Bitmain Doubles Price for S9

[rifleman74]

Bitmain owns BitcoinCash and it is 30% up today when they released their new batch

Now that the S9's are sold out, that will drop back down again. 

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[Par Avion]

Bitmain owns BitcoinCash and it is 30% up today when they released their new batch

It is very likely related that they released a batch at ATH for Bcash, and btc on a dip.

Doubling the price is just another slap in the face.

[Crypto Rock]

Bitmain owns BitcoinCash and it is 30% up today when they released their new batch

It is very likely related that they released a batch at ATH for Bcash, and btc on a dip.

Doubling the price is just another slap in the face.

We will see within a week how BTC and BTH price will flow and how much real influence Bitmain has.

Overall, a price increase by +110% will inspire a lot of existing customers to change to the alternative mining equipment supplier once one becomes available.

[MantaMine]

Bitmain owns BitcoinCash and it is 30% up today when they released their new batch

It is very likely related that they released a batch at ATH for Bcash, and btc on a dip.

Doubling the price is just another slap in the face.

We will see within a week how BTC and BTH price will flow and how much real influence Bitmain has.

Overall, a price increase by +110% will inspire a lot of existing customers to change to the alternative mining equipment supplier once one becomes available.

This.

Go Canaan. 

I was set to purchase 100x S9.  No way with this BS.  Money is going elsewhere now and in future expansions.

[Erelas]

Well, those could gather dust for all that I would notice.  Just more reason to go with gpu-centric coins.  The resellers stateside were already killing me with their markups on often badly used equipment.

[Pegaxsus]

Well, it's obvious that there is always someone that will buy them, so accepting BCH they are boosting their own currency

[stunvn]

I will buy 5 of it.

no matter how expensive it is.

[Jluyt123]

It is simple supply and demand. They can set their pricing based on what they feel they can get for the products without competition shatching their customers.

Dont get me wrong, I was set to buy too, but at $2700, I sat out. I am monitoring all the vendors right now: Bitmain, Ebit, Canaan and thers and it looks like $200/Th is becoming the new norm.

[kwanfs]

That's unfair! There are not enough competitors in this market(

That's exactly the reason why Bitmain is doing such things.
If there were 2 or more 14Th/s miners available, there would be a decent competition probably.
But now Bitmain are in dominant position, until Ebit or Canaan (or dragonmint ) come up with something similar.

Ebit just announced their new miners. They are selling their 14Th/s miner for 4k. I don't think Canaan will be obligated to put a reasonable price either

[QuintLeo]

Bitmain has a long-standing policy that they target "6 month ROI" as the price on their miners.
I think they might have changed that to "9 month" or so on the S9 since there wasn't going to BE a "new generation on a new procss node" for years.

 I'm a bit amazed it took them THIS long to bump the price up, nor does HOW MUCH it jumped shock me at all.

 I'm not going to go into the ETHICS of this kind of price change, or the total LACK of ethics of them FORCING the use of that BCH coin they back for purchases from them.

[MantaMine]

I will buy 5 of it.

no matter how expensive it is.

You are the 1 in 10.  Congrats.

[WhyFhy]

funny how they go on current roi , two days later market take a 40% shit , only real winner is bitmain .

[stompix]

it almost seems like Bitmain is antagonizing one of their competitors to try and get into a price war with them. Bitmain charges double for s9, Ebit is asking some ridiculous number.... I wonder if Canaan will now price under the s9 for their A8. I saw Phil say a day or two ago, that Canaan shouldnt try and price their A8 under bitmain and someone else thought that the A8 would sell for about 2500, now that price would even be cheaper than a S9. Bitmain is playing games because they know they run the market, trying to get someone to try and beat their price and then squeeze them out of the market.

This is not how you squeeze people out of the market.
It's exactly the opposite.

If you want to gain market share you lower the prices until your competition can't sell a thing a go bankrupt.
What they do now is abusing that position, being the main supplier and are actually inviting others to steal their clients.

It is one of those three:
- they are pretty confident even with the price increase nobody is able to compete with them
- they have only a limited supply to sell and they think it will sell even at this price.
- most likely they have decided they would rather use the equipment for themselves as mining is pretty profitable these days

[dlezama]

it almost seems like Bitmain is antagonizing one of their competitors to try and get into a price war with them. Bitmain charges double for s9, Ebit is asking some ridiculous number.... I wonder if Canaan will now price under the s9 for their A8. I saw Phil say a day or two ago, that Canaan shouldnt try and price their A8 under bitmain and someone else thought that the A8 would sell for about 2500, now that price would even be cheaper than a S9. Bitmain is playing games because they know they run the market, trying to get someone to try and beat their price and then squeeze them out of the market.

This is not how you squeeze people out of the market.
It's exactly the opposite.

If you want to gain market share you lower the prices until your competition can't sell a thing a go bankrupt.
What they do now is abusing that position, being the main supplier and are actually inviting others to steal their clients.

It one of those three:
- they are pretty confident even with the price increase nobody is able to compete with them
- they have only a limited supply to sell and they think it will sell even at this price.
- most likely they have decided they would rather use the equipment for themselves as mining is pretty profitable these days

Explanation for the high price is simple, just supply and demand. Why in hell would bitmain, or canaan or any other player come up with a lower price for something that will sell out in hours? They should be *stupid* to do that. If you put something up for sale you try to hit a price where you maximize profit, simple as that. The only thing that will bring prices down is a shift in supply/demand. Unfortunately that shift will come paired to mining profits going down. No free money guys.

[QuintLeo]

Of course they go on current ROI estimate, they can't predict future BTC prices any more than the rest of us can.

 I have issues with Bitmain - but this pricing thing isn't exactly NEW news out of them, and IS in line with their LONG-standing policy about pricing their miners.
 The "sudden shock" is only for morons that don't pay ATTENTION to how they do business.



 But yeah, them getting to sell into a bubble was certainly a win for them - *IF* they converted their coin to hard cash fast enough (which they probably did).

[micloop]

It's all about demand and supply, ally to a scenario with no decent competitor at this market. So, the owner can raise his price as he wants to do so.

[Marvell2]

It's all about demand and supply, ally to a scenario with no decent competitor at this market. So, the owner can raise his price as he wants to do so.

glad i bough my dec bach at 1400 and i thought that was too high at the time smh , my only regeret is buying 4 D3 at the same time , could have had 10 s9 

no way i was gona pay 3k for something i paid less than half that for a few months ago

[Pandarian]

They sell for 3800+ on eBay now

[dlezama]

It's all about demand and supply, ally to a scenario with no decent competitor at this market. So, the owner can raise his price as he wants to do so.

glad i bough my dec bach at 1400 and i thought that was too high at the time smh , my only regeret is buying 4 D3 at the same time , could have had 10 s9 

no way i was gona pay 3k for something i paid less than half that for a few months ago

You could also have bought 10 D3s No way to know the future. If this price is the new norm for the miners, there is no way around it, we'll have to pay or stay out of the game...

[joachimhelminths]

So, I moved enough to buy an S9 into BCH at around 4pm GMT, hesitated slightly, went out, came back 4 hours later, BCH gets added to coinbase, wait another little while wondering what the hell is happening. BCH moons. I put the S9 order through.

30 minutes later, they're sold out, and BCH is crashing. My order price was locked in.

Worked out that I got my $2800 S9 for about $1700.


Lessons learned:

1. Bitmain KNOW releasing an S9 batch will pump BCH, as people scramble to move coins into BCH to complete their order.
2. Bitmain probably have a big bunch of S9s left. This was almost certainly NOT them running out of stock! Coinbase added BCH, there was a massive sell off of BCH, and only after that did they announce they were out of stock. All within about 3-4 hours of each other. The order makes me think BCH dump was Bitmain cashing out all the BCH they'd just received from the S9 batch.

My theory is this was a well co-ordinated and quite clever pump and dump by Bitmain/Roger Ver/Coinbase.

I will be waiting to see what happens between now and March 2018.

Probably re-selling my $1700 S9 for insane profit on ebay the day it arrives. They currently sell for around £4000 GBP ($5400), which is part of why I think $2800 isn't that unreasonable for Bitmain to price at. The real money they make is from BCH market manipulation.