BW.com B12 Hash Investment

[RichBC]

Hey Rich,

B11, B12 and B16 are all currently running on the BW-LK1401 Chip. We are currently preparing the BW-LK1402 chip for the public release. I am not sure what "Buck converter and string design" mean if you give me more details Ill ask tomorrow.

Our expected specs for the next version of miners are:

0.149GH at 195W, the current miners are technically running better than S7's at around 220-230W. We want to get the public release miners at optimal design and performance before releasing them.

Here some pics:

http://imgur.com/a/KGzde

As for the public release, the miners will be available on our website in June 2016 to everyone in the world with a 100 day guarantee of performance.

Thanks for the additional information and pictures. So all of the current Miners are 0.149GH & 195W and based on the BW-LK1401. I had based my assumptions on the previously published spec for BI1 currently on the Website  as being 260W/TH which is wrong. This is good news as we can now expect a further improvement in efficiency for a BW-LK1402 based Miner. Do you have an efficiency figure for a Miner based on the BW-LK1402 Chip yet?

There have been some pictures of Hash boards in B11 on the Web that show a Buck Converter based design where the 12V is reduced to the voltage needed by the chip by the Buck Converter chip.

A number of your competitors, Bitmain Avalon and Bitfury use a string design which does away with the Buck converter and put the ASIC's in a string and reduce the voltage in that way. It is more efficient and I wondered which approach you have taken?

Rich

[Bitbankroller]

Hey,

Sorry, I didnt write that clearly.

The second version is expeted to be 0.149GH at 195W.

The current miners are technically running better than S7's at around 220-230W.

In order for me to get the answer to the Buck Converter question, I'd have to figure out how to translate it into Chinese, Ill see what I can do.

Yes, we will get that info updated on the website asap.

[RichBC]

Hey,

Sorry, I didnt write that clearly.

The second version is expeted to be 0.149GH at 195W.

The current miners are technically running better than S7's at around 220-230W.

In order for me to get the answer to the Buck Converter question, I'd have to figure out how to translate it into Chinese, Ill see what I can do.

Yes, we will get that info updated on the website asap.

OK understood. Pictures inside the Miner of the Hash Boards would be nice if you have them? 

Rich

[Bitbankroller]

Hey Rich,

I am having trouble translating this question. Here are some pics, see if they help.

http://imgur.com/a/T6tPS

[mxnsch]

Hey Rich,

I am having trouble translating this question. Here are some pics, see if they help.

http://imgur.com/a/T6tPS

I think you got it right, thanks for the pics!

[Bitbankroller]

No problem. Can you explain what you guys were looking for?

[mxnsch]

No problem. Can you explain what you guys were looking for?

For me it's technical interest and helps to plan my next investments as miner. Afaik RichBC is also owner of a couple of your devices. Of course a populated board would have helped more ;-)

EDIT: Just discovered the second picture with the populated board. A little blurry but thanks a lot!

[RichBC]

Hey Rich,

I am having trouble translating this question. Here are some pics, see if they help.

http://imgur.com/a/T6tPS

Hi

Thanks for the picture, yes it confirms that the B11 uses Buck Converters to reduce the 12V to the lower ASIC voltage. You can see that there is One Buck Converter for each group of four ASIC's.

A supplementary question would be. As you are using Buck Converters are they operating at a fixed voltage or is the Voltage adjustable to enable the operating point of the ASIC's to be optimised between Maximum Hash Rate or Best Efficiency?


Rich

[Bitbankroller]

Ah, ok got it! I will work on that next question for you, but everyones gone home Ill get on it Monday.

[RichBC]

Ah, ok got it! I will work on that next question for you, but everyones gone home Ill get on it Monday.

My comment is based on the second picture which clearly shows the Buck Converters with the Big Inductors. However the first picture with the unpopulated Board appears to be for a different Miner as the ASIC's are in groups of 3 rather than 4?


Thanks for your inputs, always interesting and instructive to have more details on the Circuitry.

Have a good Weekend.

Rich

[RichBC]

On further examination whereas the second picture (Blurry populated board) is a Buck Converter based design with 4 chips / Buck, the first picture (Clearer and unpopulated) looks to be a string design with 3 chips per node.

So am no closer to an answer on the B11 design except a pure guess that B11 / B12 / B16 / BW-LK1401 are shown in the second picture and use a Conventional Buck Converter and that the forthcoming, more efficient, BW-LK1402 Miner is a string design

Rich

[fireant]

Hey anyone know how to access the secondary market ?

I put my b12 hash up for sale now I can't see the market anymore ?
Only sold a bit of it so need to change the price.

Can't see the market anymore ?

Confusing site,

Probably under some tab I can't remember how to get to.

[Bitbankroller]

Hey Rich,

Your assumption is correct, the newer 1402 versions do use string designs. And the 1401 version uses buck converters.

Hello Fireant,

Could you provide a screen shot of your problem to better assist you?

[fireant]

Never mind.
Support pointed me to the trading site.
They don't make it easy.

https://www.bw.com/trade

[RichBC]

Hey Rich,

Your assumption is correct, the newer 1402 versions do use string designs. And the 1401 version uses buck converters.

Thanks for the confirmation, please keep us updated on progress on the new Miner, hash rate and efficiency numbers are very useful and pictures are always good to see.  Please also keep us updated on plans and prices for sales of Miners to individuals which would be well received in the community.

Do you have any plans to sell chips to third party integrators or individuals?

Many Thanks


Rich

[Bitbankroller]

Hello Rich,

Will do. Yes are currently selling chips to individuals and third party integrators with a minimum order of 1 petahash. If anyone is interested in details please email me at virgilio@bitbank.com.

Regards,

Virgilio

[Bitbankroller]

Hey Everyone,

BW is very interested to know the opinions and suggestions of our valued customers. We have created a simple survey for you to complete about the user experience of the site, and if you complete this survey completely and with relevant information BW will compensate you for your insight with between 0.01 to 0.05 BTC depending on the quality of the content. We hope to hear from our long time users and new users as well. BW is committed to providing the mining community and new comers the best experience when it comes to this fascinating and vital part of the Bitcoin ecosystem. Please PM to receive the survey and details. We look forward to hearing from everyone.BTC

[wlefever]

So it looks like everything other than B16 is untradeable.  Was there ever an announcement? I still see the daily mining revenue accruing but is this their plan to pay back remaining principal then split income 50/50 as stated in the FAQs?

[RichBC]

Just received this from BW

First we would like to show our sincere thanks to your trusting  and supporting BW.

We launched B11,B12 cloud hash investment projects in 2015. Because of the underestimation of the mining difficulty growth:the mining difficulty has increased four times, and the Bitcoin pirce growth:the Bitcoin price has increased three times, the mining income has plummet to 1/12, which leads to the low-profit era of mining.

The uncontrolled jump of the difficulty and price has caused great influence on our  clause to enure the principal return. Under current condition, we try our best to get all our customers’ principal  invested  in B11 and B12 project returned.

1.    We ensure that we will get all investors’ principal returned

2.    The un-returned principal will be converted into  financial management project  with annualized 10% rate and divided in 6 parts to pay off.

3.    Customers’  mining income will increase by 10%, thus the customer enjoys 60% of the income

We are very sorry that we must divid your principal into 6 parts to pay off, hoping  you make allowance for our situation. If our subsequent runing situation become better,we will pay your principal off in advance.

Now I have not checked the 4 x on Difficulty, but understand it's impact. What I do not understand is why 3 x on price growth is viewed as negative and has resulted in mining income being reduced to 4 x 3 = 1/12?

Surely the 3 x on Price should offset some of the 4 x on Difficulty? What am I missing here?


Rich

[wlefever]

Just received the email as well. So yes the Bitcoin price has risen quite a lot lately which helps the longevity somewhat but the impact on mining income from the big jumps in mining difficulty extended the payback time far more then I think BW anticipated. Now the halving is in just over a week and that mining income is cut in half again.

Edit:  Not sure I understand

2.    The un-returned principal will be converted into  financial management project  with annualized 10% rate and divided in 6 parts to pay off.

Looks like we have to accept the terms since there is no way to sell the hash on the market anyway now.