I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair.
my denial is in a different form....'everything' is a bubble...the stock market is next....a normal recession/correction is 20% with Trump and other issues in society ..I expect at least a 40% recession...thus IF BTC is a store of value like Gold...MAYBE..it will simply, when the above happens, simply go sideways in price or up yet (like gold maybe) So ..figured my retirement (traditional) and crypto (best guess at say 3k BTC) and knock wood ...stay out of debt..income is no worse than it was before I was in crypto... so calling it a win and moving on... again, too much weird ass, denial crap, in society and business and gov't going on ...sh*t IMHO is going to hit the fan.. If I'm wrong, I'll have 2x the money I expect in everything and will be pleasantly surprised but...really not thinking that is gonna be the case (could be worse....w/o crypto I would not have retired 3 years early and thus not be able to whine about above..man would I be frigging freaking out if that was the case... likely to be pro-active I'd be looking for a 2nd part-time job on top of full time job..just to be proactive...so shudder..it is not that bad for me anyway....crypto 66% dump in price or not my 2 satoshi's brad I think that I understand what you are saying. If you retired at $10k per BTC, and you calculated that you need at least $1k per BTC to be safe, then right now, you have 6x the minimum, but if you needed at least $10k to be safe, then right now, you are panicking. So the situation is a matter of perspective and proper planning, rather than getting pissed off about a current price that it still quite a good price, given where the price was at 3 years ago (at $250-ish) or 2 years ago (at $600-ish) or even one year ago (at $2,500-ish). yeah, more or less worse case scenario is what I was doing above...IF crypto has legs and BTC etc and does NOT go tulips..it will be hard for me to fail...even if it goes 'tulips' and all is worth nothing... I retired 3 years early due to crypto so wtf... so just 1/2'd everything.....and HOPE BTC acts like gold and goes sideways in price or up on such a dire situation...and even with that .same income as when I worked...used crypto (now) to bridge the gap till at least 65 (can use IRA $$ from work at 1/2 value to get thru last year to 66..65 has Medicaid that is a 14k no longer health insurance bill for the year) and again.traditional investments (beyond the above IRA I could use as a stop gap) and i can burn all my altcoins and the worse case still keep BTC hoard left and no change in income all the way thru...assuming ... I still have no debt as of now so ...if it is no worse than the above....as long as no debt I can 'boringly' chug along and my previous 30yrs more or less buying power for income per year..save the BTC hoard for better times...and if it all goes tulips... I have a plan to make a shelf covered with tulips with paperwallet btc wallpaper and a couple ASIC miners ...as my 'shelf of shame' (always best to have a backup, denial self...IMHO) So, with that figured out...less angst and more WTF I have no idea what is going on with crypto/society/politics etc...and can hopefully just ride the whole mess out again, too much angst, we are gonna get hit with a pretty hard recession IMHO, thus if above is the floor/bsmt hopefully I'm pessimistic and it is all up from here the main thing is stay retired..for next 2.5 years or some such left...anything else from that is gravy in these uncertain times...even if I have to burn all my crypto and BTC till full retirment ...not working for dicks will be a 'reward on to itself' ....(perspective) brad |
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All I want is SIA to stay alive, I bought a couple Obelisks and even a Minebox to support the network.
If SIA can make what they envision work, it's only time before profits can be made.
It's a big IF but I'm happy to wait and see what happens.
My problem is the deafening silence of them with the ASIC's supposedly released next week.. also, the minerbox was late right? Are you making even enough with the minerbox to cover electric at least? (grasping at straws here) want to be wrong but: 1) vague email about how hard they are 'trying' to get the Obelisk units out...2 weeks before they come out (sounds like a stall for being late) 2) no INFO on how they plan to compete against Amazon cloud at their 10c to $1 difference in price and centralized vs decentralized sia-tec vision...where is the hype? do they expect JUST to turn on the ASIC's and Amazon Cloud just rolls over and dies? No one using this kind of storage in mass every got fired for using Amazon Cloud. so how do they get market share with NO noise...(ie deafening silence on this) 3) and of course the fact that current siacoin price it is IFFY if they are even worth turning on...def not worth paying shipping and setup and data hall rates IMHO whatever, we will be the first to know...I guess brad |
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I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair. I will avoid falling into a bottomless pit of despair.
my denial is in a different form....'everything' is a bubble...the stock market is next....a normal recession/correction is 20% with Trump and other issues in society ..I expect at least a 40% recession...thus IF BTC is a store of value like Gold...MAYBE..it will simply, when the above happens, simply go sideways in price or up yet (like gold maybe) So ..figured my retirement (traditional) and crypto (best guess at say 3k BTC) and knock wood ...stay out of debt..income is no worse than it was before I was in crypto... so calling it a win and moving on... again, too much weird ass, denial crap, in society and business and gov't going on ...sh*t IMHO is going to hit the fan.. If I'm wrong, I'll have 2x the money I expect in everything and will be pleasantly surprised but...really not thinking that is gonna be the case (could be worse....w/o crypto I would not have retired 3 years early and thus not be able to whine about above..man would I be frigging freaking out if that was the case... likely to be pro-active I'd be looking for a 2nd part-time job on top of full time job..just to be proactive...so shudder..it is not that bad for me anyway....crypto 66% dump in price or not my 2 satoshi's brad |
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Hi, guys! It's really good business.
Noticing project, classy website.
got to love the newbie posts, ignoring the previous post, and posting anyway! |
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Project dead?
pretty much...if they had scrypt-n yet they could at least do as well as fujicoin is now. They blew it. |
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boy i'm i glad that i didn't order any
You got that right! In my case I took a 33% hit after what I would have paid in IRS and State Taxes and the Equipment Deduction in 2017...Still sucks. My only other 'comfort' is I likely would have HODL BTC anyway, so at a 'real' 1.11 BTC loss...it is kinda 'meh' at this point this year. (I have 5 in the wind) IF they would have forked the coin 'away' from Bitmain, we MAY have had a shot at profit...but without that and current prices and in my view the unlikelyhood of them having the 'vision' of the decentralized network to compete against Amazon Cloud available (you'd think you'd here something in the press if that was coming) ie...doorstops indeed! Below is the price as of this moment you would make on an Obelisk Sc-1 today. Using What to Mine Calculator at https://whattomine.com/ for those who want to put in their own electrical rates (rather than my 'ugly' 14c kWh) OK. So to move on, at what an Obelisk SC-1 is supposed to work at, 800gh and 500 watts at my HIGH 14c kWh, I get the following: $2.91 a day. The electrical use is $1.68 per day. The profit per day (as of this moment) is $1.23 per day. I also got the email below from Obelisk...saying how HARD they are working, usually you get such emails from ASIC folk, when it is unlikely to make the deadline on shipping. (July 15th, 2018). The Obelisk Email received below. Quote: Delivery Update Quick update on deliveries: we have made a lot of progress, and everything will be arriving at our manufacturers next week: bare PCBs to assemble into hashing boards, production ASICs, power supplies, fans, and more. We will start assembling units next week, and aim to start shipping to customers on the week of July 16. It will take about two weeks to build and ship all Batch 1 units. We will have hashing boards with production chips assembled on Monday, and will be immediately testing for hashrate. We will update you as soon as we have hashrate figures. We will also send out a more complete long-form update at the end of next week. Our main challenge right now is firmware, and our team is working diligently to complete and test the firmware. After shipping, we will continue to release firmware updates that should further improve unit performance. Thank you so much for your support! Please let us know if you have any questions. Best, - Team Obelisk Copyright © 2018 Obelisk, Inc. All rights reserved. Unquote Thus on (1) OBELISK at my ugly, high, 14c kWh electrical I would make $1.23 per day or $36.90 per month. This is 'hardly' encouraging IF they do not have the 'supposed' decentralized network available from siacoin as their vision of storage, up and ready to go. Gonna be a lot of ASIC's (less the Bitmain units which are already too expensive to run) driving up siacoin difficulty...thus, if price of siacoin is based on 1) scarcity and 2) the belief in the siacoin storage method....IMHO, the price is gonna take a big hit, and we are gonna have a crap load of siacoin from these ASIC's with no other use on top of a complete price dump. Of, course, if they are 'late' on shipping the Obelisk Units..say August 2018, it may not matter. They may never be profitable enough to run and simply stay in the box. But I find in it interesting on how Sia-Tech has not been talking about 1) if their network is ready and 2) from the email, the likelihood of another delay on shipping. Again, when your Obelisk's arrive, be sure to leave them 'unopened' in the cardboard box, they will work much better as 'doorstops' within the box, due to the slippery nature of cardboard... live and learn brad If it makes you feel better at 14 cents KWH you would be losing money with an S9. I didn't order one of these but honestly what I think Obelisk should have done was simply cut their losses and refund everyone the money they hadn't spent. Obviously some went to development but if these things still aren't released yet its not like they spent it all. No ..the reason to fork the coin made perfect sense, back when Bitmain made blake2b miners, the catch is what Sia-Tech made in Bitcoin at the height of prices in 2017, probably allowed them to completely make all their investment back on the development of these miners and their production...with BTC left over. So their ass was covered, why worry about those that bought into them needing the ASIC's for their decentralized network. IF it was all about the network, they would have simply forked. But again, I suspect they were heavily invested in Siacoin 'despite' what they say about price not mattering...and got their ass covered by the BTC kept and held from these ASIC's. If this is 'not' the case, the sensible thing was to 'fork' and use these new tokens with their own equipment for control of their own network. The only way that makes sense that they did not fork and let Bitmain and others call the shots, as a result, their entire concept is tied to Siacoin and the current price, based on scarcity and their network vision working...and it looks like the whole works is gonna come undone, when the ASIC's ship, again IMHO...but hey, they made their money on Siacoin and the BTC from the Obelisks and have enough for their high paying jobs etc....there are lots of products like this...don't matter if they fail (every ICO ever made as an example) if all the 'risk' is at the front end, and the actual idea or product does not work at the other end....a shift of risk as it was to others....anyway, what it is looking like to me anyway. Anyone who wants to prove to me otherwise, I'd like an explanation on why they let Bitmain determine their fate and as you say 'why'we're not at least partially refunded...but that is not how things work in crypto world. Me, I'm down about 1.11 BTC total after equipment deductions and what I'd have paid in taxes in 2017 anyway, (41% with state tax and the additional 25% equipment deduction of gross income on taxes to be paid)....so hell I would have probably held the BTC anyway, so down about 6.6K, If I'd have held ... or about $4,133.11 USD. The catch is my risk was 34% I (silly me) thought, that I could probably at least mine enough Siacoin to make some back, if I was wrong. Also, I could ship these miners to someplace at 8.5c kWh, but on a 6 month pre-pay and 100 bucks a miner to setup ...would you? Give it a couple months of all those ASIC's driving up the difficulty (assuming some can keep them up at 8.5c kWh prices or below) at best ..this is gonna be a 3-month miner spree before everyone shuts them off. UNLESS they actually do fork the coin or the actually do have the network ready to go on these ASIC machines and some kind of strategy...at this point .supposedly 1 week from shipping and hearing no hype about how they are going to attack and give grief to Amazon's Cloud Storage for 10c on the $1, compared to them...I don't see it. Also, they are NOT going to make the deadline for shipping ASIC's, we are going to be looking at the 1st week and beyond in August 2018 or worse again, no issues..this boat has sunk.....ie....doorstops... (at least shipping is included) by the by ...do we get a separate PSU or is the PSU in the device? I'm unclear on that...maybe I may get some PSU's out of this...but again, nothing said and from the design, I assume they fudged on that as well and you have to use your own PSU. oh well, in the great scheme of things and the pump and dump of BTC in 2017..it is not my major mistake of 2017...not even close! brad |
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why is lsk price collapsing?
As long as Bitcoin 'tanks' all altcoins will also 'tank'. When Bitcoin gets a cold the altcoins get pneumonia!  I myself have a new viewpoint on the next few years, ie: everything is a 'bubble' crypto, stock market, etc. I see a pretty good recession coming instead of a 20% correction, which is the typical definition of a recession, I'm thinking more like 40%. So just trying to keep 'debt free' and ride through this. If we are 'lucky' BTC and altcoins and LISK will act as a 'store of value' like gold and at least go sideways if not up...if not...it will be a long wait like stocks and traditional investments....too much going on...a recession is coming if not even more social angst in the USA...just gonna roll with it. |
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Well, without the Siacoin decentralized network at 10c to $1.00 Amazon Cloud Storage, which is centralized storage, well, not looking good. A 500gh 800-watt Siacoin Obelisk Sc-1 Blake2b Siacoin unit will make 229.22 a day. According to what to mine calculator what to mine (see below) at 800gh and 500 watts and at 14c kWh, that comes out to $1.68 per day in electric and $0.77 per day of profit. This, of course, is today's price, without all the supposed ASIC's hitting the Siacoin network within (supposedly) the next 2 weeks. here is the miner calculator from what to mine. (below) https://whattomine.com/asic?utf8=%E2%9C%93&factor%5Bsha256_hr%5D=14000.0&factor%5Bsha256_p%5D=1370.0&factor%5Bscrypt_hash_rate%5D=1000.0&factor%5Bscrypt_power%5D=1600.0&factor%5Bx11_hr%5D=34000.0&factor%5Bx11_p%5D=2100.0&bk2bf=true&factor%5Bbk2b_hr%5D=800&factor%5Bbk2b_p%5D=500&factor%5Bqk_hr%5D=3300.0&factor%5Bqk_p%5D=120.0&factor%5Bqb_hr%5D=3300.0&factor%5Bqb_p%5D=130.0&factor%5Bmg_hr%5D=3.3&factor%5Bmg_p%5D=50.0&factor%5Bsk_hr%5D=1.7&factor%5Bsk_p%5D=40.0&factor%5Blbry_hr%5D=20.0&factor%5Blbry_p%5D=200.0&factor%5Bbk14_hr%5D=80.0&factor%5Bbk14_p%5D=205.0&factor%5Bpas_hr%5D=20.0&factor%5Bpas_p%5D=105.0&factor%5Bx11g_hr%5D=0.45&factor%5Bx11g_p%5D=70.0&factor%5Bcn_hr%5D=55.0&factor%5Bcn_p%5D=140.0&factor%5Bcost%5D=0.14&sort=Profitability24&volume=0&revenue=24h&factor%5Bexchanges%5D%5B%5D=&factor%5Bexchanges%5D%5B%5D=binance&factor%5Bexchanges%5D%5B%5D=bitfinex&factor%5Bexchanges%5D%5B%5D=bittrex&factor%5Bexchanges%5D%5B%5D=cryptobridge&factor%5Bexchanges%5D%5B%5D=cryptopia&factor%5Bexchanges%5D%5B%5D=hitbtc&factor%5Bexchanges%5D%5B%5D=poloniex&factor%5Bexchanges%5D%5B%5D=yobit&dataset=&commit=Calculatethis looks like it is gonna end badly unless I'm missing something internal to the ASIC Obelisk Units and/or mining. It is just that at $1.68 in electric and a $0.77c kWh profit per day...seems hardly the worth to toss them up in the basement (you guessed it, my home also is at 14c kWh) Thus, again, leave them in the cardboard boxes, unopened, to use as doorstops, I guess. what a cluster (assuming they deliver, assuming they have the decentralized network they have can handle the dump of Obelisk's in the next 2 weeks..again, not even worth my time, to set them up yet.0 Again, hardly encouraging, unless some side action associated with the Obelisk Miners come to pass. As it looks now, with no up and running decentralized storage network to compete with Amazon's Centralized Cloud and/also the current crypto prices, I guess they just stay in the box Anyone,see any rainbows/unicorns and Santa in this, let me know, I'd like to be dead wrong., but it is looking like by end of the month when these ship, they will never see the light of day. (at least at my 14c kwh rates at both the data hall with rent and my home) later brad Yeah I got a couple coming and see the math as well, part of me secretly hope that SIA forks the network after the obelisk hits (would be a amazingly-well kept secret if they did) or they have massively understated their hashrates to throw off competitors but this would also be an amazingly-well kept secret if they did. ASSUMING (big assumption here) they at LEAST had the decentralized ASIC Obelisk Sc-1 network up and ready to accept these ASIC's for the purposes of security and coin management for this decentralized storage network...to compete against Amazon and its centralized cloud storage, at $1 vs 10c per dollar as Sia-Tech claimed for needing ASIC's. Well, there might be SOME hope. But just to have a bunch of ASIC's without the above in place, means a crap load of Siacoin mined, the difficulty goes up massively and if the current price of Siacoin is like other altcoins and some/most? maybe based on 'scarcity' and/or price also is based on the above-decentralized storage network vision...well, we are doomed...because you can't have current prices based on scarcity and the hope of this storage solution and have these ASIC's hit the world...poof..coin is worth nothing, you have no network, the project fails before it starts, because they did not time their vision with the ASIC's and did not also remember the project itself is also reflected in Siacoin's current price...not just the scarcity. Not looking good at all, I have not even 'bothered' to wire the bsmt up for these extra units, why bother if they are doorstops? brad |
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Well, without the Siacoin decentralized network at 10c to $1.00 Amazon Cloud Storage, which is centralized storage, well, not looking good. A 500gh 800-watt Siacoin Obelisk Sc-1 Blake2b Siacoin unit will make 229.22 Siacoin per day. According to what to mine calculator what to mine (see below) at 800gh and 500 watts and at 14c kWh, that comes out to $1.68 per day in electric and $0.77 per day of profit. This, of course, is today's price, without all the supposed ASIC's hitting the Siacoin network within (supposedly) the next 2 weeks. here is the miner calculator from what to mine. (below) https://whattomine.com/asic?utf8=%E2%9C%93&factor%5Bsha256_hr%5D=14000.0&factor%5Bsha256_p%5D=1370.0&factor%5Bscrypt_hash_rate%5D=1000.0&factor%5Bscrypt_power%5D=1600.0&factor%5Bx11_hr%5D=34000.0&factor%5Bx11_p%5D=2100.0&bk2bf=true&factor%5Bbk2b_hr%5D=800&factor%5Bbk2b_p%5D=500&factor%5Bqk_hr%5D=3300.0&factor%5Bqk_p%5D=120.0&factor%5Bqb_hr%5D=3300.0&factor%5Bqb_p%5D=130.0&factor%5Bmg_hr%5D=3.3&factor%5Bmg_p%5D=50.0&factor%5Bsk_hr%5D=1.7&factor%5Bsk_p%5D=40.0&factor%5Blbry_hr%5D=20.0&factor%5Blbry_p%5D=200.0&factor%5Bbk14_hr%5D=80.0&factor%5Bbk14_p%5D=205.0&factor%5Bpas_hr%5D=20.0&factor%5Bpas_p%5D=105.0&factor%5Bx11g_hr%5D=0.45&factor%5Bx11g_p%5D=70.0&factor%5Bcn_hr%5D=55.0&factor%5Bcn_p%5D=140.0&factor%5Bcost%5D=0.14&sort=Profitability24&volume=0&revenue=24h&factor%5Bexchanges%5D%5B%5D=&factor%5Bexchanges%5D%5B%5D=binance&factor%5Bexchanges%5D%5B%5D=bitfinex&factor%5Bexchanges%5D%5B%5D=bittrex&factor%5Bexchanges%5D%5B%5D=cryptobridge&factor%5Bexchanges%5D%5B%5D=cryptopia&factor%5Bexchanges%5D%5B%5D=hitbtc&factor%5Bexchanges%5D%5B%5D=poloniex&factor%5Bexchanges%5D%5B%5D=yobit&dataset=&commit=Calculatethis looks like it is gonna end badly unless I'm missing something internal to the ASIC Obelisk Units and/or mining. It is just that at $1.68 in electric and a $0.77c kWh profit per day...seems hardly the worth to toss them up in the basement (you guessed it, my home also is at 14c kWh) Thus, again, leave them in the cardboard boxes, unopened, to use as doorstops, I guess. what a cluster (assuming they deliver, assuming they have the decentralized network they have can handle the dump of Obelisk's in the next 2 weeks..again, not even worth my time, to set them up yet.0 Again, hardly encouraging, unless some side action associated with the Obelisk Miners come to pass. As it looks now, with no up and running decentralized storage network to compete with Amazon's Centralized Cloud and/also the current crypto prices, I guess they just stay in the box Anyone, see any rainbows/unicorns and Santa in this, let me know, I'd like to be dead wrong., but it is looking like by end of the month when these ship, they will never see the light of day. (at least at my 14c kWh rates at both the data hall with rent and my home) later brad |
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No, not leaving crypto but below is how I am 'coping' with crypto 'mentally' and in HODL mode yet on all my alts and BTC. So my 'coping mechanism for myself...(such as it is) with (in my view) an expected 'doozy' of a recession in the USA in the next year or so...I myself and simply trying to stay debt free and am 'assuming' all my assets, house, stocks, crypto are gonna go down 1/2 and plan accordingly If I am lucky, BTC and crypto will act like a store of value like gold and go sideways in price or up...on such an event...but still... mentally, it is more prudent to think this...if I am right...I'm prepared..if I am wrong, I am pleasantly surprised... but IMHO, the whole human race is somewhat dorked lately, so just a waiting (hopefully debt free yet) for the likely 'backlash' and being a 'minimalist' on my expectations...seems prudent..in that I am 'confused' by most things in the real world now..including crypto so hell with it, just gonna go with the above view 'everything is a bubble' and plan accordingly lousy coping mechanism...but seems to keep me calmer or at least the 'illusion' of such peace of mind..sometimes you can't 'buy' it ...but I can damn well try and 'fake' it  brad |
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Would you have sold yours at $200 + boot leg PSU's you had? Or drive a few hours, pick them up, and let them sit in basement until they turn back on again in the future. (Serious since i've been wondering). I figure i could sell them for 250 on ebay but that's a hastle, especially with breaker boards and the like. Oh, and if you can take a loss now you could then have a carry over lost against future gains in years to come. That 1800w PSU has me wondering/thinking. I bet its the s11s but... we will see..
In my case...it would still have likely made sense..but it would have hurt more...in that 1) the $$ got me over the income hook of 32k or some such...no way would I likely mine that much this year to do so.... 2) I have an extra 5k set aside over and above if I did NOT get to 32K..in a set aside for the tax man, month by month, .in other words, as I mined this year, I kept up with what I owe the tax man..because IF mining stopped (as it did) being retired I would not have had any $$$ to catch up with the tax man but for selling crypto w/capital gains...that seemed silly...so if I make the 32k more or less I likely free up another 5k set aside for making the 32k or some such as a reward 3) my elec costs were 14c kWh and are 14c kWh now at the house with my home Summer rates...as you can see, that pig won't fly 4) again over the 32k or some such allows me to take my self-employed health insurances (like a farmer) and take it away from my gross income like electric and equipment asic purchases ..that is 12.8k for me at my age of 62 silver plan and single 5) any extra $$$ of any amount gross after all the above I can pull off I also can put in the solo401k and take off my gross income So, again, in my case before I was able to sell the equipment...LIKELY...I MIGHT have made the above cutoff of, again I think it was, 32k ...but it was at best 50/50. So me, really yeah, probably would have had to eat 200 an L3+ with PSU at say $75 bitmain used for a total of $275 say an L3+ at 200 bucks an L3+ ONLY ...I am not as sure...probably would have still had to do it on the above 'chance' I could pull it off and free up the above options hopefully, your electric is much less than mine...again, just the 14c kWh means I was frigging doomed.... good luck brad |
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So has anyone started the man hunt for the OP to try and track him down? Would be interesting if he ripped off someone from the same country and you were able to find him... Would make for a real fun time. Anyone started looking for him yet?
As stated before in the thread, had a buddy back in the day get lucky and get like 60 btc back (when BTC was like 180 bucks or some such). He managed to get a hold of the data hall and track the IP and the IP showed it was used on a previous scam site www.butterflylabs.com (note the s) if I remember correctly, that had taken the $$ and ran. The mistake was he /she re-used the IP on the scam miner he was on the hook for...thus the lead..such as it was... With the threat of 'maybe' being 1 step away from a name...the scammer folded and refunded all on that scam...but may have been due to dumb luck and 'newbie' scammer panic. I guess you could start there..with the data hall and IP and hope you get lucky...long odds...but this is the 'only' instance that I know of where a scammer was at least 'spooked' and refunded. brad |
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Shut off half my machines. My contract for data hall hosting terminates at end of july. I figure i'll box units up at that point and wait for a future price pump to try and sell then. Even the S7s made money this last bull run. I've had offers to buy them at $200 and I just can't justify that price. If I run them, at current prices, it's a guaranteed loss of $x / month. Unfortunately, i sell coins to buy hosting so i wouldn't break even. At least once I take these home again, if prices increase, I can flip a switch to turn them on. If prices decrease; shut them back off. A lot easier than contacting remote hosting. I didn't expect this outcome last year but this is the outcome received. My units lasted just shy of a year. Talk about fast depreciation. LOL. Honestly, I'm amazed at how well the S9's are performing. I saw bitmain has that new 1800w PSU. So we know something's coming soon, will be interesting to see what it actually is...
July 1st I was offered $325 with Bitmain PSU's and took it ASAP, was 14 L3+'s and (4) L3's at 125 each, with no PSU's and 2 D3's with bitmain PSU's at $150 each. IF BTC and Crypto pump to the moon again, I will be so thrilled with what I will make from altcoin and BTC hoard, I will likely be fine with not being able to turn them on again. Also for those, self-employed (ie making income from mining) there are tax, solo401k and in my case retired self-insured benifits, if I can creep over 32k in income (again, selling crypto does not count, that is capital gains, we are talking generating self-employed income). My CPA told me I need to get over 32k or so for me to take advantage of all the above. The above equipment sale (cash) comes under Income, which puts me over the hump. (equip deduction off gross income, solo401k, amount to be determined off gross income,self employed health insurance also off gross, electric rent/power data hall deduct) So as you can see, with the above stuff acting like equipment and electric and being taken off gross income, it may make sense for some of you to sell like me...if you make enough as a self-employed business (in my case only source of income stream now retired..that or selling crypto which, unfortunately does not count like mining) more than one way to 'skin a Bitcoin'....anyway, for those it applies to above or others talk to your CPA ...this is common self-employed business stuff in the USA off NON- investment sales like stocks/bonds or BTC hoard etc...only money you can generate from your self-employment, in my case crypto mining (LTC, DASH, etc) good luck brad |
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anyone have any idea what he got away with on this ...a btc address or something?
just curious
brad
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boy i'm i glad that i didn't order any
You got that right! In my case I took a 33% hit after what I would have paid in IRS and State Taxes and the Equipment Deduction in 2017...Still sucks. My only other 'comfort' is I likely would have HODL BTC anyway, so at a 'real' 1.11 BTC loss...it is kinda 'meh' at this point this year. (I have 5 in the wind) IF they would have forked the coin 'away' from Bitmain, we MAY have had a shot at profit...but without that and current prices and in my view the unlikelyhood of them having the 'vision' of the decentralized network to compete against Amazon Cloud available (you'd think you'd here something in the press if that was coming) ie...doorstops indeed! Below is the price as of this moment you would make on an Obelisk Sc-1 today. Using What to Mine Calculator at https://whattomine.com/ for those who want to put in their own electrical rates (rather than my 'ugly' 14c kWh) OK. So to move on, at what an Obelisk SC-1 is supposed to work at, 800gh and 500 watts at my HIGH 14c kWh, I get the following: $2.91 a day. The electrical use is $1.68 per day. The profit per day (as of this moment) is $1.23 per day. I also got the email below from Obelisk...saying how HARD they are working, usually you get such emails from ASIC folk, when it is unlikely to make the deadline on shipping. (July 15th, 2018). The Obelisk Email received below. Quote: Delivery Update Quick update on deliveries: we have made a lot of progress, and everything will be arriving at our manufacturers next week: bare PCBs to assemble into hashing boards, production ASICs, power supplies, fans, and more. We will start assembling units next week, and aim to start shipping to customers on the week of July 16. It will take about two weeks to build and ship all Batch 1 units. We will have hashing boards with production chips assembled on Monday, and will be immediately testing for hashrate. We will update you as soon as we have hashrate figures. We will also send out a more complete long-form update at the end of next week. Our main challenge right now is firmware, and our team is working diligently to complete and test the firmware. After shipping, we will continue to release firmware updates that should further improve unit performance. Thank you so much for your support! Please let us know if you have any questions. Best, - Team Obelisk Copyright © 2018 Obelisk, Inc. All rights reserved. Unquote Thus on (1) OBELISK at my ugly, high, 14c kWh electrical I would make $1.23 per day or $36.90 per month. This is 'hardly' encouraging IF they do not have the 'supposed' decentralized network available from siacoin as their vision of storage, up and ready to go. Gonna be a lot of ASIC's (less the Bitmain units which are already too expensive to run) driving up siacoin difficulty...thus, if price of siacoin is based on 1) scarcity and 2) the belief in the siacoin storage method....IMHO, the price is gonna take a big hit, and we are gonna have a crap load of siacoin from these ASIC's with no other use on top of a complete price dump. Of, course, if they are 'late' on shipping the Obelisk Units..say August 2018, it may not matter. They may never be profitable enough to run and simply stay in the box. But I find in it interesting on how Sia-Tech has not been talking about 1) if their network is ready and 2) from the email, the likelihood of another delay on shipping. Again, when your Obelisk's arrive, be sure to leave them 'unopened' in the cardboard box, they will work much better as 'doorstops' within the box, due to the slippery nature of cardboard... live and learn brad |
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That was no moon.  There was an attempt. I understand. I tried once. I failed, too. been to moon 2x since 2013...failed to establish a 'settlement' both times (dang!) |
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For those PM'ing me...and also to show what I got for my stuff...I sold all my Bitmain Stuff. I'm out of LTC mining as of today. Just for those wondering on price, this is what I got. 14 Bitmain L3+'s at $250 each and $75 bucks for a total of $325 per unit with used (most more than 1 year) with Bitmain PSU's, for $4,450.00 USD. 4 Bitmain L3's at $125 without any PSU's of any kind, for $500.00 USD. 2 Bitmain D3's x11 miners at $150 each with Bitmain PSU's, for $300.00 USD. Total $5,350.00 USD. All above went to buyer(s) in the same Data Hall I'm at. Thus no shipping, and no hassle. Just a transfer or payment addresses. Anyway, I'm out. I still think Bitmain may spring the 'supposed' 3x the hash miner out this Summer, (being evil and all) we will see. If they do, I doubt I will play 'pre-order 4 months in advance for fall delivery game, I'd guess they would try again. I'm now in full HODL mode, with no mining. Ack! So, seems I'm out of BTC and LTC mining, for the first time since Oct 18th, 2013..feels weird... but satisfied with the ROI from then till now and the price I got for the above...so can't really complain. Anyway, for your info on what I managed to get for the above units, in case some on here are also thinking about selling such. As always good luck and pray to the ASIC gods for a pump of all crypto Will continue to 'lurk' this thread (sorry, for all that are now in 'dismay' on that!) later brad  |
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Is anyone still wondering ?
Seems like the USUAL Scam, OP last seen June 20th, 2018 on bitcoin talk. Covering his tracks and is 'poof' in the wind...(sorry for anyone's loss) Name: DwarfMiner Posts: 42 Activity: 42 Merit: 1 Position: Jr. Member Date Registered: May 06, 2018, 01:16:28 PM Last Active: June 20, 2018, 07:03:47 PM So follows the pattern of the approximately a 6-week scam, before all the lies, blow up...and stalling etc, etc. again, sorry for anyone taken, if you paid via credit card and the PayPal route and less than 45 days..you may have a shot to get $$$ back yet...if it is close to 45 days, you gain another 15 days on whatever, just by filing a 'dispute', at least how it worked 3 years ago with alpha-tech and Amex card. so go thru PayPal dispute AND your credit card you used also their dispute ...do both good luck! brad Dwarf refunded all the paypal buyers and said they would have to re-pay with crypto or bank transfer. I purchased miners from them via paypal and was refunded and asked to pay with the other methods. Without paypal or credit card protection I declined to continue with my purchase. So looks like all who purchased did so with bank transfer or crypto. Best of luck to all. well, good to know he did not benefit from the PayPal folk...I'd think a majority of folk would NOT Have paid him in crypto on a PayPal dump....so maybe that means a lot less folk got screwed... a 'good scare' for those who got back their funds via PayPal and walked....doubt they will try that again brad |
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Is anyone still wondering ?
Seems like the USUAL Scam, OP last seen June 20th, 2018 on bitcoin talk. Covering his tracks and is 'poof' in the wind...(sorry for anyone's loss) Name: DwarfMiner Posts: 42 Activity: 42 Merit: 1 Position: Jr. Member Date Registered: May 06, 2018, 01:16:28 PM Last Active: June 20, 2018, 07:03:47 PM So follows the pattern of the approximately a 6-week scam, before all the lies, blow up...and stalling etc, etc. again, sorry for anyone taken, if you paid via credit card and the PayPal route and less than 45 days..you may have a shot to get $$$ back yet...if it is close to 45 days, you gain another 15 days on whatever, just by filing a 'dispute', at least how it worked 3 years ago with alpha-tech and Amex card. so go thru PayPal dispute AND your credit card you used also their dispute ...do both good luck! brad |
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