Member Info for lemmyaquid

@Williwontl
If you find better boards will you let us know? please.

Agreed, quantum mining is off in the future somewhere, but I do wonder what effect simply having a patent Quantum SHA 256 in the bank might have on the share price, all that massive potential actually codified even if some way off. Does make QBT a very good long term bet.

Be glad to see back of this bitcoin winter. Theres a way to go before we can be sure. Fingers crossed time.

@Marsneil
Afraid you are shouting into the wind mate.
its like a Jehovahs Witness and a Satanist hurling abuse at each other, they wont stop until they both run out of steam or someone gives them both a good old red hot poker up the ........

Great rise on no new news.

Just goes to show how much interest there is in QBT out there, so many people must be anticipating the potential for QBT when the news does drop.

I think that quantum desktop type/size devices are still a number of years away, happy to be proved wrong.
Indeed, when quantum comes along, blockchain aside, there will be huge opportunities in both moving work in digital over to quantum, and protecting both existing systems and new work in quantum from "abuse" of the power that quantum will facilitate.
Any competent companies that are in this space when quantum arrives should do exceedingly well.

Also, you say,
"Prototype mining rigs, QBT will be watching development across the world for miniature quantum rigs..."

Not unless they have a quantum version of SHA 256 they wont. That hopefully will be the preserve of QBT according to the other days RNS.

@ Addisonshare
Agreed, things should, when the news arrive start picking up fast.
Having been stung with Argo, I am very skeptical about QBT actually joining the bitcoin mining arms race, which is a constant and huge drain on resources. This particularly as bitcoin picks up, any decision to start mining, by the time all is set up, it will probably be just in time for the next bitcoin winter.
When/if we get the Qantum version of SHA 256 up and running, that will perhaps be another matter.

Thanks for the replies.
Having re read the RNS and listened to the podcast a couple of times, I am in agreement with the gist of the replies and am of the opinion that the RNS reference to patent application was in relation to the Quantum side of the research only, not to the 30% booster software as many here seem to have assumed.
Onviously this is about longer term prospects, which may dissappoint some, but is in itself hugely exciting. It confirms that the team involved, with the addition of Dr Grover, includes some very serious people in quantum computing development, that they have made very significant progress, and if successful, a patented Quantum SHA 256 Algorithm could be on the cards, which would be a hugely valuable and transformatory asset to own, an absolutely massive potential upside for those prepared to be patient.
The R&D by QBT is segregated into its different, though overlapping streams, Quantum computing, AI and traditional computing, so issuing an RNS about Quantum (not at all about the software boost) is quite reasonable given the appointment of Dr Grover and shouldnt be taken as being any comment on the traditional computing sofware boost, even though many are specifically waiting for that.
The podcast is also primarily about the quantum side, but, towards the end FG does refer to multiple patent applications in relation to the entire QBT R&D, which would include, I'd presume, the 30% efficiency boost software, and can be a pointer to things moving in that direction.
IMO there will be the near term news that we are all waiting for, but that simply wasnt what this RNS was about.

Mind boggling.
Must be a generational thing?

Gotcha!

You said you were not posting for the next three weeks.

Your cryptic posts are getting a bit like following treasure hunt clues, or something like that.
Is Addison allowed to pass on why you will not be posting for three weeks, if he susses it out?

I do enjoy your posts , bye the way.

Did your car pass its MOT?

Thanks Magnum, I'll have a look a bit later, sometning else has cropped up just now. Does it answer any of my questions?

Seems like nearly everybody here is more interested in point scoring over who said what, who ramps or de ramps, arguing over or making baseless predictions on when the big news will drop etc. than seriously disussing QBT and todays update.

I have twice now posed questions that, depending upon the answers, perhaps have huge implications for QBT, and asked for others opinions, but the silence has been deafening.

Todays update, questions:

"Final theoretical checks on the quantum computing version of the SHA-256 algorithm, the core engine for BTC mining, are being carried out before the Company drafts its patent application."

Quantum computing version of the SHA-256 algorithm - Quantum Computing
Software update, 30% efficiency gains - Traditional Digital Computing

Are these two things the same things? My opinion is that they are two very different things.

So what exactly is QBT basing its planned patent drafts upon?

If the two things are the same, then things are seemingly much simpler, patents are being drafted for the 30% boost software, the product as we have been expecting it is being prepared.

If they are not the same, then it might seem that QBT is heading off on a very different trajectory, what is this Quantum version of SHA 256, how developed is it?, is it a quantum computing break through? where might it be leading to? is it happening in parrallel to or instead of the software update? What bearing does this have on the prospect of near term revenue? for starters.

I dont know the answers, so I'd really appreciate anyones thoughts on this.
Likewise, if you think I'm deluded, barking mad up the wrong tree, whatever, please tell me so(and why).

"Final theoretical checks on the quantum computing version of the SHA-256 algorithm, the core engine for BTC mining, are being carried out before the Company drafts its patent application."

But is this quantum computing version of SHA 256 the same thing as the software upgrade, based on more conventional computing, that offers a 30% efficiency gain?
To me it looks like something different and more advanced, and this is what (I read) as eing the subject of the patent application.

OK, this wasnt the news that I expected, my assumption was that the next update would be about the "ultra boost" the software that enables the 30% efficiency gain, but, as I read it, and I stand to be corrected if wrong, this is something different. This isnt about a software upgrade, but, is about quantum computing, something I had expected to be much more in the future, and something with vastly more potential. The patent application aspect of the RNS, as I read it, also appears to me to relate to the quantum computing side of the R&D.
What does this mean?
A negative view might be that whereas patent application for a sofware update would signal an imminent launch of a product and ensuing revenue, the quantum stuff is merely more jam tomorrow.
On a positive side. this (unexpected) talk of patenting quantum developments does suggest that in this field QBT is much further ahead in the game than we might have supposed, and quantum (supremacy?) is the ultimate goal with vast potential, potential many orders of magnitude greater than that of a software update but further into the future.
Another implication may be that the quantum side has superceded the software side of development, but that is just conjecture on my part.
Maybe I have got this all wrong, would love some other opinions.

Waiting for the next bull run would indeed be a fools errand.

Meanwhile we (and FG) do have to wait for all the dotting of the I's and crossing of the t's to be done, not only with the product itself, but with verifications, patents, contracts, negotiations, which are not only internal QBT matters but which involve 3rd parties, lawyers, CEOs, customer approvals and agreements etc.

Frustrating it is, but all this takes time, the months that we have been waiting, which also include R&D time, are nothing. If the big news drop is just around the corner then QBT have done an amazing job, as has been said before, if it was so easy then somone would have already done it. I understand (and feel the impatience) but everything needs to be in place, foolproof and protected, a premature ejaculation now could be fatal.

Drinking and swimming?
Even more barmy than I thought!

Nah, seriously Addison, your enthusiasm, even when it goes ballistic, is a bit of fresh air even on this board which, has much of the time over the last year or so been one of the best on LSE.

Merry christmas

Been invested in this for a year or so and have enjoyed loging in to read the chat most days, and even made the very occasional, and largely irrelevent contribution myself. Merry Christmas to all, rampers, de rampers, wild enthusiasts and dour sceptics alike, and wish you all, (and me), a very transformatively profitable new year.

Cheers.

Thanks for your replies, Jamrock and RKB, very helpful.

Interesting and positive post there RKB, thank you.

Im not particularly conversant with the workings of convertable bonds and options, so I'd much appreciate if you, or anyone else could explain to me the significance of both converting at the same price of 5p (point 4).

Thanks in anticipation.