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Author Topic: Can companies that produce mining equipment use devices?  (Read 2572 times)
coin revolution
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January 27, 2017, 03:24:07 PM
#1

Can the companies that produce mining machines use the devices for a certain period and then drive them to the market?
They may first use the level of difficulty they have developed themselves and then sell it later.
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January 27, 2017, 03:38:23 PM
#2

Yes that is how they "test" them.
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January 27, 2017, 04:31:04 PM
#3

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.
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January 27, 2017, 04:39:19 PM
#4

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.

Yes that is what they do when they """""""""""""""test""""""""""""""" them to make sure they work before shipping to customers. There may be some unseen delays in getting products to purchasers because of these """""""""""""""tests""""""""""""""" last longer than expected.
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January 27, 2017, 05:45:20 PM
#5

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.

Yes that is what they do when they """""""""""""""test""""""""""""""" them to make sure they work before shipping to customers. There may be some unseen delays in getting products to purchasers because of these """""""""""""""tests""""""""""""""" last longer than expected.

I'm not talking about from it.

For example, the BitMain company is now selling the S9.
But the bitmain company has the S10 on hand.
The S10 has been tested for quality control and is ready to be sold to customers.
But Bitmain wants to sell the S9 on the market first.
The customer does not know his S10.
Bitmain is doing bitcoin mining with the S10 device.
On the one hand, the S11 device is being developed.
After completing the development of the device S11, it is selling the device S10.

That's what I want to tell you. I do not know how else I can tell you more clearly.
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January 27, 2017, 06:30:03 PM
#6

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.

Yes that is what they do when they """""""""""""""test""""""""""""""" them to make sure they work before shipping to customers. There may be some unseen delays in getting products to purchasers because of these """""""""""""""tests""""""""""""""" last longer than expected.

I'm not talking about from it.

For example, the BitMain company is now selling the S9.
But the bitmain company has the S10 on hand.
The S10 has been tested for quality control and is ready to be sold to customers.
But Bitmain wants to sell the S9 on the market first.
The customer does not know his S10.
Bitmain is doing bitcoin mining with the S10 device.
On the one hand, the S11 device is being developed.
After completing the development of the device S11, it is selling the device S10.

That's what I want to tell you. I do not know how else I can tell you more clearly.

They would already need the capital to produce the next gen units. I doubt that they have that much to invest production of units with no orders. You could be right though. It would be interesting to see global hashrate before they release a new miner.
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January 28, 2017, 07:05:44 AM
#7

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.

i actually think that they sell the devices at a certain diff so the roi time is exactly what they want, based on an accurate estimate, it's not even that hard to do when you know the average increase, which is somehow always the same

and because of this it does not make sense to buy their equipment to roi, you will never roi unless you sell back to someone else
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January 28, 2017, 09:28:49 AM
#8

Yes of course, for example we can take bitfury. They are producing 16nm asic chip and they are using it for them and bitfury ceo said that at the same time they are going to sell it. Also coin revolution said really truth, to my mind new antminers are already created but they are waiting until full sell of s9, it's simply marketing trick and everyone uses it because it's impossible to create anything great in one day.

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January 28, 2017, 06:12:25 PM
#9

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.

Yes that is what they do when they """""""""""""""test""""""""""""""" them to make sure they work before shipping to customers. There may be some unseen delays in getting products to purchasers because of these """""""""""""""tests""""""""""""""" last longer than expected.

I'm not talking about from it.

For example, the BitMain company is now selling the S9.
But the bitmain company has the S10 on hand.
The S10 has been tested for quality control and is ready to be sold to customers.
But Bitmain wants to sell the S9 on the market first.
The customer does not know his S10.
Bitmain is doing bitcoin mining with the S10 device.
On the one hand, the S11 device is being developed.
After completing the development of the device S11, it is selling the device S10.

That's what I want to tell you. I do not know how else I can tell you more clearly.
I think they can do that, because nothing really stops them but I don't think they actually do, because it's more profitable and a lot easier to start selling the new ones (and continue selling old ones for lower price) than starting to do mining. Mining will require very big amounts of energy consumed and you have to take the risk that after a month or so some miners will break. And you need these additional devices to provide good ventilation as well.

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January 28, 2017, 08:48:49 PM
#10

A company can develop and use any technology they want.  Likewise, they can sell any machine they want and call it the latest and greatest available - but it just may be.  Look at the rise in BTC difficulty.  Someone brought a new generation ASIC online.  Maybe S11 or something else.  We don't know.  Likely warehouses of S9s were mining long before they publicly announced the hardware.  The physical units that were sold were late production models, sloppy seconds.

On the other hand, we, the market, can choose to buy or not.  Feels wrong to drop thousand$ on hardware that you HOPE will break even.  Only real chance one has is to use payouts as trading or investment capital.

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January 28, 2017, 10:14:49 PM
#11

I think there are companies doing this, after all, they can in that way make a significant profit, and then sell the equipment when they realize that the difficulty of mining is about to increase. I think the best way to avoid this kind of injury is to try to design your own mining equipment, I think there are only a few people with knowledge to do this, but it is possible.

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January 28, 2017, 10:32:17 PM
#12

I think there are companies doing this, after all, they can in that way make a significant profit, and then sell the equipment when they realize that the difficulty of mining is about to increase. I think the best way to avoid this kind of injury is to try to design your own mining equipment, I think there are only a few people with knowledge to do this, but it is possible.

As not everyone can design the mining equipment , that is why due to this reason is that they are approaching the manufacturer of the mining equipment and the manufacturer in the name of testing will first start mining the coin and after some days , they just pack it back in the box and send it to the buyer of the equipment. Because without mining they cannot find the result of the equipment
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January 28, 2017, 10:37:48 PM
#13

Can the companies that produce mining machines use the devices for a certain period and then drive them to the market?
They may first use the level of difficulty they have developed themselves and then sell it later.

Not that they can, but they do it. They mine with the new devices, test if everything goes well and then decide to sell that device or not, we know that mining rigs/equipment are not cheap so if a series of mining rigs fails then it would be bad for their company reputation. And I think that if the bitcoin difficulty increases rapidly within a short period of time then a mining rig series is being tested.


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QuintLeo
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January 29, 2017, 12:35:22 AM
#14

BitFury, Bitmain, BW.com (Lketc), and KNC were known to have their own farms (KNC is dead now though).
Innosilicon appears to not have a farm.
Not sure on Caanan.


Bitmain has a history of putting a "used gear" sale up for about a month on their then-current model before they introduce a new model for sale to the public.

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January 29, 2017, 04:49:22 PM
#15

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.

Yes that is what they do when they """""""""""""""test""""""""""""""" them to make sure they work before shipping to customers. There may be some unseen delays in getting products to purchasers because of these """""""""""""""tests""""""""""""""" last longer than expected.

I'm not talking about from it.

For example, the BitMain company is now selling the S9.
But the bitmain company has the S10 on hand.
The S10 has been tested for quality control and is ready to be sold to customers.
But Bitmain wants to sell the S9 on the market first.
The customer does not know his S10.
Bitmain is doing bitcoin mining with the S10 device.
On the one hand, the S11 device is being developed.
After completing the development of the device S11, it is selling the device S10.

That's what I want to tell you. I do not know how else I can tell you more clearly.

Let's be realistic. These days if that was happening we'd already know about it for sure. Someone from Bitmain would tell about it on a forum, especially if that person was fired from the company. But even if he wasn't he could do it anonymously. I think it's impossible to keep a secret that big without leaks.

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coin revolution
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January 29, 2017, 07:22:18 PM
#16

Yes that is how they "test" them.

What I would like to say is that they can use the devices for a certain period of time, extract the bitcoin and then sell it later.
I don't say: product quality testing.

Yes that is what they do when they """""""""""""""test""""""""""""""" them to make sure they work before shipping to customers. There may be some unseen delays in getting products to purchasers because of these """""""""""""""tests""""""""""""""" last longer than expected.

I'm not talking about from it.

For example, the BitMain company is now selling the S9.
But the bitmain company has the S10 on hand.
The S10 has been tested for quality control and is ready to be sold to customers.
But Bitmain wants to sell the S9 on the market first.
The customer does not know his S10.
Bitmain is doing bitcoin mining with the S10 device.
On the one hand, the S11 device is being developed.
After completing the development of the device S11, it is selling the device S10.

That's what I want to tell you. I do not know how else I can tell you more clearly.

Let's be realistic. These days if that was happening we'd already know about it for sure. Someone from Bitmain would tell about it on a forum, especially if that person was fired from the company. But even if he wasn't he could do it anonymously. I think it's impossible to keep a secret that big without leaks.

They can do prevent this with deterrent work contracts. If they are doing something like this, they can do it without sharing it with all the employees.

Of course, mine is just an assumption. There is no evidence that the companies have done anything like this. If it was me, I could.
nikkisnowe
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January 31, 2017, 08:38:01 PM
#17

The ASIC mining manufacturers understand a lesson learned over 150 years ago.  It's not the miners that get rich, it's the guy selling the shovels.   
QuintLeo
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January 31, 2017, 09:06:45 PM
#18

And the jeans (Levi Strauss reference).

I'm no longer legendary just in my own mind!
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January 31, 2017, 09:14:44 PM
#19

I think it happens, and I think the best way to reduce the chances of this happening is the emergence of more competition in the market, so that users could invest in companies that do not make the equipment available after a long time, when the difficulty of mining is already higher. Companies making things more difficult would have to adjust.

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February 01, 2017, 07:56:14 AM
#20

And the jeans (Levi Strauss reference).

So for Bitcoin mining would that be a robe and slippers?  Smiley

Very little "dirty" mining for most folks......
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