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QBT began around 3 years ago, there are 3 approaches the company has set out.
1. Short -To produce the fastest BTC mining software available. This was originally set out to work on the new up and coming Intel Blockscale chips, but Intel changed direction and withdrew their chips before QBT had released results, this set QBT back as it had to then rewrite the software to run in the Chinese rigs, also where as Intel helped QBT and told them where to install on chips the Chinese manufacturers would not help so QBT spent 6-9months reverse engineering these chips to know how to alter to port onto these machines, we have been told via interview 2 weeks ago they believe the reverse engineering is sorted so posting is the task in hand now. Software is completed for this as per the September update. What of the Intel chips, Jack Dorsey bought the inventory and is making his own miners due to be released early this year, are we involved as 160% increase and the fact QBT knows exactly where to instal, NDA’S in place, we don’t know who with so make your own minds up on that one….
IP protection, we have put in for a patent which is currently in no man’s land due wether it’s a software patentable, the solution has been to go SaaS which allows the miners to talk to QBT servers which in turn keeps the IP safe. This has taken time also
So far the company has developed 2 products for this, method A) 10% improvement in probability of mining a BTC block
Method B) 160% 2.6x improvement in probability of mining a BTC block. This has been described as on a standard miner you mine 5BTC blocks, same machine with QBT software you mine 13BTC blocks, this is a huge 160% improvement. Nobody thought this would be possible and QBT are currently **performing intensive live mining tests 24/7 using ASIC-based Bitcoin mining devices connected to two large mining pools.**
**All of the large North American and Chinese Bitcoin mining and chip manufacturing companies with whom QBT has engaged, are waiting for the results of our live tests, in particular with Method A and B, using currently available commercial mining rigs.**
FG said next news would be method B works and that was 2 weeks ago but all miners/chip manufacturers are looking for these results to proceed forwards.
2. To produce chips. This is what method C is about, how far are we going into this? Well it looks like QBT have found a pre calculation which can save upto 30% of the time used to search for the next block, a prototype chip is going to be produced at around a cost of £200k, 10% of £2m he said, proof it works to chip manufacturers will have them all needing the chip to remain competitive in the miner manufacturing market. That will be huge imho
3. Quantum computing, we already have the software/product for this FG has said, well respected Dr lov Grover helped with this. We will keep the golden goose
'FG said next news would be method B works and that was 2 weeks ago'
It was actually 7 weeks ago and FG has still not confirmed that Method B works. Wonder why not.
Thanks Brew, I went to type 2 months ago, but it’s not there yet so changed it.
But yes 7 weeks ago since we were told lawyers were passing documents and terms, 7 weeks ago since FG said he believed revers engineering was sorted so in this Time you would think Porting was starting
Wonder if, 7 weeks later, FG knows for sure if reverse engineering is sorted or does he still just believe it?
As for lawyers exchanging terms, do you believe they have signed deals with miners taking into account they have no commercial product, couldn't put a time frame on when they will have one and stated clearly in the PRN that they were not negotiating with anyone yet?
I don't. To my mind it was clear he was referring to the Sep 2023 NDAs
Well they are determined with the porting so it would highly suggest all is well with the live testing as why port if that’s no working as expected.
BTC looks like going to move up just over 58000 now
BTC moving to break 59000, let’s see if this breaks 1.05 once this starts moving it will move quick, so far been good for trading
Some buys are showing as sells, Halifax giving me buy at 1.012
BTC broke 59000 looking very strong now, little news here and this will fly
Don’t panic surely we want BTC price low then mining is less viable so partners need our products if they can get them to work? Confused as to how BTC price has on our price long term as it hasn’t so far except intra day spikes. Even the rampers say we should be at 5p when the price is high so I don’t see the correlation. I would rather a porting update and evidence the tech works then BTC hit $100k.