Excellent product at an excellent price.

This is much better and more reliable than the other wire shorting adaptera and paper clips.

Today the price of batch 5 for the S3 when from 0.64 BTC to 0.66 BTC and then a few hours later to 0.68 BTC.

Even though difficulty keeps increasing, this price increase does not make any sense.
based on https://bitcoinwisdom.com/bitcoin/difficulty the next difficulty increase will be over 5%

The only thing I can think of that may have caused the increase is that the S3 is really priced in dollars converted to Bitcoins, because the Bitcoin value drop from about $600 to $560, then Bitmain to continue receiving the equivalent in dollars increase the bitcoin price.

But if this is the case that attitude is wrong because the miners do not generate dollars they generate Bitcoins, and that is a clear way  of reducing the ROI for the miners, thats like saying we are having a loss ( really it is having less profit not a loss) and we need to increase our profit but we do not care about your profit, and that is not ethical and creates a loss-win situation.

The correct attitude for Bitmain would be Bitcoin is going down, well the miner is also generating less, if he wins we win, but it seems that is not the line of thought.

I worry to some degree since I have seen changes in attitude, for example KNC last year they look like they were a great company and by a sequence of small changes they completely transformed themselves from good to bad, they simply do not care about the miner and only a year ago they gave a completely different impression.

Right now Bitmain is the best, but I have seen changes that do not look good and if this continues they could become the next KNC, for example when Bitcoin drops the price of S3 increases which makes no sence for the miner since the S3 is a bitcoin generator the only case which could justify a price increase where to be if the actual cost of making the miner increased but that is not the case, a short time ago they were selling from stock, now they are pre sales, 1 or 2 week pre sales but nevertheless pre sales, and when the s4 is releasing this time frame could increase, to lets say 4 weeks, so that is also a step in a bad direction.


If Bitmain whats to stay on top, they must think and always have an environment that creates a win win situation for for them and for the miner.

They should go back to sell from stock, and ship within 48 hours.
They should drop the price accordingly to the difficulty increases, 10% difficulty increase then 10% drop in price, but should not try to profit at the expense of the miner.
They should always take into account that the miner must ROI, not that he/she may ROI.
As of now the S3 may ROI, nut that it will ROI, there is a risk, that risk should be shared.

Bitmain is in a unique position that they could go to being the best or take the same route that was taken by KNC, only time will tell, but recent indications like the price increase and still no selling from stock tells me they are taking the wrong route, the same patch that was taken by KNC, but it is not late we all make mistakes, I just hope things improve.

Today I like Bitmain, just as I liked KNC a year ago, but because I see a similar pattern I worry, since only a year ago KNC was like Bitmain is today, I just hope that a year later Bitmain does not become like KNC is today, I did not mention BFL since that is an extreme case it is really hard to be that bad.

I hope if Bitmain can clarify if the S3 are internally really prices in dollars and then the price converted to Bitcoins, since I really do not see what could have caused that price increase, I was actually expecting a price drop due to the 1 or 2 week window of pre order delay and the current difficulty increase.

This last price increase is at the expense of the miner.

It was $350 shipped for a gallon of the Novec 7100.  I used a couple of peltier chips and some heatsinks to condense the Novec.  It worked and dripped back down while it was running.  I have a much bigger tank on the way with some large radiators installed for the final unit.

I'd take some serious time learning more about bitcoin before you invest a cent. The difficulty changes after every 2016 blocks.  Here is a list of the historical increases.

https://bitcoinwisdom.com/bitcoin/difficulty

In the last 6 months it has gone from ~3 million to ~19 million. SO NO WAY you will be making anything close to $1.6/100GH/day in 6 months.

You think your son and his roommates is gonna be thrilled about the noise/heat it creates?

Shutting down the s1 is not a good idea if it can still mine coins at lower cost than electricity as the only constant is increasing difficulty.

Basically it depreciates at every difficulty jump.  So mine it now before it is obsolete

figured it out...

Apparently you have to put in a password AND you must fill in all 3 pool's, otherwise no data appears in miner status...

Anyone know a couple of good pools I should use for backup?

That's why I just wanted to buy with PayPal as it's my first miner and I just want to have bit fun and not too serious about getting into bit coins buying and selling at this stage.

Thanks.

I'd just order from BitMain at bitmaintech.com/product.htm. They're based in Shenzhen and they will get you Batch 4 quicker than anyone since they produce them. We can all vouch for them. They are one of the very few manufacturers that are decent. The vast majority of them are scammers or quickly turn into them.

Time to do my happy dance!!

My S3's from Batch 1 just arrived....now to go to work and get them up and running

Congrats now you will make 8usd per s3,money well spent huh?

I'm with you on this. I quit making $$ spent entries in my race log after I broke into the six figure bracket, that was 10 years ago. So far I'm into BTC for a $1000, and have $100 back.

I cant understand why people are purchasing s3's, the return at the current difficulty is 8usd aday, about 50 week and you spend 468.5 usd??

How are you going to make your money back, not forgetting running costs...

Just got my two S3's in today, and plugged them in and set them up.

They are both configured to run at 218.75 Mhz from the factory.

For whatever reason, one of them runs at 425 Gh/s and the other runs at 408 avg. The 5s averages are higher. Maybe it will be better when they are "broken in"  

I put them both on an 850W power supply I had, but they both turned off, and started hashing at 26 Gh/s. Then, I put each on it's own 800W power supply, and that seems better. Only using 2 PCIE connectors so far.

Might be the voltage on the power cord coming from the garage might have dropped due to the 100 ft length...

Running out of power in the basement....

Number 1) is why I don't use paperclips.  It is also why I don't use the server psu's.

_______________________________________________________________________________ ____________________
  If I mined my gear exclusively  until it died I would use paperclips.

 I still would not use the server psu with a breakout board. A   simple explanation  for me  I max at 8 to 10 s-1's or s-3's.

 Evga 1300 watt,  seasonic 1000 watt plat seasonic 750 watt plat all have really long warranties.  

I have been mining for 28-30 months.  They pay off in under a year as they all use less power then the server psu's.  

If the mining game fully dies I will use the psu's in pc builds

I have had the seasonic plats for a while started using them  with my gpus.  they are paid off  in power savings. The evga won't pay off for about 5 more months.

so should I just file a dispute now ? Wont they just try to contact the seller who will say, they item is not for sale until 30/7 so wait ?

damn I feel bit foolish now !