Bitfury: "16nm... sales to public start shortly"

[suchmoon]

Been interesting watching Bitfury devolve from one of the most respected miner manufacturers,  to basically just a level or two below pond scum.

They have always mined for themselves and been at least 5 steps ahead of the public.  Bitmain is only 2 steps ahead of the public.

July 9, 2016:

Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware.

He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily."

As evidenced by this thread words from Bitfury mean nothing, except perhaps that they're somewhat good at PR.

Bitfury had 15%-ish of the network in 2015, currently less than 10%. Doesn't sound like "prepared" or "ahead" for any reasonable definition of "prepared" or "ahead".

[dogie]

As evidenced by this thread words from Bitfury mean nothing, except perhaps that they're somewhat good at PR.

Yeah and unfortunately its a big one. They've certainly never scammed anyone but we just can't trust anything they say any more. We fell for it more than once and the rugs been pulled out from under us again and again. It also boggles the mind that after completing my 50th - and probably my last - hardware review, that there has not been one IRL picture or miner seen by a third party since their generation one boards. Bitfury, the leading hardware manufacturer of ghost hardware.

[toptek]

As evidenced by this thread words from Bitfury mean nothing, except perhaps that they're somewhat good at PR.

Yeah and unfortunately its a big one. They've certainly never scammed anyone but we just can't trust anything they say any more. We fell for it more than once and the rugs been pulled out from under us again and again. It also boggles the mind that after completing my 50th - and probably my last - hardware review, that there has not been one IRL picture or miner seen by a third party since their generation one boards. Bitfury, the leading hardware manufacturer of ghost hardware.

last why bitmain going private ?. !!! or your done dealing with it ? and finally see others point of view of how much the big guys really Don't care any more .

and

when i read that blog one time from some one from bitfury back in the 70 'S about his family, I knew then it was BS they were feeding us because if they really cared wed have those chips it was  one big troll or PR to get the big bucks involved with the best advertisement around and it's free, us and these forums . .

[dogie]

As evidenced by this thread words from Bitfury mean nothing, except perhaps that they're somewhat good at PR.

Yeah and unfortunately its a big one. They've certainly never scammed anyone but we just can't trust anything they say any more. We fell for it more than once and the rugs been pulled out from under us again and again. It also boggles the mind that after completing my 50th - and probably my last - hardware review, that there has not been one IRL picture or miner seen by a third party since their generation one boards. Bitfury, the leading hardware manufacturer of ghost hardware.

last why bitmain going private ?. !!! or your done dealing with it ? and finally see others point of view of how much the big guys really Don't care any more .

What do you mean by that? I don't understand the first part.

[toptek]

As evidenced by this thread words from Bitfury mean nothing, except perhaps that they're somewhat good at PR.

Yeah and unfortunately its a big one. They've certainly never scammed anyone but we just can't trust anything they say any more. We fell for it more than once and the rugs been pulled out from under us again and again. It also boggles the mind that after completing my 50th - and probably my last - hardware review, that there has not been one IRL picture or miner seen by a third party since their generation one boards. Bitfury, the leading hardware manufacturer of ghost hardware.

last why bitmain going private ?. !!! or your done dealing with it ? and finally see others point of view of how much the big guys really Don't care any more .

What do you mean by that? I don't understand the first part.

boggles the mind that after completing my 50th - and probably my last - hardware review

[samsonn25]

Been interesting watching Bitfury devolve from one of the most respected miner manufacturers,  to basically just a level or two below pond scum.

They have always mined for themselves and been at least 5 steps ahead of the public.  Bitmain is only 2 steps ahead of the public.

July 9, 2016:

Bitfury CEO Valery Vavilov, who estimates electricity makes up between 90 and 95 percent of bitcoin mining costs, says one way his firm stays competitive is by making its own hardware.

He also says the company, founded in 2011, is prepared for the mining reward cut. "We're prepared - we already went through one halving event in 2012," he said. "You can forecast this...so you have time to prepare, and if you're prepared you can live quite easily."

As evidenced by this thread words from Bitfury mean nothing, except perhaps that they're somewhat good at PR.

Bitfury had 15%-ish of the network in 2015, currently less than 10%. Doesn't sound like "prepared" or "ahead" for any reasonable definition of "prepared" or "ahead".

Prepared in a way that they have relatively cheap electricity and thy make their own chips, like the Chinese who control 70% of the market.

The low man on the totom pole is the consumer who gets has been, old technology, and used equipment .   Even KNC couldnt make it after they scammed tens of millions of investor money.  Because they cant design and manufacture fast enough.

[Biodom]

apparently, Bitfury pool is ramping up.
compare 12.4% in 4 days vs 18.4% in 24 hr
https://blockchain.info/pools?timespan=4days
https://blockchain.info/pools?timespan=24hours

maybe they will soon be at saturation and will release chips, finally?

[suchmoon]

apparently, Bitfury pool is ramping up.
compare 12.4% in 4 days vs 18.4% in 24 hr
https://blockchain.info/pools?timespan=4days
https://blockchain.info/pools?timespan=24hours

maybe they will soon be at saturation and will release chips, finally?

It's not unheard of for a pool to have a run of good luck like that. A period of a couple of weeks would be a better indicator.

[alh]

apparently, Bitfury pool is ramping up.
compare 12.4% in 4 days vs 18.4% in 24 hr
https://blockchain.info/pools?timespan=4days
https://blockchain.info/pools?timespan=24hours

maybe they will soon be at saturation and will release chips, finally?

While this is an interesting thing to consider, it seems to be pretty speculative to conclude that they will actually do anything regarding chip sales. When/If/How they sell chips and miners get built seems way longer term and unrelated to how much the network hash rate they seem to have over a 24 hour period.

As suchmoon said, many days would be more accurate, though still speculative in terms of chip sales.

[Biodom]

apparently, Bitfury pool is ramping up.
compare 12.4% in 4 days vs 18.4% in 24 hr
https://blockchain.info/pools?timespan=4days
https://blockchain.info/pools?timespan=24hours

maybe they will soon be at saturation and will release chips, finally?

It's not unheard of for a pool to have a run of good luck like that. A period of a couple of weeks would be a better indicator.

they were at less than 10% on July 10, so it is already a putative "ramp" of at least 11 days.

[Gyrsur]

got my chips, folks!!

[dogie]

As evidenced by this thread words from Bitfury mean nothing, except perhaps that they're somewhat good at PR.

Yeah and unfortunately its a big one. They've certainly never scammed anyone but we just can't trust anything they say any more. We fell for it more than once and the rugs been pulled out from under us again and again. It also boggles the mind that after completing my 50th - and probably my last - hardware review, that there has not been one IRL picture or miner seen by a third party since their generation one boards. Bitfury, the leading hardware manufacturer of ghost hardware.

last why bitmain going private ?. !!! or your done dealing with it ? and finally see others point of view of how much the big guys really Don't care any more .

What do you mean by that? I don't understand the first part.

boggles the mind that after completing my 50th - and probably my last - hardware review

No I've just finished with the industry I guess. The companies are too large to need someone like me and because I didn't sell out (and Spondoolies...) I need the money from a normal job.

[lightfoot]

got my chips, folks!!

Fish and Chips?

[Unacceptable]

got my chips, folks!!

Soooo....sales to public start shortly™.....again  

[alh]

got my chips, folks!!

Wait.....Wait....Wait....Those chips are more like 16mm rather than 16nm. You can't fool me!   

[irritant]

can we have some chips before the next halving?

[Unacceptable]

can we have some chips before the next halving?

[tmfp]

Way back in March, when Bitfury's word had some credibility, I posted this series of quotes from BitClub Network, a sleazy MLM funded mining operation who were boasting about preferred access to Bitfury 16nm gear.

"I've got the new (Bitfury) 16nm tech chips"

"BCN are the only people in the world with Bitfury chips, buying all they can produce."

We've got 12 PH/s Bitfury containers

buying $17million of Bitfury containers at $3m a piece

Punin confirmed that Bitfury prefer dealing with this BCN sleaze rather than the mining community.
Reasons for that could be many, including Bitfury staff taking advantage of that great Bitcoin attribute, the ability to receive anonymous payments...

We are indeed working with Joby, but will not disclose any commercial details.

His statements are not 100% correct factually as we have not delivered production chips or containers to clients yet and we are working with several clients and integrators.

Punin and Weeks on first name terms, aaaaah. Not 100% factually correct= total lies for the consumption of BitClub Network suckers.


Anyway, fast forward five moths and BCN are still limping along with their "investors" moaning like f*ck about their wonderful promised ROI's reducing over the months to dust and demanding Something Should Be Done. (The recent $200 "correction" in the BTC price is unlikely to improve their humor, but what can they do, they're locked in?)
So, what is being done?

We have 10 PH coming online from Bitmain, they just came out with their new 16nm chips in their newest S9 Antiminer rigs. These machines are now the most efficient on the planet and we have secured a large chunk of the first batch!

With the halving coming up it was very important that we got rid of some of our older models. This included all remaining S5 Antminers and even a portion of our S7 Antminers are being turned over so that we can focus on the S9 expansion.

We believe the S9 is at the peak of the market. The efficiency will not get much better from here and these machines are built to mine for life, so you will see many updates as we expand aggressively with this model and plan to hash with them forever.

Also, we have another 14 PH coming online from BitFury that will begin starting next week July 13th and will come in batches from there until Aug 24th.

This is 24 PH in addition to the 48 PH we currently have in our pool. We already have scheduled purchases during the next few months that will come online near the end of Aug or early September. Our goal is to be at 80 PH by September and fully running on 16nm technology exclusively!

Sure.

Currently, Bitfury and BCN are jointly totalling just single % figures of total mining capacity.



Add to this an interesting comment from Eric@Hao

But mining is not our strategic direction - I talked with someone from BitFury, and they felt the same way, which is that while there is money to be made in mining, it should not be our focus in the long run.

[mavericklm]

it never is in the long run!
It's just about implementation, stability, etc

[Unacceptable]

So is BitFury dead or what ?

It is unless you got