Member Info for Phimx

"We believe this has the potential to be a major breakthrough for the entire Bitcoin mining industry"

Just like Inspirit Energy's waste Heat Recovery System except it had " boundless potential" units it didn't

I wonder who he spoke to at QBT ?

Lee1128:

" The FPGA Oracle does not necessarily need to supply inputs to every ASIC in the rig; it could be implemented in a way where one FPGA is shared across multiple ASICs, providing them with filtered data."

The FPGA has to supply every ASIC with input data. Since the ASICs are a lot faster than the FPGAs then potentially the FPGA is the bottle neck in the system UNLESS the speed differential is compensated by an increased FPGA/ASIC ratio, as alluded to by CHAT.

I'm impressed by CHATs answer, I've had no dealings with it before.

Jonny2000:

Why not answer my question ?

My question:

How does the FPGA Oracle which is so much slower than the hashing ASICs, as stated by QBT.

" an FPGA, which has the hashing power of a very small fraction of an ASIC..."

Maintain the supply of inputs to the ASIC hashers in a mining rig ? Is there an Ocacle for every ASIC in the rig ???

Technohead:

???

If the Oracle sifts the data to weed out poor candidates for a successful mine before an ASIC, why can this not applied to methods A and B to improve their chances ?

Fleccy:

" suggesting that they'll continue to work on efficiency improvements before using on the live network."

You can count on that! He will be spinning, pivoting and discussing while he pays himself some huge fees and a nice bag of emoluments. That's how the game works.

BreHaHa:

" can't for the life of me think why Jose or Vlad don't do these kind of interviews"

Jose, if he's still being paid, is only advising. He'll be kept well away from the realities of the company and will earn his money penning a few emails once in a while.

What is a Never Done Anything deal

So does that mean real bit coin mining has been going on in SaaS ?

PRN 23 May 2022

'More importantly, the Company expects to shortly commence real Bitcoin mining using Method ‘A’, performed on the latest generation of GPU and FPGA.'

So was this some wild exaggerated claim by FG that came to nothing ??

TripodMan:

Thank you. Althought it is simple and obvious it seems to elude most rampers.

Jonny2000:

As I clearly stated I followed the ASIC story. I initially asked what happened to it. If you remember just as short time ago you replied telling me to read the news. I have and followed the trail as written below.

From the ASIC story my interpretation is FG fills up the RNS with Googled ASIC detail. He plied the news without ever determining what a 5 nm ASIC would cost. I would have thought that was a fairly important point early on in the project. What do I know FG is supposed to have all the smarts

Jonny2000: I’ve been following the ASIC story.

RNS 30 Nov 2021

“ … pleased to announce that it has made the key decision to focus on the development of the more efficient 5 nm Application Specific Integrated Circuit (“ASIC”), rather than the 7 nm ASIC (as announced on the 5 Nov 2021) “

Gardin appears to recognise that a 5 nm or 7 nm is expensive but then goes on to say

“However, as a first step, the initial phase of protype testing of a 5 nm ASIC will not cost the company much more than the same process for a 7nm ASIC”

RNS 11 March 2022

“ The company is working with 2 independent partners to conduct verification tests on the final performance of QBT’s prototype ASIC. Their role is to advise on how to best achieve efficiencies in coding, in order to best exploit the specific manufacturing techniques of individual silicon fabricators when it comes to manufacturing of the protype chips.”

23 May 2022:

The second knowledge-based mining approach (Method B) will need the availability of a proprietary ASIC chip … The company is therefore assessing its competitive approach using GPU and FPGA chip technology , instead of ASIC, such is the expected potential of this new approach

Second Patent

The current directions taken by both R&D teams of Crypto and ASIC design are now more oriented on extreme silicon energy optimisation techniques, to stress the limit of physical properties of a 5 nm ASIC, for which a leading world class ASIC design research organisation has been engaged

15 Nov 22

“ This will allow us to continue with our proprietary ASIC chip design … “

10 May 2023

“ In parallel, the company continues its R&D efforts to design and fabricate a next generation bitcoin mining ASIC, … “

13 March 2024

QBT Proprietary ASIC Chip

“… The company has decided to facilitate this development with a mature process node chip due to its lower manufacturing cost rather than for example, a market leading 5 nm protype ASIC, which would cost nearly £2 Million.”

It seems it took Foggy 2 years to discover a 5 nm ASIC would cost millions. A shame one of the many experts couldn't drop a hint a bit sooner.

What happened to this device?

"Assuming that the second patent application is filed by the Company’s cryptography expert by the end of February 2022, a first 5nm prototype, which would include all the improvements of both QBT’s first (ASIC UltraBoost) and second patent application, could be ready for manufacture in Q3 2022."

“We continue to move fast to develop our disruptive Bitcoin mining strategy, of which the ASIC component is one of the key directions of our multidisciplinary cross-fertilising R&D approach.”

Obviously Italian college lecturer Gardin needs Jose to add some credibility to his story. Jose acts as an advisor to other companies. I'm sure he will provide nice words when asked.

The Company has 3 employees 2 NEDs and the main man. The NEDs probably have little input to the day to day details. As for the hard working teams of experts! I wonder how they pay their mortgages and feed their families each week ? After all they've been paid in worthless options for months. Meanwhile 'Foggy Dewhurst'eats well.

Theanalyser:

It's not worth expending energy over. In the bigger picture there's probably 50 to 100 million disappeared into this black hole and there's only a pile of poorly written RNS to show for it.

Boundless potential - for directors perhaps .

I meant to say " ... any genuine LTH ...."

I'm not doing well on this little keypad and screen today

PAS14:

I think the problem here now is there are too few long term holders. Too many traders masquerading as long termers. Without doubt any LTH are beginning to look very naive now but good luck with the riches dream, every board has them but on AIM they rarely come true.