Agreed, previously, until my bank refused to send a wire to Hong Kong, looked at other options and they all involved a 3-5 day delay
so I can understand why folk on this forum not only think that that is asinine but also wish to exploit the ease of using crypto currency
and NOT dealing with freaky bank policies and procedures!

"The last posting from your IP was less than 360 seconds ago. Please try again later. The thing you were trying to post was saved as a draft. This limit decreases substantially as your account becomes more established. "

Tried to send this to an admin:

"I am trying to contribute to this forum. This message is starting
to get real old, just following up on a few threads requires me to
post 2-3 in succession:

"The last posting from your IP was less than 360 seconds ago. Please try again later. The thing you were trying to post was saved as a draft. This limit decreases substantially as your account becomes more established. "

..."

Tried to reply to another poster in this thread:


This is strange. Shouldn't they just say pay this amount of bitcoin?! I mean does every USD transaction say please add 0 BTC?!
I mean come on! So many companies have a built in fee or use a slightly different BTC value to account for fluctuations that
that should be more the common practice. I am wondering if there isn't ANOTHER reason they are being so sketchy??? Does
anyone know? I am about to spend my money there and would like those that have had experiences PAYING this company to
post a bit more, thanks!

I'll bite! Happy Thanksgiving!

So my bank calls my after I initiated the wire! And they are saying they don't send ANY international wires!
Are banks weird or what? I used to think they were, now I KNOW they are! Funny thing, Canaan's bank is
Citibank, a much larger USA bank than my puny bank!
So now I am talking to Canaan about supporting the blockchain and trying to get to the bottom of why they
don't accept it in the first place. Sorry if I misjudged any of you based on your reluctance to send a wire!!!

I apologize and I eat crow!

 

Well I know there are a lot of purists on this board, however, supporting the blockchain doesn't mean that every single transaction
one does must be in blockchain, or does it?! That being said instead of making my next bitcoin purchase I left off $2000 and paid
my Canaan Avalon 721 (qty 2 plus controller) order with a wire from my bank:


    From:Online Savings ******XXXX
    Wire Amount: $1,962.16
    Request Date: Nov 23, 2016
    Beneficiary (Recipient): Canaan Creative Hong Kong Co., Limited
    Beneficiary Bank Name: CITIBANK, N.A.
    Beneficiary Account Number: 4XXXXXX5
    Beneficiary Bank Routing Number: 0XXXXXX9
    For Further Credit To / Additional Instructions: Swift Number CITMOREXXXX

I wonder if most of the guys that speak the loudest against a company that may need cash for some reason or other are truly
sincere about buying their products. That not being any of my business, however, I would like to support this company, especially
if the equipment works when it arrives!

PS As I previously posted if you wish to discuss alternate methods of payment with them place an order and open a ticket about
payment. Best regards all!

A note from Canaan, I received just now, about the payment options, just the messenger, flame if you need the
boost!

"Jon
November 22, 2016 10:09 pm

Hi, good question. Let me ask and get back to you about this tomorrow during Beijing business hours.

Oh, thanks for point out that thread on Bitcointalk. If you want to let the others know, WE ARE LISTENING, and THEY ARE HEARD! We will do our best for our customers and people should place orders and we have great new solutions to be handled directly with the customers if they place their order today.

Thanks!

Jon
"

As previously stated. They know they are selling worthless contracts. They hide that fact behind obfuscated language. But
they know, and they know for sure. And their founder is sipping mint juleps on all the fraud proceeds!

You guys call that scam. I call it FRAUD!
It needs to be stopped.

Just my humble opinion, I am sure many legal authorities will agree with me.

Excellent information here, thanks to all of you that have commented!

Does anyone know how much bitcoin an Avalon 721 can mine in a day/week/month on the average?
I believe I am going to buy 2 tomorrow regardless of the answer just to have the experience. I have
seen a lot of "costs" studies but I cannot think about that until I know exactly how much electricity
is going to cost and so forth. At any rate if I hate it after 3-6 months I can always sell them at a
loss.

Best regards all!

Help, I am a computer guy. I see a lot of talk about EVGA and power supplies but no one mentions UPS.
UPS is not required or not desired or?

ps my note to Genesis:

"Hello, After some research it is becoming clear to me that Genesis Mining Company knows that the contracts they sell are virtually worthless and that you must continue to sell these worthless contracts to fund operations as current operations are not covering expenses."

pre credit card cancellation note!

I feel it my duty to report here I purchased 3 contracts with Genesis Mining and that I believe they are selling worthless contracts and
know exactly that these contracts will be worthless***. I would advise anyone who has paid them to cancel your credit card asap and not
to think twice.

Do the math your self:

Term Hashpower Type    Price
"lifetime" 7.5 TH/s     sha256    USD 1,050.00
1 year 39 H/s     equihash    USD 1,120.01
2 years 50 MH/s     x11    USD 410.00

Anyone with an eyeball can see that the above cannot return profit and/or will cause loss of principal only. So
it is simply pay to play. Better to get some mining equipment that might give a return over 3-5 years...might!
Though it seems the mining equipment companies (different thread) are a former version of this con/scam, they
are getting a little better these days...but not much!

If you have miners in your basement you are most likely operating at a loss.
If you have a couple hundred miners in a data center you are most likely operating at a loss, unless
most of them were purchased a year or so ago, and still, after the doubling it is a fine line.
If you have a few thousand miners in various data centers that have very very low power costs and cheap
labor you MIGHT be able to make a profit!

That's it, my personal comments and opinions. Don't call me for "proof", do your own math!

***Just to spell it out I believe selling known worthless contracts is an application of the term "fraud" and should be
categorized as such. Some of you may prefer "hustle" or "scam" to use less legally defined terms, however, I believe
folk that do these things (and companies) should be heavily discouraged and called out, to protect the less informed,
which is another good reason we have forums like this!

Excellent information here, thanks, and especially for Avalon. I am thinking to start with 2 Avalon 721's.
What power supplies are folk using? I don't see any listed on their site.

I notice Avalon does not have a power support for sale on their site. What are you using for a power supply for the AvalonMiner 721's?
Please forgive (or flame) me if this was discussed previously and I missed it.

Hi all,

Forgive my newbie post. I want to learn about mining so I should order a couple Antminer S9's.
I have seen a few horror story posts. Some related to the Bitmain company itself and so forth.
Please advise who / which companies can be trusted to purchase this equipment.

Also, can 2 Antminer S9's run in a small air conditioned room without heat issues or must special
fans be setup?

Thanks,
~g