Bitcoin Forum

Here are my thoughts on the recent SIAcoin / antminer a3 / obelisk tech sc1 development if anyones interested

Is Siacoin cryptocurrency a good investment after the recent drama that has transpired out of the recent release of the Bitmain Antminer A3, Obelisk Tech SC1, DragonMint B52 Blake2b Mine, and Baikalminer Giant B? SIA made a move to "secure" their blockchain by launching an additional company www.Obelisk.Tech which has their development team developing their own ASIC miner hardware the Obelisk SC1.

Sources
Dev's against Bitmain Antminer A3 - https://goo.gl/kx3zer
Dev's working on hardfork? - https://goo.gl/UmY8rQ
Community divided, some want softfork - https://goo.gl/LZQfL3
Bitmain Antminer A3 - https://goo.gl/Mbghcj
Obelisk Tech SC1 - https://goo.gl/HnMbGM

https://youtu.be/ADK6SUGfb6w
https://i.imgur.com/jd3Raynl.png

Man that reddit page is full of anger. It's like watching Segwit vs Big Blocks all over again. Is it weird that I agree with both sides lol.

Vosk, I really envy you. That Tails is too damn cute, every time I see her I get mushy :D I hope she's doing better.

"6 months away! Do you know how long that is? That's 1/2 a year. You probably knew that." <-- I fell off my chair laughing  ;D

Obelisk has done nothing but talk
while they were talking (and taking money for their talk), Bitmain and Balkai put OUT miners

- They screwed buyers with BTC price, the YEAR lockup will cost SO much in BTC price rise, so ROI of your actual $ back = like 3 years, and they havent been RELEASED yet :/
- By the time they drop one, it will be HIGHLY inefficient, and their excuse is:  well "were gonna promise a 2-10x better one within 6 monthish after..."    -_-  thats reassuring
- Butterfly labs all over, by time its delivered, it will be ded.
- those who buy in HAND now direct have a chance, but thats it, havent people seen this over and over each new FPGA/ASIC? :/

oh well, i don't do preorders so i never threw my money away im happy for

Thanks for the links - I knew the basics of the discussion but it was good to get a better picture from the dev's and the community about where its all at

I thought this was going to be another stupid post in broken english, then I saw it was VoskCoin who created it.  Much respect man.  I got into GPU mining last June, and the first video of yours I watched was about the D3 and how high the difficulty was getting.  I bought the A3 the other night when it came out and it was the first asic I bought. I obviously expected overselling and rising difficulty, but could have never envisioned talk about a soft fork.  Anyways, thanks for the always unbiased opinion and advice, you tell it how it is.

Haha yeah exactly it’s honestly crazy to see how much bitmain has shaken up their community by simply releasing a miner.

xD Tails is the best, she was a driving force of me into crypto so I could not work 10 hour night shifts and miss half her life + most days I’m the only caretaker and unfortunately leaves her bored alone or crated when I had to work. The recent crazy events in our lives shook everything up and now I am fortunate to be able to provide her a better life just need to get past this health issue.. appreciate the support though. The community has been so awesome through all of this.


Hahahaha that’s great :D after I said that I thought .. I hope people think that’s funny or they’ll be like what an idiot lol

Yeah I’m all for funding promising projects... but truthfully .. did SIA NEED an asic miner? They should thank bitmain then they did their work for them?

When I look at it from that POV... really makes me wonder the true motive? $$$$$$$$$?

As you said it wasn’t just $$$$ that is actually $$$$$ in BTC now and required zero work lol

Of course, glad I could help! I've been really surprised by how vocal their dev(s) have been and even the posts about their potential forking discussion and immediate response of one of their main dev's basically saying he's totally supportive of that fork

//I really can't get over their backdoor secret switch too. . very premeditated

haha that's incredible to hear man thank you for the support, seriously. Whats your gpu farm consist of and what are you mining?

Yeah I hope that this doesn't turn out to be d3 . . round 2, and I doubt bitmain would pull that stunt back to back however all this wild soft fork hard fork talk could easily screw a3 owners big time. . .

Glad you enjoy the content man, feedback like this keeps me going w/ the youtube! Anything you'd like to see covered in the future?

Personally I do hope they do it. Get rid of all the A3's.

I'm still new to all of this. Why would Obelisk tell everyone that ASICs are good for Siacoin and then suddenly change their tone? Sounds a lot like Obelisk is just upset that someone else is eating their lunch. They only want ASICs if they're the ones selling them.

Great video Vosk. I wish Sia had some clear governance in place (thinking of Decred and its initiatives here). Community is a good thing, but unless you have governance figured out there is no good way of handling something like this.

You are missing the point here, sia devs released not to protect the network, they released because they are greedy, if they were not then sia would still be gpu only mining and for that I applaud Bitmain cause now it seems ASIC is common in the sia network and sia devs are freaking out cause they thought they would have only their asics around. As sia devs said they will hard fork their network, that tell us was never to protect the network, it was for their pockets only. The sia devs got what they wanted and hard forking will not help cause bitmain and the others can patch it. Sia network is done for and the lie about they wanted to protect the network is hilarious, and now bitmain and the others if they want, they can hack and kill the network and all ecosystem sia coin network was built. Sia devs cant compete with bitmain and if the worse comes to happen, bye bye siacoin.

I understand that and its why i've proposed that question :D

Is that fair though when they have such a vested interest in obelisk? What if X company makes another asic for their forked algo and they just fork it again to protect their obelisk venture?

Sounds a lot like Obelisk is just upset that someone else is eating their lunch.

I lol'd at this - haha great way to put it xD

Absolutely agree. . the real question then is. . does their decred ASIC have a bitmain kill switch built in too?!
Should we also expect a decred asic miner from bitmain here shortly?

Vosk I must admit I haven't watched every one of your vids yet but If I had to make a request (and if it hasn't been covered?) I'd like to know your methodology about balancing the "hobby" mining with the rest of your life. Do you work full time and use some of that fiat to purchase the GPU's/miners etc I noticed you've got a fair few miners now just wondering how you approach the whole thing ie are you converting the earnings back to fiat to expand more progressively?

Leaving this here for A3 owners, in case they are new to the Sia community: https://www.reddit.com/r/siacoin/comments/7slr57/something_stinks_in_the_world_of_a3s_and_mining/

Well said , thats what I bee trying to tell people, youre giving $$ to a vaporware company that did not even have a freaking prototype then get mad
when they get beaten to the punch by true professionals ?

I hope this will be the last fucking 6 month + preorder we even see on these boards when all these idiots lose thier shirts. 

I cant even take pity on them because we have seem this damn movie before like 10 times so far

You saw this happening 10 times, and you hope it doesn't happen again? You should know better :)
I did order a couple of miners from them, and I'm hoping for the best, one of my units is Decred miner, still no competitor, will come for sure. I have diversified mining equipment and risked a small fraction though. Unfortunately some put everything they got in this basket :(

Alt least you diversified , which means you know what you are doing. Its the newbies who put all thier $$ into this vaporware miner  despite warnings I am referring to.

So what would happen to Sia (price wise) after these Obelikses and A3`s hit the mining pools? The price would go down, logically, right? If those numbers are correct one unit would mine 300k sia monthly  :o

Why would the price of the coin go down? Net profitability will go down as more ASIC's come online, which means your 300k number will drop to 200k, 100k and below super fast. But the price of the coins will stay the same, may even increase as has happened in the past when Dash and LTC ASICs came out and generated a lot of new interest.

I actually just briefly touched on that but it was just a piece inside of another video (maybe my livestream?) but its a topic I want to dedicate a video to. . basically more rigs = more time consumed lol plus if you diversify what you're mining there is more to keep up with and quickly my life was consumed like most of us here. . by crypto.

Personally up until Christmas when I lost my job due to having to take care of my dog (treat her like my daughter) I dedicated all spare funds and then some really to crypto / rigs but that's because I'm gambling big here. . risk / reward xD

I've been turning all my fiat and crypto basically into more rigs this year, a lot of debate surrounding that but I'm happy with my decision and when things slow down (like they are atm) mining is awesome because I'm still earning everyday instead of sitting on a static amount of crypto or trying to consistently make great trades . .

Anyway just chasing crypto dreams I guess lol

that's kind of where my head is at too. . if the sia devs navigate this decently I think sia will probably make some big increases,  millions of dollars of hardware were just dumped into their ecosystem

There should be some sort of crypto code where no one would support a pre order that is say more than 3 months out lol

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my opinion on the siacoin soft / hard fork and 24h earnings w/ the a3 24 hour earnings if anyones interested

https://youtu.be/aII0FfKsU5U
https://i.imgur.com/PwUQVKdl.png

Just checked my rig, was getting one sia per hour, now I'm getting .5, its begun.

Support me on the decred redit. Let's push the decred community to soft fork to defend itself against the obelisk dcr1 miner. The SIA development team have proven themselves untrustworthy. Who knows what they will do with all that decred asic hardware?! They will probably 51% attack the network! I heard that they sold 1 million miners!

https://www.reddit.com/r/decred/comments/7st4fw/obelisk_51_attack_is_coming/

Asicpocalypse?!

Lols, nah, difficulty increase I believe is how you say it. Maybe it is I don't know. Block reward is the same, I think. The pool I'm mining has a minimum payout of 500. That's going to be like forever now. I hope they reconsider, given the decrease in yield. It's just my claymore -dcoin but I was going to keep at it until I got 500, now I have to reconsider. No hurry. I'm nooby, so I've never seen a coin get blowed up by asics before. I'm watching this like a hawk because it's interesting as F#%@*k. I'm hoping they pay my 270 out and the price goes to the moon, but only the former seems probable. They better drop payouts or they're going to have 20 dudes w/a3s owning all the sia, and that's not good for anybody. 

Doesn't this sound like the most centralized (controlled) coin on the market?  Might as well be microsoft who developed a coin that could only be run on windows.

Not just the hardware, but think about all the new people this brought to the Sia community.  They are getting their coins out into many many more hand now.  I think if anything, this sparked much more interest into Sia.  Wouldn't that be considered a good thing?  Unless the Sia devs are only concerned with being the only ASIC producer for their coin (monopoly)....

You tard they only sold max of 4k decred units b/c that was their max limit for batch orders.

Your sarcasm detector is broken :)

This if from the Siamining pool:
"To alleviate the effects of the increasing network difficulty, starting on January 25 we are going to gradually introduce a new payout tier. We are still working on the details, but our intention is for this new tier to pay out accounts with a balance between 100 SC and 500 SC, every 5 days."

So.... dual mining is not going to be profitable as it was with Sia  :(

If Sia development team are also here to protect the hardware developer (regardless of their have any direct or indirect interest), then the entire development team will need to be replaced.

Else this is like Sia will be like some of those no future Enterprise Coin. Or its no different from a closed source project.

Bitmain evil is another issue, it should not be linked to how to run an open source project.

Protecting their "relative" technical incompetent is a No No.....


to declare: I do have A3/D3/L3/S9/GPU too.

this. . . its astonishing how many people arent realizing this. .

No logically that makes zero sense. The number of Sia's mined before A3's hit the market is exactly the same as after they hit the Market. Only thing that is happening now is that those same number of sia coins produced in a day are being shifted from GPU owners to ASIC owners.