Bitcoin Forum

Obelisk Tech announced their GRN1 series asics today.

Three versions: Standard, mini, and immersion blades.

https://obelisk.tech

These guys are a joke.  For a group that pretends to want to bring transparency, their pricing structure is beyond convoluted and confusing.  They had a pre-sale, now another presale?  Plus a coupon for another batch?  Anyone that sends a dime to these guys get what they deserve.

You are a joke. These guys do there job very well.

Bitmain does the same, if you buy a miner, most time you get a coupon for the next batch or miner. So were is the problem? Sorry your post is stupid.

Go ahead and pre order from them. If dare you. I ordered two dcr1 and got severely rekt. Their miners are falling apart with falling heat sink. They have constant firmware updates bc their miners are so shit. These are the worst miners made. I had to pay full retail to swap over to sia chips and take on a bigger gamble to Roi which I probably won't. They are over a year late on deliverying their bricks to their customers.

Obelisk team is a big joke and make this space look very bad by rekting their customers investments.

This, I was close to pre-ordering one of their SIA ASICs in 2017, but at $3500 pre-order(at the time) and no delivery date glad I didn't. Seeing how that how mess played out.

 I have to agree their GRIN model is a joke. Their initial offer was a pay 3000 for a 3k voucher? No incentives for pre-ordering besides "you get it first, maybe" meanwhile Innoslicion is making their own GRIN asic and as we saw with SIA they make better ASICs.

This sale will close on May 3, 2019. Obelisk expects to ship orders in October 2019  ???
I understand this is some kind of joke?
No one will buy from you to get in almost a year.

Forget obelisk tech, in china they steal the tech and launch their product before the company that created it in the first place, siacoin is a good example.

that Bitmain does the same bollox, does not make this look better, investing in Grin ASIC is a huge Risk, there is basically no demand and huge emission. do your math.

Must be opposite day.  Please explain how Obelisk has been a success by any measure.  Bitmain does hand out coupons sometimes,  but I can't say I have ever seen them take a pre-order 7 months in advance, and then include a coupon for a future batch of the same miner (which hasn't even been built yet).

Bitmain is based in China too.
Does this mean that they've stolen ASICMiner (https://bitcointalk.org/index.php?topic=91173.0)'s tech to build the Antminers?  :-X

Preorders are the old way of doing it.  If people stop preordering then companies will stop offering it.  6 months away from a "maybe" delivery.  I cant believe people still buy preordered asics lel

Do not trust Obelisk.
I am a victim of pre-order their DCR1. I had paid $1,599 for each pre-order DCR1 in 2018.1 , delay and delay, more than a year later，their products are still difficult to produce. Now their solution is buy-back each DCR1 with $300. Nothing send to me, and i lost $45,000.
They won't come to a good end.

And all that from a newbie with a whopping 1 post here at bitcointalk. What proof have you got of your accusations? People need to back up their claims if anyone are to believe them.

You are the newbie if you don’t how people got rekt by buying DCR1s.

YOU buddy are completely out of your mind if you have no clue about sia and there snake poison ass coin. and their miners. OMFG.

"your shilling aren't you"

you can't be possibly the dumbest person ever, and even then you would know.

Every person here can tell you why this is snake
EVERY REAL PERSON.

no your trolling stupidly.
no one can be that fucking stupid.
THAT fucking stupid
fucking stupid.
stupid.
fucking stupid.

and if your not. wake up.

Stupid: having or showing a great lack of intelligence or common sense.

and that is exactly what the condition is here.
sorry if you take it personal. but stupid people here making others lose money needs to stop.
so im am gonna attack your blatant disregard for others cause your stupid.

All those who bought DCR1 were treated like this.
The pre-order info and the buy-back strategy can see in their website, i don't need to prove that.

Didn't Obelisk give all DCR1 buyers a credit for the amount of coins that they would have mined if Obelisk would have shipped on time, without factoring in the cost of power, essentially giving DCR1 buyers free electricity? The only thing that happened with the DCR1 is that profitability fell from other miners flooding the market. I'm not really sure how that is Obelisks fault because that would have happened regardless of Obelisk shipping on time or not. DCR1 buyers actually got a better deal from the delay because of the aforementioned free electricity.

Obelisk has faults. They don't communicate enough when there are delays and they are terrible at estimating times. They claim they have fixed their process. We will have to wait and see. But they are also very good to their customers compared to other companies. I was one of the few people that bought a $3,000 voucher for the GRN1 and they are giving me a miner that is currently priced at $10,000. I'm pretty happy with Obelisk at the moment.

do you have no scope. do you not have a brain.

the company the coin, the whole fucking thing. is a joke. its not about the miners. it's about that it's going to 0. and everyone in at the end will be the fools.

and second.
theres billions of this shit. it's going no where. the price will only be pumped and dumped.
the technology has been proven to be absolute shit and doesn't cost effectively work.
the whole thing is a scam.
the whole story was OMG more hash better costs better coin. EVEN WITH THE ASICS there storage for data was an absolute joke and couldn't compete price wise with what amazon or any other service offers. they kicked off the asics and dumped there hash.. now the coin is straight trash..  

so you all can talk about the tech. but the problem is the coin itself and the tech is just that more tainted. END this shit now. burn it with fire.

Pretty simple. Obelisk DCR was a good miner on pre order date. On actual delivery it was shit.

Same will happen for those that pre ordered a grin miner. Looks great now but on actual delivery it's a brick.

China will just make something faster and launch it sooner.

Never do pre orders with more than a 1 month delivery time. Your asking to get rekt. Your better off buying coins at all time high than to buy any miner with a 6+ month pre order.

I was an obelisk dcr1 victim and I didn't learn the lessons of those that pre ordered butterfly labs.

Even if you do get lucky and got the fastest miner on the planet by doing 6 month pre order your essentially promoting a very toxic business practice and you got a bad gambling habbit, this is what screwed people over with butterfly labs and made some leave crypto for good.  We don't need these bad business practices to come back.

Its my understanding that there are some people who still haven't received their DCR1s!  Part of the problem (which hasn't been mentioned much since Obelisk has scrubbed a lot of older posts) is that when people ordered they were told they could get a 100% refund if the miner didn't ship on time or if the specs deviated from what was advertised.  When it became obvious that nothing would ship on time, David Vorick then said that he misinterpreted the law and they weren't required to offer any refunds.  He then said that if they did issue refunds it would equal bankruptcy.  I mean I get it, not every business venture can deliver, but they should have folded the company.  instead they are selling more miners.  I don't think you will find any dcr1 buyer who says they got a better deal.  Even if the DCRs would have launched on time, they were already worthless.

Personally I think it was foolish for you to hand these charlatans $3k but if I were in your shoes I would hope for the best too!  I think the fact that they can sell a $10k miner for $3k just illustrates what type of ponzi scheme this is.  Furthermore I think the estimated specs were at 400w.  I realize the performance has increased significantly but at 2200w, God help you if you didn't want a noisy and hot machine!

There should be a ban on this forum for any preorder shill greater than three month

And if that. Vendor has missed deadlines by more than six months they should be blacklisted

Foolish people are still in the market. A couple more of these projects and they should end.
Pre order should be done only if it is some sort of advanced technology that comes with a good discount.
And this option is money thrown to the wind.

It probably doesn't make sense to tell people how to invest their money unless you already know what their portfolio looks like. I already own real estate. I would hope that anyone buying mining equipment like I am already has a diversified portfolio of more traditional investments. People have different levels of risk-return tradeoff that they are comfortable with. I am comfortable with the risk because I can afford to be. Not everyone is in the same situation. They should make up their own minds.

To hear in the words of an Obelisk attorney, in court, about how they treat customers, here's a write-up on Medium: http://bitly.com/OBELISK2

Any potential buyers should also review the thread on the miner on the Grin Forum, where community members engage directly with CEO David Vorick and conclude overwhelmingly that the GRN1 will never ROI.  https://www.grin-forum.org/t/obelisk-grn1-full-sale/4773/46

That's based on paying full price of $10,000 rather than the pre-sale price of $3,000.

I dont think you can get a forum ban just for listing a preorder, it's not against the forum rules.  What needs to be done is people not pre ordering these so far in advance but to each their own as it goes.  Pre ordering an asic "dream" almost a year in advance is a sure fire way to lose your money though lel.

The main thing for us is to warn beginners and those who like this option.
We are not stupid and we understand that even if the delivery of goods happens, it will already be outdated for the market.

Good you learnt your lesson, it seems 45k did it, with those 45k if bought coins and then later sold, would give you at least 7 times more profit, maybe the obelisk tech have done that, used your money to buy coins and then later resold them got the money and you was somehow scammed. That is a good thing, next time you will be more careful throwing money at unknown manufactures as at that time they had not delivered anything at all, everything was just a blank promise.

100% greedy like you were back then = certain death.

And yet here I am having pre-ordered SC1's and am still happily mining with them.

"profligates like you belongs on a cross".

So how long would you consider this asic tech to be profitable before difficulty goes through the roof? Should I invest in one of these? What do you guys think?

few days, consider around a week.

Some calculations on grin forum showed that if the price of grin is still at its current price (obviously unlikely), 2500 Obelisk units get sold, AND no other company comes out with a competing asic that the break even point would be a little over 500 days.  Of course they will be obsolete before then as there will be algo changes

That calculation is wrong.

From what Taek stated on Grin forums (https://www.grin-forum.org/t/obelisk-grn1-full-sale/4773/30), there's potential to mine 12 million grin before C31 phases out between April and August 2020, with mining starting in October.  So that's about ~270 days to put in the middle. At that point each of the 2500 machines would net $11,800 after electricity. So break even would be around 225-250 days.

Of course the AND conditions apply, which mean this will not happen.

Obelisk seems to be pricing the GRIN1 at some highly inflated value of Grin in the future. In which case you are better of buying grin directly instead of going through all the drama with Obelisk.

With the lead time for these to maybe come out a few days of profitability might be a stretch :)

Who knows what happens between now and then.  No one here should be encouraging you to buy one unless they are a payed shill or haven't gone through this before.  These will most likely be DOA outside of free power or ridiculously cheap power.

To stimulate sales, the company can arrange a small pamp grin.
To show high profitability and payback ASIC.
But the difficulty will increase, the grin price will fall, miners will sell, reducing the price, payback will only fall.
This has happened more than once on other coins / asics.

That is way to long for me to risk buying it. Inflationwise I expect Grin to drop in price going forward, when that were to happen second hand prices for the asic would drop pretty hard I guess.

Those 270 days suddenly becomes 2700 days ehhe and as there are no refunds for stupidity, they take your money, you end up mining at loss and they laugh at your face for years to come hehe.

They release 1000 then somebody comes after a month or so and releases 1000000 with 10 times more hashrate and they will say to you, "hey you took the risk" hehe

They have no control over the network, if 1 million people come and buy one million asics, they will sell then all those million units are put into the network and then all gone bust, they dont care about you, never did, you trolls always fell for the same bullshit over and over, at least with gpus dont have that bullshit but still they manipulate prices as they go.

trolls bought many asics before the crash and then they made 10 times less money just regarding the crash and many times more because of many more asics came to be released and in the end the company did not justify anything to older users, if they roi or not, they just dont care, they just go and sell their bullshit to you idiots.

If trolls come to you and say "hey I roi'd my asics" do not believe it, the troll wants to show a superiority and the truth is the troll is bullshiting you into the same mistake he did.

Some people can't afford to play the game so they sit on the sidelines and complain.

The first batch of L3+s roi'd quick besides that I agree with you unless you have a ridiculously low electric rate roi for asics are slim pickings