: I already know that I'm an asshole/prick/whatever you want to call it but I'm sick of getting fucked with - generally speaking of course
 
SHA256(BTC...) & Scrypt(LTC...), there are no any mechanism to affect the ASIC manufacturers monopoly the mining/currency distribution in their ecological. But in Dash ecosystem, We have Masternode + Voting System. You know what i mean? :wink:

Again ,glade to see more serious capital get into Dash ecosystem, like providing much more strong network service. Let's turn it into a good thing :wink:
 
iBeLink said:
Well, the problem is that we have to pay our vendors and partners with fiat, and we are running an exporting business which requires to meet many regulations and international laws. If Bitpay or Coinbase accept Dash, we would be very happy to accept Dash as a payment method.
Click to expand...

You may want to look at shapeshift.io to convert dash to bitcoin without using an exchange. They have an api you can incorporate in your website to automatically do this.
 
MangledBlue said:
The problem I have with that answer is.... many fold.....
I personally feel like your just in this for a profit and not actually into it to help DASH move forward

I understand wanting to start - anything - and make it as stream-lined as possible - gotta start some where - but if I lived in the UK and moved to Brasil I would not expect Brazilians to pay me in Brit Pounds

My debate might be a bit half-assed but I hope you get the point.

This ASIC is not worth it, by any means, but I know you'll get your sales - SOLD OUT!!!
Some people have money to throw away.... but not me
Click to expand...

Of course they are. You can't read between the lines?

For a long while, my birdies have been chirping about X11 hardware implementations in the wild. I always knew it was possible - as I know some hardware dev, but then the first whispers came. Then more and more. As of late, maybe a couple months ago, it was pretty much confirmed - the sources were almost impeccable. This tells me something, that the tech is SPREADING. This is bad for the people that already have it, and THIS is why that ASIC is being sold. Not reaching 100% ROI on it at this price is nearly certain; it's time to dump the bottom of the barrel ASICs onto people with more money than sense and let the hardware race begin.
 
Hello Everyone, I had a very good meeting with oaxaca this morning in Santa Clara, California. I believe this community will see oaxaca's meeting recap in near future. I would like to express my appreciation toward oaxaca for good conversation.
 
Hi folks,

Site Visit Report - X11 ASIC
Location: redacted

I can confirm that I met with iBeLink today and ended up with a story and a demo. The story was both believable and convincing. The demo met my expectations. I know, I know a million questions. First the story.

There is a group of people based in China who researched DASH and formulated a plan to design and build equipment that would ensure network security. As you are all aware, the current mining environment involves bungee cords, milk crates, high end video cards, and extremely pissed off spouses. This is a potential red flag to investors. The group used their collective expertise in ASIC design and hardware engineering to produce a working X11 miner. There are several difficult phases to this. The first is producing ASIC chips that perform the X11 functionality correctly. For this they chose to use 152nm as it was dirt cheap and would serve as proof of concept. Allow me to show you some chips:
2jaykc3.jpg


The next step is to get these chips actually working in a box connected to a pool and producing hashes. Let me tell you from first hand experience that this is almost as hard as the first step. They had the good luck to be able to borrow concepts from previous ASIC manufacturers. The miner they produced has 4 "blades", each of which has 8 mini boards, each of which has 6 chips. A total of 192 chips are in the box. It looks like this:

2u3y4cy.jpg


The miner is controlled by a simple PI and has a very simple layout:

2ykfl2d.jpg


We booted the sucker up and it connected to coinmine.pl quickly and easily. The hashing peaked at about 420 Mh/s before we powered down. I was able to see the custom software that monitored and controlled the unit. It's an engineer's wet dream. The miner can be over/under clocked to gain efficiency or push it.

I'll post more later, but I wanted to at least get this post up. Bottom line? What does this mean? There are going to be 50 of these suckers available very soon. Should you buy them? That depends on who you are and what you want to accomplish. For existing GPU miners, it would seem a no-brainer. This is the future, you might as well embrace it and sell your GPUs, or use them for some other bitclone. These miners are the prototype using relatively inefficient chips. That being said, they blow away the current GPU options. In a year (crystal ball time here on my part) there will be more efficient units. At the present time, these units will return your investment and it might be a way to buy DASH cheaply. You pay your electric utility for power every month (700 watts) and you get DASH in your wallet.

Final point, are these guys scamming? Not a chance. If they sell these 50 miners, they get $100,000. That doesn't begin to cover the cost of getting this prototype up and running and distributed. They are in this for the long haul because they see the potential of DASH.

Now, I'm ready for questions...
 
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If they all will be bought by some people I hope they will not join the coinmine.pl
We need to have the hash spreaded so single mining would be cool.
 
oaxaca,
Thanks a lot for taking the time to meet with the iBeLink team to vet their claims. X11 ASICs are real. The implication is DASH is being taken seriously (NOT an altcoin as Camosoul would scold us for saying but) as a real currency that can stand on its own. This is just the news I wanted to hear.

I would so love to solo mine with about a dozen of these in my garage. Alas, you are correct. My wife was very accommodative when I was 'mining Darkcoin with GPUs' in 2014, but today, she would be extremely pissed off.
 
Tks for this detailed report.

50, is few I think they will be sold very quickly, did we know how they'll make the sell? On a website? First in first out?
 
Ghost said it was already sold out but I didn't confirm this.
 
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