Member Info for fleccy

"Why would FG update on the 30% increase, this was about another string to the bow, perhaps he Should also of updates on the court case win, or the patents all in one RNS, or spread it over several for maximum gains, I know what I would do"

Are you saying he puts things out in dribs and drabs to pump the stock as much as possible?

Things like the court case are irrelevant, the most important factor is building a revenue stream large enough to cover operating costs, turn a profit, and reduce debt. Even the most enthusiastic posters, on here, must realise that earnings will decide the eventual outcome for the company. Earlier posts mentioned the remaining Bitcoins to be mined and much will depend on the success of the Algorithms, the price of Bitcoin/Altcoins and whether miners decide to use the Algorithm, or even if it'll be compatible with the newer ASIC rigs. Lots of if's, but's and maybe's, but to read many of the posts on here you'd think it's a sure thing, which it isn't.
I see Bitcoin's on the way down again, it's because you can't indefinitely reinflate something that's punctured. Bitcoin may go up and down a bit over the next year or two, but in my opinion it'll eventually deflate more rapidly as even the most committed believers lose faith. What I said about the miners wont matter if the Bitcoin price does drop from here, since the miners wont be able to operate at a loss for too long; I believe the current break even price for the most efficient Bitcoin miners is around $7000 to $9000 a Bitcoin, which is ok for now but once the Halving occurs, next year, the break even price will double to around $16000 on average, dependent on electricity and other costs. If Bitcoin drops below $12,000, it'll probably signal the end. We've still got the Genesis/Gemini/DCG fiasco to play out, and there's no way DCG's subsidiary Grayscale will get their spot ETF, so the odds are currently against Bitcoin with lots of drama, to damage sentiment, in the pipeline.

As for posting on here, the more people insult me, or tell me to stop posting, the more I'm inclined to speak my mind. It isn't about disrupting, it's about expressing an opinion irrespective of what others say.

"Yep I agree, you are wrong feccy no need to change anything apart from the software for the initial mining deal with 30% efficiency improvement hence this is a very positive move"

November 2021
"Meanwhile an AI accelerator will be tested within the next three months, which we believe could radically improve the performance of existing commercial miners, as well as our GPU, FPGA and, in the near future, our AISC chip"

Mon, 23rd May 2022 07:00
"More importantly, the Company expects to shortly commence real Bitcoin mining using Method ‘A’, performed on the latest generation of GPU and FPGA"
"The second knowledge-based mining approach (Method ‘B’) will need the availability of a proprietary ASIC chip which, if successful, probabilistic mining could be improved by several factors compared to today’s deterministic BTC mining using commercial ASIC chips."

Going off the above, it's like they're saying Method B would need a proprietary ASIC chip and doesn't mention the AI accelerator mentioned in November 2021 update.

15th Nov 2022
"Preliminary results of Machine Learning Method “B” indicating 30% improvement over commercially available ASIC chip-based miners,"

They go on to say:
"That is, regardless of the performance of the ASIC chip used by the miner, the Company's proprietary software could statistically still increase mining speeds by up to 30%, whilst not impacting the miner’s power consumption.
Provided that the performance of the Method “A” and / or Method “B” algorithms are confirmed, the goal is to run them on existing commercial miners to improve their performance, as stated above, by replacing the native control software with QBT’s own control software."

Which suggests that Method A and Method B are software accelerators, sort of contradicting previous statements.

"The computational requirements to validate both Method A and Method B by testing at the current level of difficulty of BTC extraction are very challenging. The Company has not ruled out the use of a supercomputer for such tests, but a more pragmatic approach in the short term is based on the use of existing market-available ASIC miners."

In the latest update, why did they only talk about Altcoins with no progress update on the result of the Method A/B testing mentioned in the November update? You'd think they'd be offering the software commercially by now; Maybe there'll be something substantive in the November 2023 update, I wait in anticipation.
In truth, I'll believe it when I see it, the people involved in this venture may be very clever, but they're up against industry Giants with very deep pockets, David rarely beats Goliath.

"Yeah, you’re wrong"

Can you do me a favour and explain what's confusing me then? Because the language in the updates is difficult to unpick.
Which method gives the best results, Method A, Method B, or the "alternative solution"?

Maybe people on here can answer some questions for me. As I've previously stated, I'm not invested here and highly sceptical of Crypto Currencies, but my interest is growing in the subject.

I've picked out some key points, from the R&D Updates:

Fri, 5th Nov 2021 07:00
"Architecture design work for ASIC prototype to commence before year end
Testing will commence on the final design of the more expensive / faster ASIC prototype chip by end of Q1 2022
Ultimate goal is to produce an enhanced 7 nanometers (nm) ASIC chip
Early internal calculations show a final chip that could perform 24% quicker than current best available ASIC"

Mon, 23rd May 2022 07:00
"The Company is pleased to report that this development has led to the first two knowledge-based algorithms"
"(Method ‘A’ and Method ‘B’) have a “probabilistic element” approach, which over time, represents a “deterministic superiority”. During testing, Method ‘A’ has improved the performance in speed and energy consumption significantly compared to existing crypto mining hardware"
"The second knowledge-based mining approach (Method ‘B’) will need the availability of a proprietary ASIC chip which, if successful, probabilistic mining could be improved by several factors compared to today’s deterministic BTC mining using commercial ASIC chips."

15 November 2022
"Preliminary results of Machine Learning Method “B” indicating 30% improvement over commercially available ASIC chip-based miners,"
"The Company has already acquired a number of ASIC miners with the intention that the control software on the ASIC miners will be replaced by QBT’s own proprietary software, based on Method B."

From the May 2022 update, they said Method B "will need the availability of a proprietary ASIC chip" and in the November 2022 update they said, "Preliminary results of Machine Learning Method “B” indicating 30% improvement over commercially available ASIC chip-based miners".

It appears the two best ASIC's currently available is the Bitmain's Antminer S19 Pro with a hash rate of 110 TH/s, consuming with energy efficiency of 30 J/TH. Intel Blockscale seems to have won the crown for energy efficiency and scalability with a "hash rate of up to 580 gigahash per second (or 0.58 terahash per second, TH/s), consuming between 4.8 to 22.7 watts of power". "Theoretically, a mining unit composed of 256 Blockscale chips would have a total hash rate of 148.5 TH/s and consume between 1,228 to 5,811 watts of power at around the same energy efficiency."

From what I've read, both HIVE and ARGO will use the new Intel Blockscale ASICS.

https://cointelegraph.com/news/intel-launches-new-bitcoin-mining-chip-blockscale

Questions:
I'm a bit confused, some posters have suggested that QBT will be able to just run an algorithm on an an existing Rig, but from what I've read QBT will have to install/modify the hardware with their own ASIC's, am I wrong in thinking that?
Will Intel's Blockscale ASIC affect QBT's busi

"Mr £4994,00 has just bought another 3 tranches, is this an institution buying in or a big player?"

If a big player was going to invest, they'd hardly buy using petty cash. It isn't necessarily the same person buying and selling, it could be a broker pooling customers and buying/selling in tranches.

"Obelix- i think you will soon have your own Rolls Royce"

He'll probably be able to afford this one

https://www.prewarcar.com/afterand-before-rolls-royce-drama#group-3

"Next stage is to have a chat with Claire about you and have you removed from the site all together."

It isn't like I'm the one putting out wrong information, the heading on this thread is wrong and misleading, do what you must.

Yep a PR Newswire release, not an RNS.

I was just correcting your mistake, there's currently no RNS out for this. Nuff said.

If I've worked it out correctly it's just under 1% ,approximately 0.942% increase, so its anyone's guess whether they'll issue an RNS.

"No rns"

If it's a full 1% increase, I expect an RNS will be in the pipeline. If it's just under 1%, maybe not.

https://www.telcotitans.com/btwatch/bt-to-take-5g-network-in-a-box-to-market/6057.article

I've pretty much said everything I wanted to say for now, but I reserve the right to state my opinion as and when I choose. If and when I do have something to say, I'll post without insulting anyone and state the reason for my view, I doubt you and the others policing the narrative on here will agree with what I have to say, but some of the silent viewers may.

"I've been on tenderhooks, ending in dirty looks
Listening to the Muzak, thinking 'bout this 'n' that
She said, "That's that, I don't wanna chitter-chat"
Turn it down a little bit or turn it down flat
Pump it up, when you don't really need it
Pump it up, until you can feel it"

https://www.youtube.com/watch?v=3Y71iDvCYXA

"Under report, one of the tabs is disruptive, report him for this, he has no intention of buying QBT just disrupting."

Which post is that Jambone? I only post on here when I have something to add, the fact that it doesn't conform to the constant pumping narrative churned out in post after post, by some, isn't my fault. I would suggest continually pumping a stock and saying things like this will be in the £'s soon and a patent/RNS is due any day without any proof is purely speculative. People encouraging others to dive in may not be disruptive, but it could financially damage someone if they invest and the price reverses, leaving them locked in. Why is it ok to continually pump the stock, but it isn't ok to take a contrarian view?

"You are a disrupter as has been pointed out by others, you need to be reported and removed"

Are you saying I'm not entitled to an opinion, if it doesn't agree with your views.
Hmmmm, so someone can serial ramp a stock and be praised for it, but anyone presenting an opposing view should be banned, is that what you're saying?

"Flakey, why are you not peddling your dross on any of the BTC miners like ARB?"

Don't blame me. Ok I posted the pump it YouTube links, as a joke, but everything else was in response to other posters, starting with PAS:

"PAS14
Posts: 839
Price: 2.15
No Opinion

RE: 3.5p targetToday 17:31
BTC's Doomed ... doomed i say ... listen to Fleccy .... he's been saying it for 15 years now !!
He said the same about the internet .... its doomed ... web 3 , metaverse, De-fi, you name it ....all doomed ! ;-)))"

"Fleecy BTC, your post how do you see BTC!! My answer to you was up:) Hope you got in when I said it would go up :) Instead of Bashing."

It isn't about short term movements, or trading, it's about the underlying long term value; I bet people were encouraged to jump in when Bitcoin was over $66,000 and stayed in as it dropped, because they believed other's saying don't worry it'll go back up; Of course vested interest locked in investors will encourage the unwary to bail them out, by investing in an "asset" they're underwater in.

"Not really my style to block folk as I very much believe in freedom of speech , however fleabag or whatever his name is really is a special case . Comes on a BB about a company involved in a Technology he clearly doesn’t believe in ( understand) then try’s to convince everyone else there wrong about the underlying tech ….. absolutely priceless"

Instead of Blocking me, why don't you meet on the Bitcoin chat forum and you can put me right, assuming you can discredit anything I've said. I didn't make up the narratives pushed to hype Crypto, I only repeated stuff I've heard over the years. In my opinion, anyone buying into Bitcoin now will be feathering the nests of all the traders running Bitcoin YouTube channels and if the price goes up on the back of new purchasers, or believers, then they're just bailing out the Whales somewhere down the road.
YouTube is full of Michael Saylor video's, he's there because he's bet the bank on Bitcoin, with MicroStrategy currently sitting on a Bitcoin loss of around $1.2 Billion.

https://www.lse.co.uk/crypto/bitcoin/chat.html

"TC's Doomed ... doomed i say ... listen to Fleccy .... he's been saying it for 15 years now !!"

Glad to see you're agreeing with me!!

If you listen to everything they say about Bitcoin, it defies belief that anyone actually believes the narratives. At best Bitcoin could be described as a Pyramid scheme and at worst a Ponzi scheme.
Bitcoin has all the makings of an illusory sleight of hand, designed to fool idiots. They say Bitcoin will always have value, due to the scarcity of the "asset", with only 21 Million possible, but they fail to mention that for every Bitcoin mined you get One Hundred Million Satoshi's; So there are currently 1.9 Quadrillion Satoshi's possible, with the maximum being 2.1 Quadrillion. If Bitcoin became more expensive again, they'd come up with a subdivision even lower maybe a 100 Billion per Bitcoin. Obviously the more expensive a Bitcoin becomes the more out of reach for the less wealthy, so demand would drop and subsequently the price, but break it down enough and even the poor can afford to get in on the hype raising the price of the token at all levels.

How people don't see the con is beyond me, it works like this:

Produce a bunch of Bitcoin, and tell everyone it'll take over the World
Sell the Bitcoin you produce and encourage the buyers to persuade their friends to buy in also
Build a huge marketing machine to push the product
Trash the Naysayers, whatever their long established credibility is
As the price goes up, don't worry, you can get in by purchasing Satoshi's
Don't worry about the price going down, it moves in 4 year cycles
SBF, FTX, and others were bad actors, once they're flushed out all will be sweet
Don't worry about the hacks, frauds, lost coins, etc, these things happen in all new industries, after all we've only been going for 13 years.
Once the "right sort of regulation" is in place, Bitcoin will soar, right?

Anyone with a vested interest will disagree with what I've just said, but all I've done is given examples of some of the rhetoric used to diminish fraudulent and other negative Crypto related events.
As for anyone who thinks spot ETF's and other light touch regulated products will be allowed, I very much doubt it. The regulatory authorities are still feeling the effects of being burned, by pre-2008 products like CDO's and other specialised derivatives; They wouldn't risk anything that might lead to contagion in the vanilla financial system.

2023/24 will test Bitcoin to the limit. Will it survive the next Halving if the price drops? Maybe, maybe not.

The extended mix would have probably been more appropriate.