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Alternate cryptocurrencies / Mining (Altcoins) / Re: Bitmain just announced the AntMiner A3 - 815GH/s Siacoin miner - Blake(2b)
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on: January 19, 2018, 02:19:00 PM
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Talk about irresponsible reporting. Since when is pointing ASIC support at a new protocol anything but positive for that initiative?? Near as I can tell, this is great for the team on so many levels. Support, Security and not the least being, unbelievable elevation of recognition in the crypto world by virtue of this move! Now EVERYONE knows who they are!
"It now sees as though Bitmain are looking to squeeze the life out of another virtual currency - Siacoin."
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Alternate cryptocurrencies / Mining (Altcoins) / Re: [NEW] Bitmain Announces Antminer A3
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on: January 19, 2018, 02:11:29 PM
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Official response from the SIA [SC] Dev Team
"Bitmain has announced an ASIC miner for Sia. This has made a lot of people uneasy, especially those who preordered Obelisk units. So I'll first address the Obelisk units in isolation. Though we don't have the full chips back yet, the chips are in production and we have our final simulations. We can confidently state that the bitmain unit is far less energy efficient, costs more money, and is an objectively worse miner than the SC1. So people who ordered Obelisk units will still be receiving hardware of substantial value.
As a developer, Bitmain moving into the Sia space makes me uneasy. Bitmain has historically been extremely greedy, and very willing to sacrifice the well being of the community, of their customers, and of the ecosystem if it means they can make a couple of extra dollars. The biggest way this has manifested for altcoins is that they will over-sell hardware. When a ton of miners suddenly join the network, the difficulty adjusts. If too many miners join the network, nobody is able to make any money, and everyone eats a loss on their hardware purchase.
Bitmain has no qualms about overselling their units to buyers. They take massive margins on their hardware (>50%) and make more money than the total block reward at the expense of their customers. They over-saturate the mining market in a way that hurts their buyers. I think we will see this with Sia. Bitmain will sell more units than the Sia ecosystem can sustain, and many people end up with large losses. Bitmain will not end up with losses, because they were paid up-front with non-refundable money.
Bitmain also has a history of doing things like mining empty blocks, and like refusing to activate soft-forks that are beneficial to the network. They were openly hostile to the Bhttps://bitcointalk.org/index.php?topic=2769785.120itcoin-core developers, and actively blocked the activation of a very valuable network feature (Segwit).
We, the dev team, are not happy that Bitmain has made an ASIC for Sia. We are not happy that many Sia supporters are at risk of losing money by buying these miners (from over-saturation), and we are not happy that Bitmain may choose to interfere with our network. This is not a commentary on general ASIC companies, this is a commentary on Bitmain specifically.
We did add an extra feature to the SC1 unit that would allow us to invalidate the Bitmain hardware without invalidating the SC1. The community would need to choose to adopt a soft-fork (it's not something we could just magically activate, we have to change the hashing algorithm slightly), and then we could get rid of this cycle of Bitmain hardware. Of course, they could just create another round of hardware (likely taking ~3 months). And, it would hurt Bitmain customers more than it would hurt Bitmain. Bitmain has already sold around $20 million of non-refundable hardware. They have made their profit, and a soft-fork wouldn't change that.
As much as I would like to punch Bitmain in the nose, I don't think a soft-fork achieves what we want. If the hardware is used to harm the Sia network, either by doing double spends, rejecting soft forks, mining empty blocks, we will invalidate it without hesitation. But for the time being, I think the best thing to do is to advise people not to buy the Bitmain hardware (to protect yourself from the oversaturation that Bitmain tries to create), and then to watch and wait, and respond more if it appears that the network is under attack. Overall though, I do not think Sia is in trouble.
I am looking forward to the thoughts from the community."
https://www.youtube.com/watch?v=f4bxnepOcyMOkay.....I had to stop listening to that. While your premise is correct and THEY KNOW it. You are the rudest, most loudmouthed little asshole I've ever heard. You spend 5 minutes telling everyone what an amazing force you are in the Block Chain and then you start talking like a typical little nutless punk. You rage empty threats, swear constantly to try and sound tough yet, you can hardly even express a cogent thought. You like threatening people? Here's a promise, not a threat. If I had to spend more than 30 seconds in a room with a loudmouthed shitstain little punk like you, I would literally beat you into retardation. What a complete piece of shit you are. |
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366
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Alternate cryptocurrencies / Mining (Altcoins) / Re: Bitmain just announced the AntMiner A3 - 815GH/s Siacoin miner - Blake(2b)
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on: January 19, 2018, 01:50:35 PM
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Uh shouldnt concern you though right.. i actually applaud cryptocrane for handling his business! Well done!
How were you able to get around Bitmain's 1/customer limit? Did you simply purchase using multiple accounts or did you purchase from the Chinese site?
Come on, we know who you are  I'm sure you found a way around it and will start selling them at mad markups like you did with the D3. What did you charge ppl for D3 again ? 10 K ?  I wonder how many you sold before it all went to hell As professional miners it does concern us. His type are taking large swaths of availability off the supply chain so we can't do our jobs. He has no license as a distributor. He knowingly charges people 3,4,5 and 6 times what they are worth to stuff his own pockets. Knowing full well those people are going to lose a LOT of money. He is a criminal and should be in jail. You seem like an aspiring criminal too. Congratulations. You're another dreg in a world full of dregs. |
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367
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Bitcoin / Bitcoin Discussion / Re: Kodak starts bitcoin mining + launches KodakCoin
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on: January 19, 2018, 12:25:19 AM
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most likely they just want to play on a hype trend
Exactly. That's all this is. A company jumping on a hype, hoping to see their shares rise (which is exactly what happened). Can't blame them I guess, but it's pretty dumb Actually you can "blame" them. As a matter of fact, the executives of Kodak are so stupid that 7 of them bought large blocks of the Company's common shares 1 and 2 days prior to the announcement and literally sold them the day OF the announcement. The SEC is absolutely looking to "blame them" and I would bet a large amount of money that several Kodak insiders are going to jail for insider trading. Look it up. The SEC investigation is already underway. The dumbshits also sold the shares way before they actually rallied to the highs. They got so anxious they left millions on the table. Which they will need to pay their attorneys. |
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370
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Alternate cryptocurrencies / Mining (Altcoins) / Re: Bitmain just announced the AntMiner A3 - 815GH/s Siacoin miner - Blake(2b)
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on: January 19, 2018, 12:11:41 AM
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Those numbers are likely right but the reality is that they don't account for the difficulty spike... for a few days initially you will likely make huge profits until more Asics come online... There is a very good chance the first owners will cover the cost of their A3's in the first 30 days but after that, it's not likely.
If SIA decides to softfork the network to invalidate the Bitmain ASIC, that is also going to create some issues.
It's all a gamble right now.
Me, I'm waiting on my Obelisk(s) and will support that venture at this time.
From the looks of it this ASIC hunt is like an arms race  Whoever gets it first wins. Although, aren't the guys who develop these make huge profits first and just start to sell them only after that to everybody? From a pure profit standpoint, you're absolutely right. Me I support SIA first, profits from SIA second. It's for this reason and some others I'm choosing not the buy the A3 at this time. The thing is, you can still go to Obelisk site and pre-order the Blake2b miners from their second batch until the end of the month. I was considering it, but did not like the wait. This was sort of an introduction to me showing how Bitcointalk works,,,, when this Obelisk miner came out, no one was talking about it here (trying to keep it quiet I suppose, lol). I couldn't even find a thread about it here at Bitcointalk. It looks like many experienced miners loaded up on the Obelisk offer and now will be left holding the bag. I am sure the Obelisk miner will still ROI, but not nearly as fast. My lesson is, if you are being offered a coin specific ASIC miner, then the offer is worthless unless you receive miner right away. This 3-7month pre-order BS does not work when you have cash hungry capable competition You must have missed this thread - https://bitcointalk.org/index.php?topic=1976753.0Yes I did. Thx. Sort of feel sorry for all of their early investors/buyers. Just a tad. Obelisk had to have known that they were not working in a vacuum. Competition is going to come. This is an interesting development and just a prelude of what is to come,,,, because,,,, in short time (2-3 years) EVERY major coin will have ASICs developed. GPU mining will always be possible for multiple shitcoins, but ASICs will dominate. Until AI, which will likely be the ASIC's replacement tech. Which coincidentally, Bitmain is ALREADY working on. (Sophon?) Probably the real reason for their move towards Sia. Cloud storage seems to be a critical element of AI development. This stuff is all way over my head, but I can see a pattern developing here. |
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Alternate cryptocurrencies / Mining (Altcoins) / Re: [NEW] Bitmain Announces Antminer A3
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on: January 18, 2018, 07:16:20 PM
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People love to blame Bitmain. Honestly the information is out there. It's not their fault people ignore the warnings and go ahead and take the risk anyway thinking the best will happen when in fact it will not. It's ALWAYS the worst case scenario that comes to pass in mining. Sometimes we just gotta take responsibility for our own stupidity.
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377
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Alternate cryptocurrencies / Mining (Altcoins) / Re: [NEW] Bitmain Announces Antminer A3
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on: January 18, 2018, 04:37:25 PM
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can I buy SIA coin?
bittrex has it but its disabled.
it might be good time for buying before price go crazy
or maybe it gets destroyed after all these new A3s mine it and dump it for btc If history show us an example, I believe initially you are right. Think DASH. It wasn't until there was blood all over the floor, that it took a moonshot. Typical investor psychology really. Of course all the new miners will depress the price with cash outs for profit. That will likely be shortsighted and a bad decision. My approach is, when it all looks to be lost and they have written SC's epitath and the A3 owners are crying like babies......THEN you start loading up on SC. It works EVERY time. |
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379
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Alternate cryptocurrencies / Mining (Altcoins) / Re: [NEW] Bitmain Announces Antminer A3
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on: January 18, 2018, 02:56:48 PM
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I have to commend Bitmain for this for such a fair launch limiting reseller gouging
, this is going to be truly fair and decentralized mining at least for the first batches lets hope
Well, at least they are trying. You can bet your ass that Cryptocrane the notorious "price gouging reseller" Has already set up 50 email accounts and 50 diff bitmain accounts. Look for his offerings on Amazon for around $10,000 per miner soon. That guy's f@cked more people than a serial rapist. well that dream is dead , now that we have idiots like the previous poster creating 20 fucking accounts lol I bet those market guys are doing the same, bitmain will wise up though probably cancel some of the orders with 10 plus miners going to the same addy Stugots is "mining" the hardware. He's taking risk and a positive influence to the space. He's not gouging unsuspecting Newb's and flooding the aftermarket with poison and never to be profitable marked up miners. I believe your angst is poorly directed. Guys like he and I are building a business. Slowly and conservatively. The old fashioned way. Bootstraps. The only time I've sold miners, it was to other miners and only to upgrade or diversify. I still have 98% of all miners I ever purchased. Guys like Stugots and I CAN'T build our businesses very well with people like "Cryptocrane" out there just gouging people and setting them up for huge losses. I understand your anger and share it, but it is misplaced. |
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