Sunday, 17 June 2012

About BFL's ASIC announcement


BFL's ASIC hardware will probably be three times the price and 300% lower specs when there finally released in twelve months.  BFL are just offering the trade in option to suck more buyers in for there FPGA's.  We have been buying Sparten6 hardware not BFL and as for upgrading to ASIC's were probably going to wait for OpenBitASIC - (https://bitcointalk.org/index.php?topic=76351.0) - as it's opensource-hardware therefore should be much cheaper than BFL's ASIC's.  We will continue buying more FPGA's for now probably the ModMiner >1GH/s@50W (with the new ET bitstream) for $1069.  If BFL-Single shipping lead time improves drastically then we may purchase them.  RSM is different then the mining bonds on offer.  We do not offer a bond you buy an actual share in the company, a share in all the hardware we own and a share of all profits.
I don't think ASIC's will be on the market for twelve months yet and I expect FPGA's to be profitable for over two years to come yet at least.  Once ASIC hardware is available for pre-order we will be moving into ASIC hardware but only very slowly and very carefully.  As I expect after the initial release of ASIC hardware I expect there prices to drop drastically and there hardware spec's to improve dramatically.  Also all the FPGA hardware we are buying has quite a high resale price as it can be reprogrammed for other uses.  The ASIC hardware being produced will probably have a very low resale price and even the slightest change to the bitcoin protocol will make them obsolete.  That is why we are thinking of going into opensource-hardware due to the logic its production costs will be a race to the bottom and therefore in the long term more major adoption.  So then less chance of them being made obsolete.