First Asic for SIA - Obelisk SC1

[COINKING84]

Bitmain https://shop.bitmain.com/productDetail.htm?pid=00020180116164357365a2ljX8gx06D3

[1714319189]

1714319189

[1714319189]

1714319189

[REAL_MORPHEUS]

Why would having asic miners have anything to do with the coin's value and longevity?  the same amount of coins will be generated in the same increments, its just that difficulty will shoot up and a few hundred people that own these miners will own the network.

Stability of the network and to protect a 51% attack.

https://blog.sia.tech/choosing-asics-for-sia-b318505b5b51

There are essentially a few main reasons:

GPU mining leaves smaller cryptocurrencies more vulnerable to attack.
ASICs better align incentives between users and miners, because they introduce a switching cost for miners.
Someone at some point will develop ASICs for Sia. By introducing them first, and selling them to our users, we can ensure that the network remains decentralized.

[REAL_MORPHEUS]

Found more vaporware

https://shop.bitmain.com/productDetail.htm?pid=00020180116164357365a2ljX8gx06D3

IMHO:

It appears some want the Obelisk presale to fail and are claiming they have units but unfortunately or not.... are all sold out LOL

Weak counter marketing... really?

Fake news!

Adding: 5 mins after I posted I see they now have availability ..... I don't buy it.

[nsummy]

Found more vaporware

https://shop.bitmain.com/productDetail.htm?pid=00020180116164357365a2ljX8gx06D3

IMHO:

It appears some want the Obelisk presale to fail and are claiming they have units but unfortunately or not.... are all sold out LOL

Weak counter marketing... really?

Fake news!

Adding: 5 mins after I posted I see they now have availability ..... I don't buy it.

I was able to buy one.  I'm sure all of the Obelisk bagholders are hoping this is fake news though.

[sluppy]

Yes Obi buyers have been f*cked , you could even wonder if the obi sellers knew this was coming and are just planning to buy the chips of bitmain later when they can get them for peanuts because the market will be totally saturated an no profit to be made anymore on selling miners.

[Searing]

Yes Obi buyers have been f*cked , you could even wonder if the obi sellers knew this was coming and are just planning to buy the chips of bitmain later when they can get them for peanuts because the market will be totally saturated an no profit to be made anymore on selling miners.

Yep.....we are hosed.....

Bitmain will kick them out like toasters...and in that the inflation rate of coin added to the world according to the Sia-Tech folk on launch that was gonna be,

with their units, an additional 25% more coins in existence per month.....and that was month to month I think for a bit

thus, without the storage plan that Sia-Tech has planned and the ASIC network to use or slurp up these coins...with the anon storage plan etc

Bitmain will do the same as it did with the x11 and Dash D3 miner...flood the world with them..too many coin...difficulty to the moon....doorstops

so by the time Sia-Tech folk HAVE a network up...it is unclear to me IF it would make any sense for anyone to even pay for electric to RUN the network

with so many coins about..they could just skip the whole network idea and just us the coin in existance...no ASIC network needed or such a network

would be no profit vs electric (note on above ..i likely don't know what I'm talking about..but looks like this to me at this point in time and bitmain involved)

i probably don't know what I'm talking about above on such, again, but I sense this is gonna also put a big crimp in the Sia-Tech network plans...do they

launch such early, because bitmain miners exist, or do they not and watch bitmain drive difficulty up and slam us around in another manner/unknown

but I do know that unless you get a 1st or 2nd batch bitmain miner A3 blake2b....you likely with the bitmain miners will NOT make any cash...if they shoot them

out in 5,000 unit batches as they have done with all other product.....and you are in the 4th or 5th batch (usually they start out with this weekly and sell out

at least the first couple 2-3 weeks) you are just as hosed as us Sia-tech miner purchasers

yep, 5 obelisk units...NOT my wisest move

oh well, needed the equip deduction anyway, so it was a 25% risk above paying the IRS and the state a total of my 50% tax rate...so that was applied to these units

and 25% equip deduction compressed from 5 years to 1 applied to taxes I know I will pay this year....so that saved another 25%...thus my total risk was 25% with above

so ...for my 5 units at $12,670.00 including shipping...my total loss vs paying IRS and State Taxes will be $3,167.50, again if they arrive as likely doorstops

thus if you are NOT trading IRS due and above tricks for equipment ...your total risk was 75% vs 25% equip deduction...so DON'T BE ME... I had an angle

lame angle in hindsight, but still an angle

Although?


there MAY be some hope...perhaps some new blake2b coins...but the odds are long.....

Bitmain will pump these out way past the point they can ROI..again if like the Bitmain D3 x11 miner.....those D3 folk will be lucky (especially now with price dump) to get

25% back towards ROI

by the way....any other protocol besides sha-256/scrypt-pow/x11/blake2b I should be aware of that Bitmain will make a miner for in say 3-6 months so I can ponder such?

Be nice to get a heads up...

you got to admire...bitmain's evil genius on mining and pumping bitcoin cash from inception....they got the whole evil empire thing down pat! Not to mention with BCH

they are still getting 15% to 20% more out of their miners with ASIC boost (why they hate seg witness that hardware trick don't work) ah.....evil..must be nice

to have no moral qualms and just sail thru life....going the full evil route.....refreshing probably....no entanglements/morals/etc....hmmmmm.....

on a positive note, I do have at least 5 doors that can use doorstops come July 2018 for air flow to my house (could have been worse almost got more...shudder)

so that will be a nice 'ego check' on doing something dumb like this in the future.....if I have to look at a bunch of unboxed obelisk units as doorstops all summer (yech!)

live and learn

bitmain: we do evil well (tm bitmain) bitmain: evil pays, don't ya know, don't believe the hype otherwise (tm bitmain) Bitmain miners don't kill ROI, users buying kill ROI (tm bitmain)

anyway, obviously I'm clueless, backed the wrong horse....but my take on this all

brad

p.s expect an annoucement of a Bitmain decred miners as soon as they get to the point that these blake2b units they ship are doorstops...that was the other

shoe that will fall, I was trying to remember, in how the bitmain playbook works now.

FML

[captain8]

Nearly bought the A3 upon announcement this morning,

Steering well clear of any first batch miners until i get some reviews!

[Searing]

Nearly bought the A3 upon announcement this morning,

Steering well clear of any first batch miners until i get some reviews!

again my post above (my thoughts who the frack knows!)

but anyway, ONLY the first 2 batches will be profitable....usually bitmain tosses batches out between 2,500 and 5,000

so you MIGHT ROI on the first couple batches..but again w/o sia-tech asic network to eat up all this siacoin for their legit

storage use.....I see siacoin going no place in price

maybe, another blake2b coin(s) will come around and save us...I doubt this

and again...from what I've been told..it is easy to make a decred miner ...so when these blake2b bitmain miners fade that will be the next

shoe to drop

with a 7 month lead time over Sia-Tech units.....I wonder if we will even SEE a unit...or maybe Sia-Tech just declares bankruptcy and walks

or goes POS coin route or something with another coin they make....unclear on how they will navigate this ....with the amount of coin

that will be in existence and NO ONE by July (even bitmain) feeling it is worth the loss of electric to keep their ASIC network up or launched

be interesting to see how Sia-Tech folk address this whole  Bitmain cluster

anyway, I'm out 3k and change in real $$$ vs paying tax man (see the previous post) I feel sorry for folk that ONLY have the 25% equip deduction in equip

in USA to fall back on...and are going to eat a 75% loss...w/o the equip depreciation credit....it is a 100% loss for some folk....

but again expect bitmain to release a decred miner as the next step

[CjMapope]

aww, who would have thought what some of us SAID would happen months ago with Bitmain actually WOULD?
well, me for one
you guys knew this was gonna happen, this is what bitmain DOES    

but hey i hear in 2019 the obelisk might have a version thats over 1GH......      (bitmains should be 10+ by then)

[Searing]

aww, who would have thought what some of us SAID would happen months ago with Bitmain actually WOULD?
well, me for one
you guys knew this was gonna happen, this is what bitmain DOES    

but hey i hear in 2019 the obelisk might have a version thats over 1GH......      (bitmains should be 10+ by then)

in our defense ...bitmain DID NOT go completely evil until AFTER July when I ordered my obelisk units....

in 20/20 hindsight since then ...holding equip and mining with it ..claiming firmware problems on price pump and to stop seg witness (bitmain) (by the by

my units after 6 weeks of holding them show jan 2017 firmware, I looked)

the Bitmain D3 fiasco etc

yeah, you are correct


but a lot of us bought these units before the whole bitmain escapades above and BCH etc and asic boost even happened

but you have a point...it just does not apply to me...on when I jumped and got these..I NEEDED the tax write off because was making

so much $$ from the previous NON-evil bitmain machines....I took a chance

sh*t happens it did not work...but again I'm only out 25% hit....over other taxes and or equip deductions

so anyway, 1st batch folk....we never had a clue that this was gonna play out in this manner...kinda sucks really, I liked bitmain beginning of the year....

[REAL_MORPHEUS]

It's not over until it's over....

From SIA developers regarding Bitmain Asics...

We prepared for something like this by adding an extra feature to the SC1. We can do a soft-fork that slightly changes the PoW algorithm which would invalidate the bitmain ASICs, but allow the SC1 units to continue working.

Let the games begin!

[tomwrx]

It's not over until it's over....

From SIA developers regarding Bitmain Asics...

We prepared for something like this by adding an extra feature to the SC1. We can do a soft-fork that slightly changes the PoW algorithm which would invalidate the bitmain ASICs, but allow the SC1 units to continue working.

Let the games begin!

Nice move from SIA devs! 

[nsummy]

It's not over until it's over....

From SIA developers regarding Bitmain Asics...

We prepared for something like this by adding an extra feature to the SC1. We can do a soft-fork that slightly changes the PoW algorithm which would invalidate the bitmain ASICs, but allow the SC1 units to continue working.

Let the games begin!

LOL do you have a source for this?  Any change like that would not be a soft fork

[nsummy]

aww, who would have thought what some of us SAID would happen months ago with Bitmain actually WOULD?
well, me for one
you guys knew this was gonna happen, this is what bitmain DOES    

but hey i hear in 2019 the obelisk might have a version thats over 1GH......      (bitmains should be 10+ by then)

in our defense ...bitmain DID NOT go completely evil until AFTER July when I ordered my obelisk units....

in 20/20 hindsight since then ...holding equip and mining with it ..claiming firmware problems on price pump and to stop seg witness (bitmain) (by the by

my units after 6 weeks of holding them show jan 2017 firmware, I looked)

the Bitmain D3 fiasco etc

yeah, you are correct


but a lot of us bought these units before the whole bitmain escapades above and BCH etc and asic boost even happened

but you have a point...it just does not apply to me...on when I jumped and got these..I NEEDED the tax write off because was making

so much $$ from the previous NON-evil bitmain machines....I took a chance

sh*t happens it did not work...but again I'm only out 25% hit....over other taxes and or equip deductions

so anyway, 1st batch folk....we never had a clue that this was gonna play out in this manner...kinda sucks really, I liked bitmain beginning of the year....

It doesn't matter if it was Bitmain or another company,  pre-paying for a yet to be produced asic miner that you won't get for nearly a year is a terrible idea. There are better tax shelters out there than speculating on this stuff

[TOMTESci]

Another thing to remember is the obelisk is rated at 500W and a3 is 1200W both are 800 GH.

Not sure how I feel about the "soft fork." Sounds kind of like a monopoly and defeats the purpose of "decentralizing" and an open market (not that bitmain hasn't done things like this either).

[kryptolarz]

Found the Baikal unicorn!

https://bitcointalk.org/index.php?topic=2595145.0;all

After reading all of the posts, I am still to find one non-reseller or dealer with any actual units and Baikal is claiming sold out.

I find it interesting that the reseller cannot get any units except of course his personal units he is selling at $15k USD post-crash LMAO....

I stand my ground on Vapor Scam/Ware  for the Baikal units.

Buyers totally beware!

I got in on the first batch from ITOP, I can confirm at least that the ones I received aren't vaporware.
Sorry for the bad pictures, the person setting them up just snapped these up quickly:

https://i.imgur.com/5NSbCX5.jpg
https://i.imgur.com/4islUVa.jpg
https://i.imgur.com/TX9WheR.png
https://i.imgur.com/D2z09kj.png
https://i.imgur.com/fnEah3x.png
https://i.imgur.com/gzdC04T.png

(Sorry for the off-topic post).

[sluppy]

I actually don't get the move from bitmain to make an asic for this .. the 11x market has lots of coins the blake market not nearly as many.
I guess they just hope to dump all their miners before people catch on that the market doesnt justify all these miners ?


the predicted miners from the Sia devs where limited in number leaving some meat on the bone with bitmain there wont be anything left after the first 2 batches like the  guy on the previous page said.

[REAL_MORPHEUS]

My only thoughts on motive  for Bitmain would be to attempt to pull the rug out and prevent another potentially competing hardware ASIC vendor from entering the market.

[kurbeks]

BTW A3 was only sold 1 per customer. So they are most likely selling them in very small batches as to avoid situation with D3. Also good time for them to sell them during BTC dump.

And reason why they made this is cause Blake is one of x11 algos, thsu if they invested in making x11 machine making Blake one is trivial. Just because they can. If profitability is high expect ASIC's for alll Baikal-B algos.

[Haryuki]

Hi,

I'm waiting the Sia response because a guy from reddit post this link about the co-founder of Bitmain

https://twitter.com/jihanwu/status/704476839566135298?lang=en

Yes, it's just for Bitcoin but for the others coins

Wait & See