B-Eleven sha-256 ASIC miner

[notlist3d]

It does resemble the S7 quite a bit.  "If they Rend-it don't Spend-it!"

Renderings do not get me excited at this point.  At one point I thought it was a big deal, but so many scam miners have done renderings it lost it's power over me.

I want to see a working prototype or something more concrete before  I trust someone on a miner.  I think they don't have a prototype yet or they would have released a video or something.  Instead we got a rendering.

i do not read chinese and i simply dont get the ideea of this business model. they are asking loans for a few months or what? or a very non-atractive cloud mining. if you guys understant better the bw deal please share 

BW is huge so it's not surprising they want to have a cloud mining setup.   If they are asking for pre-payments that would be pretty crazy.  Sadly I cannot read Chinese either (Someone needs to discover how to translate words in pictures I would love google translate if they did that).

BW is one of the biggest out there so if they are just buying a lot to get new miners, or doing cloud they chances will get a profit.

[RichBC]

It's a pre-order for Cloud Mining on the B-Eleven, priced at 0.76BTC/T, now 0.78BTC/T. During Phase 1 before the miner is available you get .000312BTC/THS daily interest, equates to about 14% / year.

Phase 2 is theoretically Jan 1st however I suspect it will be later, it then reverts to a typical Cloud Mining contract. Have not looked into if it is good or bad as these things go? You can however trade your Hash on their Market.

Here is the full description.

Beleven cloud hash project contract

Before investing in Beleven, please read the terms below carefully.
Beleven cloud hash project description

Beleven is the latest cloud hash project of BW.com, the daily interest is 0.000312BTC/THS/DAY on stage 1. The mode to earn interest will be changed into mining income on stage 2.

How to invest?

Investors can take part in Beleven by investing in the hash, the minimum is 0.01TH/s, 0.76BTC/T.

Power Consumption：260W/THS

Electricity fee：0.5 CNY

Including the maintenance fee:260W*24h*0.5CNY/KWh/1000=3.12CNY/Day

The contract will be officially valid once investing has successfully started.

Exclusive income

Stage 1 income:From the day you invest till stage 2, you will get 0.000312BTC/T/Day.

Stage 2 income:there is no any extra fee for the investors and customers get all the income from the PPS mode.

Stage 3 income:Investors who start to be profitable will switch to co-share income stage in advance, for those who didn’t start to get how much they invest before July 1st, 2016, we will repay the rest and switch to co-share income stage.

From stage 2 to July 1st, 2016, we guarantee no extra fees including electricity fee before your investment becomes profitable, customers own all income of the investment. Investors who start to be profitable will switch to co-share income stage in advance, for those who didn’t start to get how much they invest before July 1st, 2016, we will repay the rest and switch to co-share income stage.

Co-share income

During co-share income stage, investors receive 50% of income after paying maintenance fee 3.12CNY/THS/DAY, the rest of the income will be used to(including but not only) paying for fees from stage 1, machine maintenance, miners, mining farm maintenance, unexpected accidents and venture insurance. The agreement will be temporarily terminated if the fees exceed the average income for 10 days and it will be officially terminated if the fees exceed the average income for 30 days.

Cloud hash mining machine

The cloud hash mining machine is based on the 14nm chips technology, the power consumption, weight and bulk can be modified due to the actual circumstance, and it is unnecessary to inform the investors.

Risk warning

The changes of Bitcoin price and the mining difficulty is a risk for the project.

The risk from political changes

BW will strictly respect the laws and industrial rules while designing every product.

Risk for the delay of stage 2 and fail to be repaid 100% of the principal.

According to the original plan, the stage 2 is supposed to be on Jan 1st, however, there is uncertain factors that might cause a delay of the plan, BW will withdraw the investors the principal money or paid the same daily interest of stage 1 until stage 2 comes.

Fail to be repaid 100% of the principal

BW guarantee users to get a 100% principal money back before July 1st, 2016, but there might be a chance that investors will lose their money due to the uncertainty of difficulty, price, policy and other circumstances.

Rich

[notlist3d]

Electricity fee：0.5 CNY

Is this USD or CNY?  At usd that is lowest going still on a project like this.  That peaks my interest a little bit.

If it truly is CNY that is like .01 USD... which would be amazing but sounds to good to be true.  Please correct me if my math is off.

[majestymage]

It's a pre-order for Cloud Mining on the B-Eleven, priced at 0.76BTC/T, now 0.78BTC/T. During Phase 1 before the miner is available you get .000312BTC/THS daily interest, equates to about 14% / year.

Phase 2 is theoretically Jan 1st however I suspect it will be later, it then reverts to a typical Cloud Mining contract. Have not looked into if it is good or bad as these things go? You can however trade your Hash on their Market.

Here is the full description.

Beleven cloud hash project contract

Before investing in Beleven, please read the terms below carefully.
Beleven cloud hash project description

Beleven is the latest cloud hash project of BW.com, the daily interest is 0.000312BTC/THS/DAY on stage 1. The mode to earn interest will be changed into mining income on stage 2.

How to invest?

Investors can take part in Beleven by investing in the hash, the minimum is 0.01TH/s, 0.76BTC/T.

Power Consumption：260W/THS

Electricity fee：0.5 CNY

Including the maintenance fee:260W*24h*0.5CNY/KWh/1000=3.12CNY/Day

The contract will be officially valid once investing has successfully started.

Exclusive income

Stage 1 income:From the day you invest till stage 2, you will get 0.000312BTC/T/Day.

Stage 2 income:there is no any extra fee for the investors and customers get all the income from the PPS mode.

Stage 3 income:Investors who start to be profitable will switch to co-share income stage in advance, for those who didn’t start to get how much they invest before July 1st, 2016, we will repay the rest and switch to co-share income stage.

From stage 2 to July 1st, 2016, we guarantee no extra fees including electricity fee before your investment becomes profitable, customers own all income of the investment. Investors who start to be profitable will switch to co-share income stage in advance, for those who didn’t start to get how much they invest before July 1st, 2016, we will repay the rest and switch to co-share income stage.

Co-share income

During co-share income stage, investors receive 50% of income after paying maintenance fee 3.12CNY/THS/DAY, the rest of the income will be used to(including but not only) paying for fees from stage 1, machine maintenance, miners, mining farm maintenance, unexpected accidents and venture insurance. The agreement will be temporarily terminated if the fees exceed the average income for 10 days and it will be officially terminated if the fees exceed the average income for 30 days.

Cloud hash mining machine

The cloud hash mining machine is based on the 14nm chips technology, the power consumption, weight and bulk can be modified due to the actual circumstance, and it is unnecessary to inform the investors.

Risk warning

The changes of Bitcoin price and the mining difficulty is a risk for the project.

The risk from political changes

BW will strictly respect the laws and industrial rules while designing every product.

Risk for the delay of stage 2 and fail to be repaid 100% of the principal.

According to the original plan, the stage 2 is supposed to be on Jan 1st, however, there is uncertain factors that might cause a delay of the plan, BW will withdraw the investors the principal money or paid the same daily interest of stage 1 until stage 2 comes.

Fail to be repaid 100% of the principal

BW guarantee users to get a 100% principal money back before July 1st, 2016, but there might be a chance that investors will lose their money due to the uncertainty of difficulty, price, policy and other circumstances.

Rich

yup i saw that...now correct me if i am wrong....but why would you even consider to chase the stage 3? that is someting that has no sense...moving to stage 3 it would trigger less profit so the sell option is the logic one...whats the big ideea? 

[majestymage]

all in all this sounds to me like a loan and maybe stage 2 as a pretty good cloud mining contract...i must be missing something or this is a very shitty deal 

[RichBC]

Electricity fee：0.5 CNY

Is this USD or CNY?  At usd that is lowest going still on a project like this.  That peaks my interest a little bit.

If it truly is CNY that is like .01 USD... which would be amazing but sounds to good to be true.  Please correct me if my math is off.

I read it as CNY which would equate to 8 Cents which is ok but not amazing?

I guess the idea of stage 3 is that you have got you investment back and that is when you make some money, but if the price was right to sell then that would be an option. I assume the Market will remain open throughout, you will of course be competing with other sellers so the price might be quite low?

I feel you are quite well protected and earning a good income during stage 1, stage 2 seems to have a money back guarantee, stage 3 is where you might make some money?
BW.com are probably ok, soI think as ever the big risk is what happens to BTC price during the contract?

I have made a small Investment to see what happens, they are paying the daily interest, you can also get interest on a BTC Deposit account there at 0.02% paid Daily which is nice. 

If you decide to open an account please use this recommender’s link 

https://23021.bw.com/



Rich

[majestymage]

Electricity fee：0.5 CNY

Is this USD or CNY?  At usd that is lowest going still on a project like this.  That peaks my interest a little bit.

If it truly is CNY that is like .01 USD... which would be amazing but sounds to good to be true.  Please correct me if my math is off.

I read it as CNY which would equate to 8 Cents which is ok but not amazing?

I guess the idea of stage 3 is that you have got you investment back and that is when you make some money, but if the price was right to sell then that would be an option. I assume the Market will remain open throughout, you will of course be competing with other sellers so the price might be quite low?

I feel you are quite well protected and earning a good income during stage 1, stage 2 seems to have a money back guarantee, stage 3 is where you might make some money?
BW.com are probably ok, soI think as ever the big risk is what happens to BTC price during the contract?

I have made a small Investment to see what happens, they are paying the daily interest, you can also get interest on a BTC Deposit account there at 0.02% paid Daily which is nice. 

If you decide to open an account please use this recommender’s link 

https://23021.bw.com/



Rich

at the exact point when you should start to earn some money they cut 50% of it...=> bad deal imho

[BLOCK_C]

On their website doesn't the price work out to about 18 cents per G not 50 cents per G?

[Xircom]

Strange, the CEO has just announced this miner as a miner for the public in an interview to bitcoin magazine. Its not there own miner thats for sure. He says that minimum order  is 333 miners equal to 1PH.... for the public...
https://bitcoinmagazine.com/articles/bw-to-launch-nm-chip-and-miner-for-general-population-1445278227

[HerbPean]

They want to add 48 Peta per month .... (in their private farm)

[Xircom]

If they release 48PH a month btc price has to go up. Since the halving wil take its share. So somehow they predict the price will rise to almost 600$ if I do the calculation right..

[alh]

Strange, the CEO has just announced this miner as a miner for the public in an interview to bitcoin magazine. Its not there own miner thats for sure. He says that minimum order  is 333 miners equal to 1PH.... for the public...
https://bitcoinmagazine.com/articles/bw-to-launch-nm-chip-and-miner-for-general-population-1445278227

As I read the announcement, it was .87 BTC per miner. This is for a re-order, so take that for what it's worth. If they actually were to deliver 3TH for .87 BTC, that would be massive "shot across the bow" at Bitmain. The S7 is priced at well over 3x that. I didn't see any other details, but it would really upend S7 sales if true, and on time.

[RichBC]

Strange, the CEO has just announced this miner as a miner for the public in an interview to bitcoin magazine. Its not there own miner thats for sure. He says that minimum order  is 333 miners equal to 1PH.... for the public...
https://bitcoinmagazine.com/articles/bw-to-launch-nm-chip-and-miner-for-general-population-1445278227

As I read the announcement, it was .87 BTC per miner. This is for a re-order, so take that for what it's worth. If they actually were to deliver 3TH for .87 BTC, that would be massive "shot across the bow" at Bitmain. The S7 is priced at well over 3x that. I didn't see any other details, but it would really upend S7 sales if true, and on time.

I think that will be 0.87 BTC/TH so for the 3TH Miner that is 2.61 BTC. That is also the Bulk price, individual prices will obviously be higher. However great that there might be another supplier to the Public.

Hope you are right, but it just sounds too good to be true......

Rich

[BitcoinNewsMagazine]

Thanks for this. Interesting crowd sale for the B-Eleven, I may throw a few bitcoin in, already have an account at BW. Looks like there is a decent chance the hash could be sold at a profit once public trading begins January.

[notlist3d]

Strange, the CEO has just announced this miner as a miner for the public in an interview to bitcoin magazine. Its not there own miner thats for sure. He says that minimum order  is 333 miners equal to 1PH.... for the public...
https://bitcoinmagazine.com/articles/bw-to-launch-nm-chip-and-miner-for-general-population-1445278227

Hmm, depending on the price I think 333 doesn't sound impossible for a group buy to handle especially if it is a bulk rate I can see these flourishing.

They do mention that is for pre-orders.   So they could hope to get big customers on pre-order.   Since 333 units is more of a data center order.

I'm hoping once it's truly out they lower the amount to order.  Guess we will wait and see.

[alh]

Group buys carry some risk. Pre-orders carry risk. Put the two together, and the probability of failure just goes too high for me. I been in a couple and the best outcome was a small profit, only because we were able to sell the hardware to somebody else at a profit.

[notlist3d]

Group buys carry some risk. Pre-orders carry risk. Put the two together, and the probability of failure just goes too high for me. I been in a couple and the best outcome was a small profit, only because we were able to sell the hardware to somebody else at a profit.

Some GB's do make a lot of sense like look at U3 or something.  Order of 20... group buy or re-seller is who are buying that.

I would not pre-order gear in this case (or almost any case).  I mean not even a working prototype shown just renderings.  To many stop at rendering stages with money.

I predict after release the number is dropped as they will have already gotten big buyers set up on gear from big pre-order numbers.  And it still could be a number that needs a group buy.  But I dont see the 333 number sticking forever.

[RichBC]

Group buys carry some risk. Pre-orders carry risk. Put the two together, and the probability of failure just goes too high for me. I been in a couple and the best outcome was a small profit, only because we were able to sell the hardware to somebody else at a profit.

Some GB's do make a lot of sense like look at U3 or something.  Order of 20... group buy or re-seller is who are buying that.

I would not pre-order gear in this case (or almost any case).  I mean not even a working prototype shown just renderings.  To many stop at rendering stages with money.

I predict after release the number is dropped as they will have already gotten big buyers set up on gear from big pre-order numbers.  And it still could be a number that needs a group buy.  But I dont see the 333 number sticking forever.

They have already stated that later in the Year they will open up individual sales.

This winter, the miners will be available with no minimum order required; the price at this time has not been decided yet.”

But there is no way these will be 0.87BTC ($235) for 3TH So I will stick with this being a /TH price. This is supported by the current B-Eleven Hash Investment being sold at 0.76BTC/TH

Rich

[QuintLeo]

.87 B per TH sounds more likely than .87 B per miner - but it would still be better pricing by quite a bit vs. the S7 and would be in the ballpark of having a prayer of RoI with cheap enough electric.

(does a quick visit to bitcoinwisdom)

 Hmmm, using my current "standard assumptions" this thing will barely achieve RoI (NOT including cost of PS or shipping) at my current 6.7 cent "incremental" electric rate, *IF* it goes on sale to the public at 0.87/TH soon enough to get delivered by 1 December 2015 and if the halfing does not happen before mid-July.

 TONS better than the S7 manages at it's current pricing, but still a bit marginal at best for most folks.

[RichBC]

I have just crunched some numbers from the available data on B-Eleven. Several assumptions made, so plenty of room for error.

Data from Bitcoin Magazine

ASIC 34.6 to 63GH/s
Core Voltage 0.59V to 0.76V
Power Consumption 18W


So if we assume that 18W is at 63GH/s (If 18W refers to a Lower GH then numbers are worse?

Then to get 3TH we need 48 Chips and consumption would be 18W x 48 = 864W = 0.28J/GH

If we add something for the Controller & Fan(s) thet might become 880W = 0.29J/GH

Now if we loose another 5% in the PSU that becomes 0.3J/GH

The other data we have accompanies the sketches, 260W/TH (We are not told if this is at the wall?)

Which would give 780W for 3TH which is 0.26J/GH

So take your pick, but these numbers are in the same league / slightly worse than an S7, would you not expect something better from a 14nm Chip?

However it's all about price & delivery date, we will see. 


Rich