First Asic for SIA - Obelisk SC1

[manav24]

Look at what bitmain did to ibelink, baikal and innosilicon with the dash miners. Bitmain will ruin these companies with the d3, and noone thought bitmain would pursue x11, what if they pursue blake2b? Be very weary...

I dont think they will as SIA is just another ALT for them with almost zero value and Also by looking at the struggle for sale of Obelisk would have put off any company thinking about the same. They are not really intrested in Technology behind a coin, all they need is your $$$ and I dont think SIA will cut it for them.

[shaninium]

Look at what bitmain did to ibelink, baikal and innosilicon with the dash miners. Bitmain will ruin these companies with the d3, and noone thought bitmain would pursue x11, what if they pursue blake2b? Be very weary...

I dont think they will as SIA is just another ALT for them with almost zero value and Also by looking at the struggle for sale of Obelisk would have put off any company thinking about the same. They are not really intrested in Technology behind a coin, all they need is your $$$ and I dont think SIA will cut it for them.

The struggle of the obelisk sale is the price and the time to wait for shipment. Bitmain could easily bring something out in 4 not 9+ months and far cheaper. If these obelisks were sold at 1500$ instead of 2500 or shipped by xmas then theyd be sold out by now. Dash was just another alt to them too. Sia will have huge value if its the first coin of its kind to obtain an asic to secure its network. Its definately pumpable as history has shown. Its not likely this will happen before the obelisk ships, but after that its more likely to happen if sia succeeds.

[ekrififi]

Look at what bitmain did to ibelink, baikal and innosilicon with the dash miners. Bitmain will ruin these companies with the d3, and noone thought bitmain would pursue x11, what if they pursue blake2b? Be very weary...

I dont think they will as SIA is just another ALT for them with almost zero value and Also by looking at the struggle for sale of Obelisk would have put off any company thinking about the same. They are not really intrested in Technology behind a coin, all they need is your $$$ and I dont think SIA will cut it for them.

Couldn't have said it better myself...

The only thing I'd add is that IF the day ever comes when Bitmain produces Blake2b ASICs... then nobody would be happier than first generation Obelisk customers. How does that make any sense?

Well, if Bitmain decides that SiaCoin Asics are worth persuing, then the price of Sia would already be so high, and SiaCoin mining would be so profitable, that first generation Obelisk customers would have already made a pretty satoshi...

That's basically what happened with Litecoin and Dash.

[Searing]

Look at what bitmain did to ibelink, baikal and innosilicon with the dash miners. Bitmain will ruin these companies with the d3, and noone thought bitmain would pursue x11, what if they pursue blake2b? Be very weary...

I dont think they will as SIA is just another ALT for them with almost zero value and Also by looking at the struggle for sale of Obelisk would have put off any company thinking about the same. They are not really intrested in Technology behind a coin, all they need is your $$$ and I dont think SIA will cut it for them.

Couldn't have said it better myself...

The only thing I'd add is that IF the day ever comes when Bitmain produces Blake2b ASICs... then nobody would be happier than first generation Obelisk customers. How does that make any sense?

Well, if Bitmain decides that SiaCoin Asics are worth persuing, then the price of Sia would already be so high, and SiaCoin mining would be so profitable, that first generation Obelisk customers would have already made a pretty satoshi...

That's basically what happened with Litecoin and Dash.

Also if Bitmain was to show an interest (or be perceived as doing such), it would be likely imho that someone or many someones would develop MORE blake2b coins (assuming
this is possible..for all I know blake2b is ONLY siacoin ..thus the b tag)

that would open things up quite a bit imho...and make these miners more likely to mine something, even after say difficulty on siacoin proper may be too hard

anyway, this is all speculation ...

the way to look at these units is the way venture capitalists look at investing VC money..if the odds are about 50/50 or better...you jump in......(if over 50/50 everyone would be in already)
and you HOPE it hits (say 1 out of 3 chance) ...if it hits you are golden... if not..you lose it all.

Thus on anything like this 1 year in advance timeline...give them what money YOU CAN AFFORD TO LOSE on this speculative gamble...and mentally think of a nice campfire and toss all that money in...and walk away....

If it works you are surprised...if not ...well.....folks like us get few VC opportunities of any note to learn about....so at least you can say you 'man'd up' and lost on a VC gamble

Again, even if the devs intentions are good....and they are honest etc...this whole thing could still go 'pear shaped' at any time...be aware..

(crypto always drama)

[yvmen]

the only thing ... that worry me about this is they are using 28nm chip as what i know s9 antminer is using 16or 18nm chip ..
and what samsung phone on s7 are using 10nm chip this is what i read few month ago .. so i stop buying antminer is when i know new chip in production
so what worry me is when all this S11 of antminer using those 10nm chip for next gen miner ... then those extra 16 or 18nm chip will take place to replace
sia asic miner ... and if u say is 3 month later or 5 maybe .. i will still take the risk from now till june is about 10 month anything can happen ...

10 month ago or so is where s9 antminer replace S7 antminer so ... matter of time ..


just my 2 cent of view and what i read when i want to buy antminer back then


yvmen

[jmigdlc99]

Wow this is great. What this SIA ASIC actually means to me:

OBELISK ASIC = 3 MONTHS ROI = PROFIT $$$

However, with more of the coin will in circulation, what impact will this have on SIA price?

[Rippa84]

However, with more of the coin will in circulation, what impact will this have on SIA price?

None to little. The daily Block Reward will stay the same but mostly distributed between Obelisk owners.

[Searing]

Wow this is great. What this SIA ASIC actually means to me:

OBELISK ASIC = 3 MONTHS ROI = PROFIT $$$

However, with more of the coin will in circulation, what impact will this have on SIA price?

Well...not sure that is gonna happen.....been buying ASIC's since 2013...thus....IF and I mean IF
their ASIC equipment can ROI from say 10-12 months, I'd consider that a win, with the equip
deduction, that in USA can all be taken that particular year.

As to other silliness


Well...I'm considering NOW, getting 2 more siacoin Obelisk SC-1 miners to make it an even 4 miners total. (1 in batch 100 and 1 at around 1300 mark..this 2 unit batch
would probably be above 1500 mark)

mainly because I need the equip deductions and BTC as I speak is at $3407 usd. Which comes out at 1.488 BTC or .744 btc each.

Anyone else on who is considering same......(uncertainty loves company)

[ekrififi]

However, with more of the coin will in circulation, what impact will this have on SIA price?

None to little. The daily Block Reward will stay the same but mostly distributed between Obelisk owners.

Nobody can accurately predict what impact these ASICs will have on the price of Siacoin, BUT I CAN give you my rosy speculation if you're interested...

Crypto is such a new asset class, it's hard to find precedent / correlaries... That being said, if you look at the trading patterns of Litecoin and Dash after their first asics hit the market, I believe you'll find that the price initially dropped. I asssume a lot of that was miners looking to ROI by converting to btc or cash, but who know?

That was in the short term... had those miners HELD ON TO what they mined, even when the price dropped, they'd probably be millionairs now, or close to it... In other words, if you factor in the giant price increase of ltc/dash, those first gen asics were EXTREMELY profitable, in spite of the initial dip in price.


That's not to say that will happen here... 2 alt coins are a very small sample set

There's also a big difference between the Obelisks and those first generation ltc/dash Asics...The companies that built the first litecoin and dash asics did so because they thought it would be profitable... they thought it would be profitable because the price/profitability/interest in the coin was already present.

Those factors probably/definitely could/do have a lot more to do with the meteoric rise in price litecoin and dash have enjoyed. The Obelisk Asic company, on the other hand, is comprised of the same developers ass the coin itself... They CHOSE to build an Asic for Blake2b, not because they thought it was the most profitable algo to mine, but rather to add security to their network.

I do think that having a more secure network, AND a development team capable of getting an Asic to market is indicative of a coin that's going places, but nobody knows. It's uncharted territory.. They haven't even done it yet...

But if I may make one humble prediction, I think that future mining newbies will do a quick search for what alt coins can be mined with Asics, and (with the oversaturation of other algos) seek out an Obelisk if only for the novelty and diversity.

TLDR: While having an Asic doesn't guarantee any rise in price for a coin, I do think it's a good sign and indicative of a stable coin with a future. The success of the coin will ultimately hinge on whether people use their coin for decentralized data storage... But an asic is rarified air for sure, and great first step.

[ekrififi]

Wow this is great. What this SIA ASIC actually means to me:

OBELISK ASIC = 3 MONTHS ROI = PROFIT $$$

However, with more of the coin will in circulation, what impact will this have on SIA price?

Well...not sure that is gonna happen.....been buying ASIC's since 2013...thus....IF and I mean IF
their ASIC equipment can ROI from say 10-12 months, I'd consider that a win, with the equip
deduction, that in USA can all be taken that particular year.

As to other silliness


Well...I'm considering NOW, getting 2 more siacoin Obelisk SC-1 miners to make it an even 4 miners total. (1 in batch 100 and 1 at around 1300 mark..this 2 unit batch
would probably be above 1500 mark)

mainly because I need the equip deductions and BTC as I speak is at $3407 usd. Which comes out at 1.488 BTC or .744 btc each.

Anyone else on who is considering same......(uncertainty loves company)

Hats off to Searing for putting his money where his doubt usually is.

Personally, I threw a bunch of crypto towards hardware that's FINALLY starting to arrive. I bought an Obelisk the first hour they went on sale, but haven't bought another one since. I'm hoping to buy 3 more when my crypto flow allows... and a(n irrational) part of me is worried they'll sell out before then... Luckily the sales counter seems to be on my side.

On a side note Searing, if you're buying 4 SC1s... how do you plan on stacking your Sia when you're mining? Do you plan on holding Sia, or trading out of it? Reinvesting it in the SC2?... ... or maybe selling data storage at a reduced rate? A combination of all 4?

[Searing]

Wow this is great. What this SIA ASIC actually means to me:

OBELISK ASIC = 3 MONTHS ROI = PROFIT $$$

However, with more of the coin will in circulation, what impact will this have on SIA price?

Well...not sure that is gonna happen.....been buying ASIC's since 2013...thus....IF and I mean IF
their ASIC equipment can ROI from say 10-12 months, I'd consider that a win, with the equip
deduction, that in USA can all be taken that particular year.

As to other silliness


Well...I'm considering NOW, getting 2 more siacoin Obelisk SC-1 miners to make it an even 4 miners total. (1 in batch 100 and 1 at around 1300 mark..this 2 unit batch
would probably be above 1500 mark)

mainly because I need the equip deductions and BTC as I speak is at $3407 usd. Which comes out at 1.488 BTC or .744 btc each.

Anyone else on who is considering same......(uncertainty loves company)

Hats off to Searing for putting his money where his doubt usually is.

Personally, I threw a bunch of crypto towards hardware that's FINALLY starting to arrive. I bought an Obelisk the first hour they went on sale, but haven't bought another one since. I'm hoping to buy 3 more when my crypto flow allows... and a(n irrational) part of me is worried they'll sell out before then... Luckily the sales counter seems to be on my side.

On a side note Searing, if you're buying 4 SC1s... how do you plan on stacking your Sia when you're mining? Do you plan on holding Sia, or trading out of it? Reinvesting it in the SC2?... ... or maybe selling data storage at a reduced rate? A combination of all 4?

yeah I pulled the trigger and got two more (see my pm to you) I added 2 tonite to make a total of 4 units. 1 in first 100 lot. 2nd in 1300 area and this last in the 1450 lot or so.

no idea...just probably have them setup in a row on my miner table setup ...the titans should be doorstops in the basement by then or I'll put them with my main
stuff at the data hall...

I don't have data hall pics..but the setup by the dryer in the pics below is still going strong in the basement. All other hash is elsewhere. (ran out of data hall room)

lostgonzo.imgur.com

Again probably same setup with the 2580 server psu's in the old jupiter cases below for power. (notice no y adapters needed on Titans on the 1 server unit. 15awg wire.)

anyway sent you a pm

brad

[shaninium]

With 28,428,047,460 coins already in circulation doesnt leave too much room for any major future price increases. Id avoid buying from future obelisk batches.

[dazbog835]

lostgonzo.imgur.com

Out of curiosity, why the plexiglass foundation? Just aesthetics or a heating reason?


Anyway... These SC1's are looking more and more tempting... I wish this bull run would start already so I could more easily afford one. Someone lend me the cash?

[Searing]

lostgonzo.imgur.com

Out of curiosity, why the plexiglass foundation? Just aesthetics or a heating reason?


Anyway... These SC1's are looking more and more tempting... I wish this bull run would start already so I could more easily afford one. Someone lend me the cash?

I had some glass .the old type folk on old dressers...I put it down because of the cheap half assed controller board just sitting on the table KNC titan setup (sucks)

so seems to keep it a bit cooler and a bit of anti-static me thinks...and looked better there then on the old dressers

the workbench is like 200 bucks at sam's club and real frigging butcher block and heavy duty steel legs...also the shelves are menard's closet setup stuff

works slick

the PSU's are a buddies idea (maxumark) he found the bladed back plates with the computer protection guts of a regular PSU inside for over voltage protection etc
pop'd them in the old knc Jupiter 550gh btc case and 15 AWG wire no y connectors needed 2580 watts at 94% eff (vs corsair1200i 91%) and cost 300 bucks for
the works new....platinum also (equiv 1200i Corsair 1200 watt also 300 bucks only ran 1/2 a titan) thus a good hack

and again as to siacoin

they will either make it as a decentralized storage operation as they have planned, cheaper than the big boys, using ASICs for speed, security etc, transactions
with the siacoin's themselves acting more as a token than a store of value...or we are all screwed.

this project works as a bitcoin equiv of a decentralized storage with the ASIC's and siacoin as kinda tokens angle

or it all goes poof...thus the ASIC's they have stated would not work as a gpu merge mined coin for the purposes they want to use this coin for .not enough control
security etc

so this is long term 2018 stuff ...or so in my limited way as how I see the project so far and I also BADLY needed the equip depreciation this year

thus it is a gamble

later

brad

[dazbog835]

lostgonzo.imgur.com

Out of curiosity, why the plexiglass foundation? Just aesthetics or a heating reason?

I had some glass .the old type folk on old dressers...I put it down because of the cheap half assed controller board just sitting on the table KNC titan setup (sucks)

Seems cool.


Get it? oh, I kill myself.

thus it is a gamble

A lot of you keep mentioning this is a gamble. Sure. But so is all of crypto. I don't see how this is any more of a gamble. I feel it's even less so than a lot of other options out there.

And I really like the passive income aspect. I don't have a lot of income, so in order to get more money into crypto, which I believe is the smart thing in 2017, 2018, 2019, 2020, this enables me to do that.

I was thinking, sell half, leave half in siacoin? That way I'm made full in about 4-5 months. After that, all else is profit.

And I do believe in siacoin.

[Isten]

Good news for SIA . To The Moon coming?

[ekrififi]

Pretty good article about the future of cloud storage.

Talks about Sia and their competitors like Storj

https://hacked.com/cloud-storage-mature-saturation-early-adopter-phase/

[rummy]

Anyone care to comment on why Siacoin is down to almost 100 satoshi while Storj is soaring up over a dollar fifty.

[Bibi187]

Anyone care to comment on why Siacoin is down to almost 100 satoshi while Storj is soaring up over a dollar fifty.

Pump & Dump

[ekrififi]

Anyone care to comment on why Siacoin is down to almost 100 satoshi while Storj is soaring up over a dollar fifty.

Pump & Dump

It's a valid question, and of course I can't answer with certainty why one coin moves one way, while another moves a different way in the short term. Any answer would be speculation.

BUT i will say this much... I think the Sia team is taking a more measured, long term play. They are focusing on their infrastructure, technology, scalability, updates, and (with these Obelisks) securing their network /blockchain.

Sia's development team seems to be less focused on short term pumps... keeping their marketing powder dry for when their network is actually able to compete with data storage juggernauts like Amazon...

You only get one chance with some of this stuff, just my rose colored humble speculation..