First Asic for SIA - Obelisk SC1

[darval]

But the interesting thing is that if they sell 2000 units, instead of their original 10,000, then (I BELIEVE) these Obelisks would be 5 times more profitable than originally projected... at least before a second batch comes online. If I'm way off on this, please feel free to set me straight.

You are correct that the original projections about return rate and SC monthly production was based on the estimated 10k ASICS produced.  With the new cap being at 4k, this means the initial monthly SC production is 2.5 times more.  

Not quite 2.5 * more monthly production - only in a world where GPU's aren't mining Siacoin.
The current network hashrate is 386Th/s. This is equal to 3860 Obelisks.

Agreed.  My quick numbers didn't take the GPU miners into account.  However I believe that the GPUs will quickly move to other more profitable coins once the ASICs come into play.  It won't take many ASICs to start influencing the return from GPUS (making them not competitive) and they can easily move to other coins.  This will make the numbers more closely model just a ASIC only mining environment.

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[Metroid]

Look at the current price, see, is going to hell, know why? because asics are coming, stupid devs. Siacoin will likely never be pumped again, people know this is not a good investment anymore. They are getting out.

[damstr]

Look at the current price, see, is going to hell, know why? because asics are coming, stupid devs. Siacoin will likely never be pumped again, people know this is not a good investment anymore. They are getting out.

Have you looked at coin prices in the last 24 hours? They are almost all red...

[darval]

For those who purchased Obelisks, we received this update in email:
Presale Updates
Thank you so much for being one of the first to preorder the Obelisk SC1 miner. We received over 1,000 preorders, which has provided us with enough funding to pay for the bulk of the chip design costs. We are so grateful for your trust, and we will work tirelessly to ship your order by June 2018.
 
The 1,000 preorders give us enough funding for the chip design costs, but not enough funding to produce the chips and manufacture completed units. For that, we need to sell a minimum of 2,000 units – and that minimum gives us absolutely no breathing room.
 
We have therefore decided to extend the presale with a cap of 4,000 units. The presale will officially end when we receive payment for the 4,000th unit. We are confident that, by introducing a cap, we will pass the 2,000-unit minimum and gain some breathing room for unexpected obstacles or delays.
 
This extension of the sale does not affect the timeline. We still plan to ship by June 2018 at the latest, and the chip design project is running on schedule. We are still including with each unit a $250 coupon for future batches and a mining exclusivity period of 6 weeks.
 
Additionally, the cap at 4,000 units means that the expected per-unit mining reward during the 6-week exclusivity period will be about 200,000 SC.
 
We hope you understand our decision, and we look forward to hearing your questions and concerns. We recognize that, by ordering in the first week, you deserve some special treatment and recognition. We’ll be sending out exclusive Sia+Obelisk branded gear in the coming weeks. We'll also be increasing your per-unit coupons to $400.
 
As always, you can email hello@obelisk.tech and we will get back to you as soon as possible.
 
Best,
 
- Team Obelisk

[Searing]

Look at the current price, see, is going to hell, know why? because asics are coming, stupid devs. Siacoin will likely never be pumped again, people know this is not a good investment anymore. They are getting out.

Have you looked at coin prices in the last 24 hours? They are almost all red...

I made too much this year on crypto. In the 45% or better tax bracket. (w/state) ..thus it is pick up this or bitmain asic products
or flush it to the IRS.....its like Pacman at my heels....the more LTC price goes up ..the more I have to scamble...

AS to those w/o such an angle..you are braver then myself Keep this in mind if you see some of us taking a
chance on these guys and going HUH?

[benjy33]

sia to the moon!!

[snowyNNN]

"We still plan to ship by June 2018 at the latest" !

So one has to wait a year for this miner possibly ?

[Eyedol-X]

For those who purchased Obelisks, we received this update in email:
Presale Updates
Thank you so much for being one of the first to preorder the Obelisk SC1 miner. We received over 1,000 preorders, which has provided us with enough funding to pay for the bulk of the chip design costs. We are so grateful for your trust, and we will work tirelessly to ship your order by June 2018.
 
The 1,000 preorders give us enough funding for the chip design costs, but not enough funding to produce the chips and manufacture completed units. For that, we need to sell a minimum of 2,000 units – and that minimum gives us absolutely no breathing room.
 
We have therefore decided to extend the presale with a cap of 4,000 units. The presale will officially end when we receive payment for the 4,000th unit. We are confident that, by introducing a cap, we will pass the 2,000-unit minimum and gain some breathing room for unexpected obstacles or delays.
 
This extension of the sale does not affect the timeline. We still plan to ship by June 2018 at the latest, and the chip design project is running on schedule. We are still including with each unit a $250 coupon for future batches and a mining exclusivity period of 6 weeks.
 
Additionally, the cap at 4,000 units means that the expected per-unit mining reward during the 6-week exclusivity period will be about 200,000 SC.
 
We hope you understand our decision, and we look forward to hearing your questions and concerns. We recognize that, by ordering in the first week, you deserve some special treatment and recognition. We’ll be sending out exclusive Sia+Obelisk branded gear in the coming weeks. We'll also be increasing your per-unit coupons to $400.
 
As always, you can email hello@obelisk.tech and we will get back to you as soon as possible.
 
Best,
 
- Team Obelisk

Got this same update as well, looking forward to the 2nd phase of the pre-sale passing that 2000 unit mark to lock in the production.

Interested to see what kind of swag they send out.

[ekrififi]

How long do you guys think it'll take for Obelisk to reach their new 4k unit cap? I definitely want to purchase a second asic, but (as always) there are some other crypto opportunities I might want to invest in first.

[ekrififi]

"We still plan to ship by June 2018 at the latest" !

So one has to wait a year for this miner possibly ?

June 2018 is the latest the ASICs could arrive, but their development team stated it could be months earlier. Asic production is expensive and complicated. Personally, I think they gave themselves some cushion to avoid another Butterfly Labs fiasco...

But, yeah... it's a long lead time. Probably part of the reason their 1st week presales were a tenth of what they expected. A year is a long time, no doubt... BUT with their batch capped at 4k units, the projected returns forneach unit just more than doubled...

and, as a wise man once said, "the future happens"

[darval]

June 2018 is the latest the ASICs could arrive, but their development team stated it could be months earlier. Asic production is expensive and complicated. Personally, I think they gave themselves some cushion to avoid another Butterfly Labs fiasco...

But, yeah... it's a long lead time. Probably part of the reason their 1st week presales were a tenth of what they expected. A year is a long time, no doubt... BUT with their batch capped at 4k units, the projected returns forneach unit just more than doubled...

and, as a wise man once said, "the future happens"

I think they (Nebulous Labs) were very surprised by the low volume of actual sales they had.  There are probably a myriad of reasons from focussing on the wrong market (they were marketing to SIA users rather than miners) to the long lead time and the overall current slide in the crypto market.

Personally I invested in SC last year and with the increase (before the current slide) I was able to pull out enough capital to expand my BTC miner pool, my GPU pool and buy Obelisks.  All while still holding about 1/2 my original investment in SC.  I will let the haters hate and take my increased income from my Sia involvement and enjoy.

[superskillz]

I think they (Nebulous Labs) were very surprised by the low volume of actual sales they had.  There are probably a myriad of reasons from focussing on the wrong market (they were marketing to SIA users rather than miners) to the long lead time and the overall current slide in the crypto market.

Personally I invested in SC last year and with the increase (before the current slide) I was able to pull out enough capital to expand my BTC miner pool, my GPU pool and buy Obelisks.  All while still holding about 1/2 my original investment in SC.  I will let the haters hate and take my increased income from my Sia involvement and enjoy.

I agree that marketing to miners is key. There is still an opportunity there. Congrats on the wins -- hoping to mine some Sia with you when the first orders arrive!

[FarmerOak]

I preordered in the first week, but plan to pay tomorrow. Do I still honor the BTC quote in the email, or should I recalculate based on the price at the time?

[superskillz]

I preordered in the first week, but plan to pay tomorrow. Do I still honor the BTC quote in the email, or should I recalculate based on the price at the time?

I recommend re-calculating as they said they would refund any difference greater than 5%. Might as well just do the calculation yourself.

[CjMapope]

"We still plan to ship by June 2018 at the latest" !

So one has to wait a year for this miner possibly ?

yupp, and people who paid for a minebox (their last money grab) months ago are still getting the run around, months behind their last "latest by" delivery and nothing but promises made for their future...

but hey thats how robbing paul to deliver peter's machines works right?

and yet people buy....  

crypto is funny ahha

[Marvell1]

"We still plan to ship by June 2018 at the latest" !

So one has to wait a year for this miner possibly ?

yupp, and people who paid for a minebox (their last money grab) months ago are still getting the run around, months behind their last "latest by" delivery and nothing but promises made for their future...

but hey thats how robbing paul to deliver peter's machines works right?

and yet people buy....  

crypto is funny ahha

cant wait to revist this next year

[Eyedol-X]

"We still plan to ship by June 2018 at the latest" !

So one has to wait a year for this miner possibly ?

yupp, and people who paid for a minebox (their last money grab) months ago are still getting the run around, months behind their last "latest by" delivery and nothing but promises made for their future...

but hey thats how robbing paul to deliver peter's machines works right?

and yet people buy....  

crypto is funny ahha

I pre-ordered the minebox and I am not getting the run around -- I just got an e-mail from them last week.

[superskillz]

I pre-ordered the minebox and I am not getting the run around -- I just got an e-mail from them last week.

Good to hear. I hope minebox is great. Let us know once you get started!

[FarmerOak]

"We still plan to ship by June 2018 at the latest" !

So one has to wait a year for this miner possibly ?

yupp, and people who paid for a minebox (their last money grab) months ago are still getting the run around, months behind their last "latest by" delivery and nothing but promises made for their future...

but hey thats how robbing paul to deliver peter's machines works right?

and yet people buy....  

crypto is funny ahha

Is minerbox connected with the SIA team? I was under the impression that they are not affiliated

[CjMapope]

"We still plan to ship by June 2018 at the latest" !

So one has to wait a year for this miner possibly ?

yupp, and people who paid for a minebox (their last money grab) months ago are still getting the run around, months behind their last "latest by" delivery and nothing but promises made for their future...

but hey thats how robbing paul to deliver peter's machines works right?

and yet people buy....  

crypto is funny ahha

cant wait to revist this next year

in 12 months there will be tears. whether they will be of joy or sadness will yet to be seen till then tho
i also expect another gen b4 this first gen are delivered, hopefully im wrong tho

edit: i wanted to say a it more in this post of how i think its going/gonna go down . then in 12 months i can come back and see hehe

-You don't call something "Sc1" unless you hav already planned a "Sc2" and more
-they didnt have the cash or rep to get a good spot in a foundry to get better chips, so 28nm it is.
-they will sell the 28nm Sc1's to raise money for the Sc2 (prob 16nm) "Sc2's"
-Sc2 will announce in 8 months


idk, this just didnt fit me personally, if i paid for a previous product and 2 months after initial "delivery date" still had NOTHING in my hands, i could NEVER personally give the same people more money for another "product"(i use quotations as these things dont actually exist YET), but hey thats just me ;p