The latest Investing Matters Podcast episode featuring financial educator and author Jared Dillian has been released. Listen here.
To build your own ASIC chips costs a good few million then you need to build miners and then host the miners at a site with electricity costs to add in, it’s an expensive game and especially now for the miners as rewards have halved.
The beauty of QBT model is we sell licence for software or a % of extra BTC mined depending on deal. This does not expose us to running costs, QBT costs will be kept down so rewards should be great. This is what makes QBT so exciting as all miners will be lost without QBT software due to the advertised gains of 160%
Hi Phimix
It’s to do with the large miners and mining pools, they run hundreds of thousands mining rigs to mine BTC blocks with, QBT have developed software but this needs to be installed on the mining rigs, this is known as porting.
The mining rigs are not like a computer where you can just install software/firmware, the newer machines are all locked and come with the manufacturers software installed.
The chips have had to be revers engineered to work out where inside the chip you place/target the software. They Chinese manufacturers are not helpful with this so this is why the chips have had to be reverse engineered to understand how they work, time consuming task which FG did say would take 6-9 months.
8 weeks ago FG said they believe ls the reverse engineering was complete, so now they have the task of sifting trough the data to trial where to instal and find the sweet spot.
That’s my interpretation of how it works
Look at the misinformation they try to post, it’s hilarious.
DYOR people, look at the RNS and media interviews, about to disrupt a trillion dollar business and no wonder you have these FOMO posts as they sell for some beer money at the end of the week.
All those other companies on AIM yet they are here, says it all.
This was 8 weeks ago
Francesco Gardin, CEO and Executive Chairman of Quantum Blockchain Technologies commented: “The exceptional lab results achieved with Method C represent further evidence that QBT’s approach, of applying advanced AI and Machine Learning techniques to improve the SHA-256 algorithm performance for Bitcoin mining, is correct. All of the Company’s current efforts are now focused on turning Methods A, B and C, into commercial products. This has proved a very time consuming, due to the tremendous reverse engineering efforts involved in using totally undocumented third-party ASIC chips.
Well it’s 8 weeks since FG stated that QBT has completed the reverse engineering of the Chinese chips he believes.
This in turn should mean porting is now being worked on and tested in areas of the chip for best performance.
Method B, if it doesn’t work live mining then what’s the point of porting…..
So it’s ok for the resident rampers here is it aimsloser ?
AimHigherStill
Posts: 6,029
Price: 1.00
No Opinion
RE: BitcoinToday 08:26
I was being sarcastic Garwool. Just making my point about the 2 resident rampers, surely you saw that? I find it strange that someone like you didnt work that out?
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
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
Hey Aimloser, why are you trolling my investment still?
Is it because you are stuck in this dog of a lifestyle company?
Sad to say but this will keep going down as zero news is due on anything or it would have been in the last update.
Can see this dropping to .50 and lower tbh.