Safe, reliable mining hardware for beginner : where to buy online ?
is it possible to pay with bitcoins and what company selling them do you suggest is safe for shipping and good prices ?
I alrady have spotted 2 place I could buy, but looking for ideas, tips or deals about the best place you think there is to buy first hardware...thanks!
Check my sig! Yes, if your goal has nothing to do with making a profit and only has to do with giving roadstress/SPtech your hard earned money then buy whatever overpriced hardware roadstress is pimping. Otherwise buy an Asicminer Prisma for less than half the price of anything SPtech is selling. Disclaimer: I'm an AM shareholder therefore will profit a fraction of a penny for each sale. |
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That is completely normal and has already been pointed out before.  As you can see they are always small amounts. Can you prove some payments originate from mining? Seems you either try your hardest to hide the mining or you're not mining. I know you've got a much better coin mixer since April but what's the point when you openly admit paying out directly from customer payments? Don't you realize that with such a shady business model you're limiting your customer base to naive investonomers and gamblers? |
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But why has the shareprice not reached 0 yet?  Could have something to do with AM's recent domination of the hardware market with the Prisma or maybe because the company has several million dollars in assets. |
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Isn't it funny that one month after my GB SP30 were delivered that the difficulty stopped? Looking back in the GB thread makes me smile at all those replies with nonstop +20% difficulty increase projections. Congrats. All of your customers will now only suffer a 50% loss instead of 70%, surely something to be proud of. Of course everyone who bought any ASIC before June has already turned a profit by now but as we know profit is irrelevant to SPtech hardware owners. |
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Now for the: Questions That Are Eating Away At Me Currently Power Cord: The Bitmain site says the A/C power cord (that they don't supply) must be rated for 6 amps ("Power line not included. You may look for one line with no less than 16A in your local market"). Those are kinda hard to find! I'm currently powering the S4 with a standard 10A PC power supply power cord. I do have a 16A one (it came with my EVGA SuperNOVA 1300G2 power supply, but it's busy powering my two S3's). You can definitely feel the thicker wire gauge, heavier weight and increased stiffness in the 16 amp compared to the flimsy-by-comparison standard 10 amp AC cords. But I had lots of flimsy 10 amp cords laying around and I wasn't about to wait 2 more days to start hashing while i wait for this new one to arrive: Tripp Lite Heavy Duty Power Cord, 16A,14AWG (NEMA 5-15P to IEC-320-C15) 8-ft.(P019-008) http://www.amazon.com/gp/product/B0091F8GP6/ $21.22 (free 2 day shipping if you have Amazon Prime) So my first question is: A. Does the S4 really *need* this monster $20 A/C cord? -- or (put into more practical terms) -- 2. is my house gonna burn down today (with my family in it) while I'm at work cuz I couldn't wait to start hashing? or III. DId I just waste $20 on a monster A/C cord because Bitmain exaggerated its requirements? I'm no expert but I believe it depends on your voltage. If it's 120V(like most wall outlets in the US) it would use 12.5A but if it's 220V it would only need ~7A. |
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Testing 225MHz @ 0.725v right now. Power draw = 1525w
What is the hashrate? It's advertised as 1380w at the wall at 2000GH/s. * Hash Rate: 2,000GH/s guaranteed
* Power Efficiency: 0.69Watt/GH/s at the wall
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Can we get actual proper specs on the included PSU?
Is this close?
1400w or 116.66A continuous 12v output? Assuming 88% efficiency, that should read as about 1591w at the wall if the miner is consuming 1400w DC correct? Who manufactures the PSU? I get a little nervous when I read "custom PSU".
It's 1400w at the wall. |
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Everyone has a different argument, but at the end of the day it really should boil down to ROI.
And compared to other investments in the world, 6 months to make all your money back (and potentially a lot more if you hold your BTC), is a pretty good investment if you ask me.
What it really boils down to is $/gh and w/gh and delivery date. ROI is all speculative but the simple fact is that if the S4's profit the Prismas will profit more. |
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Let's call 1.47BTC $600 and $100 for a PSU. That's about 50 cents a gh. I paid about 65 cents a gh on the S4, but it's more efficient. A wash maybe?
Depends on your power costs, but I think the difference between 0.69W (S4) and 0.75-0.78W (Prisma) would take a long time to make up for the difference in price. PSU (and controller too) is indeed an extra cost but not for everyone. I'm reusing my PSUs and have spare USB ports on on some cgminer-capable hardware here, so I'm saving money on that. Another factor is resale value, I think S4 has the advantage here. Since I am batch 1, I will post AMPs/Watts used and other information so we can compare to S4. Not sure how they can be the same one when is 1100W and the other is 1400W. But one is 2 TH and one is 1.4 TH. You have to break it down. Right, I just bought one prisma for experimenting. I already know what the S4 is, and I didn't want to pay over 3BTC and wait 6 months+ for ROI. Then really, you don't want it for different reasons. Now if you want to go real big, this is really the winner I think: http://www.spondoolies-tech.com/products/sp35-yukon-power-november-batch-1But the S4 is about as big as I want to get. If you do the math you will realize that the AM Prisma is a much better deal than the S4 and the SP35 is not even comparable. S4 is $1250+150 shipping so about $700/TH compared to the AM prisma at $500/TH. The difference in efficiency is about 100w/TH. At $0.1/kwh 100W would cost $0.24/day or $87.6/year so it would take more than 2 years to make up for the cost difference. SP35 is also $700/TH but it is shipping a month and a half later than the s4/prisma so it really doesn't even compare. |
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Genesis mining was banned on reddit (r/bitcoinmining) for using shills.
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I have to disagree with this: At RETAIL, the cost of such a setup would be $106 million. Assuming that, to be theoretical, the US government wanted to launch an attack on bitcoin, they wouldn’t buy these units at retail and would indeed be able to negotiate huge price breaks from whichever supplier they chose. Lets assume that in that sort of quantity the final cost for a finished unit is 1/8th of what ASICMINER charges at retail; that means that the total cost that the US government would currently have to spend to upend the bitcoin network is only a hair over $13 million dollars. ASICMiners production costs are not nearly 1/8th of their sales price. I'd guess their profit margins are 10-20%. They couldn't just buy 130PH from ASICMiner or any other manufacturer because they just don't have enough chips and it would take at least a few months to produce more. (not to mention I don't think any manufacturer would support a government plot to 51% attack the network) If the government wanted to design their own ASIC starting now it would take at least 1-2 years until they begin mass production and by that time $100m will barely put a dent in the network. |
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Looks like ~500 shares were transferred to havelock before the dumping of ~500 shares.
I've noticed each dump recently has been after hundreds of shares are transferred to havelock.
My guess would be it's an IPO shareholder looking to get out or manipulate the already thin market.
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It was true at the time the advertisement was made, which was the point of the accusations made which I was responding to. Don't try to play semantic games to make your false statements appear to be true (oddly enough Dogie appears to be the rational one in this case... Mind blown).
Dick Trickle there was asking about false advertising and I was responding. We did absolutely believe we would tape out in August when that ad copy was created.
I don't think you understand what your being sued for or what false advertising entails. Just because the statement may have been true for a few days doesn't mean you can advertise it for months after it becoming false. You guys edited the monarch page several times in the past months yet decided to conveniently leave up all the now false advertisements in order to bring in more customers. FTC is will soon prove that your little games do not fly. To refresh your memory, here's what you're being sued for: Deceptive Acts or Practices
An act or practice is deceptive where
• A representation, omission, or practice misleads
or is likely to mislead the consumer;
"accidentally" leaving up "tapeout in August" long after August is indeed likely to mislead the customer don't you think? Or what about accidentally leaving up the totally fair comparison that showed the competition at $17/gh and 2.5w/gh? |
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In the real world, companies fail and go through bankruptcy all the time. Not every company is BFL.
Normally those companies don't have millions of dollars worth of orders lined up with 90% profit margins before declaring bankruptcy. Hashfast was very successful, they just "mismanaged" their money is all. BFL who had similar delays was also very successful but they didn't lose their $45m profit. I'm berating the windfall-seekers and conspiracy theorists. They deserve it. Losing money by gambling on Bitcoin ASICs is not a valid excuse for A) ignoring contract law to justify greed or B) making up zany defamatory nonsense about drug-dealing self-mining arsonist bookies.
Isn't changing the contract several times ignoring contract law? If Hashfast would have just followed FTC guidelines (like the ones BFL is currently being sued for breaking) then preordering wouldn't have had to be a gamble. The only windfall seekers are Hashfast by promising that they can give a windfall(full btc refunds) and acquiring customers because of it. If they did manage to tunnel the money out of Hashfast then that would be a massive windfall. HF made the worlds fastest ASIC and almost recovered from their early mistakes. Throwing a tantrum and screaming 'it was a scam all along' is reprehensible and I am not afraid to condemn such behavior. What happens if you go to a casino and only start shouting "OMG IT'S A SCAM" *after* you lose at the craps table? Will anyone feel sorry for you? Or will the security guards help you find an exit?
How did they almost recover from their mistakes? They have had a working ASIC since January. Their one mistake was that their massive stacks of money magically disappeared. Honestly what happened to the money? |
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It's a bit ironic that the only fanatic supporter of hashfast, who dedicated countless hours/days/months of his time advertising/spamming hashfast products, is now the only avid defender of hashfasts epic failure fraud. It's quite clear ulterior motives are involved.
Icebreaker I've got a serious question for you:
How can you have absolutely no shame? I'd love to know how one can go about being such a massive fuckup, cost several victims thousands of dollars, and feel good about it.
Whether you care to admit it, you are likely responsible for several thousand dollars worth of sales from your several month long advertisement campaign.
Regardless of your twisted agenda driven opinion, hashfast did act fraudulently. There is no other way to explain how a company could lose $50 million when production costs should have been no more than $5m. (and before you bring up NRE, it was paid for before taking in preorders)
You are responsible for several thousand dollars in losses yet you come here daily to berate the victims of your own ineptitude. Quite disgraceful if you ask me.
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- Hashlets can never be unprofitable/never breaks down
By never being unprofitable what they mean is that their hosting fee will ALWAYS be less than the miner makes in a day. Meaning that if the miner gets down to less than $0.08 a day, they will reduce their hosting fee. It never breaks down because most likely we are buying shares of hardware power that they maintain for us
Nobody can guarantee miner's profitability unless the hardware and electricity comes for free. Ponzis always pay the first (except cryptcominer  ) You probably will have ROI but many people won't because this is a scam. If you feel good about it go on. Do you understand that they are not guaranteeing that you will make 100% ROI? They are ONLY guaranteeing that their fees will always be less than the amount of bitcoins mined. Meaning that one day they may have to drop their fee to $0.00 so that your $0.000000000001/day is still "profitable". Don't be tricked by their wording. I don't think you understand. They cannot guarantee their fees are less than the amount of bitcoins mined unless they have free electricity. You say don't be tricked by their wording yet GAWminer puts so much effort in to tricking you with their wording. |
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I am extremely tired of the Hyip and Ponzi accusations with basis at GAW, or for any cloud hosting company. The returns are more than realistic and maintenance fees are fine. GAW has been quite honest so far and there has been no evidence of Ponzi schemes.
The lack of evidence of real mining is in fact evidence of a ponzi scheme. You shouldn't be extremely tired of ponzi accusations, you should be extremely tired of the absurd number of cloudmining ponzi schemes. Yes, GAW is making a change to the industry; mining will actually be PROFITABLE, you heard it, PROFITABLE.
Yes, GAW will revolutionize the industry with it's patented unicorn dust that doubles hashrate on demand as well as their free electricity generators, algorithm changing asics, and other technological breakthroughs. |
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