This is 10 of them on a controller\outlet:








Think about it.  A gridseed single used like 7 watts with the fan, 4-5 watts without.  A blade is 16 of those.  You could tell the rating on the box\websites was overly cautious.

The Gridseed blade consumes 90 watts each at 838Mhz while hashing at 5.7Mh/s and 5 of them will run you around 2700ish without doing any bargain hunting.  They are quite frankly better in every way.  But the main thing is, they have been around for months now.  There was no need to take the huge risk of a preorder to get them.  So yea these things would have been nice two or three months ago to complete with gridseeds.  Now though, whats the point?
My facts are not off.  I run dozens of blades and I can assure you, regardless of what it says on the box the average one pulls 90 watts or less from the wall.  Overvolted and overlocked ones can pull 140 watts, but then you would only need four of those to match the SF so the gridseed wins even more in that case. 

True.  But then neither is whining about it on a forum.  So I guess we're even

What do you expect?  When you preorder from one of these companies they typically make it very clear in their terms (the contract) that there is no guaranteed delivery date, and no penalty to be paid if they fail to deliver by a certain date.  Why anyone would agree to such terms is beyond me but people do, and then act surprised when the companies honor the contracts as it is written as opposed to what they feel should be "ethical", whatever that means in this context. 

You're wrong.  This is the cycle of mining:

1.  Asic company develops new miner.
2.  Asic company mines with new miner.
3.  Having used up the best part of it's profitability, Asic company sells miner to end user for more BTC than it will ever generate.
4.  End user mines with it indefinitely because the cost they payed is a sunk cost so why not.

So you see, it is very possible following this model for mining to never be profitable for "ordinary" people, while at the same time new asics continue to come out and drive up the difficulty.  Since really, only steps 1 and 2 are needed for difficulty to go up.  This is how it works now.

Fixed that for you.

I understand where you are coming from.  It always sucks when you put a lot of time and money into something, only to find out it didn't work.  You still feel that it is worth a lot, even though, these things are worth what people will pay for them. 
I actually really like your site.  If your minimum bid were substantially lower, I would even take a flier on it myself.  But the fact is, this is highly speculative.  It is very unlikely to ever make any money no matter how much time\money is sunk into it, and as such there is no way it justifies the price you are looking for. 
At the end of the day, no one cares how much time or effort you spent on the business.  All we care about is the revenue (there is none), the brand (there is none) the customer base (there is none) and the market, which at the moment is super saturated and dominated by larger players. 
It has nothing to do with us being "cheap".  Don't take my word for it, just go over to places like flippa and see what businesses with no revenue and no customer base are worth to get a more realistic idea of what you have here. 

I'm sorry for your loss.

Is the LOL for anyone who ordered this garbage?  They promised it would run at 20Mh/s and consume 200 watts.  Instead it runs at 28Mh/s but consumes almost 500 watts.  5 Gridseed bladed cost the same, use the same amount of power, and hash at the same rate.  Except you didn't have to take on the enormous risk of a preorder to get them.  Not to mention they have been available for months now.

I actually liked this interview though because the seller explains very clearly why preorders like these can never be profitable for the customer (though I don't think he intended it that way).  He explains how timing is so very critical for these devices, that the first month is the majority of the profits, all things we know but maybe some customers clearly don't know.  He then explains how they were keeping the first batches, about half of them, to mine with themselves, and then only when they had run them for a while would the rest be delivered to customers who now have no hope of ever getting their money back (it's implied; he didn't come right out and say that of course).   A series of events I expect to see happen again if KnC ever delivers their Titan.  Gridseed and Innosilicon do the same thing just without the preorder.
And that is why most people who buy these things lose money.  There is the huge risk that the company you preorder from will walk away with your money, fail to finish in time, finish way out of spec, etc.  But even if they finish completely on time and completely in spec you still won't make any money because they won't deliver the devises until they have mined most of the profit out of them.

The US has not lifted the trademark.  The trademark remains in effect during the appeal process. 

I guess I don't see it that way.


WC and AC regardless of their merits as coins were extremely profitable to mine.  Same thing with Shibe (and Doje, though you didn't mention it).  BLU was messed up be crappy development or 51% attack or something like that but you can hardly hold IPO responsible for that.  And even so, it still turned out to be very profitable, once it got back on an exchange.  OC wasn't anything special, but it isn't like we lost money mining it, it just didn't make the usual huge returns we have come to expect from here.  I'm not sure how you could really expect better, at least as far as scrypt goes. 

Given the price, electrical consumption is pretty much irrelevant.  By my estimation, this thing will generate ~ 10BTC in the course of an entire year, if started today, and if it consumed NO electricity.  Given that you don't even have it yet , I bid 5 BTC.

It was nothing scientific, I just noticed from personal experience that a lot of the units I hooked up, initially only one board would work, or sometimes the last board on the controller wouldn't work (like, hook 10 blades up to an rpi, 20 boards and the 20th doesn't work).  So I figured if I had that problem, other people probably did too.   Every single one so far I got like that turned out working just fine.  What I do, is whatever you feel a fair price for a working blade is, offer 40% (I start at 40% but will pay up to 50% if they haggle with me).  If for some reason you get one that legit is broken you didn't really lose anything.  So far though, I haven't had a single one that was legit broken.  I actually just got another one yesterday for $150 just waiting for delivery. 

I highly doubt that.  More likely explanation is they didn't want to have the possibility of chargebacks when they failed to deliver.  Same as KNC.  This leaves them in complete control of the refund process.

You obviously can't read.

What I mean by terrible deal, just look at the terms you agreed to:

You agreed to completely fund their entirely operation (along with the other "customers"), thus taking on 100% of the risk.  With absolutely NO say whatsoever in what they do, how they operate; you can't even SEE how they operate let along control it!  And of course no claim at all to any of their assets.  Well of course they aren't going to make decisions based on what makes you money, but what makes them money.  Sure they offered a money back of some sort, why would you trust them?  Would you buy something on here from someone you didn't know without using escrow?  Why are these guys any different, you didn't know them either.
But the best part is they were never under any obligation to actually deliver a miner anyways.  They could entirely within the legal context of the agreement, finish the miners right on time, and then keep them themselves and mine with them and there is nothing you could do except demand a refund (with them even profiting off of that, due to being able to pick the exchange rate BTC or USD whichever they preferred).  Or perhaps they could have successfully stalled you long enough to actually deliver a miner after they were done with it and it was no longer profitable.  Either way, within the terms of the agreement, they didn't have to scam you at all or break any contracts to completely rip you off.  It just amazes me that people sign these deals that are so clearly terrible and then act surprised when it doesn't work out.

You assume that there IS a better solution, or any good solution.  If the only way to get into a market is to take a really really crappy deal, then the solution isn't to take the crappy deal, it's to not get into the market at all. 
It isn't intended as an "I told you so", though I can see how it comes across that way.  The reason I harp against these types of preorders is because they are NEVER a good deal for the customer.  There's a reason these companies choose to finance their operations this way, as opposed to going with more traditional financing options and that is because no experienced financier would ever in a million years accept the terrible terms of the deal. 
BUT, they still need financing, and customers are still a better option than real investors.  If we collectively refuse to accept terrible terms they would have no choice but to offer better terms.  They don't do that though because customers are willing to take terrible terms.  Thats the point, you still seem to see this as a good decision on your part that simply went unlucky.  It isn't, and it wasn't.  It was a terrible deal from the get go and luck had nothing to do with it, you were never going to profit from this business decision.  Unfortunately, as long as people continue to throw money at companies like this they will see no reason to change their business practices. 

I think you drastically overestimate the the impact cost of electricity has on the network hashrate.  Even for ordinary miners, the cost of electricity isn't the prohibitive cost, it is the cost of the unit itself compared to how much it will ever mine, if run essentially forever.  Look at how many miners are for sale today (especially older units) that will never ever ROI even if you run them for years and years with free electricity. 
Of course, this only represents a small percentage of the network.  The major players in the market, the huge ASIC companies and their accompanying data centers, pay pennies on the dollar for their machines and hence they are enormously profitable no matter what the electricity cost is.  Especially when you consider that the majority of the profitability is in the very beginning and after that they can turn around and sell them as new to customers to get back more than they even paid in the first place, electrical costs are essentially a non factor.  There are R&D costs of course but they use "customers" to cover those....Then as if that isn't enough they can always sell mining contracts for even more money....
No, these data centers are enormously profitable and will remain so for the foreseeable future.  But, this model only works for them as long as they can continue to come up with bigger and bigger units, hence the constant increase in hashrate. 

Just as a little thought experiment to see how this works for them, imagine I gave you say, an SP10 a month before anyone else had one, AND sold it to you for only like 500 dollars, AND gave you an interest free loan to cover the cost that wasn't due until whenever you felt like paying it back.  And you can sell the unit for 5 times that after mining with it for a month or two.  It is impossible for you to not make money on this deal even if you pay some ridiculously expensive price for power.

Are you sure that the boards are actually dead?  What I mean is, when I first started using blades back when they were brand new I had a similar issue, one board on each unit would not work which seemed strange that I would get so many boards with the exact same issue.  It wasn't the boards of course, it was the software and after correcting that they all worked fine (incidentally, I got like half my blades from people selling such "broken" boards for huge discounts on ebay). 
I guess what I am saying is, obviously I don't know what happened in your case but I know for myself, if I sold you a blade and you couldn't get it to run right with your software but the blade itself was working correctly, I wouldn't compensate you either...So I can't really fault them if that is what happened.

LOL this is cute.  Here it is I thought you guys were simply incompetent with your reviews but that they were an attempt to be impartial.  Turns out you were just shilling for another company.  Cute, real cute. 
I'm not sure if my favorite part is your continued insistence that the only miners actually in existence are crap, or that you attack the rest for being vaporware when you yourself are selling vaporware, or perhaps it's your insistence the timeline for delivery will be met on time when you couldn't even post your blog update on time....

Anyways, you know the drill.  Get back to us when you have working machines available for delivery, no one wants your preorder shit.