That's the one of the reasons I decided to invest in you and main reason I decided to stay with you despite your recent failure with SP30s and compensation delays. So I will invest in SP31 now.
Regarding your 3rd/4th generation plans. When are you planning to release next generation and what hashing power are you aiming for?
I'm now trying to decide if I should invest in SP31 October batch or save funds for next generation.
I can't help the urge to let you know that buying a SP-T product means you invest in your mining operation and has nothing to do with any investments in the company per se. Also, SP30 is a sold out product, being what I define a commercial success despite the lower than expected performance. Looks like you did not make up your mind yet .. Are you trying to decide still or you got SP31 on order? Your post above is ambiguous. I've finally received a compensation offer so now I can arrive at decisions about what to do next. I either invest in S-T again or Bitmain. Or both you were probably a proverbial squeaky wheel because i got no offers. did anybody else get anything? We're contacting each customer by email and it will take few days. |
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The foundation of bitcoin was built in peoples home spread across the globe.
Mining is no longer feasible at home anymore, by limiting this technology to data centres it centralises bitcoin to farms
If bitcoin is to succeed than the foundation must remain with the people, mining machines must be created to allow people to mine in their own homes.
There is nothing decentralised about a currency mined and managed by huge data centres.
I arge all suppliers of mining machines to create machines that ROI for home use (i.e air conditioned, low noise, competitive hush and affordability)
There is a huge untapped market here which would help the stability and success of bitcoin.
I agree. The problem is that it's very difficult to do these days, unless you have a considerable superior ASIC  |
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Pew pew ... pew pew...
The war never ends I see.
No war at all. I consider AM good to the eco-system, assuming they won't revert to massive self mining. I even tried to reached out several times and met David. Guy |
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Impressive. SP used to be a good company which delivered good products. Now they deliver gossips and day dream like a bitch.
You're welcome. It always pleasure to have another AM SH (Board member?) visiting our little thread. Share some gossips: What's the status of BE3500 ? Send my regards to David and FC. Guy |
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@Spondoolies: What's the ETA on September Batch 1? What order number are you at now so that we can have an idea how much longer we have to wait.
We'll start to build and ship September Batch 1 at the beginning of September and expect to finish Batch 1 by week 3. Order numbers aren't representative of the amount of time you'll need to wait. There are bulk orders and single miner orders. There are customers who delayed payment considerably, etc. |
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...
I also think you should build a farm and sell from stock.
If you are building your own farm you won't be able to afford a 150MW farm plain and simple. If you could, you wouldn't have had to take preorders in the first place.
...
Spondoolies-Tech have clear technological advantage now. We have much more impressive 3rd and 4th gen under development. I think that if we wanted to raise funds for mega farms, BitFury style, we could have done that. KNC is doing that right now for example. So are other players. BitFury doesn't need to do that, but fortunately, they are very delayed with their next gens. I don't think it's good for the Bitcoin ecosystem at all. KNC has proven track record of treating the ecosystem as a retirement fund. CoinTerra switched to self mining (and selling unprofitable cloud contracts) and exchanges to fiat heavily on the open exchanges, exactly like KNC. BitFury at least has the sense not to exchange in the exchanges (selling at 5% markup for high net-worth individuals who wants newly mined coins), but BitFury have unclear past and are partly responsible for the CEX.IO fiasco. I don't think they can be trusted not to harm the ecosystem. |
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Very important to note that aspect. It benefits everyone, except those companies, if we buy from Spondoolies-Tech like fabricators only if there are enough customers that can spread that hash rate out... are there really enough customers to do that and effectively help decentralize the network? I hope there are but the problem would persist if you have 1 or 2 significantly large customers of SPTech and I don't think you would mind selling to such customers right?
We do have large customers. The real threat is that one self-mining ASIC provider will be able to produce a killer ASIC. Everyone of them are trying. Buying from them help their deployment and R&D efforts. As I wrote short-term gain, scarifying the long-term. |
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I also think you should build a farm and sell from stock.
Our business plan is different. We want to keep technology edge over the competition and allowing our customers to beat the curve by pre-ordering our superior tech. We had production issue with our 2nd gen, which we're compensating for. I do believe that even with the first slow corner batches of RockerBox, we currently have the best $/GHs ratio in the industry. We prefer to have partners operating DCs for our customers. It's not our core competence. It also help de-centralising the network and help the eco-system. I don't think buying from bitmain, cointerra, or knc is centralizing the network but that depends on your definition. Each of those companies is mining with less than 5% of the total hashrate which is perfectly safe. (I personally think bitfury at ~20% is not a problem but some might.)
Beside Bitmaintech, I know a lot of the other players plan. If one of them will succeed, it won't be good to the eco-system. I do believe I understand Bitmaintech strategy. I suspect that one day soon they'll stop selling like the rest. (Disclaimer: I'm under NDAs) I think Dave Carlson has the right idea with his franchising program and I'm interested to hear how you will be responding to it. It's like self mining while spreading the hashrate.
Dave is a great guy. I would gladly supply miners to his program. I don't think it will succeed. It's a PR stunt for raising funds. |
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...He made Spondoolie a lot of money and he was compensated I think it was 18BTC I read...
You did an impressive catchup but both statements are untrue. I don't consider the groupbuy a commercial success. It was a good PR at the time though: - We're honoring the 200 units price pointe although considerably less than 200 were paid for. - RoadStress donated 90% of the reservation fees. I don't intend to repeat such GBs in the near future. We'll honour all our obligations including August shipping, Titan hosting and compensation for the missing hash-rate. Guy |
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That's how Bitmaintech sells from stock. They have to mine themselves so they can sell from stock. You guys couldn't sell from stock and if you wanted to, you might throw up a farm for yourself so you could. I like both companies and support is much better with SP-TECH but in the long run once you become old and cynical like me you get tired of the pre-order game. That's all.
So you're suggesting we'll build huge farms and pre-mime ourselves on customers hardware before shipping it like Bitmaintech ? mmm. Let me think about it. Let's say I want to produce 5,000 SP31 in December (just an example, not a real batch number) I'll need a 15MW farm. Ok, I'm convinced we'll build it. But if we're building 15MW, why not build 150MW? Why do I need to sell the miners? I'll do more money by mining myself over few months. I'm cynical here myself. Buying from any manufacturer with farm just hastened the centalrization of the network. BitFury, KNC, Cointerra, Bitmaintech. If one of those will think it got technology and cost advantage they'll stop selling and do only self mining. They're using hardware sell as a mean towards increasing their own farm percentage in the total network hash-rate. Buying from any of the above is scrarifying the long term for short term gain. Guy |
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So, SPT wants to be MBP franchisee? I hope, not, but the article puts two together. Corem continued by saying that the market seems to be moving in favor of centralization, but argued that other players in the space, including Spondoolies, are actively moving to keep the network as decentralized as possible. This can be seen in efforts like MegaBigPower’s franchisee program, which begun explicitly as a means of expanding the network’s capacity in a decentralized manner. Nope. We'll sell ASICs and miners to anyone interested to buy them though. It was mentioned few pages ago that MBP has their own ASIC effort. Guy |
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No method is really bullet-proof. The eeprom serial is saved in the management board. In theory, the DC owner can replace ASICs boards and create better and worst machines. I think that gmaxwell first suggested to burn the owner public key in the ASIC OTP. (Last time I saw it here: https://en.bitcoin.it/wiki/Mining_manufacturer_tech_guidelines) But I won't believe it will happen. Too complicated to implement. Guy |
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Again, as I understand it, SP-T will service all machines they built as per the warranty terms. For them if one is broken, it must be fixed, and it does not matter who owns it ..
I agree with Guy hare .. for the time being, just have the DC communicate it, and Zvi can update the MinePeon stats page to include it on the screen (below the MAC address) in the next software release. At least, when first powered up, you know what machine #ID you own. It still does not take out of the picture the "machine swap" before the first power-up in the end-user data-center, but at least you can track everything afterwards.
I admit that the method isn't bullet proof and needs to be improved. We'll look into it. Of course we'll service any machine under warranty terms. I've asked Zvisha to add the EEPROM serial #ID to UI We're working on a list of DCs we'll recommend after proper due diligence by us. Guy Edit: Note that the default hostname contains the EEPROM serial #. It begins with FL14: http://storage.googleapis.com/spond_public/images/SP-30%20Hashrate.png |
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I guess big orders have priority over "meaningless" small orders
No. Wissam didn't wait and contacted us after receiving the newsletter with the spec change. He was offered the same options everyone else will be offered. Some others also contacts us and we usually find a common ground. Next week we'll contact all the rest of the customers. We're a very small team, please be patient and let us contact you. We do hire more support staff. Guy |
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Currently, we don't email the serial ID before shipping.
It's very hard, if not impossible to implement.
We prepare the shipping documents in advance.
Flextronics select one tested machine randomly and attached the shipping documents.
Biodom, if it's important to you to know the serial, you can ask the DC owner to email it upon receiving the machine.
We'll try to find ways to improve the procedure, but it will take time.
Guy
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Looks cool  Edit: Increase your capacity. Build it and they'll come. Thousands of SP30, SP31, ... |
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I ordered 2 September Batch 1s for about $10,000 total. But I'm getting confused with batch 2 being 4.5TH when batch one was advertised as 6.0
I've emailed Spondoolies but like others I've not had any reply yet. Anyone know what's going on? Are the batch ones really 4.5TH and not 6TH as advertised before? What happened to the product page of the sold out batch 1 units?
And if they're not going to provide what was promised, how do I proceed to get a refund?
September's SP30 are 4.5 TH/s +- 5% on 220V You should have gotten the newsletter: http://www.spondoolies-tech.com/blogs/news/14979953-introducing-the-sp30We'll contact all the customers during next week with the various compensation options, based on preserving the $/GHs ratio and compensating for the missing GHs Guy |
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Wissam,
I went over the correspondence and I did see that you've requested to join the GB Titan DC offer and we refused.
If you want, we can add you. A better option will be Minersource or Toom.im for example.
Both of them give remote access to the miners.
Guy
Edit: We seriously considered changing from Titan to one of the above options. We decided against, not to break a promise.
Both of those options provide better deal.
If you can please outline the costs involved in these for me to compare that would be helpful. I'd like a comparison to understand the on-going costs and I want to know if those hosting services are endorsed by Spondoolies and if they will be updating firmware and looking after our devices to provide the best efficiency of the machines the same way that Spondoolies does, because I don't have the time to be logging into my 25 units (Plus the more that will follow should I become a happy customer) and worrying about if something goes wrong I have to pay shipping back to Spondoolies for repairs and all that stuff etc. Also I know that when there is down time due to device issues or hosting issues Spondoolies will put up extra machines to cover the downtime, I don't know if other providers do that, I don't think they do because they won't have the machines but you do. These are all reasons why I wanted to stick to the original plan of hosting with Spondoolies to begin with. I'll let toom.im and minersource reply regarding their offering. You already know the Titan GB offering. We're giving compensation for down time (not part of the SLA) because our DC isn't yet up to the standards we want. I don't believe that someone else will give you compensation for down time, but much less down time is expected. Edit: going to sleep. |
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Wissam,
I went over the correspondence and I did see that you've requested to join the GB Titan DC offer and we refused.
If you want, we can add you. A better option will be Minersource or Toom.im for example.
Both of them give remote access to the miners.
Guy
Edit: We seriously considered changing from Titan to one of the above options. We decided against, not to break a promise.
Both of those options provide better deal.
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