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News imminent apparently
Jambone
Posted in: QBT
Posts: 6,678
Price: 1.50
No Opinion
RE: News Next on deals with miners 30 Jun 2023 09:04
FG said the next news was to be deals with miners so……..
Vlad will have seen the miners by now or still seeing them so expecting an update on this any moment moving forwards
I thought everyone would have known that the way Jam spammed this board with that X video every single hour of the day for weeks telling all who would listen that a deal was imminent?
Another Jambonerism up in smoke.
QBT confirmed live testing was happening in an X video released in Jan 2024 that had been filmed at the latest in Dec 2023.
Chipofftheblock - this was my reading of the last RNS also.
I’m not sure they have them working on the Bitmain rig yet. FG admitted that the porting issues hadn’t yet been solved because of the reverse engineering required for the rig and the chip (not documented)
But he mentioned there were NDAs with Chinese and North American rig manufacturers. So my view is the current live testing is occurring on a North American manufactured mining device. QBT would already have all the details they needed about the chip to be able to port.
For the people asking if tests had been running since December, it was only in the March update that FG said QBT has figured out the OS integration with CGMiner. Therefore I think as soon s this occurred they had compatibility with the US manufacturers, rig, chip, and operating system therefore allowing them to move to live testing.
Once the porting issues have been solved on the Chinese rigs perhaps we’ll also see testing on there. If the US manufacturer is Block though then this would be brilliant news.
So working on the assumption they have a rig from Block (the ASIC mining device) and running tests on this since at least late Dec 2023 you would imagine that they would have had a good idea by FGs Mar 2024 interview if it worked or not.
Agreed that their messaging should be clearer in their news releases.
Admittedly the news releases are often confusing and it leaves people here arguing, I have told PR this in the past that they need to put clear bullet points on progress.
My view is that if they are testing the methods then they have them working either on bitmain or a prototype rig sent from block (MDK) or even that they have constructed their own prototype rig? Though reading about the MDK it appears to be open source and uses the intel chips x100 so if they got their hands on one they could well be using this with the methods installed and be achieving results on a rig that hasn't yet been developed but this would show Block what they can achieve and if the results are as good as previously published then Block would obviously take an interest in QBT
But no I dictation it was working? Hence why FG said that would be the next news
Is this not telling the market? From the last R&D update
In addition to the above, the development of Method B, as an extension to CGminer, a standard operating system used by almost all commercial mining rigs, has been particularly complex, given the intricacies of more than 50,000 lines of open-source C-code developed by the CGminer community. The key issues have been addressed and the Company is performing intensive live mining tests 24/7 using ASIC-based Bitcoin mining devices connected to two large mining pools.
I very much doubt they would have had Method B working on the live blockchain for months and have not told the market. It does not make sense. Neither does any involvement with Block but stranger things have happened.
On bitmain rigs, I assume that refers to
'what would block need to send staff over for?'
Because as per FG on 14/03/2024 Method B could not yet be confirmed as working as this would be the next news announced. So six months after your email QBT were unable to get Method B working, a team from Block would have helped.
Why would they need to? If QBT have already proved they can install these methods on a prototype rig sent over by block aka MDK hashboard, QBT who quoted they have been testing over two major mining pools 24/7 and have hundreds of pages of data from these test, what would block need to send staff over for?
I have been saying for many months that things could suddenly change or new news could be released upon the announcement that Block have released their new rigs, and that day in my opinion is very close indeed, my belief is that blocks rigs will be both faster and more efficient than the bitmain rigs, or why bother releasing it? They have been openly asking developers for their help on creating this new rig and I'm confident QBT would have answered their calling
Block have 12500 staff. QBT are claiming tech that will disrupt the entire Bitcoin market. You don't find it odd that they couldn't dedicate a small team to partner with QBT?
Even if there's no reality behind my theory that there have been communications between block and qbt, Block releasing a new rig soon offers QBT a new route to market which had been previously blocked by intel discontinuing their rigs and Bitmain reluctant to work with or allow the methods to be installed on their rigs.
Currently china dominate the market, America would do anything to better them and become the main supplier of mining rigs 👍
Because Block have been concentrating on the BITKEY project, now that's shipping they are back on with the rigs 👍
Why would Block not have thrown resource at this inhouse? 6 months later and QBT are still trying to prove their tech on the live blockchain. A small team of Block devs could have sorted out QBTs issues in a fraction of the time.
Just my opinion but it comes across as once again FG throwing a few crumbs out, completely without any proof, to create a narrative that has no bearing to the real world.
Yes no details in the email, however we know who bought the intel chips, and he states he can not discuss who because of confidentialities signed, we now know who bought the chips so not hard to put two and two together, it also says we are close to realising the performance of the rig, so perhaps block kindly sent a couple over for running tests?
My best guess would be that Block intend to use these rigs within their mining facilities, which wouldn't be included in the whole open source response some have been giving on here, using methods A and or B then an ideal scenario for you all would be that there have been discussions on the 3nm development using method C 🤔
So since Oct 2023 Block have now announced their own 3nm chip. Given that email what do you believe is QBTs involvement with Block?
October last year
Interesting but again, as with everything from QBT, hints at a wider picture without any detail.
What was the date of the email from QBT?
Just for you brew
https://twitter.com/SamsNaughtyBean/status/1783044010912686581?t=1EZ7T4IppzFTqXzbPPBThw&s=19
Suthy cheers for the book, we haven't had one of your predictions for a while, what was it, when live tests announced mm's would have no choice but to open the price at £1?
Dummies you say........
Chip- lol 😂.
QBT Proprietary ASIC chip
The Company has commenced development of a proprietary ASIC chip. A working prototype is about to undergo development which will confirm performance levels.
The Company has started a process to design and build a proprietary ASIC chip for Bitcoin mining. Initial chips will be designed in an established process node during the testing phase. The prototype will implement the proprietary optimised version of SHA-256, as per the Company’s two patent applications (i.e., ASIC UltraBoost and ASIC EnhanceBoost) as well as the new Method C. It is expected that a working prototype will confirm the architecture feasibility and performance of this new QBT proprietary intellectual property.
Once manufactured, the chips will not be used for industrial Bitcoin mining, instead they will be utilised as an affordable real-world proving ground for QBT’s disruptive Bitcoin mining technology. The Company believes that by creating its own chip it will be better situated to construct its new architecture from the ground up. The Company has decided to facilitate this development with a mature process node chip due to its lower manufacturing costs rather than for example, a market-leading 5nm prototype ASIC, which would cost nearly £2m
I believe there is a very tenuous link as QBT said there were no porting issues onto Intel chips (although they have not provided any proof of this) and Block buying up Intel inventory when they withdrew from the market back in Apr 2023.
As far as I am aware there has been no acknowledgement from either side that they are working, or even aware, of one another. QBT also stated that they were, in Mar 2024, still not actually at the stage of negotiating with anyone and would not be doing so until they proved their tech worked with live results, which are still pending.
Given all the above, and Blocks commitment to open source suggests there is zero collabaration currently between the two companies. Just my opinion, no doubt Jambone will use their usual childish misrepresentation to claim that I think QBT are conkers deep in Block.