Member Info for BobsSocks

And there you have it. Having made what at face value was a contribution to the discussion about QBT Jambone reverts to type with one last post in this thread and then crawls off into another thread to continue his blither.

Thank you to everyone else who contributed and also contributed to my understanding of some of the fundamentals. I would bookmark this thread as an oasis but no doubt it is being reported as I type. Unfortunately I have already passed on my opinion of the interpretation outside of it.

"I may be wrong, or probably as this bb is so much cleverer than me."

Oh come on Plutuq,

https://quantumblockchaintechnologies.co.uk/

Method B, one on one, mines 2.6 times more than Brute Force. Pitch 26 Brute force machines against 10 QBT machines each side will win the same number of coins. That's the end of the number story and yet, in my mind, Gardin and his mentors have deliberately pitched the numbers in this way to mislead their investors. The guy is meant to be a theoretical physicist with 30 years of teaching experience. He should know how statistics work but, for some reason, he is not in Feynman's league.

https://www.goodreads.com/quotes/649893-you-know-the-most-amazing-thing-happened-to-me-tonight

“You know, the most amazing thing happened to me tonight... I saw a car with the license plate ARW 357. Can you imagine? Of all the millions of license plates in the state, what was the chance that I would see that particular one tonight? Amazing!”

Just in case. The quote supposedly forms part of the Feynman Lectures on Physics.

https://en.wikipedia.org/wiki/The_Feynman_Lectures_on_Physics

"The Feynman Lectures on Physics is a physics textbook based on some lectures by Richard Feynman, a Nobel laureate who has sometimes been called *The Great Explainer*"

"So I think miners will want to strike some kind of exclusivity deal - if they do believe in it."

Yes. That is the point of my arguing that 2.6 results in an estimate of holding 10/26 or 38% of the total mining power to achieve parity with the remainder. It is only then that QBT machines will score 50% of the available coins.

Oh. Special mention for Jambone. Thanks for contributing.

"So how many miners companies/pool miners are there in the world ?"

I've *estimated* that previously.

https://ycharts.com/indicators/bitcoin_network_hash_rate

https://m.bitmain.com/zh/product/detail?pid=00020231025110633223f8vE5pxQ06AB

459.44M TH/s / 190 TH/s = 2,418,105 mining rigs.

Of course not all of the machines are T21 but it is a number from which you can validly try to estimate other stuff.

Thank you for the answers. I can accept that in as much as once one block is solved then the next is immediately released and work begins. Unfortunately I do not believe this changes the optics by much. The average is still quoted as being 10 minutes Once again you need to think statistically. Also thanks for pointing out that my 100m analogy was rubbish, most analogies are.

To me it still boils down to FG stating the energy saving is not the companies primary goal and admitting that only a 5% saving might be possible. Again it is down to fudging the stats around the 2.6 figure based on a one on one competition when in real life it will be one on many. Again you only get close to that 2.6 improvement in the limit as QBT driven machines approach 38% of the total pool.

Realise that mining is constrained to 10 minute windows. Once you have mined a block you can switch all of your rigs off. In fact everyone can switch their rigs off. As FG says. It's a 100m sprint. Once you have won it you don't go off on a marathon as a victory lap. Fine. Supposedly you get 2.6 times as many coins running Method B but you only save 5% of your power.

Stupid question but can anyone else point out the flaw in this reasoning one way or the other? Personally I think you will find that once again it comes down to the misleading presentation of 2.6 times as a headline figure in a one on one match which gets totally trashed when you are one on many.

Please. Sensible and to the point of the topic answers only. Sigh, like as if that is going to happen.

Or they could give up on the Noddy's Guide to Bitcoin and RNS a meaningful and major contract with a significant mining partner.

"Wasn’t a normal Dollar symbol though was it Bob, I’m sure Quant will update on what it was, American keyboard wasn’t it, what time is it now Bob?"

Well there you go Mr Slime. If Mr Other Slime did not see a Normal Dollar Symbol like this one, $, then his computer must be running some sort of foreign johnny software on his computer. Oh Noes. You mean you can't see a Normal Dollar Symbol either. Are you some sort of foreign johnny as well?

There you go. You've just admitted it.

So QBT had to borrow mining rigs off of the people who operate them. FG has said as much and moaned about Bitmain not telling QBT, the company that wants to keep their own secrets secret, about all the Bitmain secrets.

https://www.asicminervalue.com/manufacturers

Assume that these companies produce solutions that all operate on the same principles but compete on other metrics. They all ultimately do the same thing but at any particular time one is more energy efficient or faster than the others and charges a higher price as a result. They might have better sales people or do better discounts and warranties. It's all pretty cutthroat.

QBT rocks up and says we can hack SHA256 and if you let us train our algorithms on your machines you can mine more efficiently.

What sort of idiot would not immediately think to themselves... "Hmmm. So you will use our machines to train your models and since all the machines operate on the same principles your model will work on all the machines so basically we will be helping our competitors to become better and creaming in profit from all of us so there is no purpose to you. You are just a want to be parasite."

That's my guess as to why no manufacturers have given QBT access to their manufactured product. Outside of Intel we've been told words to that effect by QBT themselves. It is also, as previously suggested, why the interest they will gain from miners to access their purchased product is doomed to failure. Why does QBT insist on a free ride in order to leech off the ecosystem?

What a pathetic piece of excrement you are. You get called. You try to twist out of it. You get called again. You revert to your baseless tirade of pointless accusations.

I think I will leave you and your chums to squirm about in your own slimy cess pits for a while. Stay warm.

There are two threads running at the moment. This is a third that is necessary to combine the information presented.

Jambone: The URL is a LIE!: Today 19:32

Meaty Buys: Today 19:46

Jambone has deliberately responded to the first thread in the second one repeating his lies in order to avoid others reading the original almost as predicted.

"When called you will just publish the lie again. Assuming you don't crawl off to lick your wounds and come up with some new manipulation of the information that is available that's what's going to happen here isn't it.

Sorry Addi. This is just more wordy fluff from you. The RNS says.

"We are extremely pleased to have completed this £2 million fundraise, as we *believe* it will fund the Company through to revenue."

You do not lie via RNS for fear of getting disqualified as a director and your company getting booted off of the markets. VOX markets published misinformation. Jambone used that misinformation to support his incorrect point of view.

It's misleading.

If you invested on the basis of that interpretation then you are the fool. If you wish to qualify that information in a FG is a nice chap and wanted to say that then you are being misleading as well.

Https://www.voxmarkets.co.uk/articles/francesco-gardin-of-quantum-blockchain-2-million-fundraise-will-fund-the-company-through-to-revenue-211c4da/

as is the title...

"Francesco Gardin of Quantum Blockchain: £2 million raised will fund the Company through to revenue 10:37, 30th October 2023"

At no point in the interview does FG make any reference to moving towards revenue. The only words linked to from the above page that give this are from the QBT RNS when FG is quoted as saying,

"We are extremely pleased to have completed this £2 million fundraise, as we **believe** it will fund the Company through to revenue."

This is the level of rubbish we have to put up with from you day in and day out. Literally everything informational that you produce is carefully corrupted without the invitation to decide otherwise in support of your twisted version of the facts.

When called you will just publish the lie again. Assuming you don't crawl off to lick your wounds and come up with some new manipulation of the information that is available that's what's going to happen here isn't it.

And here's another one.

Apparently there is the possibility that QBT will be gathering training data for *their* LBM models from *other* people's mining rigs. Remember QBT are the people who moaned about everyone else keeping their secrets whilst insisting that they have to protect their own pixie dust.

Seriously? I can just see the state of the advanced communications.

Mr Miner: "So you want to use my hardware to train your models?"

Mr QGT: "Si. Then you maka da BitCoin faster."

Mr Miner: "What do you do with that data?"

Mr QGT: "We sell it to everyone else so they can maka da Bitcoin faster."

Mr Miner: "See that?"

Mr QBT: "?Itsa the Door?"

Mr Miner: "Well done. You're on the wrong side of it."

Https://quantumblockchaintechnologies.co.uk/products-services

"Method A will be available as a SaaS (Software as a Service) client-server cloud application by uploading an upgrade to the mining rigs' firmware. The QBT server, where the Method A engine runs, receives data from the mining rig, the client, responding with parameters at the beginning of each new block computation, to reduce the number of computations required to find a winning hash."

"Method B will be available as a SaaS (Software as a Service) client-server cloud application via a module upgrade to uploading an upgrade to the mining rigs' firmware. The QBT server, where the Method B engine runs, receives data from the mining rig, the client, and responding with a search parameter, which increases the probability of finding a winning hash."

The only apparent difference is one uses LBM A and the other uses LBM B (LBM = Large Bitcoin Model)

These are AI models and are subject to training over time from historical data. The suggestion that these models will receive such data from the mining rigs themselves is a bit of a red herring. That might almost be the case overall but the miners will have just received the next block, one every 10 minutes, and will be off and running on it. The AI model can and only will report its last best guess as to where to search.

It also lays a lie to the suggestion that these models need to reside close to the miners. They will have 10 minutes to work out their next guess. Given QBT is providing the communications firmware they just have to make the guess in 9 minutes and 30 Seconds timestamp the guess and deliver it to the client miners and give them permission to all go at the same time. This is entirely within their control.

Your only other option at the extreme level of stupid would be that QBT are implementing an LBM for each and every client miner which might make sense if there is some inherent lack of determinism in the miner itself such that it needs to be tuned to its own specific LLM. The stupid there is that QBT now have to match hardware unit for unit with the number of clients they will be supporting.

Bitfarm just bought an extra 22K miners with an option of 18K. Riot just bought an extra 65K miners. That's $250 million of kit. QBT will never match that.

Furthermore it doesn't work because the whole idea is that this is meant to save energy. What's the point of halving the miner energy per coin if you have to double the amount of hardware working on the mining? You are just back to square one. The level of fail is monumental.

As things turn out the company is doing what I have suggested. Life would be much simpler if people with nothing to say beyond continually posting conspiracy theories or suggesting we all do the same kind of secret research that only they are capable of and linked to something that might just make sense to others.

Again Thank You @Jez

https://quantumblockchaintechnologies.co.uk/products-services

Methods A and B are Machine Learning models (AI) hosted on QBT servers which predict the best areas for search. Firmware is loaded to the mining rigs to link them to those servers and allow secure communications for those predictions.

Then we get the Smelly Tosh about Selected Partners and special invite via info@quantumblockchaintechnologies.co.uk Seriously if they can do what they claim on the tin the lid should have been ripped off of it by now if you were to rely on the made up interpretations vomited by the likes of Jambone.

The lid is still firmly on and once again it is my view that this is the case because they have generated statistical predictions of a statistical process they are unable to test. Once again it is as simple as this. If, one on one, their solution makes the machine 2.6 times more likely to get the result first then in order to demonstrate simple parity with ROW they need to operate their method on 10/26 of the available Pool and do so over a significant period of time.

Who is going to punt 38% of the Farm on Them?

I will tell you this. The likelihood is that the Mine Owners are refusing to cooperate with QBT in order to enter Shangri-La because they are trying to get in at a lower price. Those who have already been refused passage are probably on this forum right now under multiple identities trying to sow discourse or are working in concert with the MM's to keep the price down. Given their likely compute power they probably also regularly DDOS the London Stock Exchange to prevent others from buying so the price rises as it should be doing or get buys to be listed as sells. Finally don't forget about the Venusian Mind Tractor Beams being directed at us from a Black Hole in another Galaxy. I thought it was Martians at first but you can smell the Cheese in the air when they are operating.

Addi's quote in full.

""The need to adapt both Methods to a client-server architecture emerged from discussions with potential BTC mining clients/partners and their request for QBT source code to be installed on their mining rigs to be inspected for security and other technical reasons. QBT, however, is not prepared to share the source code of its Methods with any third party. The Company has therefore made its Methods available in the form of a SaaS platform to enable the core of the Methods to be installed on a QBT protected server and accessed by potential BTC mining clients and partners to allow them to undertake evaluation of the Methods and this was the substance of yesterday’s X announcement."

This to me goes back to the suggestion that "Core of the Methods" are the AI Large Bitcoin Models, LBM's, running Methods A, B and C on QBT *servers* thus protecting their IP to predict starting points for Miners to download to their machines as *clients*. The software on the clients need be no more than a communications interface back to the QBT servers to request and receive those guesses with a means of reporting back success.

Assuming this is correct then to put it quite simply QBT have made a pigs ear of explaining what they think they are doing and deserve to be slated for it. Elsewhere their rambling burble seems to say they already have a functioning prototype if not an actual production model of this architecture so setting it up is how long does it buy the kit, stick it in the racks, plug it in and load the software.

My wet finger, I know nothing about data centres, would be two months tops. If things were not so precious to them they could have bought AWS/AZURE/Google server space and be up and running in two weeks. Anything else is just faffing about or they have no idea what they are doing.

So they rolled out Magic Grandpa about a month ago and filmed him for an afternoon then slipped out edits of the best bits over the next month and this is good PR?

https://www.youtube.com/watch?v=Y4drNFXd6dw

... of cryptographic algorithms developed by The National Institute of Science and Technology."

https://twitter.com/qbtofficial256/status/1731946516879753222

Sorry Mr Gardin but according to Wikipedia and likely the rest of the intertubes,

https://en.wikipedia.org/wiki/SHA-2

They were developed by the NSA and adopted by NIST as recommended standards for use in industry. Otherwise, once again, we have a soundbite video that tells people nothing about QBT and the lack of message is in itself flawed.

Why bother trying to show off your intellectual prowess when all that happens is that you end up eating pavement?

I must admit I have never properly delved into mechanics of Bid, Offer and Spread but now this has been pointed out to me it becomes so obvious I can't believe no-one else has spotted it.

OK. This might be a bit hard for some of you so I'll try to explain it. Feel free to correct me if I get anything wrong.

As the mid price goes up, or down, the Bid and Offer move equally either side of it in the same direction.

See That! I mean like See That!1!

It's amazing. We've been doing it all wrong.