In comparison, the dollar is doing a better job. Because the prices at the grocer are the same as 3 months ago.
I don't think that you go to grocery stores quote often, LOL. The price of beef in US is 30-40% higher than 12mo ago. The price of walnuts (I like them) is up more than 50% in the last couple of years-I see it first hand. |
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Hey Guy -- received my tracking number today, thank you
I have 2 outstanding questions regarding the compensation email I sent to sales earlier this week that I'll repeat here:
1) Since I paid in BTC, can you refund in BTC rather than bank wire?
2) Is the coupon transferable?
The coupon is transferable (poor Katya ...) Guy could be a good way to attract new customers-everybody likes a bargain |
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Got my SP30 today. Very fast delivery
I must say these are the luxury line of BTC miners currently available. Top notch engineering!
Fast delivery? Maybe for you. My miner was "theoretically" shipped on Wed and is scheduled to be delivered in a week (by Wed, Sept 3). Sigh. Where you guys host these things? It is getting ugly on the hosting thread and it looks like hosting is a tough business. |
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The reinvestment allowed me to hash today 21x faster than 1 year ago and to earn ~1/3 of my initial investment this month.
The 'Reinvest At Any Cost' strategy looses to the long tail of diminishing returns and languishing bitcoin prices. So far mining strategy was more successful for me than buy and hold (BTC) strategy-seriously. I refuse to frequently trade BTC because for me fast trading never works. |
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Can we keep the forum professional and avoid names calling ?
some people should entertain happy thoughts: when Sp-30 is working at the hosting site and nobody is there to check it, does it make a sound? |
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When you buy a car, they advertise the MPG, that it won't rust for 20 years and of course, the price. How many guys did you see complaining that they bought a Mustang and they can't drive with a speed of 10 miles per hour and obtain the advertised MPG rate? How many of those guys did you see whining to FORD about compensation in price, because their product does not meet the specifications? How many guys are complaining that their car does not reach the 180MPH printed on the dashboard? They bought the Mustang, and they're free to return it or resell it.
Why would be the mining business different? Or any business for that matter? Everything changes when you reach understanding ..
What a stupid analogy. When a car manufacturer advertises 20 MPG, you can reach it by driving appropriately, and in fact you can exceed it quite easily. See http://en.wikipedia.org/wiki/Energy-efficient_driving for examples. Now, show me how you get an SP30 to run at 5.5 TH/s while drawing 2700 watts? I agree that it was a bad analogy. Miner (especially hosted miner) has no other utility than making BTC while car has a utility of getting you from point A to point B. |
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Are they switching to 20nm for S4? Any info when we can expect it at all?
I highly doubt it. Chances are they're going to follow the same paradigm with the S4 as they did with the S2: lots of underclocked chips. So, they'll continue to use the BM1382 that's in the S3. Quite honestly, I'd expect the S4 to look pretty much exactly like the S2, with some minor improvements like better bracing of the hashing boards on the backplane, etc. My expectation is somewhere around 2.2TH/s at 1300W will be the specs on the unit. Well whats the point of making new ones at the same W/GH ratio? We can just order bunches S3s. It's a better W/GH ratio... S3 is 0.77W/GH, my expectation above is about 0.59W/GH. I don't think they're going to see the kind of improvement they saw on the S1/S2 simply because the BM1382 chip is already achieving a respectable power to hash ratio. Hopefully I'm wrong and they manage less than 0.5W/GH... but I doubt it. there is not much money in s4. even at 1300 w/2.2th it has to be just $1500-1600 to be a leader/competitive in the next mo or two. |
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Order #127X.
Got my tracking info.
Hope they get to Washington by Friday!
how exactly they determine the order, i wonder? I have order 11XX, but did not receive any email. One day extra in shipping could mean 3 extra days delayed because of Sat, Sunday and labor day Monday. I would like to hear why orders with later numbers are being emailed/shipped first. |
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they cannot be a backbone because it is a small percentage of the network currently and in the near future.
A very small backbone like an atlas (C1) then. It remains to be seen whether spondoolies will be able to increase volume as planned (chip sales might help here). yes, fair comparison-I see that someone here knows anatomy  |
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Nobody can give a good prediction on this, as the parameters to calculate it are largely unknown.
A typical lifetime for a miner has been around 1 year , which is mainly due to high historical efficiency increases.
Current generation Spondoolies miners could proove to be a reliable backbone of the blockchain for over 1 year, if difficulty growth decreases as expected and / or bitcoin value increases.
they cannot be a backbone because it is a small percentage of the network currently and in the near future. |
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@ wissam
If you are so disappointed, why donīt you go for the refund?
Complaining on the forum how you think there will be perpetual difficulty rise and other factors not within direct control of spondoolies will certainly not help your position.
You will notice that the cost for the SP31 is about the same price of the SP30 I paid for but it has an additional 1TH speed. so they can sell the better/faster SP31 device for cheaper but not the SP30 after all the delays and disappointment that affects customer's return in such a negative way? @wissam you seem to be new to this "racket", but there will be about a month-month and a half between Sp-30 and SP-31, which means miner with higher speed, paradoxically, will most likely NOT produce more bitcoins. Spond basically calculated Sp-31 price based on ~22% increase in difficulty vs ~22% higher speed for almost the same price (after rebate)-at least that is what my numbers show. If there will be more than 22% difficulty increase between Sept batches and Sp-31, then Sp-30 WAS a better deal, and if less, than Sp-31 IS a better deal. The unknown makes the market and your risk in this choice. Edit: by the same calculation, GB, is definitely a better deal than Sept Sp-30 and almost certainly better than Sp-31. |
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@ wissam
If you are so disappointed, why donīt you go for the refund?
I think full refund is available (theoretically) only for the GB and he has (allegedly) September batch. |
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I don't see how ROI on the miners can be achieved if the difficulty increases so fast before the miners can even get to us and make any respectable $$$. Looks like our only hope is if the BTC to USD rate goes up and that's not a gamble anyone should be taking with their money, and on the other hand if BTC to USD drops then you can see how the people mining are the ones that are screwed even further here...
Personally I don't believe the cost of the hardware itself is justified, it's too expensive and the hardware manufacturers keep the buyers thinking that at current mining difficulty and rate they will get their money back in 3 months, but that is not true.
When I purchased the miners in July 24 or so the difficulty was about 17.34G at a BTC to USD rate of $650 expecting to get a decent return, now I still don't have my miners and I have to wait another 1 month, have spent $125,900 USD to Spondoolies, difficulty is now at 23.84G at a BTC to USD rate of $500. By the time I get my miners up and working the difficulty will be about 30.00G if not more and even if the rate stays at $500 I'm basically still screwed because the miners will probably not make their money back before they out live their useful life.
Everyone better think well and hard before buying mining equipment on pre-order with 2 months waiting time, never again. I hope I can get my money back by running my 29 x SP30 miners until they end up in the bin by January or February 2015...
Mining Hardware producers like Spondoolies and the rest are pretty much safe. We are the ones worried about getting our money back while they sell us expensive hardware on pre-order.
Spondoolies cannot guarantee positive ROI-nobody can. You took a large risk all at once and it MIGHT still work out, but it is better to spread the risk over time, in my opinion. |
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Are we there yet?
It is the end of the working day in Israel (unless you are loading SW on miners-that is an all nighter).
No email of any sort so far.
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rpietila, do you have any charts for total volume across all exchanges?
A bearish sign I just noticed yesterday, while switching tabs on bitcoinity and checking volume across several exchanges is that the volume is terrible compared to last year.
On some exchanges we are even lower than pre-november bubble.
This might be because volume is more spread out across all exchanges and this is what I would like to know if that's the case.
From Bitcoincharts.com, you can download all the data you need for making the comparison volume charts. I have some for my own use, and they confirm that volume is quite low now. I would attribute some of it to the increased OTC trading. Also people who hold BTC are satisfied with their holdings, the reason to shuffle them would come with increased prices but not before. If you don't hold the private keys, you don't have any bitcoin. It is like saying that if you don't control the "fundamental strings", then your body is not real. I agree that it might not be fully safe, but I tend to think that coinbase bitcoins are real as representations of value since i can exchange these "virtual' btc to "real" btc at exactly 1:1 currently. |
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A quick question about the statements on the product page for the SP31 indicating that 220v should be used.
I recognize that if the SP31 pulls 3kw at the wall which would trip a 20amp 120v line. I've multiple 20amp circuits and I don't want to pay to have 220v service moved into the closet. I presume that the power is evenly distributed across the two 1200w power supplies? Thus, plugging each one into a separate 20amp 120v circuit will work without any reduction in performance?
Any one doing this?
SP30 and SP31 have same PSU and pull same power. They can not pull 3kw in 120v, they are limited to about 2.5Kw, and there is reduction in performance. I don't remember how much exactly, maybe someone here who has 110V can answer. would it be too much to stick a 1600W power supply in there so this hashing difference would not manifest itself? just asking... why are you up at 5am pulling an allnighter? loading SW/FW on GB miners? i can see advantages in self assembly to a degree, but i am glad (at the moment) that I did not order this one http://jahlives.com/Rack/Tubes/screwed.jpg |
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A quick question about the statements on the product page for the SP31 indicating that 220v should be used.
I recognize that if the SP31 pulls 3kw at the wall which would trip a 20amp 120v line. I've multiple 20amp circuits and I don't want to pay to have 220v service moved into the closet. I presume that the power is evenly distributed across the two 1200w power supplies? Thus, plugging each one into a separate 20amp 120v circuit will work without any reduction in performance?
Any one doing this?
I think people already documented that it hashes at around 4-4.1TH on 110/120V (vs 4.4-4.5 on 220/240V), but, yes, each powersupply can go to a 20A circuit, so two 20A circuits would be sufficient. |
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So how much is the final compensation? $1500?
Since you clearly aren't one of their customers ('cause then you'd know), the answer to your question is: None of your business. You should ask him about his AM dividends... Anyone who invested in AM has already been paid back their original investment of 0.1 six times over. Has anyone who bought a spondoolies product even turned a profit yet? The reason I want to know the final compensation is because it will influence my opinion on how the company handles a major fuckup and whether I will consider buying from them in the future. I must ask, how can you have absolutely no shame? You sold ~200 overpriced miners which will never turn a profit (unless your SP-tech) and you deem it a huge success. I think that even the slow-corner ASICs of our first batch are currently the most power efficient in the market and one of the most competitive in $/Gh. That is impressive fuckup I would say. Don't bother answering since you been added to ignore list. I think the Neptune is more efficient isn't it? I stand corrected. They guaranty 3000 for 1950W = 0.65W/G. on 20nm We guaranty 4350 for 3000W = 0.67W/G. on 28nm and with slow corner Still not a fuckup. wait a minute here, what is this...we guarantee 4350? where is that came from? isn't it 4500? |
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What could possibly explain this highly periodic crash in overall network hashing speed? I think this is not a random thing, but rather some effect due to actions taken by minors. What is going on? That is a pretty strong down trend late in the cycle.  Livenet testing/shipping cycles could help explain some of it. Test Lot 1 causes the first increase. Shutdown Lot 1 and ship causing the first decrease. During the second cycle, Test Lot 2 while at the same time Lot 1 is arriving at the purchasers and being powered on. Test Lot 2 gets shut down and shipped to end users. Test Lot 3 comes online for testing while Test Lot 2 arrives at the end-user. Rinse. Repeat. However, I think this scenario, while possible, is unlikely as a manufacturer wouldn't necessarily start/test/shutdown/ship in lots like this. They'd probably cycle HW in and out of deployment testing and shipping. some entity switches on their quantum computer prototype in the middle of the cycle, then powers it off as not to cause too much disturbance. It helps with the expenses, . |
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The ROI with bitcoin purchases can depend on how you look at it. I purchased some S1s with bitcoins that I purchased at about $350. To keep the math simple, say the bitcoin value was $650 when I purchased an S1 at 1 BTC. Did the S1 cost me $350 or $650?
I feel that it only cost me $350 since that's what I paid for the 1 BTC.
For tax purposes, I'm using FIFO accounting similar to when opening and closing a stock "tax lot". But for tax purposes I'm not sure whether I should be taking a capital gain of $300 for when "I sold" the bitcoin and then claiming the S1 cost me $650.
Guess it depends on how the IRS treats. Will be fun at tax time.
You should look into whether or not you can qualify as a manufacturer in your jurisdiction. We had to take the issue to court with the state, but prevailed. Thus all digital products we produce are inventory; and there is no taxable event until the item which we manufactured is sold. Our position, was that the definition of manufacturing (in our area) was "Usuing machines, manpower, materials, and or energy to create a new tangible item." We argued that is exactly what we were doing. Rearranging 1s and 0s and producing paper wallets. Victory for us. We ended up landing a sales tax exemption, and manufacturing exemption. Strato interesting...where are you (in US)? Yes state, man, is it a secret? |
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