That's not a bad deal at all. That's like $4000 + whatever the mining rig makes. So basically soon as that thing started to run it was making %100 profit. I'd say that is a great exchange for writing some code.

Mine is on turbo and getting 1.4TH/s pretty steady. Not sense to fool around with it.

Because this forum software is crap, obsolete and out of date. It is horrible when reading and you want to respond to posts but haven't finished reading the thread. I won't even get into the whole site operator sitting on a hoard of bitcoin and didn't even get custom forum software when bitcoin was $1000. Worst decision of the century. It is apparent he's just a hoarder and holding onto the coin.

Jesus man, what's wrong with people. You guys are wrapped a little too tight.

My major wasn't business, so I'm not real business savvy. I guess in my mind I'm thinking what does a company do to build something? They get a loan or investors. This is what I thought could be done. I admit, I'm not real keen on how companies operate but I do know a lot of them operate in the red for many years before turning a profit. I really did think you had the choice to sell from stock, I really didn't know you were forced into the pre-order game. I guess you can't just go to the bank and take a loan, right?

I like the way the rig rests on the brackets and doesn't use the front brackets for all the weight. At my work I see these huge servers being held up by just the front brackets and I can't believe they hold up, even though some of them sag in the back.

Not that much. Instead of well over, maybe medium rare. Specifically it would be $4195, which I'll mark up to $4200. You don't think that's a little high for 4.5TH/s delivered in mid September? And I'm not trying to argue, being serious. I guess prices and money is all ones perspective since everyone has their own value of money. I work hard long days for my money, so I value every dollar. I'm not cheap or frugal, but I do try to get the best price on something I can, if I can.

Here in NJ electricians are VERY expensive. I have a 100amp panel which is almost full and wanted to add a sub panel and a couple 240V circuits. I actually got two quotes. One was for $1200 and the other was $950. Installing new circuits you sometimes need to break down the sheet rock and do a lot of other things that just add to the cost. Once the electrician leaves then you need to do some sheet rock work, spackling, painting, etc. It adds up.

You guys should throw up your own forum. It is very easy to install since you already have your domain/website setup and really doesn't take anytime to mange or run it. Then you can really have a dedicated area for support relevant to your products instead of this one huge long thread that takes forever to find info and catch up on daily. Some of the most popular forum software is free. You guys could at least give that a try to get away from all the BS and trolls. And if you do get a forum up and running, one suggestion, don't turn into a moderator police officer. Some companies forums are horrible since they delete every post they disagree with and don't like. As long as the content is of a serious nature and respectful the post should stay. Good luck.

 

In the same boat, unfortunately SP-Tech wants to keep their sales model as pre-order only. Manufactures have the ability to change that and sell out of stock but choose not to because of the less risk to them. All the risk then shifts to the buyer and we see what happens. Please, don't get me wrong, and from previous posts, I think SP-Tech is probably one of the best makers of mining hardware around and I do look forward and eager to see what is on the horizon and future. I think they did the best they could with what they had and believe me, they didn't like the results and specs of their SP30 just as much as the customer's didn't.

Yea, I'm confused about the pricing as well. I think they must pay a premium in raw materials or pay a shitload of money to get them built or something to have a premium price like that. They need to start ordering cheap ass China materials and build with that, lowering the overall price making the end product more appealing to potential customers. Yea, their rigs are rock solid and made like tanks but in my opinion maybe their purchasing decisions could be a little better.

$3895 plus shipping will be well over $4000 for 4.5TH/s in September, mid/late September since it is batch #2 is a pretty high price no?

Spondoolie-Tech didn't "have" to make the SP30 a pre-order. They could have made the product, like what other companies do, get an inventory, have solid specs and a working product, then sell it normally. It is the manufactures decision to use your pre-order money for R&D and making the product, but you'll never really know what you will end up with since it hasn't been made yet. ALL bitcoin manufacturers have the miners, "by the balls" in this industry now. Buying an expensive bitcoin mining rig(s) are worse then buying a car. At least you can sell the car at a later time for something.

This is the nature of the pre-order. Can't blame anyone but themselves if the shit hits the fan.

I can understand where's he coming from. Some people are just tired of pre-orders and biting their nails hoping they actually make their money back. The bitcoin market is so big now manufacturers don't have to worry about not selling out their pre-order gear. There will always be the new kid on the block that will dump out however much money regardless if they break even or not. People that have been in the "hobby" more and are more aware of what's going on are able to make better decisions. Instead of giving SPTECH my $10k I gave it to another company that actually had the hardware in stock and didn't have to worry about "IF" I would make all my money back or not since it only took 6 days to get to me and been hashing for quite some time now. In the future if SPTECH does change their business model to a conventional one (where you pay for something that is available) then I'll give them my money. It is all about making good decisions based on the information you have. Good luck!

I thought SP-TECH would have been the first to get 28NM out the door. Shocking to see those Antminers are already shipping. Efficiency I don't think is as good, but if you ordered a whole bunch of them you'd have them in just a few days. Let us just pass the SP50 and go right to the SP100 and skip home mining completely.

When I had my SP10 sent to me it was held up at shipping. They wanted me to send them an FCC paper stating what the device was and something along with homeland security. Held up my delivery and extra day.
One form was called - department of homeland security. IMPORTER ID INPUT RECORD

and the other form was STATEMENT REGARDING THE IMPORTATION OF RADIO FREQUENCY DEVICES CAPABLE OF CAUSING HARMFUL INTERFERENCE.

Both these forms were sent to me by the shipping company via email. Had to fill them out and then email them back.

Terms and information posted. Then just leave it at that. If a user wants to keep a large amount of bitcoin in an online wallet that's their decision and will have to deal with the consequences of doing that. 100 bitcoin in a pool wallet, they deserve to lose it. Sorry.

This "group buy" seems weird to me. Been a month and no final price or anything? My decision on not buying hardware and just buy coin I think is the better option. I don't want to wait over a year to maybe break even anyway.

Yea, well, read this first.

http://www.ihavebitcoins.com/featured/sustainability-small-scale-bitcoin-mining/


As of July 8th, 2014, not one bitcoin mining company can ship a machine that profitably mines bitcoin (even with free electricity). Overtime you could possibly make your money back; however, it is contingent upon the price of bitcoin going up.

Consequently, today’s rational decision from a financial standpoint is to buy bitcoin instead of mine.

KncMiner currently ships the most powerful ASIC miner on the market. Their $5,999 bitcoin miner claims to hash at a guaranteed 3 TH/s, consuming an average of 1,710 watts.

The graph above uses the bitcoin network mining reward formula. It incorporates the amount of hash power, current difficulty, and BTC rewarded per block. It will be recalculated in 2016 when the block reward amount changes.

The graph is approximate, not exact (+/- 1 BTC). However, I feel an average difficulty increase of 16% every 12 days is realistic; considering the most recent increase was 24.9%.

If you were to purchase a KncMiner, it would cost you a retail price of 9.675 BTC (at current prices). This means in order for mining to be profitable, you must mine at least 9.675 BTC. At the 16% average difficulty increase, 6.92 BTC is mined. Not enough…

After just three months, daily mining revenues are cut in half. At the end of 12 months, the miner won’t even produce enough bitcoin to cover your electric bill.

On the contrary, say you invest $5,999 in bitcoins. Today you will have 9.675 BTC, and after 12 months you will still have 9.675 BTC. If the price stayed the same after a year, you would still have $5,999 worth of bitcoin. If you bought the miner and the price was the same, you would end up with around $4,300 ($620*6.9 BTC).

Hmm…So why would anyone ever mine bitcoin as opposed to buying it?

As of today, anyone who understands the bitcoin network should realize mining at a small scale will never be profitable.

It seems as if the bitcoin network is moving faster than our latest ASIC technology. Three months ago, the majority of bitcoin miners on the market would generate attractive returns. Today, since the network continues to experience exponential growth, the required amount of hash power to cost-efficiently mine has reached a new plateau.

Innovation will drive a future company to supply the market with new “state-of-the-art” miners that hash at a whopping 10+ Th/s. Bitcoin enthusiasts will jump on this opportunity. However, the bitcoin ecosystem is designed to adapt to this type of innovation.

The first to get their hands on the miners will be making tons of bitcoin. Then, all of a sudden, Deja Vu…

History will repeat itself and we will be in the same position as we are today.

For individuals wanting to mine on a small scale, the bitcoin price must be contingent upon the cost of mining.

Never pay for a miner with more bitcoin than you predict it will generate. If it costs 9 BTC to buy a miner, and it will only mine around 6 BTC, don’t buy it!

The goal is to buy a miner with a small amount of bitcoin and turn it into a large amount. When this is achieved, you have essentially hedged you position in the bitcoin ecosystem.