[Arm-netbook] EOMA68 / Libre RISC-V team financing

[Luke Kenneth Casson Leighton]

On Wed, Dec 27, 2017 at 12:33 PM, mike.valk at gmail.com
<mike.valk at gmail.com> wrote:

> Yes your mining currency. Just like gold etc.
>
> But you're putting in dollars/euro's/etc.

 they only accept bitcoin.   that bitcoin is used to buy equipment...
that mines... bitcoin.  they pay out... only in bitcoin.   [actually
they now have GPU kit which can mine other currencies but i'm
personally not interested in that]

> When your buying stuf you'll
> either find someone willing to accept your currency, bitcoin, or trade
> you currency for an acceptable one: dollars.

 yehyeh.  thinking further down the line, this is goingt to be...
interesting.  they did actually have a VISA card for a while, it was
so popular it sold out immediately.  they're planning to get some
more.


> We agree that a dollar is a notation of worth. When more dollars are
> made (printed/stamped/booked) it's worth declines.

 *sigh* yes this is the crux of the message in senator ron paul's
book, "End the Fed".

> hmm I'm derailing from the topic here sorry ;-)

 :)

>>>>
>>>> (1) is there anyone who does NOT wish to put their own money into
>>>> buying bitclub shares who would like ME to sign them up, and, over the
>>>> next few weeks and months, PAY their membership AND pay for their
>>>> equipment.
>>>
>>> You sign me/us up, I/We pay?
>>
>>  option (1)  i pay.  just not straight away, as i need to earn mining
>> and commission to do it.  i will prioritise people who have a direct
>> link to some libre software or hardware project, past, present or
>> future, prioritising further anyone who is specifically related to or
>> can help with the immediate goals of EOMA68 and/or the Libre-RISCV64
>> project.
>
> Ah for every signee you earn commission, a slightly bigger share in
> the mined goods.

 yeeees :)

> I don't understand why you would put in money for someone else for
> just the commission.

 because it's a hell of a lot, man.  jaezuss, i mean, just the one
more sign-up for a full share of mining equipment i get six THOUSAND
dollars a DAY.  that could pay EVERYTHING i need to keep this project
going, right there!

 beyond that, i can see the potential here, to not just pay for my
immediate financial needs and to cover the EOMA68 project, but
collectively as a group to fund - independently - things like the mask
charges for a libre RISC-V SoC.  (if we even had to do that... it
might not be necessary to even do _that_).  certainly it is within the
realm of possibility to fund a team of libre engineers to create the
software needed *for* that libre RISC-V SoC.

i would also be able to expand out to start the EOMA50 project (get a
smartphone reference design done) and so on.


>>
>>>>
>>>> (2) is there anyone who CAN put their own money into bitclub who would
>>>> be interested to know more.  if yes, and you already know about
>>>> bitcoin mining and about MLM etc. the link is here
>>>> http://bitclub.network/lkcl
>>>
>>> I/We sign up and pay?
>>
>>  option (2) you pay, yes.
>
> And you get a commission.

 yyyup.

> And if I sign someone else up we both get
> commission. Hmm pyramids. The last one's to join get's the least.

 the last one(s) have to wait 30 days for their equipment to be
bought, installed and commissioned.  actually anyone buying a mining
share has to wait 30 days for it to be commissioned.  6 months ago it
was only 10 days but that was before a MASSIVE demand for equipment
went sky-high and the lead time on equipment went... over 30 days.

> Don't know If I like that approach.

  they have to make some money somehow.  the 30 day "lag" allows them
to mine sooome BTC which funds the operation.

> But if it helps you.

 ... helps me to help get the goal achieved.  if someone else can
think of a better way, with as much potential, i'd love to hear it, do
a proper analysis, and go 100% at that instead.

>>  i'll have to train people on that (i'm recommending electrum as the
>> ONLY way right now because your wallet is recoverable via a
>> distributed peer-to-peer NON corporate controlled network)
>
> Thank you, that's reassuring.
>
> So basically you're buying in processing and infrastructure time, to
> mine personally.

 yes.  they operate most of the equipment - which *you* actually
genuinely own (if you want "out" they will do some calculations, make
you an offer for NNN's worth of your share of the equipment, and
you're out.  they also *won't* let you join again except under
case-by-case circumstances.  it's clearly a bloody nuisance to pull
equipment out of the rack).

> And for every signee, who buys time, you bring you
> get a bit more time on the operation.

 .... not time, *equipment*.  or, more specifically, a *share* of a
very very large world-wide pool of equipment.

if you recall, i did actually buy some bitcoin mining equipment, five
years ago.  i think i mentioned it on here, at the time.  it was a
f*****g nightmare.  i ordered 3 bits of kit.  one of them the PSU
didn't work, and one of the others went BANG within about 2-3 minutes.
so i was down by 2/3s and it was TWO MONTHS to go through the RMA
process, all the time watching the difficulty level go up, and up, and
up, because EVERYONE ELSE WAS RUNNING THEIR EQUIPMENT NOW.

 it was right at the time when the first ASICs came out.

 this taught me a hard lesson: under no circumstances buy and operate
your own equipment.  one piece fails and you're screwed.  the noise is
intolerable.  the heat - basically having an oven operating in your
living room.  the cost of electricity is insane.

 i don't know if you _like_ the idea of a 1200 watt electrical
appliance running 24/7 in your house, with the inherent risk of a
fire, but i certainly didn't.  particularly as *TWO* out of three of
the bits of kit that i'd bought DID actually go wrong.

 so this is why i'm happy to buy *shares* in equipment that is run
off-site (most of it is in Rekyavik, Iceland), where electricity is
cheap and cooling is free.  and if it goes "bang" it doesn't cause my
house to catch fire.

l.