Roundtable Discussion; The Future of Mineral Sands. Watch the video here.
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So will QBT be supplying a new chip or a firmware upgrade?
'The Company strongly believes that when compared with the best commercial 7nm ASIC chip
for Bitcoin mining available on the market today, an industrial production of QBT’s ASIC at 7nm, would
indicate a double hash rate of 1.19TH/s, hence 24% faster.
This performance of QBT’s architecture on the 7nm ASIC, doesn’t yet include the 7% efficiency
achieved by the optimisation of the patent application filed in September, which is still to be
implemented.
The current work on a second patent by the Company’s cryptography expert will hopefully
lead to further material optimisations.'
' ASIC programming will start this month, and we estimate that by the end of Q1 2022 we will be able to
announce when the first batch of prototype chips will be available for in-house testing.'
https://quantumblockchaintechnologies.co.uk/images/Update_on_FPGA_and_ASIC.pdf
So develop and produce QBT chips with ASIC UltraBoost tech adding further optimizations if implimented.
All very techy, I need a lye down after reading that again lol
Thanks DS, what you have highlighted is that Bitmain already provide firmware upgrades for the antminers to improve efficiency.
So will QBT be supplying a new chip or a firmware upgrade? Slightly confused now, I was under the impression QBT would be producing (hopefully with a manufacturing partner) a new Asic chip for their own machines.
If an upgrade to firmware for the likes of bitmain, will this further improve any firmware provided by bitmain, or will the QBT upgrade be diluted?
Right, interesting start to the day. What I did not get to do the other day is being prepped right now. Hold my beer .GLA
I can see QBT selling the ASIC UltraBoost for use under licence if the patent and the optimizations are confirmed in due course.
There are A LOT of ASIC's out there and there will be tens of thousands of new rigs added each and every every month that could be upgraded to ASIC UltraBoost Firmware and possibly supported by a new QBT mining pool...
This video from 2018 shows how easily the AsicBoost firmware was implemented.;
Upgrade Antminer S9 Miner Firmware to ASIC Boost - Bitcoin Mining
https://youtu.be/cpulQjjGhOc
If QBT charged $100 per firmware upgrade per rig to either keep the rig profitable or make it 7% more profitable that would be A LOT of $$$$$$$$'s
Good video worth the watch imo
Early Days Here ;-)
Patent, sorry
DSF, how long does to have the license?
Pictland,
SOURCE: RNS Sept 21.
QBT CEO: with “Many more optimisations patents to be announced”
Defining “many more patents” knowing already 2xASIC patents could be translated as 2+++ I assume 8 patents to include ASIC/ FPGA chips with most common BTC and ETC ccy algorithms, UK and International patents, that is 8 patents. Could be more as prices of others surge.
ASIC x 4 Patent filings
2_ASIC ULTRABOOST UK + an International Patent for Algorithm BTC Sha256d
2_ASIC ULTRABOOST. UK + an International Patent for Algorithm ETHhash
PLUS
FPGA x 4 Patent filings
2_ FPGA _”NAME”. UK + an International Patent for _Algorithm BTC Sha256d TBD
2_ FPGA_ “NAME” UK + an International Patent for algorithm ETHHash - TBD
=8 optimisation patents.
Will Algorithm ETHHash: optimisation, be next mining patent to be revealed? TBD
Patent2- an International patent to be filed in December.
Cipher Mining
New BTC mining company
They don't hold any BTC and expect rigs to be delivered from June 2022
They have a hosting agreement in place
MCAP $2.2 Billion
Not saying QBT will do the same but in this space and with an ASIC UltraBoost patent literally anything could happen
Thanks FigTree.
Ip - PATENT
Worth saying also, intellectual property is protected from the moment you file a patent, ie, you don't have to wait until it's granted to benefit from protection against IP infringement. Upon filing, the status of your patent application is known as "patent pending" and your product is protected. Once patent pending expires, assuming a full patent hasn't been granted yet, you either have to renew the application, or you lose patent pending status along with the protection that goes with it.
This is how patents work.
We all know this.
Huge buying pressure now
Yeah Suthy, but the gold market is worth billions. That doesn't mean every gold prospector is a sure thing. Also, the ARB value rocketed because they mine crypto's and stated how many BTC they were mining as the BTC value was increasing. QBT don't mine anything.
Seeing a lot of buying going through now..
The comparison is still quite relevant as it shows what a new innovative company in the Crytpo world can achieve in terms of growth potential. Both companies might do different things but both are in the same space which is worth billions!!!! and growing !!!!
Discussed already, pat pending protects the IP that QBT develops. Next.
Keep seeing mention of ARB. Unless anything has suddenly changed here, we still don't mine any crypto's, so the comparison to ARB is pointless.
Anyone know if and when the patent application is likely to succeed? I thought it takes close to 2 years to push a patent through. Also, how are QBT likely to take it to market? Do we have any expertise in the commercial side?
Spot on keep the focus.
Once news drops it wont stick around this level.
All paper fluctuations here, watching the despertae uninvested.
What day was last news?
Just a reminder that I bought ARB at 5.65p
It dropped to 3p
Then went to £3
You can be early and it can be a bumpy ride...
But if you're right and lady luck is smiling upon you the dips don't matter
If you're wrong at least you had the minerals to take that chance
imo wtfdik etc
Absolutely its an improvement, however it's only a stop gap / future add on to the latest developments in Quantum processing, that can run 60,000 faster than other super computers.
Hopefully that stop gap will be taken with QBT's ASIC UltraBoost, before there is a huge push for the ZuChongzhi chip.
Keep your focus
The ASIC UltraBoost can be described as an improvement of the Bitcoin mining
process (building on all other existing optimisations in the market, including
ASIC Boost)
A nearly 7% efficiency in running the Bitcoin mining algorithm can be used to
increase mining speed or save energy.
https://www.bloomberg.com/press-releases/2021-09-30/quantum-blockchain-technologies-plc-asic-ultraboost-patent-application
Add in some other chip optimizations and mining
BOOM
imo dyor etc
ASIC UltraBoost patent filed should mean QBT holders are one RNS away from a new partner, investor or buyer.
IF the patent stands up to scrutiny I see no reason why one of the BIG BTC players wouldn't want in.
Billions being spent on rigs and mining ops right now and that presumably will only increase in the years ahead.
Does the new patent infringe on the existing AsicBoost patent ? who knows but if it doesn't and it works then someone will want the ip.
If the ip isn't for sale then the company must become a HT target
My plan is to sit tight, add on any big dips and see how it pans out
imo DYOR etc
I'm surprised your tea didn't come out of your ears..
There's clearly nothing between them :-)
Do one De Lackey, trust me you don't want me on the Argo board
Keep your focus
Any of the BIG guys want in on QBT's ASIC UltraBoost and other R & D tech and this goes interstellar
Bitfury is interesting...
Involved with Cipher Mining $2 Billion new mining company, no Bitcoin, no rigs until June 2022..
They are investing in AI and recently set up a new R & D department..
Looking to go PLC soon
Will QBT get a call from CEO Valery Vavilov ? Who knows but I made sure Valery knew about QBT's R & D
https://bitfury.com/
Well worth some digging around Bitfury's business and it's involvement with the AsicBoost...
You never know what could happen here but the ip could be worth a Kings Ransom
The ASIC UltraBoost patent is all this needs
The strawberry sauce will be the other chip developments and optimizations from our R & D
& Bitcoin mining will be the Cherry on the top
Can you smell that ??
What?
MONEY ;-)
Keep your focus
The ASIC UltraBoost can be described as an improvement of the Bitcoin mining
process (building on all other existing optimisations in the market, including
ASIC Boost)
A nearly 7% efficiency in running the Bitcoin mining algorithm can be used to
increase mining speed or save energy.
https://www.bloomberg.com/press-releases/2021-09-30/quantum-blockchain-technologies-plc-asic-ultraboost-patent-application
Add in some other chip optimizations and mining
BOOM