Spondoolies done?

[d57heinz]

what i mean is its not that far fetched a story from talks cheep.. I feel with bitmain past record its only a matter of time.. these machines are fire hazards!  All of them.. Not just bitmain.  if it has a pcie connector its subject to fire.  end of story

Best Regards
d57heinz

[notlist3d]

what i mean is its not that far fetched a story from talks cheep.. I feel with bitmain past record its only a matter of time.. these machines are fire hazards!  All of them.. Not just bitmain.  if it has a pcie connector its subject to fire.  end of story

Best Regards
d57heinz

I understand what your saying.  I just am using proper PSU's and proper electrical wiring, and have not had any problems with S7's.  

The S7 has been out quite a while at this point.  So I find it a little far fetched that not one house burning from them, to attribute them as fire starters burning down houses.  The problem I see what your saying with PCIe adapter = subject to fire is there so many different quality's of PSU's, Cables, etc.   So many variables in there besides just the miner.  

We just have not seen any news to show S7's related to burning down anything like a house(that I know of). And if I am wrong show me proof.

[s1gs3gv]

Good luck with your next project Guy. All the best.

[notlist3d]

Good luck with your next project Guy. All the best.

Are you trolling?   I don't think there is a next project after this.   I would guess next project is paying creditors the max they can until it goes under completely.  I would be very surprised if he manages  something after this.

[s1gs3gv]

Who asked you ?

~LOL~

[notlist3d]

Who asked you ?

~LOL~

I just found it funny as not many posted anything like that:

Good luck with your next project Guy. All the best.

Don't get me wrong I find it sad.  I liked my SP20's so I'm not being mean.  But his current project will be dealing with creditors and going out.   I just think he has a lot of clean up with SP before another project is even in picture.

[s1gs3gv]

I found Guy personable and smart in all the interactions I had with him and simply wish him well in the future, whatever new challenges and opportunities it holds.

[alh]

Bankruptcy and Liquidation don't last forever. Unless Guy is on the verge of retirement or something like that, he certainly could go on to do something else. I too wish him well in that future.

No trolling or sarcasm here.

[Newcoins2020]

Bankruptcy and Liquidation don't last forever. Unless Guy is on the verge of retirement or something like that, he certainly could go on to do something else. I too wish him well in that future.

No trolling or sarcasm here.

Obviously i hope that things with be settled in a honest and sophisticated matter.
It's a sad day of bitcoin, since there was a good balance between bitmain and spondoolies tech. Having 1 large party is a guarantee for a monopoly in both prices and influence.

Like i said.. very sad

[HarryKPeters]

To me it sounds that bitcoin has a very negative attraction to the evil within people. From what I've read the "as it is" is not a normal close of their business. Their aiscs were good, questions i was their management good too?

[notlist3d]

To me it sounds that bitcoin has a very negative attraction to the evil within people. From what I've read the "as it is" is not a normal close of their business. Their aiscs were good, questions i was their management good too?

They made good equipment I will not argue with others on that the SP20 was a good machine.   It seems going into next gen was when it all kinda got bad.  Was it due to hardship in R/D of new chip?  Bad management?  I doubt we will ever know.

[QuintLeo]

what i mean is its not that far fetched a story from talks cheep.. I feel with bitmain past record its only a matter of time.. these machines are fire hazards!  All of them.. Not just bitmain.  if it has a pcie connector its subject to fire.  end of story

Best Regards
d57heinz

 Oh? Then why do so few PCs with mid-to-high-end video cards burn?

 It's not the connector, it's morons like KNC that OVERLOADED the connector past specs on certain models (especially the Neptune) that caused melt issues.

 The SP20E, oddly enough, was one of the very few machines that put limits in how much power it COULD draw into it's firmware to make it very very difficult indeed to overstress  it - that "288 watt" limit per connector Spondoolies implimented happens to be the SPEC for those connectors for max power draw at 12V, oddly enough.

[Newcoins2020]

To me it sounds that bitcoin has a very negative attraction to the evil within people. From what I've read the "as it is" is not a normal close of their business. Their aiscs were good, questions i was their management good too?

They made good equipment I will not argue with others on that the SP20 was a good machine.   It seems going into next gen was when it all kinda got bad.  Was it due to hardship in R/D of new chip?  Bad management?  I doubt we will ever know.

The miners were safe indeed, which is why I wondered why left bailed out? Perhaps they were over ambitious with marketing etc.
But my main concern is that there is no real competitor now. Pools, miners it's all controlled from China...

[notlist3d]

To me it sounds that bitcoin has a very negative attraction to the evil within people. From what I've read the "as it is" is not a normal close of their business. Their aiscs were good, questions i was their management good too?

They made good equipment I will not argue with others on that the SP20 was a good machine.   It seems going into next gen was when it all kinda got bad.  Was it due to hardship in R/D of new chip?  Bad management?  I doubt we will ever know.

The miners were safe indeed, which is why I wondered why left bailed out? Perhaps they were over ambitious with marketing etc.
But my main concern is that there is no real competitor now. Pools, miners it's all controlled from China...

Why is ran out of money I think, they came to a point they were not near as profitable as past.  And again since we don't know internal happenings... we can guess but don't really know if management, bad R/D, or a combination of other things to.   Likely it was a combination of things.

Being in China on most companies does not really worry me a ton .   I think there still is one big company not in China with Bitfury, but most are based there on hardware manufactures. What worries me is the tighter margins on profits for most miners, this is something BTC really could use a move in value upwards.  

[QuintLeo]

Trying to price match vs. the S5 on a miner that was quite a bit more expensive to build (and had MUCH better overall capabilities) probably killed Spondoolies financials.

 I suspect they HAD to find a buyer to survive - unfortunately the buyer they found turned out to be in even WORSE shape in the medium term than Spondoolies was.

[samsonn25]

got this email today:



To our valued customers ,

As of May 4, 2016 Spondoolies-tech has ceased operations.

It has been a great privilege to serve the Bitcoin mining community and especially our customers. We deeply appreciate the support and faith that you have placed in us and wish you success in your future endeavors.

Sincerely,

Guy Corem CEO
Spondoolies-tech

Looks like it,

http://www.financemagnates.com/cryptocurrency/news/bitcoin-mining-equipment-producer-spondoolies-dissolved-court/

I guess Bitmain and Bitfury were too much for them to compete with in the end.

And Genesis:

Marco Streng is a miner, though he does not carry a pick around his base in south-western Iceland. Instead, he keeps tens of thousands of computers running 24 hours a day in fierce competition with others across the globe to earn bitcoins.