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Anybody care to guess how long it will take for this SC1 batch to sell out? It's been stuck at 1260 / 4000 for a few days now...
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"We still plan to ship by June 2018 at the latest" !
So one has to wait a year for this miner possibly ?
June 2018 is the latest the ASICs could arrive, but their development team stated it could be months earlier. Asic production is expensive and complicated. Personally, I think they gave themselves some cushion to avoid another Butterfly Labs fiasco... But, yeah... it's a long lead time. Probably part of the reason their 1st week presales were a tenth of what they expected. A year is a long time, no doubt... BUT with their batch capped at 4k units, the projected returns forneach unit just more than doubled... and, as a wise man once said, "the future happens" |
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How long do you guys think it'll take for Obelisk to reach their new 4k unit cap? I definitely want to purchase a second asic, but (as always) there are some other crypto opportunities I might want to invest in first.
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Okay, so now I have moved all of my SIA to an exchange to sell ASAP, the announcement disappointed me, I believe a lot will sell, maybe I will buy later. https://www.reddit.com/r/siacoin/comments/6j1gyg/obelisks_sia_asics_full_details/Later Edit: They sell them for BTC, 2499$, now big SIA supporters will have no choice than selling their SIA to BTC to pre-order the asics. The price will tank, there is no other possibility. A little bit weired... The dev-team introduces a milestone to strengthen the sia-network ! ! ! You say: Big supporters have to sell all their sc now. Don't you think, that big supporters have some money left apart from their investment in sc ...? Don't you think, that producing a unique piece of hardware for sc only is a big big proof of the trust from the dev-team in their project? But: Please sell your coins. Looks like some people are not ment for earning profits... Some people have some money apart, some don't. If I would be a big SIA supporter, I would have most of my coins in SIA. That was just an assumption of course, If I would have a lot of BTC, probably I wont sell my SIA, but from my side, I see an oportunity from this release - to buy SIA cheaper, I bought it late, around $0.013, so I am guessing that I will be able to buy again, as I like SIA. Again, maybe it will go straight up, this is a risk I am willing to take. Hardcore totally called it! Major kudos, accolades and crypto-cred...It dropped in price, and probably for the reason he gave. Only a few hundred people purchased the first week 1000 units. I'd imagine a lot of them were Do a believers who unloaded their Sis to buy one (or 3). I'm new to SIA, but this ASIC announcement got my attention. Everything I've learned about them since then has only instilled confidence in the coin long term. Even when sales came in lighter than they expected, their transparency and mea culpa was impressive for a crypto. I pre-ordered one the 1st day and am now considering another. Check out this other thread on the Obelisk if you're interested. https://bitcointalk.org/index.php?topic=1976753.20 |
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But the interesting thing is that if they sell 2000 units, instead of their original 10,000, then (I BELIEVE) these Obelisks would be 5 times more profitable than originally projected... at least before a second batch comes online. If I'm way off on this, please feel free to set me straight.
You are correct that the original projections about return rate and SC monthly production was based on the estimated 10k ASICS produced. With the new cap being at 4k, this means the initial monthly SC production is 2.5 times more. There is a bunch of assumptions in these numbers but with 2.5 times less ASICs, the difficulty will not be as high so each miner will produce more coin, etc. Plus the original number didn't have a cap (it was only a 10k estimate). If they had somehow sold twice as many, it would have been half as profitable. As someone who purchased a couple, I am really happy with the 4k cap as it makes my purchase twice as profitable.  Do you happen to know if they are extending their 1st batch sale indefinitely? In other words, are they just extending their first batch sale another week (with a 4k maximum), or is this first batch sale continuing indefinitely, until they've reached 4,000 unit sales? They're Twitter feed was a little unclear... |
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Big news on the obelisk front. They reached 1,030 unit sales, qhich is impressive, but way below their original 10,000 unit goal.
They have now extended their first batch sale a week longer, with a max cap of 4,000 units. I believe their minimum for moving forward is 2,000 units. If they fall below that, they will (supposedly) be issuing refunds according to one of their developers...
If i were them, and I got CLOSE to 2,000 sales, i feel like I would figure SOMETHING out... instead of refunding MILLIONS of dollars. I just... i just couldn't imagine.
But the interesting thing is that if they sell 2000 units, instead of their original 10,000, then (I BELIEVE) these Obelisks would be 5 times more profitable than originally projected... at least before a second batch comes online. If I'm way off on this, please feel free to set me straight.
Yadda yadda blah blah blah, long story short, I'm considering buying another this week. I know antminer just listed their L3+ september batch, but I feel like these might have more upside potential...What do you guys think?
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Looks like current pre-orders is 630 as of today.
1370 to go
I feel like that number should be higher. It probably is, the SIA Dev team has indicated they are manually approving all orders and one of their Devs is doing double duty on updating the Obelisk site. I can see the sale number being higher because of manual approval and the bitcoin to USD conversion process... However, I don't think it's THAT much higher. I'm thinking the manual approval and conversion lag could account for an additional 50-200 units, but that's not really based on any "actual" information. The questions I have are: 1) How many units will be sold by the end of this round? - My guess is under 1000 2) How many units will be sold in their second batch? - My guess is their second batch sale will be comparable to their first batch. Tho they'll receive their ASICs at least 6 weeks after first batch customers, 2nd batch customers won't have to wait as long. I imagine the price will be somewhat similar to $2,500... so maybe they'll sell more in a 2nd batch bc of the reduced lead time (and lack of holiday). 3) What is the minimum amount of units they need to sell to insure they follow through with the orders? - 1,200-3000? TLDR - this first batch order seems like it'll settle around 1000 units sold. The seccond batch should do something similar. That'll bring their total sales for batches 1 and 2 to around 1500-3500 units... Again, this is JUST speculation. But the point is that the Obelisk SC1 becomes a better investment the less people buy them, provided enough are ordered to achieve the required minimum. The fewer units sold, the less mining competition among SC1 owners, the better the investment... |
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we will manage and host all crypto miners, from GPUS to ASICS
What would the plan for GPU's be? Do I need to provide everything from MOBO to PSU to Operating System or just the GPU's? I am very interested as I have about maxed out my houses power and my wife already gets mad because she can't use her hair dryer without blowing a fuse  Hers or the house's? |
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Until now they have only 500 order. And number didnt change since yesterday. Arent they updating or noone is buying?
I believe their target was 2,000 units. They seem to have made accommodations for a second batch order, while still rewarding first batch buyers. 1st batch participants get at least 6 weeks of mining without 2nd batch asics on the blockchain... as well as a $250 coupon for future Obelisk products. But consider what just happened. Obelisk raised 1.25 Million dollars in a short amount of time with no track record, no prototype, a one year lead time, and speculative specifications. I'm all about being skeptical, I am... but maybe we give Obelisk a piece of that Kit Kat Bar... |
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You guys might want to check out this thread... Discusses the upcoming Obelisk SC1, reasons to buy, reasons to avoid, and the overall future of SiaCoin. https://bitcointalk.org/index.php?topic=1836426.0I'm of the opinion that ASICs are indicative of a coin's promising future, as every coin to get an ASIC (btc, dash, ltc) has skyrocketed afterwards... you linked to this thread. was that intentional? That was a typo. Thanks for the catch. Take 2: https://bitcointalk.org/index.php?topic=1976753.0 |
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You guys might want to check out this thread... Discusses the upcoming Obelisk SC1, reasons to buy, reasons to avoid, and the overall future of SiaCoin. https://bitcointalk.org/index.php?topic=1836426.0I'm of the opinion that ASICs are indicative of a coin's promising future, as every coin to get an ASIC (btc, dash, ltc) has skyrocketed afterwards... |
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Just to clarify... There MAY be a new 2000 mh/s (2GH/s) baikal asic for x11, which looks like baikal's A900. Baikal hasn't announced it, nor do they have it for sale on their website. That could either be because it doesn't actually exist, or because they have/will only sold/sell it to large Chinese outfits. Either way, it would still be 1/5 as powerful as the Ibelink...
Is that about the size of it?
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What do you think about the impact of such ASICs on the SIA price ?
UP ? Down ?
The difficulty will rise a lot, that's certain, but the price ?
asic coin are always bad when an asic hit a coin, that coin value can't increase anymore or just will be pumped but then dumped again look at litecoin, after the new l3 the price remained there, after the first pump because of segwit Th How to explain bitcoin then and its value going up despite chiense asic farmers?? https://twitter.com/jgarzik/status/296709252351926273 ~around this date, 30 Jan 2013, people were getting their first asic miners, and the price in a month went from $18 to $34... and continued to rise until the crash. Or even with Litecoin, there may have been some "pump and dump" at the time... there may STILL be people mining and dumping today, but the point is that OVER TIME, the people who just mined and stacked Litecoin made out, and those who traded their Litecoin sacrificed long term appreciation for short term gains. The Litecoin network was able to withstand whatever short term trades happened at the time. I'm not saying SiaCoin will necessarily follow this same pattern, but regardless I don't think that a few (or a lot) of sia asic operators trading out of Sia will destroy the SiaCoin, especially over the long term... |
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Price is already crashing, soon only asics will be mining siacoin, bad move from the devs.
Well, the ASICs will not be able to mine Sia until they arrive 9-12 months from now. After that it IS likely that ONLY asics will (be able to) mine SIA... but that's kind of the point. I think, until that happens, it'll make sense to GPU mine Sia... even if it drops in price... that may make it MORE desirable to mine as you could pick up more of them as other GPUs switch to other cryptos. |
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So how much SIA can this asic miner mine in a day if anyone can speculate?
I just check SIA price is less than $0.05, someone with $1K can definitely buy a ton of it to hold for its pump. If you hold today, you wouldn't have to mine and spend electricity bill for it.
That is absolutely true. One COULD buy and hold any amount of SIA to benefit from any future price increase... but that is somewhat limiting. If you invest $1,000 in SIAcoin now, you would pick up about 69,000 siacoins... if it doubles in price, youd have $2000... but that's it. The Obelisk SC1 will allow you to mine SIAcoin indefinitely. The only thing that would interfere with that ability is if the price of SIA drops so much that it cost more in electricity than you can make in mining SIA, or if some other company produced some bigger / better ASIC that leaves the SC1 in the dust. I don't think the latter is likely to happen. The people making this ASIC are FROM SiaCoin. Their reason for making it has a lot to do with their belief in SiaCoin's future and their desire to secure that future. Other larger ASIC producers (bitmain, baikal) are unlikely to follow suit, at least in the short term. |
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I've done a ton of reading over on the SIA Reddit in regards to what's happening with SIA and how the Obelisk is being developed. With the logic I've already outlined, it still seems to me that I could make more in the short term with simply just buying $2500 in SIA and then dumping it after the price increases in a few months but I realized a few things in my reading: - I believe SIA is more than a pump and dump coin
- SIA devs, the parent company, and the company engineering the Asic are in the USA
When I think about how I could spend $2500 in BTC today most of those ways are not spending that BTC with a vendor or developer that is based in the USA. Since I live in the USA and I want to see companies like SIA succeed in the USA, it is for that reason alone that I've decided to buy 1 Obelisk for myself. As I already have a Minebox coming and the fact that the Obelisk will help secure the SIA network which in turn gives the architecture of SIA a better chance of being more than just a "pump and dump coin" I simply need to support this venture as well as in the end it, I believe, it will all pay off. So in summary, in a few hours I'm going to pre-order my Obelisk. Eyedol-X is a believer!?!?!!! As I live and breath... you saw it here, folks. The full on conversion of Eyedol-X... I'm happy to say I pre-ordered mine this afternoon. While it's true I could have converted everything over to eth, waited a day, then placed my order a day later, and made a nice profit before buying the same machine... I gotta remind myself not to think that way Btw any ideas on how to avoid (or benefit from) price fluctuations while coordinating buys like this? I got burned one time when the price of bitcoin keptdropping as I was buying it. On this purchase, I tried to diversify mainly into dash, ltc and then trade into btc at favorable rates. I figured the fiat i was waiting on was a sort of hedge in case btc price went down. In heignsight, since this asic price was denominated in USD, I should have picked up some tether... Any thoughts? Or maybe this should be it's own thread... The important thing is that Eyedol is a believer... |
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One final point: some posters have claimed that you would be better off buying and holding $2,500 in Siacoin, but I don't think that's accurate. Buying a finite amount provides a finite return. Yes, I think buying and holding would pay out, but with a low energy draw (they claim 500 watt), I think it is possible for this asic to mine indefinitely.
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since the Obelisk goes on sale tomorrow, I thought I would talk thru my thought process a little before purchasing one.
Asics are in high demand, especially alt-coin asics. Unlike the bitcoin mining landscape that has seen the introduction of big money players, PetaFlop Bitfury Blockboxes and the like... I think alt coin asics offer an opportunity for lowly individual crypto prospectors to stay competeitive.
Right now there is high demand for the L3+s (bitmain keeps selling out and upping their price) and baikal cubes. I don't think there's enough supply to meet the demand. I don't think this situation is likely to change anytime soon. There are only a few companies (as of now) successfully producing mining hardware.
As more people come into the mining hardware alt coin sector, searching for profitable ASICs, I think it'll only be a matter of time before people stumble upon this Sia Coin ASIC. Then there would be a large demand for them, even if the price of Sia stays flat or decreases.
Obelisk is creating these ASICS in large part bc they are SiaCoin founders / holders. In other words, they're believers. That tells me that it is UNLIKELY a competing company will come out with a competing product anytime soon. Maybe Obelisk will make a 2nd batch, but if they don't, or if that 2nd batch takes a while, or if I am able to preorder from the 2nd batch with Sia mined from the first one... then in effect the owners of these ASICs will have a monopoly on mining this coin... could also dominate any other crypto using the same algo (either now or in the future). IF Sia does explode in price, nobody else will be able to mine it. It'll b strong enough to blow away the GPUs currently dual mining it. Unlike Dash and Litecoin, I don't believe you'll see large computer companies destroying this batch with a better model.
From what I can gather from this thread (and others), many crypto enthusiasts are unwilling to take the risk or wait that long for delivery, which would make SIA mining rarefied are.
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3) Umbrellas don't make it rain, but every other time an ASIC has been introduced to a coin, it has more than 10Xd afterwards. Any and all profitability psuedo-predictions should consider this potential price increase. Asics do not CAUSE price increases in and of themselves, but I do think they are inddicative of stable infrasture / network and a coin with a future.
That is flat out NOT TRUE. Litecoin was DROPPING and continued to drop when ASIC were first introduced for it in 2014. DASH (X11) was flat and stayed flat for almost a year after the first ASIC was introduced for it last year. Bitcoin might have gone up but it was ALREADY climbing by the time the first ASIC showed up for it. What ASIC is indicative of is that someone believes there will be enough demand for an ASIC to make it profitable enough to make one - yet quite a few ASIC makers have ended up going bankrupt (KNC and Butterfly Labs are probably the best-known examples of ASIC miner makers that actually delivered product ending up bankrupt, but it's fairly long list that includes the majority of Bitcoin ASIC makers that ever managed to deliver product). In fairness, MOST of the ones that went bankrupt did so as the result of overoptimistic promises on "delivery timeframe", though in KNC's case it was *also* at least in part how unreliable their miners proved to be overall due to bad design decisions and poor chip design work. I probably should have explained my point a little better. Sometimes I post faster than I think. If I didn't, I'd never post anything  1) What I was trying to say was that had you mined with your first generation asics (in btc, ltc or dash), and stacked all of your mined coins, you would have cleared a large progit, regardless of any initial dip in the price of the coin. I believe Litecoin was in the 3 dollar range (maybe lower). I have no idea what Dash was at, but again much lower than today's prices. 2) I believe ASIC MAY BE indicative of a coin's legitimacy. Yes, it does mean that "someone believes there will be enough demand for an ASIC to make it profitable enough to make one", but WHY is there that demand? That demand MAY exist in part for the same reasons that wil drive demand of the coin itself. 3) As for the early bitcoin hardware companies that failed to produce reliable ASICs, or failed to deliver orders on time, and have since bitten the dust... That is ALWAYS a risk, especially with smaller companies with no track record. The people at Obelisk could definitely disappoint... Either way, I'll report back... and I'll be sure to leave room for humble pie  |
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