This is why it was advantageous to get in on the rush early on. Similar to the gold rush in the west. People are still making some money now, otherwise they wouldn't be mining. But not nearly as much as the early pioneers.
One of my points is for mining to continue at present OR higher difficulty level, price of BTC has to go up, or price can stay the same, but difficulty has to drop~2-fold. Present situation is unsustainable long term. People can tolerate short term, but NOT long term losses. It just depends on how long the big farms will hold out in hopes of a price increase - which they are also preventing from happening because most of them sell all mined coins quickly, thus not allowing for there to be a higher demand for coins. So by their own actions, they will run themselves out of business. I agree, in the last couple of weeks, on miltiple occasions, I observed that as soon as hashing speed decreased, price increased and vice versa. It looked almost like someone is testing a model. Since price is rebounding strongly on even a small hashing rate decrease, some investors could buy bitcoins AND a large, but inefficient farm, then take that farm out of production and receive almost immediate 20-30% boost to their bitcoin value, sell bitcoin and switch the farm back on. Rinse and repeat ad nauseum. I wonder if some entity is already pursuing this or similar strategy since we undergo large hashing speed fluctuations in a matter of a couple of days. The problem with that thinking is that the bitcoin network hashing rate is not "known" per se at any point in time but it is calculated based on the number of blocks being found per unit of time. Finding blocks is probability based and there are inherent swings in the apparent hashing rate because of this fact. It wouldn't make sense to take your miners offline because you don't know exactly when you are going to solve your next block- you might solve three blocks in the next 16 seconds and then wait hours to solve the next even though you haven't altered your hashing rate. I would imagine if you are observing this phenomenon, there is an entirely different explanation for it. Perhaps they don't have any coins to sell because they haven't produced any which would explain why the apparent network hashing rate had also taken a dip and the fact that they aren't selling leaves buyers looking to buy and edging up the price. |
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I'm willing to sell my Prisma at a discount if anyone wants one with a missing capacitor that I couldn't get to hash more than one board at a time... It has the USB dongle and not the controller...
I would take a chance on it for .6 btc I think that's a bit low. Why not try the sales@bitquan route and see what they'll do for you before you give it away? |
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I would be happy if someone from asicminer would just offer me replacement of the bad boards. I've lost downtime but it will be more loss without any hashes. Overall this was more of a test run to see if it was worthy to order in bulk. The ones that do run, run well.
I had a board go out on a tube. I contacted support and they told me to ship it back and they'd replace it. My experience with AM support has been pretty amazing. Who did you contact with AM? Phasebird? sale at bitquan com Do you have to ship it to China? What's the cost? I have a board that went as well but I was thinking it isn't worth the shipping fee to replace. |
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I finally got my Neptune refund which I had requested on or about May 24th and received my refund on or about November 11th. I didn't find out about the refund until today as I had a partner in the deal who initially did the wire transfer of funds. Our refund was requested in Bitcoin to speed up the process. We were promised 5% if we didn't get the refund by September and 10% if not by October. I have no idea how they arrive at the Bitcoin value and the interest calculation but according to blockchain time-of-transaction values, we go our money back plus almost 5%. Knowing KNC from past dealings, October is September and July is June so I guess November is close enough to September... who knows. I was just happy to get my original funds returned.
I will remove the negative trust I gave to kncminer because I got my coins back and it's the right thing to do. I would however advise anyone planning on dealing with KNCminer in the future to proceed with extreme caution.
Good luck to all waiting for Neptune refunds, bonus Neptunes, Titans, Titan refunds (I know they said "No refunds") and to those still ironing out Titan issues.
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how many PRISMAs can be chained per BE controller ? Thank you !
4 |
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Interesting that this FAQ has disappeared
Why are you selling the Miners and don't mine yourself (will you use the miners for mining yourself)?
We are mining ourselves, but we believe in the brtcoin project and a diversified market is the best for all parties. We will continue to mine but we do not believe in a
monopoly of miners. We will not mine with more than 5% of the hash rate we sell, and we will never mine with customer hardWare.
Yes but the belief disappeared long before that... |
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today at 400 usd/btc
hashnest: 0.0011BTC/gh, 65% maintenance fee
amhash: 0.0012BTC/gh, 31% maintenance fee
sounds about right?
Today I see hashnest going for .001125 BTC/gh which I guess doesn't figure into the %mtce fee but if the purpose of your post is to make a case for purchasing one over the other then it is important to make that correction. |
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I got the feeling the Prisma was a little rushed to market. I don't understand how they can be so problematic - I mean this isn't their first miner... it's the 4th or 5th?!
This is (as far as I'm aware) their first string miner, which is a whole different can of worms. Good point. |
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The weird part is I am starting to expect people to be unresponsive, fickle and unpredictable at least, due to my dealings in the BTC sphere. It is the only place in my life where this sort of behavior is tolerated, even rewarded. Its starting to bleed over into my real life too. People talk to me and I walk away while they are half way through speaking. I stand there and appear to be listening but I have not, and I have no reaction whatsoever. I will live, life will go on, everyone will figure it out eventually...why bother?
Canadians tend to be polite and responsive for the most part. I'm sure it's a little unsettling to be treated otherwise but don't stop treating others the way you expect to be treated; maybe it'll catch on  |
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My Prisma has never gotten more than 350GH/s. My opinion is that they are pieces of shit and should not be purchased. I can't even return this piece of shit because my reseller (Canary) basically blamed me and told me to fuck off even though it arrived with missing parts. Be warned if you buy one of these. You will waste more of your time then they're worth and will be disappointed.
That doesn't sound like Canary. You must have really pissed him off. Did you make sure the boards were chained in incremental order? (Example: 01:17,02:18,03:19,04:20,05:21...) I understand it is crucial. I agree. I had hoped for more from Canary as well, especially since I've bought dozens if not hundreds of miners from his buys in the past. I imagine he's getting lots of complaints and just didn't want to deal with it. I've tried lots of dip switch settings. I get errors anytime more than 1 board is hooked up at a time and 1 of the boards is missing a capacitor and won't hash at all. I got the feeling the Prisma was a little rushed to market. I don't understand how they can be so problematic - I mean this isn't their first miner... it's the 4th or 5th?! Brand new Prisma user. Have four Antminer S3's. Got mine up and running in a half hour following CrazyGuy and Dogies Guide for the Tube. Part of both. Hashing at 1.43 THs for 4 days now. Dan Well that's great. Glad to hear you got it working so quickly without issues. Nice to hear AM success stories! |
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Have you been able to determine which of these are Ponzi schemes and which are not? The biggest Ponzi allegation is against PB mining and they have not failed even after a year. Maybe because Bitcoin price is going down a difficulty is going up, they are paying only what a miner would produce (if they actually had some) and in terms of fiat, that amount has plummeted over the last year. Given that most miners wont make back their cost, they don't have to ever pay you back everything you gave them either. If you do the math, you will see it for yourself instead of believing in them based on the fact that they are still around. Notice they are located in Canada and will not sell to Canadians - ask yourself "Why?" |
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geez can friedcat make those numbers any more convoluted.
so basically if purchasing now we are looking at:
Buying 1 GH:
-Price: 0.0012BTC
-24 hour payout: ( 25 / (39,603,666,252 * 4.295) ) * 60 * 60 * 24 = 0.00001269858BTC
-24 hour maintenance: (( 1.89*10^(-8) ) / 405) * 60 * 60 * 24 = 0.000004032BTC
Buying 10 TH:
- Price=12BTC
- 24 hour payout: 0.1269858BTC
- 24 hour maintenance = 0.04032BTC
- 24 hour Net payout: 0.0866658BTC
Is this accurate? Plug into the profitability calculator with just 0.1 profitability decline ( <8% decline per period). it's a negative return for a 12 month period. Am i missing something here? why is anyone buying this?
Hardware break even 351 days
Net profit first time frame -3684.57 USD
Hardware cost(USD) 4800
Time frame (months) 12
Profitability decline per year 0.1
Conversion rate (USD/BTC) 400
Bitcoin difficulty 39,603,666,252
Hash rate 10 THs
Electricity rate (USD/kWh) 700
Power consumption (W) 1
Coins per 24h at these conditions 0.1270 BTC
Power cost per 24h 16.80 USD
Revenue per day 50.79 USD
Less power costs 33.99 USD
Power cost per time frame 6136.20 USD
Revenue per time frame 7251.63 USD
Less power costs 1115.43 USD
You need a profit decline of 0.3 (<5%) just to breakeven, good luck with that.
Not accurate. The bold lines should not read Bitcoins as the mtce fee is in USD and must be converted to BTC. This means a rising Bitcoin value increases the dividend yield. The red normal font line shows your error in calculation and the red, italicized lines indicate where you were just being silly (and after saying Friedcat's numbers were convoluted, geez!). If you want people to verify your work, you have to show it - I see what you did there though. P.S. I am NOT working nights |
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....
(prismas and similar gear are about 1BTC/TH), with maintenance fees around $0.07/kwh. (prismas use 0.7w/GH). Its pretty competitive with the alternative, but still requires certain key factors to be a positive ROI.
....
Prismas are 1BTC/TH but without PSU and without shipping (and mostly import tax too). Add those and you easily can pay more than 1.3BTC/TH. AMHash is using tubes not prismas. Those are more power hungry. So there's alot of room to lower maintenance fees (that includes power) in the future when switching to newer hardware (Gen4 maybe - 5x times lower fees). So, this MAY return positive ROI faster than buying hardware from AM directly. EDIT: for those that hates math (me too) AMHash returned so far 10700 satoshi, Thats 8,1% of 125000 original IPO price. So selling above 115000 still makes profit. Yep about 0.49557% after the 0.4% selling fee. Not bad for a couple of weeks of investment - it works out to a nominal yearly rate of 12.8849% More importantly, Bitcoin value is increasing which increases the number of Bitcoins in the dividend |
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My Prisma has never gotten more than 350GH/s. My opinion is that they are pieces of shit and should not be purchased. I can't even return this piece of shit because my reseller (Canary) basically blamed me and told me to fuck off even though it arrived with missing parts. Be warned if you buy one of these. You will waste more of your time then they're worth and will be disappointed.
That doesn't sound like Canary. You must have really pissed him off. Did you make sure the boards were chained in incremental order? (Example: 01:17,02:18,03:19,04:20,05:21...) I understand it is crucial. I agree. I had hoped for more from Canary as well, especially since I've bought dozens if not hundreds of miners from his buys in the past. I imagine he's getting lots of complaints and just didn't want to deal with it. I've tried lots of dip switch settings. I get errors anytime more than 1 board is hooked up at a time and 1 of the boards is missing a capacitor and won't hash at all. I got the feeling the Prisma was a little rushed to market. I don't understand how they can be so problematic - I mean this isn't their first miner... it's the 4th or 5th?! |
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My Prisma has never gotten more than 350GH/s. My opinion is that they are pieces of shit and should not be purchased. I can't even return this piece of shit because my reseller (Canary) basically blamed me and told me to fuck off even though it arrived with missing parts. Be warned if you buy one of these. You will waste more of your time then they're worth and will be disappointed.
That doesn't sound like Canary. You must have really pissed him off. Did you make sure the boards were chained in incremental order? (Example: 01:17,02:18,03:19,04:20,05:21...) I understand it is crucial. |
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waited for more than 1 hour, still running at 1 TH/S and one board is still not running
so this is not the answer I was looking for ...
is it possible that it is not well powered by the PSU ? would it still be shown in the statistics tab if it wasn't powered ?
Try connecting only that board to the controller. Make sure you have power to the board that supplies the fan too! You are using the 1300 watt EVGA? I have power to all 4 boards, the fan is working. Only one board is connected to the controller. I use 2x 1000W PSUs Perhaps it was not clear that we are now trouble-shooting. I was asking that you only power the board which is not hashing and only connect that board to the power supply. That would be board 8/24 (switch setting 00011) Disconnect the data cable interconnections to the other board and connect only the one long data cable from board 8/24 to the controller. MAKE SURE to keep power on the board that powers the fan but only power - no data connection. Does that board work alone? |
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waited for more than 1 hour, still running at 1 TH/S and one board is still not running
so this is not the answer I was looking for ...
is it possible that it is not well powered by the PSU ? would it still be shown in the statistics tab if it wasn't powered ?
Try connecting only that board to the controller. Make sure you have power to the board that supplies the fan too! You are using the 1300 watt EVGA? |
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5-10 minutes.
Should I wait longer?maybe it takes longer for all boards to start ?
it's weird that all boards start hashing except one ...
Well it doesn't count every hash so it's an approximation based on the number of hashes at a certain difficulty per unit of time. It's probability based. Wait half an hour or check your pool for rheir stats as it might update more quickly. |
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I made it work, i'm only getting 1 TH/S  Seems like 1 board is not working right ? This is why my 1 TH/S ? Any ideeas why it is not working ? BTW: I only have 1 prisma it's supposed to show 8 boards ? Four physical but opt logical boards. How long did you let it run before checking the rate? |
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Can anyone explain to me how to set-up the PRISMAS ?
How do I use that BE controller ?how many wires from controller has to be in 1 miner and in the controller ?
How do I chain connect them ?
Honestly I have no ideea, please help !
You have to chain each of the Prisma's 4 boards together and then one wire to the controller. Each board must have a distinct address. Crazyguy has an explanation of how to configure the switches https://bitcointalk.org/index.php?topic=795477.0Also the BE controller might not be set up for your domain. The controller comes with a default IP address of 192.168.0.254 and the port to connect to the web interface is 8000. To connect to the web interface you will need to make sure the system you are using has an IP address in the same subnet as the controller (192.168.0.x) and once you connect you can change the default address of the controller in the settings dialogue. Go to Dogie's setup guide: https://bitcointalk.org/index.php?topic=769570 (I know it's for the tube but trust me...) Scroll down to section 5a Configuration and follow the "Alternative Subnet Change" instructions to set up the controller for the proper domain. Hope it helps |
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