Member Info for mrhanji

Lloyds is down 2% YTD. qbt up 50% YTD..

I know where my £1m should be ;) could have earned 10 years worth of dividends in a couple of months ...

@ fleecy think qbt are aware of this as per the PRN released today, you need to read the next part which says:

"However, the research results and the statistical methodology used to obtain them give the Company confidence that its algorithms should be scalable for commercial use. "

so.. the team of experts at qbt still think we have a product based on the testing they have done, implying the adjustment of difficulty isn't an issue!

This is a complicated area, common sense will only get us so far. Which is why we have experts and computer scientist working on this and so far through experimentation and testing have proven the concept works!

"Under rigorous testing conditions, our algorithms are

achieving a marked increase in the frequency of successfully mining bitcoin,

while lowering electricity use."

someone sort out an interview quick... smashing update. Vox markets should have done an interview by now!

I think when Fg says he does not care about the daily fluctuations in share price he is paraphrasing Mr Buffets investment philosophy that has made him a very wealthy investor!

"Price is what you pay. Value is what you get."
Warren Buffett

"You need a temperament that neither derives great pleasure from being with the crowd or against the crowd."

— Warren Buffett

“Success in investing doesn’t correlate with IQ. Once you have ordinary intelligence, what you need is the temperament to control the urges that get other people into trouble in investing.”

— Warren Buffett

we're still up 40% from 5th Jan which is good.

thanks Tyke.. let's see what the next update brings. I do hope it's more then just the testing results.

In all probabilities whats the worse that can come out.. PRN on more testing ? I think it's unlikely or anything else negative considering past Rns / interview they are very happy with the direction they are taking.

Next update should be the final one on testing and next steps in terms of a product. Hopefully details of a miner ready to sign up also. As mentioned in previous interviews they are in talks with Major players... it has to be one of the large miners mentioned on the report recently released that are interested, one or more of them are interested, who else would be a major player ?

Also the testing can be ongoing in the background to further enhance the product while a miner is signed up.. making them 30% or more efficient and a cut for Qbt for its services.

Exciting times ahead, it's just a waiting game.

There will he no capital raise , plenty of options and court money due should be enough for funding... :)

hahah funny stuff. Alright have a good weekend all. Hopefully Fg will drop it like it's hot on Teusday.

hmmm just out of curiosity how much is the Waterpark worth?

it costs around $10m- $40m to build one according to Google.. my guess is it's worth at minimum $10m ? judging by the size of it in pics..

so we expect to get around that much if we sell it as soon as we have it?

Doesn't matter who produces the fastest asic chips, Intel, ibm ,chain reaction or a surprise entrant to the market. Qbt will always be able to add value with their software.

yes agree Jambone, always a way around this and do think team is doing well with the application. If anything the facts are now against the patent office so they are using the law as a final push back, but qbt have responded in likeness, very optimistic this is going to be approved. But in the very worst case scenario it isn't.. it still doesn't hold back qbt.

bobcat even if the patent isn't approved qbt can proceed as planned, i.e license the software with third party miners etc etc maybe read the documents yourself? as per the last objection by the patent officer they felt the invention was outside of scope of being patented and qbt have responded comprehensively and expecting approval.

well I'm going to stick with the opinion of the research team at qbt , that a quantum computer can be available for bitcoin mining within a year or 2 possibly even less then a year as suggested by Fg , all depends on how things develop in the industry, as the evidence shows we probably only need 300 qbits and with Grover onboard and Fujitsu and ibm making break throughs this year it's possible. Ibm pushing there qbit power to 1000 qbits, 2030 is way out... if it was going to take that long then grover would have expected his options to expire atleast by 2030 lol

i think what we're aiming to achieve is quantum supremacy, this is the ultimate end goal of the quantum algorithm that alows us to mine bitcoin using a quantum computer. Quantum supremacy is something Fg mentioned in past interviews. as per the below article this can be achieved with as little as 300 qbits.

https://spectrum.ieee.org/qubit-supremacy

“The first approach we had suggested 10,000 or more qubits would be necessary, and the second approach still suggested almost 2,000. Finally, on the third approach we were able to eliminate a lot of the overhead in our analysis and reduce the numbers to the mere hundreds of qubits that we quote.”

So we don't need a 1 million qbit quantum computer... 300 qbits or a couple of hundred qubits as testing has shown. If ibm are releasing a 1000 qbit computer then it's possible qbt would be able to mine this year?

I'm not sure where the 1 million qbit number has come from? doesn't look like we need that much to mine bitcoin.

we may only need a 10,000 qubit quantum computer if I'm reading this published paper on quantum bitcoin mining correctly?

https://www.mdpi.com/1099-4300/24/3/323

and Fujitsu are 1 step closer to producing one..

https://www.fujitsu.com/global/about/resources/news/press-releases/2023/0323-01.html

quantum mining is a long term goal of qbt.. having said that here's a paper published last year on quantum bitcoin mining which mentiones Grover.. who funnily enough has been hired by QBT !

https://www.mdpi.com/1099-4300/24/3/323

and according to this a 10 (4) qubit quantum computer is required.. does anyone know what that means. 10,000 qubits? (maths is not my strongest ability ) ... doesn't sound like we need 1 million qubits but alot less then that..

from memory qbt need a quantum computer with the right qubits , does anyone know what the right qubits is?