Bitmine ROI in 56 days. Opinions?

[bomberb17]

According to http://mining.thegenesisblock.com/a/a9362443e3

Coincraft desk 200gh/s ROI in 56 days.  (starting mining on December).


What do you think?

[cedivad]

That you are better off buying BFL.

[bomberb17]

LOL?

P. S.  Bitcoin price is starting to drop a lot..

[cedivad]

LOL?

If you want to trow away your money, BFL at least has a better website buying experience.

P. S.  Bitcoin price is starting to drop a lot..

Let's hope the trend to continue.

[bomberb17]

I don't understand.  BFL  has so many negative comments. Didn't see any negative for Bitmine.

[zvs]

If you want to trow away your money, BFL at least has a better website buying experience.

agreed

[bomberb17]

Has anyone bought from Bitmine and had negative experience like BFL? 

[BtcBling]

Has anyone bought from Bitmine and had negative experience like BFL? 

I think Bitmine is professional company. They delivered some Avalon clones, also chancelled two later Avalon clone batches as Avalon never delivered chips they ordered and Bitmine offered good compensation plan. After that they produced small production run of based on Bitfury chips. So they have knowledge how to put everything together. Their own ASIC chip taped out already and they annouced yesterday that everything is on schedule. However prices looks a bit high.

[Zelek Uther]

I have a pre-order with Bitmine, I like their design: small chips that are easier to cool, three power modes including low power 0.35W/GH/s mode which increases the lifespan of the rigs (electricity running cost versus coins earned).

They plan to deliver last week of December, so we should plan on receiving the units in January (assuming no delays).

[davewr2013]

I like their design: small chips that are easier to cool,

Small chips are (much) harder to cool. At least that's the way it works in any designs I am familiar with...

If you have a high speed chip 28nm design that does a lot of calculation it becomes a serious design issue to cool it. Look at the pictures of KNC miners for example -- and the cooling towers inside. That's at the extreme....

The old PCs with the 8088 CPU needed no heat sinks -- low clock rate -- not much power... That's the other end of the spectrum

[costapete]

I ordered first batch bitmine.....

My experience with them has been less than enjoyable.

However I'm not going to spew trash about them.   They are slowly trying to make up for a giant mistake that has me dealing months trying to resolve.


Caution moving forward

[davewr2013]

According to http://mining.thegenesisblock.com/a/a9362443e3

Coincraft desk 200gh/s ROI in 56 days.  (starting mining on December).


What do you think?

Here is a different calculation --

http://btcinvest.net/en/bitcoin-mining-profit-calculator.php?diff=510929738.01615&dcosts=1499&diff_mincrease=30&blpbtc=25&dhsmhs=200000&diff_mincreasedecrease=0.1&btcusd=325&dpowcon=180&btcusd_mincrease=2&pcost=0.15&calcweeks=40&dleadtime=2&action=calc#

It's probably more accurate...

200GHash Machine
about 1 Month (2 Jumps) delivery)
Assuming bit coin still goes up -- on average

You make some bucks -- but not that much...

[bomberb17]

I have a pre-order with Bitmine, I like their design: small chips that are easier to cool, three power modes including low power 0.35W/GH/s mode which increases the lifespan of the rigs (electricity running cost versus coins earned).

They plan to deliver last week of December, so we should plan on receiving the units in January (assuming no delays).

Well if they are going to deliver on January (and not in December as they promise) that makes a huge difference (= no ROI)

[bomberb17]

Also I noticed they only accept bitcoin and Wire transfer, no Paypal. (= no refund)...

[Zelek Uther]

I like their design: small chips that are easier to cool,

Small chips are (much) harder to cool. At least that's the way it works in any designs I am familiar with...

If you have a high speed chip 28nm design that does a lot of calculation it becomes a serious design issue to cool it. Look at the pictures of KNC miners for example -- and the cooling towers inside. That's at the extreme....

The old PCs with the 8088 CPU needed no heat sinks -- low clock rate -- not much power... That's the other end of the spectrum

I know what you mean - and I agree - but I meant small die (package size), not lithography (sorry for the confusion).

BFL and KnCMiner have gone for a large die with lots of hashing cores.  Bitmine believe that a small die size is better (the way Avalon, ASICMINER and Bitfury have gone).

Quote from the Bitmine Coincraft A1 28nm ASIC webpage:

Bigger isn’t better.

Do you think that fitting the highest possible number of hashing units into a single, 500+ GH/s silicon die is the best solution? We don’t. Real life experience have shown that the highest performance, lowest total system cost and greatest scalability are achieved by large arrays of small and cool ASICs. That’s the reason why the A1 was designed so perfectly and was thought from the ground up to scale to very large private or public mining pools.

[Zelek Uther]

I have a pre-order with Bitmine, I like their design: small chips that are easier to cool, three power modes including low power 0.35W/GH/s mode which increases the lifespan of the rigs (electricity running cost versus coins earned).

They plan to deliver last week of December, so we should plan on receiving the units in January (assuming no delays).

Well if they are going to deliver on January (and not in December as they promise) that makes a huge difference (= no ROI)

They say they will deliver the last week of December (fingers crossed!).  It depends on what you mean by "deliver".  I take it to mean that the courier company will pick up the unit on the last week of December... that is, Bitmine have shipped the unit.  Shipping itself takes a variable amount of time, depending on the destination and customs delay.  Allow a week for shipping - which is why I expect to get my unit in early January.  When I said "assuming no delays" I meant delays in Bitmine's ability to produce the units... however I assume a week delay due to shipping and customs.

For example, KnCMiner shipped my Jupiter on the 16th of October - picked up in Sweden by DHL.  It arrived in New Zealand by 18th of October.  Customs delays meant that it wasn't delivered until 25th October!