Pinidea's X11 ASIC miner (500 MH) - to buy or not to...

[Rabinovitch]

So http://pinidea.io/ announced that they are accepting an orders for their 500 Mh/s DASH ASIC miner (it appears that it should rather be called "FPGA miner" IMHO...).

Original thread: https://dashtalk.org/threads/asic-x11-miner-hashrate-500mh-s-320w-weighs-4-5kg.8099/

What do you guys think about it?.. Should anyone risk with his or her 500 DASH (or comparable BTC-amount) to obtain such a miner?..

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[1715511171]

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[adaseb]

Wow another X11 miner.

Its funny how there are as many X11 Manufacteurs as there are SHA256 Manufacteurs.

[Rabinovitch]

Only 2 still. 

[atp1916]

Looks scammy as hell.  Their 5 second videos also look terrible.  Would not give a penny to them.

All of that aside, there's always been rumors of Xxx asics out there for a good long while now. Occasionally you'd see miners with astronomical hash numbers pop up on pools here and there.  I would not doubt at all that enterprising individuals (or companies) do possibly have Xxx capable asics, but for end users you need a company that can actually not just deliver their product but ultimately support it.  Fly-by-night operations typically can hardly do the first, but almost never the second.  

I would also consider the scenario where there's a tidal wave of Xxx ASIC devices about to hit the market and that these individuals know this and are selling off their personal stash of miners because they know full well right now is the best time to get max profit on their devices.   Xxx stuff is already marginal as it is, and the astronomical difficulty hikes that accompany ASIC invasions means that little window of ROI is effectively closed even before anyone does get their Xxx ASIC device.

[stan.distortion]

Another?? Oh well, guess that's a good sign :/ Just a word of caution, after the Satoshi round table meeting Dashes lead dev (Evan Duffield) announced they'll be putting a high priority on avoiding mining centralisation and changes are planned out and in development for that. No word on how it will be done yet but it doesn't involve any changes to X11, it's likely to be included in the next release which is due in about 3 months (v0.12.1).

EDIT: Mentioned here in the March budget proposal details:
https://dashtalk.org/threads/march-2016-budget-proposal.8198/

[Amph]

besides the scam it also expensive, 7 bitcoin for one unit, that can generate 0.12 a day only, roi is 2 months without diff increase, but we all know that this is not possible...

[Rabinovitch]

Looks very scammy, yep... But sounds so sweet... 2 monthes (oh, even if 3, 4...) for ROI even at that price...

But we are craving for more proofs!..

[atp1916]

That quick purported ROI is always the hook.  

Remember BFL, Alpha-T, GAW etc!

[Rabinovitch]

Several people have risked with their funds...

https://www.coinpayments.net/feedback-77ed1b95830412aabd584debe5be424f

And pinidea guys says now that test unit has been shipped to someone...

[adaseb]

X11 coins have no market cap.

Dash has a high market cap however the block reward is very low to miners.

So I am surprised that people actually designed an ASIC for this. Doesn't it cost $1,000,000 to for chip tape-out and everything?

[atp1916]

Pretty much.  This ain't something you cook up in your own lab.

That review page still looks scammy as all hell. 

It's a good point to make about the market cap for coins as well.  Who is going to spend the potential millions to build ASICs for algorithms that drive weak coins that have no real future outside of pump n dump schemes?

 

[adaseb]

Well its 152nm technology so maybe it cost $100,000 to design instead of $1 mil.

[Amph]

Well its 152nm technology so maybe it cost $100,000 to design instead of $1 mil.

they are selling this for 3k so by selling 30 of them they have already roied on the design aspect

[USScrypto]

It is not 152nm, the other X11 asic is using that process, this one should be 55nm hence the lower power usage.

[Rabinovitch]

Now there will be released an USB-miner for X11 algo. Soon.

https://dashtalk.org/threads/pinidea-asic-x11-miner-du-1-usb-version-hashrate-8-5-mh-s-releasing-in-mid-may-2016.8624/

[USScrypto]

They are yet to release anything actually, besides someone claiming to have a test unit shipped, nobody else has reported anything about the ordered unit shipped yet. There should be quite a few people that have already ordered, so be very careful until there is some real proof!

[Rabinovitch]

Now they have posted a link to their cgminer fork for using with DR-1 500 MH/s miner: https://github.com/PinIdea/ASIC-X11-Miner/releases/tag/v1.0

p.s. but it looks that this cgminer doesn't work well enough: https://dashtalk.org/threads/pinidea-asic-x11-miner-dr-1-hashrate-500mh-s-320w-weighs-4-5kg.8099/page-12#post-91971

[chup]

Now there will be released an USB-miner for X11 algo. Soon.

https://dashtalk.org/threads/pinidea-asic-x11-miner-du-1-usb-version-hashrate-8-5-mh-s-releasing-in-mid-may-2016.8624/

I can't trust "manufacturer" that claims hashing speed in MHz instead of MH/s.

[Rabinovitch]

But someone can. And it seems that if nothing ventured, nothing gained. 

https://dashtalk.org/threads/pinidea-asic-x11-miner-dr-1-hashrate-500mh-s-320w-weighs-4-5kg.8099/page-13#post-91984

[adaseb]

How many of those miners did they sell? Hashrate is around 80GH but for every 2 they sold it will increase by 1GH.