New SIA Coin Miner being released [Obelisk]

[fokilpt]

https://obelisk.tech/

Anyone see this? It's $2500 to preorder it, I wonder if that is just an introductory price or if the price will increase?


It sounds nice. If only I could afford one of these. I am actually thinking about getting a loan from someone to purchase this, and pay them back $3000, so basically the first 3 months would be dedicated to paying them back. That is, if the estimates below are correct from Reddit. Regardless; there is money to be made even with one of these in your home I think. Does anyone agree? Anyone want to preorder one of these and make $500? It was a joke but in all seriousness if anyone is interested; here is a pastebin link with a wall of text: https://pastebin.com/u82upndr


Tech Details
CHIP:FULL-CUSTOM 28NM ASIC
HASHRATE:100+GH/S
POWER CONSUMPTION:500 W OR UNDER
NOISE:65 DBA OR UNDER
WEIGHT:20 POUNDS OR UNDER
POWER SUPPLY:INCLUDED

100+ GH/S for Sia? This thing would bring an amazing amount of profit in the long run for sure! I read estimates on a subreddit about this miner that claimed $1k a month earnings per Obelisk. So 75 days and you get your money back? Wonder if the estimates are even close.

One thing I don't understand is their calculator on their website... If you take a look https://obelisk.tech/index.html#info it says "Monthly Mining Reward" and it's 60,000 SC; but it has automatically entered expected total obelisks at 10,000. Only about 650 have been preordered so far. So on release lets say it's half that (5000) would it realistically give 120,000 SC? It seems not to take into account anybody else in the world mining SIA whether it's other hardware or software. I don't know, maybe it does? Was just a curiosity to me.


So what do you guys think about this Obelisk Sia Coin Miner?


Also, offtopic but; I was looking at hardware miners and came across a miner everyone is probably aware of:
https://shop.bitmain.com/productDetail.htm?pid=00020160307072415240XwaQIqfF06D3

Is this worth buying? It says it's a lottery to receive 12.5 BTC (wow!) but the chances are probably less than a half a percent? Or less than that? Anyone know?

Was also looking at this

https://shop.bitmain.com/overview.htm?name=antrouter_r1_ltc_wireless_router_and_asic_litecoin_miner

It says coming soon but it was released late June from their facebook... I don't understand why it still says coming soon.. I would actually buy this since it mines Litecoin (slowly but surely) and you can also get a chance at the "lottery"

Does anyone know what the R1-LTC is selling for? Are there people selling it right now? Going to have to look through this forum I guess..

Anybody have any recommendations for cheap at-home miners under like $200 that could do any good? I would love to have an altcoin miner (hence my amazement at this siacoin miner) but they are all very costly. I guess people are out there building their own hardware miners to mine altcoins in their infancy and eventually will probably be making good money because of it. Wish I could have learned Electrical Engineering haha.

Thanks for reading! Let me know what you think of this miner, and if you have a chance, tell me yes/no on the first and second bitmain miners (they sure are cheap... but I would probably be wasting my money correct?)

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[thekingmaker]

By the time these hit the market, the difficulty will be much higher. You don't know how much profit you are going to make at that time.

[Metroid]

By the time these hit the market, the difficulty will be much higher. You don't know how much profit you are going to make at that time.

When this hits the market, siacoin is done for 6 months after that, its gameover, reason why price is already crashing and nobody will invest on it anymore. Way to go you stupid devs.

[Apneal]

Yea, really the only way it can recover is if SIA coins get tied up in the actual use of the tech. I dont see that happening.

[PovertyByte]

They should have released a weaker but cheaper ASIC because the price of this is asking for mining centralization. A modest 300 USD ASIC bought early would present amazing profits before the network is fully taken over by the obelisk ASIC's. I would get 1-2 of them at that price. A bunch of people would. You would have the mining power more distributed that way compared to this expensive model.

SiaCoin made a nice post about why ASIC is a good move, but they really screwed up on that one aspect.

[Metroid]

SiaCoin made a nice post about why ASIC is a good move, but they really screwed up on that one aspect.

Sure they made a nice post, they want idiots/investors to keep buying siacoin. Have you ever seen people defending their own mistakes and shameful acts of greedy and selfishness, that is what siacoin devs are doing, an one hit and run for life, they want to build as many siacoin asics they can and then abandon the project after 6 months the asics hit the network because they know they cant control it anymore after that. They want to earn as much money as possible and fast. Siacoin died the moment they decide asicing the network for personal gains and the funny thing is they say is for security hehe

[Bare]

SiaCoin made a nice post about why ASIC is a good move, but they really screwed up on that one aspect.

Sure they made a nice post, they want idiots/investors to keep buying siacoin. Have you ever seen people defending their own mistakes and shameful acts of greedy and selfishness, that is what siacoin devs are doing, an one hit and run for life, they want to build as many siacoin asics they can and then abandon the project after 6 months the asics hit the network because they know they cant control it anymore after that. They want to earn as much money as possible and fast. Siacoin died the moment they decide asicing the network for personal gains and the funny thing is they say is for security hehe

I mean how could asic ever be a good move? the whole point of cryptocurrencies is decentralization, people's currency, not being dependent on banks/governments...
asics are quite the opposite of decentralization, gpu mining is affordable therefore it's excellent for decentralization, asics are expensive as f**k...

I agree with povertybyte that even if they wanted to go asic weaker but cheaper asics could be a way to go but the problem is people(asic manufacturers) cannot control themselves once they see money pouring in so yeah there would be new asic releases every now and then so the conclusion is, asics are cancer and never a good way to go unless there is a stable and trusted hardware market for asics(which there isn't) like there is for gpus...

[Eyedol-X]

There is another thread that has been going on this since the 1st day https://bitcointalk.org/index.php?topic=1976753.0

[RentGPU]

SiaCoin made a nice post about why ASIC is a good move, but they really screwed up on that one aspect.

Sure they made a nice post, they want idiots/investors to keep buying siacoin. Have you ever seen people defending their own mistakes and shameful acts of greedy and selfishness, that is what siacoin devs are doing, an one hit and run for life, they want to build as many siacoin asics they can and then abandon the project after 6 months the asics hit the network because they know they cant control it anymore after that. They want to earn as much money as possible and fast. Siacoin died the moment they decide asicing the network for personal gains and the funny thing is they say is for security hehe

op

I mean how could asic ever be a good move? the whole point of cryptocurrencies is decentralization, people's currency, not being dependent on banks/governments...
asics are quite the opposite of decentralization, gpu mining is affordable therefore it's excellent for decentralization, asics are expensive as f**k...

I agree with povertybyte that even if they wanted to go asic weaker but cheaper asics could be a way to go but the problem is people(asic manufacturers) cannot control themselves once they see money pouring in so yeah there would be new asic releases every now and then so the conclusion is, asics are cancer and never a good way to go unless there is a stable and trusted hardware market for asics(which there isn't) like there is for gpus...

Actually you are talking about most disadvanteges about cryptocurrency which is the open source , everyone can mine even with cpu or gpu or fpga or whatever you just plugin to the network you will mine the faster you get the more you will take from others and here comes the greedy part ,most of ppl want to take the biggest part of the pie as much as they can not thinking of others, and here comes the asics inventors they will always play on the greedy side they don't care if they f**k up everything just to sell some garbadge with kk's of dollars ,  i always thinking that open source thing will kill this blockchain and crypto world , we really need some regulations

[fokilpt]

So basically all the SIA Coin hype was for naught? I am getting most profit on Poloniex with Bitshares. I want to sell my Litecoins (because I'm losing on them) and just buy more Bitshares. They just keep going up.

Such is the life of a swing trader.