@ Bitfury debate
At the end of the day it doesn´t really matter who deploys the huge farms.
As long as there is money to be made, farms will come online. If the smaller miners can make money, the bigger mines can make even more.
At some point, difficulty growth will settle where income from mining equals the power costs of gear + a small "profit".
I purchased the sp30 in the hope of staying ahead of the game for some time, but the 60% higher than promised power draw really cuts deep into my profits.
I am interested to see how spondoolies will compensate this.
Yup. That calculation has to be made. We took a risk based on 'guaranteed' specs and knowing that SPTech has always taken care of their customers up to the this point in time I am bullish on them continuing to do whatever it takes to keep that record going. There are many ways to skin the cat on this I am interested in what finally comes out as compensation. Either way I am grateful at least for the honesty. I am also grateful they resolved the issue so that future chips will be better and more in keeping to the specs they initially proposed. Given the players in the marketplace you can rightly put trust in this team as they are on the ball. Error was admitted. Error will be corrected. Error will make them more diligent in future to avoid this very problem yet again come the next generation chip. There are only a few players in the market place that produce a quality product and deliver on time. There are even fewer that admit their mistakes openly and immediately and then find the problem and offer up the solution to the customers. If you are still in the market for miners come 2015 Spondoolies Tech is still one the best to buy from even after this "failure". Even with the calls for people NOT to pre-order the SP30 with the compensation for me is still the best buy I could have made in May for this type of machine power and hash rate wise although as said power and hash rate hit has definitely impacted the results making it less pretty than it was at 6 Th/s machine with lower power draw. Will I pre-order in 2015 on their next chip? We will see what the market is like... with more and more hash power coming online in ever larger farms the market has changed significantly in the past 6 months. The next 6 will make mining unrecognizable to the small miner unless they start pooling resources. Also who will still be selling chips / miners to the public in 6 months will certainly be a concern if anyone is still buying miners in small batches at that point. |
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Hi, I noticed that the third and fifth modules are not lighting up? Why is that? The 1000W PSU is not enough to support 5 modules? Hey everyone, I wanted to make sure and get back on here (after leaving a not-so-positive post last week) and let you all know that Ry and nTek/RevUp's 1.2TH Miner should be added to the list of reputable companies/machines. I phrase that comment carefully, because while I would gladly say the aforementioned, note I am not endorsing their company or products just yet, as this only fulfills the first half of the (nTek provided) agreement. I would like to mention here that I do not work for, have stock in, or are in any other way affiliated with this company other than purchasing equipment from them, but I would like to say that nTek has offered a very transparent (and unique) ROI agreement with the group of investors that backed the company from the beginning (of which I am one), and that have stuck out the [grueling] six month period of setbacks and delays. I will not go too much further into detail because the agreement terms would limit that, but I will say that this company has offered something that NONE of the other companies in this industry have even considered - an agreement that makes total sense and compensates 100% of lost mining time with what would have been mined by the equipment purchased. Now back to my original statement of non-endorsement - this compensation is yet to be realized, but I have no reason to believe that nTek will do anything other than [continue to] fulfill it's commitments. I mean after all, Ry has put himself and his parent company (RevUp Render), way too out in the open (home addresses, cell phone #'s, social accounts, etc.) to make a group of people within this community unhappy. That said, I would expect that after all commitments from nTek (in regards to ROI for LMT) have been fulfilled, I would then endorse their company and tell other Bitcoin (& alt coin) enthusiasts that may be interested in investing in their equipment, to do so. Until then, I would invest with them with the understanding that they are still working through satisfying their first batch of purchasers and it may be some time before receiving any equipment from them. I have waited (very patiently) for over six months and [finally] received my miner on Tuesday, 07/22/14. After some struggle adding it to my pool (surely user error), I have been up and mining now for about 18 hours and am averaging about 1.3TH/s Those who have received their miner from nTek are likely feeling about the same as I have explained here and I would tell those (from the first batch of purchasers), who have yet to receive their miner that it is likely on its way. I am glad to see there are a few others out there that did their homework before purchasing and felt confident buying from this company and making the decision to stick it out - I believe the ROI for LMT will prove this was a great investment and I for one, look forward to working with nTek in the near future to increase my mining capabilities. Here is a current pic (taken today 07/24/14) of my nTek miner:  Thanks and Happy Mining! -BS Heat sinks on the other side... so light is facing away from the camera? Why would those boards be inverted? Is this the actual design? I thought it was more like this:  *Product design may change slightly due to improvements. |
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Gees... This seems bad, however I have to wonder how long this can be sustained. There are so many what ifs I guess. I wonder how much they are deploying at a time.
BitFury rhythm is about 10-20MW every two months. The 25% three jumps ago was their 20MW Georgian DC. Not so long. Their hardware is outdated. They wasted too much time playing with LightFury (scrypt 55nm ASIC). List of recent failures: - Still didn't TO their custom UMC 40nm effort (AFAIK, unconfirmed) - Scrapped big 28nm ASIC on Thermals. They got burnt from big ASICs and keeping the small ASICs design approach. - Scrapped 20nm custom ASIC effort. "Too complicated and takes too much time". Straight from the horse mouth. - Starting again a fully custom 28nm ASIC Loool, you just failed yourself in a big way and still have a big mouth pointing at other companies. Better care for your own company.... Never seen a company talking so much bad about others as you do. Thats not the way to do business. From all the ASIC companies, BitFury is the company I have most respect to. Good tech, usually very smart moves. Self mining on a much larger scale than KNC, which I find very problematic. BitFury is a good competition. They have 1.5 years head start on us, and daily revenues of $0.5M We like the challenge. Revealing some of the stuff going on behind the scene is bad ? I'm giving the customers more information, so they'll do an informed decision. Indeed, we had a production issue. RockerBox will fulfill our expectations in October. Going to sleep, Guy Nice to have competition and being aware of the T in the SWOT hope that will push you on to a more efficient and cheaper chip! 2015 will be a watershed especially if BTC price fails to migrate up. |
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Dear Customers,
After a close inspection of the first ASICs, I'm pleased to announce that the ASICs are fully functional. Made from industrial grade, sophisticated hardware, the SP30 is now the best mining rig available in the market.
For units produced up to and including September, the SP30's hash rate will be 4.5TH/s +- 5%. Power consumption will be 3KW at the wall.
With additional tuning of the production process for October and onwards, we expect future SP30s to deliver a hash-rate of 5.5 +- 5%, with power consumption of 3KW at the wall.
For customers who have already placed orders and are awaiting delivery, our priority is to ensure on-time delivery of your machines so you can immediately start seeing ROI. I am therefore very pleased to report that we will meet our original delivery schedule and provide all customers with on-time delivery.
For customers receiving units before October, we will adjust the price of your machines consistent with the 4.5TH/s +- 5% hash rate. Compensation will be based on preserving the $/GH ratio of the original deal. Starting in October, we will compensate you for the differential in hashing power according to each customer's preference. We will contact each and every one of you over the next few weeks to discuss your preferred method of compensation.
As always, we are at your disposal for any questions or inquiries.
We sincerely appreciate your loyalty and support as we continue to develop the world’s best mining products and services.
Best Regards,
Guy Corem
CEO
Thanks Guy. I look forward to hearing from the SPTech team soon on the compensation. |
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I think there is an inherent demand to put everything in numbers. Which camera is better? For most people this is the same question as "Which one has more megapixels?".
A summary like this one is very helpful for new users, but it should not give a false sense of security, which too much "numbers" and "ratings" may do.
It's ok to list things like "uses own chips" etc, but after all it boils down to one question: "Safe to buy from this vendor?". Which would be "Yes" for companies that deliver on time (even when they offer preorders) or "No" for companies which do not deliver on time, do not honor refund requests etc...
Of course you put much work in this, but maybe you consider this for the next version of your guide.
+1 You can boil this down to a personal recommendation. I think there are only 4 to 5 companies that have produced and delivered in a reasonable time frame most are Chinese and one is Israeli. All others have had issues and would warrant NOT doing business with them. Agree that these 'numbers' could be misleading and agree with pure deliver nature and potential compensation of slightly off target or late delivery as the real value of measuring any company providing miners. For me I would only recommend those without customer issues or issues that were completely RESOLVED. Unfortunately this guide doesn't take seriously enough the threats to customers posed by any number of complaint threads. One can just as easily save yourself the hassle by avoiding any company with a checkered past with regards to shipping or customer service failure which remain unresolved. No need to risk your coins on anything that even has the HINT of shady venture given the other companies are shipping at a reasonable clip. |
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We'll release a statement later today.
Shipping will begin tomorrow.
Guy
Thanks Guy and SPTech. Looking forward to the news. |
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This is truly the time when we will see what kind of company they will be. When stuff goes a bit sideways how do they react? I hope they do the right thing by you guys. We need solid, honest companies in this industry.
Agreed. Although there are plenty of examples of how they have been there to help their customers in the recent past so that is why I put my cash down on the SP30s. Time will tell but my assessment was that they would, should something go sideways like this, fix it so that customers would be limited to the exposure. This is a major snafu but I suspect customers will be made whole. People will be review the compensation but I suspect it will match the 6Th/s that was promised... I don't see this being a major issue moving forward. When they do resolve these issues it will make them stand out a leader in the marketplace along with Bitmain and ROCKMINER that have satisfied customers when things went slightly sideways. |
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...
If each chip pulls double the wattage that it was supposed to, do you think they made sure that the copper layers in the PCB can handle the extra load? Can the rest of the components handle the extra load?
...
Please avoid rumors and speculations. We'll release all the information in few days. Let us complete testing and firmware tuning. I can share that we have stable systems (plural) in our labs. There is not PCB issue, etc. We've designed with enough headroom. We'll ship the orders on time. I can also share that we're zeroing on the issue and it's a TSMC production issue. Future batches (October) will meet our desired spec. Guy Thanks for the update. Looking forward to receiving the SP30's in August as scheduled. I trust that you and the SPTech team will do all it can to make us customers whole. |
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Trust no one.
Problem solved.
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WoW> I wonder how hard the fucking will be in this case.
I am hoping that 5th at .6 watts will be the end result.
To all that ordered I hope that you get your gear quickly.
I also hope that you get 5th and .6 watts. good luck to all
Maybe 4TH at 1200W but we get two of them  he already said-no Dayum, just saw that. Ah well. Maybe the coupon route ala Bitmain. If I know anything about Spondoolies in my dealings with them so far they will move mountains to make their customers happy.
I have had nothing by excellent service and over the top compensation for anything that went even slightly amiss in my dealing with them.
Let us see what happens but yes there is little to point to in their brief history that would make anyone think they would short their customers. At this point they have stated this won't affect delivery dates. So let us wait to see what the numbers are and what compensation will be allocated. No way Bick, what we need is rampant speculation at this point, this is bitcointalk after all  Meh... I am good. Let the SPTech give us an update. Given that they are pretty much the most transparent team to build miners yet given they admitted the problem. Stop sales and are working to give a complete report the FUD as always is just a minor distraction. Should this drag on months or closer to a year then you could make comparisons. Nothing I can do as a customer but wait for a statement post test. |
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If I know anything about Spondoolies in my dealings with them so far they will move mountains to make their customers happy.
I have had nothing by excellent service and over the top compensation for anything that went even slightly amiss in my dealing with them.
Let us see what happens but yes there is little to point to in their brief history that would make anyone think they would short their customers. At this point they have stated this won't affect delivery dates. So let us wait to see what the numbers are and what compensation will be allocated. |
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Yes ... Relax ... Sponds have chips to play with now or real soon (tomorrow?), and give them time to tweak the SP30s to early perfection (future firmware updates will make life better) given past performance.
I'd rather receive my pre-orders a little late with a nice 6TH/s, than have machines that perform average.
Ummm no... I would rather they deliver on time and then update the firmware as they have done previously. Let me clarify. Israel is not Gaza and Spondoolies is not going to be affected by this situation at all as there there is nothing that Israel can't handle with regards to this conflict. The idea anyone would worry about Spondoolies having any issues is simply ludicrous given actual situation on the ground. The only issue I could see would be refusal to allow the importation which could be problematic for a few countries like Malaysia, Indonesia etc... but that would have been a problem before the latest round of violence in Gaza. This is not the first time nor will it be the last time and that is unfortunate. Pure FUD either way since this doesn't affect business in Israel at all. They will ship on time barring any issues internally to SPTech not on what is happening in Gaza. |
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Hi SP-Tech's team, since you will have the chip on tuesday, any information about the estimate date of delivery for early august ? as well as the WA datacenter hosting opportunity for non group buying ? (i think i'm not the first to ask this question, but .... TLDR  ) Thx ! Early August will be delivered until around the first half of August :p As there are around 500 units in early August batch, it will obviously take some time. early august batch you mention above is that the group buy batch? or is that the 2nd aug batch...? or is the group buy on here august batch just mixed in with the regular august ordrers for the whole month according to payment...wondering how that all works? Searing All orders taken in by SPTech are based on time you paid. So shipped out based on that time stamp from the TX ID. I suspect my order will ship in Mid-August based on what was represented when I ordered. There were clear statements as to the capacity of production and the order queue. Feel free to read through the GB thread. https://bitcointalk.org/index.php?topic=575499.msg6287571#msg6287571Quote from: bobsmoke on April 19, 2014, 04:21:03
Sorry to ask but to get it clear : How does the queue position works?
The queue position is based when the 0.1 btc per machine was sent?
Quote from: Roadstress April 19, 2014, 04:55:40
Yes. The queue position is based when the 0.1 btc per machine is sent. MY PURCHASE FORMS ARE SUBMITTED BUT I HAVEN’T PAYED FOR MY ORDER YET.
IS MY PLACE IN THE SHIPMENT QUEUE KEPT?
An order is not considered complete until payment is made.
If you are paying with a wire transfer, make sure you get a confirmation note from us. Maybe SPTech will revise the timetable or clarify for SP30's customers the shipping queue soon but it has been clearly stated that payment time is the placeholder for all orders. The GB queue was held with the 0.1 BTC payment in the Roadstress GB. Full payment was required to secure a spot when ordering direct at the SPTech site as per the FAQ. |
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jimmothy is just bitter because ASICMiner botched the design of their Gen3 chip and ended up with increased power usage and a chip that is no longer competitive with Bitmain. The ASICMiner Gen3 miners I've seen to date look like amateur, second rate products compared to the S3. ASICMiner shareholders are very biased and seem to lack objectivity when looking at the current mining landscape.
It looks like folks who gambled on the Roadstress SP30 group buy may end up having their bet pay off. I still very much doubt that a SP30 for 5k with a September delivery is a good buy, but a 4.5k SP30 with an early August delivery is looking like a very good buy.
Simulations are one thing, and final performance often differs from simulated numbers, but it sounds like we'll know if the SP30 performs according to specification within a week.
Very fair assessment. Again if buyers can pool their monies a better price can certainly be had directly from SPTech. Buying individual units for home use is not the right play moving forward given the power requirements as the primary limiting factor there are certainly others that should dissuade people from buying any miners at this point if your biz model is simply to mine back your investment. Pay in dollars as everyone says. Looks like we are at the beginning of another UPward trend in BTC. Hang on to your hats. If you are not looking at building out larger and larger mining nodes then you might not have the right outlook unless you know something about a sha256 altcoins (gambling on alts) vs. bitcoins or are looking to build an ASIC rental farm or some sort of variant of that, you know they are popping up all over the world at the moment seeking the cheapest rent and power they can. |
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---- snip ----
Never bought KnC and that is way off topic since we are talking about SPTech. Have yet to see SPTech cause a single customer grief and not fix it somehow to the customers satisfaction. I have 2 SP30's on order and I am hopeful they will deliver as promised. You seem to think bashing / questioning SPTech's business practices is relevant? I go off what they have shown to the community not on what you think is right or wrong. I value that SPTech has met all their obligations and made all their customers happy so far as I can tell. That is the bottom-line. Here is hoping I am just one more happy customer and at this point there is zero evidence to support they will fuck the SP30s delivery up. There is however plenty of posts from you trying to get people not to buy SPTech products. I wonder why? |
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I guess you forgot your own praise for me getting 12 TH/s for 9K. Well ok I guess you are sad about AM shares. I guess that must be it. I personally do not get all the FUD directed at SPtech. Anyone with calculator can figure out what is or isn't a good deal. I got a decent deal. Hopeful August delivery is on time. I have faith that SPtech will do what they have promised. If they deliver as promised then I am ok with my 9K invested being set up in Norway hashing away as part of the hosting / pool etc we are setting up there as our first node. Not the only iron I have in the fire Jimmy. I am not sad if SPTech does well like you seem to be and that shill like behavior smells a bit to me. Why all the hate?
---- snip ---- It is not bad business when you deal with people that actually deliver as promised. Was it bad business to gouge people price wise? Let me say it again in this thread like I did another, you didn't seem to me to be the consumer advocate when those numerous group buys, of some people selling AM products, were most clearly profiteering off the community were you? Funny eh? Seems to me you are protecting your own interests rather than being a Ralph Nader'esque' crusader for the little guy. You do know we see through this right? You are not fooling too many people with this attack guised as consumer advocacy. |
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No I mean 8 thousand 9 hundred and ninety-one dollars. Did I buy BTC to pay for my unit? Did I buy BTC in 2012? Let us just say I am ok with the 9K I spent not the 20 BTC you think I spent.
I shopped for a GOOD deal on the Group Buy threads found a great deal... do you need to? I didn't say that I am just sharing what I did.
Jimmy... seriously if you don't like my good news that is ok... but rewording or skewing what I post doesn't really detract from the good deal I got. What can you get now? I don't know let me know.
---- snip ---- I guess you forgot your own praise for me getting 12 TH/s for 9K. Well ok I guess you are sad about AM shares. I guess that must be it. I personally do not get all the FUD directed at SPtech. Anyone with calculator can figure out what is or isn't a good deal. I got a decent deal. Hopeful August delivery is on time. I have faith that SPtech will do what they have promised. If they deliver as promised then I am ok with my 9K invested being set up in Norway hashing away as part of the hosting / pool etc we are setting up there as our first node. Not the only iron I have in the fire Jimmy. I am not sad if SPTech does well like you seem to be and that shill like behavior smells a bit to me. Why all the hate? |
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Welcome back! Just in time to celebrate the AM shares going down to the original values. AM shares at initial levels? Ouch. |
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$8,991.00 for August Delivery. 12 Th/s.
You mean 20 btc? Seems fine to me should make back what I paid. Ordered May 03, 2014. Just have to shop smart for the Group Buys.
You don't even need to shop for special group buys forum exclusive sales. You could always just order in stock hardware from bitmain or btcgarden as you know they won't be ripping you off when you order directly from the site. No I mean 8 thousand 9 hundred and ninety-one dollars. Did I buy BTC to pay for my unit? Did I buy BTC in 2012? Let us just say I am ok with the 9K I spent not the 20 BTC you think I spent. I shopped for a GOOD deal on the Group Buy threads found a great deal... do you need to? I didn't say that I am just sharing what I did. Jimmy... seriously if you don't like my good news that is ok... but rewording or skewing what I post doesn't really detract from the good deal I got. What can you get now? I don't know let me know. |
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I just wonder how they can do this:
The claim is this: Using smarter code, and better physical design, he explained.
“I have a non-standard implementation of SHA-256 [the cryptographic software algorithm used by the Bitcoin protocol], as well as a very good physical implementation of the engine on the ASIC,” said Corem.
One thing he claims to have done is reduce the ‘toggle rate’ of the chips – meaning the number of times that the tiny electrical components have to switch electrical state.
If they deliver as promised, I guess it's true. http://www.coindesk.com/spondoolies-tech-promises-power-efficient-mining/Its worth remembering that Bitfury made a 55nm chip capable of 1w/GH and about 2.5gh/chip. The 55nm rev. 2 improved the hashrate by about 15% without any increase in power draw. smart chip design does a lot, as does choosing how to run the chip (Bitmain 55nm can use between 2w/GH and 1w/Gh depending on clockspeed and voltage). There are multiple ways to design a chip to hash SHA256, and I firmly believe that spondoolies-tech has designed a very capable ship based on the SP10's efficiency my guess is the sp30 will deliver the good in terms of watts. I have always thought they sell great gear. The preorder time makes them a very tough purchase. $8,991.00 for August Delivery. 12 Th/s. Seems fine to me should make back what I paid. Ordered May 03, 2014. Just have to shop smart from the Group Buys. |
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