Is it worth to buy L3 miner at current difficulty and expect profit from it
what will be return on investment
depends...i'm at 50% to the IRS and state tax rate (40% irs and 10% state tax) ie that 50% is gone if it goes into equip or not I also can get the 5-year depreciation on equipment ...compressed....all the same year 25% off what I KNOW I will pay in real $$$ for taxes in USA so that cuts my risk down to 25% over just paying the IRS 50% so in my case for 25% risk....I get a unit...for that price in real $$$ from what I'd lose anyway (more or less) now as a newbie...you take your hard earned $$$ and buy a miner you get the 25% equip deduction like me if you make enough on taxes you need to pay to get that taken off taxes owed in real $$$ this year the other 75% is ALL RISK myself, the bitmain units ARE NOT even at my above angles WORTH IT for the March orders (also notice the fine print they don't have to ship any till after April 12th this is, IMHO, a nice hedge for bitmain to mine the units should they have another 4-6 week pump in LTC or scrypt pow prices...like when they held my miners for 4-6 weeks on a 'firmware error' when the price pumped to 50 bucks for LTC and the units arrived wit Jan 2017 firmware on them, lol ) So, just saying, I'm just mining what I have and am in HODL mode until at least say June of 2018 In the object of fairness, I did get some 5 obelisk sc miner units, on a hedge that the price would dump for BTC in Summer of 2017 (not my wisest move. don't ya know) but I just squeaked by with 20/20 hindsight and really needed the equip deduction of the obelisks, so my ego can take the hit on the misplaced hedge of BTC dropping and me getting equip as a hedge) but, for the most part, I see Bitmain, doing the same game it has in the past....the 3-4 months before these units ship bitmain will run up the difficulty in LTC (probably) or scrypt-pow (maybe) by 30 to 50% before these units even ship...even with an LTC say price pump...you'd at best (again IMHO, I know zip) be just trading crypto in for crypto out at best....scraping by an ROI... thus crypto for equip at this point in time (any equip) is a risk...so...keep that in mind...but I'm not doing it with bitmain products at this time, even thou my risk is probably 25% over...just looks too dubious to me with them mining the stuff till march/april 2018..seems rigged (esp if they bring out better equip in march/april) so I will wait and navel gaze till then  |
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well my reply to fishing for info on PSU's internal or external or whatever
they NOW say they will be EXTERNAL (see below)
this is the reply
Hello Brad,
Our PSU will be external to the Obelisk. We are guaranteeing it to be 500 watts or less, unfortunately we do not have any efficiency information at this time, but it is our goal to deliver an efficient PSU.
You are more than welcome to use your PSU if it is compatible with the Obelisk, but all of our Obelisk ship with the PSU so we do not have a way to shipping you one without it.
We have not yet finalized our design so I cannot give any specific details on the specifications of the Obelisk or the PSU, this information will be available before our first batch ships.
I hope this helps, please let me know if you have any more questions.
Thanks,
Grant Crawford
Customer Specialist
I am NOT happy that they have not gotten the case and psu design set etc...USUALLY an ASIC maker (while waiting the 3 or 4 months to see if the chip MASK has set and the chips
are good) takes that time to design the case/ psu or whatever THUS the only thing the mnfg has to do when the chips are legit is wait to get them...then slap the units togther
and out the door
the HOPE that obelisk folk were saying they could get something out in March/April, now IMHO is now shot....they MAY get it out by their orignal July 2018 deadline
but I know of at least 2-3 ASIC miners, that had the problem where they DID get the chips and DID get the boards...but the cases or the psu's sub contractors screwed them
over and they lost 3 months shipping...they were then hostage to the subcontractors of this ...
so....anyway, if their supply line on case and psu works out they are probably golden...if for some reason they get caught by subcontractors i'll be more than annoyed
this is 'build a rig' 101 for crying out loud....
Also, I am PROBABLY going to get Bitmain PSU units for my obelisk units.....simply because they are probably overkill for PSU's needed (now that they are going to be external) and
they have a 1-year warranty
just to be safe...if/when the obelisk PSU"s arrive I can flip them on eBay and be more or less even on such
Pandaminer from friends got screwed on cheap psu's when included with their units and I've heard of other stuff
so if you have the cash there is little risk you can always flip the bitmain units if you like the obelisk PSU's but you know how it is.....everything is covered and then
you suddenly can't get a PSU anyplace! (been there, done that)
anyway, my hedge on these being confirmed as external PSU's
brad
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Nemo, why would you not make it first come, first served?
Because it doesn't make sense for logistics reasons. Handling big orders means less payments, less shippings and less headaches overall. Not fair to early birds but fair to Nimo. I understand that. The best solution would be that all the small guys get together and pay an escrow as a man-in-the-middle for this group-buy so Nimo will treat it like one big order and then the escrow will handle the shipping to buyers. I'm trying to remember the last (no profit to the OP) actual escrow group buy that worked....I think it was 1 year ago (longsnowsm?) the others either fell thru, or the OP got a windfall in a free unit or two.... afraid, them days are gone I've asked a few folk making various flavors of Asics....and got no place...such group buys may have gone the way of the dodo  |
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Well it exists but in the meantime I have been mining with other gear I purchased simply because the builders of this gear do not understand how to treat a customer.
Ok...on your word ...if you say it exists...it exists (ah a fine meal of crow.....yummy.... on my part) But, again, they still are playing this WAY to coy....so we will see if it is an overpriced (after we have mined the hell out scrypt-pow coins over months) at the end of life sale....(we've both seen that game...the one the bitmain is playing until its equip ships (march orders) (read the disclaimer they don't have to ship till April 12th...thus a price pump...they can wait and mine longer before shipping imho) fun times, never a dull moment to those that bought these you have big ones! (off to dine on crow...I dine on crow enough it is not a big deal....if you boil the crow with the ramen noodles you have 2 meals in one!) |
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Wow... just read all 4,000 pages of this topic and now my head is spinning. What a mind-fu*k.
I guess the only part of this I don't understand, according to @offordscott is that Halong apparently doesn't seek or want any good PR. Or at least the kind this community sees as good. I'm not discounting the article they got. I'm just saying that it seems like it would have been so easy, so fast, to have avoided so much of all of this conflict. Maybe the product is so good, it does't matter. Maybe the LONG wait until March doesn't seem so long to Halong... so the "let the product speak for itself" thing seems like a great idea in their mind. And maybe it is.
But as a longtime CEO and business owner, I cringe at the idea that they didn't take a couple of easy, and very cheap, steps to quash almost ALL of this heartburn and angst right up front.
I haven't been in crypto long enough to have witnessed the scams of days gone by... so all I can do is kick back and watch what happens in March/April. I'm hopeful for everyone who placed orders. And I'm tempted to take up Scott on his offer to swing by and see one in action for myself (assuming that's still a thing).
Yeah...this is the problem with this thread...no REAL proof the product exists....even folk just stumbling into this thread shake their heads on how this has been presented.... so IF the product exists .....and they are soooooo secretive why even have this thread? on the other hand if a scam or if they plan on mining like hell these units and move some after the fact ...when the difficulty is so high it don't matter maybe having this thread makes sense (if a scam) of if a fishing expedition on how to move used or excess product past the time it is worth buying at their mining end game I see no other real reasons than the above game plans, for their, to say the least. 'weird' way of saying they have a miner rig for sale, coming in March brad |
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Well...IF you think BTC is gonna have 'legs' and last long term....you should treat it like a long-term asset
if you think it is gonna go tulips you should cash it out into currency (USD)
not exactly what you meant, but seriously
it has to at these prices be looked at like a financial asset.....the xfer fees are too high and limited number of vendors to see
it as a currency
On thing is for sure at my Tax Rate from Mining last year and likely this year it will be (40% IRS and 10% state taxes) or 50% taxes
either
1) the whole crypto universe is a bubble and tulip scam as 95% of my friends and family say....or it wil be a long-term asset you can
take $$$ out of like any other long-term asset..stock/bond etc and ....let it build over time...take what you need...too much of a hit
on taxes if you play the windfall profits game and try to take it all out at once..ouch 50% hit on your stuff going POOF! you don't spend it
and you are 2x as rich! (it is all about protecting the ego)
it is one or the other
2) IF I TAKE ANY $$$ OUT AT ALL (this year or last) ONE HALF IS GONE ..that is a fact....any selling of crypto I lose 50% to the tax man
at my tax rate with mining and state taxes
So I can take a chance of losing it all (according to friends) or I know I can lose the 50% in the same manner ..by selling the crypto assets now (or some would say too early
and too much)
chump or champ ..in the future I will be in one camp or the other
so store of value is what I'd call my BTC and crypto assets ..currency..not so much
NOTE: I am in long-term HODL mode since 2013..just playing a 'what if' game above..but this is the kinda push back you get and will continue to get till BTC becomes boring
as hell and people turn you off when you talk about this (much like grain futures) ....when talking about the death of crypto is the same as talking about the elimination of the
income tax...well .....what I mean ...when neither seems likely, we likely will be safe and boring in the future (or a least a lot less FUD)
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Nemo, why would you not make it first come, first served? If you're over subscribed then I don't see the need to service the 'big' buys first.
I held off on ordering through other mechanisms as a result of this group buy knowing that my order was on the list before reaching the original cutoff. It's disturbing to hear that the priority is shifting based on order size now.
Along with that...did the OP on this thread ever go with escrow...or is it a direct pay to bitmain based on your group size order...... anyway, thanks...don't remember a clarification for this |
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I'm getting around 7 USD a day through zpool, what's a good pool to use these days? Granatgas is back up but only does btc payouts, too expensive for txs
I like prohashing.com/ I went back to www.litecoinpool.org because prohashing is now telling folk to do a 1099 to the IRS (USA)... I don't have a problem with IRS ..I'm legal but went thru an issue with the bank saying I was evil (2013 ...all BTC was evil..thus bank contacted SEC on me for such) so what I suspect will happen with prohashing's 1099 is what happened with coinbase being the first to try an be legal...same as SEC..they will be able to do a blanket 'source of funds' letter to all on prohashing members that you and your CPA can trudge thru to prove you are legal....I prefer the IRS find me with others in a random audit not be singled out by a site sending out 1099's that according to my CPA are not even needed (I am not employed by prohashing nor a contractor...nor like in coinbase's case exchange $$$ for crypto etc) So went thru it once, don't need the IRS getting lazy and just shooting them out to all users of prohashing based on 1099's their own 'source of funds' mass letters. So I split....again, CPA said as far as they can tell, prohashing is simply doing this to make them feel better or they have bad lawyer advice...I myself think it is gonna bite prohashing in the ass, much like my bank got reemed after the fiasco with me (I was the only one, who came out, smelling fine in that mess, and obviously i've changed banks since) 1x was enough then you on a 'source of funds letter' |
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I think that the reason they are still using other miners Operating Systems is because their software is not ready yet, you can imagine how scarce Linux devs must be these days considering how everyone just wants to push out a good fat solidity.  I saw BTCDrak did fork the S9 OS and he is probably working man-alone trying to get this thing ready in time for release so this would also explain the reluctance to allow these things into the wild. Ironic the times we live in where Engineers are available by the dozen but a REAL dev is hard to come by. Anyway to be honest I don't give a crap what the user interface looks like, as long as these things hash like the clappers and turn off when they hit 105 degrees. Pfffffft I feel this is a supposed religious experience. I am supposed to have faith in certain people... F it show me the goods. when I was a kid..there was an honest to god UFO at sunset in town...it sat there...saucer-shaped with 3 proportionally placed eye-shaped windows... So for the first 15 min or so ..people could not believe it was a UFO..the last 25 min it sat there people we're trying to figure out the best way to interact with whatever when it landed (this is Minnesota.....I suspect someone would have offered potluck)..this was adults talking..I was a kid and could listen in... IT was a weather balloon ....made into the shape of a UFO saucer, buy upper atmosphere winds pulling it into the shape of a saucer the supposed windows were the USA in large letters on the side (1960's) again proportional the top and bottom giant letters scrunched up in the saucer shape.....making the perfect eye-shaped windows..damn convincing to a whole town for 40 min so... my point is a variety of folk can look at something with disbelief....then after a point of time accept it as fact...just to find out it was not factual at all but anyway, the point is ....even with photo's stuff is not always what it seems....all the info...even compared to the above on this thread is flimsy but even with a unit demo (like BFL) the particular product may never come to pass on a pre-order....like BFL never shipped in mass ...like KNC miners..who took the pre-order money, built data halls with it and mined for 4-5 months ..then shipped the pre-oder Neptunes 7-8 months late that never ROI'd We have dozens of cases of this happening (at least since I got in from 2013 on) good intentions are great, hope is OK....proof is what is needed...and still...no Unicorn proof that I can tell yet on these miners hopefuly, the above is a cautionary tale and the stuff exists....but as my UFO example above...sometimes it just ain't so! |
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What btc crash? It's still only down 30% from ATH. Have you ever seen a btc crash? This is nothing. This is only the preamble before the crash.
now you went and done it..with the above quote and me always selling on the low (to pay bills and the taxman) we've both jinx'd it for sure |
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Guys what will happen if you accidentally lost the copy of your private key?..it's still possible to transfer your tokens to your other wallet using your wallet address..?? Does anyone know?..thanks in advance
you are SOL..no hope |
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The moment you realize you sold at the bottom.  I have not sold yet for bills. I always sell at the bottom. This does not bode well....... on a side note how soon will ATOMIC SWAPS for coin options be available on either Bitcoin or Litecoin....would that take care of all this Gov't silliness on raiding exchanges...in that from what I heard (clueless here) that would kinda put a crimp in these 'we are gonna ban exchanges from our country' trends..in that you don't need exchanges for some of this just saying...(then again, at the rate bitcoin core moves on coding....and/or lightning development....I may be p*ssing upwind and have not noticed yet) https://hackernoon.com/atomic-swap-why-its-a-game-changer-for-exchanges-fb1380f5cb6cedited: corrected to: atomic swaps added a link |
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bulls will never admit theyre wrong. theyll just say it's a glitch or blame some black swan news event
I'll admit I was wrong. I'll do that all day. It (was) in hindsight ...damn hard to see them 'breaking' BTC in South Korea thou.....hard for BTC price to pump when they slap down all those South Korean kool-aid drinkers. ( My concern is that they find that the exchanges WERE playing fast and loose with the KYK (Know Your Customer) rules....that would cause a delay of any exchanges coming back up (if ever). Wild,Wild,West indeed! BTC...always the drama Queen! Next bump we get, I'm taking it. I also am becoming despondent.
don't trade on emotion Usually, when I've become despondent we get at least another leg down. It's science. yeah, it is 50/50 IMHO, that we will drop below 10k. The South Korea raids...took a lot of air out of the balloon. |
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Had to lock this because of illiterate spammers or their bots(?). We are slowing progressing towards 100% SegWit. I have a Trezor coming on Tuesday..but what the heck ...will be good to know such a link for a segwit paper wallet version
* Lauda slaps Searing with a segregated trout. Where is your new address? showed up today (wens) ..the Trezor..that is... I sent you a pm. I am assuming the receive BTC address it generated and I sent you is a permanent address I can use from now on, for you. Anyway, thanks for your efforts on our behalf. Brad |
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Well, I had to hang in there for 2 weeks longer than I planned (the private insurance had a web issue with my application ...so had to work 2 more weeks to keep insurance up) but My last day of work now is Sunday January 14th in the am. Can retire w/o crypto..when BTC hit 10k it looked silly to continue....with that as a backstop... my issue is I probably SHOULD sell 10% to 20% of my crypto hoard of BTC and ALTS ..to be safe and TULIP Insurance....in case it all goes boom..*unlikely* but still but got ALL my crypto from mining, all ROI'd..and still making crypto to live on (thus retire early) each month w/o touching crypto hoard so the issue with me is HOW DAMN hard it is to let go when you see every day how hard it is to get crypto out of your ROI'd units that mine thus you pray for a price pump and blamo, you are good for another 6 months..quite the ride I assume I'll crack like a walnut as soon as my income stream from mining dries up, but until then I'm managing to HODL...but numbers are getting 'interesting' as a heart atttack (of course, like all of us I'm just one stripper/gold digger away from blowing it all for the right lies) but that is a given, the catch is 1) you have to be a boring nerd to get into this in a big way anyway 2) if you do well in crypto as a result ..you are still boring...wtf? best to keep this to ourselves ...I suspect most of us would be pliable exotic dancer putty with the right lies |
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Meanwhile, the swings continue. They seem narrower. Nearly 14.5k right now (gdax).
Bob, do you have that country song ready yet? Festival planning is in Phase 2.
Chatted with my partner this morning. Lowering my exit targets. Don't want to say any more than that for fear of jinxing things. I still don't feel the time is right yet, but "very soon". He brought up the same point as IcyGreen - "Didn't you say you were going to dump $1M @ $10k USD/BTC ?" I am filled with shame for allowing my greed to get the better of me. It's... emasculating... being scolded by a power-bottom, damnit. Either way, will still end up HODLing a very respectable sum of BTC when all is said-and-done. Just quit your day job and pray it doesn't all go tulips. Live on the edge, man. My last day of work now is Sunday 14th in the am. Can retire w/o crypto..when BTC hit 10k it looked silly to continue.... my issue is I probably SHOULD sell 10% to 20% of my crypto hoard of BTC and ALTS ..to be safe and TULIP Insurance.... but got ALL my crypto from mining, all ROI'd..and still making crypto to live on (thus retire early) each month w/o touching crypto hoard so the issue with me is HOW DAMN hard it is to let go when you see every day how hard it is to get crypto out of your ROI'd units that mine thus you pray for a price pump and blamo, you are good for another 6 months..quite the ride I assume I'll crack like a walnut as soon as my income stream from mining dries up, but until then I'm managing to HODL...but numbers are getting 'interesting' as a heart atttack (of course, like all of us I'm just one stripper/gold digger away from blowing it all for the right lies) but that is a given, the catch is 1) you have to be a boring nerd to get into this in a big way anyway 2) if you do well in crypto as a result ..you are still boring...wtf? best to keep this to ourselves ...I suspect most of us would be pliable exotic dancer putty with the right lies |
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They were available for a day. Now they're sold out and you can't order anymore. If this was a scam and they didn't exist, wouldn't they just keep it open and make as much money as possible before disappearing? Understand the mind of a scammer.
IF I am correct and it is a scam...( I hope it is not a scam..I will happily eat CROW....and you can merrily mock me, but for a chance at equipment other than Bitmain....the CROW will taste fine) But that is how it works (IF a scam) these things work...they take a mess of $$$. Say they are sold out.....then fade away in the 2 weeks after....erasing all traces with Inet providers etc... or so has happened on other such scam threads we have seen on bitcointalk ( I suspect I've seen at least 1 dozen or more since 2013) ...thus a reason for my skepticism again hope I am incorrect...will happily dine on CROW...but alas, it will be quite the coincidence in how closely this seems to follow the pattern of the above dozen..almost to the letter... or so scams on here that I have witnessed...so if they are legit it is one hell of a weird way to inspire confidence in their product...we will see if I dine on 'well-done crow" or not So no, the sold out in a day thing, may not be a good sign...but again, it is up to the ASIC gods now I guess |
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@Searing I give up... calling it a scam is just telling lies. Nobody has a proof that its scam! You are scamming, by telling the people its a scam. Maybe a little yellow submarine from Bitmain? They are paying a lot for shitstorm on miners  I have no proof for it like you. So from now on the scam screamers are little yellow terrorists for me until they proofed they are not (and I will not accept any proof). ID cards can be a fake Your fu... face is just a copy The facebook is maybe overtaken ... etc. For Halong: There are enough proofs from legit people, demonstrations from known big players and comments from bloggers which are 100% confirmed as real. People who still call it a scam just are those kind of people the world always had. The earth is flat. Burn her, she is a witch. Battles in the believe of god. Nobody was on the moon. and my favorites ... A black cat or friday the 13th are bad signs. But anyways: The DRAGONMINT 16T is real and its not a scam. 100% proofed. If something will go wrong on the first mass production batch ... delivery ... whatever ... we will see. But its not an initial scam like some others in the past. I call it as I see it....you seem to have faith it is true...me....NOT so much... time will tell.... but to be clear...as an example BFL had units...in 2013 and 2014...BFL gave out units month in advance of launch to news organizations they worked great they had millions pour in.....and they never delivered in mass and in the end the corporation took the hit...the folk doing the scam paid a meager fine.. (The three main folk, pointed out by SEC...the highest fine they paid each, was only 1 person and I think was 33k) This was a USA company with 'supposed' consumer protection laws..... so all that you say may be true...but the way they are playing this seems like an old BFL play/Gaw Miner/Alpha-Tech..the long con and mine themselves at best if the product exists....most likely will never exist in the masses they claim to ship.... again, I am just not buying it.......too many red flags....of the above scam's of the past....too easy to just fix those issues with the proper launch/demo/review nope....maybe I'm wrong..maybe I'm not...but SCAM is how it looks to me (hopefully, I am wrong and won't rain on your parade) but how I call it You are a chinese guy from bitmain and payed for beeing a liar. Spying the people and telling lies to manipulate the market. I see the scam in here now. It is "Searing". He is not real and a criminal stealing the money of people.
Better block him and never pay attention on his words.
Beware of this user he is a liar and trying to scam you.Got it what you are doing?   Normally with little children its working to face them with their own behavior. And if not ... the level can be raised. At least "got milk?"  bye bye on /ignore |
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