Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
Suthy, I am just wondering if I have interpreted things correctly in that the 2.6x speed improvement is a finished algorithm which can be applied in its current form directly to the existing mining rig difficulty. I therefore would term the next stage as an application rather than testing from scratch and think it will be a case of how does it perform in comparison when applied. My point being this may be a lot quicker than the previous testing stage which was all about getting a fully finished article / algorithm which we appear to now have to throw at anything we want to and see what happens.
I have not worded this well but I know what I mean and hopefully the gist of what I am saying is apparent in that it may give results, whatever they happen to be, fairly quickly
atb.
The interviews will be very positive now that actual speeds have been announced, albeit theoretical. I do expect the speeds to decrease once applied to the 'realtime' difficulty of current mining but nonetheless still a big improvement to what is out there.
If Francesco can give expected timelines of when QBT are to start any of the points made in the PRN then that would be a big bonus, he will not be able to mention any names of companies coming on board as that would have to be announced in an RNS.
For me the timeline now is the most important factor for advancing the sp and details of expected dates should at least be asked of him.
atb.
Industrial is a term commonly used to describe a large scale roll out across whatever sector it is referring to, be it National or Global. Francesco stated we are going to begin (not look at doing) Industrial Commercialisation so to do that, be able to begin, on that scale we must already have a company lined up and it will not be a tin pot company and I now believe this is the previous reference from Francesco as to people 'will be surprised as to the name of the semiconductor /chip maker coming on to the scene'. My words as I cannot remember exactly how it was put but words to that effect and it created some debate at the time.
Therefore my conclusion is we have a deal with a chip maker who is not an obvious one like Samsung, TSMC, Intel etc and that is what Francesco alluded to a couple of months ago.
atb.
Like many here I was intrigued by FG's statement in the Vox Podcast regarding the surprise manufacturer of Asic chips. I have listened many times and it's as exciting as it is frustrating to try and decipher the relevance, to QBT, behind it, if any.
I am of the conclusion that the emphasis is due to the identity of the company and not that we have signed anything with them (yet). I think the surprise is who it is and a totally new kid on the block who would not be expected to enter the semiconductor / chip market as against the expected likes of Samsung, Intel, Apple, TSMC etc.
It could be someone along the lines of Google, who are 'relative' newcomers to the mobile phone scene and may be looking to expand. Odds on it's not them but it does sound as though it will raise eyebrows when we finally find out who they are.
On that score I suspect FG has actually introduced himself and it would be quite exciting for a new chip manufacturer to be approached by the potential game changer that QBT could offer once testing verified and with the security of the Patent that will go hand in hand.
Just some musings to fill in the news vacuum while we wait.
atb.
Any deals done with existing miners for a share of profits from bitcoins mined would be for 'additional' bitcoins to their existing mining totals as opposed to all coins mined otherwise they could actually earn less.
A very basic calc is if a company already mines 500 bitcoins a month and our new asic chip gets them another 50 making a total of 550 then assuming a 10% share to QBT would be 55 coins with the original mining dropping from 500 to 495.
Extremely basic calc i know but the carrot for existing miners would be to part with profits only from gains ( extra coins mined ) on this basis we could ask a higher % of new gains as a miner giving back 25% would still increase by 75% of all additional coins. It would still be a huge amount of revenue with hardly any CapEx to QBT.
atb.
and the other main mining Companies of the 9 listed on QBT 's website table make up a total of approx 15% of bitcoins mined. This leaves 85% of bitcoins mined by the mining pools.
In Francesco's last podcast he actually talks about QBT's value to mining pools, he doesn't specifically name any of the 9 so whilst we can do calcs for a % of those in the table ( because we actually have their monthly numbers to hand ) FG knows that there is a huge saving for mining pools if they come on board and huge revenue numbers for QBT if they do.
He does say in person "mining pools" in the interview, I picked up on this at the time as many overlooked the significance as they are faceless as opposed to being able to quote Hive, Riot etc but they mine 85% of all Bitcoins, fact. This potential should not be underestimated imo.
atb.
the question. Basically both are correct, FG stated last year that QBT are not going to use Brute Force, as are all the miners currently, but to try and understand the 'intelligence' and work towards an algorithm to do that.
Now that we appear to have an algorithm that is 30% faster we can only apply it to the current miners who ARE using brute force to gauge the outcome. So the intelligence ( non brute force ) is being applied to the miners using brute force. That's my take on it.
atb.
After the CPR of Chudditch was announce do people believe that Andy Yeo should have done an interview / podcast explaining his take on the results and what it meant to the company moving forward. Interpretations of the CPR have been varied and therefore could he have added some balance as to exactly how he and Baron Oil as a Company perceived them.
atb.
The reason why there have been no recent updates is in my opinion FG is at the last stages and there is nothing else he can add without repeating prior news updates, next news will be we have succeeded and here are the patents, here are the NDA'S, we are now mining, we have agreements with mining pools to provide their rigs with our 30% faster algorithm chips etc etc.
Really don't get what he can add seeing as he has stated we are in the final process of checking and proving up the r&d to release to the markets. That's it, if he finally releases news that they have failed or the results were not as expected then he will be held to account on his '30%' statements but until then and seeing that each '0' added in front of the algorithm is 16 x more complex and time consuming than the '0' before it It's Big Data needing supercomputer processing power and everything hinges on proving it up, everything, there are no snippets he can give now it's all or nothing. That is and has been my opinion for some time.
atb.
The point is even if we do not hit the dizzy heights of 3.7p we will certainly be multiples of where the sp is currently. Let the day traders and Robbie have his day but for those that hold there should be significant gains and fairly good odds of a special dividend, we may even get a smaller dividend returned from the sale of Dunrobin if we have enough left over from what the BOD need to assist the Chudditch drill.
atb.
It doesn't matter because we have not had any news yet and there will always be day traders, I said this morning Dunrobins 200m barrels will sell circa $1 - $1.3 per barrel giving $200m - $260m for the play, we have 32% which should net us $64m - $80m. When the news of monetisation happens these day to day fluctuations will be gone.
atb.
Davies, hi mate, coming in at double the expectations at 200m barrels with 32% interest to Boil, Dunrobin gives us 64m barrels NET so I would expect considerably more than £7 - £10m, your valuation comes in at 12 - 15 cents a barrel.
As a yardstick Corallian got £32m for 189 bcf which is pretty much $1 per boe. We could get nearer $60m , I notice Allenby broker note using $1.3 - $2 for Chudditch. Not at odds with you but Dunrobin is a pretty decent play and 200m barrels will have significant interest from oilers imo. Certainly enough cash coming Boils way in my book to go the drill alone for Chudditch , if needed, which will also give us a bit more respect / clout at the negotiating table.
atb mate.
Davies mate not sure what people are not understanding about my post which is 100% totally about why the sp dropped like it did. That's it, and it did drop significantly because of how the mm's interpreted the rns volumes. Not me!!
I read all the theories as to why it dropped but the volumes did it.
I AM NOT SAYING THE VOLUMES ARE NOT WORLD CLASS NOR AM I SAYING THIS WILL NOT MAKE US ALL A LOT OF MONEY MY POINT WAS AIMED AT THE MM's WHO HAD REASON / EXCUSE TO DO WHAT THEY DID. THAT'S IT!
I hold 90m and will not be selling a single one mate until everything is done and dusted because I can read an rns and understand it.
atb.
I think we will bob along until further news, slights ups and downs. The Dunrobin CPR was accelerated as we all know, how soon therefore will we get news of a sale / jv etc, that should be the first lot of news imo. Then the sp will reflect positive news.
atb.